ORDINANCE NO. 941449
Approving and designating Shoal Creek Parkway
Redevelopment Project F of the Shoal Creek Parkway Tax Increment Financing Plan
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. 941443, which approved the Shoal Creek Parkway Tax
Increment Financing Plan ("Redevelopment Plan") and designated the
Redevelopment Area as a conservation area; and
WHEREAS, the Redevelopment Plan and ordinance
contemplates the implementation of the Redevelopment Plan through eleven (11)
separate Redevelopment Projects 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 Redevelopment
Project F, legally described as follows:
All that part of Sections 3, 4, 10, 11, 14, 15 and
16 of Township 51, Range 32, with the exception of the Shoal Creek
Park, in Kansas City, Clay County, Missouri, described as follows:
Beginning at the intersection of the centerline of N.E. 96th Street and
the northerly extension of the east line of Shoal Creek Park, said
point also being located on the north section line of Section 4, Township
51, Range 32; thence east along the north section line of Section 4,
Township 51, Range 32, to the intersection with the east quarter section
line of the Northwest Quarter of Section 3, Township 51, Range 32;
thence south along the east quarter section line of the Northwest Quarter
of Section 3, Township 51, Range 32, to the north quarter section line of
the Northwest Quarter of the Southeast Quarter of Section 3, Township
51, Range 32; thence east along the north quarter section line of the
Northwest Quarter of the Southeast Quarter of Section 3, Township 51,
Range 32, to the east quarter section line of the Northwest Quarter of the
Southeast Quarter of Section 3, Township 51, Range 32; thence south
along the east quarter section line of the Northwest Quarter and the
Southwest Quarter of the Southeast Quarter of Section 3, Township 51, Range
32, to the north section line of Section 10, Township 51, Range 32;
thence east along the north section line of Section 10, Township 51,
Range 32 and Section 11, Township 51, Range 32, to the centerline of N.E.
Flintlock Road; thence southerly and westerly along the centerline of N.E.
Flintlock Road to the south quarter section line of the Southwest
Quarter of the Northwest Quarter of Section 14, Township 51, Range 32;
thence west along the south quarter section line of the Southwest Quarter
of the Northwest Quarter of Section 14, Township 51, Range 32, and the
south line of the north half of Section 15, Township 51, Range 32, to
a point approximately 328.35 feet east of the northeast corner of the
Southeast Quarter of Section 16, Township 51, Range 32; thence North 64
degrees 53 minutes 57 seconds West, a distance of 483.92 feet; thence
South 25 degrees 06 minutes 03 seconds West, a distance of 1,075
feet; thence South 25 degrees 06 minutes 03 seconds West, a distance of
561 feet; thence southwesterly along a curve to the left, the initial
tangent having a bearing of South 41 degrees 00 minutes 25 seconds West,
having a radius of 2,009.86 feet, an arc distance of approximately
839.46 feet to the easterly right-of-way line of Interstate Route 435;
thence northerly along the easterly right-of-way line of Interstate Route
435 to the centerline of N.E. Barry Road, said point located on the
north quarter section line of the Northeast Quarter of the Southwest
Quarter; thence east along the centerline of N.E. Barry Road to its
intersection with the southerly extension of the east line of Shoal Creek
Park; thence northerly along the easterly line of Shoal Creek Park to
the north quarter section line of the Southeast Quarter of the Northeast
Quarter of Section 9, Township 51, Range 32; thence east along the north
quarter section line of the Southeast Quarter of the Northeast Quarter of
Section 9, Township 51, Range 32; to the west section line of Section
10, Township 51, Range 32; thence north along the west section line of
Section 10, Township 51, Range 32, to the north section line of Section
10, Township 51, Range 32; thence east along the north section line
of Section 10, Township 51, Range 32, to the west quarter section
line of Southeast Quarter of the Southwest Quarter of Section 3, Township
51, Range 32; thence north along the west quarter section line of
Southeast Quarter of the Southwest Quarter of Section 3, Township 51,
Range 32, to the south quarter section line of the Northwest Quarter
of the Southwest Quarter of Section 3, Township 51, Range 32; thence west
along the south quarter section line of the Northwest Quarter of the
Southwest Quarter of Section 3, Township 51, Range 32, to the west
section line of Section 3, Township 51, Range 32; thence north along
the west section line of Section 3, Township 51, Range 32, to the south
quarter section line of the Southeast Quarter of the Northeast Quarter of
Section 4, Township 51, Range 32; thence west along the south quarter
section line of the Southeast Quarter of the Northeast Quarter of Section
4, Township 51, Range 32, to the east line of Shoal Creek Park; thence
north along the east line of Shoal Creek Park to the centerline of
N.E. 96th Street to the Point of Beginning.
is approved and designated as Shoal Creek Parkway
Redevelopment Project Area F.
Section 3. Tax increment allocation financing is
hereby adopted for taxable real property in the above described area selected
for Shoal Creek Parkway Redevelopment Project Area F. After the total
equalized assessed valuation of the taxable real property in Shoal Creek
Parkway Redevelopment Project Area F exceeds the certified total initial
equalized assessed valuation of the taxable real property in Shoal Creek
Parkway Redevelopment Project Area F, 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 Shoal Creek Parkway Redevelopment Project Area F 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 Shoal Creek Parkway Redevelopment Project Area F over
and above the initial equalized assessed value of each such unit of
property in the area selected for Shoal Creek Parkway Redevelopment
Project Area F 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 Shoal Creek Parkway Redevelopment Project Area F 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.
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Approved as to form and
legality:
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Acting City Attorney