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.

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Approved as to form and legality:

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Assistant City Attorney