ORDINANCE NO. 040196

Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the First Amendment to the Downtown Library Tax Increment Financing Plan and approving the First 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 Redevelopment Plan is 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, in Ordinance No. 021400, the Council accepted the recommendations of the Tax Increment Financing Commission of Kansas City (Commission) and approved the Downtown Library Tax Increment Financing Plan (Plan); and

WHEREAS, after all proper notice was given, the Commission met in public hearing regarding the First Amendment on February 11, 2004, at which time, after receiving the comments of all interested persons and taxing districts, the Commission approved Resolution No. 02-05-04 ("Resolution") recommending to the City Council the approval of the First Amendment; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendations of the Commission concerning the First Amendment as set forth in the Resolution attached hereto as Exhibit A are hereby accepted and the First 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 No. 021400, are not affected by the First Amendment and apply equally to the First Amendment.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney