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File #: 220564    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 6/24/2022 In control: Neighborhood Planning and Development Committee
On agenda: 7/13/2022 Final action: 7/21/2022
Title: Accepting the recommendation of the Central City Economic Development Tax Board for additional funding in the amount of $150,000.00 for a total not to exceed amount of $2,950,000.00 for an economic development project proposed by Oak Park Neighborhood Association for the purpose of funding to support development of a multi-family housing project consisting of 29 affordable units located at 38th Street and Prospect; estimating and appropriating $150,000 from the Central City Economic Development Sales Tax Fund; and authorizing the Director of Housing to execute the Amendment.
Attachments: 1. Fact Sheet - CCED Oak Park Townhomes, 2. Fiscal Note - CCED Oak Park Townhomes, 3. Approp Admin - TMP 1986, 4. Authenticated Ordinance 220564
ORDINANCE NO. 220564

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Accepting the recommendation of the Central City Economic Development Tax Board for additional funding in the amount of $150,000.00 for a total not to exceed amount of $2,950,000.00 for an economic development project proposed by Oak Park Neighborhood Association for the purpose of funding to support development of a multi-family housing project consisting of 29 affordable units located at 38th Street and Prospect; estimating and appropriating $150,000 from the Central City Economic Development Sales Tax Fund; and authorizing the Director of Housing to execute the Amendment.

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WHEREAS, Section 67.1305 of the Revised Statutes of Missouri authorizes the City to impose a retail sales tax not to exceed one-half of one percent if the imposition of such a retail sales tax is submitted to, and then approved by, a majority of the votes cast; and

WHEREAS, on April 4, 2017, pursuant to authority granted by Section 67.1305, RSMo, a majority of Kansas City, Missouri voters approved a new 1/8 of one percent retail sales tax for funding economic development projects within the area bounded by 9th Street on the north, Gregory Boulevard on the south, Paseo Boulevard on the west and Indiana Avenue on the east; and

WHEREAS, as part of the second round of funding, Oak Park Neighborhood Association ("Developer") submitted a proposal seeking $2,800,000.00 of Central City Economic Development ("CCED") sales tax funds for the construction of a multi-family housing project consisting of 29 affordable units (the "Project") generally located at 38th Street and Prospect (the "Project Site"), all in Kansas City, Jackson County, Missouri; and

WHEREAS, the Council authorized a funding agreement with Oak Park Neighborhood Association for the above Project in the amount of $2,800,000.00 with its passage of Ordinance No. 190652 on August 29, 2019; and

WHEREAS, Developer subsequently identified a need for additio...

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