File #: 230885    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 9/28/2023 In control: Neighborhood Planning and Development Committee
On agenda: 10/11/2023 Final action: 10/26/2023
Title: Sponsor: City Manager Approving the Third Amendment to the Bannister & Wornall Tax Increment Financing Plan.
Sponsors: City Manager's Office
Attachments: 1. TIF_ Bannister & Wornall - Exhibit 5A (Estimated Redevelopment Project Costs) to Third Amendment to TIF Plan(609062156.1), 2. TIF_ Bannister & Wornall TIF Plan - Exhibit 7 (Sources of Funds) to Third Amendment to TIF Plan(609062167.1), 3. TIF - Bannister and Wornall - Third Amendment to TIF Plan(609060554.1), 4. 230885 Docket Memo, 5. Authenticated Ordinance 230885
ORDINANCE NO. 230885

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Sponsor: City Manager

Approving the Third Amendment to the Bannister & Wornall 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"), 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, and Ordinance No. 130986, passed on December 19, 2013, Committee Substitute for Ordinance No. 140823, as amended on, June 18, 201 and Committee Substitute for Ordinance No. 230524, passed on June 22, 20235, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, on May 14, 2014, the City Council of Kansas City, Missouri (the "Council") passed Ordinance No. 140372, which accepted the recommendations of the Commission and approved the Bannister & Wornall Tax Increment Financing Plan (the "Original Plan") and designated the Redevelopment Area described therein to be a blighted area (the "Redevelopment Area"); and

WHEREAS, on January 25, 2018, the Council passed Ordinance No. 180019 approving the First Amendment to the Bannister & Wornall Tax Increment Financing Plan (the "First Amendment"), which provides for certain modifications to the Redevelopment Schedule for the implementation of Redevelopment Project B, as described by the Plan ; and

WHEREAS, on November 3, 2022, the Council passed Ordinance No. 229068 approving the Second Amendment to the Bannister & Wornall Tax Increment Financing Plan (the "Second Amendment", and together with the First Amendment and the Original Plan, the "Plan" or "Redevelopment Plan"), which provides for certain modifications to the (a...

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