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Legislation #: 001583 Introduction Date: 11/30/2000
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Project 13 of the 22nd and Main Tax Increment Financing Redevelopment Plan as a Redevelopment Project and adopting tax increment financing therein.

Legislation History
DateMinutesDescription
11/30/2000

Prepare to Introduce

11/30/2000

Referred Planning, Zoning & Economic Development Committee

12/13/2000

Hold Off Agenda

1/9/2002

Hold Off Agenda

1/7/2004

Hold Off Agenda

7/14/2004

Hold Off Agenda

7/14/2005 Hold Off Agenda
12/13/2006 Advance and Do Pass as a Committee Substitute, Debate
12/14/2006 Passed as Substituted

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 001583

 

Approving and designating Project 13 of the 22nd and Main Tax Increment Financing Redevelopment Plan as a Redevelopment Project and adopting tax increment financing therein.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended ("the Act"), the City Council of Kansas City, Missouri by Ordinance No. 54556 passed on November 24, 1982 and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, on March 19, 1998, the City Council passed Ordinance No. 980230, which approved the 22nd and Main Tax Increment Financing Redevelopment Plan (the "Redevelopment Plan") and designated the Redevelopment Area as a conservation area; and

 

WHEREAS, the Council has approved the First Amendment to the Redevelopment Plan by Ordinance No. 991058 on September 1, 1999; the Second Amendment by Ordinance No. 000751 on June 29, 2000; the Third Amendment by Ordinance No. 000780 on June 29, 2000, and the Fourth Amendment by Ordinance No. 001593 on December 14, 2000; the Seventh Amendment by Ordinance No. 060916 on August 31, 2006; and the Eighth Amendment by Committee Substitute for Ordinance No. 061286 on November 30, 2006; and

 

WHEREAS, the Redevelopment Plan and Ordinance contemplate the implementation of the Redevelopment Plan through a series of Redevelopment Projects and the adoption of tax increment financing in the area 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. The area selected for Project 13 legally described as follows:

 

All of Lots 1, 2 and 3 in Bock 20, Goodrich Addition, a subdivision in Kansas City, Jackson County, Missouri, as said block is marked and designated on the plat of said addition now on file and of record in the Office of the Recorder of Deeds within and for Jackson County, Missouri, being more particularly described as follows:


Beginning at the northwest corner of Block 27 in said Goodrich Addition, thence South 00 degrees 12 minutes 14 seconds East along the west line of said block 27, a distance of 182.00 feet to the northwest corner of said Lot 1 and the true point of beginning; thence South 89 degrees 55 minutes 53 seconds East along the north line of said Lot 1, a distance of 140.50 feet to the northeast corner of said Lot 1; thence South 00 degrees 12 minutes 14 seconds East along the east line of said Lots 1, 2 and 3, a distance of 75.00 feet to the southeast corner of said Lot 3; thence North 89 degrees 55 minutes 53 seconds West along the south line of said Lot 3, a distance of 140.50 feet to the southwest corner of said Lot 3; thence North 00 degrees 12 minutes 14 seconds West along the west line of said Lots 1, 2 and 3, a distance of 75.00 feet to the point of beginning; and being subject to all easements, covenants, rights of way, restrictions and reservations, now of record.

 

And

 

Part of the Southwest Quarter of the Northwest Quarter of Section 8, Township 49, Range 33 and part of Block 27, Goodrich Addition, a subdivision in Kansas City, Jackson County, Missouri, as said block is marked and designated on the plat of said addition now on file and of record in the Office of the Recorder of Deeds within and for Jackson County, Missouri, being more particularly describe as follows:

 

Beginning at the northwest corner of Block 27 in said Goodrich Addition, thence South 00 degrees 12 minutes 14 seconds West along the west line of said Block 27, a distance of 138.39 feet to the true point of beginning; thence North 89 degrees 59 minutes 28 seconds East, a distance of 160.61 feet; thence South 00 degrees 12 minutes 14 Seconds East, a distance of 43.63 feet; thence South 89 degrees 31 minutes 15 seconds West, a distance of 20.11 feet to the northeast corner of Lot 1, Block 20 in said Goodrich Addition; thence North 89 degrees 55 minutes 53 seconds West along the north line of said Lot 1, a distance of 140.50 feet to the northwest corner of said Lot 1; thence North 00 degrees 12 minutes 14 seconds West, a distance of 43.61 feet to the point of beginning; and being subject to all easement, covenants, rights of way, restrictions and reservations, now of record.

 

is approved and designated as Project 13 (hereinafter referred to herein as the "Redevelopment Project Area"). The Redevelopment Project Area includes only those parcels of real property and improvements thereon which will be directly and substantially benefited by the Redevelopment Project improvements therein.

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above-described area selected for the Redevelopment Project Area. After the total equalized assessed valuation of the taxable real property in the Redevelopment Project Area exceeds the certified total initial equalized assessed valuation of the taxable real property in the Redevelopment Project Area, 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 costs have been paid shall be divided as follows:

 

1. That portion of taxes penalties and interest 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 or real property in the area selected for 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 area selected for the Redevelopment Project Area, and any applicable penalty and interest over and above the initial equalized assessed value of each such unit of property 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 60 days of the due date will be deemed delinquent and assessed a penalty of 1% per month.

 

Section 4. In addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, 50% of the total additional revenue from taxes penalties and interest which are imposed by the City or taxing districts, and which are generated by economic activities within the area selected for the Redevelopment Project Area 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, but excluding personal property taxes, taxes imposed on sales of charges for sleeping rooms paid by transient guests of hotels and motels, taxes levied pursuant to  70.500 RSMo, taxes levied pursuant to  94.660 RSMo licenses, fees or special assessments and personal property taxes, other than payments in lieu of taxes, and penalties and interest thereon shall be allocated to, and paid by the local political subdivision 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