ORDINANCE NO. 060979
Accepting the recommendations of
the Tax Increment Financing Commission as to the Second Amendment to the
Country Club Plaza Tax Increment Financing Plan; approving the Second Amendment
to the Country Club Plaza Tax Increment Financing Plan.
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 27, 2004, the City Council passed Ordinance No. 970374, which accepted the
recommendations of the Commission as to the Country Club Plaza Tax
Increment Financing Plan (the Redevelopment Plan) and designated the
Redevelopment Area therein to be a blighted area; and
WHEREAS on April 7, 2005, the City Council passed Ordinance No. 050351 which accepted the
recommendations of the Commission as to the First Amendment to the Country Club
Plaza Tax Increment Financing Plan (the First Amendment); and
WHEREAS, a
second amendment to the Redevelopment Plan entitled the Second Amendment to the
Country Club Plaza Tax Increment Financing Plan (the Second 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 July 12, 2006, adopted Resolution No. 7-5-06 (the Resolution) recommending that the City Council approve the Second Amendment; and
WHEREAS, the
Second Amendment provides for the estimated redevelopment project costs to
accurately reflect current estimates and the inclusion of a budget line item
for interest expense; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. The
recommendations of the Commission concerning the Second Amendment as set forth
in the Resolution attached hereto as Exhibit A are hereby accepted and the
Second Amendment, a copy of which is attached hereto as Exhibit B, is hereby
approved and adopted as valid and the Redevelopment Project 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 Nos. 970374 and 050351
with respect to the Redevelopment Plan are not affected by the Second Amendment
and apply equally to the Second Amendment;
(b) The Redevelopment Area, as amended, 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
Second 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, as amended;
(f) A plan has been developed for relocation assistance for
businesses and residences;
(g) A cost benefit analysis showing the impact of the Second
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 Second 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 Country Club Plaza 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 Country Club Plaza 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.
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Approved as to form and legality:
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Heather A. Brown
Assistant City Attorney