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Legislation #: 970374 Introduction Date: 3/27/1997
Type: Ordinance Effective Date: 4/27/1997
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Country Club Plaza Tax Increment Financing Plan; approving the Tax Increment Financing Plan and designating a Redevelopment Area; establishing the effective date; and expressing the intent of the Council.

Legislation History
DateMinutesDescription
4/17/1997

Waive Charter Requirements City Council

4/10/1997

Waive Charter Requirements City Council

3/27/1997

Prepare to Introduce

3/27/1997

Referred Planning, Zoning & Economic Development Committee

4/2/1997

Hold On Agenda

4/9/1997

Do Pass

4/10/1997

Assigned to Third Read Calendar

4/17/1997

Passed


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ORDINANCE NO. 970374

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Country Club Plaza Tax Increment Financing Plan; approving the Tax Increment Financing Plan and designating a Redevelopment Area; establishing the effective date; and expressing the intent of the Council.

 

WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556, passed on November 24, 1982, and thereafter amended in certain respects by Ordinance No. 911076, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, said 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 March 12, 1997, and on March 12, 1997, adopted its resolution recommending to the City Council the approval of the Country Club Plaza Tax Increment Financing Plan (the "Redevelopment Plan"); and

 

WHEREAS, the Redevelopment Plan is a comprehensive program intended to reduce or eliminate blight and enhance the tax base within the Redevelopment Area through the implementation of nine separate Redevelopment Projects 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. The recommendation of the Commission concerning the Redevelopment Plan as set forth in the Resolution attached hereto as Exhibit "A" is hereby accepted and the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B," 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.

 

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

 

All that part of the Northeast Quarter of the Southeast Quarter of Section 30, Township 49, Range 33, including part of Lots 1 and 16, PENN PARK, a subdivision, including part of the vacated alley, lying between said Lots 1 and 16 and including part of vacated Pennsylvania Avenue, all in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, and all being more particularly described as follows: Commencing at the intersection of the South right-of-way line of 47th. Street (as established by Ordinance No. 47976, approved August 8, 1924) with the West right-of-way line of Pennsylvania Avenue as established by deed recorded under Document No. A-440481, in Book B-2979 at Page 410 and accepted by Kansas City by Ordinance recorded under Document No. A-449482 in Book B-2979 at Page 411; run thence South along the West right-of-way of said Pennsylvania Avenue, 150 feet; run thence West at right angles to said West right-of-way line, 14 feet, more or less to the existing West right-of-way line of said Pennsylvania Avenue, as widened by deed recorded under Document No. A-644303 in Book B-3413, at Page 361 and accepted by Kansas City by Ordinance recorded under Document No. A-638263, in Book B-3406 at Page 386, being the True Point of Beginning of the tract herein described; thence continuing West and along the South line of a tract herein described; thence continuing West and along the South line of a tract of land conveyed to Skelly Oil Company by Document No. A-708238 recorded in Book B-3549 at Page 313, a distance of 248.36 feet, more or less to the East right-of-way line of Jefferson Street, as now established; thence South along said East right-of-way line, 146.39 feet to the North right-of-way line of Nichols Road (formerly Alameda Road) as widened by deed recorded under Document No. A-644303 in Book B-3413 at Page 361 and accepted by Kansas City by Ordinance recorded as Document No. A-638263 in Book B-3406 at Page 386; thence East along said North right-of-way line, 247.80 feet to the existing West right-of-way line of said Pennsylvania Avenue; thence North along said existing West right-of-way line, 146.02 feet to the Point of Beginning.

 

Also described as follows: Beginning at the point of intersection of the West right-of-way line of Pennsylvania Avenue with the North right-of-way line of Nichols Road, as said avenue and road are now both established; thence West along said North right-of-way line, a distance of 247.73 feet, more or less to a point of intersection with the East right-of-way line of Jefferson Street, as now established; thence North along said East right-of-way line, a distance of 145.60 feet, more or less; thence East 248.36 feet, more or less to a point on the West right-of-way line of said Pennsylvania Avenue 145.29 feet, more or less North of the Point of Beginning; thence South along said West right-of-way line 145.29 feet to the Point of Beginning.

 

 

Also, including the following described parcel of land: Part of the Northeast 1/4 of the Southeast 1/4 of Section 30, Township 49, Range 33, including part of Lots 13, 14, 15, 16 and 20 and all of Lots 21 thru 28, both inclusive, PENN PARK, a subdivision of land, and including part of vacated Jefferson Street, all in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, and all being more particularly described as follows: Beginning at a point in the West line of said Lot 20, being a point in the East line of an alley in said PENN PARK and 120 feet South of the South line of 47th. Street; as now established; thence Easterly and parallel with the South line of said 47th. Street; 221.64 feet to a point in the West line of Jefferson Street, as now established; thence South along the West line of said Jefferson Street, 336.69 feet to a point in the Easterly prolongation of the North line of Lot 29, of said PENN PARK; thence West along the North line of said Lot 29 and its Easterly prolongation a distance of 167.53 feet to the Northwest corner of said Lot 29, said point being in the East line of the aforesaid alley, thence North along the East line of said alley 320.17 feet to the Point of Beginning, together with the East of the vacated alley West of and adjacent to Lots 21 thru 28, both inclusive, PENN PARK. Also, all of Lot 35 thru 44, both inclusive, and Lot 45, except that part of said Lot 45 now in 47th. Street, PENN PARK, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, together with the West of the vacated alley lying East of and adjacent to Lots 35 thru 42, both inclusive, PENN PARK.

 

Also described as follows: Beginning at the Southwest corner of Lot 35, PENN PARK, a subdivision, according to the recorded plat thereof, being also a point on the East right-of-way line of Summit Street, as now established; thence North along the West line of Lots 35 through 45 of said PENN PARK and along said East right-of-way line of said Summit Street, a distance of 433.69 feet, more or less to a point on the South right-of-way line of 47th. Street, as now established; thence Northeasterly along said South right-of-way line, a distance of 135.16 feet to the Northeast corner of said Lot 45; thence South along the East line of said Lots 45, 44 and 43, 119.99 feet, more or less to a point; thence East, 15 feet to a point on the West line of Lot 21 of said PENN PARK, being also the East line of an alley; thence North along said East line and the West line of Lots 21 and 20 of said PENN PARK, 0.71 feet; thence Northeasterly, 221.52 feet, more or less to a point on the West right-of-way line of Jefferson Street, as now established, said point being 120 feet Southerly of the point of intersection of the South right-of-way line of said 47th. Street with the West right-of-way line of said Jefferson Street; thence Southerly and Southwesterly along said West right-of-way line, 335.67 feet, more or less to the Northeast corner of VANITY FAIR, a condominium subdivision in said City, County and State, according to the recorded plat thereof; thence West along the North line of said VANITY FAIR and along the North line of Lot 29 and its Westerly prolongation and along the North line of Lot 34 of said PENN PARK, a distance of 317.59 feet, more or less to the Point of Beginning.

 

Also including the overhead pedestrian bridge located between the Seville Building and the parking garage lying West of the West line of the above described parcel of land. Less and except the following businesses: Federal Express Corporation - 4710 Jefferson Street Boatmen's First National Bank - 4720 Jefferson Street Jules Seafood Restaurant - 4740 Jefferson Street AND

All that part of the Southeast 1/4 of Section 30, Township 49, Range 33, in Kansas City, Jackson County, Missouri, which lies West of Broadway Street, East of Pennsylvania Avenue, South of 47th Street, and North of Nichols Road. Except that part thereof described as follows: Beginning at the intersection of the West line of Broadway with the South line of 47th Street, as said streets are now established; thence South along said West line, 296.36 feet (296 feet, deed) to its intersection with the North line of Nichols Road, as now established; thence West along said North line, 462.21 feet (462 feet, deed) to its intersection with the West line of the East 6 feet of Pennsylvania Avenue, vacated by Ordinance No. 21101, passed January 14, 1957; thence North along said West line, 140.27 feet; thence East, deflecting 89 degrees 53 minutes 16 seconds to the right from the last described course, a distance of 207.88 feet; thence North, deflecting 89 degrees 54 minutes 30 seconds to the left from the last described course, 9.25 feet; thence East at right angles from the last described course, 90.16 feet; thence North at right angles from the last described course, 90.16 feet; thence North at right angles from the last described course, 1.90 feet; thence East at right angles from the last described course, 78.26 feet to a point on a line drawn 85.97 feet West of and parallel with said West line of Broadway; thence North along said parallel line, 144.55 feet to a point on the South line of said 47th Street; thence East along said South line, 85.97 feet to the Point of Beginning of said exception.

 

Also described as follows: Beginning at the point of intersection of the West right-of-way line of Broadway with the South right-of-way line of 47th. Street, as both streets are now established; thence South along said West right-of-way line, 296.36 feet to a point of intersection with the North right-of-way line of Nichols Road, as now established; thence West along said North right-of-way line, 462.21 feet to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as now established; thence North along said East right-of-way line, 302.07 feet to a point of intersection with the South right-of-way line of said 47th. Street; thence East along said South right-of-way line, 376.34 feet to a jog therein; thence South along said jog, 6 feet; thence East along said South right-of-way line, 85.97 feet to the Point of Beginning.

 

Also, including air rights for an overhead pedestrian bridge over Pennsylvania Avenue between the existing Seville and SAKS buildings. Less and except the following businesses/addresses: Brooks Brothers 424 Nichols Road Polo/Ralph Lauren (KC Polo Partners, Inc.) 408-410 Nichols Road Country Club Bank 414 Nichols Road Panache Chocolatier, Inc. 418 Nichols Road Helzberg Diamonds 400 Nichols Road Ann Taylor, Inc. 4728 Broadway Enzo Angiolini (Nine West Group, Inc.) 4720 Broadway Elisabeth (LCI Holdings, Inc.) 4712 Broadway The Nature Company 4710 Broadway Overland Outfitters, Inc. 4704 Broadway 4700-4702 Broadway AND

Lots 102 and 103, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Lots 104 and 105, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Lot 106 and the East 1.5 feet of Lot 107, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Lot 107, except the West 10 feet and the East 1-1/2 feet thereof, and the North 5 feet of the East 59.28 feet of the West 69.28 feet of Lot 108, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Lot 108, except the West 10 feet thereof, measured at right angles to the West line thereof, and except the North 5 feet of the East 59.28 feet, of the West 69.28 feet, of said Lot, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Lot 109, except the West 10 feet in Pennsylvania Avenue; and Lots 110, 111, 112 and 113, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

 

Also described as follows: Beginning at the Southeast corner of Lot 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, being also a point on the North right-of-way line of 47th Street, as now established; thence West along the South line of Lots 113 through 109, inclusive and along said North right-of-way line, a distance of 338.75 feet, more or less to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as now established; thence North along said East right-of-way line, a distance of 290.19 feet, more or less to a point on the South right-of-way line of 46th. Terrace, as now established, being also a point on the North line of Lot 107 of said LA SOLANA; thence East along said North line and along said South right-of-way line and along the North line of said Lots 107 through 102, inclusive, a distance of 337.99 feet, more or less to the Northwest corner of said TOWNSEND PLACE CONDOMINIUM, a condominium subdivision in said City, County and State, according to the recorded plat thereof; thence South along the West line of said TOWNSEND PLACE CONDOMINIUM and along the East line of Lots 102 and 113 of said LA SOLANA, a distance of 282.62 feet, more or less to the Southeast corner of said Lot 113 and the Point of Beginning. AND

Lot 93, except the West 10 feet thereof, measured at right angles to the West line of said Lot, and the West 39 feet of Lot 94, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. The East 11 feet of Lot 94, all of Lot 95, and the West 12, feet of Lot 96, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. The East 38 feet of Lot 96, and the West 35 feet of Lot 97, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Lot 99, except the East 5 feet thereof, all of Lot 98, and the East 15 feet of Lot 97, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. The East 5 feet of Lot 99, and all of Lot 100, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. The South 66-2/3 feet of the North 250 feet of Lot 24, except the East 30 feet in Broadway, HOME PLACE, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

 

Also described as follows: Beginning at the Southwest corner of Lot 93 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, being also a point on the North right-of-way line of 46th Street Terrace, as now established; thence North along the West line of said Lot 93 and along the East right-of-way line of Pennsylvania Avenue, as now established, a distance of 121.22 feet, more or less to a point on the North line of said Lot 93; thence East along the North line of said Lots 93 through 100, inclusive, a distance of 409.08 feet, more or less to the Northeast corner of said Lot 100 of said LA SOLANA; thence South along the East line of said Lot 100 and along the West line of Lot 24 of HOME PLACE, a subdivision, according to the recorded plat thereof, a distance of 63.55 feet, more or less to the Northwest corner of the South 66-2/3 feet of said Lot 24; thence East along the North line of said South 66-2/3 feet, a distance of 89.21 feet, more or less to a point on the East line of said Lot 24, being also a point on the West right-of-way line of Broadway, as now established; thence South along said East line and said West right-of-way line, a distance of 66.67 feet, more or less to the Southeast corner of said Lot 24; thence West along the South line of said Lot 24 and along the South line of Lots 100 and 99 and along the North right-of-way line of said 46th Terrace, a distance of 150 feet, more or less to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof; thence South along said Northerly prolongation, 50 feet to a point on the South right-of-way line of said 46th Terrace, being also the Northwest corner of said TOWNSEND PLACE CONDOMINIUM; thence East along said South right-of-way line, a distance of 337.99 feet more or less to a point of intersection with the East right-of-way line of said Pennsylvania Avenue; thence North along the northerly prolongation of said East right-of-way line, 50 feet to a point on the North right-of-way line of said Pennsylvania Avenue, being also a point on the South line of Lot 93 of said LA SOLANA; thence West along the South line of said Lot 93 and along said North right-of-way line, 10 feet, more or less to the Point of Beginning. AND

All that part of Lots 38 thru 44 and that part of Lots 57 thru 64, COUNTRY CLUB PLAZA, a subdivision of land, and parts of vacated streets adjoining, being all that part of the Northwest Quarter of the Southwest Quarter of Section 29, Township 49, Range 33, Kansas City, Jackson County, Missouri, bounded by the West right-of-way line of Central Street, as now established, on the East; by the North right-of-way line of Nichols Road, as now established, on the South; by the East right-of-way line of Wornall Road, as now established, on the West; and by the South right-of-way line of 47th Street, as now established, on the North.

 

Also described as follows: Beginning at the point of intersection of the East right-of-way line of Broadway with the Northwesterly right-of-way line of Nichols Road, as both roads are now established; thence North along said East right-of-way line, 267.23 feet; thence Northerly, Northeasterly and Easterly along a curve to the right and along said East right-of-way line; tangent to the last described course, having a radius of 30 feet and a central angle of 9000'46", an arc distance of 47.13 feet to a point on the South right-of-way line of 47th. Street, as now established; thence East along said South right-of-way line, a distance of 185.43 feet to a point of intersection with the Southwesterly right-of-way line of Central Street, as now established; thence Southeasterly along said Southwesterly right-of-way line, a distance of 187.62 feet; thence Southeasterly, Southerly and Southwesterly along a curve to the right, tangent to the last described course and along said Southwesterly right-of-way line, having a radius of 44 feet and a central angle of 8959'36", an arc distance of 69.11 feet to a point on the Northwesterly right-of-way line of said Nichols Road; thence Southwesterly along said Northwesterly right-of-way line of, a distance of 240.74 feet to the Point of Beginning.

 

Less and except the following businesses: Classic Cup Sidewalk Cafe 301 W. 47th Street Sharper Image, Inc. 333 W. 47th Street KCPT Store of Knowledge 4705 Broadway The Great Train Store 4725 Broadway Russell Stovers (vacant) 320 Broadway Plaza Shoe Shine 306 Nichols Road Emile's Deli & Restaurant 302-310 Nichols Road The Pen Place 4706 Central Street AND

Lot 79, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof. Less and except the following businesses: Country Club Bank's Walk-Up Facility- 4770 Wyandotte Street Mail Boxes, Etc. (One Stop Business Cor.) 4741 Central Street Omni Photo, Inc. 4777 Central Street AND

Lots 1 to 8, inclusive, REES TURPIN'S ADDITION, a subdivision in Kansas City, Jackson County, Missouri according to the recorded plat thereof.

 

Also, a tract of land being part of the Southwest Quarter of the Northwest Quarter of Section 29, Township 49, Range 33, including in that part of the North Half of vacated 46th Street, lying adjacent thereto in Kansas City, Jackson County, Missouri, being more particularly described as follows: Beginning at the most East, Southeast corner of PARKWAY TOWERS CONDOMINIUM SUBDIVISION, a condominium subdivision in said City, County and State, according to the recorded plat thereof, being also a point on the Westerly right-of-way line of J.C. Nichols Parkway, as now established; thence Southeasterly along said Westerly right-of-way line, a distance of 122 feet, more or less to a point on the South line of the North Half of said vacated 46th. Street Way; thence West along said South line, 106.5 feet, more or less; thence North along a straight line, perpendicular to the last described course, a distance of 10 feet to the South, Southeast corner of said PARKWAY TOWERS CONDOMINIUM SUBDIVISION; thence continuing North along the East line of said PARKWAY TOWERS CONDOMINIUM SUBDIVISION, a distance of 107 feet; thence East along a jog in the East line of said PARKWAY TOWERS CONDOMINIUM SUBDIVISION, a distance of 74.69 feet to the Point of Beginning. AND

All of Block E, except Lots 1, 2, 3, 4, 5, 11, 12, 23 and 24, all of Block F and all of Lots 1 through 12, Block G, BISMARK PLACE, a subdivision, according to the recorded plat thereof, together with portions of 49th. Street, 50th. Street, Wornall Road, Central Street, Wyandotte Street as said streets and road are now established and other lands, all in the West Half of the Southwest Quarter of Section 29, Township 49, Range 33, in Kansas City, Jackson County, Missouri, being more particularly described as follows: Beginning at the Southwest corner of Lot 5, Block E of said BISMARK PLACE, being also a point on the East right-of-way line of Wornall Road, as now established; thence North 8725'22" West, 30.00 feet to a point on the West line of Southwest Quarter of said Southwest Quarter; thence South 234'38" West along said West line, a distance of 373.72 feet to a point of intersection with the centerline of said 50th. Street; thence South 8704'13" East along said centerline, 661.04 feet to a jog in said centerline and a point on the centerline of said Wyandotte Street produced South; thence South 236'20" West along said centerline and along said jog, 21.43 feet (22.00 feet, plat); thence South 8707'13" East along the centerline of said 50th. Street, 165.92 feet to a point of intersection with the prolongation South of the East line of Lots 1 through 12 in said Block G; thence North 232'41" East along said prolongation and along the East line of said Lot 12, a distance of 30.00 feet to a point which is 5.00 feet North of the Southeast corner thereof, said point being also on the West line of Block 2, BOARD OF TRADE CENTER, a subdivision in said City, County and State, according to the recorded plat thereof, being also a point which is 0.12 feet North of the Southwest corner thereof; thence continuing North 232'41" East along said West line and along the East line of Lots 12 through 1 in said Block G, a distance of 543.02 feet, to a point which is 22.00 feet South of the North line of said Southwest Quarter, Quarter Section, being also the Northwest corner of said Block 2, BOARD OF TRADE; thence continuing North 232'41" East, 40.50 feet to a point on the centerline of 49th. Street, as now established; thence the following courses and distances along said centerline; thence North 8717'55" West, 133.65 feet; thence Northwesterly along a curve to the right, tangent to the last described course, having a radius of 649.90 feet and a central angle of 809'13", an arc distance of 92.49 feet; thence North 7908'42" West, 182.99 feet; thence Westerly and Southwesterly along a curve to the left, tangent to the last described course, having a radius of 159.92 feet and a central angle of 2214'49", an arc distance of 62.09 feet; thence South 7836'29" West, tangent to the last described curve, 146.97 feet; thence Southwesterly along a curve to the right, tangent to the last described course, having a radius of 400 feet and a central angle of 777'40", an arc distance of 50.93 feet to a point of intersection with the Northerly prolongation of the East line of Lots 1-5, inclusive of said Block E; thence South 232'21" West along said prolongation, 27.85 feet to the Northeast corner of said Lot 1; thence continuing South 232'21" West along the East line of said Lots 1 through 5, Block E, a distance of 249.34 feet (250.00 feet, plat) to the Southeast corner of said Lot 5; thence North 8717'06" West along the South line of said Lot 5, 135.52 feet to the point of beginning. Less and except Lots 11, 12, 23 and 24, Block E, BISMARK PLACE and except that part of said Blocks that are now taken for right-of-way. AND

All that part of BLOCK 2, BOARD OF TRADE CENTER, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, more particularly described as follows: Beginning at the Northwest corner of said BLOCK 2; thence South 232'41" West along the West line of said BLOCK 2, being also the East line of BLOCK G, BISMARK PLACE, a subdivision in said City, County and State, according to the recorded plat thereof, a distance of 313.82 feet to the Point of Beginning of a tract of land to be herein described; thence South 8717'55" East, 195.08 feet, more or less to a point on the East line of said BLOCK 2; thence South 232'41" West, along the East line of said BLOCK 2 a distance of 18.84 feet; thence North 8727'19" West along a jog in the East line of said BLOCK 2, a distance of 24.00 feet; thence South 231'41" West along the East line of said BLOCK 2, a distance of 238.88 feet; thence South 8727'19" East along a jog in the East line of said BLOCK 2, a distance of 12.50 feet; thence South 232'41" West along the East line of said BLOCK 2, a distance of 49.82 feet, to a point on the South line of said BLOCK 2, being also the North right-of-way line of 50th Street, as now established; thence North 8707'13" West along the South line of said BLOCK 2 and said North right-of-way line, a distance of 183.59 feet, more or less to the Southwest corner of said BLOCK 2, being also a point on the East line of said BLOCK G; thence North 232'41" East along the West line of said BLOCK 2 and along the East line of said BLOCK G, a distance of 307.00 feet to the Point of Beginning. Also, all of Block 3, BOARD OF TRADE CENTER, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

 

Section 4. The City Council hereby finds that:

 

(a) The Redevelopment Area as a whole is a conservation area, and 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;

 

(b) The Redevelopment Plan conforms to the comprehensive plan for the development of the City as a whole;

 

(c) The estimated dates of completion of the respective Redevelopment Projects and retirement of any 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;

 

(d) A plan has been developed for relocation assistance for businesses and residences.

 

Section 5. The Commission is authorized to issue obligations in one or more series secured by the Country Club Plaza Tax Increment Financing Plan Account of the Special Allocation Fund to finance Redevelopment Project Costs 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.

 

Section 6. Any obligations authorized herein shall contain a recital that they are issued pursuant to Sections 99.800 to 99.865 of the Missouri Real Property Tax Increment Allocation Redevelopment Act.

 

Section 7. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds that are deposited into the Country Club Plaza Tax Increment Financing Plan Account of the Special Allocation Fund to the payment of Redevelopment Project Costs and obligations, and authorizes the Commission to pledge such funds on its behalf.

 

__________________________________________________________________

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney