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Legislation #: 200203 Introduction Date: 3/19/2020
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to and approving the Eighth Amendment to the Chouteau I-35 Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
3/17/2020 Filed by the Clerk's office
3/19/2020 Referred to Neighborhood Planning and Development Committee
3/25/2020 Advance and Do Pass, Debate
3/26/2020 Passed

View Attachments
FileTypeSizeDescription
200203.pdf Authenticated 132K Authenticated Ordinance
00217225.PPTX Other 5200K Power Point
00217248.PDF TIF Plan 11729K 8th Amendment
00216675.XLSX Fact Sheet 23K fact sheet
00216671.DOCX Other 23K Draft ordinance

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ORDINANCE NO. 200203

 

Accepting the recommendations of the Tax Increment Financing Commission as to and approving the Eighth Amendment to the Chouteau I-35 Tax Increment Financing Plan.

 

WHEREAS, the City Council by Ordinance No. 54556, passed on November 24, 1982 and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission") pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri (the "Act"); and

 

WHEREAS, on April 23, 1998, the City Council accepted the recommendations of the Commission, approved the Chouteau I-35 Tax Increment Financing Plan (the “Plan”) and designated a Redevelopment Area in Ordinance No. 980426; and  

 

WHEREAS, the Plan has previously been amended seven times; and

 

WHEREAS, an eighth amendment to the Plan (“Eighth 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 hearings; and

 

WHEREAS, the Eighth Amendment proposes to revise the Budget of Redevelopment Project Costs; add 3 public improvements; modify the development schedule; modify the sources and uses exhibit in the Plan; and modify the site plans, and was approved by the Commission on February 11, 2020 by adoption of Resolution No. 2-21-20; NOW, THEREFORE, 

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY: 

Section 1. That the recommendations of the Commission concerning the Eighth Amendment to the Chouteau I-35 Tax Increment Financing Plan are hereby accepted and the Eighth Amendment, as presented to and recommended by the Commission and attached hereto, is hereby approved and adopted as valid.

 

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 that good cause has been shown for the amendment of the Plan and that the findings of the Council with regard to each of the previous amendments are not affected by the Eighth Amendment and apply equally to the Eighth Amendment.

 

Section 4. That in accordance with the recommendations of the Commission, the City Council hereby finds that the Eighth Amendment does not alter the previous findings of the City Council listed below

 

(a) The Amended Redevelopment Area as a whole is a conservation area;

 

(b) The Redevelopment Area as a whole 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; 

 

(c) The Redevelopment Area includes only those parcels of real property and improvements thereon which will be directly and substantially benefited by the proposed Redevelopment Projects; 

 

(d) The Eighth Amendment to the Redevelopment Plan conforms to the comprehensive plan for the development of the City as a whole; 

 

(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 Eighth Amendment to the Redevelopment Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Amended Redevelopment Area; 

 

(f) The Redevelopment Plan, as amended by the Eighth Amendment includes a plan for relocation assistance for businesses and residences; 

 

(g) A cost benefit analysis showing the economic impact of the Eighth Amendment to the Redevelopment Plan on each taxing district at least partially within the boundaries of the Redevelopment Area has been prepared; 

 

(h)   The Eighth Amendment to the Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

 

(i) A conservation study has been completed and the findings of such study satisfy the requirements provided under subdivision (1) of Section 99.805, RSMo. 

 

Section 5. That the Commission is authorized to issue obligations in one or more series of bonds secured by the Chouteau I-35 Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Amended 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 Commission determines, to enter into such contracts and take all such further actions as are reasonably necessary to achieve the objectives of the Eighth Amendment to the Redevelopment Plan pursuant to the power delegated to it. 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 6. That pursuant to the provisions of the Eighth Amendment to the Redevelopment Plan, the City Council approves the pledge of all funds that are deposited into the Chouteau I-35 Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Amended Redevelopment Area and authorizes the Commission to pledge such funds on its behalf.

 

Section 7. Upon approval of the, Eighth Amendment to the Plan, $143,000 of PILOTs generated by Redevelopment Projects 3 and 4 and on deposit in the Special Allocation Fund shall be deemed surplus and shall be distributed to the Taxing Districts in accordance with the Act. Additionally, all PILOTS that may be generated by Redevelopment Projects 3 and 4, beginning in 2020 and deposited into the Special Allocation Fund shall be deemed surplus and shall be distributed to the Tax Districts in accordance with the TIF Act.

 

_________________________________________________

 

Approved as to form and legality:

 

 

_______________________________

Katherine Chandler

Assistant City Attorney