ORDINANCE NO. 140091
Accepting the recommendation of the Tax Increment Financing
Commission of Kansas City, Missouri, as to the Fourth Amendment to the Uptown
Tax Increment Financing Plan, and approving the same; and directing the City
Clerk to transmit copies of this ordinance.
WHEREAS, the City Council, by
Ordinance Nos. 970086, and 970087, approved and designated Redevelopment
Projects 3 and 4 of the Uptown Tax Increment Financing Plan (“Plan”); and
WHEREAS, the Tax Increment
Financing Commission of Kansas City, Missouri (“Commission”) has certified and
reimbursed all eligible reimbursable costs for these projects and, at its June
13, 2012 meeting, passed Resolution No. 6-11-2012 which recommends termination
of Redevelopment Projects 3 and 4 of the Uptown TIF Plan; and
WHEREAS, Ordinance No. 120730
passed August 23, 2012, terminated the Redevelopment Project Areas 3 and 4 and
declared all funds within the Special Allocation Fund in excess of existing and
anticipated administrative costs and expenses; and
WHEREAS, the Commission has been
duly constituted and its members appointed; and, after all proper notice was
given, the Commission met in public hearing and after receiving the comments of
all interested persons and taxing districts with respect to the Redevelopment
Plan, closed said public hearing on January 8, 2014, and adopted its Resolution
No. 1-15-14 (the “Resolution”) recommending to the City Council the approval of
the Fourth Amendment to the Plan, as follows:
(1) Elimination
of all references of Redevelopment Project Area 1D within the Uptown Tax
Increment Financing Plan (the “Uptown TIF Plan”);
(2) Dissolution
of the special allocation fund established pursuant to Redevelopment Project
Area 1D of the Plan (the “Special Allocation Fund”); and
(3) Termination
of the designation of Redevelopment Project Area 1D of the Plan. The intent of
the Plan remains unchanged other than those changes specifically mentioned
herein; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF
KANSAS CITY:
Section 1. That the Fourth
Amendment to the Uptown Tax Increment Financing Plan is hereby approved and the
designation of Redevelopment Project Area 1D of the Uptown Tax Increment
Financing Plan is hereby terminated.
Section 2. All surplus funds, less
the administrative costs and expenses of the Commission, shall be distributed
to the affected taxing jurisdictions in accordance with the Real Property Tax
Increment Allocation Redevelopment Act, Sections 99.800 to 99.865, RSMo.
Section 3. That the City Clerk
shall send a copy of this ordinance to the County Clerk and County Executive of
Jackson County, Missouri.
Approved as to
form and legality:
______________________________
Brian T. Rabineau
Assistant City
Attorney