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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