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