ORDINANCE NO. 250271
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Sponsor: Councilmember Crispin Rea
Consenting to the creation of a port improvement district overlaying certain real property generally located east of the Christopher S. Bond Bridge and leased to Port KC for the purpose of imposing a 1% sales and use tax; directing the City Manager to support the creation of the port improvement district; and directing the City Manager to cast a ballot, on behalf of the City, in favor of the sales and use tax.
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WHEREAS, the Port Authority of Kansas City, Missouri is authorized by the Port Improvement District Act, Sections 68.200 et seq., RSMo, ("Act") to petition the circuit court for the creation of a special taxing district ("PID"); and
WHEREAS, Bally's and the proposed developer of a hotel adjacent to the casino currently sublease, or will sublease, certain real property generally located east of the Christoper S. Bond Bridge and have requested the creation of a new PID for the purpose of generating revenues to fund the costs to be incurred in the design and construction of the hotel, with any additional revenues being utilized to make public improvements as authorized by the Act; and
WHEREAS, the Act requires that any petition to create a PID have the consent of the relevant property owners; and
WHEREAS, upon court approval of the PID, the City, in its capacity as the property owner, will have the right to cast a ballot in support of the 1% sales and use tax; and
WHEREAS, the creation of the PID will impose no monetary obligations on the City and will assist in generating revenues that will enhance and maintain a publicly owned asset; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That pursuant to Section 68.210.2, RSMo., the City consents to the filing of a petition for approval of a port improvement district as contemplated herein and that would be authorized to seek voter approval for a 1% sales and use tax.
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