KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 130305 Introduction Date: 4/11/2013
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER MARCASON
Title: Approving the Fourth Amended Universal Floodwater Detention Tax Increment Financing Plan.

Legislation History
DateMinutesDescription
4/12/2013 Filed by the Clerk's office
4/11/2013 Councilmember Glover Move To Introduce
4/11/2013 Referred to Planning, Zoning & Economic Development Committee
4/17/2013 Advance and Do Pass, Consent
4/18/2013 Passed

View Attachments
FileTypeSizeDescription
130305.pdf Authenticated 5478K Authenticated
Universal 4th Amendment Costs.PDF Other 510K Committee Handout
130305 Fact Sheet.pdf Fact Sheet 4637K Fact Sheet
Universal Fourth Amendment April 2013.pdf TIF Plan 456K TIF Plan

Printer Friendly Version

ORDINANCE NO. 130305

 

Approving the Fourth Amended Universal Floodwater Detention Tax Increment Financing Plan.

 

WHEREAS, the City Council of Kansas City, Missouri, by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, the Commission endorsed a proposed redevelopment plan entitled the "Universal Floodwater Detention Tax Increment Financing Plan" (the "Redevelopment Plan"); and

 

WHEREAS, on February 8, 1989, the Commission adopted its resolution approving a plan entitled "Universal Flood Protection Tax Increment Financing Plan" (the "1989 Redevelopment Plan"), calling for redevelopment of an area generally bordered by Reynolds Avenue on the west, the south bank of the Missouri River levee on the north, Interstate 435 on the east and Executive Drive on the south, as described in the 1989 Redevelopment Plan and recommending to the City Council that the City Council approve the 1989 Redevelopment Plan; and

 

WHEREAS, on May 11, 1989, the City Council passed Ordinance No. 63830, wherein the City Council approved the 1989 Redevelopment Plan, designated the area described therein as a redevelopment project area and adopted tax increment financing; and

 

WHEREAS, on November 14, 1990, the Commission determined that the redevelopment projects described in the 1989 Redevelopment Plan were not feasible at that time and adopted a resolution rescinding the 1989 Redevelopment Plan and the designation of the area described therein as a redevelopment project area and recommending that the City Council rescind the 1989 Redevelopment Plan and the designation of the area described therein as a redevelopment project area and repeal Ordinance No. 63830; and

 

WHEREAS, the Commission endorsed a revised redevelopment plan entitled "Universal Floodwater Detention Tax Increment Financing Plan" (the "1990 Redevelopment Plan"), calling for redevelopment of an area bordered by Reynolds Avenue on the west, the south bank of the Missouri River on the north, Interstate 435 on the east and Front Street on the south, (the "Redevelopment Plan Area") and consisting of several redevelopment projects located in separate redevelopment project areas (the "Redevelopment Project Areas") known as Phase I Redevelopment Project Area, Phase II Redevelopment Project Area, and so forth; and

WHEREAS, after all proper notice was given, the Commission met in public hearing on November 14, 1990, and received the comments of all interested parties and taxing districts affected by the 1990 Redevelopment Plan; and

 

WHEREAS, after due deliberation, the Commission adopted its resolution recommending to the City Council that the 1990 Redevelopment Plan be adopted and the City Council declare its intent to adopt tax increment financing at such time as requested by the Commission to finance and reimburse the payment of redevelopment project costs and redevelopment costs incurred in connection with the 1990 Redevelopment Plan; and

 

WHEREAS, after due deliberation, the Commission adopted its resolution recommending to the City Council that Universal Land Development Co., Ltd., be selected as the private developer to redevelop and rehabilitate the Redevelopment Plan Area in accordance with the 1990 Redevelopment Plan; and

WHEREAS, on April 18, 1991, the City Council adopted Committee Substitute for Ordinance No. 910047, as amended, which repealed Ordinance No. 63830; accepted the recommendations of the Commission as to the 1990 Redevelopment Plan; approved the 1990 Redevelopment Plan; designated the Redevelopment Plan Area and each proposed Redevelopment Project Area as blighted; approved Universal Land Development Co., Ltd. as the developer; approved an agreement with the Commission; authorized the execution of a development contract; and approved and designated Phase I of the 1990 Redevelopment Plan as a Project Area and adopted Tax Increment Financing therefor; and

 

WHEREAS, the 1990 Redevelopment Plan has previously been amended three times by Ordinance Nos. 911507, 000777 and 100476; and

 

 

WHEREAS, the Fourth Amended Redevelopment Plan, provides only for modifications to the Budget of Redevelopment Project Costs; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The Fourth Amended Redevelopment Plan is hereby approved.

 

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 (the "Act").

 

Section 3. The City Council hereby finds that:

 

(a) The Redevelopment Plan Area as a whole and each Redevelopment Project Area are blighted as evidenced by the flooding problems, deterioration and underutilization of buildings and other blighting influences.

 

(b) The areas selected for Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefitted by the Redevelopment Project Improvements.

 

(c) The Redevelopment Plan Area as a whole and each Redevelopment Project Area have 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 Fourth Amended Redevelopment Plan.

 

(d) The Fourth Amended Redevelopment Plan as a whole and each Redevelopment Project conform to the comprehensive plan for the development of the City as a whole.

 

(e) The estimated dates of completion of the Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Plan Area.

 

(f) The Fourth Amended Redevelopment Plan includes a plan for relocation assistance for businesses and residences.

 

(g) A cost-benefit analysis showing the impact of the Fourth Amended Redevelopment Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Plan Area has been prepared in accordance with the Act.

 

(h) The Fourth Amended Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

(i) A blight study has been completed and the findings of such study satisfy the requirements provided under subdivision (1) of Section 99.805, RSMo.

 

Section 3. The Commission is authorized to issue obligations in one or more series of bonds secured by the Universal Floodwater Detention TIF Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Plan 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 1990 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 4. Pursuant to the provisions of the Fourth Amended Redevelopment Plan, the City Council approves the pledge and authorizes the Commission to pledge all funds generated from the 1990 Redevelopment Plan, which are deposited into the Universal Floodwater Detention Account and the Universal Floodwater Detention Economic Activity Account of the Special Allocation Fund to the payment of Redevelopment Project Costs and Redevelopment Costs within the Redevelopment Plan Area and each of the Redevelopment Project Areas.

 

_______________________________________

 

Approved as to form and legality:

 

 

_____________________________

Brian Rabineau

Assistant City Attorney