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Legislation #: 990404 Introduction Date: 3/18/1999
Type: Resolution Effective Date: 3/25/1999
Sponsor: COUNCILMEMBER GLOVER
Title: Establishing a policy to provide increased economic incentives to be used in tax increment financing redevelopment areas for public purposes associated with residential development in the distressed areas of the city.

Legislation History
DateMinutesDescription
3/24/1999

Immediate Adoption as a Committee Substitute

3/18/1999

Prepare to Introduce

3/18/1999

Referred Planning, Zoning & Economic Development Committee

3/19/1999

Referred Planning, Zoning & Economic Development Committee

3/18/1999

Referred Planning, Zoning & Economic Development Committee

3/25/1999

Amended

3/25/1999

Move To Hold On Docket

3/25/1999

Adopted as Substituted and Amended


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COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 990404, AS AMENDED

 

Establishing a policy to provide increased economic incentives to be used in tax increment financing redevelopment areas for public purposes associated with residential development in the distressed areas of the city.

 

WHEREAS, the policy set forth herein differs from the policy set forth in Committee Substitute for Resolution No. 941748, As Amended, (the Downtown Hotel Policy) in that (1) it will apply to a broader area of the City and (2) the revenues made available under this policy will be available, within the constraints of the law, for public improvements for residential projects; and

 

WHEREAS, the Council desires to establish a policy to provide economic incentives for projects within tax increment financing redevelopment areas in the central city or convention related areas by setting out criteria under which certain revenues will be made available for public purposes associated with residential development within those redevelopment areas; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Council hereby declares the policy of the City to provide the following economic incentives for certain tax increment financing redevelopment projects (as defined in Section 2) in the distressed or convention related areas of the city with the revenues to be appropriated for public purposes associated with residential development within the tax increment financing redevelopment areas:

 

a. Not to exceed 100% of the economic activity taxes as defined in Section 99.845, RSMo (50% as set forth in the Section 99.845 and 50% to be annually appropriated by the City);

 

b. Not to exceed 100% of payments in lieu of taxes pursuant to Section 99.845; and

 

c. Not to exceed 100% of all other city taxes generated by the project to be annually appropriated by the City.

 

Section 2. That the redevelopment projects to which this policy applies must be located within a tax increment financing redevelopment area as well as in the area defined in Section 3 and must relate to the stabilization of residential development within the tax increment financing development area and assure the continued viability of the redevelopment in Kansas City.

Section 3. That the revenues appropriated under Section 1 will be available for public improvements for residential projects if the project meets the following eligibility requirements:

 

1. The source(s) of the funds associated with this incentive must be within an approved TIF District and the use(s) of the funds must be in accordance with the approved TIF Plan.

 

2. The project must include a significant residential component integrated into the overall project.

 

3. The TIF district must be located within a distressed area as defined by:

 

a. The Kansas City Enterprise Zone as it is defined at the time of TIF Plan approval, or

 

b. The Kansas City Enhanced Enterprise Communities area as it is defined at the time of TIF Plan approval, or

 

c. Areas Targeted for Incentives within the FOCUS Urban Core Plan, or

 

d. The eligibility area for 100% Chapter 353 Tax Abatement as established by the City Council through the adoption of Second Committee Substitute for Resolution No. 980793, As Amended.

 

4. The funds must be used for public improvements or public purposes as established by the City Council

 

In addition, the project must meet the following criteria:

 

1. The City Council, upon recommendation by the TIF Commission, must determine that the incentive is necessary for the project to be completed.

 

2. The project must be in conformance with the approved Area Plan for the area.

 

3. The project must be in conformance with recommendations of the FOCUS Kansas City Plan

 

4. The project must support mixed-use development (as defined by the FOCUS Kansas City Plan), rehabilitation of existing housing stock, transit oriented development, housing for a variety of income ranges (affordability issue), or conversion of rental housing units to owner occupied housing units.

 

5. The project must support urban design recommendations of the FOCUS Kansas City Plan.

 

6. The project must provide appropriate levels of private investment and permanent financing.

 

7. Only projects located within the Downtown Convention and Cultural District, as established in Committee Substitute for Resolution No. 941748 (as subsequently amended), or after review by the Convention & Visitors Bureau can be shown to provide a benefit to the Convention Area, are eligible to receive the Convention and Visitors Bureau portion of the economic activity and other City taxes generated by the project, and the use of the revenues must comply with all statutory restrictions.

 

The project must go through the following approval process:

1. Applications for this incentive must receive a positive recommendation from the City Plan Commission prior to approval by the TIF Commission.

 

2. In approving a TIF Plan including this incentive, the City Council must make a determination that the Plan meets the Eligibility Criteria and follows the Project Guidelines above.

 

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