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Search the Ordinances:

Legislation #: 060943 Introduction Date: 8/24/2006
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBERS XBARNES, BLACKWOOD, BROOKS, COOPER, EDDY, FAIRFIELD, GLOVER, HERMANN, MCFADDEN-WEAVER, SCHUMACHER, NASH, RILEY AND SKAGGS
Title: Authorizing the City Manager to execute a Funding and Acquisition Agreement with the Tax Increment Financing Commission of Kansas City, Missouri and J.E. Dunn Construction Company and a Development Agreement with the same parties for the implementation of Project 1 of the East Village Tax Increment Financing Plan and directing the City Manager to identify funds to cover certain potential shortfalls.

Legislation History
DateMinutesDescription
8/24/2006 Filed by the Clerk's office
8/24/2006 Referred to Planning, Zoning & Economic Development Committee
8/30/2006 Hold On Agenda (9/6/2006)
9/6/2006 Hold On Agenda (9/13/2006)
9/13/2006 Hold On Agenda (9/20/2006)
9/20/2006 Hold On Agenda (9/27/2006)
9/27/2006 Hold On Agenda (10/4/2006)
10/4/2006 Hold On Agenda (10/11/2006)
10/11/2006 Hold On Agenda (10/25/2006)
10/25/2006 Hold On Agenda (11/1/2006)
11/1/2006 Hold On Agenda (11/15/2006)
11/8/2006 Hold On Agenda (11/15/2006)
11/15/2006 Hold On Agenda (11/29/2006)
11/29/2006 Hold On Agenda (12/13/2006)
12/13/2006 Advance and Do Pass as Second Committee Substitute, Debate
12/14/2006 Passed As Second Substitute

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SECOND COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 060943

 

Authorizing the City Manager to execute a Funding and Acquisition Agreement with the Tax Increment Financing Commission of Kansas City, Missouri and J.E. Dunn Construction Company and a Development Agreement with the same parties for the implementation of Project 1 of the East Village Tax Increment Financing Plan and directing the City Manager to identify funds to cover certain potential shortfalls.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City Manager is authorized to execute a Funding and Acquisition Agreement with the Tax Increment Financing Commission of Kansas City, Missouri and J.E. Dunn Construction Company and a Development Agreement with the same parties for the implementation of Project 1 of the East Village Tax Increment Financing Plan. Both documents are approved in substantial form as those on file in the office of the Director of City Manager.

 

Section 2. That the City Manager is directed to identify funds to cover any potential shortfalls in the bond funding provided for the acquisition, abatement and clearance of the Block 100 property as well as the specific properties on Blocks 49 and 82. Any shortfalls will be required for the actual capital outlay, not for debt service, and thus will be needed at the time the project is bid.

 

_____________________________________________

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney