ORDINANCE NO. 240723
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Sponsor: Councilmember Melissa Patterson Hazley
Authorizing the City Manager to execute a contract amendment with Economic Development Corporation of Kansas City, Missouri (EDC) to appoint the EDC as program administrator to assist the Central City Economic Development Sales Tax Board with implementation of economic development programs.
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WHEREAS, the Central City Economic Development Sales Tax Board (the "Board"), pursuant to Section 67.1305, RSMo and Section 68-449 of the City of Kansas City's Code of Ordinances, is responsible for considering economic development projects within the Central City Economic Development ("CCED") District and making recommendations on funding such projects to the City Council (the "City Council") of the City of Kansas City, Missouri (the "City"); and
WHEREAS, the Board currently receives administrative and other support from various City departments, including Neighborhood and Housing Services and Law, as well as a consulting firm under contract with the City; and
WHEREAS, the Board wishes to appoint a new program administrator to assist with administrative and other support services from a person or entity outside of City departments; and
WHEREAS, the Board met on August 13, 2024 and passed a resolution recommending the transfer of program administration to the EDC; and
WHEREAS, Ordinance No. 240400 approved an annual contact between the City and EDC; and
WHEREAS, the EDC offers a diverse range of tools to support the economic development process of detailed project analysis and feasibility; and
WHEREAS, the EDC has partnering agencies to help solve financial deal-structuring (e.g. feasibility gap) problems and performs public-side due diligence, while striving to leverage the maximum amount of private investment with the least amount of public resources; and
WHEREAS, the CCED sales tax allows for partial use of the tax for administrative purpos...
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