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[COMMITTEE SUBSTITUTE FOR]ORDINANCE NO. 250529
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Sponsor: Councilmember Darrell Curls
COMMITTEE SUBSTITUTE
Estimating surplus Tax Increment Finance (TIF) revenue in the amount of $127,000.00 in the General Fund; reducing an appropriation in the Capital Improvement Sales Tax Fund in the amount of $272,000.00 and appropriating a like transfer to the General Fund; appropriating $399,000.00 from the unappropriated fund balance of the General Fund for the purpose of blight remediation in the 5th District; designating requisitioning authority; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, on November 9, 2017, Council approved Ordinance No. 170891, declaring certain non-contiguous areas along the Bannister Road and Blue Ridge Boulevard Corridors, east of US Highway 435 and west of Elma Avenue, north of 99th Street, and south of 87th Street, as blighted; and
WHEREAS, with Ordinance No. 170891, Council approved the East Bannister PIEA General Development Plan (with amendments the "Plan"); and
WHEREAS, on July 2, 2018, the Council passed Ordinance No. 180471 amending the Plan and expanding the Plan Area, as defined more specifically in the Plan; and
WHEREAS, the City received $235,520.00 in surplus Tax Increment Finance (TIF) revenues from the termination of the Winchester Center TIF and appropriated $187,500 to the Winchester Home Program with the passage of ordinance no. 241055; and
WHEREAS, the City, Jackson County, Missouri (the "County"), Raytown Consolidated School District No. 2 (the "School District"), and the Mid-Continent Public Library (the "Library") entered into a certain 2013 intergovernmental agreement (the "Intergovernmental Agreement") to contribute funds each taxing district would have otherwise been entitled to receive per Sections 99.800 to 99.865 RSMo. (the "TIF Act"), in the total amount of $2,832,000.00 (the "Remaining Project Fun...
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