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Legislation #: 120025 Introduction Date: 1/5/2012
Type: Ordinance Effective Date: 1/22/2012
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Tenth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan; and approving the Tenth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
1/5/2012 Filed by the Clerk's office
1/5/2012 Referred to Planning, Zoning & Economic Development Committee
1/11/2012 Advance and Do Pass, Debate
1/12/2012 Passed

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120025.tiff Authenticated 188K AUTHENTICATED
fact_sheet 120025.XLS Fact Sheet 93K Fact Sheet
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120025 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120025
11th St. Corridor TIF - 10th Amend.- But For Analysis.pdf Plan 2462K 11th Street Corridor TIF - 10th Amendment
11th St. Corridor TIF - 10th Amend.- But For Analysis.pdf Plan 2462K 11th Street Corridor TIF - 10th Amendment
11th St. Corridor TIF - 10th Amend. - Affirm. Action Policy.pdf Plan 1338K 11th Street Corridor TIF - 10th Amendment
11th St. Corridor TIF - 10th Amend - Developer's Application.pdf Plan 813K 11th Street Corridor TIF - 10th Amendment
11th St. Corridor TIF - 10th Amend.pdf Plan 903K 11th Street Corridor TIF - 10th Amendment
11th Street Corridor TIF - Revised 10th Amendment - Board Agenda Packet (00142929).DOCX Staff Report 31K 11th Street Corridor TIF - 10th Amendment
11th Street Corridor TIF - 10th Amendment - Request For Ordinance (00142948).DOCX Request for Ordinance 19K 11th Street Corridor TIF - 10th Amendment

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ORDINANCE NO. 120025

Accepting the recommendations of the Tax Increment Financing Commission as to the Tenth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan; and approving the Tenth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan.

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“Act”), the City Council of Kansas City, Missouri by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on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 December 10, 1992, the City of Kansas City, Missouri, approved the Eleventh Street Corridor Tax Increment Financing Plan by Ordinance No. 921355, which approved the Redevelopment Plan, found the area described therein ("Redevelopment Area") to qualify as a Conservation area; and designated the Redevelopment Area as a Redevelopment Area pursuant to the Act; and

  WHEREAS, on April 11, 1994, the Commission recommended approval of the First Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the "First Amendment") by way of Resolution No. 94-35 and on June 23, 1994, the City of Kansas City, Missouri approved the First Amendment through passage of Ordinance No. 940721; and

  WHEREAS, on September 20, 1995, the Commission recommended approval of the Second Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the "Second Amendment") by way of Resolution No. 95-84 and on November 21, 1995, the City of Kansas City, Missouri approved the Second Amendment through passage of Ordinance No. 951478; and

  WHEREAS, on March 20, 1996, the Commission recommended approval of the Third Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the "Third Amendment") by way of Resolution No. 96-30 and on April 11, 1996, the City of Kansas City, Missouri approved the Third Amendment through passage of Committee Substitute for Ordinance No. 960295; and

  WHEREAS, on September 9, 1998, the Commission determined not to adopt a proposed Fourth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan; and

  WHEREAS, on October 14, 1998, the Commission recommended approval of the Fifth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the "Fifth Amendment") by way of Resolution No. 10-2-98 and on November 23, 1998, the City of Kansas City, Missouri approved the Fifth Amendment through passage of Ordinance No. 981334; and

  WHEREAS, on May 12, 1999, the Commission recommended approval of the Sixth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the “Sixth Amendment”) by way of Resolution No. 5-4-99 and on September 2, 1999, the Council approved the Sixth Amendment through passage of Ordinance No. 991015; and

  WHEREAS, on May 12, 1999, the Commission recommended approval of the Seventh Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the “Seventh Amendment”) by way of Resolution No. 5-4-99 and on November 13, 2003, the Council approved the Seventh Amendment through passage of Ordinance No. 031223; and

WHEREAS, on October 13, 2004, the Commission recommended approval of the Eighth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the “Eighth Amendment”) by way of Resolution No. 10-18-04 and on November 18, 2004, the Council approved the Eighth Amendment through passage of Ordinance No. 041258; and

WHEREAS, on February 9, 2005, the Commission recommended approval of the Ninth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan (the “Ninth Amendment”) by way of Resolution No. 2-7-05 and on March 24, 2005, the Council approved the Ninth Amendment through passage of Committee Substitute for Ordinance No. 050325; and

WHEREAS, an amendment to the Redevelopment Plan entitled "The Tenth Amendment to the Eleventh Street Corridor Tax Increment Financing Plan" ("Tenth Amendment") affecting the area described therein was proposed to the Commission; and

  WHEREAS, the Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing on December 21, 2011, and after receiving the comments of all interested persons and taxing districts, closed said public hearing and approved Resolution No. 12-27-11 (the "Resolution") recommending to the City Council the approval of the Tenth Amendment; and

  WHEREAS, the intent of the Tenth Amendment is to (i) amend the Redevelopment Project Costs and Reimbursable Costs for Project C (Lyric Building); and (ii) correct errors in the budget for Redevelopment Project Costs and Reimbursable Costs; NOW, THEREFORE,

  BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

  Section 1. That the recommendations of the Commission concerning the Tenth Amendment as set forth in the Resolution attached hereto as Exhibit "A" are hereby accepted and the Tenth Amendment, a copy of which is attached hereto as Exhibit "B", is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized.

  Section 2. 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 3. That in accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

(a) Good cause has been shown for amendment of the Redevelopment Plan, and that the findings of the City Council in Ordinance Nos. 921355, 940721, 951478, Committee Substitute for 960295, 981334, 991015, 031223, 041258, and Committee Substitute for Ordinance No. 050325 with respect to the Redevelopment Plan, as amended, are not affected by the Tenth Amendment and apply equally to said Tenth Amendment.

(b) The Redevelopment Area as a whole is a conservation area, and has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the approval of the Redevelopment Plan or the Tenth Amendment. 

(c) The Tenth Amendment conforms to FOCUS and the Downtown Land Use and Development Plan, together, the comprehensive plan for the development of the City as a whole;

(d) 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;

(e) The estimated dates of completion of the respective Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs, have been stated in the Redevelopment Plan and the Tenth Amendment, and are not more than 23 years from the passage of any ordinance approving a Redevelopment Project within the Redevelopment Area;

(f) A plan has been developed for relocation assistance for businesses and residences; 

(g) A cost-benefit analysis showing the impact of the Tenth Amendment on each taxing district at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act; and

(h) The Tenth Amendment does not include the initial development or redevelopment of any gambling establishment.

(i) A blight study has been completed and the findings of such study satisfy the requirements provided under subdivision (1) of Section 99.805, RSMo.

Section 4. That the Commission is authorized to issue obligations in one or more series of bonds secured by the Eleventh Street Corridor 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 pursuant to the power delegated to it by the City. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 to 99.865, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.

Section 5. That pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds that are deposited into the Eleventh Street Corridor 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. 

_________________________________________________

Approved as to form and legality: 

 

______________________________ Cecilia Abbott

Assistant City Attorney