COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 011726

Directing the City Manager to provide the City Council and City Plan Commission with an annual report on aggregate financial information related to economic development incentives and their impact on the Citys fiscal capacity and condition, and to inform the Budget and Audit Committee of the assumptions to be used in the report.

WHEREAS, the City Auditors Office Performance Audit Review of the 1999 Tax Increment Financing Annual Report, dated August 2000, recognized the need for additional reporting; and

WHEREAS, City Council, City management, City agencies and citizens of Kansas

City need information to examine the use of incentives in a broader context; and

WHEREAS, a report that aggregates fiscal data regarding all economic incentive

programs in use may provide that context; NOW THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Manager is directed to issue an annual report of financial information about TIF and other economic development incentives to the City Plan Commission and the City Council.

Section 2. That the report will examine the use of incentives in the broader context of their impact on the Citys overall fiscal condition and capacity. The report will present aggregate data on revenues, expenditures, debt levels, property tax base, fiscal and non-fiscal benefits and/or any other fiscal data that may assist the City Council in priority setting deliberations.

Section 3. That prior to development of the annual report the City Manager will inform the City Council Budget and Audit Committee of the basic assumptions, or range of assumptions, to be used in the report.

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