ORDINANCE NO. 260363

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Sponsor: Councilmember Kevin O'Neill

Approving the recommendations of the Tax Increment Financing Commission of Kansas City, Clay County, Missouri as to the 435 & Soccer Drive Tax Increment Financing Plan and approving the 435 & Soccer Drive Tax Increment Financing Plan; approving the City's contribution of Additional EATs generated within the Redevelopment Area of the Redevelopment Plan; and authorizing the City Manager to enter into a Tax Contribution and Disbursement Agreement with the Kansas City TIF Commission and Land Reserve, Inc.

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WHEREAS, the Tax Increment Financing Commission of Kansas City, Clay County, Missouri (the "Commission") 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, by Committee Substitute for Ordinance No. 140823, as amended, adopted on June 18, 2015, by Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, and by Committee Substitute for Ordinance No. 240045 on March 21, 2024 ("Enabling Ordinances"); and

WHEREAS, the 435 & Soccer Drive Tax Increment Financing Plan (the "Redevelopment Plan") was proposed to the Commission; and

WHEREAS, the Redevelopment Plan provides for Infrastructure Improvements to support the Redevelopment Plan which proposes the redevelopment of the Redevelopment Area in multiple Redevelopment Projects, and anticipates the development of a mix of single-family homes, townhomes, and multi-family residential units, retail and restaurant space, a hotel and potential ...

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