ORDINANCE NO. 260458
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Sponsor: Director of Housing and Community Development Department
Accepting recommendations of the Central City Economic Development Tax Board; reducing existing appropriations of the Central City Economic Development Sales Tax Fund, Fund No. 2200 by $667,718.00 and appropriating the same; reducing existing appropriations of the Central City Economic Development Sales Tax Fund, Fund No. 2200 by $2,150,380.00 and appropriating the same; authorizing the Director of Housing and Community Development Department to expend up to $2,150,380.00 from funds previously appropriated in the Central City Economic Development Sales Tax fund; and authorizing the Manager of Procurement Services to execute various funding agreements in accordance to this Ordinance.
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WHEREAS, Section 67.1305 of the Revised Statutes 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 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, Greogory Boulevard on the south, Paseo Boulevard on the west and Indiana Avenue 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) promote...
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