ORDINANCE NO. 260919
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Sponsor: Director of Finance Department
Establishing Fund No. 2220, the ProspectUs Fund, in the records of the City of Kansas City, Missouri; authorizing the City Manager to continue to use certain incremental property and economic activity taxes from the former Blue Ridge Mall Tax Increment Financing Plan area in support of the ProspectUS plan; and establishing an expiration date of the redirection.
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WHEREAS, the Blue Ridge Mall Tax Increment Financing Plan (the “TIF Plan”) was approved by the City Council on February 24, 2005, with Ordinance No. 041238; and
WHEREAS, the TIF Plan was then terminated and any funds within the Special Allocation Fund were declared surplus and distributed by Ordinance No. 260589, passed on July 9, 2026; and
WHEREAS, upon termination of the TIF Plan, the City and other taxing jurisdictions have begun to collect full property and economic activity taxes from the former TIF Plan area; and
WHEREAS, the ProspectUs Equitable Transit Oriented Development Strategic Plan (the “ProspectUS Plan”) was adopted by Resolution No. 250148; and
WHEREAS, Resolution No. 250413 directed the City Manager to develop a strategy for implementation of the ProspectUs Plan, negotiate with the Economic Development Corporation (“EDC”) for the creation of an advisory group, and negotiate with the EDC to include in the 2026-2027 EDC annual contract funding for a ProspectUs Plan Manager utilizing funding from positions created in the Fiscal Year 2025-2026 Adopted Budget; and
WHEREAS, Resolution No. 260666 directed the City Manager to identify funding that may be used to support economic development, redevelopment, public improvements, housing, blight remediation, neighborhood stabilization, and related activities in the area consisting of Prospect Avenue and parcels directly fronting Prospect Avenue between East 9th Street and East Gregory Boulevard; and
WHEREAS, the City desires to use those City revenues that were previously redirected pursuant to the TIF Plan to support the implementation of the ProspectUS Plan; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That Fund No. 2220, the ProspectUS Fund, is hereby established in the records of the City of Kansas City, Missouri.
Section 2. That the City Manager is authorized to contribute 50% of the 1.00% Capital Improvements Sales Tax, 50% of the 0.25% Public Safety Sales Tax, and 100% of unrestricted incremental property taxes collected each year within the areas that were previously Project Areas 1 and 2 of the TIF Plan, beginning in Fiscal Year 2028, to the ProspectUS Fund.
Section 3. That this ordinance shall be effective until April 30, 2056, unless extended by council.
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Approved as to form:
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Emalea Kohler
Associate City Attorney