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;
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.