ORDINANCE NO. 240264
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Sponsor: Councilperson Wes Rogers
Approving and designating Redevelopment Project 1 of the I-29 & I-435 Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefore.
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WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"), the City Council of Kansas City, Missouri (the "City Council"), by Ordinance No. 54556 passed on November 24, 1982, and thereafter amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, Ordinance No. 100089, as amended, passed on January 28, 2010, and Ordinance No. 130986, passed on December 19, 2013, Committee Substitute for Ordinance No. 140823, as amended on June 18, 2015, and Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, the City Council previously accepted the recommendations of the Commission and approved the I-29 & I-435 Tax Increment Financing Plan (the "Redevelopment Plan") and designated a Redevelopment Area; and
WHEREAS, the Redevelopment Plan contemplates a number of separate Redevelopment Projects and the adoption of tax increment financing in each of the areas selected for such Redevelopment Projects; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That all terms used in this ordinance shall be construed as defined in the Act.
Section 2. That the area selected for Redevelopment Project 1 legally described below is approved and designated by the Redevelopment Plan as Redevelopment Project 1 ("Project 1").
A tract of land in the South half of Section 14 Township 52 North, Range 34 West of the 5th Principal Meridian in Kansas City, Platte County, Missouri ...
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