ORDINANCE NO. 250498
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Sponsor: Director of Housing and Community Development Department
Authorizing the Manager of Procurement Services to execute a Central City Economic Development (CCED) $1,189,822.00 funding agreement with Linvista Flats, LLC, for renovation of fourteen (14) residential units at 1601-1603 Linwood Boulevard; and authorizing the Director of the Housing and Community Development Department to expend up to $1,189,822.00 of previously appropriated Central City Economic Development Fund.
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WHEREAS, Section 67.1305 of the Revised Statuses of Missouri authorizes the City to impose a retail sales tax not to exceed one-half of one percent if the imposition of such a retail sales tax is submitted to, and then approved by, a majority of votes cast; and
WHEREAS, on April 4, 2017, pursuant to authority granted by Section 67.1304, RSMo, a majority of Kansas City, Missouri voters approved a new 1/8 of one percent retail sales tax for funding economic development projects within the area bounded by 9th Street on the north, Gregory Boulevard on the south, Paseo Boulevard on the west and Indiana Avenue on the east; and
WHEREAS, the project serves a predominantly public municipal purpose because, without limitation, completion of the project (i) enhances the tax base of the Project Site; (ii) retains and generates jobs; (iii) promotes economic development in the area of the City in which the Project Site is located, and promotes consideration of areas of the City that the City Council has determined to be blighted as a location for business operations; (iv) results in generation of tax revenues to the City from the conduct of business and other activities in the City that would otherwise occur; (v) serves as a catalyst for additional investment in and further redevelopment and rehabilitation of the area of the City in which the Project Site is located; and (vi) furthers the City's policy of encouraging economic stability and growt...
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