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Legislation #: 130643 Introduction Date: 8/29/2013
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER FORD
Title: Expressing the City Council’s commitment to supporting the Port Authority of Kansas City, Missouri, Land Clearance for Redevelopment Authority, and Planned Industrial Expansion Authority of Kansas City, Missouri, in the utilization of sale-leasebacks.

Legislation History
DateMinutesDescription
8/26/2013 Filed by the Clerk's office
8/29/2013 Referred to Planning, Zoning & Economic Development Committee
9/4/2013 Immediate Adoption
9/5/2013 Adopted

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RESOLUTION NO. 130643

Expressing the City Council’s commitment to supporting the Port Authority of Kansas City, Missouri, Land Clearance for Redevelopment Authority, and Planned Industrial Expansion Authority of Kansas City, Missouri, in the utilization of sale-leasebacks.

WHEREAS, local public incentives have become increasingly necessary to leverage Missouri state public incentives for business expansion and recruitment projects; and

WHEREAS, a mechanism for exempting personal and real property taxes is beneficial in redeveloping distressed areas and leveraging state incentives that are critical to attracting, retaining and expanding quality jobs in Kansas City; and

WHEREAS, the Port Authority of Kansas City, Missouri (“PA”), Land Clearance for Redevelopment Authority (“LCRA”), and Planned Industrial Expansion Authority of Kansas City, Missouri (“PIEA”), each possess the statutory authority to act in a manner as to cause the exemption of such taxes through sale-leasebacks; and

WHEREAS, the City Council adopted Committee Substitute for Resolution No. 121013 and expressed its support for the use of sale-leasebacks by the PA, LCRA and PIEA; and

WHEREAS, the City Council thereafter adopted Committee Substitute for Resolution No. 130297 and approved a policy for the use of sale-leasebacks; and

 

WHEREAS, the purpose of the sale-leaseback is to provide the City with a simple, cost effective means of extending local real and personal property tax exemption in competitive economic development projects and/or to leverage Missouri state public incentives which are critical to attracting, retaining and expanding quality jobs in the City; and

 

WHEREAS, the success of the sale-leaseback is critical to the City’s economic interests; and

 WHEREAS, the City is committed to ensuring that the PA, LCRA and PIEA are supported in their efforts to successfully implement sale-leasebacks in the event that such efforts should be legally challenged; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

That the City shall provide the Port Authority of Kansas City, Missouri, Land Clearance for Redevelopment Authority and Planned Industrial Expansion Authority of Kansas City, Missouri, such assistance in defending the legality of sale-leasebacks as the City Manager shall determine appropriate, subject to the limits of funds appropriated by the City Council for such purposes.

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