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RESOLUTION NO. 021269
the policy of the City to provide economic incentives for the construction of
new structured parking facilities and advising the Tax Increment Financing
Commission of the general guidelines and criteria for providing such
downtown development is important to the financial stability of Kansas City and
crucial in casting the Citys image of being a viable and vital business and
tourism destination; and
the availability of convenient, attractive and reasonably priced structured
parking facilities is necessary for the attraction and retention of business
and retail development and tourism; and
the cost of constructing and operating structured parking in the downtown area
is economically uncompetitive in comparison with construction and operation of
surface level parking; and
surface level parking in the downtown area creates a sense of under-developed
and under-utilized downtown property; and
the provision and availability of structured parking facilities in other areas
in Kansas City, such as the Country Club Plaza, demonstrates the vital role of
convenient and attractive parking for attracting visitors and tourists, and
attracting and retaining business and retail development; NOW, THEREFORE,
IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
A. That the Council hereby declares it to be the policy of the City to provide
economic incentives for the construction of new structured parking facilities
in the Tax Increment Financing Plan Area (described in Section B, following) in
an amount not to exceed the following taxes generated directly by the
construction of new adjacent development accommodations: 100% of the economic
activity taxes (50% based on the provisions of Section 99.845, Revised Statutes
of Missouri, as amended, and 50% appropriated annually by the City); 100% of
payments in lieu of taxes (PILOTS) pursuant to Section 99.845; and 100% of all
other City taxes generated directly by the new adjacent development and
appropriated annually, during the Debt Service Period.
B. That the Council hereby advises the Tax Increment Financing Commission to
solicit proposals for the construction of new structured parking facilities,
and that such proposals shall be evaluated against the policy set forth herein
and are to be applied only in the Central Business District, such district
defined as the area generally located within the downtown freeway loop.
Projects elsewhere in the downtown area or within historic areas in the
downtown area may be eligible only on a project by project basis as determined
by City Council.
C. This policy may only be used when the structured parking facility to be
constructed is to be owned by the City or by a statutory agency.
D. That the Council hereby directs the Tax Increment Financing Commission that
proposals shall be evaluated against the criteria set forth herein to determine
whether the proposal is in the best interests of the City. Proposals that do
not require the maximum subsidy or that result in profit sharing with the City
may receive more favorable evaluation if all other criteria are met. Any
proposal should demonstrate the developers willingness to assume some
E. That the City Council hereby advises the Tax Increment Financing Commission
that proposals submitted under the policy set forth will be evaluated by the
City to determine whether the proposal is in the best interests of the City.
F. That any decision to exceed the limits of incentives or to vary from the
criteria set forth in this resolution must be pre-approved by the City Council,
which also shall have the right to determine the use of any taxes generated but
not required as incentives by the project.
G. That this resolution does not in any way preclude the City from providing
additional economic incentives to any structured parking facility project which
the City deems is critical to the success of the Central Business District
development and revitalization.