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Legislation #: 031366 Introduction Date: 12/18/2003
Type: Ordinance Effective Date: none
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Third Amendment to the Winchester Center Tax Increment Financing Plan; and approving the Third Amendment to the Winchester Center Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
12/18/2003

Prepare to Introduce

12/18/2003

Referred Planning, Zoning & Economic Development Committee

1/7/2004

Advance and Do Pass

1/8/2004

Passed


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ORDINANCE NO. 031366

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Third Amendment to the Winchester Center Tax Increment Financing Plan; and approving the Third Amendment to the Winchester Center Tax Increment Financing Plan.

 

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 December 19, 1991, the City Council adopted Ordinance No. 911435, which accepted the recommendations of the Commission as to the Winchester Center Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area therein to be a conservation area; and

 

WHEREAS, on October 28, 1993, the City Council adopted Ordinance No. 931165, which accepted the recommendations of the Commission as to the First Amended Winchester Center Tax Increment Financing Plan and designated the Expanded Redevelopment area therein as a conservation area; and

 

WHEREAS, on September 15, 1994, the Council approved Ordinance No. 941181 which accepted the recommendation of the Commission as to the Second Amendment to the Winchester Center Tax Increment Financing Plan and expanded the Redevelopment Area; and

 

WHEREAS, a third amendment to the Winchester Center Tax Increment Finance Plan was proposed to the Commission (the Third Amendment); and

 

WHEREAS, the Third Amendment provides for an increase in the estimated redevelopment project and reimbursable costs; and

 

WHEREAS, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested parties and taxing jurisdictions affected, closed the public hearing on December 10, 2003, and approved its Resolution No. 12-8-03 recommending to the Council that the Third Amendment be approved; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendations of the Commission concerning the Third Amendment to the Winchester Center Tax Increment Financing Plan as set forth in the resolution attached hereto as Exhibit "B" are hereby accepted and the Third Amendment to the Redevelopment Plan, a copy of which is attached hereto as Exhibit "A", is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized.

 


Section 2. All terms used in this ordinance shall be construed as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act").

 

Section 4. The City Council hereby finds that:

 

(a) Good cause has been shown for the amendment of the Redevelopment Plan, and that the findings of the City Council in Ordinance Nos. 911435, 931165, and 941181 with respect to the Redevelopment Plan and any subsequent amendments, are not affected by the Third Amendment to the Winchester Center Tax Increment Financing Plan and apply equally to the Third Amendment to the Winchester Center Tax Increment Financing Plan;

 

(b) The Redevelopment Area, as amended, as a whole is a conservation area, and 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 Third Amendment to the Winchester Center Tax Increment Financing Plan;

 

(c) The Third Amendment to the Winchester Center Tax Increment Financing Plan conforms to the comprehensive plan for the development of the City as a whole;

 

(d) The estimated dates of completion of the respective Redevelopment Projects and retirement of any obligations incurred to finance Redevelopment Project Costs, have been stated in the Third Amendment to the Winchester Center Tax Increment Financing Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area, as amended;

 

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

 

(f) The Third Amendment does not include the development of any gaming establishment;

 

(g) A cost benefit analysis showing the economic impact of the Third Amendment on each affected district has been included.

 

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the Winchester Center Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area, as amended, 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 Third Amendment to the Winchester Center Tax Increment Financing 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 6. Pursuant to the provisions of the Third Amendment to the Winchester Center Tax Increment Financing Plan, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the Winchester Center Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Redevelopment Area, as amended, and authorizes the Commission to pledge such funds on its behalf.

 

_____________________________________________

 

Approved as to form and legality:

 

 

__________________________________

Heather A. Brown

Assistant City Attorney