ORDINANCE NO. 911445
Approving Redevelopment Project 10 of the Winchester
Center Tax Increment Financing Plan as a Redevelopment Project and adopting Tax
Increment Financing therein.
WHEREAS, the City Council of Kansas City, Missouri
(the "City Council"), by Ordinance No. 54556 adopted on November 24,
1982, amended by Ordinance No. 911076 adopted on August 29, 1991, created the
Tax Increment Financing Commission of Kansas City, Missouri (the "Commission");
and
WHEREAS, on November 6, 1991, the Commission adopted
a resolution recommending to the City Council the adoption of a redevelopment
plan entitled the "Winchester Center Tax Increment Financing Plan"
(the "Redevelopment Plan"); and
WHEREAS, on ________________________, the City
Council adopted Ordinance No. 911435, which accepted the recommendations of the
Commission as to the Redevelopment Plan; approved the Redevelopment Plan; found
the Redevelopment Area to be a conservation area; designated the Redevelopment
Area as a redevelopment area pursuant to the Act; approved an agreement with
the Commission; and authorized the Commission to take all such action as may be
needed to effectuate the Plan; and
WHEREAS, the Redevelopment Plan and Ordinance No.
911435 contemplate the separate approval of each Redevelopment Project and the
adoption of Tax Increment Financing therein at the discretion of the City
Council; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. 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. The Redevelopment Project 10 legally
described as:
A 350 foot by 375 foot parcel of land situate in
the Northwest Quarter of Section 1, Township 48, Range 33, in Kansas
City, Jackson County, Missouri, being more particularly described as
follows:
Beginning at a point on the Southerly right-of-way
line of 63rd Street Trafficway, 962.97 feet Southeasterly from the
point of intersection with the East right-of-way line of the Kansas City
Southern Railway Company, as said trafficway and railroad are now both
established; thence continuing Southeasterly along said Southerly
right-of-way line, 350 feet; thence South, perpendicular to the last
described course, 375 feet; thence Northwesterly, parallel with said
Southerly right-of-way line, 350 feet; thence Northeasterly, perpendicular
to the last described course, 375 feet to the Point of Beginning.
All that part of the North Half of Section 1,
Township 48, Range 33, in Kansas City, Jackson County, Missouri,
being more particularly described as follows:
Beginning at a point of intersection of the
Southerly right-of-way line of 63rd Street Trafficway, as now
established with the East line of the Northwest Quarter of said Section 1,
884.33 feet North of the Southeast corner thereof; thence Southeasterly
and Easterly along said Southerly right-of-way line to a point of
intersection with the Westerly right-of-way line of Winchester Avenue, as
now established; thence Southeasterly along said Westerly right-of-way
line, 159.12 feet; thence Westerly along a straight line reflecting
14424'12" to the right from an initial tangent bearing of South
5115'47" East, a distance of 954.79 feet to a point on the East line
of the Northwest Quarter of said Section 1; thence continuing
Westerly along the last described course, a distance of 179.38 feet;
thence Northwesterly along a straight line, deflecting 2238'11" to
the right from the last described course, a distance of 489.95 feet;
thence Northeasterly along a straight line, deflecting 9235'50" to
the right from the last described course, a distance of 375 feet to a
point on the Southerly right-of-way line of said 63rd Street Trafficway; thence
Southeasterly along said Southerly right-of-way line, 429.43 feet to the
Point of Beginning.
All that part of the North Half of Section 1,
Township 48, Range 33, in Kansas City, Jackson County, Missouri,
being more particularly described as follows:
Beginning at a point on the East line of the
Northwest Quarter of said Section 1, 475.57 feet North of the center
of said Section 1; thence Northwesterly along a straight line, deflecting
7803'13" to the left from the last described course, a distance of
183.25 feet; thence Easterly along a straight line, deflecting
16910'16" to the right from the last described course, a distance
of 1110 feet, more or less, to a point on the Westerly right-of-way
line of Winchester Avenue, as now established; thence generally
Southeasterly along said Westerly right-of-way line to a point of
intersection with a line drawn, 350 North of and parallel with the
South line of the Northeast Quarter of said Section 1; thence West along
said parallel line, 570 feet; thence Northwesterly deflecting
1052'15" to the right from the last described course, a distance of
665.64 feet to the Point of Beginning.
is hereby approved.
Section 3. Tax increment allocation financing is
hereby adopted for Redevelopment Project 10. After the total equalized
assessed valuation of the taxable real property in the area selected for
Redevelopment Project 10 exceeds the certified total initial equalized assessed
value of all taxable real property in the area selected for such Redevelopment
Project, the ad valorem taxes and payments in lieu of taxes, if any, arising
from the levies upon taxable real property in the area selected for such
Redevelopment Project by taxing districts and tax rates determined in the
manner provided in Subsection 2 of Section 99.855, RSMo, each year after the
effective date of this ordinance until Redevelopment Project Costs have been
paid shall be divided as follows:
a. That portion of taxes levied upon each
taxable lot,
block, 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 Redevelopment Project 10 shall be allocated to and, when collected,
shall be paid by the Jackson 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.
b. 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 Redevelopment Project 10 over and above the initial
equalized assessed value of each such unit of property in the area
selected for Redevelopment Project 10 shall be allocated to and, when collected,
shall be paid to the City Treasurer, who shall deposit such payments in
lieu of taxes into the Winchester Center Special Allocation Fund of the
City for the purpose of paying Redevelopment Costs and obligations
incurred in the payment thereof.
Section 4. In addition to the payments in lieu of
taxes described above, and subject to annual appropriation, fifty percent (50%)
of the total additional revenue from taxes which are imposed by the
municipality or other taxing districts, and which are generated by economic
activities within the area selected for Redevelopment Project 10 over the
amount of such taxes generated by economic activities within the area selected
for Redevelopment Project 10 in the calendar year prior to the approval of
Redevelopment Project 10 by ordinance, while tax increment financing remains in
effect, but excluding taxes imposed on sales or 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 treasurer or other
designated financial officer of the municipality, who shall deposit such funds
in a separate segregated Winchester Center Economic Activities account within
the Winchester Center Special Allocation Fund for the retirement of obligations
or payment of Redevelopment Project Costs as defined in the Redevelopment Plan.
_____________________________________________
Approved as to form and
legality:
___________________________________
Assistant City Attorney