ORDINANCE NO. 210296
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Estimating revenue in the amount of $1,300,000.00 in the Capital Improvements Sales Tax Fund; appropriating that amount to the Shoal Creek Trail Segment 3 account; authorizing the Director of Public Works to execute a $1,300,000.00 Amendment No. 2 to a Cooperative Agreement with the Tax Increment Financing Commission for a total amount of $1,400,000.00 for Segment 3 of the Shoal Creek Trail Project.
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WHEREAS, pursuant to the Real Property Tax Increment Financing Allocation Act, Section 99.800, RSMo, 1988, et seq., as amended ("Act"), on November 10, 1994, the City Council of Kansas City, Missouri, by way of Ordinance No. 941443, approved the Shoal Creek Parkway Tax Increment Financing Plan (the "Plan"), which has been amended from time to time under Ordinance Nos. 971310, 021283, 040457, 041218, 060903, 061320, 080419, 081118, 090262, 110073, 130532, 160592, and 170327; and
WHEREAS, during the course of the amendments, funding was identified for the design and construction of Segment 3 of the trail along Shoal Creek which will be a ten-foot-wide concrete trail along Shoal Creek from the west side of North Brighton to a point within Pleasant Valley Park; and
WHEREAS, on August 9, 2017, the Council approved Ordinance No. 170592, for design services in the amount of $100,000.00 for the Project; and
WHEREAS, the Commission and City wish to complete the project cooperatively and in partnership; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the revenue in the following account is estimated in the following amount:
21-3090-890001-485380-89020370 TIF Commission $1,300,000.00
Section 2. That the sum of $1,300,000.00 is appropriated from the Unappropriated Fund Balance of the Capital Improvement Fund to the following account in the Capital Improvement Fund:
21-3090-895911-B-89020370 Shoal Creek Trail Segment 3 $1,300,000.00
Section 3. That the Director of Public Works is authorized to execute a $1,300,000.00 amendment No. 2 to a cooperative funding agreement with the Tax Increment Financing Commission for providing for the design, right-of-way and construction of Segment 3 of the Shoal Creek Trail from the west side of North Brighton to a point within Pleasant Valley Park. The amendment is approved in substantial form as that on file in the office of the Director of Public Works.
I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.
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Tammy L. Queen
Director of Finance
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Approved as to form and legality:
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Nelson V. Munoz
Assistant City Attorney