§ 74-502 — Policy for use

Sec. 74-502. - Policy for use.

(a) All subsequent improvements to real property constructed in accordance with applicable City Codes and Ordinances, located within an enhanced enterprise zone and eligible for incentives under the enhanced enterprise zone program pursuant to section 135.950(9)(b), RSMo, as codified under section 74-453, shall become and remain exempt from assessment and payment of 50 percent of the ad valorem taxes of the city of Kansas City, Missouri for a period of ten years upon application and approval. The determination of whether a business is eligible shall be limited solely to chapter 135, as codified, and in no event will the determination of eligibility require a certification or receipt of tax credits under the Missouri Works Program. (b) Projects seeking longer and deeper tax abatement shall first be presented to the EEZ board for its hearing and recommendation to the city council, except the opportunity zone projects located in both an EEZ zone and an east side investment zone may be administratively approved by the executive director of the EEZ for up to 100 percent tax abatement for up to 20 years ("OZ administrative approval"). This authorization for OZ administrative approval shall expire July 18, 2021.

(Ord. No. 251058, § 6, 2-5-26)