ORDINANCE NO. 900108
Approving and designating Phase XI of the Briarcliff West
Tax Increment Financing Plan as a Redevelopment Project Area and adopting Tax
Increment Financing therein.
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WHEREAS, the City Council of Kansas City, Missouri,
by Ordinance No. 54556 adopted on November 24, 1982, created the Tax Increment
Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on April 11, 1990, the Commission adopted a
resolution recommending to the City Council the adoption of a redevelopment
plan entitled the "Briarcliff West Tax Increment Financing Plan" (the
"Redevelopment Plan"); and
WHEREAS, on May 3, 1990, the City Council passed
Ordinance No. 65497, which accepted the recommendations of the Commission as to
the Redevelopment Plan; approved the Redevelopment Plan; declared the
Redevelopment Plan Area and each proposed Redevelopment Project Area as
blighted; approved Rock Quarry Redevelopment Corporation d/b/a Briarcliff West
as the Developer; approved an agreement with the Commission; and authorized the
execution of a development contract; and
WHEREAS, the Redevelopment Plan and Ordinance No.
65497 contemplate the designation of each phase of the Redevelopment Plan as a
separate Redevelopment Project Area at the discretion of the City Council and
the adoption of Tax Increment Financing therein; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. All terms used in this Ordinance shall
be con- strued as defined in Sections 99.800 to 99.865 of the Revised Statutes
of Missouri, as amended.
Section 2. The area set forth in the Redevelopment
Plan as Phase XI and legally described as follows:
PHASE XI
A tract of land in the fractional Southwest quarter
of Section 3, Township 50, Range 33, Kansas City, Clay County,
Missouri, being bounded and described as follows: Beginning at the
Northeast corner of the South one-half of said fractional Southwest
quarter, being also a point on the West Right of Way line of U.S. Highway
Route 169, as now established; thence South 0 37'03" West, along said
Right of Way line, 7.30 feet; thence North 89 16'26" West, along said
Right of Way line, 120.01 feet; thence South 4 24'34" West, along
said Right of Way line, 183.10 feet; thence North 89 17'08" West,
180.00 feet; thence South 0 42'52" West, 20.00 feet; thence
North 89 17'08" West, 50.00 feet; thence South 0 42'52" West,
60.00 feet; thence North 89 17'08" West, 150.00 feet; thence
North 0 42'52" East, 80.00 feet; thence North 89 17'08" West,
450.00 feet; thence North 0 42'52" East, 40.00 feet; thence
North 57 24'06" West, 85.45 feet; thence North 32 35'16"
East, 123.48 feet to a point on the North line of the South one-half
of said fractional Southwest quarter; thence South 89 17'08" East,
along said North line, 969.15 feet to the Point of Beginning. Containing
4.1006 acres, more or less. Subject to any and all easements and
restrictions of record.
is hereby designed as a blighted area and is further
approved and designated as the Phase XI Redevelopment Project Area.
Section 3. Tax increment allocation financing is
hereby adopted for the Phase XI Redevelopment Project Area. After the total
equalized assessed valuation of the taxable real property in the Phase XI
Redevelopment Project Area exceeds the certified total initial equalized
assessed value of all taxable real property in such Redevelopment Project Area,
the ad valorem taxes and payments in lieu of taxes, if any, arising from the
levies upon taxable real property in such Redevelopment Project Area 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:
(1) 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 Phase XI
Redevelopment Project Area 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;
(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
Phase XI Redevelopment Project Area over and above the initial equalized
assessed value of each such unit of property in the Phase XI
Redevelopments Project Area 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 Special Allocation Fund of the City for the purpose
of paying redevelopment project costs and obligations incurred in the
payment thereof.
Section 4. Pursuant to Section 99.835, RSMo, if the
City issues obligations secured by the Special Allocation Fund to carry out the
redevelopment project, the City may pledge all or any part of the funds in the
Special Allocation Fund to the payment of the redevelopment projects costs and
obligations. Any pledge of funds in the Special Allocation Fund may provide
for distribution to the taxing districts of moneys not required for payment and
securing of the obligations, and such excess shall be deemed to be surplus
funds. The Redevelopment Plan calls for all or part of the pay- ments in lieu of
taxes attributable to certain redevelopment project area phases to be treated
as surplus funds to the extent such moneys are not required for payment and
securing of the obligations. Such surplus funds shall be distributed annually
to the taxing districts in the redevelopment project area by being paid by the
City Treasurer to the Clay County Collector, who shall immediately thereafter
make distribution to the respective taxing districts in the same manner and
proportion as the most recent distribution by the Collector to the affected
districts of real property taxes from real property in the redevelopment
project area.
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Approved as to form and
legality:
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Assistant City Attorney