ORDINANCE NO. 241003

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Sponsor:  City Manager’s Office

Determining that the 1200 Main/South Loop Tax Increment Financing Plan is making satisfactory progress under the proposed time schedule for completion of the projects therein.

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WHEREAS, the 1200 Main/South Loop Tax Increment Financing Plan (the “Plan”) was approved by the City Council on March 4, 2004 by Ordinance No. 040154; and

                     WHEREAS, Section 99.865.3 RSMo, provides that five-years after the establishment of a redevelopment plan, and every five year thereafter, the Council shall hold a public hearing regarding those redevelopment plans and projects created pursuant to Sections 99.800 to 99.866, RSMo, to determine if the redevelopment project is making satisfactory progress under the proposed time schedule contained within the approved plans for completion of such projects, and

                     WHEREAS, after proper notice, the Council has held such public hearing, and received information on the progress of the Plan; NOW, THEREFORE,

                     BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

                     Section 1. That Council hereby determines that the 1200 Main/South Loop Tax Increment Financing plan is making satisfactory progress under the proposed time schedule contained within the approved plan for completion of the projects therein.

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Approved as to form:

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Emalea Black

Associate City Attorney