IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION expressing the intent of the Legislature to assist Dean Realty Company in the construction of, and to provide reimbursement for, one or more above ground and underground redevelopment project(s) and matters related thereto.
Intro
RESOLUTION #13970, January 7, 2002
INTRODUCED BY Bill Petrie, County Legislator
Body
WHEREAS, the Legislature wishes to assist Dean Realty Company (the "Developer") in the construction of one or more projects consisting of above ground and underground improvements (each a "Project") on property generally located east of Interstate 435, north of Truman Road, west of Blue Ridge Boulevard and south of Ninth Street (the "Property"); and,
WHEREAS, the Developer will agree, subject to approval of a tax increment financing plan ("TIF Plan") by the County and the execution of a redevelopment contract, to develop the Project; and,
WHEREAS, the Developer has represented to the Legislature that it would not construct the Project on the Property without assistance in the form of payments in lieu of taxes and incremental tax revenues generated by the Project to pay for certain redevelopment costs; and,
WHEREAS, the Developer desires to commence the development of the Property and to expend at-risk funds for certain predevelopment and site preparation costs and expenses in connection with the commencement of such development, all prior to the approval by the County of a TIF Plan; and,
WHEREAS, the County intends, subject to approval of a TIF Plan and the execution of a redevelopment contract, to provide for reimbursement of the costs and expenses associated with the redevelopment of the Property, including any such costs and expenses incurred by Developer prior to approval of a TIF Plan, which reimbursement may be financed by the issuance of TIF Bonds (the "TIF Bonds") in an amount to be determined, but in any event not to exceed $75,000,000; and...
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