Title
An Ordinance approving the Second Amendment to the Second Amended and Restated Longview Farm Tax Increment Financing Plan, the First Amendment to the New Longview Tax Increment Financing Plan, and the First Amendment to the Tax increment Financing Contract between the City of Lee’s Summit and M-III Longview, LLC, to revise the amounts and priority of funding for improvements to Longview Lake and the Pergola.
(Note: First Reading by City Council on January 8, 2019. Passed by unanimous vote.)
Body
Issue/Request:
An Ordinance approving the Second Amendment to the Second Amended and Restated Longview Farm Tax Increment Financing Plan, the First Amendment to the New Longview Tax Increment Financing Plan, and the First Amendment to the Tax increment Financing Contract between the City of Lee’s Summit and M-III Longview, LLC, to revise the amounts and priority of funding for improvements to Longview Lake and the Pergola.
(Continued to the January 22, 2019 Council meeting per the applicant’s request.)
Key Issues:
Consideration of an ordinance to amend the Longview TIF Plans and TIF Contract to adjust TIF reimbursement to provide additional TIF funding for rehabilitation of Longview Lake and the Pergola, and unify this work into a single combined project. This request will not increase TIF reimbursement, but instead shift TIF reimbursement amounts and priorities.
Proposed City Council Motion:
I move for adoption of an Ordinance approving the Second Amendment to the Second Amended and Restated Longview Farm Tax Increment Financing Plan, the First Amendment to the New Longview Tax Increment Financing Plan, and the First Amendment to the Tax increment Financing Contract between the City of Lee’s Summit and M-III Longview, LLC, to revise the amounts and priority of funding for improvements to Longview Lake and the Pergola.
Background:
Developer has been working on engineering and design plans to complete the rehabilitation of Longview Lake and the Pergola which...
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