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Legislation #: 120698 Introduction Date: 7/26/2012
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBERS JAMES, JR., SHARP AND TAYLOR
Title: Approving and designating Redevelopment Project Area A of the Carondelet Drive Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefore.

Legislation History
DateMinutesDescription
7/26/2012 Filed by the Clerk's office
7/26/2012 Referred to Planning, Zoning & Economic Development Committee
8/1/2012 Hold Off Agenda
3/27/2013 Advance and Do Pass, Debate
3/28/2013 Passed

View Attachments
FileTypeSizeDescription
120698.pdf Authenticated 224K AUTHENTICATED
120698 Fact Sheet.docx Fact Sheet 31K Fact Sheet
Carondelet Drive TIF Plan Project A Request for Ordinance (00151108).DOCX Request for Ordinance 20K Carondelet Drive TIF Plan Project A Request for Ordinance

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ORDINANCE NO. 120698

 

Approving and designating Redevelopment Project Area A of the Carondelet Drive Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefore.

 

WHEREAS, the City Council accepted the recommendations of the Tax Increment Financing Commission of Kansas City, Missouri (“Commission”) as to the Carondelet Drive Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a blighted area; and

 

WHEREAS, the Redevelopment Plan contemplates the implementation of the Redevelopment Plan through a number of 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. That 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. That the area selected for Redevelopment Project Area A legally described as follows:

 

All that part of Lots 14, 15, 16, 17, 20, 21, 22 and 23, Ridenour Farm Tract, a subdivision of land in the Northeast Quarter of Section 6, Township 47 North, Range 33 West of the 5th Principal Meridian in Kansas City, Jackson County, Missouri, and all that part of Glen Arbor Road, as now established, being bounded and described as follows: Beginning at the Southwest corner of said Lot 23; thence North 13 degrees 03 minutes 02 seconds West, along the Westerly line of said Lots 20, 21, 22 and 23, 923.39 feet to a point on the Southerly right-of-way line of Carondelet Drive, as now established; thence Easterly, along said right-of-way line, along a curve to the left, having an initial tangent bearing of South 58 degrees 07 minutes 58 seconds East, with a radius of 390.00 feet, a central angle of 28 degrees 59 minutes 47 seconds and an arc distance of 197.37 feet; thence South 87 degrees 07 minutes 45 seconds East, continuing along said right-of-way line, 330.69 feet; thence Northeasterly, continuing along said right-of-way line, along a curve to the left, being tangent to the last described course, with a radius of 390.00 feet, a central angle of 74 degrees 51 minutes 12 seconds and an arc distance of 509.51 feet to the Northwest corner of said Lot 17; thence South 87 degrees 07 minutes 16 seconds East, along the North line of said Lot 17, 287.04 feet; thence South 21 degrees 54 minutes 20 seconds East, 271.51 feet to a point on the Northerly line of said Lot 16; thence South 87 degrees 08 minutes 26 seconds East, along said North line, 350.00 feet to the Northeast corner of said Lot 16; thence South 21 degrees 54 minutes 58 seconds East, along the Easterly line of said Lot 16, 231.36 feet to the Southeast corner thereof; thence North 87 degrees 05 minutes 40 seconds West, along the South line of said Lot 16, 198.16 feet to a point of the Westerly high bank of a creek, as shown on the Certificate of Survey by Tuttle-Ayers-Woodward Co., job number 226090 and dated June 11, 1992; thence South 12 degrees 45 minutes 54 seconds West, along said Westerly high bank 4.53 feet; thence South 15 degrees 27 minutes 29 seconds East, continuing along said Westerly high bank, 16.96 feet; thence South 10 degrees 00 minutes 11 seconds West, continuing along said Westerly high bank, 46.21 feet; thence South 67 degrees 27 minutes 44 seconds East, continuing along said Westerly high bank, 18.02 feet; thence South 53degrees 38 minutes 18 seconds East, continuing along said Westerly high bank, 15.28 feet; thence South 34 degrees 06 minutes 16 seconds East, continuing along said Westerly high bank, 16.98 feet; thence South 36 degrees 48 minutes 15 seconds East, continuing along said Westerly high bank, 18.90 feet; thence South 12 degrees 17 minutes 36 seconds East, continuing along said Westerly high bank, 18.79 feet; thence South 03 degrees 42 minutes 12 seconds West, continuing along said Westerly high bank, 21.77 feet; thence South 36 degrees 36 minutes 22 seconds East, continuing along said Westerly high bank, 17.11 feet; thence South 28 degrees 47 minutes 19 seconds West, continuing along said Westerly high bank, 28.19 feet; thence South 03 degrees 53 minutes 13 seconds West, continuing along said Westerly high bank, 22.39 feet to a point on the Northerly line of said Lot 14; thence South 87 degrees 03 minutes 40 seconds East, along said Northerly line, 241.59 feet to the Northeast corner thereof; thence South 21 degrees 54 minutes 58 seconds East, along the Easterly line of said Lot 14, 231.38 feet to the Southeast corner thereof; thence North 87 degrees 00 minutes 27 seconds West, along the Southerly line of said Lot 14, 922.01 feet to a point on the Westerly right-of-way line of said Glen Arbor Road; thence Southeasterly, along said right-of-way line, along a curve to the right, having an initial tangent bearing of South 46 degrees 05 minutes 00 seconds East, with a radius of 388.90 feet, a central angle of 29 degrees 53 minutes 58 seconds and an arc distance of 202.94 feet; thence South 16 degrees 11 minutes 03 seconds East, continuing along said right-of-way line, 92.48 feet to the Southeast corner of Lot 23; thence North 87 degrees 03 minutes 00 seconds West, along the Southerly line of said Lot 23, 905.11 feet to the Point of Beginning. Containing 30.47 acres, more or less.

 

is approved and designated by the Carondelet Drive Tax Increment Financing Plan as Redevelopment Project Area A (“Project Area A”).

 

Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project Area A. After the total equalized assessed valuation of the taxable real property in Project Area A exceeds the certified total initial equalized assessed valuation of the taxable real property in Project Area A, 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 project 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 of real property in the area selected for the Project Area A 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; and

 

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 Project Area A over and above the initial equalized assessed value of each such unit of property in the area selected for Project Area A shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payments in lieu of taxes, which are necessary to the payment of Project Area A Costs within the Redevelopment Area, 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 sixty (60) days of the due date shall be deemed delinquent and shall be assessed a penalty of one percent (1%) per month.

 

Section 4. That in addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, fifty percent (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 Project Area A over the amount of such taxes generated by economic activities within such area in the calendar year prior to the passage of this ordinance, while tax increment financing remains in effect, 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, which are necessary to the payment of Project Area A Costs within the Redevelopment Area, in a separate segregated account within the Special Allocation Fund for the purpose of paying Redevelopment Project Costs.

 

_____________________________________________

 

Approved as to form and legality:

 

  

______________________________

Brian T. Rabineau

Assistant City Attorney