ORDINANCE NO. 070308
Accepting the recommendations of
the Tax Increment Financing Commission as to the Third Amendment to the Twelfth
and Wyandotte Tax Increment Financing Plan; and approving the Third Amendment
to the Twelfth and Wyandotte Tax Increment Financing Plan.
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, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the Commission); and
WHEREAS, on December 10, 1992, the City Council passed Ordinance No. 921351, which accepted the
recommendations of the Commission as to the Twelfth and Wyandotte Tax Increment
Financing Plan (the Redevelopment Plan) and designated the Redevelopment Area
therein to be a conservation area; and
WHEREAS, a First
Amendment to the Redevelopment Plan entitled the First Amendment to the Twelfth
and Wyandotte Tax Increment Financing Plan (the First Amendment) was approved
on February 2, 2006, by the passage of Ordinance No. 060100; and
WHEREAS, a Second
Amendment to the Redevelopment Plan entitled the Second Amendment to the
Twelfth and Wyandotte Tax Increment Financing Plan (the Second Amendment) was
approved on June 6, 2006, by the passage of Ordinance No. 060609; and
WHEREAS a third amendment
to the Redevelopment Plan entitled the Third Amendment to the Twelfth and
Wyandotte Tax Increment Financing Plan (the Third Amendment) was proposed to
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 February 14, 2007, and adopted Resolution No. 2-19-07 (the
Resolution) recommending that the City Council approve the Third Amendment;
and
WHEREAS, the Third
Amendment provides for the estimated redevelopment project costs to accurately
reflect current estimates; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. The
recommendations of the Commission concerning the Third Amendment to the Twelfth
and Wyandotte Tax Increment Financing Plan as set forth in the Resolution
attached hereto as Exhibit A are hereby accepted and the Third Amendment, a
copy of which is attached hereto as Exhibit B, is hereby approved and adopted
as valid and the Redevelopment Project contained therein is hereby authorized.
Section 2. All
terms used in this ordinance, not otherwise defined herein, shall be construed
as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as
amended (the Act).
Section 3. The
Council hereby finds that:
(a) Good cause has been shown for amendment of the Redevelopment
Plan, and that the findings of the Council in Ordinance No. 921351, 060100, and
060609 with respect to the Redevelopment Plan are not affected by the Third Amendment
and apply equally to the Third Amendment;
(b) The Redevelopment Area, as amended, is a conservation area,
as a whole, 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, as amended, and the
Second Amendment; the factors causing it to be a conservation area are
deterioration; dilapidation; abandonment; excessive vacancies; structures below
minimum code requirements; lack of ventilation, light or sanitary features; and
depreciation of physical maintenance;
(c) The Redevelopment Plan, as amended, confirms to the
comprehensive plan for the development of the City as a whole;
(d) The areas selected for Redevelopment Projects include only
those parcels of real property and improvements therein which will be directly
and substantially benefited by the Redevelopment Project improvements;
(e) The estimated dates of completion of the respective
Redevelopment Projects and retirement of obligations incurred to finance
Redevelopment Project Costs, have been stated in the Redevelopment Plan, as
amended, and are not more than 23 years from the adoption of any ordinance
approving a Redevelopment Project within the Redevelopment Area, as amended;
(f) A plan has been developed for relocation assistance for
businesses and residences;
(g) A cost benefit analysis showing the impact of the Third 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 Third 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 Twelfth and Wyandotte Account of the Special Allocation Fund to
finance Redevelopment Project Costs within the Redevelopment Area, as amended,
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 stake all such further actions as are reasonably necessary to
achieve the objectives of the Redevelopment Plan, as amended, 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 and 99.865, which recital shall be conclusive
evidence of their validity and of the regularity of their issuance.
Section 5.
Pursuant to the provisions of the Redevelopment Plan, as amended the City
Council approves the pledge of all funds generated from Redevelopment Projects
that are deposited into the Twelfth and Wyandotte Account of the Special
Association Fund to the payment of Redevelopment Project Costs within the
Redevelopment Area, as amended, and authorizes the Commission to pledge such
funds on its behalf.
Section 6.
Notwithstanding anything to the contrary in the preceding sections of this
ordinance and in accordance with the customary policies and procedures of the
City relating to its condemnation processes, no final order for condemnation of
any property for any project within the Twelfth and Wyandotte Tax Increment
Financing Plan shall be entered unless and until such time as any necessary
private third-party or public financing for the construction of such project
and the parking garage to be owned by the City as called for in the plan
(Project No. 2(a)) has closed and proceeds from such financing are available
for constructing such project and/or such parking garage.
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Approved as to form and legality:
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Heather A. Brown
Assistant City Attorney