ORDINANCE
NO. 180147
Accepting the recommendations of the Tax Increment
Financing Commission as to the Third Amendment to the Bannister & I-435 Tax
Increment Financing Plan; approving the Third Amendment; and directing the City
Clerk to send 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, 1986, as amended (the
“Act”), 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passed on November 24, 1982, and thereafter repealed and amended in certain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,
Ordinance No. 130986, passed on December 19, 2013, and Committee Substitute for
Ordinance No. 140823, as amended, passed on June 18, 2015, created and
empowered the Tax Increment Financing Commission of Kansas City, Missouri (the
“Commission”); and
WHEREAS, the City Council accepted the recommendations of
the Commission by passage of Committee Substitute for Ordinance No. 130737,
approving the Bannister & I-435 Tax Increment Financing Plan (the “Plan” or
“Redevelopment Plan”); and
WHEREAS,
a First Amendment to the Plan (the “First Amendment”) was approved by the City
Council on August 14, 2014, by passage of Ordinance No. 140594; and
WHEREAS,
a Second Amendment to the Plan (the “Second Amendment”) was approved by the
City Council on March 31, 2016, by passage of Ordinance No. 160221; and
WHEREAS,
a Third Amendment to the Plan (the “Third Amendment”) was proposed to the
Commission; and
WHEREAS, after all proper notice was given, the Commission met
in public hearing regarding the Third Amendment on January 10, 2018, at which
time, after receiving the comments of all interested persons and taxing
districts, the Commission approved Resolution No. 1-06-18
("Resolution") recommending to the City Council the approval of the
Third Amendment; and
WHEREAS, the Third Amendment
provides for modifications to the Budget of Redevelopment Project Costs
without increasing the overall total Budget; NOW,
THEREFORE,
BE IT
ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Third
Amendment is hereby approved.
Section 2. That all terms used in this ordinance, not
otherwise defined herein, shall be construed as defined in Sections 99.800 to
99.865 of the Revised Statutes of Missouri, as amended (the “Act”).
Section
3. That the Council hereby finds that:
(a) Good cause has been shown for amendment of the
Redevelopment Plan, and that the previous findings with respect to the
Redevelopment Plan are not affected by the Third Amendment and apply equally to
the Third Amendment;
(b) The Third Amendment does not alter the Council’s previous
finding that the Redevelopment Area is a blighted area, as a whole, 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 Redevelopment Plan, as amended, and the Third Amendment;
(c) The Third Amendment does not alter the Council’s previous
finding that the Redevelopment Area conforms to the FOCUS Plan for the
comprehensive development of the City as a whole;
(d) The Third Amendment does not alter the Council’s previous
finding that the areas selected for Redevelopment Projects include only those
parcels of real property and improvements therein which will be directly and
substantially benefited by the Redevelopment Project improvements;
(e) The Third Amendment does not alter the Council’s previous
finding that 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;
(f) The Third Amendment does not alter the Council’s previous
finding that a plan has been developed for
relocation assistance for businesses and residences;
(g) The Third Amendment does not alter the Council’s previous
finding that a cost benefit analysis showing the economic impact of all
projects on each taxing district which is at least partially within the
boundaries of the Redevelopment Area has been prepared in accordance with the
Act;
(h) The Third Amendment does not include the initial
development or redevelopment of any gambling establishment; and
(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 4. That the Commission is authorized to issue obligations
in one or more series of bonds secured by the Special Allocation Fund
established in connection with the Bannister & I-435 Tax Increment
Financing Plan 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 Bannister & I-435 Tax Increment Financing
Plan, as amended, pursuant to the power delegated to it. 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 5. That 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 Special
Association Fund established in connection with the Bannister & I-435 Tax Increment Financing
Plan to the payment of Redevelopment Project Costs within the
Redevelopment Area, as amended, and authorizes the Commission to pledge such
funds on its behalf.
Section 6. That the City Clerk is directed to send a copy
of this ordinance to the County Clerk and County Executive of Jackson County,
Missouri.
____________________________________________
Approved as to form and
legality:
_____________________________
Brian T. Rabineau
Assistant City Attorney