ORDINANCE NO. 970382
Approving and designating Project 8 (Kirkwood) of the
Country Club Plaza Tax Increment Financing Plan as a Redevelopment Project and
adopting tax increment financing therein.
WHEREAS, the City Council of Kansas City, Missouri
by Ordinance No. 54556 passed on November 24, 1982, and thereafter amended in
certain respects by Ordinance No. 911076 passed on August 29, 1991, created the
Tax Increment Financing Commission of Kansas City, Missouri (the
"Commission"); and
WHEREAS, on _____________, 1997, the City Council
passed Ordinance No. 970374, which approved the Country Club Plaza Tax
Increment Financing Plan ("Redevelopment Plan") and designated the
Redevelopment Area as a conservation area; and
WHEREAS, the Redevelopment Plan and Ordinance
contemplate the implementation of the Redevelopment Plan through nine separate
Redevelopment Projects and the adoption of tax increment financing in each of
the areas selected for such Redevelopment Projects; 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 area selected for Project 8
(Kirkwood), legally described as follows:
All of Block E, except Lots 1, 2, 3, 4, 5, 11, 12,
23 and 24, all of Block F and all of Lots 1 through 12, Block G, BISMARK
PLACE, a subdivision, according to the recorded plat thereof, together
with portions of 49th. Street, 50th. Street, Wornall Road, Central Street,
Wyandotte Street as said streets and road are now established and other lands,
all in the West Half of the Southwest Quarter of Section 29, Township 49,
Range 33, in Kansas City, Jackson County, Missouri, being more
particularly described as follows: Beginning at the Southwest corner of
Lot 5, Block E of said BISMARK PLACE, being also a point on the East right-of-way
line of Wornall Road, as now established; thence North 8725'22"
West, 30.00 feet to a point on the West line of Southwest Quarter of said
Southwest Quarter; thence South 234'38" West along said West line, a
distance of 373.72 feet to a point of intersection with the centerline of
said 50th. Street; thence South 8704'13" East along said centerline,
661.04 feet to a jog in said centerline and a point on the centerline of
said Wyandotte Street produced South; thence South 236'20" West along
said centerline and along said jog, 21.43 feet (22.00 feet, plat); thence
South 8707'13" East along the centerline of said 50th. Street,
165.92 feet to a point of intersection with the prolongation South of the
East line of Lots 1 through 12 in said Block G; thence North 232'41"
East along said prolongation and along the East line of said Lot 12, a
distance of 30.00 feet to a point which is 5.00 feet North of the
Southeast corner thereof, said point being also on the West line of Block
2, BOARD OF TRADE CENTER, a subdivision in said City, County and State,
according to the recorded plat thereof, being also a point which is 0.12 feet
North of the Southwest corner thereof; thence continuing North 232'41"
East along said West line and along the East line of Lots 12 through 1 in
said Block G, a distance of 543.02 feet, to a point which is 22.00 feet
South of the North line of said Southwest Quarter, Quarter Section, being
also the Northwest corner of said Block 2, BOARD OF TRADE; thence
continuing North 232'41" East, 40.50 feet to a point on the
centerline of 49th. Street, as now established; thence the following
courses and distances along said centerline; thence North 8717'55"
West, 133.65 feet; thence Northwesterly along a curve to the right, tangent to
the last described course, having a radius of 649.90 feet and a central
angle of 809'13", an arc distance of 92.49 feet; thence North
7908'42" West, 182.99 feet; thence Westerly and Southwesterly along
a curve to the left, tangent to the last described course, having a radius
of 159.92 feet and a central angle of 2214'49", an arc distance of 62.09
feet; thence South 7836'29" West, tangent to the last described
curve, 146.97 feet; thence Southwesterly along a curve to the right,
tangent to the last described course, having a radius of 400 feet and a
central angle of 777'40", an arc distance of 50.93 feet to a point of
intersection with the Northerly prolongation of the East line of Lots 1-5,
inclusive of said Block E; thence South 232'21" West along said
prolongation, 27.85 feet to the Northeast corner of said Lot 1; thence
continuing South 232'21" West along the East line of said Lots 1 through
5, Block E, a distance of 249.34 feet (250.00 feet, plat) to the Southeast
corner of said Lot 5; thence North 8717'06" West along the South
line of said Lot 5, 135.52 feet to the point of beginning. Less and except
Lots 11, 12, 23 and 24, Block E, BISMARK PLACE and except that part of
said Blocks that are now taken for right-of-way.
is approved and designated as Project 8 (Kirkwood).
Section 3. Tax increment allocation financing is
hereby adopted for taxable real property in the above described area selected
for Project 8 (Kirkwood). After the total equalized assessed valuation of the
taxable real property in Project 8 (Kirkwood) exceeds the certified total
initial equalized assessed valuation of the taxable real property in such area,
the ad valorem taxes, and payment in lieu of taxes, if any, arising from the
levies upon the taxable real property in such project by taxing districts and
tax rates determined in the manner provided in subsection 2 of Section 99.855
each year after the effective date of the ordinance until redevelopment costs
have been paid shall be divided as follows:
1. That portion of taxes levied upon each
taxable lot, block, tract 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 area selected for Project 8 (Kirkwood) shall be
allocated to and, when collected, shall be paid by the Jackson 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 area selected for Project 8 (Kirkwood)
over and above the initial equalized assessed value of each such unit of property
shall be allocated to and, when collected, shall be paid to the City
Treasurer who shall deposit such payment in lieu of taxes into a special fund
called the "Special Allocation Fund" of the City for the purpose
of paying Redevelopment Project Costs and obligations incurred in the
payment thereof. Any payments in lieu of taxes which are not paid within
sixty (60) days of the due date shall be deemed delinquent and shall be
assessed a penalty of one percent (1%) per month.
Section 4. In addition to the payments in lieu of
taxes described in subsection 2 of Section 3 above, 50% of the total additional
revenue from taxes which are imposed by the City or taxing districts, and which
are generated by economic activities within the area selected for Project 8
(Kirkwood) over the amount of such taxes generated by economic activities
within such area in the calendar year prior to the adoption of this 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 City Treasurer or other designated financial officer
of the City, who shall deposit such funds in a separate segregated account
within the Special Allocation Fund.
Section 5. The area selected for Project 8
(Kirkwood) includes only those parcels of real property and improvements
thereon which will be substantially benefitted by the proposed redevelopment
project improvements.
___________________________________________________________________
Approved as to form and
legality:
___________________________________
Assistant City Attorney