COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 100535
Accepting the recommendations of
the Tax Increment Financing Commission as to the First Amendment to the W. 17th
Street Tax Increment Financing Plan; and approving the First Amendment to the
W. 17th Tax Increment Financing Plan.
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November 24, 1982, and thereafter repealed and amended in certain respects by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 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
March 19, 1998, the City Council passed Committee Substitute for Ordinance No. 080726,
As Amended, which approved the recommendations of the Commission as to the W.
17th Tax Increment Financing Plan (the “Redevelopment Plan”) and designated the
Redevelopment Area therein to be a blighted area; and
WHEREAS, a first
amendment to the Redevelopment Plan entitled the First Amendment to the W. 17th
Tax Increment Financing Plan (the “First Amendment”) was proposed to the
Commission; and
WHEREAS, said
Commission has been duly constituted and its members appointed; and, after all
proper notice was given, the Commission met in public hearing and after
receiving the comments of all interested persons and taxing districts, closed
said public hearing on May 12, 2010, adopted Resolution No. 5-03-10 (the
“Resolution”) recommending that the City Council approve the First Amendment;
and
WHEREAS, the
First Amendment amends line items in the Estimated Redevelopment Project Costs
of Project C; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. 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 and the Redevelopment Project contained therein
is hereby authorized.
Section 2. All
terms used in this ordinance, not otherwise defined herein, shall be construed
as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as
amended (the Act).
Section 3. The
Council hereby finds that:
(a) Good cause has been shown for amendment of the Redevelopment
Plan, and that the findings of the Council in Ordinance No. 980230, with
respect to the Redevelopment Plan are not affected by the First Amendment and
apply equally to the First Amendment;
(b) The Redevelopment Area, as amended, is a blighted area, as a
whole, 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 adoption of the Redevelopment Plan, as amended, and the First
Amendment;
(c) The Redevelopment Plan, as amended, conforms to 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 therein 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, as
amended, and are not more than 23 years from the adoption of any ordinance
approving a Redevelopment Project within the Redevelopment Area, as amended;
(f) The plan has been developed for relocation assistance for
businesses and residences;
(g) The 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;
(h) The First
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. The
Commission is authorized to issue obligations in one or more series of bonds
secured by the W. 17th Account of the Special Allocation Fund to finance
Redevelopment Project Costs within the Redevelopment Area, as amended, 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
stake all such further actions as are reasonably necessary to achieve the
objectives of the Redevelopment Plan, as amended, pursuant to the power
delegated to it in Ordinance No. 980230. Any obligations issued to finance
Redevelopment Project Costs shall contain a recital that they are issued
pursuant to Sections 99.800 and 99.865, which recital shall be conclusive
evidence of their validity and of the regularity of their issuance.
Section 5.
Pursuant to the provisions of the Redevelopment Plan, as amended, the City
Council approves the pledge of all funds generated from Redevelopment Projects
that are deposited into the W. 17th Account of the Special Association Fund to
the payment of Redevelopment Project Costs within the Redevelopment Area, as
amended, and authorizes the Commission to pledge such funds on its behalf.
_____________________________________________
Approved as to form and legality:
______________________________
Heather A. Brown
Assistant City
Attorney