ORDINANCE
NO. 160592
Accepting and approving the recommendations of the Tax
Increment Financing Commission of Kansas City as to the Twelfth Amendment to
the Shoal Creek 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
created the Tax Increment Financing Commission of Kansas City, Missouri (the
"Commission"); and
WHEREAS, on November 10, 1994, the Council passed Ordinance
No. 941443, which accepted the recommendations of the Commission as to the
Shoal Creek Parkway Tax Increment Financing Plan (the “Redevelopment Plan”),
approved the Redevelopment Plan, found the Redevelopment Area to be an economic
development area, designated the Redevelopment Area as a Redevelopment Area
pursuant to the Act, approved an agreement with the Commission, and authorized
the Commission to take all such action as may be needed to effectuate the
Redevelopment Plan; and
WHEREAS, the Redevelopment Plan has previously been amended
eleven times; and
WHEREAS, a Twelfth Amendment was presented to the
Commission; and
WHEREAS, the Commission, having been duly constituted and
its members appointed, after all proper notice was given, met in public hearing
and, after receiving the comments of all interested persons and taxing
districts, closed the public hearing on July 13, 2016, and adopted its
resolution recommending approval of the Twelfth Amendment; and
WHEREAS, the Twelfth Amendment provides for modifications
to the Budget of Redevelopment Project Costs, adds project improvements and
expands the boundaries of the Redevelopment Area; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the recommendations of the Commission
concerning the Twelfth Amendment are accepted and the Twelfth Amendment is
approved and adopted.
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 Council finds that:
(a) Good cause has
been shown for amendment of the Redevelopment Plan, and that the previous
findings of the City Council with respect to the Redevelopment Plan are not
affected by the Twelfth Amendment and apply equally to the Twelfth
Amendment;
(b) The Redevelopment
Area, as amended, is an economic development 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;
(c) The areas selected
as Redevelopment Projects include only those parcels of real property and
improvements which will be directly and substantially benefited by the
Redevelopment Project improvements;
(d) The Redevelopment
Plan, as amended, and each Redevelopment Project, conform to the comprehensive
plan for the development of the City as a whole;
(e) 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, as amended, and are not more than 23 years
from the passage of any ordinance approving a Redevelopment Project within the
Redevelopment Area, as amended;
(f) A plan has been
developed for relocation assistance for businesses and residences;
(g) A cost-benefit
analysis showing the impact of the Redevelopment Plan, as amended, on each
taxing district which is at least partially in the boundaries of the
Redevelopment Area, as amended, has been prepared in accordance with the
Act;
(h) The Twelfth
Amendment does not include the initial development or redevelopment of any gambling
establishment; and
(i) A study has been
completed and the findings of such study satisfy the requirements set out in
subdivision (1) of Section 99.810, RSMo.
Section 4. That the Commission is hereby authorized to
issue obligations in one or more series secured by the Shoal Creek Account of
the Special Allocation Fund to finance Redevelopment Project Costs identified
by within the Redevelopment Plan, 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 take 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 by the
City Council. Any obligations issued to finance Redevelopment Project Costs
shall contain a recital that they are issued pursuant to Sections 99.800 to
99.865, RSMo, 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, as amended, the Council approves the pledge of all funds
generated from Redevelopment Projects that are deposited into the Shoal Creek
Account of the Special Allocation 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.
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Approved as to form and
legality:
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Brian T. Rabineau
Assistant City Attorney