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Legislation #: 990256 Introduction Date: 3/4/1999
Type: Ordinance Effective Date: 3/21/1999
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the KCI Corridor Tax Increment Financing Redevelopment Plan; approving the KCI Corridor Tax Increment Financing Redevelopment Plan; and designating a Redevelopment Area.

Legislation History
DateMinutesDescription
3/4/1999

Prepare to Introduce

3/4/1999

Referred Planning, Zoning & Economic Development Committee

3/10/1999

Advance and Do Pass

3/11/1999

Passed


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ORDINANCE NO. 990256

 

Accepting the recommendations of the Tax Increment Financing Commission as to the KCI Corridor Tax Increment Financing Redevelopment Plan; approving the KCI Corridor Tax Increment Financing Redevelopment Plan; and designating a Redevelopment Area.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended (the "Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, the Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts, closed said public hearing on February 10, 1999 and on February 10, 1999 approved Resolution No. 2-1-99 (the "Resolution") recommending to the City Council the approval of the KCI Corridor Tax Increment Financing Plan (the "Redevelopment Plan"); and

 

WHEREAS, the Redevelopment Plan is a comprehensive program intended to satisfy, reduce or eliminate those conditions, the existence of which qualified the Redevelopment Area as an economic development area, and to enhance the tax base within the Redevelopment Area through the implementation of 20 Redevelopment Projects and the adoption of tax increment financing in the 20 Redevelopment Projects Area; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendations of the Commission concerning the Redevelopment Plan as set forth in the Resolution attached hereto as Exhibit "A" are hereby accepted and the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B," is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized.

 

Section 2. 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 3. The following-described tract is hereby designated a Redevelopment Area:

 

Commencing at the intersection of the centerline of Tiffany Springs Parkway, as it now exists, and the centerline of N.W. Skyview Avenue, as it now exists; thence south along the center line of N.W. Skyview Avenue to the north line of the southwest quarter of Section 6, Township 51, Range 33; thence east along the north line of the Southwest Quarter of Section 6, Township 51, Range 33; and the north line of the Northwest Quarter of the Southeast Quarter of Section 6, Township 51, Range 33 to the east line of the Northwest Quarter of the Southeast Quarter of Section 6, Township 51, Range 33; thence south along the east line of


the Northwest Quarter of the Southeast Quarter of Section 6, Township 51, Range 33 to the centerline of Missouri Highway Route 152, as it now exists; thence west along the centerline of Missouri Highway Route 152 to the east line of the Southwest Quarter of Section 6, Township 51, Range 33; thence south along the east line of the Northwest Quarter of Section 7, Township 51, Range 33 to the easterly extension of the north lot line of Lot 1, BOARDWALK SQUARE 2ND PLAT; thence north 90 degrees 00 minutes 00 seconds west on the north line of said Lot 1, 295 feet to the northwest corner of said Lot 1; thence south 0 degrees 34 minutes 35 seconds west on the west line of said Lot 1, 265.00 feet to the north line of Lot 8, BOARDWALK SQUARE; thence north 90 degrees 00 minutes 00 seconds west on said north line, 264.55 feet; thence south 51 degrees 30 minutes 00 seconds west on said north line, 208.83 feet; thence north 90 degrees 00 minutes 00 seconds west on the north line of Lots 7 and 8 BOARDWALK SQUARE, 493.39 feet thence north 69 degrees 24 minutes 02 seconds west, 284.23 feet to an angle point on the north line of said Lot 7; thence north 90 degrees 00 minutes 00 seconds west on said north line and its westerly prolongation to the centerline of Interstate 29; thence north and northwesterly along the centerline of Interstate 29 to the intersection with the southwesterly extension of the northwest lot line of Lot 12J, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 26, to the northeastern lot line of Lot 12J, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 26; thence southeasterly a distance of 138.27 feet along the northeastern lot line of Lot 12J, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 26, to the northwestern lot line of Lot 12H, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 26; thence northeasterly along the northwestern lot line of Lot 12H, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 2, to the northern line of Lot 12H, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 2; thence southeasterly and northeasterly along the northern lot line of Lot 12H, Block 12, EXECUTIVE HILLS NORTH BLOCKS 12 AND 2, to the centerline of N. Executive Hills Boulevard, as it now exists; thence northwesterly and northeasterly to the centerline of Tiffany Springs Parkway; thence east along the centerline of Tiffany Springs Parkway to the centerline of N.W. Skyview Avenue, the Point of Beginning, now all included in and a part of Kansas City, Missouri.

 

Section 4. In accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

 

A. The Redevelopment Area described in the Plan is hereby found to be an Economic Development Area, as defined in Section 99.805(5) of the Act.

 

B. The Redevelopment Area has not been subject to growth and development through investment by private enterprise. It is undeveloped ground. The lack of sufficient street improvements and interchanges has inhibited the development of the Redevelopment Area.

 

C. The Redevelopment Area would not reasonably be anticipated to be developed without the adoption of the Redevelopment Plan, and such fact is acknowledged by the Redeveloper in an affidavit included as an exhibit to the Redevelopment Plan. Extensive searches for means to finance street and interchange improvements at the state and local level have repeatedly failed. The state and local governments have repeatedly stated that they do not have the wherewithal to finance the proposed improvements and such improvements are cannot be undertaken by any single developer as part of an economically feasible project. Tax increment financing is necessary to make this project feasible.

 

D. The redevelopment of the Redevelopment Area will not be solely used for development of commercial businesses which unfairly compete in the local economy.

 

E. The Redevelopment of the Redevelopment Area is in the public interest because it will result in increased employment in Kansas City and result in the preservation and enhancement of the tax base. The construction of the street and interchange improvements called for in the Plan will provide access to portions of the City which are currently without sufficient streets. The existing streets cannot support further commercial and residential development within the Redevelopment Area

 

F. The Redevelopment Plan, conforms to FOCUS, the comprehensive plan for the development of the City as a whole.

 

G. The areas selected for Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefitted by the Redevelopment Project improvements.

 

H. The estimated dates of completion of the Redevelopment Projects and retirement of obligations incurred to finance redevelopment project costs have been stated in the Redevelopment Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area.

 

I. The Redevelopment Plan includes a plan for relocation assistance for businesses and residences.

 

J. A cost benefit analysis showing the impact of the Redevelopment Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act.

 

K. The Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

 

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the KCI Corridor Account of the Special Allocation Fund to finance Redevelopment Project Costs within the 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 Redevelopment Plan pursuant to the power delegated to it in Ordinance No. 54556. 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. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds that are deposited into the KCI Corridor 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.

 

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Approved as to form and legality:

 

 

 

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Assistant City Attorney