COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 140597

Approving and designating Redevelopment Project Area 1 of the Bannister & I-435 Tax Increment Financing Plan as amended by the First Amendment to the Bannister & I-435 Tax Increment Financing Plan as a Redevelopment Project; adopting tax increment financing therefor; 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 “TIF Act”), 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 City Council approved the Bannister & I-435 Tax Increment Financing Plan by Committee Substitute for Ordinance No. 130737, passed on October 10, 2013; and

WHEREAS, the City Council subsequently approved the First Amendment to the Bannister & I-435 Tax Increment Financing Plan (the Bannister & I-435 Tax Increment Financing Plan as amended by the First Amendment to the Bannister & I-435 Tax Increment Financing Plan is referred to herein as the “Redevelopment Plan”) and designated the Redevelopment Area as a blighted area; and

WHEREAS, the Redevelopment Plan contemplates the implementation of the Redevelopment Plan through a number of 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. That all terms used in this ordinance shall be construed as defined in the TIF Act.

Section 2. That the area selected for Redevelopment Project Area 1 legally described as follows:

A tract of land situated in a portion of the Southwest Quarter of Section 24 and the Northwest Quarter of Section 25, all in Township 48 North, Range 33 West of the 5th Principal Meridian, in the Kansas City, Jackson County, Missouri, being more particularly described as follows:

(Note: The bearing system in the following description is based on Grid North, Missouri Coordinate System of 1983/97).

Commencing at the Northeast corner of the Southwest Quarter of said Section 24; thence North 86 degrees 46 minutes 23 seconds West 729.54 feet along the North line of said Southwest Quarter; thence South 3 degrees 13 minutes 37 seconds West 40.00 feet to a point on the South Right-of-Way line of 87th Street and the Westerly Right-of-Way line of the Kansas City Southern Railroad as now established, said point also being the true point of beginning of the tract herein described. Thence South 8 degrees 24 minutes 02 seconds West 200.16 feet along the Westerly Right-of-Way line of the Kansas City Southern Railroad; thence South 18 degrees 19 minutes 13 seconds East 220.00 feet along said Westerly Right-of-Way line; thence South 38 degrees 13 minutes 59 seconds East 264.25 feet along said Westerly Right-of-Way line; thence South 18 degrees 19 minutes 13 seconds East 23.93 feet along said Westerly Right-of-Way line; thence South 31 degrees 02 minutes 07 seconds East 136.30 feet along said Westerly Right-of-Way line; thence South 18 degrees 19 minutes 13 seconds East 724.31 feet along said Westerly Right-of-Way line, to the beginning of a curve concave to the Southwest having a radius of 2814.93 feet; thence 773.42 feet along said Westerly Right-of-Way line and curve to the right having a chord bearing South 10 degrees 26 minutes 57 seconds East 770.98 feet, to a point on the East line of said Southwest Quarter of Section 24; thence South 02 degrees 08 minutes 00 seconds West 419.68 feet along said East line and Westerly Right-of-Way line, to a point on the North Right-of-Way line of vacated 91st Street as now established; thence North 86 degrees 50 minutes 21 seconds West 91.48 feet along said North Right-of-Way line; thence South 02 degrees 26 minutes 44 seconds West 541.98 feet along said Westerly Right-of-Way line; thence North 60 degrees 36 minutes 37 seconds West 271.21 feet; thence North 81 degrees 15 minutes 48 seconds West 430.59 feet; thence North 68 degrees 38 minutes 09 seconds West 334.45 feet; thence North 57 degrees 53 minutes 18 seconds West 377.50 feet to the beginning of a non-tangent curve concave to the South having a radius of 145.00 feet; thence Westerly 24.98 feet, along said curve to the left having a chord bearing North 71 degrees 58 minutes 22 seconds West 24.95 feet, to the beginning of a compound curve concave to the South having a radius of 62.00 feet; thence Westerly 41.00 feet, along said curve to the left having a chord bearing South 84 degrees 08 minutes 52 seconds West 40.26 feet; thence South 65 degrees 12 minutes 12 seconds West 50.22 feet, to Easterly right-of-way line for a private access easement on Hillcrest and the beginning of a curve concave to the Southeast having a radius of 177.00 feet; thence Southwesterly 99.04 feet, along said curve to the left having a chord bearing South 49 degrees 10 minutes 27 seconds West 97.75 feet, to the beginning of a reverse curve concave to the Northwest having a radius of 1822.00 feet; thence Southwesterly 647.98 feet, along said curve to the right having a chord bearing South 43 degrees 19 minutes 59 seconds West 644.57 feet, to the beginning of a reverse curve concave to the Southeast having a radius of 789.00 feet; thence Southwesterly 227.16 feet along said curve to the left having a chord bearing South 45 degrees 16 minutes 24 seconds West 226.38 feet; thence South 37 degrees 01 minutes 31 seconds West 159.10 feet to the beginning of a curve concave to the Southeast having a radius of 675.00 feet; thence Southwesterly 233.52 feet, along said curve to the left having a chord bearing South 27 degrees 06 minutes 52 seconds West 232.36 feet, to the beginning of a compound curve concave to the Northeast having a radius of 29.00 feet; thence Southeasterly 46.11 feet, along said curve to the left having a chord bearing South 28 degrees 20 minutes 47 seconds East 41.40 feet, to a point on the Northerly right-of-way line of 93rd Street as now established; thence North 73 degrees 53 minutes 47 seconds West 8.52 feet along said right-of-way line; thence North 75 degrees 40 minutes 29 seconds West 198.03 feet, along said right-of-way line, to a point on the Westerly right-of-way line of the private access easement for Hillcrest and the beginning of a non-tangent curve concave to the North having a radius of 185.00 feet; thence Easterly 50.49 feet, along said curve to the left having a chord bearing South 82 degrees 01 minutes 21 seconds East 50.33 feet, to the beginning of a compound curve concave to the Northwest having a radius of 39.00 feet; thence Northeasterly 49.57 feet, along said curve to the left having a chord bearing North 53 degrees 44 minutes 39 seconds East 46.30 feet; thence North 17 degrees 19 minutes 44 seconds East 96.14 feet to the beginning of a curve concave to the Southeast having a radius of 511.00 feet; thence Northeasterly 116.12 feet, along said curve to the right having a chord bearing North 23 degrees 50 minutes 20 seconds East 115.87 feet; thence North 30 degrees 20 minutes 55 seconds East 28.33 feet to the beginning of a curve concave to the Southeast having a radius of 800.00 feet; thence Northeasterly 146.16 feet, along said curve to the right having a chord bearing North 35 degrees 34 minutes 58 seconds East 145.96 feet; thence North 40 degrees 49 minutes 00 seconds East 69.88 feet to the beginning of a curve concave to the Southeast having a radius 511.00 feet; thence Northeasterly 139.60 feet, along said curve to the right having a chord bearing North 48 degrees 38 minutes 35 seconds East 139.17 feet, to the beginning of a reverse curve concave to the Northwest having a radius of 1724.00 feet; thence Northeasterly 589.25 feet, along said curve to the left having a chord bearing North 46 degrees 40 minutes 41 seconds East 586.39 feet, to the beginning of a compound curve concave to the Northwest having a radius 787.00 feet; thence Northeasterly 133.22 feet, along said curve to the left having a chord bearing North 32 degrees 02 minutes 13 seconds East 133.06 feet, to the beginning of a compound curve concave to the West having a radius of 147.00 feet; thence Northerly 32.02 feet, along said curve to the left having a chord bearing North 20 degrees 56 minutes 47 seconds East 31.96 feet, to the beginning of a compound curve concave to the Southwest having a radius of 52.00 feet; thence Northwesterly 49.81 feet, along said curve to the left having a chord bearing North 12 degrees 44 minutes 12 seconds West 47.93 feet, to the beginning of a compound curve concave to the Southwest having a radius of 207.00 feet; thence Northwesterly 58.70 feet along said curve to the left having a chord bearing North 48 degrees 18 minutes 10 seconds West 58.50 feet; thence North 25 degrees 58 minutes 55 seconds East 105.60 feet to the beginning of a non-tangent curve concave to the North having a radius of 97.00 feet; thence Easterly 70.99 feet, along said curve to the left having a chord bearing North 82 degrees 05 minutes 31 seconds East 69.42 feet; thence North 61 degrees 07 minutes 31 seconds East 35.46 feet to the beginning of a curve concave to the Northwest having a radius of 123.00 feet; thence Northeasterly 85.86 feet, along said curve to the left having a chord bearing North 41 degrees 07 minutes 42 seconds East 84.12 feet, to the beginning of a compound curve concave to the West having a radius of 1724.00 feet; thence Northerly 522.14 feet, along said curve to the left having a chord bearing North 12 degrees 27 minutes 18 seconds East 520.15 feet, to the beginning of a reverse curve concave to the East having a radius of 1849.00 feet; thence Northerly 526.49 feet, along said curve to the right having a chord bearing North 11 degrees 56 minutes 08 seconds East 524.71 feet, to the beginning of a reverse curve concave to the West having a radius of 387.00 feet; thence Northerly 110.25 feet, along said curve to the left having a chord bearing North 11 degrees 55 minutes 55 seconds East 109.87 feet, to the beginning of a compound curve concave to the West having a radius of 149.00 feet; thence Northerly 50.19 feet along said curve to the left having a chord bearing North 05 degrees 52 minutes 47 seconds West 49.96 feet, to the beginning of a compound curve concave to the Southwest having a radius of 39.00 feet; thence Northwesterly 27.54 feet, along said curve to the left having a chord bearing North 35 degrees 45 minutes 34 seconds West 26.97 feet, to the beginning of a compound curve concave to the Southwest having a radius of 127.00 feet; thence Northwesterly 24.14 feet along said curve to the left having a chord bearing North 61 degrees 26 minutes 02 seconds West 24.10 feet; thence North 13 degrees 50 minutes 51 seconds East 82.02 feet to the beginning of a non-tangent curve concave to the North having a radius of 297.00 feet; thence Easterly 36.65 feet, along said curve to the left having a chord bearing North 84 degrees 46 minutes 04 seconds East 36.63 feet, to the beginning of a compound curve concave to the Northwest having a radius of 27.00 feet; thence Northeasterly 16.45 feet, along said curve to the left having a chord bearing North 63 degrees 46 minutes 45 seconds East 16.20 feet, to the beginning of a reverse curve concave to the Southeast having a radius of 116.50 feet; thence Northeasterly 66.11 feet, along said curve to the right having a chord bearing North 62 degrees 35 minutes 02 seconds East 65.23 feet, to the beginning of a reverse curve concave to the Northwest having a radius of 27.00 feet; thence Northeasterly 6.47 feet along said curve to the left having a chord bearing North 71 degrees 58 minutes 20 seconds East 6.46 feet; thence North 65 degrees 06 minutes 10 seconds East 11.84 feet to the beginning of a curve concave to the Northwest having a radius of 147.00 feet; thence Northeasterly 88.16 feet along said curve to the left having a chord bearing North 47 degrees 55 minutes 20 seconds East 86.84 feet; thence North 30 degrees 44 minutes 31 seconds East 26.67 feet to the beginning of a curve concave to the Northwest having a radius of 1,187.00 feet; thence Northeasterly 148.00 feet along said curve to the left having a chord bearing North 27 degrees 10 minutes 11 seconds East 147.91 feet; thence North 23 degrees 35 minutes 52 seconds East 172.46 feet; thence North 21 degrees 18 minutes 21 seconds” East 100.08 feet; thence North 23 degrees 35 minutes 52 seconds East 62.95 feet to the beginning of a curve concave to the West having a radius of 600.00 feet; thence Northerly 252.21 feet along said curve to the left having a chord bearing North 11 degrees 33 minutes 19 seconds East 250.36 feet; thence North 00 degrees 29 minutes 13 seconds West 114.54 feet to the beginning of a curve concave to the West having a radius of 97.00 feet; thence Northerly 51.90 feet along said curve to the left having a chord bearing North 15 degrees 48 minutes 49 seconds West 51.28 feet; thence North 51 degrees 56 minutes 54 seconds East 53.55 feet; thence South 86 degrees 46 minutes 23 seconds East 127.44 feet to a point on the East Right-of-Way line of Hillcrest Road as now established; thence North 03 degrees 13 minutes 37 seconds East 23.13 feet, along said East Right-of-Way line to the beginning of a curve concave to the Southeast having a radius of 15.00 feet; thence Northeasterly 23.56 feet along said East Right-of-Way line and curve to the right having a chord bearing North 48 degrees 13 minutes 37 seconds East 21.21 feet; thence North 03 degrees 13 minutes 37 seconds East 10.00 feet to a point on the South Right-of-Way line of 87th Street 40.00 feet South of the North line of the Southwest Quarter of said Section 24; thence South 86 degrees 46 minutes 23 seconds East 30.00 feet, along said South Right-of-Way line, to the true point of beginning of the tract herein described containing a gross area of 3,145,392 square feet or 72.21 acres, more or less.

Except the following described tract:

(Lot 2 & Lot TC-2)

A tract of land situated in a portion of the Southwest Quarter of Section 24, Township 48 North, Range 33 West of the 5th Principal Meridian, in the Kansas City, Jackson County, Missouri being more particularly described as follows:

(Note: The bearing system in the following description is based on Grid North, Missouri Coordinate System of 1983/97).

Commencing at the Northeast corner of the Southwest Quarter of said Section 24; thence North 86 degrees 46 minutes 23 seconds West 713.62 feet along the North line of said Southwest Quarter; thence South 3 degrees 13 minutes 37 seconds West 1379.23 feet to the True Point of Beginning of the excepted tract herein described; thence South 52 degrees 56 minutes 09 seconds East 28.50 feet to the beginning of a curve concave to the North having a radius of 505.00 feet; thence Easterly 436.81 feet, along said curve to the left having a chord bearing South 77 degrees 42 minutes 56 seconds East 423.32 feet, to the beginning of a reverse curve concave to the Southwest having a radius of 64.00 feet; thence Southeasterly 94.09 feet, along said curve to the right having a chord bearing South 60 degrees 22 minutes 37 seconds East 85.84 feet, to the beginning of a compound curve concave to the Southwest having a radius of 1,761.00 feet; thence Southeasterly 296.33 feet along said curve to the right having a chord bearing South 13 degrees 26 minutes 18 seconds East 295.98 feet; thence South 36 degrees 38 minutes 27 seconds West 310.22 feet; thence North 53 degrees 21 minutes 33 seconds West 369.00 feet; thence South 35 degrees 46 minutes 12 seconds West 528.44 feet; thence North 90 degrees 00 minutes 00 seconds West 277.40 feet; thence North 53 degrees 07 minutes 48 seconds West 196.87 feet to the beginning of a non-tangent curve concave to the West having a radius of 1822.00 feet; thence Northerly 290.35 feet, along said curve to the left having a chord bearing North 07 degrees 57 minutes 42 seconds East 290.05 feet, to the beginning of a reverse curve concave to the East having a radius of 1751.00 feet; thence Northerly 415.55 feet, along said curve to the right having a chord bearing North 10 degrees 11 minutes 43 seconds East 414.58 feet; thence North 16 degrees 59 minutes 38 seconds East 98.18 feet to the beginning of a curve concave to the Southeast having a radius of 157.00 feet; thence Northeasterly 114.21 feet along said curve to the right having a chord bearing North 37 degrees 49 minutes 59 seconds East 111.70 feet: thence North 58 degrees 40 minutes 20 seconds East 66.52 feet to the beginning of a curve concave to the Southeast having a radius of 75.00 feet; thence Northeasterly 52.40 feet, along said curve to the right having a chord bearing North 78 degrees 41 minutes 20 seconds East 51.34 feet; thence South 81 degrees 17 minutes 41 seconds East 70.94 feet; thence South 75 degrees 15 minutes 19 seconds East 32.00 feet to the beginning of a curve concave to the South having a radius of 475.00 feet; thence Southeasterly 185.04 feet along said curve to the right having a chord bearing South 64 degrees 05 minutes 44 seconds East 183.87 feet; thence South 52 degrees 56 minutes 09 seconds East 76.24 feet to the True Point of Beginning of the tract herein described containing 802,136 square feet or 18.4145 acres, more or less.

Leaving a net area in Lot 1 of 2,343,255 square feet or 53.3957 acres, more or less.

is approved and designated by the First Amendment to the Bannister & I-435 Tax Increment Financing Plan as Redevelopment Project Area 1 (“Project Area 1”).

Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project Area 1. Pursuant to the TIF Act, as it may be amended from time to time and incorporated herein, after the total equalized assessed valuation of the taxable real property in Project Area 1 exceeds the certified total initial equalized assessed valuation of the taxable real property in Project Area 1, the ad valorem taxes, and payment in lieu of taxes, if any, arising from the levies upon the taxable real property in such project by taxing districts and tax rates determined in the manner provided in the TIF Act each year after the effective date of the ordinance until redevelopment project costs have been paid shall be divided as follows:

1. That portion of taxes levied upon each taxable lot, block, tract, or parcel of real property which is attributable to the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the area selected for the Project Area 1 shall be allocated to and, when collected, shall be paid by the Jackson County Collector and the City Treasurer to the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing;

2. Payments in lieu of taxes attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in the area selected for Project Area 1 over and above the initial equalized assessed value of each such unit of property in the area selected for Project Area 1 shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payments in lieu of taxes, which are necessary to the payment of Project Area 1 Costs within the Redevelopment Area, into a special fund called the "Special Allocation Fund" of the City for the purpose of paying Redevelopment Project Costs and obligations incurred in the payment thereof. Any payments in lieu of taxes which are not paid within sixty (60) days of the due date shall be deemed delinquent and shall be assessed a penalty of one percent (1%) per month.

Section 4. That in addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, fifty percent (50%) of the total additional revenue from taxes which are imposed by the City or taxing districts, and which are generated by economic activities within the area selected for Project Area 1 over the amount of such taxes generated by economic activities within such area in the calendar year prior to the passage of this ordinance, while tax increment financing remains in effect, but excluding certain taxes, fees and special assessments specifically identified by the Act, other than payments in lieu of taxes, shall be allocated to, and paid by the collecting officer to the City Treasurer or other designated financial officer of the City, who shall deposit such funds, which are necessary to the payment of Redevelopment Project Costs identified by the Redevelopment Plan, in a separate segregated account within the Special Allocation Fund for the purpose of paying Redevelopment Project Costs.

Section 5. That the City Clerk shall send a copy of this ordinance to the County Clerk and County Executive of Jackson County, Missouri.

_____________________________________________

Approved as to form and legality:

______________________________

Brian T. Rabineau

Assistant City Attorney