ORDINANCE NO. 070486
Approving the First Amendment to
the 45th Street Tax Increment Financing Plan.
WHEREAS, pursuant to the Real Property Tax
Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the
Revised Statutes of Missouri, 1986, as amended (the Act), the City Council of
Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and
thereafter repealed and amended in certain respects by Committee Substitute for
Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax
Increment Financing Commission of Kansas City, Missouri (the Commission); and
WHEREAS, the
Commission, having been duly constituted, its members appointed, and after all
proper notice was given, met in public hearing on November 8, 2006, and, after
receiving the comments of all interested persons and taxing districts, approved
Resolution No. 11-15-06 recommending to the City Council the approval of the 45th
Street Tax Increment Financing Plan (the Plan); and
WHEREAS, the City
Council accepted the recommendations of the Commission by passage of Committee
Substitute for Ordinance No. 061321, approving the Plan; and
WHEREAS, a First
Amendment to the Plan (the First Amendment) has been proposed, which revises
the Estimated Development Schedule for the Plan; NOW, THEREFORE,
BE IT ORDAINED BY THE
COUNCIL OF KANSAS CITY:
Section 1. The First Amendment, a copy of
which is attached hereto as Exhibit A, is hereby approved and adopted as
valid.
Section 2. All terms
used in this Ordinance shall be construed as defined in Sections 99.800 to
99.865 of the Revised Statutes of Missouri, as amended.
Section 3. The City
Council hereby finds that the findings of the City Council in Committee
Substitute for Ordinance No. 061321, with respect to the Plan, as amended, are
not affected by the First Amendment and apply equally to the First Amendment.
___________________________________________________
Approved
as to form:
Heather
A. Brown
Assistant City Attorney