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:
___________________________________
Heather
A. Brown
Assistant
City Attorney