RESOLUTION NO. 030195
Authorizing
the City Manager to submit on behalf of the City a request for renewal of state
TIF revenues for the approved Three Trails District Tax Increment Financing
Plan.
WHEREAS,
under the Real Property Tax Increment Allocation Redevelopment Act, certain
qualified redevelopment plans and projects may be eligible to receive funding
of up to fifty percent (50%) of new state revenues in addition to the payments
in lieu of taxes and local economic activity taxes currently available; and
WHEREAS,
under Section 99.845.6, RSMo, new state revenues will not be available unless
and until an appropriation by the General Assembly has been made from the
General Revenue Fund for the appropriate purpose; and
WHEREAS,
under Section 99.845.6, RSMo, no municipality shall commit any new state
revenues prior to the appropriation being made for that given project; and
WHEREAS,
the initial appropriation of the new state revenues authorized pursuant to
Section 99.845.4, RSMo, and Section 99.845.5, RSMo, shall not be made to or
distributed by the Department of Economic Development to a municipality until
the Director of the Department of Economic Development and the Commissioner of
the Office of Administration have approved a tax increment financing
application made by the municipality for the appropriation of the new state
revenues; and
WHEREAS,
the appropriation of new state revenues is necessary for the approved Three
Trails District Tax Increment Financing Plan; NOW, THEREFORE,
BE
IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
Section
1. That the City Manager is authorized and directed to submit, on behalf of
the City, a request for renewal of state funds for the approved Three Trails
District Tax Increment Financing Plan to the Missouri Department of Economic
Development, pursuant to Sections 99.800 to 99.865, RSMo.
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