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Legislation #: 001378 Introduction Date: 10/12/2000
Type: Ordinance Effective Date: 10/29/2000
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Second Amendment to the Brush Creek Corridor Tax Increment Financing Plan approving the Second Amendment to the Brush Creek Corridor Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
10/12/2000

Prepare to Introduce

10/12/2000

Referred Planning, Zoning & Economic Development Committee

10/18/2000

Advance and Do Pass

10/19/2000

Passed


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ORDINANCE NO. 001378

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Second Amendment to the Brush Creek Corridor Tax Increment Financing Plan approving the Second Amendment to the Brush Creek Corridor Tax Increment Financing Plan.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended (the "Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, the Brush Creek Corridor Tax Increment Financing Plan (the "Plan") was approved by the Commission and passed by the City Council on March 11, 1999, by Ordinance No. 990251 ("the Ordinance"); and

 

WHEREAS, an amendment to the Plan entitled "The First Amendment to the Brush Creek Corridor Tax Increment Financing Plan" (the "First Amendment") affecting the area described therein was proposed to the Commission; and

 

WHEREAS, the First Amendment expanded the boundaries of the Redevelopment Area described in the Plan, designates the Redevelopment Area, as amended, as a Conservation Area under the Act and discusses the possibility of additional Redevelopment Project Areas within the expanded area; and

 

WHEREAS, after all proper notice was given, the Commission met in public hearing regarding the First Amendment, which hearing was continued from time to time until February 9, 2000, at which time, after receiving the comments of all interested persons and taxing districts, the Commission approved Resolution No. 2_1_00 (the "Resolution") recommending to the City Council the approval of the First Amendment; and

 

WHEREAS, the Council accepted the recommendations of the Commission and approved the First Amendment on June 8, 2000, by passage of Committee Substitute for Ordinance No. 000606; and

 

WHEREAS, an amendment to the Plan was proposed to the Commission (the Second Amendment); and

 

WHEREAS, the Second Amendment provides for the addition of the Plaza East Project to the Plan in four phases; and

 

WHEREAS, after all proper notice was given, the Commission met in public hearing on the Second Amendment on September 22, 2000, at which time after receiving the comments of all interested persons and taxing districts the Commission approved Resolution No. 9-16-00 (the Resolution) recommending approval of the Second Amendment; NOW, THEREFORE,

 


BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendations of the Commission concerning the Second Amendment as set forth in the Resolution attached hereto as Exhibit "A" are hereby accepted and the Second Amendment, a copy of which is attached hereto as Exhibit "B," is hereby approved and adopted as valid and the Plaza East Project contained therein is hereby authorized.

 

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. In accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

 

A. The Redevelopment Area described in the Second Amendment qualifies as a Conservation Area as evidenced by the following factors:

 

Approximately 85% of the structures located therein are older than 35 years; many of said buildings are dilapidated, functionally obsolete, below current code standards and exhibit excessive vacancies and other conditions indicating blight.

 

B. The Redevelopment Area described in the Second Amendment has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be redeveloped without the adoption of the Amendment, all as certified to by proposed Redevelopers.

 

C. The Second Amendment conforms to FOCUS, the comprehensive plan for the development of the City as a whole, and the Area Plans applicable to the Redevelopment Project Area.

 

D. The areas selected for the Redevelopment Project include only those parcels of real property and improvements thereon which will be directly and substantially benefitted by the Redevelopment Project Improvements.

 

E. The estimated dates of completion of the Redevelopment Project and retirement of obligations incurred to finance Redevelopment Project Costs have been stated in the Amendment and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area.

 

F. The Second Amendment includes a plan for relocation assistance for businesses and residences.

 

G. A cost_benefit analysis showing the impact of the Second 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.

 

H. The Second Amendment does not include the initial development or redevelopment of any gambling establishment.

 

Section 4. The Commission is authorized to issue obligations in one or more series of bonds secured by the Second Amendment to the Brush Creek Corridor Tax Increment 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 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.

 

Section 5. The City Council approves the pledge of all funds that are deposited into the Second Amendment to the Brush Creek Corridor 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.

 

__________________________________________________________________

 

Approved as to form and legality:

 

 

 

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Assistant City Attorney