ORDINANCE NO. 240954

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Sponsor: City Manager's Office

Accepting and approving the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the termination of the 87th & Hillcrest Road Tax Increment Financing Plan and the termination of the designation of Redevelopment Project Area 1 described therein; declaring as surplus those funds within the Special Allocation Fund established in connection with Redevelopment Project Area 1; dissolving the Special Allocation Fund established in connection with the Redevelopment Project Area; authorizing the distribution of such surplus funds; and directing the City Clerk to send copies of this ordinance to Jackon County.

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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, 2015 and Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, on March 3, 2005, the City Council passed Committee Substitute for Ordinance No. 050212, which accepted the recommendations of the Commission and approved the 87th & Hillcrest Road 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 Redevelopment Plan contains one project area, project area 1, which is defined more specifically in Ordinance No....

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