COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 010668

Stating the policy of the City Council that the City maintain responsibility for the implementation of the Midtown Housing Program; declaring the intent of the Council that the City execute a contract with the Tax Increment Financing Commission for the administration of the Program; and directing the City Manager to negotiate the terms of the contract.

WHEREAS, pursuant to Committee Substitute for Ordinance No. 001466, As Amended, the Third Amendment to the Midtown Redevelopment Tax Increment Financing Plan provides that the City will administer the Midtown Housing Program, which may include administration through one or more Program Delivery Contractors with established ties to the City and the TIF Commission and which are familiar with housing programs within the City; and

WHEREAS, it is estimated that $35 to $75 million in TIF funds will be available for the Midtown Housing Program over the next 23 years; and

WHEREAS, the Midtown Housing Program is one of the most critical projects of the City for the successful redevelopment and stabilization of the Midtown area over the next two decades; and

WHEREAS, it is vitally important that the City and its elected officials be responsible for the implementation of the Midtown Housing Program; and

WHEREAS, the City Council believes it can achieve this objective by executing a contract with the Tax Increment Financing Commission for the administration of the Midtown Housing Program since the TIF Commission was involved in developing the Program; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Council hereby states its policy that the City maintain responsibility for the implementation of the Midtown Housing Program as provided in Committee Substitute for Ordinance No. 001466, As Amended.

Section 2. That the City Council hereby declares the intent of the City to execute a contract with the Tax Increment Financing Commission of Kansas City, Missouri (TIFC), to administer the Midtown Housing Program. The contract with TIFC shall include provisions regarding the fiscal years budget for the program, target area for the Program, staffing, reporting requirements regarding activities of the Program, role of the Midtown Housing Advisory Board and identification of the Program Delivery Contractor. The Council directs the City Manager to negotiate the terms of the contract with TIFC and to submit it to the Council for approval.

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