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Legislation #: 050259 Introduction Date: 3/3/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Redevelopment Project 2 of the Blue Ridge Mall Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor. 

Legislation History
DateMinutesDescription
3/2/2005 Filed by the Clerk's office
3/3/2005 Referred to Planning, Zoning & Economic Development Committee
3/9/2005 Hold Off Agenda
10/25/2006 Advance and Do Pass, Debate
10/26/2006 Passed

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050259.pdf Authenticated 261K Authenticated
Blue Ridge Mall Project 2 Ordinance (00045503).DOC Fact Sheet 26K fact sheet

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ORDINANCE NO. 050259

 

Approving and designating Redevelopment Project 2 of the Blue Ridge Mall Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor. 

 

  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, on February 24, 2005, the City Council passed Ordinance No. 041238, which accepted the recommendations of the Commission as to the Blue Ridge Mall Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a blighted area; and 

 

WHEREAS, the Redevelopment Plan and ordinance contemplate the implementation of the Redevelopment Plan through 6 Redevelopment Projects described in the Redevelopment Plan and the adoption of tax increment financing in the areas selected for such Redevelopment Projects; NOW, THEREFORE, 

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY: 

 

Section 1. 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. 

 

Section 2. Redevelopment Project 2 is hereby approved, and the area selected for the Redevelopment Project legally described as follows:

 

A portion of Lots 6, 7, 8, 9, 14 and 15, OTTS PLAT, a subdivision of land in the Cities of Kansas City, and Independence, all in Jackson County, Missouri, according to the recorded plat thereof, the parcel of land to be herein described lies wholly within said City of Kansas City, being located South of U.S. Interstate Highway Route No. 70, East of Sterling Avenue and North of 43rd Street, as said Highway, Avenue and Street are each now established in the Southeast Quarter of the Southeast Quarter of Section 21, Township 49 North, Range 32 West, being more particularly described as follows

 

Beginning at the point of intersection of the Easterly right-of-way line of said Sterling Avenue with the Northerly right-of-way line of said 43rd Street, said point being 50 feet East of the Westerly line of said Lot 15 and the Westerly line of said Quarter, Quarter Section as measured perpendicular to each Westerly line thereof, said Point of Beginning being also 40 feet North of the Southerly line of said Lot 15 and the Southerly line of said Quarter, Quarter Section as measured perpendicular to each Southerly line thereof; thence North 01 degree 59 minutes 11 seconds East along the Easterly right-of-way line of said Sterling Avenue, along a line 50 feet East of and parallel with the common Westerly lines of said Lot 15 and said Quarter, Quarter Section, a distance of 1.006.17 feet, more or less, to the point of intersection with the Southerly right-of-way line of said U.S. Interstate Highway Route No. 70; thence South 87 degrees 56 minutes 02 seconds East along said Southerly right-of-way line, a distance of 829.69 feet, more or less, to a point 112.09 feet South of the survey centerline of said U.S. Interstate Highway Route No. 70 at Station 460+76.17; thence South 78 degrees 49 minutes 36 seconds East along said Southerly right-of-way line, a distance of 39.46 feet; thence South 02 degrees 46 minutes 30 seconds West, no longer along said Southerly right-of-way line, a distance of 1,039.45 feet, more or less, to a point on the Northerly right-of-way line of said 43rd Street, said point being 20 feet North of the Southerly line of said Lot 6 and the Southerly line of said Quarter, Quarter Section, as measured perpendicular to each Southerly line thereof; thence North 86 degrees 37 minutes 51 seconds West along the Northerly right-of-way line of said 43rd Street, along a line 20 feet North of and parallel with the common Southerly line of said Lot 6 and the Southerly line of said Quarter, Quarter Section, a distance of 119.59 feet, more or less, to an angle point in said Northerly right-of-way line; thence North 77 degrees 34 minutes 30 seconds West, continuing along the Northerly right-of-way line of said 43rd Street, a distance of 127.07 feet, more or less, to an angle point in said Northerly right-of-way line, said point being on the West line of said Lot 6 and 40 feet North of the Southerly line of said Lot 6 and the Southerly line of said Quarter, Quarter Section, as measured perpendicular to each Southerly line thereof; thence North 86 degrees 37 minutes 51 seconds West along the Northerly right-of-way line of said 43rd Street, along a line 40 feet North of and parallel with the common Southerly line of said Lots 14 and 15 and the Southerly line of said Quarter, Quarter Section, a distance of 609.99 feet, more or less, to the Point of Beginning. Containing 878,953 square feet or 20.188 acres, more or less.

 

is approved and designated as the Blue Ridge Mall Tax Increment Financing Plan Redevelopment Project 2 (the Redevelopment Project Area). 

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the Redevelopment Project Area 2. After the total equalized assessed valuation of the taxable real property in Redevelopment Project Area 2 exceeds the certified total initial equalized assessed valuation of the taxable real property in Redevelopment Project Area 2, the ad valorem taxes, and payment in lieu of taxes, if any, arising from the levies upon the taxable real property in such Redevelopment Project Area by taxing districts and tax rates determined in the manner provided in subsection 2 of Section 99.855 each year after the effective date of the ordinance until redevelopment 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 Redevelopment Project Area 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 Redevelopment Project Area over and above the initial equalized assessed value of each such unit of property in the Redevelopment Project Area shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payment in lieu of taxes 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. 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 Redevelopment Project Area over the amount of such taxes generated by economic activities within such Redevelopment Project Area in the calendar year prior to the adoption of this ordinance, while tax increment financing remains in effect, but excluding taxes imposed on sales of charges for sleeping rooms paid by transient guests of hotels and motels, licenses, fees or special assessments and personal property taxes, 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 in a separate segregated account within the Special Allocation Fund. 

 

_____________________________________________

 

Approved as to form and legality: 

 

 

______________________________

Heather A. Brown

Assistant City Attorney