COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 051527
Receiving the recommendations of
the Tax Increment Financing Commission as to the 811 Main Tax Increment
Financing Plan; approving the 811 Main Tax Increment Financing Plan; and
designating a Redevelopment Area; requesting the Commission to implement the Redevelopment
Plan through a redevelopment contract.
WHEREAS, the City
Council of Kansas City, Missouri by Ordinance No. 54556 passed on November 24,
1982 and thereafter amended in certain respects by Committee Substitute for
Ordinance No. 911076, as amended, passed on August 29, 2991, created the Tax
Increment Financing Commission of Kansas City, Missouri (the Commission); and
WHEREAS, the 811 Main
Tax Increment Financing Plan (the Redevelopment Plan) was proposed to the
Commission; and
WHEREAS, the
Redevelopment Plan is a comprehensive program intended to reduce or eliminate
blight and enhance and retain the tax base within the Redevelopment Area
through the implementation of one Redevelopment Project and adoption of tax
increment financing for such Redevelopment Project; 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 with
respect to the Redevelopment Plan, closed said public hearing on November 9,
2005, and, by majority vote, recommended to the City Council denial of the
Redevelopment Plan; and
WHEREAS, having
received the recommendation of the Commission and having considered the
testimony on said Redevelopment Plan, the City Council has determined that it
is proper to approve said Redevelopment Plan containing the proposal of
Commerce Bank N.A. as the developer in order to retain jobs within Downtown Kansas
City, remove the existing blight within the Redevelopment Area and renovate the
811 Main Street Building located within the Redevelopment Area; NOW, THEREFORE,
BE IT ORDAINED BY THE
COUNCIL OF KANSAS CITY:
Section 1. The
recommendation of the Commission concerning the Redevelopment Plan is hereby
received and the 811 Main Tax Increment Financing Plan, a copy of which is
attached as Exhibit A is hereby approved and adopted.
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 (the Act).
Section 3. The
following described area is hereby designated as a Redevelopment Area:
ALL OF LOTS 41 TO 52, INCLUSIVE;
ALL OF LOTS 62 TO 66, BOTH INCLUSIVE; AND THE NORTH-SOUTH ALLEY RUNNING FROM
THE SOUTH LINE OF LOT 62 AS PROJECTED WEST TO THE NORTH LINE OF LOT 66, AS
PROJECTED WEST, ROSS & SCARRITT'S ADDITION, A SUBDIVISION IN THE CITY OF
KANSAS CITY, JACKSON COUNTY, MISSOURI, ACCORDING TO THE RECORDED PLAT THEREOF,
BEING MORE PARTICULARLY DESCRIBED AS BEGINNING AT THE INTERSECTION OF THE SOUTH
LINE OF EAST 8TH STREET WITH THE EAST LINE OF MAIN STREET; THENCE SOUTH ALONG
SAID EAST LINE OF MAIN STREET 279.33 FEET TO THE NORTH LINE OF EAST 9TH STREET;
THENCE EAST AND PARALLEL WITH THE NORTH LINE OF EAST 9TH STREET 117.85 FEET;
THENCE NORTH AND PARALLEL WITH THE EAST LINE OF MAIN STREET 167.29 FEET; THENCE
EAST AND PARALLEL WITH THE SOUTH LINE OF EAST 8TH STREET 130.37 FEET TO THE
WEST LINE OF WALNUT STREET; THENCE NORTH ALONG SAID WEST LINE OF WALNUT STREET
120 FEET TO THE SOUTH LINE OF EAST 8TH STREET; THENCE WEST AND PARALLEL WITH
THE SOUTH LINE OF THE EAST 8TH STREET 252.69 FEET TO THE POINT OF BEGINNING.
Section 4. The City Council hereby finds
that:
(a) The
Redevelopment Area as a whole is a blighted area, evidenced by unsanitary or
unsafe conditions: deterioration of site improvements; existence of conditions
that endanger life or property by fire or other causes; and declining property
values.
(b) The
Redevelopment Area has 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 Redevelopment Plan;
(c) The
Redevelopment Plan conforms to FOCUS and the Downtown Land Use and Development
Plan, together, the comprehensive plan for the development of the City as a
whole;
(d) The
area selected for the Redevelopment Project includes only those parcels of real
property and improvements thereon which will be directly and substantially
benefited by the Redevelopment Project improvements;
(e) The
estimated date of completion of the Redevelopment Project and retirement of
obligations incurred to finance the 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;
(f) A
plan has been developed for relocation assistance for businesses and
residences;
(g) A
cost-benefit analysis showing the impact of the Redevelopment Plan on each
taxing district located at least partially within the boundaries of the
Redevelopment Area has been prepared in accordance with the Act; and
(h) The
Redevelopment Plan does not include the initial development or redevelopment of
any gambling establishment.
Section 5. The City and/or the Commission is
authorized to issue obligations in one or more series of bonds secured by the
811 Main Tax Increment Financing Plan 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 City and/or 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, as amended. Any obligations issued to
finance Redevelopment Project Costs shall contain a recital that they are
issued pursuant to Section 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 generated
from the Redevelopment Project that are deposited into the 811 Main Tax
Increment Financing Plan 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.
Section 7. That the City Council hereby
requests that the Tax Increment Financing Commission of Kansas City, Missouri,
take all necessary steps to enter into a redevelopment agreement for
implementation of the Redevelopment Plan with the proposed developer.
_____________________________________________
Approved
as to form and legality:
___________________________________
Heather
A. Brown
Assistant City Attorney