COMMITTEE SUBSTITUTE
FOR RESOLUTION NO. 120318
Expressing the Council’s desire
that the Tax Increment Financing Commission of Kansas City, Missouri convene a
public hearing to consider approving and recommending to the Council the
termination of Redevelopment Project Areas 65-A and 65-B of the Civic Mall Tax
Increment Financing Plan.
WHEREAS, the
Civic Mall Tax Increment Financing Plan (the “Civic Mall TIF Plan”) was adopted
by the Council through Ordinance No. 941589 on December 8, 1994; and
WHEREAS,
Redevelopment Project Area 65-A of the Civic Mall TIF Plan was designated and
tax increment allocation financing was authorized within such Redevelopment
Project Area 65‑A by the Council on December 9, 2004, by Ordinance
No. 941604; and
WHEREAS,
Redevelopment Project Area 65-B of the Civic Mall TIF Plan was designated and
tax increment allocation financing was authorized within such Redevelopment
Project Area 65‑B by the Council on December 9, 2004, by Ordinance
No. 941603; and
WHEREAS, the
Council desires that the Tax Increment Financing Commission of Kansas City,
Missouri convene a public hearing to consider approving and recommending to the
Council the termination of Redevelopment Project Areas 65-A and 65-B of the
Civil Mall TIF Plan in accordance with the Real Property Tax Increment
Allocation Redevelopment Act (“Act”), Sections 99.800-99.865, RSMo.; NOW,
THEREFORE,
BE IT RESOLVED
BY THE COUNCIL OF KANSAS CITY:
That the Council
hereby requests that the Tax Increment Financing Commission of Kansas City,
Missouri (the “Commission”) convene a public hearing to consider approving and
recommending to the Council that it terminate Redevelopment Project Areas 65-A
and 65-B of the Civic Mall TIF Plan and, after the payment of costs and
expenses of the Commission, cause all funds on deposit within the Special
Allocation Funds established in connection with Redevelopment Project Areas 65‑A
and 65‑B to be declared surplus and distribute all such funds to the
affected taxing districts in accordance with Section 99.850 RSMo.; and
BE IT FURTHER
RESOLVED, that upon the passage of a Resolution of the Commission recommending
that the Council terminate Redevelopment Project Areas 65-A and 65-B of the
Civic Mall TIF Plan, it is the intention of the Council to terminate
Redevelopment Project Area 65-A and 65-B in accordance with the TIF Act, and,
after the payment of costs and expenses of the Commission, cause all funds on
deposit within the Special Allocation Funds established in connection with
Redevelopment Project Areas 65‑A and 65‑B to be declared surplus
and distributed to the taxing districts in accordance with Section 99.850
RSMo.
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