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ORDINANCE NO. 001035
Accepting
the recommendations of the Tax Increment Financing Commission approving the
First Amendment to the Summit Tax Increment Financing Plan (the Amendment);
and designating a larger Redevelopment Area.
WHEREAS,
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No. 54556, passed on November 24, 1982, and thereafter repealed and amended in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
WHEREAS,
the Summit Tax Increment Financing Plan was approved by Ordinance No. 951016 on
August 31, 1995 (the Plan"); and
WHEREAS,
the Commission, having been duly constituted, its members appointed, and after
all proper notice was given, met in public hearing on July 12, 2000, and, after
receiving the comments of all interested persons and taxing districts, approved
Resolution No. 7-12-00 (the "Resolution") recommending to the City
Council the approval of the Amendment; and
WHEREAS,
the 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, THEREFORE,
BE
IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
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1. The recommendations of the Commission concerning the Amendment as set forth
in the Resolution attached hereto as Exhibit "A" are hereby accepted
and the Amendment, a copy of which is attached hereto as Exhibit "B,"
is hereby approved and adopted as valid and the Redevelopment Project(s)
contained therein are hereby authorized.
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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.
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3. The following-described tract is hereby designated a Redevelopment Area:
Beginning at the point of intersection of the center
line of Broadway and the south right-of-way line of 26th Street; thence west
along the south right-of-way line of 26th Street to the east right-of-way line
of Interstate 35; thence north along the east right-of-way line of Interstate
35 to the south right-of-way line of 25th Street; thence west along the south
right-of-way line of 25th Street to the west right-of-way line of Interstate
35; thence south along the west right-of-way line of Interstate 35 to the
center line of 26th Street; thence west and northwesterly along the center line
of 26th Street to the to the east line of Lot 59, Block 4,
GATES ADDITION; thence northeasterly along the east
lot line of Lots 59 through 48, inclusive, Block 4, GATES ADDITION; thence
northwesterly along the northern lot line of Lot 48, Block 4, GATES ADDITION,
to the center line of Southwest Boulevard; thence northeasterly 825 feet, more
or less, along the center line of Southwest Boulevard to the south right-of-way
line of the Kansas City Terminal Railroad; thence southeasterly 50 feet along a
straight line; thence northeasterly along a straight line to the northwest
corner of Lot 21, Block 3, GATES ADDITION; thence continuing northeasterly
along a straight line 725 feet, more or less, to the east right-of-way line of
Summit Street; thence south along the east right-of-way line of Summit Street
to the north right-of-way line of 25th Street; thence east along the north
right-of-way line of 25th Street to a point 171.28 feet west of the west line
of Jefferson Street, as said street was established by Ordinance No. 37-077;
thence northeasterly along a straight line to a point 9 feet west of the
southwest corner of the 4th bridge pillar north of 25th Street on the west side
of Interstate 35 bridge; thence northeasterly along a straight line to a point
on the south right-of-way line of the Kansas City Terminal 82.52 feet west of
the west line of Jefferson Street, said point being on the north lot line of
Lot 3, Block 9, A.J. LLOYDS SUBDIVISION; thence east along the north lot line
of Lot 3, Block 9, A.J. LLOYDS SUBDIVISION the north lot line of Lot 3, Block
10, A.J. LLOYDS SUBDIVISION, and the extension of said line to the center line
of West Pennway; thence south 10 feet, more or less, along the center line of
West Pennway to the westerly extension of the north right-of-way line of
Pershing Road; thence east 510 feet, more or less, to the west lot line of Lot
9, Block C, JAMESONS SUBDIVISION; thence north along the west lot line of Lots
9 through 6, Block C, JAMESONS SUBDIVISION, to the north lot line of Lot 6,
Block C, JAMESONS SUBDIVISION; thence east along the north lot line of Lot 6,
Block C, JAMESONS SUBDIVISION, to the center line of Broadway; thence south
along the center line of Broadway to the center line of Pershing Road; thence
east and northeasterly along the center line of Pershing Road to the center
line of Kessler Road; thence south along the center line of Kessler Road to the
easterly extension of the south right-of-way line of 26th Street; thence west
along the easterly extension of the south right-of-way line of 26th Street to
the Point of Beginning, all included in and a part of Kansas City, Jackson
County, Missouri.
Section 4. In accordance with the
recommendations of the Commission as set forth in the Resolution, the City
Council hereby finds that:
A. The Redevelopment Area qualifies
as a Conservation Area as evidenced by the following factors:
The 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.
B. The Amendment conforms to the
comprehensive plan for the development of the City as a whole.
C. 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.
D. The estimated dates of
completion of the Redevelopment Projects 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 Redevelopment Area.
E. The Amendment includes a plan
for relocation assistance for businesses and residences.
F. 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.
G. The Amendment does not include
the initial development or redevelopment of any gambling establishment.
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5. The Commission is authorized to issue obligations in one or more series of
bonds secured by the Summit 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.
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6. The City Council approves the pledge of all funds that are deposited into
the Summit 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.
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Approved
as to form and legality:
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Assistant
City Attorney