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Legislation #: 031390 Introduction Date: 12/18/2003
Type: Resolution Effective Date: none
Sponsor: None
Title: Expressing the intent of the City Council to approve financing, known as TIF in support of the redevelopment project at 909 Walnut Street and repealing Resolution No. 030338 relating to the same project.

Legislation History
DateMinutesDescription
12/18/2003

Prepare to Introduce

12/18/2003

Referred Planning, Zoning & Economic Development Committee

1/7/2004

Immediate Adoption

1/8/2004

Adopted


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RESOLUTION NO. 031390

 

Expressing the intent of the City Council to approve financing, known as Super TIF in support of the redevelopment project at 909 Walnut Street and repealing Resolution No. 030338 relating to the same project.

 

WHEREAS, City Council Ordinance No. 030256, passed March 27, 2003 approved the Third Amendment to the Tower Properties TIF Plan providing for the redevelopment of the 909 Walnut property, and

 

WHEREAS, the City Council in Resolution No. 030338 previously expressed the intent to approve Super TIF financing in support of the 909 Walnut project, and

 

WHEREAS, the City Council deems the redevelopment of historic properties within the Central Business District for residential and mixed-use purposes to be supportive of the Citys Downtown Plan and to merit additional financial support; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City Council hereby expresses its intent to annually appropriate the economic activity taxes, as defined by Section 99.845.3, RSMo, generated by Project H of the Tower Properties TIF Plan in support of the redevelopment of 909 Walnut and, to appropriate the additional remaining City economic activity taxes generated within Project H to pay eligible project costs.

 

Section 2. That Resolution No. 030338 is hereby repealed.

 

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