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RESOLUTION NO. 080009
an amended application to the Missouri Development Finance Board for the
preliminary authorization of State Tax Credits in the amount not to exceed
$64,750.00 to support fund-raising efforts for the renovation of an existing
facility to create a Life Sciences Micro Incubator and authorizing the City
Manager to execute an amended Tax Credit Agreement between the City of Kansas
City and Missouri Development Finance Board.
BE IT RESOLVED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the Council expresses its intention to support the concept of renovating an
existing facility for a Life Sciences Micro Incubator which would be developed
by the EDC Charitable Fund.
Section 2. That
the Council states that the renovated facility will benefit the public by
allowing start up companies in the field of life sciences an opportunity to
lease property equipped and property configured space at an economical rate
while creating jobs and investment in Kansas City, Missouri.
Section 3. That
the Council authorizes an amended application in the amount of $64,750.00 from
the Missouri Development Finance Boards Tax Credit for Contribution Program to
finance the renovation of a facility for a Life Sciences Micro Incubator.
Section 4. That
the City Manager is hereby authorized to execute, on behalf of Kansas City, an
amended Tax Credit Agreement with Missouri Development Finance Board and other
necessary documentation to administer the project.