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Legislation #: 030004 Introduction Date: 1/9/2003
Type: Resolution Effective Date: 1/16/2003
Sponsor: None
Title: 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.

Legislation History
DateMinutesDescription
1/9/2003

Prepare to Introduce

1/9/2003

Referred Planning, Zoning & Economic Development Committee

1/15/2003

Immediate Adoption as a Committee Substitute

1/16/2003

Adopted as Substituted


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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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