ORDINANCE NO. 260582
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Sponsor: Director of Housing and Community Development Department
Accepting the recommendations of the Central City Economic Development Tax Board; reducing an existing appropriation by $6,583,180.00 and appropriating $6,583,180.00 from the Unappropriated Fund Balance in the Central City Economic Development; authorizing the Manager of Procurement Services to execute various funding agreements in accordance with this Ordinance; and authorizing the Director of the Housing and Community Development Department to expend up to $6,583,180.00 from the funds appropriated in the Central City Economic Development Fund.
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WHEREAS, Section 67.1305 of the Revised Statuses of Missouri authorized the City to impose a retail sales tax not to exceed one-half of one percent if the imposition of such a retail sales tax is submitted to, and then approved by, a majority of the votes cast; and
WHEREAS, on April 4, 2017, pursuant to authority granted by Section 67.1304, RSMo, a majority of Kansas City, Missouri voters approved a new 1/8 of one percent retail sales tax for funding economic development projects within the area bounded by 9th Street on the north, Gregory Boulevard on the south, Paseo Boulevard on the west and Indiana Avenue on the east; and
WHEREAS, the projects serve a predominantly public municipal purpose because, without limitation, completion of the project (i) enhance the tax base of the Project Site; (ii) retain and generate jobs; (iii) promote economic development in the area of the City in which the Project Site is located, and promotes consideration of areas of the City that the City Council has determined to be blighted as a location for business and other activities in the City that would not otherwise occur; (v) serve as a catalyst for additional investment in and further redevelopment and rehabilitation of the area of the City in which the Project Site is located; and (vi) further the City's policy o...
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