ORDINANCE NO. 060916
Accepting the recommendations of
the Tax Increment Financing Commission and approving the Seventh Amendment to
the 22nd & Main Tax Increment Financing Plan.
pursuant to the Real Property Tax Increment Allocation Redevelopment Act,
Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended
(the "Act"), the City Council of Kansas City, Missouri, 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No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as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, created the Tax Increment Financing
Commission of Kansas City, Missouri (the "Commission"); and
22nd and Main Tax Increment Financing Plan was approved by Ordinance No. 980230
on March 19, 1998 ("the Plan"); and
First Amendment to the Plan was approved by Ordinance No. 991058 , on September 1, 1999; and
WHEREAS, the Second
Amendment to the Plan was approved by the Council by Ordinance No. 000751 on June 29, 2000; and
Third Amendment expanding the Redevelopment Area, adding Project 27, and adding
information regarding Project 21, was approved by the Council by Ordinance No.
000780 on June 29, 2000; and
Fourth Amendment to the Plan adding Projects 19 and 24 (the redevelopment and
rehabilitation of the Stuart Hall and Morr Transfer Buildings for office and
retail use), was approved by the Council by Ordinance No. 001595 on December 14, 2000; and
Fifth Amendment has not been approved by the Council; and
Sixth Amendment to the Plan estimated project costs for Project 10 to
accurately reflect project costs, was approved by the Council by Ordinance No.
040445 on May 27, 2004; and
Seventh Amendment amends Project 19 to reflect the rehabilitation of the Stuart
Hall building, Project 24 and its budget to reflect the rehabilitation of the
Morr Transfer building and construct a parking garage, Project 12 to reflect
rehabilitation of the H.D. Lee building, Project 13 to reflect construction of
a parking garage and modification of the District-wide Expenses-Public Purpose
section of the Estimated Redevelopment project; and
Amendment is a comprehensive program intended to satisfy, reduce or eliminate
those conditions, the existence of which qualified the Redevelopment Area as a
conservation area, and to enhance the tax base within the Redevelopment Area
through the implementation of a series of Redevelopment Projects and the
adoption of tax increment financing in such Redevelopment Project Areas; NOW,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. The
recommendations of the Commission concerning the Seventh Amendment as set forth
in the Resolution attached hereto as Exhibit "A" are hereby accepted
and the Seventh Amendment, a copy of which is attached hereto as Exhibit
"B," is hereby approved and adopted as valid and the Redevelopment
Project contained therein are hereby authorized.
Section 2. 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.
Section 3. In
accordance with the recommendations of the Commission as set forth in the
Resolution, the City Council hereby finds that:
A. Good cause has been shown for amendment of the
Redevelopment Plan, and that the findings of the Council in Ordinance Nos.
980230, 991058,000751, 000780, 001595, 040445, with respect to the
Redevelopment Plan are not affected by the Seventh Amendment and apply equally
to the Seventh Amendment.
B. The Redevelopment Area qualifies as a Conservation Area as
evidenced by the following factors:
Redevelopment Area described in the Amendment has not been subject to growth
and development through investment by private enterprise and would not reasonably
be anticipated to be redeveloped without the adoption of the Amendment, all as
certified to by proposed Redevelopers; all of the structures in the expanded
area were constructed more than 35 years ago and conditions such as
dilapidation, functionally obsolete structures, deterioration, substandard code
compliance, excessive vacancies, excessive coverage and deleterious land use
continue to exist.
C. The Amendment conforms to the comprehensive plan for the
development of the City as a whole.
D. The areas selected for Redevelopment Project 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 Redevelopment
Project and retirement of obligations incurred to finance Redevelopment Project
Costs have been stated in the Amendment and are not more than 23 years from the
adoption of any ordinance approving a Redevelopment Project within the
F. The Amendment includes a plan for relocation assistance for
businesses and residences.
G. A cost-benefit analysis showing the impact of the Amendment on
each taxing district which is at least partially within the boundaries of the
Redevelopment Area has been prepared in accordance with the Act.
H. The Amendment does not include the initial development or
redevelopment of any gambling establishment.
Section 4. The
Commission is authorized to issue obligations in one or more series of bonds
secured by the 22nd & Main Tax Increment Plan 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 in Ordinance No. 54556. 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 5. The
City Council approves the pledge of all funds that are deposited into the 22nd &
Main Tax Increment Financing Plan 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.
Approved as to
form and legality:
Assistant City Attorney