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[COMMITTEE SUBSTITUTEFOR] ORDINANCE NO. 260924, AS AMENDED
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Sponsor: Mayor Quinton Lucas
COMMITTEE SUBSTITUTE AS AMENDED
Approving the recommendations of the Tax Increment Financing Commission of Kansas City, Missouri, as to the 47th and Broadway Tax Increment Financing Plan and approving the 47th and Broadway Tax Increment Financing Plan; approving the City’s contribution of additional EATs generated in the Plan Area; and authorizing the City Manager to enter into agreements with the Kansas City TIF Commission and CC Plaza Owner LLC.
FINANCE COMMITTEE recommends “Advance and Do Pass as a Committee Substitute, Debate”.
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WHEREAS, the Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”) was created pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”), and by Ordinance No. 54556 of the City Council of Kansas City, Missouri (the “City Council”), adopted on November 24, 1982, and thereafter amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, adopted on August 29, 1991, by Ordinance No. 100089, as amended, adopted on January 28, 2010, by Ordinance No. 130986, adopted on December 19, 2013, by Committee Substitute for Ordinance No. 140823, as amended, adopted on June 18, 2015, by Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, and by Committee Substitute for Ordinance No. 240045 passed on March 21, 2024 (“Enabling Ordinances”); and
WHEREAS, the 47th and Broadway Tax Increment Financing Plan (the “Redevelopment Plan”) was proposed to the Commission; and
WHEREAS, the Redevelopment Plan proposes to assist in funding costs incurred for the repair, replacement, reconstruction, rehabilitation, relocation and/or construction of various public and private infrastructure within and around the Redevelopment Project Area anticipated to include parking fa...
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