ORDINANCE NO. 240686
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Sponsor: City Manager
Acknowledging that the twenty-three-year statutory period for the capture of tax increment allocation financing within Projects 10, 14, 16, 21, 24, and 27 of the 22nd & Main Tax Increment Financing Plan has expired; terminating the designation of Projects 10, 14, 16, 21, 24, and 27 of the 22nd and Main Tax Increment Financing Plan as redevelopment projects therein; and directing the City Clerk to send copies of this ordinance to Jackson County.
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WHEREAS, 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"), the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and further amended thereafter, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, the Council by passage of Ordinance No. 980230 on March 19, 1998, approved the 22nd and Main Tax Increment Financing Plan ("TIF Plan"); and
WHEREAS, the twenty-three year statutory period for the capture of tax increment allocation financing within Projects 10, 14, 16, 21, 24, and 27 of the TIF Plan has expired; and
WHEREAS, the Commission, at its July 10, 2024, meeting, adopted Resolution No. 7-26-24, which recommends termination of the designation of those projects; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Council hereby acknowledges that the twenty-three-year statutory period for the capture of tax increment allocation financing within Projects 10, 14, 16, 21, 24, and 27 of the TIF Plan has expired.
Section 2. That the designation of Projects 10, 14, 16, 21, 24, and 27 of the 22nd & Main TIF Plan as redevelopment projects is hereby terminated.
Section 3. That the City Clerk is hereby directed to send copies of this ordinan...
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