KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 140409 Introduction Date: 5/22/2014
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER MARCASON
Title: Authorizing the City Manager to execute a tax credit agreement with the Missouri Development Finance Board and Union Station Kansas City, Inc. in connection with the issuance of state tax credits.

Legislation History
DateMinutesDescription
5/21/2014 Filed by the Clerk's office
5/22/2014 Councilmember Marcason Move To Consider
5/22/2014 Councilmember Marcason (Second by Taylor) Move to Waive Charter Requirement
5/22/2014 Passed

View Attachments
FileTypeSizeDescription
140409.pdf Authenticated 81K Authenticated
140409 Agreement.pdf Agreement 1198K Agreement

Printer Friendly Version

ORDINANCE NO. 140409

Authorizing the City Manager to execute a tax credit agreement with the Missouri Development Finance Board and Union Station Kansas City, Inc. in connection with the issuance of state tax credits.

WHEREAS, the City Council, by Committee Substitute for Resolution No. 120964, authorized an application to the Missouri Development Finance Board (the “Board”) for the preliminary authorization of state tax credits in an amount not to exceed $5,000,000.00 to support fund-raising efforts for capital improvements at Union Station; and

WHEREAS, on December 17, 2013, the Board approved the application and the award of tax credits in an amount up to $2,250,000.00; and

WHEREAS, the Union Station project will significantly benefit the City of Kansas City and the State of Missouri by: (i) the creation of temporary and permanent jobs; (ii) increasing tourism opportunities within the area; (iii) continued preservation of a historic landmark; (iv) increasing local and state tax revenues, and (v) increasing entrepreneurial and educational opportunities for residents of Kansas City, Missouri and the State of Missouri; and

WHEREAS, a tax credit agreement must be executed in connection with the issuance of such tax credits; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Manager is authorized to execute a tax credit agreement with the Missouri Development Finance Board and Union Station Kansas City, Inc. in connection with the issuance of state tax credits. The agreement is approved in substantial form as attached.

______________________________________

Approved as to form and legality:

 

 

________________________________

Brian T. Rabineau

Assistant City Attorney