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Legislation #: 001592 Introduction Date: 11/30/2000
Type: Ordinance Effective Date: 6/20/2010
Sponsor: None
Title: Approving and designating Project Area 4 of the Parvin Road Corridor Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therein.

Legislation History
DateMinutesDescription
11/30/2000

Prepare to Introduce

11/30/2000

Referred Finance and Audit Committee

12/13/2000

Hold Off Agenda

1/9/2002

Hold Off Agenda

1/7/2004

Hold Off Agenda

7/14/2004

Hold Off Agenda

7/14/2005 Hold Off Agenda
7/18/2007 Hold Off Agenda
7/16/2008 Hold Off Agenda
6/2/2010 Hold On Agenda (6/9/2010)
6/9/2010 Do Pass as a Committee Substitute
6/10/2010 Councilmember Johnson Move to Advance
6/10/2010 Passed as Substituted

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00124428.XLS Fact Sheet 47K ED Fact Sheet
00123769.XLS Fact Sheet 99K Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 001592

 

Approving and designating Project Area 4 of the Parvin Road Corridor 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WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on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"); and 

WHEREAS, on December 14, 2000, the City Council passed Ordinance No. 001638, which approved the Parvin Road Corridor Tax Increment Financing Plan and designated the Redevelopment Area as an economic development area (the Redevelopment Plan); and  

WHEREAS, the Redevelopment Plan and ordinances contemplate the implementation of the Redevelopment Plan through four separate Redevelopment Project Areas 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 Parvin Road Corridor Redevelopment Project Area 4 legally described as follows: 

All that part of Sections 1 and 2, Township 50, Range 32, Kansas City, Clay County, Missouri, being described as follows: Beginning at the Southwest corner of the Northwest Quarter of said Section 1; thence South 89 degrees 19 minutes 19 seconds East, along the South line of said Northwest Quarter, 2026.89 feet; thence North 20 degrees 13 minutes 16 seconds East, 18.19 feet; thence Northerly, along a curve to the left, having an initial tangent bearing of North 11 degrees 24 minutes 55 seconds East, having a radius of 1628.40 feet, an arc distance of 791.86 feet: thence North 16 degrees 26 minutes 47 seconds West, 544.12 feet; thence Northerly, along a curve to the right, tangent to the last described course, a radius of 4429.07 feet, an arc distance of 351.84 feet; thence Northwesterly, along curve to the left, having a common tangent with the last described course, a radius of 741.04 feet, an arc distance of 197.42 feet; thence North 90 degrees 00 minutes 00 seconds West, 1938.00 feet; thence South 70 degrees 33 minutes 00 seconds West, 60.00 feet; thence Southerly, along a curve to the right, having an initial tangent bearing of South 19 degrees 27 minutes 00 seconds East, a radius of 1170.00 feet, an arc distance of 424.00 feet; thence South 01 degrees 18 minutes 48 seconds West, 92.95 feet; thence North 88 degrees 41 minutes 12 seconds West, 1045.89 feet; thence South 01 degrees 18 minutes 48 seconds West, 767.32 feet; thence South 69 degrees 56 minutes 38 seconds West, 161.07 feet; thence South 01 degrees 18 minutes 48 seconds West, 536.91 feet; thence South 20 degrees 03 minutes 22 seconds East, 80.00 feet; thence South 69 degrees 56 minutes 38 seconds West, 31.30 feet; thence South 1 degree 18 minutes 48 seconds West, 588.72 feet; thence North 65 degrees 47 minutes 29 seconds East, 181.73 feet; thence South 0 degrees 34 minutes 55 seconds West, 1346.10 feet; thence South 89 degrees 16 minutes 30 seconds East, 105.00 feet; thence South 0 degrees 34 minutes 55 seconds West, 268.00 feet; thence South 89 degrees 16 minutes 30 seconds East, 218.40 feet; thence North 0 degrees 34 minutes 55 seconds East, 218.00 feet; thence South 89 degrees 16 minutes 30 seconds East, 72.60 feet; thence South 0 degrees 34 minutes 55 seconds West, 236.30 feet; thence North 43 degrees 51 minutes 10 seconds East, 460.00 feet; thence North 55 degrees 51 minutes 10 seconds East, 256.00 feet; thence North 01 degrees 38 minutes 00 seconds East, 172.00 feet; thence South 25 degrees 35 minutes 49 seconds East, 99.57 feet; thence South 78 degrees 10 minutes 10 seconds East, 123.10 feet; thence North 78 degrees 20 minutes 20 seconds East, 226.58 feet to a point on the East line of the Southeast Quarter of said Section 2; thence North 0 degrees 28 minutes 03 seconds East, along said East line, 1698.86 feet to the Point of Beginning. Containing 186.92 acres, more or less. 

is approved and designated as Parvin Road Corridor Project Area 4 (the "Redevelopment Project"). 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for the Redevelopment Project. After the total equalized assessed valuation of the taxable real property in the Redevelopment Project exceeds the certified total initial equalized assessed valuation of the taxable real property in the Redevelopment Project, 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 or real property in the area selected for the Redevelopment Project shall be allocated to and, when collected, shall be paid by the Clay 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 the Redevelopment Project 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 60 days of the due date will be deemed delinquent and assessed a penalty of 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 the Redevelopment Project 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 personal property taxes, taxes imposed on sales of charges for sleeping rooms paid by transient guests of hotels and motels, taxes levied pursuant to Section 70.500, RSMo., taxes levied for the purpose of public transportation pursuant to Section 94.660 RSMo., licenses, fees or special assessments, other than payments in lieu of taxes and penalties and interest thereon, but excluding taxes imposed on sales of 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. 

___________________________________________

  Approved as to form and legality:

 

 

_______________________________

Heather A. Brown

Senior Associate City Attorney