ORDINANCE NO. 080262

Terminating the 353 Redevelopment Contract and Development Plan and terminating rights of tax abatement and eminent domain for the Board of Trade Redevelopment Project generally located on the west side of Main Street between 49th Street and 50th Street. (281-S-12)

WHEREAS, the Board of Trade Redevelopment Corporation, an urban redevelopment corporation of Missouri, organized under and pursuant to the Urban Redevelopment Corporations Act of 1945, as amended, did on November 3, 1981, file with the City Clerk an application for approval of a development plan which was approved by the City Council by Ordinance No. 53519, passed December 23, 1981; and

WHEREAS, the Board of Trade Redevelopment Corporation on March 2, 1982, filed with the City Clerk an application for a first amendment to the development plan, which was approved by the City Council by Committee Substitute for Ordinance No. 54189, passed July 29, 1982; and

WHEREAS, the Board of Trade Redevelopment Corporation filed an application for a second amendment to the development plan on November 21, 1983, which was approved by the City Council by Ordinance No. 56187, passed March 23, 1984; and

WHEREAS, the Board of Trade Redevelopment Corporation also filed an application for a third amendment to the development plan on March 14, 1986, which was approved by the City Council by Committee Substitute for Ordinance No. 59532, passed June 13, 1986; and

WHEREAS, the Board of Trade Redevelopment Corporation filed an application for a fourth amendment to the development plan on April 1, 1988, which was approved by the City Council by Ordinance No. 63742, passed March 23, 1989; and

WHEREAS, the Board of Trade Redevelopment Corporation filed an application for a fifth amendment to the development plan which was approved by the City Council by Ordinance No. 941676, passed December 22, 1994; and

WHEREAS, the Board of Trade Redevelopment Corporation filed an application for a sixth amendment to the development plan which was approved by the City Council by Ordinance No. 990105, passed February 11, 1999; and

WHEREAS, the Developer has requested that the tax abatement be terminated; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council hereby terminates the Board of Trade Redevelopment Contract with the Board of Trade Redevelopment Corporation and terminates the Board of Trade Development Plan.

Section 2. That ad valorem tax benefits and right of eminent domain as provided by Chapter 353, RSMo, granted to the Developer for the property described as follows are hereby terminated:

Blocks 1, 2 and 3, BOARD OF TRADE CENTER, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof; and

Lots 20 and 21, Block H, BISMARK PLACE, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, except for part in street.

Section 3. That the Directors of City Development and Finance are hereby authorized to execute and deliver any and all documents necessary to effectuate the purposes of this ordinance and to record such documents with the appropriate governmental offices as necessary.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney