ORDINANCE
NO. 210065
Approving the Fifth Amendment to the Linwood Shopping
Center Tax Increment Financing Plan; approving a second amendment to the Tax
Contribution and Disbursement Agreement related to this Plan; and directing the
City Clerk to transmit copies of this ordinance to Jackson County.
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24, 1982, and thereafter repealed and amended in certain respects by Committee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 June 16, 2016, the Council passed Ordinance No.
160448, which accepted the recommendations of the Commission as to the Linwood
Shopping Center Tax Increment Financing Plan (the “Redevelopment Plan” or
“Plan”), approved the Redevelopment Plan as a comprehensive effort intended to
reduce or eliminate blight and enhance the tax base within the Redevelopment
Area described by the Plan (“Redevelopment Area”) through the implementation of
certain improvements (the “Project Improvements”) within redevelopment projects
described by the Plan (“Redevelopment Projects”); and
WHEREAS, the Plan has been amended four times; and
WHEREAS, the Fifth Amendment to the Plan (the “Fifth Amendment”) provides
for (1) certain modifications to the
Budget Redevelopment Project Costs identified by the Plan, (2) certain
modifications to the Sources of Funds for all
estimated Redevelopment Project Costs identified by the Plan and (3) the inclusion of all conforming changes within the
Exhibits to the Plan that are in furtherance of the foregoing modifications;
and
WHEREAS, the Council previously approved
an Amended and Restated Tax Contribution and Disbursement Agreement with the
passage of Ordinance 200063 on February 13, 2020 and subsequently, a first
amendment to that Agreement by passage of Ordinance 200628; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Fifth Amendment to the Linwood Shopping
Center Tax Increment Financing Plan, a copy of which is attached to this
Ordinance as Exhibit A, is hereby approved.
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 Fifth Amendment to the Plan, and that the findings of the
City Council in Ordinance No. 160448, Committee Substitute for Ordinance
190524; Committee Substitute for Ordinance No. 200063, Committee Substitute for
Ordinance No. 200353 and Ordinance No. 200628 with respect to the Redevelopment
Plan, except as expressly indicated below, are not affected by the Fifth
Amendment to the Plan and apply equally to the Fifth Amendment to the
Plan;
(b) The Redevelopment
Area is a blighted area evidenced by aging and deteriorating site
improvements, excessive vacancy, obsolete platting and other blighting
conditions stated within the Redevelopment Act in Section 99.805(1) RSMo;
(c) The Redevelopment
Area has not been subject to growth and development through private enterprise
and would not reasonably be anticipated to be developed without the adoption of
tax increment financing, as contemplated the Redevelopment Plan;
(d) The Redevelopment
Plan, as amended by the Fifth Amendment and each Redevelopment Project
described therein, conform to the comprehensive plan for the development of the
City as a whole;
(e) The areas
identified by the Redevelopment Projects include only those parcels of real
property and improvements which will be directly and substantially benefited by
the Project improvements described by the Fifth Amendment;
(f) The estimated
dates of completion of the respective Redevelopment Projects and the retirement
of any 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 authorized by the
Plan;
(g) A plan has been
developed for relocation assistance for businesses and residences located
within the Redevelopment Area;
(h) A cost-benefit
analysis showing the impact of the implementation of the Plan on each taxing
district at least partially within the boundaries of the Redeveloped Area has
been prepared in accordance with the Act;
(i) The Fifth
Amendment to the Plan does not include the initial development or redevelopment
of any gambling establishment; and
(j) A study has been
completed and the findings of such study satisfy the requirements set out in
subdivision (1) of Section 99.810, RSMo.
Section 4. That the Council hereby approves the Second Amendment to
the Amended and Restated Tax Contribution and Disbursement Agreement
among the City, the Tax Increment Financing Commission of Kansas City,
Missouri, Linwood Shopping Center Redevelopment Company, LLC, UMB Bank, N.A.,
Cochran Head Vick & Co., P.C. and First American Title
Insurance Company, in substantial form as that attached to this ordinance
as Exhibit B, and authorizes the Director of Finance to execute the Second
Amendment.
Section 5. That the City Clerk shall send a copy of this
ordinance to the County Clerk and County Executive of Jackson County, Missouri.
_________________________________________________
Approved as to form and
legality:
_______________________________
Katherine Chandler
Assistant City Attorney