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Legislation #: 110405 Introduction Date: 5/19/2011
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER TAYLOR AND COUNCILMEMBER SHARP
Title: Expressing support for the business attraction efforts related to Project Neighborhood; and expressing the Council’s support for a waiver to the City’s Chapter 100 Policy component suggesting a minimum bond issuance of $10 million.

Legislation History
DateMinutesDescription
5/19/2011 Filed by the Clerk's office
5/19/2011 Referred to Finance, Governance & Ethics Committee
5/25/2011 Hold On Agenda (6/1/2011)
6/1/2011 Immediate Adoption
6/2/2011 Adopted

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RESOLUTION NO. 110405

 

Expressing support for the business attraction efforts related to Project Neighborhood; and expressing the Council’s support for a waiver to the City’s Chapter 100 Policy component suggesting a minimum bond issuance of $10 million.

 

WHEREAS, the City and the Economic Development Corporation are working closely with the State of Missouri on a business attraction effort known as Project Neighborhood; and

 

WHEREAS, a component of the State’s incentive package is increased when the local municipality provides an incentive package; and

 

WHEREAS, the preferred local incentive for Project Neighborhood is a Chapter 100 bond issuance for which the City Council has previously established a set of policies for the review and approval of these projects, one of which suggests a minimum bond issuance size of $10 million; and

 

WHEREAS, in this specific instance, the projected Chapter 100 bond issuance is going to be less than $10 million, requiring the City Council to waive its minimum issuance policy for this project. NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

That the City Council hereby expresses its support for efforts related to Project Neighborhood and support for waiver of the Chapter 100 Bond Policy related to minimum bond issuance amounts for this project.

 

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