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Legislation #: 050261 Introduction Date: 3/3/2005
Type: Ordinance Effective Date: 12/19/2010
Sponsor: None
Title: Approving and designating Redevelopment Project 4 of the Blue Ridge Mall Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor. .

Legislation History
DateMinutesDescription
3/2/2005 Filed by the Clerk's office
3/3/2005 Referred to Planning and Zoning Committee
3/9/2005 Hold Off Agenda
7/18/2007 Hold Off Agenda
7/16/2008 Hold Off Agenda
12/8/2010 Advance and Do Pass as a Committee Substitute, Debate
12/9/2010 Passed as Substituted

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050261.pdf Authenticated 164K AUTHENTICATED
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Blue Ridge Mall Project 4 Ordinance (00045506).DOC Fact Sheet 26K fact sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 050261

 

Approving and designating Redevelopment Project 4 of the Blue Ridge Mall Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor. .

  WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556, passed on November 24, 1982 and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on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, on February 24, 2005, the City Council passed Ordinance No. 041238, which accepted the recommendations of the Commission as to the Blue Ridge Mall Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a blighted area; and 

 

WHEREAS, the Redevelopment Plan and ordinance contemplate the implementation of the Redevelopment Plan through 6 Redevelopment Projects described in the Redevelopment Plan and the adoption of tax increment financing in the areas selected for such Redevelopment Projects; NOW, THEREFORE, 

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY: 

 

Section 1. 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. Redevelopment Project 4 is hereby approved, and the area selected for the Redevelopment Project legally described as follows:

 

A portion of Lot 1, STERLING SQUARE, a subdivision of land in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, being more particularly described as follows:

 

Beginning at the Northwest corner of said Lot 1, said point being 50 feet East of the West line the Southwest Quarter of the Southeast Quarter of Section 21, Township 49 North, Range 32 West, as measured perpendicular to the West line of said Quarter, Quarter Section, being also a point on the Southerly right-of way line of U.S. Interstate Highway Route No. 70 as now established 200 feet South of the survey centerline thereof, at Station 439+25.66; thence South 87 degrees 01 minutes 45 seconds East (South 87 degrees 01 minutes 52 seconds East, Plat), along the Northerly line of said Lot 1, being also along a line 200 feet South of and parallel with the survey centerline of said Route No. 70 and along said Southerly right-of-way line, a distance of 433.77 feet, more or less, to an angle point in the Northerly line of said Lot 1, being also an angle point in said Southerly right-of-way line, said point being 200 feet South of said survey centerline at Station 443+59.43; thence South 54 degrees 53 minutes 29 seconds East (South 54 degrees 53 minutes 36 seconds East, Plat), continuing along the Northerly line of said Lot 1 and along the Southerly right-of-way line of said Route No. 70, a distance of 14.76 feet; thence South 02 degrees 43 minutes 38 seconds West, no longer along said Northerly line or said Southerly right-of-way line, a distance of 390.34 feet; thence North 87 degrees 16 minutes 22 seconds West, perpendicular to the last described course, a distance of 433.62 feet, more or less, to a point on the Westerly line of said Lot 1, being also a point on the Easterly right-of-way line of Northern Avenue, as now established; thence Northwesterly along a curve to the left, along the Westerly line of said Lot 1 and along the Easterly right-of-way line of said Northern Avenue, having an initial tangent bearing of North 24 degrees 13 minutes 11 seconds West, a radius of 395 feet and a central angle of 06 degrees 36 minutes 14 seconds, an arc length of 45.53 feet, more or less, to an angle point in the Westerly line of said Lot 1, said point being 35 feet East of the West line the Southwest Quarter of the Southeast Quarter of said Section 21, as measured perpendicular to the West line thereof; thence North 01 degree 58 minutes 58 seconds East (North 01 degree 58 minutes 51 seconds East, Plat), not tangent to the last described curve, along the Westerly line of said Lot 1, being also along a line 35 feet East of and parallel with the West line of said Quarter, Quarter Section and no longer along said Easterly right-of-way line, a distance of 209.76 feet (210.30 feet, Plat), more or less, to an angle point in the Westerly line of said Lot 1; thence North 11 degree 47 minutes 49 seconds East (North 11 degree 47 minutes 42 seconds East, Plat), along the Westerly line of said Lot 1, a distance of 88 feet, more or less, to an angle point in the Westerly line of said Lot 1, said point being 50 feet East of the West line of said Quarter, Quarter Section, as measured perpendicular to the West line thereof; thence North 01 degree 58 minutes 58 seconds East (North 01 degree 58 minutes 51 seconds East, Plat), along the Westerly line of said Lot 1, being also along a line 50 feet East of and parallel with the West line of said Quarter, Quarter Section, a distance of 64.14 feet, more or less, to the Point of Beginning. Containing 180,945 square feet or 4.154 acres, more or less.

 

is approved and designated as the Blue Ridge Mall Tax Increment Financing Plan Redevelopment Project 4 (the “Redevelopment Project Area”). 

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the Redevelopment Project Area 4. After the total equalized assessed valuation of the taxable real property in Redevelopment Project Area 4 exceeds the certified total initial equalized assessed valuation of the taxable real property in Redevelopment Project Area 4, the ad valorem taxes, and payment in lieu of taxes, if any, arising from the levies upon the taxable real property in such Redevelopment Project Area 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 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 Redevelopment Project Area shall be allocated to and, when collected, shall be paid by the Jackson 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 Redevelopment Project Area over and above the initial equalized assessed value of each such unit of property in the Redevelopment Project Area shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payment in lieu of taxes 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. 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 Project 4 over the amount of such taxes generated by economic activities within such area in the calendar year prior to the adoption of this ordinance, while tax increment financing remains in effect, in accordance with Section 99.845, RSMo, 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 in a separate segregated account within the Special Allocation Fund. 

 

_____________________________________________

 

Approved as to form and legality: 

 

 

______________________________

Heather A. Brown

Assistant City Attorney