ORDINANCE NO. 241055

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Sponsor:  City Manager’s Office

Authorizing the Kansas City Tax  Increment Financing Commission to surplus the funds remaining in the special allocation fund and the Winchester Housing Improvement Fund; authorizing the City Manager to enter into a Contribution Agreement with the Economic Development Corporation of Kansas City for the purposes of funding the remaining projects selected under the Winchester Housing Improvement Program; estimating and appropriating surplus revenues in the amount of $187,500.00 for the purpose of funding two  Winchester Housing Improvement Program projects ; and designating requisitioning authority.

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WHEREAS, on December 19, 1991, the City Council passed Ordinance No. 911435, which accepted the recommendations of the Commission as to the approval of the Winchester Center Tax Increment Financing Plan ("Redevelopment Plan" or "Plan") and the designation of the Redevelopment Area described therein to be a conservation area; and

WHEREAS, the Redevelopment Plan has been amended nine times; and

WHEREAS, the Plan, as amended, created the Winchester Housing Improvement Program (“Program”), which provided funds for a housing rehabilitation and repair program for homes within the targeted benefit area; and

WHEREAS, both the Program and the 23-year period for redirection of tax increment financing revenues have expired; and

WHEREAS, two program applications were pending at the time of the expiration of the Program, through no fault of the applicants; and

WHEREAS, all funds remaining in the special allocation fund, which the Kansas City Tax Increment Financing Commission is preparing to surplus consist of City revenues;  NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

                     Section 1. That the Kansas City TIF Commission is authorized to surplus those funds remining in the Winchester Center Tax Increment Financing Plan special allocation fund and the Winchester Home Improvement Funds.

                     Section 2.  That the City Manager is authorized to enter into a Contribution Agreement with the Economic Development Corporation of Kansas City for the purpose of funding the remaining two recommended Winchester Housing Program applications. A copy of the Contribution Agreement is attached hereto in substantial form.

Section 3. That the sum of $187,500.00 is estimated in the following account of the General Fund:

25-1000-120000-480560                     Contribution from Winchester TIF                                                                $187,500.00

Section 4.  That the sum of $187,500.00 is appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

25-1000-103300-618050                     Winchester Home Program                                                                                    $187,500.00
                     

                     Section 5.  That the City Manager is hereby designated as requisitioning authority for Account No. 25-1000-103300-618050. 

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I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

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Tammy L. Queen

Director of Finance

Approved as to form:

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Emalea K. Black

Associate City Attorney