COMMITTEE SUBSTITUTE FOR RESOLUTION NO.030004
Stating the intent of the
City Council of Kansas City to establish certain criteria for the examination
of TIF projects seeking activation at their ten year anniversary date.
WHEREAS, state
law requires that unless projects within a tax increment financing (TIF)
district are activated within ten years of the approval of a TIF Plan, the projects
shall be terminated; and
WHEREAS, the City
Council is being presented with ordinances which would activate TIF projects
where no actual project has been proposed; and
WHEREAS, the City
Council recognizes that each of these TIF projects needs to be evaluated in
light of certain public policy considerations at the time of activation; NOW,
THEREFORE,
BE IT RESOLVED BY
THE COUNCIL OF KANSAS CITY:
Section 1. That
the City Council shall review each set of individual TIF projects within an
established TIF District prior to their ten year anniversary date.
Section 2. That
the City Council shall review each TIF project with respect to the following
criteria:
A. The
projects conformance to FOCUS and current City plans and policies.
B. The
presence of outstanding reimbursement obligations to be designated to
developers for expenditures made toward completion of the TIF Plans
objectives.
C. The
presence of condemnation rights over property not owned by the designated
developer.
D. The
status and progress of TIF Plan implementation and of the particular project
that is being requested to be activated, and projected completion dates.
E. The
potential that project activation would reduce the effectiveness of TIF as a
redevelopment tool to further the goals of the City in the TIF District.
F. The
Citys financial risk and exposure in the project.
Section 3. That
the TIF Commission shall advise the City Council on the status of each TIF project
after considering the above criteria at the time the Council is reviewing
ordinances to approve and activate the applicable TIF projects.
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