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Legislation #: 140091 Introduction Date: 1/30/2014
Type: Ordinance Effective Date: none
Sponsor: None
Title: 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.

Legislation History
DateMinutesDescription
1/30/2014 Filed by the Clerk's office
1/30/2014 Referred to Planning, Zoning & Economic Development Committee
2/5/2014 Advance and Do Pass, Debate
2/6/2014 Passed

View Attachments
FileTypeSizeDescription
140091.pdf Authenticated 133K Authenticated
140091 Fact Sheet.pdf Fact Sheet 183K Fact Sheet
4th AMENDMENT Uptown TIF Plan Final Version (00165024xA7821).pdf TIF Plan 1602K Fourth Amendment to the Uptown TIF Plan
Request for Ordinance - 4th Amendment Uptown TIF Plan (00165711xA7821).docx Request for Ordinance 20K Request for Ordinance 4th Amendment Uptown TIF Plan

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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