ORDINANCE NO. 970964

Accepting the recommendations of the Tax Increment Financing Commission as to the 79th & Wornall Tax Increment Financing Plan; approving the 79th & Wornall Tax Increment Financing Plan; and designating the 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, 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 April 9, 1997 and on April 9, 1997, adopted its Resolution No. 4-8-97 (the "Resolution") recommending to the City Council the approval of the 79th & Wornall Tax Increment Financing Plan (the "Redevelopment Plan"); and

WHEREAS, the Redevelopment Plan is a comprehensive program intended to reduce or eliminate those conditions, the existence of which qualified the Redevelopment Area as a blighted area and enhance the tax base within the Redevelopment Area through the implementation of one (1) separate Redevelopment Projects and the adoption of tax increment financing for such Redevelopment Project; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendation of the Commission concerning the Redevelopment Plan as set forth in the Resolution attached hereto as Exhibit "A", is hereby accepted and the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B", is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized.

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 following described area is hereby designated a Redevelopment Area:

A tract of land located in the Northeast Quarter of the Northeast Quarter, of the Southeast Quarter of Section 18, Township 48 North, Range 33 West, in Kansas City, Jackson County, Missouri, being more particularly described as follows: Commencing at the southeast corner, of the Northeast Quarter of the Northeast Quarter of said Southeast Quarter; thence South 89 55'58" West along the south line of said Northeast Quarter, of the Northeast Quarter of the Southeast Quarter, a distance of 30.00 feet to the point of beginning of the tract of land to be described, said point also being on the west right of way line of Wornall Road; thence continuing South 89 55'58" West along said south line a distance of 307.77 feet to the east right of way line of Washington Street; thence North 00 05'31" West along the east right of way line of Washington Street, a distance of 159.84 feet; thence continuing along said east right of way line on a curve to the right, tangent to the last described course, having a radius of 294.62 feet, and an arc distance of 66.85 feet; thence North 12 54'28" East continuing along said east right of way line a distance of 197.10 feet; thence continuing along said east right of way line on a curve to the left, tangent to the last described course, having a radius of 344.62 feet, and an arc distance of 78.37 feet; thence North 00 50'56" West continuing along said east right of way line a distance of 125.30 feet to a point on the south right of way line of 79th Street; thence South 89 59'20" East along said right of way line a distance of 240.50 feet to a point on the west right of way line of Wornall Road; thence South 00 50'56" East parallel with and 30.00 feet distance from the east line of said Northeast Quarter, of the Northeast Quarter, of the Southeast Quarter, along said west right of way line a distance of 620.91 feet to the point of beginning. Contains 170.719 square feet or 3.92 acres more or less.

Section 4. In accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

(a) The Redevelopment Area as a whole is a blighted area, 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;

(b) The Redevelopment Plan conforms to the comprehensive plan for the development of the City as a whole;

(c) The estimated dates of completion of the respective Redevelopment Project and retirement of obligations incurred to finance Redevelopment Project Costs, have been

stated in the Redevelopment Plan and are not more than 23 years from the adoption

of any ordinance approving a Redevelopment Project within the Redevelopment

Area;

(d) A plan has been developed for relocation assistance for businesses and residences.

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the 79th & Wornall Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment 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 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 6. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the 79th & Wornall Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Redevelopment Area 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