KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 130830 Introduction Date: 10/24/2013
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER GLOVER
Title: Approving and designating Redevelopment Project Area A of the 9th _ Central Tax Increment Financing Plan as a Redevelopment Project; adopting tax increment financing therefor; and directing the City Clerk to transmit copies of this ordinance.

Legislation History
DateMinutesDescription
10/22/2013 Filed by the Clerk's office
10/24/2013 Referred to Planning, Zoning & Economic Development Committee
10/30/2013 Hold On Agenda (11/6/2013)
11/6/2013 Hold On Agenda (11/20/2013)
11/20/2013 Hold On Agenda (11/25/2013)
11/25/2013 Hold Off Agenda
11/29/2017 Advance and Do Pass as a Committee Substitute, Debate
11/30/2017 Passed as Substituted

View Attachments
FileTypeSizeDescription
130830.pdf Authenticated 178K Authenticated
130830 Compared .pdf Compared Version 313K Compared Version
130830 Revised Fact Sheet.pdf Fact Sheet 261K Revised Fact Sheet
130830 Request for Ordinance.pdf Request for Ordinance 166K Request for Ordinance
Other 0K 9th & Central TIF Plan - on file City Clerk's Office

Printer Friendly Version

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 130830

 

Approving and designating Redevelopment Project Area A of the 9th & Central Tax Increment Financing Plan as a Redevelopment Project; adopting tax increment financing therefor; and directing the City Clerk to transmit copies of this ordinance.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended, 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, and Ordinance No. 100089, As Amended, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, the City Council accepted the recommendations of the Commission as to the 9th & Central Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a blighted area; and

 

WHEREAS, the Redevelopment Plan twice has been amended by the Council and contemplates the adoption of tax increment financing; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That 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. That the area selected for Redevelopment Project Area A legally described as follows:

 

Beginning at the intersection of the south right-of-way line of 9th Street and the east right-of-way line of Central Street; thence east along the south right-of-way line of 9th Street to the west line of the north south alley lying between Central Street and Wyandotte Street; thence south along the west line of the north-south alley lying between Central Street and Wyandotte Street to the south lot line of Lot 18, Block 3, Ashburns Addition; thence west along the south lot line of Lot 18, Block 3, Ashburns Addition to the east right-of-way line of Central Street; thence north along the east right-of-way line of Central Street to the south right-of-way line of 9th Street, the point of beginning, all now included in and a part of Kansas City, Jackson County, Missouri.

 

Legal: Lots 18, 19, 20, 21 and 22, Block 3, Ashburns Addition, a subdivision in Kansas City, Jackson County, Missouri.

 

and

 

All of the north-south alley lying between Central Street and Wyandotte Street east of and adjacent to LOTS 18, 19, 20, 21 and 22, Block 3, Ashburns Addition, a subdivision in Kansas City, Jackson County, Missouri.

 

is approved and designated by the 9th & Central Tax Increment Financing Plan as Redevelopment Project Area A (“Project Area A”).

 

Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project Area A. After the total equalized assessed valuation of the taxable real property in Project Area A exceeds the certified total initial equalized assessed valuation of the taxable real property in Project Area A, 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 project 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 the Project Area A 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 Project Area A over and above the initial equalized assessed value of each such unit of property in the area selected for Project Area A shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payments in lieu of taxes, which are necessary to the payment of Project Area A Costs within the Redevelopment Area, 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. That 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 Project Area A over the amount of such taxes generated by economic activities within such area in the calendar year prior to the passage 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, which are necessary to the payment of Project Area A Costs within the Redevelopment Area, in a separate segregated account within the Special Allocation Fund for the purpose of paying Redevelopment Project Costs.

 

Section 5. That the City Clerk shall send a copy of this ordinance to the Jackson County Clerk and County Executive of Jackson County, Missouri.

 

_____________________________________________

 

Approved as to form and legality:

 

 

___________________________________

Brian T. Rabineau

Assistant City Attorney