ORDINANCE NO. 250416
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Sponsor: City Manager's Office
Accepting and approving the recommendation of the Kansas City Tax Increment Financing Commission, as to the termination of the Grand Reserve Tax Increment Financing Plan and the termination of the designation of Redevelopment Project Area 1; declaring as surplus those funds within the special allocation fund established in connection with such Redevelopment Project Area 1; authorizing the City Manager to enter into a Termination and Mutual Release Agreement related to the Sales Tax Contribution Agreement; 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 (the "City Council") by Ordinance No. 54556 passed on November 24, 1982, and thereafter amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, Ordinance No. 100089, as amended, passed on January 28, 2010, and Ordinance No. 130986, passed on December 19, 2013, Committee Substitute for Ordinance No. 140823, as amended on, June 18, 2015 and Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, created the Kansas City Tax Increment Financing Commission (the "Commission"); and
WHEREAS, on May 12, 2016, the City Council passed Committee Substitute for Ordinance No. 160163, which accepted the recommendations of the Commission and approved the Grand Reserve Tax Increment Financing Plan (the "Redevelopment Plan"), designated the Redevelopment Area described therein to be a Conservation Area (the "Redevelopment Area") and the Redevelopment Project Area 1 described therein (the "Redevelopment Project Area"), and authorized a Sales Tax Contribution Agreement; and
WHEREAS, the Redevelopment Plan and Sales Tax Contribution...
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