ORDINANCE NO. 911391

Approving and designating Phase VIII of the Briarcliff West Tax Increment Financing Plan as a Redevelopment Project Area and adopting Tax Increment Financing therein.

WHEREAS, the City Council of Kansas City, Missouri (the "City Council"), by Ordinance No. 54556 adopted on November 24, 1982, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, on April 11, 1990, the Commission adopted a resolution recommending to the City Council the adoption of a redevelopment plan entitled the "Briarcliff West Tax Increment Financing Plan" (the "Redevelopment Plan"); and

WHEREAS, on April 26, 1990, said date being within 14 to 90 days after the April 11, 1990 Commission hearing, Ordinance No. 65497 approving the Redevelopment Plan and Ordinance No. 900102 approving and designating Phase V of the Redevelopment Plan as a separate Redevelopment Project Area and adopting tax increment financing therein were introduced in the City Council; and

WHEREAS, on May 3, 1990, the City Council passed Ordinance No. 65497, which accepted the recommendations of the Commission as to the Redevelopment Plan; approved the Redevelopment Plan; declared the Redevelopment Plan Area and each proposed Redevelopment Project Area as blighted; approved Rock Quarry Redevelopment Corporation d/b/a Briarcliff West as the Developer; approved an agreement with the Commission; and authorized the execution of a development contract; and

WHEREAS, the Redevelopment Plan and Ordinance No. 65497 contemplate the designation of each phase of the Redevelopment Plan as a separate Redevelopment Project Area at the discretion of the City Council and the adoption of Tax Increment Financing therein; and

WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 900099 and Committee Substitutes for Ordinance Nos. 900100 and 900101, adopted on September 19, 1991, approved and designated Phases I, II, III, and IV of the Redevelopment Plan as Redevelopment Project Areas and adopted tax increment financing therein; and

WHEREAS, Ordinance No. 900105, approving and designating Phase VIII as a Redevelopment Project Area and adopting tax increment financing therein has not been acted upon and is being held off the docket of the City Council; and

WHEREAS, on September 11, 1991, the Commission adopted a resolution recommending to the City Council the approval of an amendment to the Redevelopment Plan (the "First Amended Redevelopment Plan"); and

WHEREAS, on _________________________, 1991, the City Council passed Ordinance No. ____________, which accepted the recommendations of the Commission as to the First Amended Redevelopment Plan; approved the First Amended Redevelopment Plan; declared the Redevelopment Area and each proposed Redevelopment Project Areas as blighted; approved Missouri Rental Machinery Company d/b/a Briarcliff West Development Company as the developer; approved an agreement with the Commission; and authorized the execution of a First Amended Development Contract; and

WHEREAS, the First Amended Redevelopment Plan and Ordinance No. _____________ contemplate the designation of the remaining phases of the First Amended Redevelopment Plan as separate Redevelopment Project Areas and the adoption of tax increment financing therein at the discretion of the City Council; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. 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.

Section 2. The provisions of Ordinance No. 900105 are incorporated herein as if fully set forth.

Section 3. The area set forth in the First Amended Redevelopment Plan as Phase VIII and legally described as follows:

PHASE VIII

A tract of land in the Southeast quarter and fractional South- west quarter of Section 3, Township 50, Range 33 and the Northeast quarter and fractional Northwest quarter of Section 10, Township 50, Range 33, Kansas City, Clay County, Missouri, being bounded and described as follows: Commencing at the Southeast corner of the fractional Southwest quarter of said Section 3; thence North 0 37'03" East, along the East line of said fractional Southwest quarter, 240.03 feet; thence North 89 22'57" West, 92.99 feet to the True Point of Beginning of the tract to be herein described; thence South 34 00'00" East, 470.00 feet; thence South 36 13'54" West, 285.00 feet; thence North 53 46'06" West, 670.00 feet; thence Northeasterly, on a curve to the Left, having a radius of 2890.79 feet, an arc distance of 348.61 feet; thence South 76 50'00" East, 243.97 feet to the True Point of Beginning. Containing 5.7273 acres, more or less. Subject to any and all easements and restrictions of record.

A tract of land in the fractional Southwest quarter of Section 3, Township 50, Range 33, Kansas City, Clay County, Missouri, being bounded and described as follows: Commencing at the Southwest corner of the fractional Southwest quarter of said Section 3, said point being also a point on the County line between Platte and Clay Counties; thence South 88 58'51" East, along the South line of said fractional Southwest quarter, 472.32 feet to a point on the Northerly Right of Way line of Missouri State Highway No. 9, as now established; thence Southeasterly, along said Right of Way line, on a curve to the Right, having a radius of 2831.90 feet, an arc distance of 164.57 feet; thence North 36 30'00" East, 310.00 feet to the True Point of Beginning of the tract to be herein described; thence North 36 30'00" East, 420.25 feet; thence South 33 07'14" East, 135.49 feet; thence Southeasterly, on a curve to the Left, tangent to the last described course, having a radius of 458.00 feet, an arc distance of 67.08 feet; thence Southerly, on a curve to the Right, having a common tangent with the last described course, and a radius of 15.00 feet, an arc distance of 21.69 feet; thence Southwesterly, on a curve to the Left, having a common tangent with the last described course, and a radius of 1458.39 feet, an arc distance of 339.39 feet; thence North 53 30'00" West, 214.10 feet to the True Point of Beginning. Containing 1.7792 acres, more or less. Subject to any and all easements and restrictions of record.

is hereby designed as a blighted area and is further approved and designated as the Phase VIII Redevelopment Project Area.

Section 4. All of the Redevelopment Projects contained within the Phase VIII Redevelopment Project Area are hereby approved.

Section 5. Tax increment allocation financing is hereby adopted for the Phase VIII Redevelopment Project Area. After the total equalized assessed valuation of the taxable real property in the Phase VIII Redevelopment Project Area exceeds the certified total initial equalized assessed value of all taxable real property in such Redevelopment Project Area, the ad valorem taxes and payments in lieu of taxes, if any, arising from the levies upon taxable real property in such Redevelopment Project Area by taxing districts and tax rates determined in the manner provided in Subsection 2 of Section 99.855, RSMo, each year after the effective date of this Ordinance until redevelopment project costs and redevelopment costs have been paid shall be divided as follows:

(1) That portion of taxes levied upon each taxable lot,

block, 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 Phase VIII Redevelopment Project Area shall be allocated to and, when collected, shall be paid by the Clay 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 Phase VIII Redevelopment Project Area over and above the initial equalized assessed value of each such unit of property in the Phase VIII Redevelopments Project Area shall be allocated to and, when collected, shall be paid to the City Treasurer, who shall deposit such payments in lieu of taxes into the Special Allocation Fund of the City for the purpose of paying redevelopment project costs and obligations incurred in the payment thereof.

Section 6. In addition to the payments in lieu of taxes described above, and subject to annual appropriation, fifty percent (50%) of the total additional revenue from taxes which are imposed by the municipality or other taxing districts, and which are generated by economic activities within the Phase V Redevelopment Project Area over the amount of such taxes generated by economic activities within the Phase V Redevelopment Project Area in the calendar year prior to the adoption of the Phase V Redevelopment Project Area by ordinance, while tax increment financing remains in effect, but excluding taxes imposed on sales or 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 treasurer or other designated financial officer of the municipality, who shall deposit such funds in a separate segregated account within the Briarcliff West Account of the special allocation fund for the retirement of obligations or payment of Redevelopment Project Costs and Redevelopment Costs as defined in the First Amended Redevelopment Plan.

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Approved as to form and legality:

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Assistant City Attorney