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Legislation #: 170385 Introduction Date: 5/18/2017
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER WAGNER AND COUNCILMEMBER HALL
Title: Approving and designating the Vivion Point Redevelopment Project of the Vivion Point Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefor.

Legislation History
DateMinutesDescription
5/18/2017 Filed by the Clerk's office
5/18/2017 Referred to Planning, Zoning & Economic Development Committee
5/24/2017 Hold On Agenda (6/7/2017)
6/7/2017 Hold Off Agenda

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ORDINANCE NO. 170385

 

Approving and designating the Vivion Point Redevelopment Project of the Vivion Point Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefor.

 

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, the City Council accepted the recommendations of the Commission, in part, approved the Vivion Point Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a conservation area; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That 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.

 

Section 2. That the area selected for the Vivion Point Redevelopment Project legally described as follows:

 

A tract of land lying in the West Half of the Southwest quarter of Section 31, Township 51 North, Range 32 East, and also being portions of Lots 28 through 41 inclusive, Lots 43, 44, 45, 46, 52 and Lot 56 and portions of vacated streets and alley all in Beulmar Acres, a subdivision of land in Kansas City, Clay County, Missouri, all being more particularly described as follows:

 

Commencing at the Southwest corner of Lot 28 Beulmar Acres, according to the recorded plat thereof; thence North 00 degrees 32 minutes 54 seconds West, along the West line of said Lot 28, a distance of 45.00 feet; thence South 83 degrees 57 minutes 26 seconds East, a distance of 9.78 feet to a point at the East right-of-way line of Antioch Road as established in Book 902, at Page 613, and the point of beginning, thence North 02 degrees 17 minutes 34 seconds East, along said East right-of-way line, a distance of 60.13 feet; thence South 83 degrees 57 minutes 26 seconds East, a distance of 352.64 feet, thence North 03 degrees 20 minutes 27 seconds East, a distance of 489.20 feet to a point lying on the vacated centerline of Russell Avenue; thence North 50 degrees 14 minutes 39 seconds East along said vacated centerline a distance of 160.18 feet; thence North 31 degrees 23 minutes 05 seconds West, a distance of 227.27 feet to a point lying on the South right-of-way line of Vivion Road; thence North 49 degrees 52 minutes 30 seconds East along said South right-of-way line, a distance of 16.20 feet; thence along a curve to the right having a radius of 1382.69 feet, (a central angle of 17 degrees 19 minutes 27 seconds) a length of 418.07 feet; thence South 28 degrees 03 minutes 17 seconds East, a distance of 151.25 feet; thence North 61 degrees 56 minutes 43 seconds East, a distance of 34.00 feet; thence South 28 degrees 03 minutes 17 seconds East, a distance of 40.00 feet; thence North 61 degrees 56 minutes 43 seconds East, a distance of 71.00 feet; thence South 28 degrees 03 minutes 17 seconds East, a distance of 34.00 feet; thence North 61 degrees 56 minutes 43 seconds East, a distance of 84.93 feet to a point lying on the Westerly right-of-way line of Chouteau Trafficway as now established; thence along said Westerly right-of-way line, on a curve to the left having a radius of 640.00 feet (an initial Tangent Bearing of North 34 degrees 37 minutes 39 seconds West, a central angle of 17 degrees 24 minutes 48 seconds) a length of 194.51 feet; thence South 52 degrees 52 minutes 44 seconds East along said Westerly right-of-way line, a distance of 133.30 feet to a point lying on the East line of Lot 43, Beulmar Acres; thence South 00 degrees 13 minutes 27 seconds West along the East line of Lots 43, 44, 45, 46, a distance of 606.67 feet to the Southeast Corner of Lot 46, Beulmar Acres; thence North 89 degrees 16 minutes 04 seconds West along the South line of said Lot 46, a distance of 370.21 feet to a point lying on the Southeasterly line of Lot 33, Beulmar Acres; thence along a curve to the right having a radius of 230 feet (an initial Tangent Bearing of South 54 degrees 27 minutes 45 seconds West, a central angle of 04 degrees 25 minutes 42 seconds) a length of 21.74 feet; thence South 58 degrees 29 minutes 40 seconds West, a distance of 159.76 feet; thence along a curve to the left, tangent to the last described course, having a radius of 200.00 feet (a central angle of 21 degrees 54 minutes 05 seconds) a length of 76.45 feet; thence South 41 degrees 04 minutes 05 seconds West, a distance of 44.47 feet; thence North 83 degrees 57 minutes 26 seconds West a distance of 650.02 feet to the point of beginning, except that part thereof in Vivion Road.

 

is approved and designated by the Vivion Point Tax Increment Financing Plan as the Vivion Point Redevelopment Project Area.

 

Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for the Vivion Point Redevelopment Project. After the total equalized assessed valuation of the taxable real property in the Vivion Point Redevelopment Project exceeds the certified total initial equalized assessed valuation of the taxable real property in the Vivion Point Redevelopment Project, the ad valorem taxes, and payment in lieu of taxes, if any, arising from the levies upon the taxable real property in such project by taxing districts and tax rates determined in the manner provided in subsection 2 of Section 99.855 each year after the effective date of the ordinance until redevelopment project costs have been paid shall be divided as follows:

 

1. That portion of taxes levied upon each taxable lot, block, tract, or parcel of real property which is attributable to the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the area selected for the Vivion Point Redevelopment Project shall be allocated to and, when collected, shall be paid by the Clay County Collector and the City Treasurer to the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing;

 

2. Payments in lieu of taxes attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in the area selected for the Vivion Point Redevelopment Project over and above the initial equalized assessed value of each such unit of property in the area selected for the Vivion Point Redevelopment Project shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payments in lieu of taxes, which are necessary to the payment of the Vivion Point Redevelopment Project Area Costs within the Redevelopment Area, into a special fund called the "Special Allocation Fund" of the City for the purpose of paying Redevelopment Project Costs and obligations incurred in the payment thereof. Any payments in lieu of taxes which are not paid within sixty (60) days of the due date shall be deemed delinquent and shall be assessed a penalty of one percent (1%) per month.

 

Section 4. That in addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, fifty percent (50%) of the total additional revenue from taxes which are imposed by the City or taxing districts, and which are generated by economic activities within the area selected for the Vivion Point Redevelopment Project over the amount of such taxes generated by economic activities within such area in the calendar year prior to the passage of this ordinance, while tax increment financing remains in effect, but excluding certain taxes, fees and special assessments specifically identified by the Act, other than payments in lieu of taxes, shall be allocated to, and paid by the collecting officer to the City Treasurer or other designated financial officer of the City, who shall deposit such funds, which are necessary to the payment of Redevelopment Project Costs identified by the Redevelopment Plan, in a separate segregated account within the Special Allocation Fund for the purpose of paying Redevelopment Project Costs.

 

_____________________________________________

 

Approved as to form and legality:

 

 

___________________________________

Brian T. Rabineau

Assistant City Attorney