ORDINANCE NO. 100476

Accepting the recommendations of the Tax Increment Financing Commission as to the Third Amended Universal Floodwater Detention Tax Increment Financing Plan; approving the Third Amended Universal Floodwater Detention Tax Increment Financing Plan; designating an expanded redevelopment area and authorizing additional projects.

WHEREAS, the City Council of Kansas City, Missouri, by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, the Commission endorsed a proposed redevelopment plan entitled the "Universal Floodwater Detention Tax Increment Financing Plan" (the "Redevelopment Plan"); and

WHEREAS, on February 8, 1989, the Commission adopted its resolution approving a plan entitled "Universal Flood Protection Tax Increment Financing Plan" (the "1989 Redevelopment Plan"), calling for redevelopment of an area generally bordered by Reynolds Avenue on the west, the south bank of the Missouri River levee on the north, Interstate 435 on the east and Executive Drive on the south, as described in the 1989 Redevelopment Plan and recommending to the City Council that the City Council approve the 1989 Redevelopment Plan; and

WHEREAS, on May 11, 1989, the City Council passed Ordinance No. 63830, wherein the City Council approved the 1989 Redevelopment Plan, designated the area described therein as a redevelopment project area and adopted tax increment financing; and

WHEREAS, on November 14, 1990, the Commission determined that the redevelopment projects described in the 1989 Redevelopment Plan were not feasible at that time and adopted a resolution rescinding the 1989 Redevelopment Plan and the designation of the area described therein as a redevelopment project area and recommending that the City Council rescind the 1989 Redevelopment Plan and the designation of the area described therein as a redevelopment project area and repeal Ordinance No. 63830; and

WHEREAS, the Commission endorsed a revised redevelopment plan entitled "Universal Floodwater Detention Tax Increment Financing Plan" (the "1990 Redevelopment Plan"), calling for redevelopment of an area bordered by Reynolds Avenue on the west, the south bank of the Missouri River on the north, Interstate 435 on the east and Front Street on the south, (the "Redevelopment Plan Area") and consisting of several redevelopment projects located in separate redevelopment project areas (the "Redevelopment Project Areas") known as Phase I Redevelopment Project Area, Phase II Redevelopment Project Area, and so forth; and

WHEREAS, after all proper notice was given, the Commission met in public hearing on November 14, 1990, and received the comments of all interested parties and taxing districts affected by the 1990 Redevelopment Plan; and

WHEREAS, after due deliberation, the Commission adopted its resolution recommending to the City Council that the 1990 Redevelopment Plan be adopted and the City Council declare its intent to adopt tax increment financing at such time as requested by the Commission to finance and reimburse the payment of redevelopment project costs and redevelopment costs incurred in connection with the Redevelopment Plan; and

WHEREAS, after due deliberation, the Commission adopted its resolution recommending to the City Council that Universal Land Development Co., Ltd., be selected as the private developer to redevelop and rehabilitate the Redevelopment Area in accordance with the Redevelopment Plan; and

WHEREAS, on January 10, 1991, which was 14_90 days from the date of the Commission's hearing, ordinances calling for the approval of the Redevelopment Plan and designation of all of the individual phases of the Redevelopment Plan as redevelopment project areas (the "Redevelopment Project Areas") and the adoption of tax increment financing therein were introduced in the City Council; and

WHEREAS, on April 18, 1991, the City Council adopted Committee Substitute for Ordinance No. 910047, as amended, which repealed Ordinance No. 63830; which accepted the recommendations of the Commission as to the 1990 Redevelopment Plan; approved the Redevelopment Plan; designated the Redevelopment Area and each proposed Redevelopment Project Area as blighted; approved Universal Land Development Co., Ltd. as the developer; approved an agreement with the Commission; authorized the execution of a development contract; and approved and designated Phase I of the Redevelopment Plan as a Project Area and adopted Tax Increment Financing therefor; and

WHEREAS, the Redevelopment Plan as approved by Committee Substitute for Ordinance No. 910047, as amended, contemplates the designation of each phase of the Redevelopment Plan as a separate Redevelopment Project Area at the discretion of the City Council and the adoption of Tax Increment Financing therein; and

WHEREAS, on September 11, 1991, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts affected by an amendment to the Redevelopment Plan, adopted its resolution recommending to the City Council the approval of an amended Redevelopment Plan (the "First Amended Redevelopment Plan") affecting the area described in Exhibit "1" of the First Amended Redevelopment Plan as attached to Committee Substitute for Ordinance No. 911507 as Exhibit "A" (the "Redevelopment Area"); and

WHEREAS, the First Amended Redevelopment Plan which the Commission recommended be approved contained the proposal of Universal Land Development Co., Ltd was approved on December 19, 1991, by Committee Substitute for Ordinance No. 911507; and

WHEREAS, on May 17, 2000, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts affected by an amendment to the Redevelopment Plan, adopted its resolution recommending to the City Council the approval of an amended Redevelopment Plan (the "Second Amended Redevelopment Plan") providing for the addition of 2 projects as attached to Ordinance No. 000777 (the "Redevelopment Area"); and

WHEREAS, the Second Amended Redevelopment Plan which the Commission recommended the addition of 2 projects was approved on July 20, 2000, by Ordinance No. 000777; and

WHEREAS, the Third Amended Redevelopment Plan, provides for modifications (a) to the legal description of the Redevelopment Area, (b) to the description of the storm water improvements described by the Universal TIF Plan, (c) to the Budget of Redevelopment Project Costs incorporated within the Universal TIF Plan, (d) to the Development Schedule incorporated within the Universal TIF Plan, (e) to the Sources and Uses contemplated by the Universal TIF Plan, and (f) to the projects Payments in Lieu of Taxes and Economic Activity Taxes set forth in the Universal TIF Plan; and

WHEREAS, on May 12, 20100, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts affected by the third amendment to the Redevelopment Plan, adopted its resolution recommending to the City Council the approval of an amended Redevelopment Plan (the "Third Amended Redevelopment Plan") affecting the area described in the Third Amended Redevelopment Plan (the " Redevelopment Area"); NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendation of the Commission concerning the Third Amended Redevelopment Plan as set forth in the resolution attached hereto as Exhibit "A" is hereby accepted, and the Third Amended Redevelopment Plan attached hereto as Exhibit “B” is hereby approved and the Projects contained therein are being authorized.

Section 2. All terms used in this ordinance shall be construed as defined in Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act").

Section 3. The City Council hereby finds that:

(a) The Redevelopment Area as a whole and each Redevelopment Project Area are blighted as evidenced by the flooding problems, deterioration and underutilization of buildings and other blighting influences.

(b) The areas selected for Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefitted by the Redevelopment Project Improvements.

(c) The Redevelopment Area as a whole and each Redevelopment Project Area have not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the Third Amended Redevelopment Plan.

(d) The Third Amended Redevelopment Plan as a whole and each Redevelopment Project conform to the comprehensive plan for the development of the City as a whole.

(e) The estimated dates of completion of the Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs have been stated in the Second Amended Redevelopment Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area.

(f) The Third Amended Redevelopment Plan includes a plan for relocation assistance for businesses and residences.

(g) A cost-benefit analysis showing the impact of the Third Amended Redevelopment Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act.

(h) The Third Amended Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

(i) A blight study has been completed and the findings of such study satisfy the requirements provided under subdivision (1) of Section 99.805, RSMo.

Section 3. The Third Amended Redevelopment Plan, a copy of which is attached hereto as Exhibit "A", is hereby approved and the projects sets forth therein are hereby authorized.

Section 4. The Redevelopment Area legally described in the Third Amended Redevelopment Plan is hereby approved and designated a redevelopment area as provided in Section 99.820.1(l), RSMo:

All that part of Section 24 and Section 25, Township 50, Range 33, in the City of Kansas City, Jackson County, Missouri, described as follows: Beginning at the Northeast corner of EXECUTIVE PARK, TWENTY-FIRST PLAT, a subdivision of land in said city, county and state, said point being on the North right of way line of Commerce Avenue; thence North 8744 seconds 03 minutes West, along the North right of way of said Commerce Avenue, a distance of 421.25 feet to a point of curvature; thence along a curve to the right, the previous course being tangent thereto, radius of said curve being 13.00 feet, with a central angle of 9025 seconds 44 minutes, an arc distance of 20.52 feet, to a point on the Easterly right of way line of Universal Avenue, as now established; thence North 241 seconds 41 minutes East (the following courses being along said Universal Avenue right of way), a distance of 1029.78 feet; thence North 215 seconds 57 minutes East, a distance of 73.55 feet, to a point of curvature; thence along a curve to the right, the previous course being tangent thereto, radius of said curve being 609.00 feet, with a central angle of 2300 seconds 00 minutes, an arc distance of 244.47 feet; thence North 2515 seconds 57 minutes East, a distance of 68.03 feet, to a point of curvature; thence along a curve to the right, the previous course being tangent thereto, radius of said curve being 50.00 feet, with a central angle of 9000 seconds 00 minutes, an arc distance of 78.54 feet, to a point on the Southerly right of way line of Universal Plaza Drive, (now Corporate Drive), as established by Executive Park, Fifth Plat; thence South 6444 seconds 03 minutes East, (the following courses being along said Southerly right of way of Corporate Drive), a distance of 269.00 feet, to a point of curvature; thence along a curve to the left, the previous course being tangent thereto, radius of said curve being 330.00 feet, with a central angle of 5515 seconds 00 minutes, an arc distance of 318.22 feet; thence North 6000 seconds 57 minutes East, a distance of 77.00 feet, to a point of curvature; thence along a curve to the right, the previous course being tangent thereto, radius of said curve being 280.00 feet, with a central angle of 6200 seconds 00 minutes, an arc distance of 302.99 feet; thence South 5759 seconds 03 minutes East, a distance of 40.24 feet; thence North 3200 seconds 57 minutes East, departing the southerly right of way line of said Corporate Drive, a distance of 206.12 feet; thence North 1421 seconds 17 minutes West, a distance of 169.29 feet; thence North 2259 seconds 24 minutes West, a distance of 75.00 feet to a point on the Westerly line of Tract “A” of said Executive Park, Fifth Plat, said point being on a curve; (the following courses being along the Westerly line of said Tract “A”); thence along a curve to the left, the initial tangent to which bears North 6700 seconds 36 minutes East, radius of said curve being 280.00 feet, with a central angle of 3944 seconds 45 minutes, an arc distance of 194.23 feet, to a point of reverse curvature; thence along a curve to the right, the initial tangent to which bears North 2715 seconds 57 minutes East, radius of said curve being 270.00 feet, with a central angle of 3600 seconds 00 minutes, an arc distance of 169.65 feet, to a point of reverse curvature; thence along a curve to the left, the initial tangent to which bears North 6315 seconds 57 minutes East, radius of said curve being 205.00 feet, with a central angle of 4518 seconds 58 minutes, an arc distance of 162.13 feet, thence south 7202 seconds 58 minutes east, along the Northerly line of said Tract “A”, a distance of 75.00 feet; thence South 8835 seconds 23 minutes East, continuing along said Northerly line, a distance of 15.55 feet; thence South 124 seconds 37 minutes West, a distance of 107.00 feet; thence South 8835 seconds 23 minutes East, a distance of 132.50 feet; thence North 5539 seconds 23 minutes East, a distance of 30.8 feet; thence South 8835 seconds 23 minutes East, a distance of 18.00 feet; thence North 124 seconds 37 minutes East, a distance of 68.00 feet; thence North 8835 seconds 23 minutes west, a distance of 18.00 feet; thence North 124 seconds 37 minutes East, a distance of 18.00 feet; thence North 8835 seconds 23 minutes West, a distance of 126.00 feet; thence South 124 seconds 37 minutes West, a distance of 18.00 feet; thence North 8835 seconds 23 minutes West, a distance of 6.50 feet; thence North 124 seconds 37 minutes East, a distance of 21.00 feet, to a point on the Northerly line of said Tract “A”; thence South 8835 seconds 23 minutes East, a distance of 168.50 feet, to a point of curvature; said point being on the Westerly right of way line of aforementioned Corporate Drive; thence along a curve to the right, the initial tangent to which bears North 1626 seconds 32 minutes East, radius of said curve being 231.38 feet, with a central angle of 1451 seconds 16 minutes, an arc distance of 60.00 feet, to a point of reverse curvature; thence along a curve to the left, the initial tangent to which bears North 3117 seconds 48 minutes East, radius of said curve being 170.00 feet, with a central angle of 2953 seconds 11 minutes, an arc distance of 88.67 feet; thence North 124 seconds 37 minutes East, a distance of 226.00 feet; to a point on the Westerly right of way line of Executive Drive, as established by Executive Park, Sixth Plat; thence along a curve to the left (the following courses being the Westerly and Southerly right of way line of Executive Drive), the previous course being tangent thereto, radius of said curve being 170.00 feet, with a central angle of 7000 seconds 00 minutes, an arc distance of 207.69 feet; thence North 6835 seconds 23 minutes West, a distance of 152.79 feet, to a point of curvature, thence along a curve to the right, the previous course being tangent thereto, radius of said curve being 230.00 feet, with a central angle of 5051 seconds 20 minutes, an arc distance of 204.14 feet; thence North 1744 seconds 03 minutes West, a distance of 126.51 feet, to a point of curvature; thence along a curve to the left, the previous course being tangent thereto, radius of said curve being 170.00 feet, with a central angle of 7000 seconds 00 minutes, an arc distance of 207.69 feet, thence North 8744.03 minutes West, along the North line of said Tract “A” of said Sixth Plat and the North line of Tract “A”, EXECUTIVE PARK, THIRTEENTH PLAT, said North line being the Southerly right of way line of Executive Drive as established by said plats, a distance of 1140.72 feet; thence North 215 seconds 57 minutes East a distance of 60.00 feet to a point of curvature; thence along a curve to the right, the tangent to which bears North 8744 seconds 03 minutes West, radius of said curve being 22.00 feet, with a central angle of 9000 seconds 00 minutes, an arc distance of 34.56 feet; thence North 8744 seconds 03 minutes West, a distance of 150.00 feet, thence South 215 seconds 57 minutes West, along the Westerly right of way line of Universal Avenue, as established by Executive Park, Thirteenth Plat, a distance of 395.90 feet to a point of curvature; thence along a curve to the left, along said right of way line, the previous course being tangent thereto, radius of said curve being 730.83 feet, with a central angle of 240 seconds 05 minutes, an arc distance of 34.03 feet; thence North 8744 seconds 32 minutes West, along the North line of Lots C and B, said EXECUTIVE PARK, TWENTY-FIFTH PLAT, a distance of 575.54 feet, to the right of way line of the Deramus Avenue cul-de-sac, as now established; thence Northwesterly, Westerly and Southwesterly, along said right of way line, along a curve to the left, the initial tangent to which bears North 257 seconds 29 minutes West, radius of said curve being 55.00 feet, with a central angle of 14143 seconds 42 minutes and arc distance of 136.05 feet to a point on the North right of way line of said Deramus Avenue; thence North 8744 seconds 32 minutes West, along the North right of way line of said Deramus Avenue, a distance of 126.50 feet; thence Westerly and Northerly, along a curve to the right, radius of said curve being 12.00 feet, with a central angle of 9000 seconds 29 minutes and arc distance of 18.85 feet to the East right of way line of Reynolds Avenue, as established by Executive Park, Twentieth Plat; thence North 215 seconds 57 minutes East along the East right of way line of said Reynolds Avenue, a distance of 1523.13 feet, to a point of curvature; thence along a curve to the right, the previous course being tangent thereto, radius of said curve being 12.00 feet, with a central angle of 9000 seconds 00 minutes, an arc distance of 18.85 feet, to a point on the South right of way line of Stilwell Street, as established by Executive Park, Twenty-Third Plat; thence South 8744 seconds 03 minutes East, along said South right of way line, a distance of 522.05 feet; thence North 215 seconds 57 minutes East, along the East line of Tract “B” and its extension of said Executive Park, Twenty-Third Plat, a distance of 956.77 feet, to a point on the South right of way of the Missouri River Levee right of way, as now established; thence North 8602 seconds 43 minutes East, along said Levee right of way, a distance of 108.10 feet; thence North 8443 seconds 02 minutes East, continuing along said Levee right of way, a distance of 295.44 feet, to a point of curvature; thence along a curve to the right, along said Levee right of way, the initial tangent to which bears North 8828 seconds 10 minutes East, radius of said curve being 5941.22 feet, with a central angle of 032 seconds 18 minutes, an arc distance of 55.82 feet, to a point on an existing Railroad right of way line, recorded as Document No. K-500318 in Book K-1101 at Page 1076; thence South 215 seconds 57 minutes West, along said right of way line, a distance of 35.00 feet; thence South 8744 seconds 03 minutes East, along said right of way line, a distance of 30.00 feet; thence South 6658 seconds 53 minutes East, along said right of way line, a distance of 110.00 feet, to a point of curvature; thence along a curve to the right, along said right of way line, the initial tangent to which bears South 8944 seconds 12 minutes East, radius of said curve being 5861.22 feet, with a central angle of 1112 seconds 51 minutes, an arc distance of 1147.17 feet, to a point of curvature; thence along a curve to the right, along said right of way line, the initial tangent to which bears South 8937 seconds 50 minutes East, radius of said curve being 2877.87 feet, with a central angle of 444 seconds 58 minutes, an arc distance of 238.55 feet, to a point of curvature; thence along a curve to the right, along said right of way line, the initial tangent to which bears South 8452 seconds 52 minutes East, radius of said curve being 1025.00 feet, with a central angle of 1027 seconds 11 minutes, an arc distance of 187.00 feet, to a point of curvature; thence along a curve to the right, along said right of way line, the initial tangent to which bears South 7425 seconds 41 minutes East, radius of said curve being 5916.22 feet, with a central angle of 039 seconds 27 minutes, an arc distance of 67.88 feet, to a point on the West right of way line of Interstate Highway No. 435, as now established; thence South 124 seconds 37 minutes West, along the West right of way line of said Interstate Highway No. 435, a distance of 2759.75 feet; thence North 8835 seconds 23 minutes West, a distance of 5.41 feet to a point of curvature, said point being on the Easterly right of way line of aforementioned Corporate Drive; thence along a curve to the right, the initial tangent to which bears South 124 seconds 37 minutes West, radius of said curve being 230.00 feet, with a central angle of 2953 seconds 11 minutes, an arc distance of 119.97 feet to a point of reverse curvature; thence along a curve to the left, the initial tangent to which bears South 3117 seconds 48 minutes West, radius of said curve being 171.38 feet, with a central angle of 5946 seconds 22 minutes, an arc distance of 178.79 feet to a point of reverse curvature; thence along a curve to the right, the initial tangent to which bears South 2828 seconds 34 minutes East, radius of said curve being 230.00 feet, with a central angle of 2953 seconds 11 minutes, an arc distance of 119.97 feet; thence South 8835 seconds 23 minutes East, a distance of 5.41 feet to a point on the Westerly right of way line of aforementioned Interstate Highway No. 435; thence South 124 seconds 37 minutes West, a distance of 944.00 feet; thence South 802 seconds 46 minutes West, along said West right of way, a distance of 797.04 feet; thence South 015 seconds 39 minutes West, continuing along said West right of way line, a distance of 485.30 feet; thence South 2716 seconds 34 minutes West, continuing along said West right of way, a distance of 133.04 feet, to a point on the North right of way of Front Street, as now established; thence North 8742 seconds 53 minutes West, along said North right of way, a distance of 252.06 feet, to the Southeast corner of Executive Park, Thirty-Fourth Plat, thence North 215 seconds 57 minutes East, along the East line of said Executive Park, Thirty-Fourth Plat, a distance of 210.00 feet, to the Northeast corner thereof; thence North 8742 seconds 53 minutes West, along the North line of said Executive Park, Thirty-Fourth Plat, a distance of 260.00 feet, to the Northwest corner thereof; thence South 215 seconds 57 minutes West, along the West line of said Executive Park, Thirty-Fourth Plat, a distance of 210.00 feet, to the Southwest corner thereof, said point being on the North right of way of said Front Street thence North 8742 seconds 53 minutes West, along said North right of way, a distance of 570.71 feet; thence North 8743 seconds 23 minutes West, continuing along said North right of way line, a distance of 230.79 feet; thence North 215 seconds 57 minutes East, along the extension of and the East line of aforementioned Tract “B” of Executive Park, Twenty-First Plat, a distance of 437.25 feet to the Point of Beginning, containing 9,479,440.64 square feet or 217.62 acres, more or less.

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the Universal Floodwater Detention TIF Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area and, subject to any constitutional limitations, to acquire by purchase, donation, lease or eminent domain, own, convey, lease, mortgage, or dispose of land or other property, real or personal, or rights or interests therein, and grant or acquire licenses, easements and options with respect thereto, all in the manner and at such price the Commission determines, to enter into such contracts and take all such further actions as are reasonably necessary to achieve the objectives of the Redevelopment Plan pursuant to the power delegated to it in Ordinance No. 54556. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 to 99.865, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.

Section 6. Pursuant to the provisions of the Third Amended Redevelopment Plan, the City Council approves the pledge and authorizes the Commission to pledge all funds generated from the Redevelopment Plan, which are deposited into the Universal Floodwater Detention Account and the Universal Floodwater Detention Economic Activity Account of the Special Allocation Fund to the payment of Redevelopment Project Costs and Redevelopment Costs within the Redevelopment Area and each of the Redevelopment Project Areas.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney