KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 081130 Introduction Date: 11/6/2008
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Shoal Creek Parkway Redevelopment Project AA of the Shoal Creek Parkway Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.

Legislation History
DateMinutesDescription
11/4/2008 Filed by the Clerk's office
11/6/2008 Referred to Planning, Zoning & Economic Development Committee
11/19/2008 Hold Off Agenda
2/5/2019 Release

View Attachments
FileTypeSizeDescription
00105088.DOC Request for Ordinance 25K Request for Ordinance
00105062.XLS Fact Sheet 68K Ordinance Fact Sheet

Printer Friendly Version

ORDINANCE NO. 081130

 

Approving and designating Shoal Creek Parkway Redevelopment Project AA of the Shoal Creek Parkway 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 amended in certain respects by Committee Substitute for 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 November 10, 1994, the City Council passed Ordinance No. 941443, which accepted the recommendations of the Commission as to the Shoal Creek Parkway Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a blighted area; and

 

WHEREAS, the Redevelopment Plan and the 8 amendments thereto and the corresponding ordinances contemplate the implementation of the Redevelopment Plan through a number of separate Redevelopment Projects and the adoption of tax increment financing in each of 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. The area selected for Redevelopment Project AA legally described as follows:

 

All that part of the Southeast Quarter of Section 34, Township 52 North, Range 32 West, Kansas City, Clay County, Missouri, being described as follows: Commencing at the Southwest corner of the Southeast Quarter of said Section 34; thence South 891808 East, along the South line of said Southeast Quarter, 787.12 feet; thence North 000331 West, 131.19 feet to a point on the centerline of Northeast 96th Street, as now established, said point being the True Point of Beginning of the Tract to be herein described; thence continuing North 000331 West, 621.08 feet to a point on the South line of Benson Place-First Plat, a subdivision of land in said Kansas City, Missouri; thence North 750042 East, along said South line, 337.76 feet; thence North 874737 East, along said South line, 108.86 feet; thence South 652934 East, along said South line, 220.53 feet to its intersection with the West Right-of-Way line of North McKinley Avenue, as now established; thence Southerly, along said Westerly Right-of-Way line, on a curve to the left, having an Initial Tangent Bearing of South 143133 West, a radius of 990.00 feet, a central angle of 143504, an arc distance of 252.00 feet; thence South 034741 West, along said West Right-of-Way line, 89.28 feet; thence South 000331 East, along said West Right-of-Way line, 132.30 feet; thence Southerly, along said West Right-of-Way line, on a curve to the right, tangent to the last described course, having a radius of 35.00 feet, a central angle of 900000, an arc distance of 54.98 feet; thence South 000331 East, 50.00 feet to a point on the centerline of said Northeast 96th Street; thence South 895629 West, along said centerline, 562.81 feet to the True Point of Beginning. Containing 9.34 acres, more or less.

 

is approved and designated as the Shoal Creek Parkway Tax Increment Financing Plan Redevelopment Project AA (Project AA).

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project AA. After the total equalized assessed valuation of the taxable real property in Project AA exceeds the certified total initial equalized assessed valuation of the taxable real property in Project AA, 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 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 Project AA 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 Project AA over and above the initial equalized assessed value of each such unit of property in the area selected for Project AA 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 AA 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 taxes imposed on sales of charges for sleeping rooms paid by transient guests of hotels and motels, licenses, fees or special assessments and personal property taxes, 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 in a separate segregated account within the Special Allocation Fund.

 

_____________________________________________

 

Approved as to form and legality:

 

 

______________________________

Heather A. Brown

Assistant City Attorney