ࡱ> PRO Z;bjbjVV 2J<<G  }}},lIYYYY&RE}n@  YY&___ RY}Y___["_YĨ- @_<0l_ M  _ }_l0"_Yl  :  SEQ CHAPTER \h \r 1  Ordinance Number Brief Title: Approval Deadline: Reason: Authorizing settlement with No deadline Seeking approval of settlement with Clay County re: Clay County re: road and road and bridge taxes bridge taxes Details Positions / Recommendations Reason for Legislation To seek approval of the terms of the attached Settlement Agreement with Clay County, Missouri to resolve the dispute between the City and Clay County, Missouri relating to the amounts Clay County was to have paid over to the City to be used for road and bridge purposes within that part of the City located within Clay County for the years 2008 through 2011 and the additional dispute relating to the future annual amounts Clay County is to pay over to the City to be used for the same road and bridge purposes.Sponsor(s) Councilpersons Davis, Wagner and Ford Programs, Departments, or Groups Affected Public Works, and FinanceApplicants/ProponentsApplicant City Department Other Discussion (including relationship to other Council actions) The proposed Settlement Agreement provides for Clay County to pay to the City in two installments an amount of $1,786,026 for disputed amounts owed for the years 2008 through 2011 and provides for future payments by Clay County to the City in an amount computed at a rate of 40% of the maximum authorized real property levy of 0.35 per $100 assessed valuation that Clay County could levy. In addition, the proposed Settlement Agreement provides an opportunity for the City to receive an additional payment for calendar years 2013 through 2026 from any annual, gross sales tax revenue collected by Clay County pursuant to taxing authority granted under Section 67.547, RSMo., in excess of $7 million, but only up to $9 million. In 2027 and the years thereafter, the maximum is raised to $10M. If there is such an excess in any given year, Clay County will pay over 50% of that excess to the municipalities and road districts who participate in this settlement and the municipalities and road districts will share that 50% of excess in the same percentage proportion OpponentsGroups or Individuals Basis of Opposition Staff Recommendation9 For 9 Against Reasons Against: Board or Commission Recommendation9 For 9 Against 9 No Action Taken 9 For, with revisions or conditionsCouncil Committee Action9 Do Pass 9 Do Pass (as amended) 9 Committee Substitute 9 No Recommendation 9 Hold 9 Do Not Pass Details Policy / Program Impact as that entity received for the annual levy that year. In making any such payment, any reductions in the sales tax actually incurred by the County (e.g., a TIF reduction) shall be borne equally by all the settling municipalities and road districts. Similar settlement terms are being presented to all municipalities and road districts in Clay County. The Settlement Agreement contains a most favored nation to protect the City. A Committee Substitute was required because three significant terms of the proposed Settlement Agreement have changed from that attached to the original ordinance. First, no distributions from sales tax revenues in excess of $7 million will occur unless the state legislation memorializing key terms of this Settlement Agreement has been passed by the Missouri General Assembly. Second, the Settlement Agreement can be terminated by either party if the state legislation has not been passed by May 31, 2014. Third, a provision has been added by which Clay County, as a political body, agrees not to oppose any future legislation sought by the City that might affect Clay County or the residents of Clay County. Is this Ordinance Good for the Children? - No direct impact Does this Ordinance contribute to a sustainable Kansas City? 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