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repealed and amended in certain respects by Committee Substitute to Ordinance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