COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 060499

Authorizing an application to the Missouri Development Finance Board [MDFB] for the preliminary authorization of State Tax Credits in the amount not to exceed $175,000.00 to support fund-raising efforts for the renovation of an existing facility to create a Life Sciences Micro Incubator.

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council expresses its intention to support the concept of renovating an existing facility for a Life Sciences Micro Incubator which would be developed by the EDC Charitable Fund.

Section 2. That the Council states that the renovated facility will benefit the public by allowing start up companies in the field of life sciences an opportunity to lease property equipped and property configured space at an economical rate while creating jobs and investment in Kansas City, Missouri.

Section 3. That the Council authorizes an application in the amount of $175,000.00 from the Missouri Development Finance Boards Tax Credit for Contribution Program to finance the renovation of a facility for a Life Sciences Micro Incubator.

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