ORDINANCE NO. 211088
title
Estimating revenues in the amount of $400,000.00 in the Capital Improvement Fund; appropriating that amount to the N. Brighton Avenue from N.E. 58th Street to Pleasant Valley Road account; and approving an Amended and Reinstated Agreement with the Shoal Creek Tax Increment Financing (TIF) Plan for a total contract amount of $10,900,000.00.
body
WHEREAS, on November 10, 1994, the Council passed Ordinance No. 941443, which accepted the recommendations of the Commission as to the approval of Shoal Creek Parkway Tax Increment Financing Plan (the "Redevelopment Plan" or "Plan'') and the designation of the Redevelopment Area described thereby as an economic development area, and authorized the Commission to take all such action as may be needed to effectuate the Redevelopment Plan; and
WHEREAS, the N. Brighton Avenue from N.E. 58th Street to Pleasant Valley Road project is part of the Shoal Creek Parkway Tax Increment Financing Plan; and
WHEREAS, on July 18, 2019, the City Council, passed Ordinance No. 190550 which previously estimated and appropriated revenues the amount of $10,500,000.00 for the Project;
WHEREAS, On November 14, 2019, the Council, pursuant to Ordinance No. 190894, approved the Sixteenth Amendment to the Plan, which provides, in part, an increase by $400,000.00 of the costs related to the Public Infrastructure Improvements; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the revenue in the following account of the Capital Improvements Fund is hereby estimated in the following amount:
22-3090-895911-4845380-89020217 Reimbursement from TIF Commission $400,000.00
Section 2. That the sum of $400,000.00 is appropriated from the unappropriated fund balance of the Capital Improvements fund and increases the appropriation of the following account of the Capital Improvements Fund:
22-3090-895911-B-89020217 N. Brighton - 58th to Pleasant Valley $40...
Click here for full text