COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 050212
Accepting the recommendations of
the Tax Increment Financing Commission as to the 87th Street and
Hillcrest Road Tax Increment Financing Plan; approving the 87th
Street and Hillcrest Road 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, the 87th Street and Hillcrest Road Increment Financing Plan (the
Redevelopment Plan) 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 and after
receiving the comments of all interested persons and taxing districts with
respect to the Redevelopment Plan, closed said public hearing on February 9,
2005, adopted its Resolution No. 2-5-05 (the Resolution) recommending to the
City Council the approval of the Plan (the "Redevelopment Plan"); and
WHEREAS, the
Redevelopment Plan is a comprehensive program intended to reduce or eliminate
blight and enhance the tax base within the Redevelopment Area through the
implementation of one Redevelopment Project and the adoption of tax increment
financing for the area selected for such Redevelopment Project; 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.
Section 2. 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 (the
"Act").
Section 3. The
following described area is hereby designated a Redevelopment Area:
All of the North
825.00 feet of the Northeast Quarter of the Southeast Quarter of Section 23,
Township 48, Range 33 in Kansas City, Jackson County, Missouri, EXCEPT that
part in roads. Containing 1,088,152.64 square feet or 24.98 acres, more or
less.
Section 4. In
accordance with the recommendations of the Commission as set forth in the
Resolution, the City Council hereby finds that:
(a) The Redevelopment Area as a whole is a blighted area,
evidenced by defective or inadequate street layout; unsanitary or unsafe
conditions; deterioration of site improvements; and other blighting conditions.
(b) The Redevelopment Area 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;
(c) The Redevelopment Plan conforms to FOCUS and South
Development Area Land Use 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
are not more than 23 years from the adoption 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
Redevelopment Plan 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 Redevelopment Plan does not include the initial
development or redevelopment of any gambling establishment.
Section 5. The
City and/or the Commission is authorized to issue obligations in one or more
series of bonds secured by the 87th Street and Hillcrest Road Tax
Increment Financing Plan 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 City and/or 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 87th Street and Hillcrest Road Tax Increment
Financing Plan 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