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Legislation #: 020500 Introduction Date: 4/25/2002
Type: Ordinance Effective Date: 2/9/2003
Sponsor: COUNCILMEMBER FORD AND COUNCILMEMBER LOAR
Title: Estimating revenue and appropriating $2,300,000.00 for the Tax Increment Financing Plan for Shoal Creek Parkway and adjacent development.

Legislation History
DateMinutesDescription
4/25/2002

Prepare to Introduce

4/25/2002

Referred Planning, Zoning & Economic Development Committee

5/8/2002

Hold On Agenda

5/15/2002

Hold On Agenda

6/19/2002

Hold On Agenda

7/1/2002

Hold On Agenda

7/24/2002

Hold On Agenda

7/31/2002

Hold Off Agenda

1/29/2003

Advance and Do Pass

1/30/2003

Passed


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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.

 

_____________________________________________

 

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.

 

 

___________________________________

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Assistant City Attorney