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AN ORDINANCE OF THE CITY OF MCPHERSON, KANSAS (THE "CITY"), REAUTHORIZING AND EXTENDING A PROGRAM FOR CASH PAYMENTS AND REBATES TO HOMEOWNERS OF THE CITY PORTION OF AD VALOREM PROPERTY TAXES PAID ON QUALIFYING NEW HOMES FOR A PERIOD OF UP TO THREE YEARS, SUBJECT TO CERTAIN LIMITATIONS, CONDITIONS AND RESTRICTIONS; AUTHORIZING STAFF TO PREPARE APPROPRIATE APPLICATION FORMS AND AGREEMENTS TO BE EXECUTED BETWEEN THE CITY AND HOMEOWNERS PARTICIPATING IN THE PROGRAM; AND, AUTHORIZING THE CITY ADMINISTRATOR TO EXECUTE SUCH AGREEMENTS ON BEHALF OF THE CITY.
WHEREAS, Article 12, Section 5 of the Kansas Constitution empowers cities to determine their local affairs and government; and
WHEREAS, the Governing Body of the City of McPherson, Kansas (the "City"), in furtherance of its objectives to build stronger communities, create jobs and provide a more stable tax base, desires to stimulate new home construction and home ownership within the City's corporate limits; and
WHEREAS, as a means of stimulating new home construction and home ownership, the Governing Body of the City finds it necessary and desirable to establish a rebate program to be known as the New Construction Homebuyer Incentive Program, which will provide a rebate of the City portion of real property taxes on eligible properties for a period of up to four (4) years, subject to certain limitations, conditions and restrictions; and
WHEREAS, the Governing Body has concluded that the New Construction Homebuyer Incentive Program, established in May, 2013 (Ordinance No. 3093), extended in 2015 (Ordinance No. 3157), extended in 2016 (Ordinance No. 3191) for two (2) years, then extended again for three (3) years in 2017 (Ordinance No. 3259), has been successful in bringing new owner occupied residential construction to the City and wish to extend the current program, as previously adopted, for an additional three years.