ORDINANCE NO. 121006
Accepting the recommendations of
the Tax Increment Financing Commission of Kansas City as to the First Amendment
to the Antioch Crossing Tax Increment Financing Plan; and approving, as
modified, the First Amendment to the Antioch Crossing Tax Increment Financing
WHEREAS, the City
Council, by Ordinance No. 120083, accepted the recommendations of the Tax
Increment Financing Commission of Kansas City, Missouri (“Commission”),
approved the Antioch Crossing Tax Increment Financing Plan (“Plan”) and designated
a Redevelopment Area; and
WHEREAS, a first
amendment to the Plan (“First Amendment”) was proposed to the Commission and
the Commission, having been duly constituted and its members appointed, after
proper notice was given, met in public hearing, and after receiving the
comments of all interested persons and taxing districts, closed the public
First Amendment provides an increase in the budget of Redevelopment Project
Costs related to financing and interest costs and was approved by the
Commission on September 12, 2012, by adoption of Resolution No. 9-05-12; NOW,
BE IT ORDAINED BY THE COUNCIL OF
Section 1. That
the recommendations of the Commission concerning the First Amendment to the
Antioch Crossing Tax Increment Financing Plan as set forth in the Resolution
attached hereto as Exhibit A are hereby accepted and the First Amendment, a
copy of which is attached hereto as Exhibit B, as amended,
is hereby approved and adopted as valid.
Section 2. That
all terms used in this ordinance, not otherwise defined herein, shall be
construed as defined in the Real Property Tax Increment Allocation
Redevelopment Act, Sections 99.800 to 99.865, RSMo (“Act”).
Section 3. That
the City Council hereby finds that good cause has been shown for the amendment
of the Plan and that the findings of the Council in Ordinance No. 120083 are
not affected by the First Amendment and apply equally to the First Amendment.
Section 4. That
the First Amendment does not alter the previous findings of the City Council as
a. The Redevelopment Area as a whole is an economic development
area, as defined in Section 99.805(5) of the Act, 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. The lack of sufficient street improvements, interchanges,
and other infrastructure has inhibited the development of the Redevelopment
b. The Plan conforms to the comprehensive plan for the
development of the City as a whole.
c. The areas selected for Redevelopment Projects include only
those parcels of real property and improvements thereon which will be directly
and substantially benefited by the Redevelopment Project Improvements.
d. The estimated dates of completion of the Redevelopment
Projects and retirement of obligations incurred to finance Redevelopment
Project Costs have been stated in the First Amendment and are not more than 23
years from the passage of any ordinance approving a Redevelopment Project
within the Redevelopment Area.
e. The Plan includes a plan for relocation assistance for
businesses and residences.
f. A cost-benefit analysis showing the impact of the 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.
g. The Plan does not include the initial development or
redevelopment of any gambling establishment.
h. A study has been completed and the findings of such study
satisfy the requirements provided under Section 99.810, RSMo.
Section 5. That
the Commission is authorized to issue obligations in one or more series of
bonds secured by the Antioch Crossing Tax Financing Plan 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. Any obligations issued to finance
Redevelopment Project Costs shall contain a recital that they are issued
pursuant to Sections 99.800 to 99.865 of the Act, which recital shall be
conclusive evidence of their validity and of the regularity of their issuance.
Section 6. That
the City Council approves the pledge of all funds that are deposited into the
Antioch Crossing Tax Increment Financing Plan Account of the Special Allocation
Fund to the payment of Redevelopment Project Costs within the Redevelopment
Area and authorizes the Commission to pledge such funds on its behalf.
as to form and legality: