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Legislation #: 970993 Introduction Date: 7/10/1997
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Redevelopment Project I of the Power and Light District Tax Increment Financing Plan, as amended, as a Redevelopment Project and adopting tax increment financing therefor.

Legislation History
DateMinutesDescription
7/10/1997

Prepare to Introduce

7/10/1997

Referred Planning, Zoning & Economic Development Committee

7/16/1997

Hold On Agenda

8/6/1997

Hold On Agenda

8/20/1997

Hold Off Agenda

1/20/1999

Hold Off Agenda

1/9/2002

Released


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ORDINANCE NO. 970993

 

Approving and designating Redevelopment Project I of the Power and Light District Tax Increment Financing Plan, as amended, as a Redevelopment Project and adopting tax increment financing therefor.

 

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 ________________________, the City Council passed Ordinance No. 970992, which accepted the recommendations of the Commission as to the Power and Light District Tax Increment Financing Plan, as amended ("Redevelopment Plan") and designated the Redevelopment Area to be a blighted development area; and

 

WHEREAS, the Redevelopment Plan and Ordinance contemplate the implementation of the Redevelopment Plan through nine (9) 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. 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 Redevelopment Project I legally described as follows:

 

All or part of the following: Block E and F, 2nd RESURVEY OF REID'S ADDITION; Blocks 1, 7 and 8, REID'S ADDITION all subdivisions according to the recorded plat thereof; Blocks 5, 6, 7, 8, 9 and 14 McGEE'S ADDITION; including the East Half of Baltimore Avenue, part of Main Street, Walnut Street and 14th Street, as said avenue and streets are now established; including alleys both open and vacated contained within the previously stated Blocks all in Kansas City, Jackson County, Missouri, being more particularly described as follows: Beginning at the Southwest corner of Lot 12, Block F of said 2nd RESURVEY OF REID'S ADDITION, being also a point of intersection of the East right-of-way line of Wyandotte Street with the North right-of-way line of 14th Street, as both streets are now established; thence North along the West line of Lot 12 of said Block F and along said East right-of-way line, a distance of 59.71 feet; thence East perpendicular to the last described course, 30 feet; thence Northeasterly along a curve to the right, having an initial tangent bearing of North 35 degrees 03 minutes 40 seconds East, a radius of 540 feet and a central angle of 39 degrees 41 minutes 30 seconds, an arc distance of 374.09 feet to a point on the centerline of the 60 foot wide right-of-way for Baltimore Avenue, as now established; thence North along said centerline, 175 feet to a point on the Westerly prolongation of Lot 1, Block 8 of said REID'S ADDITION; thence East along said Westerly prolongation, 30 feet to the Northwest corner of Lot 1 of said Block 8, being also a point of intersection of the South right-of-way line of 13th Street with the East right-of-way line of said Baltimore Avenue, as said street and avenue are now both established; thence North along the Northerly prolongation of Lot 1 of said Block 8, 49.5 feet to the Southwest corner of Lot 17, Block 1 of said REID'S ADDITION; thence continuing North along the West line of Lots 17, 16, 15, 14, 13 and 12 of said Block 1 and along the East right-of-way line of said Baltimore Avenue, a distance of 145 feet to the Northwest corner of the South Half of a vacated alley; thence East along the North line of the South Half of said vacated alley, a distance of 116.44 feet to a point of intersection with the centerline of a vacated North-South alley; thence South along said vacated alley centerline, a distance of 24 to a point on the Westerly prolongation of the North line of the South 22 feet of Lot 70, Block 5 of said McGEE'S ADDITION; thence Easterly along said Westerly prolongation and along the North line of the South 22 feet of said Lot 70, a distance of 138.25 feet to a point on the West right-of-way line of Main Street, as now established; thence South along said West right-of-way line and its Southerly prolongation, a distance of 170.50 feet to the Northeast corner of Lot 73, Block 6 of said McGEE'S ADDITION, being also the point of intersection of said West right-of-way line with the South right-of-way line of said 13th Street; thence Easterly along the Easterly prolongation of the North line of said Lot 73 and along said South right-of-way line and along the North line of Block 7 of said McGEE'S ADDITION and its Easterly prolongation and along the North line of Block 8 of said McGEE'S ADDITION, a distance of 569 feet to point, 60 feet West of the Northeast corner of Lot 109, Block 8 of said McGEE'S ADDITION; thence South along the West line of the East 60 feet of said Block 8, a distance of 445.50 feet to a point on the South line of said Block 8, being also a point on the North right-of-way line of 14th Street, as now established; thence West along the South line of said 14th Street and the South line of said Block 8 and its Westerly prolongation, a distance of 253.50 feet to the Southeast corner of Lot 99, Block 7 of said McGEE'S ADDITION, being also the point of intersection of the North right-of-way line of said 14th Street with the West right-of-way line of Walnut Street, as now established; thence South along the Southerly prolongation of the East line of said Block 7 and along the East line of Block 14 of said McGEE'S ADDITION and along the West right-of-way line of said Walnut Street, a distance of 123.75 feet to the Southeast corner of the North Half of Lot 196 of said Block 14; thence West along the South line of the North Half of said Lot 196, a distance of 115.50 feet to the Southwest corner of said North Half; thence South along the West line of the South Half, said Lot 191, 24.75 feet to a point of intersection with the Easterly prolongation of the South line of Lot 200 of said Block 14; thence West along said Easterly prolongation and along the South line of said Lot 200, a distance of 130 feet to a point on the East right-of-way line of said Main Street; thence North along said East right-of-way line, a distance of 148.50 feet to the Southwest corner of Lot 90, Block 7 of said McGEE'S ADDITION, being also a point on the North right-of-way line of said 14th Street; thence West along the Westerly prolongation of the South line of said Lot 90 and along the South line of Block 6 of said McGEE'S ADDITION and along the South line of Block E of said 2nd RESURVEY OF REID'S ADDITION and along the North right-of-way line of said 14th Street, a distance of 354.69 feet to a point on the centerline of the 60 foot wide right-of-way of said Baltimore Avenue; thence North along said centerline, 220.50 feet to a point of intersection with the Easterly prolongation of the South line of Lot 9, Block 7 of said REID'S ADDITION; thence West along said Easterly prolongation and along the South line of said Lot 9, a distance of 70 feet; thence Southwesterly along a straight line, a distance of 203.35 feet to a point on the East line of Lot 9, Block F of said 2nd RESURVEY OF REID'S ADDITION, said point being 95 feet North of the Southeast corner thereof; thence Southwesterly along a straight line, a distance of 55.90 feet to a point on the West line of said Lot 9, 45 feet North of the Southwest corner thereof; thence Southeasterly along a straight line to a point on the East line of said Lot 9, 20 feet North of the Southeast corner thereof; thence South along said East line, 20 feet to the Southeast corner of said Lot 9; thence West along the South line of Lots 9, 10, 11 and 12, Block F of said 2nd RESURVEY OF REID'S ADDITION and along the North right-of-way line of said 14th Street, a distance of 100 feet to the Point of Beginning. Containing 10.967 acres, more or less.

 

Also, beginning at the Northeast corner of Lot 127, Block 9 of said McGEE'S ADDITION; thence South along the East line of said Block 9 and along the West line right-of-way line of McGee Street, as now established, a distance of 445.50 feet to the Southeast corner thereof; thence West along the South line of said Block 9 and along the North right-of-way line of 14th Street, as now established and along Lots 135 and 126 of said Block 9, a distance of 187.50 feet; thence North along a straight line, 60 feet distant East of and parallel with West line of said Block 9, a distance of 445.50 feet to a point on the North line of said Block 9; thence East along said North line and along the South right-of-way line of 13th Street, as now established, a distance of 187.50 feet to the Point of Beginning. Containing 1.918 acres, more or less.

 

Also, beginning at the Northeast corner of Lot 154, Block 12 of said McGEE'S ADDITION; thence South along the East line of Lots 154 and 155 of said Block 12 and along the West right-of-way line of McGee Street, as now established, a distance of 99 feet to the Southeast corner of said Lot 155; thence West along the South line of said 155 and its Westerly prolongation and along the South line of Lot 164 of said Block 12, a distance of 187.50 feet; thence North along the East line of the West 60 feet of Lots 164 and 163 of said Block 12, a distance of 99 feet to a point on the North line of said Lot 163; thence East along the North line of said Lots 163 and 154 and along the South right-of-way line of 14th Street, as now established, a distance of 187.50 feet to the Point of Beginning. Containing 0.562 acres, more or less.

 

All of Lots 156, 157, 158, 165, 166 and 167, Block 12, McGEE'S ADDITION, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, being more particularly described as follows: Beginning at the Northeast corner of said Lot 156; thence South along the East line of said Lots 156, 157 and 158 of said Block 12 and along the West right-of-way line of McGee Street, as now established, a distance of 148.50 feet to the Southeast corner of said Lot 158 feet; thence West along the South line of said Lots 158 and 167 and along the North right-of-way line of U.S. Interstate Highway Route No. 35 (Truman Road), as now established, a distance of 247.50 feet to the Southwest corner of said Lot 167; thence North along the West line of said Lots 167, 166 and 165 and along the East right-of-way line of Grand Avenue, as now established, a distance of 148.50 feet to the Northwest corner of said Lot 165; thence East along the North line of said Lots 165 and 156, a distance of 247.50 feet to the Point of Beginning. Containing 0.844 acres, more or less.

 

is approved and designated as the Power and Light District Tax Increment Financing Plan Redevelopment Project I ("Project I").

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project I. After the total equalized assessed valuation of the taxable real property in Project I exceeds the certified total initial equalized assessed valuation of the taxable real property in Project I, 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 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 of real property in the area selected for the Project I 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 Project I over and above the initial equalized assessed value of each such unit of property in the area selected for Project I 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 sixty (60) days of the due date shall be deemed delinquent and shall be assessed a penalty of one percent (1%) per month.

 

Section 4. In addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, fifty percent (50%) of the total additional revenue from taxes which are imposed by the City or taxing districts, and which are generated by economic activities within the area selected for Project I 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 taxes imposed on sales of 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 the 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.

 

Section 5. The area selected for Project I includes only those parcels of real property and improvements thereon which will be substantially benefitted by the proposed redevelopment project improvements.

 

_____________________________________________

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney