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Legislation #: 061321 Introduction Date: 11/30/2006
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the 45th Street Tax Increment Financing Plan; approving the 45th Street Tax Increment Financing Plan; and designating a Redevelopment Area.

Legislation History
DateMinutesDescription
11/28/2006 Filed by the Clerk's office
11/30/2006 Referred to Planning, Zoning & Economic Development Committee
12/13/2006 Advance and Do Pass as a Committee Substitute, Debate
12/14/2006 Passed as Substituted

View Attachments
FileTypeSizeDescription
061321.pdf Authenticated 131K Authenticated
00073135.doc Legal Description 24K Legal Description 45th Street TIF Plan
00073130.xls Fact Sheet 35K Ordinance Fact Sheet 45th Street TIF Plan
00073060.doc Fact Sheet 27K Request for Ordinance 45th Street TIF Plan

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 061321

 

Accepting the recommendations of the Tax Increment Financing Commission as to the 45th Street Tax Increment Financing Plan; approving the 45th Street Tax Increment Financing Plan; and designating a Redevelopment Area.

 

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, 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 November 8, 2006, adopted its Resolution No. 11-15-06 (Resolution) recommending to the City Council the approval of the 45th Street Tax Increment Financing Plan (the "Redevelopment Plan"); and

 

WHEREAS, the Redevelopment Plan is a comprehensive program intended to reduce or eliminate those conditions, the existence of which qualified the Redevelopment Area as a conservation area and enhance the tax base within the Redevelopment Area through the implementation of a number 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. The recommendation of the Commission concerning the Redevelopment Plan as set forth in the resolution attached hereto as Exhibit "A" is hereby accepted and the Redevelopment Plan, 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. All terms used in this ordinance shall be construed as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as amended.

 

Section 3. The following described area is hereby designated a Redevelopment Area:

 

Tract 1, Plaza Inn, a subdivision in Kansas City, Jackson County, Missouri, as shown by the plat recorded February 1, 1996, as Document No. K-0004367.

 

Section 4. The City Council hereby finds that:

 

(a) The Redevelopment Area as a whole is a conservation area, and 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 Redevelopment Area is detrimental to the public health, safety, morals, or welfare and may become a blighted area because of the following factors: obsolescence; deterioration; and depreciation of physical maintenance;

 

(b) The Redevelopment Plan conforms to the comprehensive plan for the development of the City as a whole;

 

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

 

(d) A plan has been developed for relocation assistance for businesses and residences.

 

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the 45th Street 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 in Ordinance No. 54556. 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 6. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the 45th Street 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:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney