ORDINANCE
NO. 200205
Accepting the recommendations of the Tax Increment
Financing Commission as to the Fourth Amendment to the Platte Purchase
Development Plan; approving the Fourth Amendment; and directing the City Clerk
to send copies of this ordinance.
WHEREAS, pursuant to the Real Property Tax
Increment Allocation Redevelopment Act, Sections 99.800 to 99.865, RSMo., as
amended (the “Act”), the City Council of Kansas City, Missouri (the “City
Council”) 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repealed and amended in certain respects by Committee Substitute for Ordinance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, Ordinance No. 130986, passed on December 19, 2013, and
Committee Substitute for Ordinance No. 140823, As Amended, passed on June 18,
2015, created Tax Increment Financing Commission of Kansas City, Missouri (the
“Commission”); and
WHEREAS, on July 14, 2016, the City Council accepted the
recommendation of the Commission and passed Ordinance No. 160415 approving the
Platte Purchase Development Plan (the “Redevelopment Plan”) and designating a
Redevelopment Area; and
WHEREAS, the City Council has amended the Redevelopment
Plan three times; and
WHEREAS, a Fourth Amendment to the Redevelopment Plan
(“Fourth Amendment”) was proposed to the Commission and the Commission, having
been duly constituted and its members appointed, after proper notice was given,
met in public hearing, and, after receiving the comments of all interested
persons and taxing districts, closed the public hearing February 11, 2020, and
adopted Resolution No. 2-10-20 (“Resolution”) recommending approval of the
Fourth Amendment; and
WHEREAS, the proposed Fourth Amendment provides for
modifications to (1) the description of the public improvements contemplated by
the Plan, (2) the boundaries of the Redevelopment Area and Site Map, (3) the
Estimated Budget of Redevelopment Project Costs (4) the Sources and Uses
described by the Plan, (5) the Redevelopment Schedule and (6) such other
corresponding changes to Exhibits to the Plan that are consistent with the
foregoing modifications; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the recommendations of the Commission
concerning the Fourth Amendment (the “Fourth Amendment”) to the Platte Purchase
Development Plan (the “Redevelopment Plan”) are hereby accepted, and the Fourth
Amendment, a copy of which is attached hereto, is hereby approved.
Section 2. That all terms used in this ordinance, not
otherwise defined herein, shall be construed as defined in the Act.
Section 3. That the City Council hereby finds, in
connection with its consideration of the Fourth Amendment, that:
(a) The
Redevelopment Area described in the Redevelopment Plan, as amended by the
Fourth Amendment, is an economic development area and the redevelopment will
not be used solely for development of commercial businesses which unfairly
compete in the local economy and the Redevelopment Plan, as amended by the
Fourth Amendment, is in the public interest because it will discourage
commerce, industry or manufacturing from moving their operations to another
state; or result in increased employment in the municipality; or result in preservation
or enhancement of the tax base of the municipality.
(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, as amended by the
Fourth Amendment.
(c) The Redevelopment
Plan, as amended by the Fourth Amendment, conforms to the comprehensive plan
for the development of the City as a whole.
(d) The area selected
for the Redevelopment Projects include only those parcels of real property and
improvements thereon which will be directly and substantially benefited by the
improvements.
(e) The estimated
dates of completion of each respective Redevelopment Project and retirement of
obligations incurred to finance Redevelopment Project Costs, have been stated
in the Redevelopment Plan, as amended by the Fourth Amendment, and are not more
than 23 years from the passage of any ordinance approving a Redevelopment
Project authorized by the Redevelopment Plan.
(f) The Redevelopment
Plan, as amended by the Fourth Amendment, includes a plan for relocation
assistance for business and residences.
(g) A cost-benefit
analysis, in this case a tax impact analysis, showing the impact of the implementation
of the Redevelopment Plan, as amended by the Fourth Amendment, on each taxing
district at least partially within the boundaries of the Redevelopment Area has
been prepared in accordance with the Act and has not been modified by virtue of
the Fourth Amendment.
(h) The Redevelopment
Plan, as amended by the Fourth Amendment, does not include the initial
development or redevelopment of any gambling establishment.
Section 4. That the Commission is authorized to issue
obligations in one or more series of bonds secured by the Platte Purchase
Account of the Special Allocation Fund to finance Redevelopment Project Costs
identified by the Redevelopment Plan 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 take all such
further actions as are reasonably necessary to achieve the objectives of the
Redevelopment Plan pursuant to the power delegated to it by the City. Any
obligations issued to finance Redevelopment Project Costs shall contain a
recital that they are issued pursuant to Sections 99.800 to 99.865 of the Act,
which recital shall be conclusive evidence of their validity and of the regularity
of their issuance.
Section 5. That the City Council approves the pledge of all
funds that are deposited into the Platte Purchase 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
City Clerk shall transmit a copy of this ordinance to Platte County, Missouri.
_____________________________________________
Approved as to form and
legality:
______________________________
Katherine
Chandler
Assistant City Attorney