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.
________________________________________________________