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Legislation #: 100236 Introduction Date: 3/25/2010
Type: Ordinance Effective Date: 4/18/2010
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission and approving the First Amendment to the Brywood Centre Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
3/23/2010 Filed by the Clerk's office
3/25/2010 Referred to Finance and Audit Committee
3/31/2010 Do Pass
4/1/2010 Assigned to Third Read Calendar
4/8/2010 Passed

View Attachments
FileTypeSizeDescription
100236.pdf Authenticated 185K AUTHENTICATED
brywood.PPTX Other 754K Brywood TIF attachment
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100236 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100236
00121307.XLS Other 42K 1st Amendment of The Brywood Centre TIF Plan Budget Exhibit
00121291.DOC TIF Plan 684K 1st Amendment of The Brywood Centre TIF Plan
00122192.XLS Other 47K 1st Amendment of The Brywood Centre TIF Plan Financial Fact Sheet
00122191.DOC Fact Sheet 41K 1st Amendment of The Brywood Centre TIF Plan Ordinance Fact Sheet
00122190.DOC Request for Ordinance 25K 1st Amendment of The Brywood Centre TIF Plan Request for Ordinance

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ORDINANCE NO. 100236

 

Accepting the recommendations of the Tax Increment Financing Commission and approving the First Amendment to the Brywood Centre Tax Increment Financing Plan.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended (the "Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing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, the Brywood Centre Tax Increment Financing Plan was approved by Committee Substitute for Ordinance No. 080718 on July 31, 2008 ("the Plan"); and

 

WHEREAS, the First Amendment modifies (a) the Project Area Plan, (b) the Estimated Redevelopment Costs and (c) the Redevelopment Schedule; 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 a number of separate Redevelopment Projects and the adoption of tax increment financing for each of the areas selected for such Redevelopment Projects; 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 on March 10, 2010, adopted its Resolution No. 3-2-10 (the “Resolution”) recommending to the City Council the approval of the Redevelopment Plan; and

 

WHEREAS, the Council desires to use 20% of the new tax increment generated by the projects in the Redevelopment Area for a housing/neighborhood fund; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendation of the Commission concerning the First Amendment to the Redevelopment Plan as set forth in the Resolution attached hereto as Exhibit "A", is hereby accepted and the First Amendment to the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B", is hereby approved and adopted.

 

Section 2. 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. In accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

 

(a) The First Amendment to 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 First Amendment to 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 First Amendment to the Redevelopment Plan;

 

(c) The First Amendment to the Redevelopment Plan conforms to FOCUS, together the comprehensive plan for the development of the City as a whole;

 

(d) The areas selected for First Amendment to the Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefited by the First Amendment to 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 First Amendment to 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 First Amendment to 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 First Amendment to the Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

 

(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 4. The City and/or the Commission is authorized to issue obligations in one or more series of bonds secured by the Brywood Centre Tax Increment Financing Plan 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 City and/or 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 in Ordinance No. 54556, as amended by Ordinance No. 911076 and Ordinance No. 100089. 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 5. Pursuant to the provisions of the First Amendment to the Redevelopment Plan, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the Brywood Centre Tax Increment Financing Plan 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 6. That the Council states its intent to use 20% of the new tax increment generated by the projects in the Redevelopment Area for a housing/neighborhood fund in the vicinity of the Redevelopment Area, subject to legal review. 

 

Section 7. When such Redevelopment Project Costs, including obligations financing Redevelopment Project Costs incurred under Section 99.800 to 99.865, have been paid, all surplus funds then remaining the special allocation fund shall be paid by the municipal treasurer to the county collector, who shall immediately thereafter pay such funds to the taxing districts in the area selected for a redevelopment project in the same manner and proportion as the most recent distribution by the collector to the affected districts of real property taxes from real property in the area selected for a redevelopment project.

 

 

_____________________________________________

 

Approved as to form and legality:

 

 

______________________________

Heather A. Brown

Assistant City Attorney