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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:
___________________________
Assistant
City Attorney