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Legislation #: 120922 Introduction Date: 10/25/2012
Type: Ordinance Effective Date: 11/18/2012
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the First Amendment to the Judicial Square Tax Increment Financing Plan; approving the First Amendment to the Judicial Square Tax Increment Financing Plan; and directing the City Clerk to transmit copies of this ordinance.

Legislation History
DateMinutesDescription
10/22/2012 Filed by the Clerk's office
10/25/2012 Referred to Planning, Zoning & Economic Development Committee
10/31/2012 Do Pass
11/1/2012 Add to Consent Docket
11/8/2012 Passed

View Attachments
FileTypeSizeDescription
120922.pdf Authenticated 74K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120922 Website Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120922
120922 Fact Sheet.xls Fact Sheet 75K Fact Sheet
Judicial Square Map.pdf Exhibit 91K Judicial Square TIF - 1st Amendment
Judicial Square TIF - First Amendment (00153629).DOCX TIF Plan 25K Judicial Square TIF - 1st Amendment
Judicial Square TIF - 1st Amendment - staff report - continuance (00152675-2).DOCX Staff Report 26K Judicial Square TIF - 1st Amendment
Judicial Square TIF 1st Amendment - Request For Ordinance (00153891).DOCX Request for Ordinance 20K Judicial Square TIF - 1st Amendment

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ORDINANCE NO. 120922

 

Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the First Amendment to the Judicial Square Tax Increment Financing Plan; approving the First Amendment to the Judicial Square Tax Increment Financing Plan; and directing the City Clerk to transmit copies of this ordinance.

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

 

WHEREAS, in Ordinance No. 030550, the Council accepted the recommendations of the Commission, approved the Judicial Square Tax Increment Financing Plan (the “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 hearings; and  

 

WHEREAS, the First Amendment provides for the correction of the legal description and was approved by the Commission; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the recommendations of the Commission concerning the First Amendment 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, 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 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. 030550 are not affected by the First Amendment and apply equally to the First Amendment.  

 

Section 4. That in accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that: 

 

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 Area.  

 

b. The First Amendment 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 Amendment includes a plan for relocation assistance for businesses and residences.  

 

f. A cost-benefit analysis showing the impact of the First 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.  

 

g. The First Amendment 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 following is a new legal description for the First Amendment to the Judicial Square Tax Increment Financing Plan:

 

The western one-half of the vacated north-south alley lying between E. 13th Street on the north and the east-west alley lying between Oak Street on the west and Locust Street on the east, and Lots 1012, 1013, 1014 and 1015, Block 72, McGee’s Addition, all situate in Kansas City, Jackson County, Missouri.

 

Section 6. That the Commission is authorized to issue obligations in one or more series of bonds secured by the Judicial Square Tax Increment 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 7. That the City Council approves the pledge of all funds that are deposited into the Judicial Square 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.

 

Section 8. That the City Clerk shall send a copy of this ordinance to the County Clerk and County Executive of Jackson County, Missouri.

 

_____________________________________________

 

Approved as to form and legality:

 

 

______________________________

Brian Rabineau

Assistant City Attorney