IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION authorizing the County Executive to execute the First Amendment to the Universal Floodwater Detention TIF Plan Cooperative Agreement with the City of Kansas City, Missouri, and the Tax Increment Financing (TIF) Commission of Kansas City, Missouri, related to the disbursement of surplus funds to the taxing jurisdictions within the County.
Intro
RESOLUTION NO. 19814, April 9, 2018
INTRODUCED BY Theresa Galvin, County Legislator
Body
WHEREAS, by Resolution 19651, dated November 13, 2017, the Legislature did authorize the execution a Cooperative Agreement with the Kansas City, Missouri TIF Commission related to the Fifth Amendment to the Universal Floodwater Detention TIF Plan, in connection with certain infrastructure improvements within the TIF district; and,
WHEREAS, a special allocation fund was created in connection with the redevelopment project and there is a balance of funds in excess of the costs associated with the plan; and,
WHEREAS, the TIF Commission has determined that this surplus shall be distributed to non-city taxing jurisdictions affected by the plan in accordance with Missouri state law; and,
WHEREAS, the TIF Commission recommends the execution of the attached First Amendment to the Cooperative Agreement among the City of Kansas City, Missouri, the Kansas City TIF Commission, and the County related to the disbursement of surplus funds to the taxing jurisdictions within the County; and,
WHEREAS, the Tax Incentive Unit recommends the approval of the First Amendment to the Cooperative Agreement to allow the second disbursement of funds; and,
WHEREAS, the County's expected share of the second disbursement will be $103,892.02, which will be credited to the General Fund; and,
WHEREAS, the attached First Amendment to the Universal Floodwater Detention TIF Plan Cooperative Agreement is a suitable mechanism by which to implement the mutual understanding of ...
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