ORDINANCE NO. 241055
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Sponsor: City Manager's Office
Authorizing the Kansas City Tax Increment Financing Commission to surplus the funds remaining in the special allocation fund and the Winchester Housing Improvement Fund; authorizing the City Manager to enter into a Contribution Agreement with the Economic Development Corporation of Kansas City for the purposes of funding the remaining projects selected under the Winchester Housing Improvement Program; estimating and appropriating surplus revenues in the amount of $187,500.00 for the purpose of funding two Winchester Housing Improvement Program projects ; and designating requisitioning authority.
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WHEREAS, on December 19, 1991, the City Council passed Ordinance No. 911435, which accepted the recommendations of the Commission as to the approval of the Winchester Center Tax Increment Financing Plan ("Redevelopment Plan" or "Plan") and the designation of the Redevelopment Area described therein to be a conservation area; and
WHEREAS, the Redevelopment Plan has been amended nine times; and
WHEREAS, the Plan, as amended, created the Winchester Housing Improvement Program ("Program"), which provided funds for a housing rehabilitation and repair program for homes within the targeted benefit area; and
WHEREAS, both the Program and the 23-year period for redirection of tax increment financing revenues have expired; and
WHEREAS, two program applications were pending at the time of the expiration of the Program, through no fault of the applicants; and
WHEREAS, all funds remaining in the special allocation fund, which the Kansas City Tax Increment Financing Commission is preparing to surplus consist of City revenues; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Kansas City TIF Commission is authorized to surplus those funds remining in the Winchester Center Tax Increment Financing Plan special allocation fund and the W...
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