ORDINANCE NO. 230355
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Sponsor: City Manager
Approving the Second Amendment to the 87th & Hillcrest Tax Increment Financing Plan.
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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"), and Ordinance No. 545556 adopted on November 24, 1982, as amended by Committee Substitute for Ordinance No. 911076 adopted on August 29, 1991, by Ordinance No. 100089 adopted on January 28, 2010, by Ordinance No. 130986 adopted on December 19, 2013 and by Committee Substitute for Ordinance No. 140823 adopted on June 18, 2015 (collectively, the "Enabling Ordinances") the City Council of Kansas City, Missouri created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on March 3, 2005, the City Council of Kansas City, Missouri (the "Council") passed Ordinance 050212, which accepted the recommendations of the Commission and approved the 87th & Hillcrest Tax Increment Financing Plan (the "Redevelopment Plan") and designated the Redevelopment Area described therein to be a blighted area (the "Redevelopment Area"); and
WHEREAS, the 87th & Hillcrest Tax Increment Financing Plan has since been amended one (1) time by Ordinance No. 060708; and
WHEREAS, on March 31, 2023, notice was given, as provided in Sections 99.825 and 99.830 of the Act, in connection with the Second Amendment to the Redevelopment Plan (the "Second Amendment");
WHEREAS, the Second Amendment provides for modifications (a) to the Estimated Budget of Redevelopment Projects, (b) to the Sources Funds described by the Plan and (c) to the exhibits to the Plan with such other conforming changes that are in furtherance of the forgoing modifications and such modifications do not alter the exterior boundaries of the Redevelopment Area or enlarge the exterior boundary of any Redevelopment Project Area descri...
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