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ORDINANCE NO. 020650
the recommendations of the Tax Increment Financing Commission as to the First Amendment
to the Tower Properties Tax Increment Financing Plan; approving the First
Amendment to the Tower Properties Tax Increment Financing Plan; designating an
expanded redevelopment area; and authorizing additional projects.
the City Council of Kansas City, Missouri, by Ordinance No. 54556 passed on
November 24, 1982, created the Tax Increment Financing Commission of Kansas
City, Missouri (the "Commission") and by Ordinance No. 911076,
modified the composition of the Commission in accordance with State law;
on August 9, 1995, the Commission adopted its resolution approving a plan
entitled "Tower Properties Tax Increment Financing Plan" (the
"Redevelopment Plan"), calling for redevelopment of an area generally
bounded by Central Street on the West, 6th Street Trafficway on the north,
Walnut Street on the east and 8th Street on the south, except between Delaware
and Walnut where the boundary extends to 10th Street, and recommending to the
City Council that the City Council approve the Redevelopment Plan; and
on November 27, 1995, the City Council passed Committee Substitute for
Ordinance No. 951469, wherein the City Council approved the Redevelopment Plan,
designated the area described therein as a Redevelopment Project Area and
adopted tax increment financing; and
the Redevelopment Plan and Committee Substitute for Ordinance No. 951469
contemplate the implementation of the Redevelopment Plan through 8 separate
projects and the adoption of Tax Increment Financing for each project; and
on February 27, 1997, after all proper notice was given, the Commission met in
public hearing and after receiving the comments of all interested persons and
taxing districts affected by an amendment to the Redevelopment Plan, adopted
its resolution recommending to the City Council the approval of a first
amendment to the Redevelopment Plan (the "First Amendment) which provides
for the acquisition of certain property through eminent domain; NOW, THEREFORE,
IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
1. The recommendation of the Commission concerning the First Amendment to the
Tower Properties Redevelopment Plan as set forth in the resolution attached
hereto as Exhibit "A" is hereby accepted, and the First Amendment
attached hereto as Exhibit B is hereby approved.
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 (the
3. The City Council hereby finds that:
Redevelopment Area as a whole is a blighted area, as evidenced by insanitary
and unsafe conditions, vacant and underutilized properties, obsolescence,
deterioration of site improvements, lack of maintenance and lack of
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.
Redevelopment Area as a whole and each Redevelopment Project Area have 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 First Amendment.
First Amendment as a whole and each Redevelopment Project conform to the
comprehensive plan for the development of the City as a whole.
estimated dates of completion of the Redevelopment Projects and retirement of
obligations incurred to finance Redevelopment Project Costs have been stated in
the First Amendment and are not more than 23 years from the adoption of any
ordinance approving a Redevelopment Project within the Redevelopment Area.
First Amendment includes a plan for relocation assistance for businesses and
cost-benefit analysis showing the impact of the First Amendment on each taxing
district which is at least partially within the boundaries of the Redevelopment
Area has been prepared in accordance with the Act.
First Amendment does not include the initial development or redevelopment of
any gambling establishment.
3. The First Amendment is hereby approved and the projects sets forth therein
are hereby authorized.
4. The First Amendment does not alter the boundaries of the Redevelopment Area
legally described in the original Redevelopment Plan.
5. The Commission is authorized to issue obligations in one or more series of
bonds secured by the Tower Properties TIF 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.
6. Pursuant to the provisions of the Redevelopment Plan, as amended, the City Council
approves the pledge and authorizes the Commission to pledge all funds generated
from the Redevelopment Plan, which are deposited into the Tower Properties
Account of the Special Allocation Fund to the payment of Redevelopment Project
Costs and Redevelopment Costs within the Redevelopment Area and each of the
Redevelopment Project Areas.
as to form and legality: