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Legislation #: 130674 Introduction Date: 9/5/2013
Type: Ordinance Effective Date: none
Sponsor: None
Title: Estimating revenue from the proceeds of the sale of Missouri brownfields remediation tax credits in the amount of $225,489.94; appropriating funds in the same amount; and designating requisitioning authority.

Legislation History
DateMinutesDescription
9/4/2013 Filed by the Clerk's office
9/5/2013 Referred to Planning, Zoning & Economic Development Committee
9/11/2013 Advance and Do Pass, Debate
9/12/2013 Passed

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130674.pdf Authenticated 115K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=130674 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=130674
fiscal note.pdf Fiscal Note 75K fiscal note
fact sheet.pdf Fact Sheet 127K Fact Sheet
130674 Admin.pdf Other 11K Admin

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ORDINANCE NO. 130674

 

Estimating revenue from the proceeds of the sale of Missouri brownfields remediation tax credits in the amount of $225,489.94; appropriating funds in the same amount; and designating requisitioning authority.

 

WHEREAS, on November 7, 2005, the Missouri Department of Economic Development authorized remediation tax credits to the City for the 1400 Main Street, Empire Theater project (the “Project”) in the amount of $938,358.00; and

 

WHEREAS, on March 22, 2010, the Missouri Department of Economic Development issued to the City a third and final Certificate of Eligibility for remediation tax credits for the Project in the amount of $254,790.89; and

 

WHEREAS, the City derived proceeds from the sale of these tax credits in the amount of $225,489.94; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That revenue in the following account of the Brownfields Revolving Fund is estimated in the following amount:

 

14-2550-640000-480441 Sale of Tax Credits $225,489.94

 

Section 2. That the amount of $225,489.94 is appropriated from the Unappropriated Fund Balance of the Brownfields Revolving Fund to the following account:

 

14-2550-641000-A City Planning – Admin $ 56,372.49

14-2550-641000-B City Planning – Admin 169,117.45

TOTAL $225,489.94

 

Section 3. That the Director of City Development is designated as requisitioning authority for Account No. 14-2550-641000.

 

_____________________________________________

 


I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Matthew Gigliotti

Assistant City Attorney