ORDINANCE NO. 941448
Approving and designating Shoal Creek Parkway
Redevelopment Project E of the Shoal Creek Parkway Tax Increment Financing Plan
as a Redevelopment Project and adopting tax increment financing therefor.
WHEREAS, the City Council of Kansas City, Missouri
by Ordinance No. 54556 passed on November 24, 1982 and thereafter 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, on ____________________, the City Council
passed Ordinance No. 941443, which approved the Shoal Creek Parkway Tax
Increment Financing Plan ("Redevelopment Plan") and designated the
Redevelopment Area as a conservation area; and
WHEREAS, the Redevelopment Plan and ordinance
contemplates the implementation of the Redevelopment Plan through eleven (11)
separate Redevelopment Projects and the adoption of tax increment financing in
each of the areas selected for such Redevelopment Projects; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. 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 2. The area selected for Redevelopment
Project E, legally described as follows:
All of that part of Sections 3, 4, 9 and 10 of
Township 51, Range 32, Kansas City, Clay County, Missouri, described
as follows: Beginning on the west line of the Northwest Quarter of
Section 11, Township 51, Range 32, a distance of 700 feet south of the
northwest corner; thence east 64.71 feet; thence South 42 degrees, 11
minutes, 52 seconds East, a distance of 1,694.11 feet; thence South 25
degrees, 35 minutes, 03 seconds East, a distance of 280 feet; thence South
42 degrees, 11 minutes 52 seconds East, a distance of 60 feet; thence
North 47 degrees, 48 minutes, 08 seconds East, a distance of 250
feet; thence south 497.34 feet to the north right-of-way line of Missouri
Route 152; thence westerly along said north line 531.12 feet; thence North
42 degrees, 11 minutes, 52 seconds West, a distance of 1,520.92 feet
to the west line of the Northwest Quarter of Section 11, Township 51,
Range 32; thence northwest 268.68 feet; thence west 2,250 feet; thence
south 1,313.78 feet to the north line of Missouri Route 152; thence west
609.91 feet; thence north 2,050 feet; thence northwest 342.4 feet;
thence west 280 feet; thence north 330 feet to the north line of Section
10, Township 51, Range 32; thence west along the north section line of Section
10, Township 51, Range 32, and Section 9, Township 51, Range 32, to
the west section line of Section 9, Township 51, Range 32; thence south
along the west section line of Section 9, Township 51, Range 32 to the
south line of the Northeast Quarter of the Southeast Quarter of Section
9, Township 51, Range 32; thence southwesterly, a distance of 763.66
feet; thence North 89 degrees, 44 minutes, 27 seconds West, a distance of
34.42 feet; thence North 0 degrees, 35 minutes, 33 seconds East, to the
centerline of N.E. Barry Road; thence west along the centerline of
N.E. Barry Road to the easterly right-of-way line of Interstate Route
435; thence northerly along the easterly right-of-way line of Interstate
Route 435 to a point approximately 1,496 feet, more or less, south of
the north section line of Section 4, Township 51, Range 32; thence
South 89 degrees, 58 minutes, 13 seconds East, a distance of 1,042.6;
thence North 0 degrees, 17 minutes, 30 seconds East a distance of 1,495.83
to the north section line of Section 4, Township 51, Range 32; thence
east along the north section line of Section 4, Township 51, Range 32, to
a point approximately 550 feet east of the west line of the Northeast
Quarter of the Northeast Quarter of Section 4, Township 51, Range 32;
thence south to the south line of the Northeast Quarter of Section 4,
Township 51, Range 32; thence east along the south line of the Northeast
Quarter of Section 4, Township 51, Range 32 to the east line of Section 4,
Township 51, Range 32; thence south along the east line of Section 4,
Township 51, Range 32, to the south line of the Northeast Quarter of
the Southeast Quarter of Section 4, Township 51, Range 32; thence east
along the south line of the northwest Quarter of the Southwest Quarter of
Section 3, Township 51, Range 32 to a point 200 feet east of the west line
of the Southeast Quarter of the Southwest Quarter of Section 3,
Township 51, Range 32; thence north to a point 1580 feet north of the
south section line of Section 3, Township 51, Range 32; thence east
1,468.86 feet; thence southeast 2,331.10 feet; thence east 1,512.94 to
the Point of Beginning. Said legal description intending to include
that part of Sections 3, 4, 9 and 10 of Township 51, Range 32, Kansas
City, Clay County, Missouri, comprising Shoal Creek Park and that portion
of the Park including Hodge Park.
is approved and designated as Shoal Creek Parkway
Redevelopment Project Area E.
Section 3. Tax increment allocation financing is
hereby adopted for taxable real property in the above described area selected for
Shoal Creek Parkway Redevelopment Project Area E. After the total equalized
assessed valuation of the taxable real property in Shoal Creek Parkway
Redevelopment Project Area E exceeds the certified total initial equalized
assessed valuation of the taxable real property in Shoal Creek Parkway
Redevelopment Project Area E, the ad valorem taxes, and payment in lieu of
taxes, if any, arising from the levies upon the taxable real property in such
project by taxing districts and tax rates determined in the manner provided in
subsection 2 of Section 99.855 each year after the effective date of the
ordinance until redevelopment costs have been paid shall be divided as follows:
1. That portion of taxes levied upon each
taxable lot,
block, tract, or parcel of real property which is
attributable to the initial equalized assessed value of each such
taxable lot, block, tract or parcel of real property in the area
selected for Shoal Creek Parkway Redevelopment Project Area E shall be
allocated to and, when collected, shall be paid by the Jackson County
Collector and the City Treasurer to the respective affected taxing
districts in the manner required by law in the absence of the adoption of
tax increment allocation financing;
2. Payments in lieu of taxes attributable to
the
increase in the current equalized assessed valuation
of each taxable lot, block, tract, or parcel of real property in the
area selected for Shoal Creek Parkway Redevelopment Project Area E over
and above the initial equalized assessed value of each such unit of
property in the area selected for Shoal Creek Parkway Redevelopment
Project Area E shall be allocated to and, when collected, shall be paid to
the City Treasurer who shall deposit such payment in lieu of taxes into a
special fund called the "Special Allocation Fund" of the City
for the purpose of paying Redevelopment Project Costs and obligations
incurred in the payment thereof. Any payments in lieu of taxes which are
not paid within sixty (60) days of the due date shall be deemed delinquent
and shall be assessed a penalty of one percent (1%) per month.
Section 4. In addition to the payments in lieu of
taxes described in subsection 2 of Section 3 above, fifty percent (50%) of the
total additional revenue from taxes which are imposed by the City or taxing
districts, and which are generated by economic activities within the area
selected for Shoal Creek Parkway Redevelopment Project Area E over the amount
of such taxes generated by economic activities within such area in the calendar
year prior to the adoption of this ordinance, while tax increment financing
remains in effect, but excluding taxes imposed on sales of charges for sleeping
rooms paid by transient guests of hotels and motels, licenses, fees or special
assessments and personal property taxes, other than payments in lieu of taxes,
shall be allocated to, and paid by the collecting officer to the City Treasurer
or other designated financial officer of the City, who shall deposit such funds
in a separate segregated account within the Special Allocation Fund.
_____________________________________________
Approved as to form and
legality:
___________________________________
Acting City Attorney