RESOLUTION NO. 060452

Determining that the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan is making satisfactory progress under the proposed time schedule for completion of the projects therein. 

WHEREAS, the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan was approved by the City Council on November 27, 1995, by Ordinance No. 951469; and 

WHEREAS, Section 99.865.3, RSMo, provides that five years after the establishment of a redevelopment plan and every five years thereafter, the Council shall hold a public hearing regarding those redevelopment plans and projects created pursuant to Sections 99.800 to 99.865, RSMo, to determine if the redevelopment project is making satisfactory progress under the proposed time schedule contained within the approved plans for completion of such projects; and 

WHEREAS, after proper notice, the Tax Increment Financing Commission of Kansas City, Missouri, accepted the ten year report of the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan after a hearing held on February 8, 2006; NOW, THEREFORE, 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council hereby determines that the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan is making satisfactory progress under the proposed time schedule contained within the approved plan for completion of the projects therein.

Section 2. That the Council hereby finds that the required notices were published and the required hearing was held, pursuant to Section 99.365.3, RSMo.

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