ORDINANCE NO. 020500

Estimating revenue and appropriating $2,300,000.00 for the Tax Increment Financing Plan for Shoal Creek Parkway and adjacent development.

WHEREAS, the Tax Increment Finance Commission has established a Tax Increment Financing Plan for Shoal Creek Parkway and adjacent development; and

WHEREAS, the Board of Parks and Recreation Commissioners has entered into a Reimbursement Prioritization Agreement with the Tax Increment Financing Commission of Kansas City, Missouri; and

WHEREAS, revenues for this plan have been projected for the period 1994-2025; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the revenue in the following account of the Capital Improvements Fund is hereby estimated in the following amount:

02-309-070-8150 Shoal Creek Parkway Tax Increment Financing Plan $2,300,000.00

I-435 to NW 96th St

Section 2. That the sum of $2,300,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Capital Improvements Fund to the following account in the Capital Improvements Fund:

02-309-070-7160-T Shoal Creek Parkway Development $2,300,000.00

Section 3. That the Board of Parks and Recreation Commissioners is hereby designated as requisitioning authority for Account No. 02-309-070-7160.

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I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

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Director of Finance

Approved as to form and legality:

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Assistant City Attorney