SECOND COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 010360

Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to the Parvin Road Corridor Tax Increment Financing Plan; approving the First Amendment to the Parvin Road Corridor Tax Increment Financing Plan; and designating a Redevelopment Area.

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 March 2, 2000, the City Council passed Ordinance No. 001638 which accepted the recommendations of the Commission as to the Parvin Road Corridor Tax Increment Financing Plan (Redevelopment Plan) and designated the Redevelopment Area therein to be a blighted area; and

WHEREAS, a first amendment to the Parvin Road Corridor Tax Increment Financing Plan (the First Amendment) was proposed to the Commission; and

WHEREAS, the First Amendment expands the Redevelopment area to include additional parcels for the improvement and relocation of N. Arlington Avenue; and

WHEREAS, said Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts, closed said public hearing on February 14, 2001, adopted Resolution No. 2-5-01 (Resolution) recommending that the City Council approve the First Amendment; and

WHEREAS, on April 27, 2001, notice was mailed pursuant to Section 99.825, RSMo, and published on April 28, 2001, setting forth the proposed changes to the First Amendment to the Parvin Road Corridor Tax Increment Financing Plan, as presented to the City Council; and

WHEREAS, on May 17, 2001, a notice was mailed pursuant to Section 99.825, RSMo, and published on May 20, 2001, setting forth additional changes to the Redevelopment Plan which would reduce the amount of right of way to be taken in order to preserve two burr oak trees and to exclude other property; and

WHEREAS, the Council has accepted and approved the proposed changes to the First Amendment; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendation of the Commission concerning the First Amendment as set forth in the Resolution attached hereto as Exhibit A are hereby accepted and the First Amendment, a copy of which is attached hereto as Exhibit B as amended in accordance with the notice and

entitled First Amendment to the Parvin Road Corridor Tax Increment Financing Plan, As Amended, is hereby approved and adopted as valid and the Redevelopment Project contained therein is hereby authorized.

Section 2. All terms used in this ordinance, not otherwise defined herein, shall be construed as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the Act).

Section 3. The area, as amended, selected for redevelopment is legally described as:

Tract A

A tract of land in the Southeast Quarter of Section 2, Township 50, Range 32, Kansas City, Clay County, Missouri, being bounded and described as follows: Commencing at the Southwest Corner of the Southeast Quarter of said Section 2; thence South 89^o1612 East, along the South line of said Southeast Quarter, 330.00 feet; thence North 00^o4017 East, along the East line of PHISTER PLACE, a subdivision of land in Kansas City, Clay County, Missouri, and it Southerly prolongation, 525.01 feet to the True Point of Beginning of the tract to be herein described; thence continuing North 00^o4017 East, along said East line 136.17 feet; thence South 89^o1913 East, 104.91 feet; thence North 00^o4017 East, 115.00 feet; thence North 89^o1911 West, 104.91 feet to a point on the East line of said PHISTER PLACE; thence North 00^o4017 East, along said East line and its Northerly prolongation, 540.83 feet to a point on the North line of the Southwest Quarter of said Southeast Quarter; thence South 89^o1911 East, along said North line, 208.41 feet; thence Southerly, along a curve to the right, having an initial tangent bearing of South 05^o0141 West, a radius of 1,540.00 feet, and a central angle of 09^o0938, an arc distance of 246.22 feet; thence Southerly, along a curve to the left, having a common tangent with the last described course, a radius of 1,460.00 feet, and a central angle of 12^o5220, an arc distance of 328.01 feet; thence South 00^o4002 West, tangent to the last described course, 224.20 feet; thence North 89^o1911 West, 129.86 feet to the True Point of Beginning. Containing 110,573 square feet (2.54 acres), more or less.

Tract B

A tract of land in the Southeast Quarter of Section 2, Township 50, Range 32, Kansas City, Clay County, Missouri, being bounded and described as follows: Commencing at the Southwest Corner of the Southeast Quarter of said Section 2; thence South 89^o1612 East, along the South line of said Southeast Quarter, 495.00 feet to the True Point of Beginning of the tract to be herein described; thence North 00^o4017 East, 28.62 feet; thence Southerly, along a curve to the left, having an initial tangent bearing of South 11^o0253 East, a radius of 1,685.00 feet, and a central angle 00^o5946, an arc distance of 29.29 feet to a point on the South line of said Southeast Quarter; thence North 89^o1612 West, along said South line, 6.20 feet to the True Point of Beginning. Containing 87 square feet (0.002 acres) more or less.

Section 4. The City Council hereby finds that:

(a) Good cause has been shown for amendment of the Redevelopment Plan, and that the findings of the City Council in Ordinance No. 001638 with respect to the Redevelopment Plan are not affected by the First Amendment and apply equally to the First Amendment, as amended;

(b) The Redevelopment Area described in the Redevelopment Plan is an economic development area and the following factors are hereby found to exist within the Redevelopment Area, to-wit:

(i) Lack of major roadways within the Redevelopment Area; and

(ii) Rugged topography (steep slopes, valleys, cliffs, etc.) which will increase the cost of adequate public infrastructure.

(c) The Redevelopment Area 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 Redevelopment Plan, and such fact is acknowledged by the Redeveloper in an affidavit included in the Redevelopment Plan.

(d) The Redevelopment Plan, as amended, confirms to the comprehensive plan for the development of the City as a whole;

(e) The areas selected for Redevelopment Projects include only those parcels of real property and improvements therein which will be directly and substantially benefitted by the Redevelopment Project improvements;

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

(g) The Redevelopment Plan includes a plan for relocation assistance for businesses and residences;

(h) A cost benefit analysis showing the impact of the First Amendment, as amended, on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act;

(i) The First Amendment, as amended, does not include the initial development or redevelopment of any gambling establishment.

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the Parvin Road Corridor 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 stake all such further actions as are reasonably necessary to achieve the objectives of the Redevelopment Plan, as amended, 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 and 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 Redevelopment Plan, as amended the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the Parvin Road Corridor 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.

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Approved as to form and legality:

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Assistant City Attorney