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Legislation #: 200710 Introduction Date: 8/27/2020
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the Twentieth Amendment to the KCI Corridor Tax Increment Financing Plan; approving the Twentieth Amendment to the KCI Corridor Tax Increment Financing Plan; and directing the City Clerk to transmit copies of this ordinance.

Legislation History
DateMinutesDescription
8/26/2020 Filed by the Clerk's office
8/27/2020 Referred to Neighborhood Planning and Development Committee
9/16/2020 Advance and Do Pass, Debate
9/17/2020 Passed

View Attachments
FileTypeSizeDescription
00219668.pptx Other 621K Presentation
KCI Corridor TIF Plan, 20th Amendment, final (00220846xA7821).PDF TIF Plan 527K 20th Amendement to TIF Plan
200710.pdf Authenticated 130K Authenticated Ordinance
KCI Corridor TIF - 20th Amendment (DRAFT FOR WEBSITE) (00219508xA7821).PDF TIF Plan 1201K TIF Plan Amendment
Ordinance 200710 Presentation.pptx Staff Report 621K EDC Staff Presentation
fact sheet.xlsx Fact Sheet 25K fact sheet

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ORDINANCE NO. 200710

 

Accepting the recommendations of the Tax Increment Financing Commission of Kansas City as to the Twentieth Amendment to the KCI Corridor Tax Increment Financing Plan; approving the Twentieth Amendment to the KCI Corridor Tax Increment Financing Plan; and directing the City Clerk to transmit copies of this ordinance.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865, RSMo, as amended (the “Act”), the City Council of Kansas City, Missouri (the “City Council”) by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, Ordinance No. 100089, passed on January 28, 2010, Ordinance No. 130986, passed on December 19, 2013, and Committee Substitute for Ordinance No. 140823, As Amended, passed on June 18, 2015, created Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”); and

 

WHEREAS, the City Council accepted the recommendations of the Commission, approved the KCI Corridor Tax Increment Financing Plan (the “Plan”) and designated a Redevelopment Area in Ordinance No. 990256; and 

 

WHEREAS, the City Council, by its passage of a series of ordinances, has amended the Redevelopment Plan on numerous occasions since it was first approved; and

 

WHEREAS, an Twentieth Amendment to the Plan (“Twentieth Amendment”) was proposed to the Commission and the Commission, having been duly constituted and its members appointed, after proper notice was given, met in public hearing, and after receiving the comments of all interested persons and taxing districts, closed the public hearings; and  

 

WHEREAS Twentieth Amendment to the Plan provides for the (1) the addition of Public Improvement 7D, Old Tiffany Springs Road from Line Creek Parkway west to Genesis Trail subdivision to the Plan and (2) modifications to the Budget Redevelopment Project Costs to include the cost of Project 7D, and (3) the inclusion of all conforming changes within the Exhibits to the Plan that are in furtherance of the foregoing modifications and was approved by the Commission on August 11, 2020, by adoption of Resolution No. 8-4-20; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the recommendations of the Commission concerning the Twentieth Amendment and are hereby accepted and the Twentieth Amendment, a copy of which is attached hereto, is hereby approved.

 

Section 2. That all terms used in this ordinance, not otherwise defined herein, shall be construed as defined in the Act.  

 

Section 3. That the City Council hereby finds that good cause has been shown for the amendment of the Plan and that the findings of the Council with regard to each of the previous amendments are not affected by the Twentieth Amendment and apply equally to the Twentieth Amendment.  

 

Section 4. That in accordance with the recommendations of the Commission, the City Council hereby finds that: 

 

a. The Redevelopment Area as a whole is an economic development area, as defined in Section 99.805(5) of the Act, 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. The lack of sufficient street improvements, interchanges, and other infrastructure has inhibited the development of the Redevelopment Area.  

 

b. The Twentieth Amendment conforms to the comprehensive plan for the development of the City as a whole.  

 

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

 

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

 

e. The Twentieth Amendment includes a plan for relocation assistance for businesses and residences.  

 

f. A cost-benefit analysis showing the impact of the Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act. 

 

g. The Twentieth Amendment does not include the initial development or redevelopment of any gambling establishment.

 

h. A study has been completed and the findings of such study satisfy the requirements provided under Section 99.810, RSMo.  

 

Section 5. That the Commission is authorized to issue obligations in one or more series of bonds secured by the KCI Corridor Tax Increment Financing 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. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 to 99.865 of the Act, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.  

 

Section 6. That the City Council approves the pledge of all funds that are deposited into the KCI 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.

 

Section 7. That the City Clerk shall transmit a copy of this ordinance to Platte County.

 

_____________________________________________

 

Approved as to form and legality:

  

 

______________________________

Katherine Chandler

Assistant City Attorney