ORDINANCE NO. 051526

Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the Second Amendment to the Downtown Library Tax Increment Financing Plan and approving the Second Amendment to the Downtown Library Tax Increment Financing Plan.

WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556 passed on November 24, 1982 and thereafter amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, the Downtown Library District Tax Increment Financing Plan (the Redevelopment Plan) was proposed to the Commission, which 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 November 9, 2002, adopted its Resolution No. 10-06-02(the Resolution) recommending to the City Council the approval of the Plan (the "Redevelopment Plan"); and

WHEREAS, the First Amendment to the Downtown Library Tax Increment (the First Amendment) was proposed to the Commission, which met in public hearing and after receiving the comments of all interested persons and taxing districts with respect to the First Amendment, closed said public hearing and on February 11, 2004, adopted its Resolution No. 02-05-04 recommending to the city Council the approval of the First Amendment; and

WHEREAS, the First Amendment to the Downtown Library Tax Increment Financing Plan was approved by Ordinance No. 040196 on March 4, 2004; and

WHEREAS, the Redevelopment Plan and First Amendment are a comprehensive program intended to reduce or eliminate blight and enhance the tax base within the Redevelopment Area through the implementation of one Redevelopment Project and the adoption of tax increment financing for each of the areas selected for such Redevelopment Project; and

WHEREAS, the Second Amendment to the Redevelopment Plan was proposed to the Commission; and

WHEREAS, after all proper notice was given, the Commission met in public hearing regarding the Second Amendment on November 9, 2005, at which time, after receiving the comments of all interested persons and taxing districts, the Commission approved Resolution No. 11-6-05 ("Resolution") recommending to the City Council the approval of the Second Amendment; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendations of the Commission concerning the Second Amendment as set forth in the Resolution attached hereto as Exhibit A are hereby accepted and the Second Amendment, a copy of which is attached hereto as Exhibit B, is hereby approved.

Section 2. All terms used in this ordinance, not otherwise defined herein, shall be construed as defined in the Real Property Tax Increment Allocation Redevelopment Act, Sections 99,800 to 99.865, RSMo.

Section 3. The City Council hereby finds that good cause has been shown for the amendment of the Plan and that the findings of the Council in Ordinance Nos. 021400 and 040196, are not affected by the Second Amendment and apply equally to the Second Amendment.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney