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Legislation #: 080722 Introduction Date: 7/17/2008
Type: Ordinance Effective Date: 11/28/2010
Sponsor: None
Title: Approving and designating Redevelopment Project 4 of the Brywood Centre Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.  

Legislation History
DateMinutesDescription
7/17/2008 Filed by the Clerk's office
7/17/2008 Referred to Finance and Audit Committee
7/23/2008 Hold Off Agenda
11/17/2010 Advance and Do Pass as a Committee Substitute, Debate
11/18/2010 Passed as Substituted

View Attachments
FileTypeSizeDescription
080722.pdf Authenticated 130K AUTHENTICATED
Advertise Notice 0K TIF Plan is on File with City Clerk
Plan Area Legal Description Project 4 (00100352).DOC Advertise Notice 29K Legal Description
Brywood Centre TIF Oridinance Fact Sheet-Project 4 (00100367).XLS Advertise Notice 63K Ordinance Fact Sheet
Ordinance Request Brywood Centre TIF Plan Project 4 (00100359).DOC Advertise Notice 26K Request for Ordinance

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 080722

Approving and designating Redevelopment Project 4 of the Brywood Centre 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  WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556, passed on November 24, 1982 and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and 

WHEREAS, on July 31, 2008, the City Council passed Committee Substitute for Ordinance No. 080718, which accepted the recommendations of the Commission as to the Brywood Centre 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 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. 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. The area selected for Redevelopment Project 4 legally described as follows: 

 

PROJECT AREA #4

 

Being Part of Lot 1, The Brywood Centre

 

All that Part of Lot 1, THE BRYWOOD CENTRE, being located in Kansas City, a subdivision of land in Kansas City and Raytown, all in the Northeast Quarter of Section 6, Township 48 North of the Base Line, Range 32 West of the Fifth Principal Meridian in Jackson County, Missouri being more particularly described as follows:

 

NOTE: This description is based on the plat of The Brywood Centre, as filed for record in Book 32 at Page 61.

 

Commencing at the Northwest corner of said Lot 1, said point lying on the Easterly right-of-way of Booth Avenue as established by the plat of Brywood Centre; thence South 02 degrees 06 minutes 55 seconds West 594.36 feet, along the West line of said Lot 1 to the most Southwesterly corner of said Lot 1; thence South 87 degrees 15 minutes 10 seconds East 79.71 feet, along the Southerly line of said Lot 1, to the point of beginning of the tract herein described; thence North 57 degrees 23 minutes 15 seconds East 25.90 feet; thence South 87 degrees 15 minutes 10 seconds East 256.70 feet; thence South 02 degrees 44 minutes 50 seconds West 159.99 feet to a point on the Southerly line of said Lot 1, said point also being on the Northerly right-of-way line of 63rd Street Trafficway, as now established; thence North 87 degrees 15 minutes 10 seconds West 177.82 feet, along said Southerly line and Northerly right-of-way line, to the Southwest corner of said Lot 1; thence North 31 degrees 50 minutes 42 seconds West 176.14 feet, along the Southwesterly line of said Lot 1, to the point of beginning, contain 37,040 square feet or 0.85 acres. Subject to survey and all easements and restrictions of record. 

is approved and designated as the Brywood Centre Tax Increment Financing Plan Redevelopment Project 4 (Project 4). 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project 4. After the total equalized assessed valuation of the taxable real property in Project 4 exceeds the certified total initial equalized assessed valuation of the taxable real property in Project 4, 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 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 area selected for the Project 4 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 4 over and above the initial equalized assessed value of each such unit of property in the area selected for Project 4 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 area selected for Project 4 over the amount of such taxes generated by economic activities within such area in the calendar year prior to the adoption of this ordinance, while tax increment financing remains in effect, in accordance with Section 99.845, RSMo, 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