ORDINANCE
NO. 150403
Accepting the recommendations of
the Tax Increment Financing Commission as to the Revised Commerce Tower Village
Tax Increment Financing Plan; approving the Revised Commerce Tower Village Tax
Increment Financing Plan; designating a Redevelopment Area; expressing the City
Council’s intent with regard to future amendments to the Revised Commerce Tower
Village Tax Increment Financing Plan; and directing the City Clerk to transmit
copies of this ordinance.
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
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, Ordinance No.
100089, As Amended, passed on January 28, 2010, and Ordinance No. 130986,
passed on December 19, 2013, created the Tax Increment Financing Commission of
Kansas City, Missouri (the "Commission"); and
WHEREAS, the
Revised Commerce Tower Village Tax Increment Financing Plan (the “Redevelopment
Plan”) was proposed to the Commission; and
WHEREAS, the
Redevelopment Plan is a comprehensive program intended to reduce or eliminate
blight and enhance the tax base within the redevelopment area (the
“Redevelopment Area”) through the implementation of projects (“Redevelopment
Projects”) and the adoption of tax increment financing; 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, and adopted its
Resolution (the “Resolution”) recommending to the City Council the approval of
the Redevelopment Plan; and
WHEREAS, the
Redevelopment Plan will include the historic rehabilitation of the Commerce
Tower located at 911 Main Street, and the adjacent parking garage located at
921 Main Street, and such development shall include approximately 90,000 square
feet of commercial/retail uses, an early childhood learning center, a private
elementary school and a graduate school, approximately 342 apartments on floors
7-30, an indoor dog park and an outdoor green space, along with all necessary
infrastructure and public improvements; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the recommendation of the Commission concerning the Revised Commerce Tower
Village Tax Increment Financing Plan as set forth in the Resolution is hereby
accepted and the Redevelopment Plan is hereby approved and adopted.
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 (the
"Act").
Section 3. That
the following described area is hereby designated a Redevelopment Area:
TRACT I: All that part of Lots 11 to
20, both inclusive, Block 2, Ridge's Place, a subdivision of land in Kansas
City, Jackson County, Missouri, described as follows: Beginning at the
intersection of the south line of 9th Street and the east line of Main Street
as said streets are now established, said point being 25 feet south of the
north line of Lot 11; thence east along the south line of 9th Street, 117.05
feet to the east line of said lots; thence south along said east line 208.50
feet, thence west at right angles from the last described course, 116.37 feet
to a point on the east line of Main Street; thence north along said east line
208.84 feet to the point of beginning, together with the West 1/2 of the
vacated alley lying east of and adjacent thereto.
TRACT II: All that part of Lot 20,
Block 2, Ridge's Place, together with the north half of Lot 19, Swope's
Addition, a subdivision of land in Kansas City, Jackson County, Missouri,
described as follows: Beginning at the southeast corner of the north half of
Lot 19: thence north along the east line of Lot 19 and Lot 20, 47.36 feet to a
point which is 208.50 feet south of the south line of 9th Street as now
established; thence west at right angles from the last described course, 116.37
feet to a point on the east line of Main Street, as now established; thence
south along said east line 46.84 feet to the southwest corner of the north half
of Lot 19; thence east along the south line of the north half of Lot 19, 116.22
feet to the point of beginning.
TRACT III: Lots
17, 18 and the South 1/2 of Lot 19, Swope's Addition, a subdivision in Kansas
City, Jackson County, Missouri.
and inclusive of
that portion of the public right of way of 9th Street, 10th Street and Main
Street directly adjacent to Tracts I, II and III.
Section 4. That
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 including deterioration and dilapidation of
site improvements, excessive vacancies, presence of structures below minimum
code standards, lack of ventilation, light or sanitary facilities;
(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, the comprehensive plan for the
development of the City as a whole;
(d)
The area selected for the Redevelopment Projects includes only those
parcels of real property and improvements thereon which will be directly and
substantially benefited by the Redevelopment Projects 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 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 Redevelopment Plan on
each taxing district at least partially within the boundaries of the
Redevelopment Area has been prepared in accordance with the Act;
(h)
The Redevelopment Plan does not include the initial development or
redevelopment of any gambling establishment; and
(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 5. That the Redevelopment Area is a blighted
area located within the City's urban core area.
Section 6. That
the Commission is authorized to issue obligations in one or more series of
bonds secured by the Revised Commerce Tower Village 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 7. That
pursuant to the provisions of the Redevelopment Plan, the City Council approves
the pledge of all funds that are deposited into the Revised Commerce Tower
Village 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.
Section 8. That
the City Council expresses its intention not to approve any subsequent
amendment to the Redevelopment Plan or Redevelopment Projects that would allow
for the reimbursement of Redevelopment Project Costs in excess of those
authorized within the Redevelopment Plan hereby approved.
Section
9. That the City Clerk shall send a copy of this ordinance to the County Clerk
and County Executive of Jackson County, Missouri.
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Approved as to form and legality:
______________________________
Brian T. Rabineau
Assistant City Attorney