RESOLUTION NO. 970508

Expressing the support of the Council for a plan to provide jobs and to encourage the redevelopment and stabilization of central city areas by financing public improvements in the Empowerment Zone.

WHEREAS, the City has been actively participating in the creation of the Empowerment Zone to stimulate the rehabilitation and rejuvenation of certain areas of the City deteriorated and in need of replacement of public improvements; and

WHEREAS, in order to further enhance the growth of business, it is appropriate for the City to identify a method to provide for public improvements; and

WHEREAS, the City is now and will be considering certain projects for approval of certain economic incentives either under the Tax Increment Financing, PIEA, or under the 353 Redevelopment law; and

WHEREAS, all businesses in Kansas City are interdependent as to the economic stability necessary to create a positive central city commercial and industrial environment; and

WHEREAS, it is appropriate that development benefitting from economic incentives granted by the City further enhance and encourage the potential for redevelopment and job creation by participating in a plan to fund public improvements in the Empowerment Zone; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

That the Council hereby expresses its support for a plan to finance public improvements in the Empowerment Zones, such plan to provide that any person engaging in development under Chapter 353, Revised Statutes of Missouri (RSMo), Section 99.800, et seq., RSMo, or Section 100.300, et seq., RSMo, except those engaging in development which is substantially devoted to low and moderate income housing, contribute any amount not to exceed 5% of the total of the incentives granted by City. Such contribution shall be payable to the City, one-half upon approval of the incentives and the balance prorated over a fifteen year period.

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