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Legislation #: 030483 Introduction Date: 4/17/2003
Type: Ordinance Effective Date: 5/4/2003
Sponsor: None
Title: Estimating revenue in the amount of $336,845.00 in the General Fund from damage payments from Aquila Corporation; appropriating it to the Downtown Redevelopment Initiatives account of the General Fund; designating requisitioning authority; and authorizing the Director of City Development to execute a Receipt of Funds with the Land Clearance for Redevelopment Authority.

Legislation History
DateMinutesDescription
4/16/2003

Prepare to Introduce

4/17/2003

Referred Planning, Zoning & Economic Development Committee

4/23/2003

Advance and Do Pass

4/24/2003

Passed


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ORDINANCE NO. 030483

 

Estimating revenue in the amount of $336,845.00 in the General Fund from damage payments from Aquila Corporation; appropriating it to the Downtown Redevelopment Initiatives account of the General Fund; designating requisitioning authority; and authorizing the Director of City Development to execute a Receipt of Funds with the Land Clearance for Redevelopment Authority.

 

WHEREAS, the City of Kansas City entered into an incentive agreement with the Aquila Corporation through its Land Clearance for Redevelopment Corporation (LCRA) for the purpose of creating and maintaining jobs in Downtown Kansas City; and

 

WHEREAS, the LCRA found that the Aquila Corporation failed to maintain the specified number of jobs in Downtown Kansas City and was therefore due certain damage payments; and

 

WHEREAS, the LCRA is returning to the City its pro-rata share of the damage payments; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account of the General Fund is hereby reestimated in the following additional amount:

 

04-100-012-8524 Recovery on Damage Claim $336,845.00

 

Section 2. That the sum of $336,845.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account in the General Fund:

 

04-100-064-2043-B Downtown Redevelopment Initiatives $336,845.00

 

Section 3. That the Director of City Development is hereby designated as requisitioning authority for Account No. 04-100-064-2043.

 

Section 4. That the Director of City Development is hereby authorized to execute the attached Receipt of Funds document with the Land Clearance for Redevelopment Authority.

 

_____________________________________________

 

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.

 

___________________________________

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Assistant City Attorney