KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 170424 Introduction Date: 6/8/2017
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting and approving the recommendations of the Tax Increment Financing Commission of Kansas City as to the Third Amendment to the Antioch Crossing Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
6/7/2017 Filed by the Clerk's office
6/8/2017 Referred to Planning, Zoning & Economic Development Committee
6/14/2017 Advance and Do Pass, Debate
6/15/2017 Passed

View Attachments
FileTypeSizeDescription
170424.pdf Authenticated 127K Authenticated
170424 Related Docs.pdf Related Documents 285K Related Documents
170424 TIF Plan.pdf TIF Plan 121K TIF Plan
170424 Fact Sheet.pdf Fact Sheet 222K Fact Sheet
Antioch Crossing TIF Plan - 3rd Amendment Ordinance (00195297).docx Request for Ordinance 25K Antioch Crossing TIF Plan 3rd Amendment Ordinance

Printer Friendly Version

ORDINANCE NO. 170424

 

Accepting and approving the recommendations of the Tax Increment Financing Commission of Kansas City as to the Third Amendment to the Antioch Crossing Tax Increment Financing Plan.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”), the City Council of Kansas City, Missouri (the “Council”) by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, Ordinance No. 100089, passed on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 (the “Authorizing Ordinances”) created the Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”); and

 

WHEREAS, on April 12, 2012, the Council passed Ordinance No. 120083, which accepted the recommendations of the Commission as to the Antioch Crossing Tax Increment Financing Plan (the “Redevelopment Plan” or “Plan”), approved the Redevelopment Plan, found the Redevelopment Area to be a blighted 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 Redevelopment Plan; and

 

WHEREAS, the First Amendment to the Plan provides for an increase to the budget of Redevelopment Project Costs and further provides that the Redeveloper intends to procure conventional financing, rather than request the Commission to issue tax increment revenue bonds. The First Amendment to the Plan was approved by the Council by Ordinance No. 121006, passed December 13, 2012; and 

 

WHEREAS, the Second Amendment to the Plan provides for a modification of the Redevelopment Schedule for the completion of Redevelopment Projects 1-3 by extending the date of completion from 2014 to 2016. Furthermore, the Second Amendment to the Plan provides for modifications to the boundaries and legal descriptions of Redevelopment Project Areas 1A, 2A, 2B and 3 to conform to the most recent plats for such property. The Second Amendment to the Plan was approved by the Council by Committee Substitute for Ordinance No. 140908 passed on October 30, 2014; and 

 

WHEREAS, the Third Amendment to the Plan was presented to the Commission; and

 

WHEREAS, the Commission, having been duly constituted and its members appointed, after all proper notice was given, met in public hearing and, after receiving the comments of all interested persons and taxing districts, closed the public hearing on May 10, 2017, and adopted Resolution No. 5-5-17 (“Resolution”) recommending that the Council approve the Third Amendment to the Plan; and 

 

WHEREAS, the Third Amendment to the Plan provides for (i) modifications to the boundary and legal description of the Redevelopment Area, (ii) modifications to the description of public improvements contemplated by the Plan, (iii) a modification to the stated most recent equalized assessed value of the Redevelopment Area, and (iv) modifications to the Budget of Redevelopment Project Costs; NOW, THEREFORE, 

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY: 

 

Section 1. That the recommendations of the Commission concerning the Third Amendment to the Plan as set forth in the Resolution attached hereto as Exhibit “A” are accepted and the Third Amendment to the Plan, a copy of which is attached as Exhibit “B”, is approved and adopted as a valid amendment to the Redevelopment Plan. 

 

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 Council finds that: 

 

(a) Good cause has been shown for the Third Amendment to the Plan, and that the findings of the City Council in Ordinance Nos. 120083, 121006, and 140908 with respect to the Redevelopment Plan are not affected by the Third Amendment to the Plan and apply equally to the Third Amendment to the Plan; 

 

(b) The Redevelopment Area, as amended by the Third Amendment to the Plan, is a blighted 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; 

 

(c) The areas identified by the Third Amendment to the Plan as Redevelopment Projects include only those parcels of real property and improvements which will be directly and substantially benefited by the Redevelopment Project improvements; 

 

(d) The Redevelopment Plan, as amended by the Third Amendment to the Plan, and each Redevelopment Project described therein, conform to the comprehensive plan for the development of the City as a whole; 

 

(e) The estimated dates of completion of the respective Redevelopment Projects and retirement of any obligations incurred to finance Redevelopment Project Costs have been stated in the Redevelopment Plan, as amended by the Third Amendment to the Plan, and are not more than 23 years from the passage 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 located within the Redevelopment Area, as amended by the Third Amendment to the Plan; 

 

(g) The Third Amendment to the Plan does not alter the cost-benefit analysis previously incorporated within the Redevelopment Plan;  

 

(h) The Third Amendment to the Plan does not include the initial development or redevelopment of any gambling establishment; and 

 

(i) A study has been completed and the findings of such study satisfy the requirements set out in subdivision (1) of Section 99.810, RSMo. 

  

____________________________________________________

 

Approved as to form and legality:

 

 

__________________________________

Brian T. Rabineau

Assistant City Attorney