ORDINANCE NO. 991441

Approving the development plan submitted by the Tower Redevelopment Corporation for the Commerce Trust Building Project on approximately a 0.41 acre tract of land generally located at the northwest corner of 10th Street and Walnut Street; declaring the area included in such plan to be a blighted area and its redevelopment necessary for the preservation of the public peace, prosperity, health, safety, morals and welfare; authorizing the Director of Finance to enter into a contract with the Tower Redevelopment Corporation; authorizing certain tax abatement within the plan area; and authorizing the Mayor to issue a Certificate of Public Convenience and Necessity authorizing Tower Redevelopment Corporation to acquire certain property by the power of eminent domain.

WHEREAS, Tower Redevelopment Corporation, an urban redevelopment corporation organized under and pursuant to the Urban Redevelopment Corporations Law and amendments thereto, did on August 25, 1998, as revised on July 23, 1999, and September 10, 1999, file with the City Clerk an application for approval of a development plan for the Commerce Trust Building Project which contemplated the redevelopment of a tract of land generally located at the northwest corner of 10th Street and Walnut Street; and

WHEREAS, the City Clerk did refer said application for a development plan to the City Plan Commission; and

WHEREAS, the City Plan Commission did cause to be published in The Daily Record, a newspaper doing the City's printing, on October 6, 1998, and on August 23, 1999, that date being not less than ten days prior to the date set for the hearing, notice of the public hearing on said development plan; and

WHEREAS, said City Plan Commission did hold a public hearing on said development plan on September 7, 1999, and

WHEREAS, at the public hearing conducted by the City Plan Commission, all interested parties were given an opportunity to be heard at said public hearing; and

WHEREAS, the City Plan Commission has made a study and investigation of the proposed development plan and did, on September 7, 1999, recommend approval of said development plan including a recommendation of approval concerning the finding of blight, and did submit a report of the same, a copy of which is attached hereto and incorporated herein by reference as Exhibit "A"; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the development plan for the Commerce Trust Building Project submitted by the Tower Redevelopment Corporation, a copy of which is on file in the office of the City Clerk under Document No. 991441, which is attached hereto and incorporated herein by reference, is hereby approved.

Section 2. That the Council finds and declares that the area being described in the aforesaid development plan submitted by the Tower Redevelopment Corporation is a blighted area as defined by Section 353.020(2), Revised Statutes of Missouri, and Section 74-4, Code of

Ordinances of the City of Kansas City, Missouri, and the redevelopment thereof is necessary for the public convenience and necessity; and that approval of the development plan and construction of the redevelopment project are necessary for the preservation of the public peace, prosperity, health, safety, morals and welfare.

Section 3. That the Director of Finance be, and she is hereby, authorized and directed on behalf of the City to enter into a contract with the Tower Redevelopment Corporation, a copy of which, in substantial form, is attached hereto and made a part hereof as Exhibit "B".

Section 4. That the Tower Redevelopment Corporation is hereby granted tax abatements on land and improvements as provided in Exhibit "B".

Section 5. That the Council hereby determines that the public convenience and necessity will be served by the development plan filed by the Tower Redevelopment Corporation and by the redevelopment project, and hereby grants to Tower Redevelopment Corporation a Certificate of Public Convenience and Necessity authorizing and empowering said corporation to acquire by the exercise of eminent domain that real property designated in the development plan and that the Mayor be, and she is hereby, authorized to execute and deliver said Certificate to Tower Redevelopment Corporation.

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I hereby certify that all public notices and hearings required by Chapter 74, Code of Ordinances of the City of Kansas City, Missouri, have been given and had.

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Secretary, City Plan Commission

Approved as to form and legality:

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Assistant City Attorney