ORDINANCE NO. 240256

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Sponsor: Mayor Quinton Lucas and Councilperson Crispin Rea

Approving the recommendations of the Tax Increment Financing Commission as to the West Bottoms Tax Increment Financing Plan; approving the City's contribution of additional EATs generated in the Plan Area; directing the Director of Finance to develop a finance plan; and authorizing the City Manager to enter into a Redevelopment Agreement with the Kansas City TIF Commission.

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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, the West Bottoms Tax Increment Financing Plan (the "Redevelopment Plan") was proposed to the Commission; and

WHEREAS, the Redevelopment Plan provides for the construction: provides for the construction of public infrastructure improvements, including, without limitation, sanitary and storm sewers, utilities, sidewalks, and any other required or desirable infrastructure (collectively, the "Public Improvements") that will encourage the construction of approximately 108,000 square feet of office space, 108,300 square feet of retail space, 589 multifamily units, which may include affordable units (the "Affordable Units"), and 40 hotel rooms; and

WHEREAS, the proposed Redevelopment A...

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