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Legislation #: 980657 Introduction Date: 6/4/1998
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Project No. 15B, included in the Second Amendment to the Civic Mall Tax Increment Financing Plan, as a Redevelopment Project and adopting tax increment financing therein.

Legislation History
DateMinutesDescription
6/4/1998

Prepare to Introduce

6/4/1998

Referred Planning and Zoning Committee

6/10/1998

Hold On Agenda

6/17/1998

Hold Off Agenda

1/20/1999

Hold Off Agenda

1/9/2002

Hold Off Agenda

1/7/2004

Hold Off Agenda

7/14/2004

Hold Off Agenda

7/14/2005 Hold Off Agenda
7/18/2007 Hold Off Agenda
1/19/2011 Release
2/11/2011 Released

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ORDINANCE NO. 980657

 

Approving and designating Project No. 15B, included in the Second Amendment to the Civic Mall Tax Increment Financing Plan, as a Redevelopment Project and adopting tax increment financing therein.

 

WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556 passed on November 24, 1982 and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076 as amended passed on August 29, 1991, created the Tax Increment Financing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 8, 1994, the City Council passed Ordinance No. 941589, which approved the Civic Mall Tax Increment Financing Plan ("Redevelopment Plan") and designated the area described therein as a Redevelopment Area; and

 

WHEREAS, on March 20, 1997, the City Council passed Ordinance No. 970236, which approved the First Amendment to the Civic Mall Tax Increment Financing Plan ("First Amendment") and designated the area described therein as a Redevelopment Area; and

 

WHEREAS, on _________________, the City Council passed Ordinance No. 980654, which approved the Second Amendment to the Civic Mall Tax Increment Financing Plan ("Second Amendment") and designated the area described therein as a Redevelopment Area; and

 

WHEREAS, the Redevelopment Plan, as amended by Ordinance No. 941589, Ordinance No. 970236 and Ordinance No. 980654, contemplates the implementation of the Redevelopment Plan, as amended, through forty-four (44) separate Redevelopment Projects (including nine (9) additional Redevelopment Projects authorized by the Second Amendment in Ordinance No. 980654) and the adoption of tax increment financing in each of the areas selected for such Redevelopment Projects; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. 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. The area selected for Project No. 15B legally described as follows:

 

All of that city block legally described as beginning at the intersection of the center line of Cherry Street and the center line of Admiral Blvd.; thence East along the center line of Admiral Blvd. to the center line of Charlotte; thence North to the center line of 6th Street; thence West along the center line of 6th Street to the center line of Cherry Street; thence South to the point of beginning excluding that portion of the Block legally described as follows:

Beginning at the Northwest corner of Lot 7, Block 6, of RICE'S ADDITION, also being a point of the North line of Admiral Blvd. as established by Ordinance 15,550 passed October 10, 1900; thence North 252 feet along West line of Lots 8, 9, 10, 11, 12, Block 6, RICE'S ADDITION, to South line of Right-of Way of Intercity Freeway (also know as 6th Street); thence East a distance of 288 feet along said South line of Intercity Freeway to its point of intersection with West line of vacated Holmes St.; thence continuing East a distance of 50 feet, along South line of 6th Street, as established by Ordinance 31324 to its point of intersection with West line of Lot 8, Block 4, RICE'S ADDITION; thence South a distance of 237 feet along West line of Lots 8 and 9, Block 4, across vacated 6th Street Trafficway and along West line of Lots 1 and 2, Block 5, RICE'S ADDITION, to North line of Admiral Blvd. as established by said Ordinance 15,550, said point begin Northwest corner of Lot 3, Block 5, RICE'S ADDITION, thence West along North line of said Lot 3, prolonged West to West line of vacated Holmes Street; thence South along West line of vacated Holmes Street to a point 10 feet North of North line of Lot 18, Block 6, RICE'S ADDITION; thence West and parallel with North line of said Lot 18 and its prolongation West to West line of vacated alley in Block 6 in said RICE'S ADDITION; thence South along West line of said mentioned alley to the North line of said Lot 7, Block 6, in said RICE'S ADDITION, thence West along the North line of said Lot 7, to the point of beginning; except all that part of Lots 11, 12, 13 and 14, Block 6, RICE'S ADDITION, a subdivision and all that part of vacated Holmes Street, in Kansas City, Jackson County, Missouri, described as follows: Beginning at the point of intersection of the South line of the Intercity Freeway, as now established, and the East line of vacated Holmes Street; thence South 0 degrees, 08 minutes East along said East line, 84.00 feet; thence due West 98.53 feet; thence due South 16.00 feet; thence due West, 49.33 feet; thence due North, 16.00 feet; thence due West 78.33 feet to a point on the East outside line of an existing building; thence North 0 degrees, 06 minutes, 49 seconds West along said East outside line and the Northerly prolongation thereof, 84.00 feet to the South line of said Intercity Freeway; thence due East 226.16 feet to the point of beginning, all included in and a part of Kansas City, Jackson County, Missouri.

 

is approved and designated as the Civic Mall Redevelopment Project No. 15B (hereinafter referred to herein as the "Redevelopment Project No. 15B"). The area selected for said Redevelopment


Project includes only those parcels of real property and improvements thereon which will be directly and substantially benefitted by the Redevelopment Project improvements therein.

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for the Redevelopment Project No. 15B. After the total equalized assessed valuation of the taxable real property in the Redevelopment Project Area exceeds the certified total initial equalized assessed valuation of the taxable real property in the Redevelopment Project No. 15B, 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 costs have been paid shall be divided as follows:

 

1. That portion of taxes penalties and interest 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 or real property in the area selected for Redevelopment Project No. 15B 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 the Redevelopment Project No. 15B, and any applicable penalty and interest over and above the initial equalized assessed value of each such unit of property shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payment in lieu of taxes 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 60 days of the due date will be deemed delinquent and assessed a penalty of 1% per month.

 

Section 4. In addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, 50% of the total additional revenue from taxes penalties and interest which are imposed by the City or taxing districts, and which are generated by economic activities within the area selected for the Redevelopment Project No. 15B over the amount of such taxes generated by economic activities within such area in the calendar year prior to the adoption of this ordinance, while tax increment financing remains in effect, but excluding personal property taxes, taxes imposed on sales of charges for sleeping rooms paid by transient guests of hotels and motels, taxes levied pursuant to  70.500 RSMo, taxes levied pursuant to  94.660 RSMo licenses, fees or special assessments and personal property taxes, other than payments in lieu of taxes, and penalties and interest thereon shall be allocated to, and paid by the local political subdivision collecting officer to the City Treasurer or other designated financial officer of the City, who shall deposit such funds in a separate segregated account within the Special Allocation Fund.

 

__________________________________________________________________

 

Approved as to form and legality:

 

 

_______________________________________

Assistant City Attorney