ORDINANCE NO. 031224

Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the First Amendment to the New England Bank Building Tax Increment Financing Plan and approving the First Amendment to the New England Bank Building Tax Increment Financing Plan.

WHEREAS, in Ordinance No. 001459, the Council accepted the recommendations of the Tax Increment Financing Commission of Kansas City (Commission) and approved the New England Bank Building Tax Increment Financing Plan (Plan); and

WHEREAS, the first amendment to the Plan, providing for a change in land use from commercial use to mixed-use commercial and revising the estimated redevelopment costs and revising the but for analysis (First Amendment), was proposed to the Commission; and

WHEREAS, after all proper notice was given, the Commission met in public hearing regarding the First Amendment on October 8, 2003, at which time, after receiving the comments of all interested persons and taxing districts, the Commission approved Resolution No. 10-08-03 ("Resolution") recommending to the City Council the approval of the First Amendment; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendations of the Commission concerning the First Amendment as set forth in the Resolution attached hereto as Exhibit A are hereby accepted and the First Amendment, a copy of which is attached hereto as Exhibit B, is hereby approved.

Section 2. All terms used in this ordinance, not otherwise defined herein, shall be construed as defined in the Real Property Tax Increment Allocation Redevelopment Act, Sections 99,800 to 99.865, RSMo.

Section 3. The City Council hereby finds that good cause has been shown for the amendment of the Plan and that the findings of the Council in Ordinance No. 001459 are not affected by the First Amendment and apply equally to the First Amendment.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney