ORDINANCE NO. 260906
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Sponsor: Director of Housing and Community Development Department
Accepting the recommendations of the Central City Economic Development (CCED) Tax Board; reducing the existing appropriation of the Central City Economic Development Sales Tax Fund by $100,000.00 for the Conrad Wright project and appropriating the same; reducing an existing appropriation by $2,000,000.00; appropriating $2,000,000.00 from the Unappropriated Fund Balance for additional funding to the Blue Hills Townhomes project; authorizing the Manager of Procurement Services to execute the necessary documents to amend the funding agreement; and authorizing the Director of Housing and Community Development to expend up to $2,000,000.00 from funds appropriated in the Central City Economic Development Tax Fund.
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WHEREAS, Section 67.1305 of the Revised Statues 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, then approved by, majority of the votes cast; and
WHEREAS, on April 4, 2017, pursuant to authority granted by Section 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 on the east; and
WHEREAS, the developers requested a public contribution and the Central City Economic Development Sales Tax Board recommended that funding be approved; and
WHEREAS, the developer subsequently identified a need for additional funding due to increases in construction labor and construction costs; and
WHEREAS, the projects 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 generated jobs (iii) promotes economic development in the area o...
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