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Legislation #: 150015 Introduction Date: 1/15/2015
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting and approving the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the termination of the Searcy Creek Tax Increment Financing Plan and the designation of each of the Redevelopment Project Areas 1, 2 and 3; terminating the Searcy Creek Tax Increment Financing Plan; declaring as surplus those funds within the special allocation funds established in connection with the Searcy Creek Tax Increment Financing Plan; authorizing the distribution of such surplus funds; authorizing the City Manager to execute an Intergovernmental Agreement for the purpose of utilizing a portion of the surplus funds to make certain traffic signal, sidewalk, and roadway improvements; estimating and appropriating the sum of $1,057,543 for the purpose of funding those public improvements; and providing for an effective date.

Legislation History
DateMinutesDescription
1/13/2015 Filed by the Clerk's office
1/15/2015 Referred to Planning, Zoning & Economic Development Committee
1/21/2015 Hold On Agenda (1/28/2015)
1/28/2015 Do Pass as a Committee Substitute
1/29/2015 Assigned Third Read Calendar as Substituted
2/5/2015 Passed as Substituted

View Attachments
FileTypeSizeDescription
150015.pdf Authenticated 262K Authenticated
150015 cs Compared.pdf Compared Version 170K Compared Version
Searcy Creek TIF Termination - Ordinance Fact Sheet (00173371xA7821).pdf Fact Sheet 372K Searcy Creek TIF Plan - Termination

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 150015

 

Accepting and approving the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the termination of the Searcy Creek Tax Increment Financing Plan and the designation of each of the Redevelopment Project Areas 1, 2 and 3; terminating the Searcy Creek Tax Increment Financing Plan; declaring as surplus those funds within the special allocation funds established in connection with the Searcy Creek Tax Increment Financing Plan; authorizing the distribution of such surplus funds; authorizing the City Manager to execute an Intergovernmental Agreement for the purpose of utilizing a portion of the surplus funds to make certain traffic signal, sidewalk, and roadway improvements; estimating and appropriating the sum of $1,057,543 for the purpose of funding those public improvements; and providing for an effective date.

 

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 “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, Ordinance No. 100089, 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, on March 11, 1993, the City Council passed Ordinance No. 930207, which approved the Searcy Creek Tax Increment Financing Plan, and was subsequently amended by the City Council with passage of Ordinance No. 060068 on February 2, 2006 (collectively, the “Redevelopment Plan”) ; and

 

WHEREAS, the Redevelopment Plan contemplated the approval and designation of three 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 November 12, 2014, and adopted its Resolution No. 11-C4B-14 (the “Resolution”) recommending to the City Council the termination of the Redevelopment Plan and the termination of the designation of Redevelopment Project Areas 1, 2 and 3, which shall require that all funds on deposit in the Special Allocation Fund(s) established in connection with such Redevelopment Project Areas be declared surplus and distributed to the affected taxing districts; and

 

WHEREAS, the City, County of Clay County, Missouri (“County”), and the North Kansas City School District No. 74 (“School District”), are among the taxing districts affected by the termination of the Redevelopment Plan and are entitled to a distribution of surplus funds on deposit in the Special Allocation Fund(s), but have agreed that their respective shares of such distribution should instead be transferred in their entirety to the City to be utilized by the City to fund certain public improvements as more fully set forth in the Intergovernmental Agreement authorized herein; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Searcy Creek Tax Increment Financing Plan is hereby terminated.

 

Section 2. That the designation of Redevelopment Project Areas 1, 2 and 3 of the Searcy Creek Tax Increment Financing Plan, as contemplated by Ordinance Nos. 930208, 930209 and 930210, respectively, is hereby terminated.

 

Section 3. That all funds within any Special Allocation Fund(s) established in connection with the Redevelopment Project Areas of the Searcy Creek Tax Increment Financing Plan following the deduction of existing and anticipated administrative costs and expenses of the Commission in connection with processing the termination of the Searcy Creek Tax Increment Financing Plan are hereby declared as surplus and shall be distributed in accordance with the Act and the provisions of this ordinance.

 

Section 4. That surplus funds in the amount of $1,057,543 shall be distributed by the Commission to the City and utilized by the City in accordance with the terms of an Intergovernmental Agreement by and between the City, County and School District, which agreement is approved in substantial form to that attached hereto and which the City Manager is hereby authorized to execute.

 

Section 5. That surplus funds in excess of $1,057,543 shall be remitted by the Commission to the affected taxing districts, with the exception of the City, County and School District, in accordance with Section 99.850, RSMo.

 

Section 6. That following the distribution of the surplus funds and the receipt by the City of $1,057,543, the special allocation funds for the Searcy Creek Tax Increment Financing Plan are dissolved.

 

Section 7. That revenue in the following account is estimated in the following amount:

 

15-3090-890001-485380-89009996 Contribution from TIF

Commission $1,057,543.00

 

Section 8. That the sum of $1,057,543.00 is appropriated from the Unappropriated Fund Balance of the Capital Improvement Fund to the following accounts:

 

15-3090-897731-B-89004736 Winnetonka HS Signal Relocate $ 50,000.00

15-3090-898071-B-89060443 NKC School Sidewalks 250,000.00

15-3090-898101-B-89008266 Parvin Rd. 757,543.00

$1,057,543.00

 

Section 9. That the provisions of this ordinance shall not take effect until ten days following passage of this ordinance or until such date as the Intergovernmental Agreement authorized herein shall have been fully executed, whichever shall last occur.

 

Section 10.  That the Director of Finance is hereby authorized to close project accounts upon applicable project completion and transfer any remaining fund balances to one or more of the remaining project accounts identified in Section 8.

 

___________________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

______________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

______________________________

Brian T. Rabineau

Assistant City Attorney