ORDINANCE NO. 260541
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Sponsor: City Manager's Office
Accepting and approving the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the termination of the River Market Tax Increment Financing Plan and the termination of the designation of Redevelopment Project Areas 5, 6, 7, 9, 10, 12, 13, 14, 15, 16, and 17 described therein; acknowledging that the twenty-three-year statutory periods for the capture of tax increment financing within Redevelopment Project Areas 1, 2, 3, 4, and 8 have expired; declaring as surplus those funds within the special allocation fund(s) established in connection with such Redevelopment Project Areas; dissolving the special allocation fund(s) established in connection with such Redevelopment Project Areas; and directing the City Clerk to send copies of this ordinance to Jackson 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 (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, 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, on December 16, 1999, the City Council passed Ordinance No. 991556, which accepted the recommendations of the Commission and approved the River Market Tax Increment Financing Plan (the "Redevelopment Plan") and designated the Redevelopment Area described therein to be a Conservation Area (the "Redevelopment Area"); ...
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