ORDINANCE NO. 210266
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Acknowledging that the 23-year statutory period for the capture of tax increment
allocation financing within the Projects F, L and M of the Shoal Creek Parkway Tax Increment Financing Plan has expired; terminating the designations of Projects F, L, and M of the Plan as redevelopment projects; and directing the City Clerk to send copies of this ordinance to Clay County.
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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 further amended thereafter, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on November 10, 1994, the Council passed Ordinance No. 941443, which accepted the recommendations of the Commission as to the Shoal Creek Parkway Tax Increment Financing Plan (the "Plan"), approved the Redevelopment Plan, found the Redevelopment Area (the "Redevelopment Area") to be an economic development area, and designated the area as a Redevelopment Area. The Plan has been amended 19 times; and
WHEREAS, the Redevelopment Area is generally bound on the north by NE 108th Street and Missouri Route 291, on the east by the Kansas City - Liberty city limits and Missouri Route 291, on the south by the Kansas City - Pleasant Valley city limits, and on the west by Indiana and N Eastern Avenue in Kansas City, Clay County, Missouri; and
WHEREAS, Project F was approved by the passage of Ordinance No. 941449 on May 1, 1997, and Projects L and M were approved by Ordinance Nos. 971311 and 971312, respectively, on October 2, 1997.
WHEREAS, the 23- year period for the capture of tax increment allocation financing has expired and it is appropriate to terminate the designation of Projects F, L, and M; and
WHEREAS, the Commission, at its March...
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