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Legislation #: 911440 Introduction Date: 11/21/1991
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER BACCHUS
Title: Approving Redevelopment Project 5 of the Winchester Center Tax Increment Financing Plan as a Redevelopment Project and adopting Tax Increment Financing therein.

Legislation History
DateMinutesDescription
11/21/1991

Prepare to Introduce

11/21/1991

Referred Plans And Zoning Committee

11/26/1991

Hold Off Agenda

1/20/1993

Hold Off Agenda

7/14/1993

Hold Off Agenda

1/19/1994

Hold Off Agenda

7/27/1994

Hold Off Agenda

7/12/1995

Hold Off Agenda

1/24/1996

Hold Off Agenda

1/21/1998

Hold Off Agenda

7/1/1998

Advance and Do Pass as a Committee Substitute

7/2/1998

Passed as Substituted


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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 911440

 

Approving Redevelopment Project 5 of the Winchester Center Tax Increment Financing Plan as a Redevelopment Project and adopting Tax Increment Financing therein.

 

WHEREAS, the City Council of Kansas City, Missouri (the City Council), by Ordinance No. 54556 adopted on November 24, 1982, amended by Ordinance No. 911076 adopted on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the Commission); and

 

WHEREAS, on November 6, 1991, the Commission adopted a resolution recommending to the City Council the adoption of a redevelopment plan entitled the Winchester Center Tax Increment Financing Plan (the Redevelopment Plan); and

 

WHEREAS, on December 19, 1991, the City Council adopted Ordinance No. 911435, which accepted the recommendations of the Commission as to the Redevelopment Plan; approved the Redevelopment Plan; found the Redevelopment Area to be a conservation area; designated the Redevelopment Area as a redevelopment area pursuant to the Act; approved an agreement with the Commission; and authorized the Commission to take all such action as may be needed to effectuate the Plan; and

 

WHEREAS, the Redevelopment Plan and Ordinance No. 911435 contemplate the separate approval of each Redevelopment Project and the adoption of Tax Increment Financing therein at the discretion of the City Council; 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 Redevelopment Project 5 legally described as:

 

All of Tract 3, Winchester Office Center West, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof; and

 

Tract 4-A, being that real property legally described as follows: All that part of Tract 4, Winchester Office Center West, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof; being more particularly described as follows: Beginning at the most south corner of said Tract 4, being also a point on the northeasterly right of way line of Beacon Drive as now established; thence the following courses and distances along the southwesterly line of said Tract 4 and along said northeasterly right of way line; thence North 4310'00" West, 49.78 feet; thence northwesterly along a curve to the left, tangent to the last described course, having a radius of 2,030 feet and a central angle of 429'08", an arc distance of 158.93 feet; thence North 4739'08" West, tangent to the last described curve, a


distance of 244.32 feet; thence North 4220'52" East, perpendicular to the last described course and no longer along the southwesterly line of said Tract 4, a distance of 395 feet; thence North 2931'10" East, 386.91 feet to an angle point in the northeasterly line of said Tract 4; thence South 4311'15" East along northeasterly line, a distance of 164.04 feet to the northeast corner thereof; thence the following courses and distances along the easterly line of said Tract 4; thence South 000'00" East, 40.03 feet; thence South 3550'55" West, 210.65 feet; thence South 134'00" West, 513.49 feet; thence South 4650'00" West, 142.32 feet to the point of beginning.

 

is hereby approved.

 

Section 3. Tax increment allocation financing is hereby adopted for Redevelopment Project 5. After the total equalized assessed valuation of the taxable real property in the area selected for Redevelopment Project 5 exceeds the certified total initial equalized assessed value of all taxable real property in the area selected for such Redevelopment Project, the ad valorem taxes and payments in lieu of taxes, if any, arising from the levies upon taxable real property in the area selected for such Redevelopment Project by taxing districts and tax rates determined in the manner provided in Subsection 2 of Section 99.855, RSMo, each year after the effective date of this ordinance until Redevelopment Project Costs have been paid shall be divided as follows:

 

a. That portion of taxes levied upon each taxable lot, block, 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 Redevelopment Project 5 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.

 

b. 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 Redevelopment Project 5 over and above the initial equalized assessed value of each such unit of property in the area selected for Redevelopment Project 5 shall be allocated to and, when collected, shall be paid to the City Treasurer, who shall deposit such payments in lieu of taxes into the Winchester Center Special Allocation Fund of the City for the purpose of paying Redevelopment 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 will be deemed delinquent and assessed a penalty of one percent (1%) per annum.

 

Section 4. In addition to the payments in lieu of taxes described above, and subject to annual appropriation, fifty percent (50%) of the total additional revenue from taxes which are imposed by the municipality or other taxing districts, and which are generated by economic activities within the area selected for Redevelopment Project 5 over the amount of such taxes generated by economic activities within the area selected for Redevelopment Project 5 in the calendar year prior to the approval of Redevelopment Project 5 by ordinance, while tax increment financing remains in effect, but excluding taxes imposed on sales or 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 collecting officer to the treasurer or other designated financial officer of the municipality, who shall deposit such funds in a separate segregated Winchester Center Economic Activities account within the Winchester Center Special Allocation Fund for the retirement of obligations or payment of Redevelopment Project Costs as defined in the Redevelopment Plan.

 

________________________________________________________

 

Approved as to form and legality:

 

 

______________________________

Assistant City Attorney