COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 990405

Supporting the use of incentives allowed under Committee Substitute for Resolution No. 990404 for the Union Hill Tax Increment Financing Redevelopment Area and directing the City Manager to work with the Economic Development Corporation of Kansas City and the Tax Increment Financing Commission of Kansas City to develop a plan for utilizing the economic incentives available for those projects.

WHEREAS, the Council in Committee Substitute for Resolution No. 990404 established a policy for the use of the additional revenues generated by projects within the tax increment financing redevelopment areas for public purposes associated with residential development within the redevelopment areas and within a certain geographical area of the city; and

WHEREAS, the Council believes that the Union Hill Tax Increment Financing Plan, approved by the Council in Committee Substitute for Ordinance No. 971698, as amended, passed December 18, 1997, contains projects which meet the criteria set out in Committee Substitute for Resolution No. 990404; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council supports the use of revenues made available for certain residential development as set out in Committee Substitute for Resolution No. 990404 for public purposes associated with residential development within the Union Hill Tax Increment Financing Redevelopment Area.

Section 2. That the City Manager is directed to work with the Economic Development Corporation of Kansas City and the Tax Increment Financing Commission of Kansas City to develop a plan for utilizing the economic incentives available for those eligible projects within the Union Hill Tax Increment Financing Plan.

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