ORDINANCE NO. 210435
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Approving the Twelfth Amendment to the Summit Tax Increment Financing Plan; and directing the City Clerk to transmit copies of this ordinance.
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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"Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, Ordinance No. 100089, passed on January 28, 2010, Ordinance No. 130986, passed on December 19, 2013, and Committee Substitute for Ordinance No. 140823, as amended, passed on June 18, 2015 (the "Authorizing Ordinances") created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on August 31, 1995, the Council passed Committee Substitute for Ordinance No. 951016, which accepted the recommendations of the Commission as to the Summit Tax Increment Financing Plan (the "Redevelopment Plan"); and
WHEREAS, the Redevelopment Plan has been amended eleven times by the Council; and
WHEREAS, the Twelfth Amendment to the Summit Tax Increment Financing Plan (the "Twelfth Amendment") has been proposed; and
WHEREAS, the Twelfth Amendment provides for the modifications to line items in the budget for Project 25, without increasing the total budget for Project 25; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Twelfth Amendment to the Summit Tax Increment Financing Plan attached hereto as Exhibit "A" is hereby approved.
Section 2. That all terms used in this Ordinance, not otherwise defined herein, shall have such meanings ascribed to them in the Act and in the Redevelopment Plan.
Section 3. That in accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby ...
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