KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 160670 Introduction Date: 9/1/2016
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Eighth Amendment to the North Oak Tax Increment Financing Plan; and approving the Eighth Amendment to the North Oak Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
8/31/2016 Filed by the Clerk's office
9/1/2016 Referred to Planning, Zoning & Economic Development Committee
9/7/2016 Advance and Do Pass, Debate
9/8/2016 Passed

View Attachments
FileTypeSizeDescription
160670.pdf Authenticated 169K Authenticated
160670 8th Amendment.pdf Plan 4792K 8th Amendment
160670 Fact Sheet.pdf Fact Sheet 254K Fact Sheet
North Oak TIF - 8th Amendment ordinance (00188868xA7821).docx Other 23K Ordinance

Printer Friendly Version

ORDINANCE NO. 160670

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Eighth Amendment to the North Oak Tax Increment Financing Plan; and approving the Eighth Amendment to the North Oak Tax Increment Financing Plan.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”), the City Council of Kansas City, Missouri created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, on February 24, 2005, the City Council passed Committee Substitute for Ordinance No. 050104, which accepted the recommendations of the Commission as to the North Oak Tax Increment Financing Plan (the “Redevelopment Plan”) and designated the Redevelopment Area therein to be a blighted area; and

 

WHEREAS, the City Council previously amended the Redevelopment Plan six times; and

 

WHEREAS, an eighth amendment to the Redevelopment Plan, entitled the Eighth Amendment to the North Oak Tax Increment Financing Plan (the “Eighth Amendment”), was proposed to the Commission; and 

 

WHEREAS, said Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts, closed said public hearing on August 15, 2016, and adopted a resolution (the “Resolution”) recommending that the City Council approve the Eighth Amendment; and

 

WHEREAS, the Eighth Amendment provides for the expansion of the boundaries of the Plan, the addition of public improvements, modifications to the Budget of Redevelopment Project Costs, expresses an intent to support walkable and safe areas, creation of a Neighborhood Improvement and Grant Program, and acquisition and rehabilitation of a recreational facility; NOW, THEREFORE, 

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the recommendations of the Commission concerning the Eighth Amendment to the North Oak Tax Increment Financing Plan are hereby accepted and the Eighth Amendment is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized. 

 

Section 2. That all terms used in this ordinance, not otherwise defined herein, shall be construed as defined in the Act.

 

Section 3. That the Council hereby finds that:

 

(a) Good cause has been shown for amendment of the Redevelopment Plan, and that all previous findings of the City Council with respect to the Redevelopment Plan, as amended, are not affected by the Eighth Amendment and apply equally to the Eighth Amendment;

 

(b) The Redevelopment Area, as amended, is a conservation area, as a whole, and has 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 Redevelopment Plan, as amended, and the Eighth Amendment;

 

(c) The Redevelopment Plan includes a detailed description of benefactors that qualify the Redevelopment Area as a conservation area and an affidavit as required by Section 99.810.1(1), RSMo;

 

(d) The Redevelopment Plan, as amended, conforms to the comprehensive plan for the development of the City as a whole;

 

(e) The areas selected for Redevelopment Projects include only those parcels of real property and improvements therein which will be directly and substantially benefited by the Redevelopment Project improvements;

 

(f) The estimated dates of completion of the respective Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs, have been stated in the Redevelopment Plan, as amended, and are not more than 23 years from the passage of any ordinance approving a Redevelopment Project within the Redevelopment Area, as amended;

 

(g) A plan has been developed for relocation assistance for businesses and residences;

 

(h) A cost benefit analysis showing the impact of the Eighth Amendment on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act;

 

(i)   The Eighth Amendment does not include the initial development or redevelopment of any gambling establishment; and

 

(j) A study has been completed and the findings of such study satisfy the requirements provided under Section 99.810.1, RSMo.

 

Section 4. That the Commission is authorized to issue obligations in one or more series of bonds secured by the North Oak Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area, as amended, 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 undertake all such further actions as are reasonably necessary to achieve the objectives of the Redevelopment Plan, as amended, pursuant to the power delegated to it. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 through 99.865, RSMo, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.

 

Section 5. That pursuant to the provisions of the Redevelopment Plan, as amended, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the North Oak Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Redevelopment Area, as amended, and authorizes the Commission to pledge such funds on its behalf.

  

____________________________________________________

 

Approved as to form and legality:

 

 

__________________________________

Brian T. Rabineau

Assistant City Attorney