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Legislation #: 990005 Introduction Date: 1/7/1999
Type: Ordinance Effective Date: 1/31/1999
Sponsor: None
Title: Authorizing amendments to the tax credit agreement with the Missouri Development Finance Board, Union Station Assistance Corporation, and the Greater Kansas City Community Foundation and Affiliated Trusts to allow allocation of contributions to endowment and to increase the amount of tax credits available.

Legislation History
DateMinutesDescription
1/7/1999

Prepare to Introduce

1/7/1999

Referred Planning, Zoning & Economic Development Committee

1/13/1999

Do Pass

1/14/1999

Assigned to Third Read Calendar

1/21/1999

Passed


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ORDINANCE NO. 990005

 

Authorizing amendments to the tax credit agreement with the Missouri Development Finance Board, Union Station Assistance Corporation, and the Greater Kansas City Community Foundation and Affiliated Trusts to allow allocation of contributions to endowment and to increase the amount of tax credits available.

 

WHEREAS, Committee Substitute for Ordinance No. 950762 authorized a tax credit agreement with the Missouri Development Finance Board, Union Station Assistance Corporation, and the Greater Kansas City Community Foundation and Affiliated Trusts for the Union Station project; and

 

WHEREAS, it is now necessary to execute amendments to the agreement to allow Union Station Assistance Corporation to allocate a portion of contributions received to its endowment and to increase the amount of tax credits available from $16 million to $21 million; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development is authorized to execute amendments to the tax credit agreement with the Missouri Development Finance Board, Union Station Assistance Corporation, and the Greater Kansas City Community Foundation and Affiliated Trusts to allow Union Station Assistance Corporation to allocate a portion of contributions received to its endowment and to increase the amount of tax credits available from $16 million to $21 million. The amendments are approved in substantial form as those on file in the office of the Director of City Development.

 

__________________________________________________

 

Approved as to form and legality:

 

 

 

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Assistant City Attorney