ORDINANCE NO. 110790

Terminating the Jazz District Tax Increment Financing Plan.

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, the Council on March 25, 1999, by Ordinance No. 990186 approved the Jazz District Tax Increment Financing Plan to assist in improvements contemplated and begun under the original Chapter 353 project, the 18th and Vine Redevelopment Plan, which included construction of approximately 204 residential units and approximately 70,000 square feet of commercial space; and

WHEREAS, the Commission has certified and reimbursed all eligible reimbursable costs and, at its September 14, 2011 meeting, passed Resolution No. 9-9-11 which recommends termination of the Jazz District TIF Plan; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Jazz District Tax Increment Financing Plan is hereby terminated and all surplus funds shall be distributed to the affected taxing jurisdictions in accordance with the Act.

Section 2. That following the distribution of the surplus funds, the special allocation fund for the Jazz District Tax Increment Financing Plan is dissolved and the designation of the Jazz District Redevelopment Project Area, as described in Ordinance No. 990187, is terminated.

_____________________________________________

Approved as to form and legality:

______________________________

Cecilia Abbott

Assistant City Attorney