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Legislation #: 911443 Introduction Date: 11/21/1991
Type: Ordinance Effective Date: 8/19/2001
Sponsor: COUNCILMEMBER BACCHUS
Title: Approving Redevelopment Project 8 of the Winchester Center Tax Increment Financing Plan as a Redevelopment Project and adopting Tax Increment Financing therein.

Legislation History
DateMinutesDescription
11/21/1991

Prepare to Introduce

11/21/1991

Referred Plans And Zoning Committee

11/26/1991

Hold Off Agenda

1/20/1993

Hold Off Agenda

7/14/1993

Hold Off Agenda

1/19/1994

Hold Off Agenda

7/27/1994

Hold Off Agenda

7/12/1995

Hold Off Agenda

1/24/1996

Hold Off Agenda

1/21/1998

Hold Off Agenda

7/8/1998

Hold Off Agenda

1/20/1999

Hold Off Agenda

7/21/1999

Hold Off Agenda

1/17/2001

Hold Off Agenda

7/25/2001

Do Pass

7/26/2001

Add to Consent Docket

8/2/2001

Held on Docket

8/9/2001

Passed


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ORDINANCE NO. 911443

 

Approving Redevelopment Project 8 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 8 legally described as:

 

All that part of Lots 3, 4, 5 and 7, and all of Lot 6, SWOPE ACRES, a subdivision, according to the recorded plat thereof, together with that part of 63rd Street and that part of the Northwest Quarter of Section 1, Township 48, Range 33, all in Kansas City, Jackson County, Missouri, being more particularly described as follows:

 

Beginning at a point on the Easterly right-of-way line of the Kansas City Southern Railway Company, 802.69 feet South of the Southerly right-of-way line of 63rd Street Trafficway, as now established; thence Easterly along a straight line, perpendicular to the last described course, a distance of 500 feet; thence Southeasterly along a straight line, deflecting 2608'39" to the right from the last described course, a distance of 502.53 feet; thence Southwesterly, perpendicular to the last described course, 92.76 feet; thence Southwesterly, Southerly and Southeasterly along a curve to the left, tangent to the last described course, having a radius of 404.13 feet, and a central angle of 8632'36", an arc distance of 610.42 feet; thence Southwesterly along a straight line, normal to the last described curve, a distance of 338.06 feet to a point on a line, 125 feet North of and parallel with the North right-of-way line of 64th Street, as now established; thence Westerly along said parallel line, a distance of 845 feet, more or less, to a point on the Easterly right-of-way line of said Kansas City Southern Railway Company; thence generally Northerly along a curve to the right, having a radius of 1835.08 feet and a central angle of 1452'21", an arc distance of 476.34 feet; thence North along said Easterly right-of-way line, 644.63 feet to the Point of Beginning.

 

is hereby approved.

 

Section 3. Tax increment allocation financing is hereby adopted for Redevelopment Project 8. After the total equalized assessed valuation of the taxable real property in the area selected for Redevelopment Project 8 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 8 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 8 over and above the initial equalized assessed value of each such unit of property in the area selected for Redevelopment Project 8 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 8 over the amount of such taxes generated by economic activities within the area selected for Redevelopment Project 8 in the calendar year prior to the approval of Redevelopment Project 8 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