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Legislation #: 050776 Introduction Date: 6/23/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to the West Edge Tax Increment Financing Plan; approving the First Amendment to the West Edge Tax Increment Financing Plan; amending Ordinance No. 030397 by repealing Section 4 and enacting a new Section 4, changing the designation of the area from “blighted” to “conservation”; repealing Ordinance No. 030398; approving and designating Redevelopment Project 1 of the West Edge Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefore; approving and designating Redevelopment Project 4 of the West Edge Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor; and establishing an effective date.

Legislation History
DateMinutesDescription
6/23/2005 Filed by the Clerk's office
6/23/2005 Referred to Planning, Zoning & Economic Development Committee
6/29/2005 Advance and Do Pass as a Committee Substitute, Debate
6/30/2005 Passed as Substituted

View Attachments
FileTypeSizeDescription
050776.pdf Authenticated 415K Authenticated
1st amendment to West Edge TIF (00050160).DOC Other 121K 1st amendment
Staff report--West Edge TIF (00050161).DOC Staff Report 45K staff report
00050088.DOC Advertise Notice 44K ord. request
West Edge TIF--Ordinance fact sheet (00050090).XLS Fact Sheet 35K fact sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 050776

 

Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to the West Edge Tax Increment Financing Plan; approving the First Amendment to the West Edge Tax Increment Financing Plan; amending Ordinance No. 030397 by repealing Section 4 and enacting a new Section 4, changing the designation of the area from blighted to conservation; repealing Ordinance No. 030398; approving and designating Redevelopment Project 1 of the West Edge Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefore; approving and designating Redevelopment Project 4 of the West Edge Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor; and establishing an effective date.

 

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 April 17, 2003, the City Council passed Ordinance No. 030397 which accepted the recommendations of the Commission as to the West Edge Tax Increment Financing Plan (the Redevelopment Plan);

 

WHEREAS, a first amendment to the Redevelopment Plan entitled the First Amendment to the West Edge Tax Increment Financing Plan (the First Amendment) was proposed to the Commission; and

 

WHEREAS, said 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, closed said public hearing on June 8, 2005, adopted Resolution No. 06-11-05 (the Resolution) recommending that the City Council approve the First Amendment; and

 

WHEREAS, the First Amendment (1) terminates the existing Project Area 1; (2) adds a new Project Area 1 to provide for approximately 228,000 square feet of class A office space (which includes approximately 203,000 square feet of occupied office space, an eight-floor atrium, an approximately 261-seat auditorium, and an icon museum) and approximately 26,785 square feet of retail space; (3) adds a new Project Area 4 to provide for a 100-135 room boutique hotel and approximately 9,100 square feet of retail space; (4) provides for an approximately 1056-space underground parking garage for Project Areas 1 and 4 as well as for use by the surrounding neighborhoods; and (5) revises the budget and other information within the plan that are inconsistent with the First Amendment; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendations of the Commission concerning the First Amendment as set forth in the Resolution attached hereto as Exhibit A are hereby accepted and the First Amendment, a copy of which is attached hereto as Exhibit B, is hereby approved and adopted as valid and the Redevelopment Projects contained therein is hereby authorized.

 

Section 2. All terms used in this ordinance, not otherwise defined herein, shall be construed as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the Act).

 

Section 3. The Council hereby finds that:

 

(a) Good cause has been shown for amendment of the Redevelopment Plan, and that the findings of the Council in Ordinance No. 030397 are not affected by the First Amendment and apply equally to the First Amendment;

 

(b) The Redevelopment Area is a conservation area, as a whole, and 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, as amended, and the First Amendment;

 

(c) The Redevelopment Plan, as amended, confirms to 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 therein 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, as amended, 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 First Amendment on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act;

 

(h) The First Amendment does not include the initial development or redevelopment of any gambling establishment.

 

Section 4. The Commission is authorized to issue obligations in one or more series of bonds secured by the West Edge Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area, as amended, 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 stake all such further actions as are reasonably necessary to achieve the objectives of the Redevelopment Plan, as amended, 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 and 99.865, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.

 

Section 5. Pursuant to the provisions of the Redevelopment Plan, as amended the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the West Edge Account of the Special Association Fund to the payment of Redevelopment Project Costs within the Redevelopment Area, as amended, and authorizes the Commission to pledge such funds on its behalf.

 

Section 6. That Ordinance No. 030397 is hereby amended by repealing Section 4 and enacting a new Section 4, to read as follows:

 

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 conservation area, to wit: the area contains structures which are dilapidated, obsolete and deteriorated and are not up to current building code; there is a lack of ventilation, light or sanitation and depreciation of physical maintenance. There is standing water in the underground parking structure, a roof on the parking structure is in significant disrepair and leaking extensively; none of the apartment buildings are equipped with fire sprinklers; and there is exposed wiring in the basements; 

 

(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 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 7. That Ordinance No. 030398, approving Redevelopment Project 1 (as previously described prior to the First Amendment) is hereby repealed.

Section 8. The area selected for Redevelopment Project 1 legally described as follows:

 

Commencing at the intersection of the center line of 48th Street, as it now exists, and the center line of Roanoke Parkway, as it now exists; thence south along the center line of Roanoke Parkway a distance of 204.5 feet then west along a line parallel with 48th Street to the center line of Belleview Avenue, as it now exists; thence north along the centerline of Belleview Avenue to its intersection with the center line of 48th Street; thence east along the center line of 48th Street to the Point of Beginning.

 

 is approved and designated as the West Edge Increment Financing Plan Redevelopment Project 1 ("Project 1").

 

Section 9. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project 1. After the total equalized assessed valuation of the taxable real property in Project 1 exceeds the certified total initial equalized assessed valuation of the taxable real property in Project 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 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 Project 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 1 over and above the initial equalized assessed value of each such unit of property in the area selected for Project 1 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 10. In addition to the payments in lieu of taxes described in subsection 2 of Section 9 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 1 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, 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.

 

Section 11. The area selected for Redevelopment Project 4 legally described as follows:

 

 Commencing at the intersection of the center line of Roanoke Parkway and the easterly extension of the north lot line of Lot 6, Block 4, PARK MANOR; thence west along the north lot line and its easterly extension of Lot 6, Block 4, PARK MANOR to the northwest corner of Lot 6, Block 4, PARK MANOR; thence southeasterly along the westerly lot line of Lot 6, Block 4, PARK MANOR and its extension to its intersection with the center line of Ward Parkway, as it now exists; thence along the center line of Ward Parkway to its intersection with the center line of Belleview, as it now exists; thence north along the center line of Belleview to a point that is 204.5 feet south of the center line of 48th Street, as it now exists; thence east along a line parallel with 48th Street to the center line of Roanoke Parkway; thence south along the center line of Roanoke Parkway to the Point of Beginning.

 

is approved and designated as the West Edge Increment Financing Plan Redevelopment Project 4 ("Project 4").

 

Section 12. 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 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 13. In addition to the payments in lieu of taxes described in subsection 2 of Section 12 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, 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.

 

Section 14. That this ordinance will not take effect until (1) the adoption of a resolution by the Council, amending the Plaza Urban Design and Development Plan (the Plan) by deleting the following language currently in the Plan:

 

Accordingly, higher densities and taller buildings should be placed along the Roanoke Parkway frontage and there should be a transition to lower density and shorter building to the west, closer to the residential uses.

 

and revising or deleting associated text as necessary and (2) the passage of an ordinance approving the URD plan amendment.

 

______________________________________________________

 

Approved as to form and legality:

 

 

________________________________

Heather A. Brown

Assistant City Attorney