committeesub
[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230285
title
Sponsor(s): Mayor Quinton Lucas and Councilmembers Kathryn Shields and Eric Bunch
Authorizing an application to the Missouri Development Finance Board ("MDFB") for the authorization of state tax credits in an amount not to exceed $15,000,000.00 to make possible the South Loop Link in Kansas City, Missouri; and authorizing the City Manager to execute a tax credit agreement in the event that the application is approved.
body
WHEREAS, the City of Kansas City ("City"), the Port Authority of Kansas City ("Port KC"), the Downtown Council of Kansas City ("Downtown Council"), and the Downtown Kansas City Community Improvement District ("Downtown KC CID") (collectively, the "Partnership") entered into that certain Memorandum of Understanding dated September 22, 2022, to form a public private partnership on the creation of an outdoor park and venue space with landscaping and recreational amenities covering 5.5 acres over I-670 from Wyandotte Street to Grand Boulevard ("South Loop Link"); and
WHEREAS, the South Loop Link will deliver new recreational opportunities for residents and visitors of Kansas City by providing an enhanced green mobility hub with green and healthy living space, a climate-responsive design, ongoing programming for recreational and wellness activities, and healthy connections between neighborhoods previously separated by I-670; and
WHEREAS, the South Loop Link will generate substantial additional revenues for the City and the State of Missouri, remediate the blighting effect of the trench designated I-670, promote the advancement of tourism, and enable regional job access and produce new jobs for Kansas City and Western Missouri; and
WHEREAS, the South Loop Link will increase economic activity throughout the Central Business District, Crossroads Arts District, Power & Light District, and other downtown areas shown on attached Exhibit ...
Click here for full text