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Legislation #: 090347 Introduction Date: 4/30/2009
Type: Ordinance Effective Date: 6/21/2009
Sponsor: None
Title: Receiving the recommendations of the Tax Increment Financing Commission as to the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan; and approving the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan, as amended by the Council.

Legislation History
DateMinutesDescription
4/30/2009 Filed by the Clerk's office
4/30/2009 Referred to Finance and Audit Committee
5/12/2009 Referred to Planning and Zoning Committee
5/13/2009 Hold On Agenda (5/20/2009)
5/20/2009 Do Pass as a Committee Substitute
5/21/2009 Assigned Third Read Calendar as Substituted
5/28/2009 Councilmember Riley Move To Hold On Docket
5/28/2009 Held on Docket (6/11/2009)
6/11/2009 Councilmember Ford Move to Amend
6/11/2009 Passed as Substituted and Amended

View Attachments
FileTypeSizeDescription
090347.pdf Authenticated 271K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090347 Advertise Notice 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090347
090347 compare cs to ord.doc Other 40K Compared Version Comm Sub to Ord
090347_FINAL.DOC Fact Sheet 55K revised fact sheet
740012.DOCX Request for Ordinance 16K Modified 8th Amendment to 43rd & Main Ordinance Request
00110733.PDF TIF Plan 145K Modified 8th Amend to 43rd & Main TI F Plan (Neighborhood)

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 090347

 

Receiving the recommendations of the Tax Increment Financing Commission as to the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan; and approving the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan, as amended by the Council.

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 March 24, 1994, the Council passed Committee Substitute for Ordinance No. 940227, which accepted the recommendations of the Commission as to the 43rd and Main Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area therein to be a conservation area; and 

WHEREAS, the Council passed Committee Substitute for Ordinance No. 941149, approving the First Amendment, which expanded the boundaries and increased the size of Project 2, and designated the Amended Redevelopment Area as a redevelopment area; and 

WHEREAS, the Council passed Ordinance No. 040345, approving the Second Amendment which expanded the boundaries and established a grant or loan program for residential property owners; and 

WHEREAS, the Council passed Ordinance No. 060613, approving the Third Amendment which provided for revision of the budget items for Design, Engineering, Alternatives Analysis, Streetscape Plan, Main Street and the addition of a new line item named Main Street CID, keeping the total budget unchanged; and 

WHEREAS, the Council passed Ordinance No. 061094, approving the Fourth Amendment which provided for deleting the reference to Walnut Street in the housing program of the budget, eliminated the budget pertaining to the Broadway Viaduct, reassigned the reimbursable amount associated with the Broadway Viaduct for additional public infrastructure funding while keeping the intent of the Plan unchanged, and designated a Fourth Amended Redevelopment Area; and 

WHEREAS, the Council passed Committee Substitute for Ordinance No. 080007, approving the Fifth Amendment which provided for (i) expansion of the boundaries of the Redevelopment Area, as described by the Plan, to include the following parcels: 3835 Main, 3829 Main, 3827 Main, 3821 Main, 2 E. 39th Street, 12-24 East 39th Street, 3838
Walnut Street, 3830 Walnut Street, and 3828 Walnut Street within Kansas City, Missouri (ii) the acquisition and demolition of certain property necessary to construct a 94-115 space parking garage and commercial amenities (iii) the rehabilitation of the Hawthorn Plaza Building, located at 3835 Main Street in Kansas City, Missouri (Hawthorn) for mixed use, including, but not limited to, 58 residential units and commercial amenities (iv) improvements to streetscape, as well as all necessary appurtenances and utilities, (v) certain modifications to the budget of Redevelopment Project Costs, (vi) updated employment and construction projections, (vii) an updated cost/benefit analysis, (viii) an updated But for analysis, and (ix) an update to the conservation study; and 

WHEREAS, an eighth amendment to the Redevelopment Plan (Eighth Amendment) was proposed to the Commission; and 

WHEREAS, the Eighth Amendment modifies certain line items within the Plans budget of redevelopment project costs; and  

WHEREAS, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested parties and taxing districts affected, closed said public hearing on February 11, 2009, approved its Resolution No. 2-6-09 recommending to the City Council approval of the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan; NOW, THEREFORE, 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY: 

Section 1. The recommendations of the Commission concerning the Eighth Amendment to the 43rd and Main Redevelopment Plan as set forth in the resolution attached hereto as Exhibit "A", are hereby received and the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan, as amended by the Council, is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized. The Commission is hereby directed to amend the text, attachments, and exhibits of the Redevelopment Plan to provide for the following:

a. Funding for the S.M.A.R.T. Housing Program in the amount of $585,000.00, including administration costs of not more than 10%, with the improvements to be completed within 36 months of the passage of this ordinance;

b. Funding for streetscape improvements as described in the Redevelopment Plan in the amount of $587,402.00, to be completed within 36 months of the passage of this ordinance;

c. Funding for sidewalk improvements in the benefit district along 43rd Street in the amount of $255,074.00, to be completed within 36 months of the passage of this ordinance; and

d. Funding for the demolition of the former Naughty But Nice building, the extraction of the 45th Street Tax Increment Financing Plan from the 43rd and Main Tax Increment Financing Plan, and for the survey of Main Street in the amount of $125,000.00, with both the demolition and survey to take place within 6 months of the passage of this ordinance; and

e. Existing and future funds in the Special Allocation Fund which are not budgeted in this amendment and which have not been previously approved by the Plan will be declared surplus in accordance with Section 99.850, RSMo.

Section 2. All terms used in this ordinance shall be construed as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"). 

Section 3. The City Council hereby finds that:  

(a) Good cause has been shown for the amendment of the Redevelopment Plan, and that the findings of the City Council in Committee Substitute for Ordinance No. 940227, Committee Substitute for Ordinance No. 941149, Ordinance No. 040345, Ordinance No. 060613, Ordinance No. 061094 and Committee Substitute for Ordinance No. 080007 with respect to the Redevelopment Plan, and First Amendment, Second Amendment, Third Amendment, Fourth Amendment and Fifth Amendment are not affected by the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan and apply equally to the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan; 

(b) The Eighth Amended Redevelopment Area as a whole is a conservation 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 Eighth Amendment to the 43rd and Main Tax Increment Financing Plan; 

(c) The Eighth Amendment to the 43rd and Main Tax Increment Financing Plan conforms to the comprehensive plan for the development of the City as a whole; 

(d) The estimated dates of completion of the respective Redevelopment Projects and retirement of any obligations incurred to finance Redevelopment Project Costs, have been stated in the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Eighth Amended Redevelopment Area; 

(e) A plan has been developed for relocation assistance for businesses and residences; 

(f) The Eighth Amendment does not include the development of any gaming establishments; and 

(g) A cost benefit analysis showing the economic impact of the Eighth Amendment on each affected taxing district has been included. 

(h) A conservation study has been completed and the findings of such study satisfy the requirements of Section 99.805(3), RSMo. 

Section 4. The Commission is authorized to issue obligations in one or more series of bonds secured by the 43rd and Main Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Eighth Amended 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 Eighth Amendment to the 43rd and Main Tax Increment Financing 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 5. Pursuant to the provisions of the Eighth Amendment to the 43rd and Main Tax Increment Financing Plan, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the 43rd and Main Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Eighth Amended Redevelopment Area and authorizes the Commission to pledge such funds on its behalf. 

_____________________________________________

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney