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Legislation #: 020088 Introduction Date: 1/17/2002
Type: Resolution Effective Date: 1/24/2002
Sponsor: COUNCILMEMBER EDDY
Title: Authorizing the City Manager to submit on behalf of the City an application for state TIF revenues for the proposed Three Trails District Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
1/17/2002

Referred Legislative, Rules and Ethics Committee

1/23/2002

Be Adopted

1/24/2002

Adopted


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RESOLUTION NO. 020088

 

Authorizing the City Manager to submit on behalf of the City an application for state TIF revenues for the proposed Three Trails District Tax Increment Financing Plan.

 

WHEREAS, under the Real Property Tax Increment Redevelopment Act, certain qualified redevelopment plans and projects may be eligible to receive funding of up to fifty percent (50%) of new state revenues in addition to the payments in lieu of taxes and local economic activity taxes currently available, and

 

WHEREAS, under Section 99.845.6, RSMo, new state revenues will not be available unless and until an appropriation by the General Assembly has been made from the General Revenue Fund for the appropriate purpose; and

 

WHEREAS, under Section 99.845.6, RSMo, no municipality shall commit any new state revenues prior to the appropriation being made for that given project; and

 

WHEREAS, the initial appropriation of the new state revenues authorized pursuant to Section 99.845.4, RSMo, and Section 99.845.5, RSMo, shall not be made to or distributed by the Department of Economic Development to a municipality until the Director of the Department of Economic Development and the Commissioner of the Office of Administration have approved a tax increment financing application made by the municipality for the appropriation of the new state revenues; and

 

WHEREAS, the appropriation of new state revenues is necessary for the proposed Three Trails District Tax Increment Financing Plan; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City Manager is authorized and directed to submit, on behalf of the City, an application for state funds for the proposed Three Trails District Tax Increment Financing Plan to the Missouri Department of Economic Development, pursuant to the recent amendments to Sections 99.800 to 99.865, RSMo.

 

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