ORDINANCE NO. 240855
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Sponsor: Councilmember Crispin Rea
Acknowledging that the twenty-three-year statutory period for the capture of tax increment allocation financing within Project A of the Hotel Phillips Tax Increment Financing Plan has expired; terminating the designation of Project A as a redevelopment project therein; declaring all payments in lieu of taxes and economic activity taxes on deposit in the Special Allocation Fund established in connection with Project A as surplus, and dissolving the Special Allocation Fund established in connection with Project A; estimating and appropriating the sum of $1,700,000.00; 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. 000382 on April 15, 2000, approved the Hotel Phillips Tax Increment Financing Plan ("TIF Plan"); and
WHEREAS, the twenty-three-year statutory period for the capture of tax increment allocation financing within Project A has expired; and
WHEREAS, the Commission, at its December 12, 2023, meeting, adopted Resolution No. 12-11-23, which recommends termination of the designation of Project A; declaration of surplus of all payments in lieu of taxes and economic activity taxes in the Special Allocation Fund established in connection with Project A; and dissolution of the Special Allocation Fund in connection with Project A; 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 ...
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