ORDINANCE NO. 120685

Accepting the recommendations of the Tax Increment Financing Commission as to the Towne Center Tax Increment Financing Plan; approving the Towne Center Tax Increment Financing Plan; and designating a Redevelopment Area.

WHEREAS, the Towne Center Tax Increment Financing Plan (the “Redevelopment Plan”) was proposed to the Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”); and

  WHEREAS, the Redevelopment Plan is a comprehensive program intended to reduce or eliminate blight and enhance the tax base within the redevelopment area (the “Redevelopment Area”) through the implementation of a number of separate projects (“Redevelopment Projects”) and the adoption of tax increment financing for each of the areas selected for such Redevelopment Projects; and

  WHEREAS, the Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts with respect to the Redevelopment Plan, closed said public hearing on May 9, 2012, and adopted its Resolution No. 5-5-12 (the “Resolution”) recommending to the City Council the approval of the Redevelopment Plan; and

WHEREAS, the Redevelopment Plan will include construction of retail and office space and necessary infrastructure; NOW, THEREFORE,

  BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the recommendation of the Commission concerning the Towne Center Tax Increment Financing Plan as set forth in the Resolution attached hereto as Exhibit "A", is hereby accepted and the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B", is hereby approved and adopted.

Section 2. That 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 (the "Act").

Section 3. That the following described area is hereby designated a Redevelopment Area:

All that part of the Southeast Quarter of Section 9, the Southwest Quarter of Section 10, the Northwest Quarter of Section 15, and the Northeast Quarter of Section 16, all in Township 51 North, Range 32 West, of the Fifth Principal Meridian, in the City of Kansas City, Clay County, Missouri, more particularly described as follows: commencing at the northeast corner of the Northeast Quarter of said Section 16, said point being the common corner to Sections 9, 10, 15, and 16, thence South 88 degrees 42 minutes 51 seconds East, with the north line of the Northwest Quarter of said Section 15, a distance of 871.30 feet to a point on the west right-of-way of Shoal Creek Parkway, said point being the point of beginning; thence South 25 degrees 05 minutes 50 seconds West, with the west right-of-way of Shoal Creek Parkway, a distance of 621.24 feet; thence North 64 degrees 41 minutes 18 seconds West, and no longer with the west right-of-way of Shoal Creek Parkway, a distance of 126.89 feet to a point of curvature; thence on a curve to the right having a radius of 1145.00 feet, a central angle of 33 degrees 54 minutes 41 seconds, an arc distance of 677.69 feet to a point on the east line of the Northeast Quarter of said Section 16; thence continuing on a curve to the right with a radius of 1145.00 feet, a central angle of 04 degrees 28 minutes 30 seconds, an arc distance of 89.43 feet to a point on the south line of the Southeast Quarter of said Section 9; thence continuing on a curve to the right having a radius of 1145.00 feet, a central angle of 00 degrees 51 minutes 54 seconds, an arc distance of 17.29 feet; thence North 25 degrees 26 minutes 13 seconds West, a distance of 93.54 feet to a point of curvature; thence on a curve to the left having a radius of 1555.00 feet, a central angle of 33 degrees 30 minutes 16 seconds, an arc distance of 909.31 feet; thence North 58 degrees 56 minutes 29 seconds West, a distance of 40.65 feet; thence on a curve to the right having a radius of 325.00 feet, a central angle of 14 degrees 05 minutes 17 seconds, with an initial tangent bearing of North 43 degrees 24 minutes 42 seconds East, an arc distance of 79.91 feet; thence North 57 degrees 29 minutes 59 seconds East, a distance of 185.91 feet to a point of curvature; thence on a curve to the left having a radius of 375.00 feet, a central angle of 07 degrees 05 minutes 15 seconds, an arc distance of 46.39 feet; thence North 50 degrees 24 minutes 44 seconds East, a distance of 131.76 feet; thence North 39 degrees 35 minutes 16 seconds West, a distance of 437.39 feet; thence North 50 degrees 24 minutes 44 seconds East, a distance of 268.51 feet; thence North 08 degrees 12 minutes 50 seconds West, a distance of 348.25 feet to a point on the south right-of-way of Missouri Highway Route 152; thence North 81 degrees 47 minutes 10 seconds East, with the south right-of-way of Missouri Highway Route 152, a distance of 442.04 feet; thence continuing with the south right-of-way of Missouri Highway Route 152, North 83 degrees 36 minutes 45 seconds East, a distance of 90.18 feet to a point on the west line of the Southwest Quarter of said Section 10; thence continuing North 83 degrees 36 minutes 45 seconds East, with the south right-of-way of Missouri Highway Route 152, a distance of 371.10 feet; thence continuing with the south right-of-way of Missouri Highway Route 152, South 78 degrees 22 minutes 36 seconds East, a distance of 405.76 feet; thence continuing with the south right-of-way of Missouri Highway Route 152, on a curve to the left having a radius of 1497.40 feet, a central angle of 15 degrees 59 minutes 31 seconds, with an initial tangent bearing of South 78 degrees 30 minutes 06 seconds East, an arc distance of 417.95 feet; thence South 72 degrees 35 minutes 51 seconds East, continuing with the south right-of-way of Missouri Highway Route 152, a distance of 86.95 feet; thence continuing with the south right-of-way of Missouri Highway Route 152, South 00 degrees 35 minutes 18 seconds West, a distance of 190.00 feet; thence continuing with the south right-of-way of Missouri Highway Route 152, South 89 degrees 24 minutes 42 seconds East, a distance of 43.09 feet to a point on the west right-of-way of Shoal Creek Parkway; thence with the west right-of-way of Shoal Creek Parkway on a curve to the right having a radius of 3557.05 feet, a central angle of 23 degrees 42 minutes 52 seconds, with an initial tangent bearing of South 01 degrees 22 minutes 58 seconds West, an arc distance of 1472.24 feet; thence continuing with the west right-of-way of Shoal Creek parkway, South 25 degrees 05 minutes 50 seconds West, a distance of 317.19 feet to the point of beginning. The above described tract contains 3,484,800 square feet, or 80.00 acres.

and

All that part of the Southeast Quarter of Section 16, Township 51 North, Range 32 West, in the City of Kansas City, Clay County, Missouri, more particularly described as follows: commencing at the northeast corner of the Southeast Quarter of said Section 16, thence South 89 degrees 58 minutes 52 seconds West, with the north line of the Southeast Quarter of said Section 16, a distance of 312.24 feet to a point on the west right-of-way line of Shoal Creek Parkway; thence South 25 degrees 05 minutes 50 seconds West, with the west right-of-way line of Shoal Creek Parkway, a distance of 871.52 feet to the point of beginning; thence continuing South 25 degrees 05 minutes 50 seconds West with the west right-of-way line of Shoal Creek Parkway, a distance of 598.39 feet to a point of curvature; thence continuing with the westerly right-of-way line of Shoal Creek Parkway on a curve to the right having a radius of 1357.22 feet, a central angle of 49 degrees 02 minutes 25 seconds, an arc distance of 567.16 feet; thence South 49 degrees 02 minutes 25 seconds West, continuing with the westerly right-of-way line of Shoal Creek Parkway, a distance of 120.54 feet; thence South 62 degrees 07 minutes 52 seconds West, continuing with the westerly right-of-way line of Shoal Creek Parkway, a distance of 220.74 feet to a point on the easterly right-of-way line of Interstate 435; thence North 34 degrees 57 minutes 17 seconds West, with the easterly right-of-way line of Interstate 435, and no longer with the westerly right-of-way line of Shoal Creek Parkway, a distance of 963.21 feet; thence North 20 degrees 57 minutes 35 seconds West, continuing with the easterly right-of-way line of Interstate 435, a distance of 432.74 feet; thence North 90 degrees 00 minutes 00 seconds East, and no longer with the easterly right-of-way line of Interstate 435, a distance of 447.85 feet; thence North 56 degrees 24 minutes 55 seconds East, a distance of 543.67 feet; thence South 64 degrees 54 minutes 10 seconds East, a distance of 756.68 feet to the point of beginning. The above described tract contains 1306852 square feet, or 30.00 acres.

and

Lot 3, Lot 4 lying in Section 10, Tract C, and Tract D of The Village Fifth Plat, Kansas City, Clay County, Missouri.

and

Lot 4 of The Village Fifth Plat lying in Section 11, Kansas City, Clay County, Missouri.

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

(a)                The Redevelopment Area as a whole is a blighted area, evidenced by defective or inadequate street layout, unsanitary or unsafe conditions including deterioration and dilapidation of site improvements, excessive vacancies, presence of structures below minimum code standards, lack of ventilation, light or sanitary facilities;

(b)               The Redevelopment Area 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;

(c) The Redevelopment Plan conforms to FOCUS, the comprehensive plan for the development of the City as a whole;

(d) 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;

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

(f) A plan has been developed for relocation assistance for businesses and residences; 

(g) A cost-benefit analysis showing the impact of the Redevelopment Plan on each taxing district at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act;

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

(i) A blight study has been completed and the findings of such study satisfy the requirements provided under subdivision (1) of Section 99.805, RSMo.

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

Section 6. That pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds that are deposited into the Towne Center 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. 

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Approved as to form and legality: 

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Brian T. Rabineau

Assistant City Attorney