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Legislation #: 990346 Introduction Date: 3/11/1999
Type: Ordinance Effective Date: 3/28/1999
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Savoy Hotel Tax Increment Financing Redevelopment Plan; approving the Savoy Hotel Tax Increment Financing Redevelopment Plan; and designating a Redevelopment Area.

Legislation History
DateMinutesDescription
3/11/1999

Prepare to Introduce

3/11/1999

Referred Planning, Zoning & Economic Development Committee

3/17/1999

Advance and Do Pass

3/18/1999

Passed


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ORDINANCE NO. 990346

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Savoy Hotel Tax Increment Financing Redevelopment Plan; approving the Savoy Hotel Tax Increment Financing Redevelopment Plan; and designating a Redevelopment Area.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended (the "Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, the Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts, closed said public hearing on February 24, 1999, and on February 24, 1999, approved Resolution No. 2‑10‑99 (the "Resolution") recommending to the City Council the approval of the Savoy Hotel Tax Increment Financing Plan (the "Redevelopment Plan"); and

 

WHEREAS, the Redevelopment Plan is a comprehensive program intended to satisfy, reduce or eliminate those conditions, the existence of which qualified the Redevelopment Area as a conservation area, and to enhance the tax base within the Redevelopment Area through the implementation of three Redevelopment Projects and the adoption of tax increment financing in the Redevelopment Projects Area; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendations of the Commission concerning the Redevelopment Plan as set forth in the Resolution attached hereto as Exhibit "A" are hereby accepted and the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B," is hereby approved and adopted as valid and the Redevelopment Projects contained therein are hereby authorized.

 

Section 2. 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 3. The following‑described tract is hereby designated a Redevelopment Area:

 

Beginning at the intersection of the center line of 9th Street as it now exists and the center line of Wyandotte Street as it now exists; thence south along the center line of Wyandotte Street to the intersection with the easterly extension of the south lot line of Lot 7, Block 3, ASHBURNS ADDITION; thence west along the south lot line of Lot 7, Block 3, ASHBURNS ADDITION, and the extensions of said line to the center line of the north south alley lying between Wyandotte Street and Central Street; thence north along the center line of the north south alley lying between Wyandotte Street and Central Street to the easterly


extension of the south lot line of Lot 18, Block 3, ASHBURNS ADDITION; thence west along the south lot line of Lot 18, Block 3, ASHBURNS ADDITION, and the extensions of said line to the center line of Central Street as it now exists; thence south along the center line of Central Street to the easterly extension of the south lot line of Lot 9, Block 4, ASHBURNS ADDITION; thence west along the south lot line of Lot 9, Block 4, ASHBURNS ADDITION, and the extensions of said line to the center line of the north south alley lying between Central Street and Wyandotte Street; thence north along the center line of the north south alley lying between Central Street and Wyandotte Street to the center line of 9th Street; thence east along the center line of 9th Street to the point of beginning, now all included in and a part of Kansas City, Jackson County, Missouri.

 

Section 4. In accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

 

A. The Redevelopment Area described in the Redevelopment Plan is a conservation area and the following factors are hereby found to exist within the Redevelopment Area, to‑wit:

 

a. dilapidation of structures

b. deterioration of structures

c. depreciation of physical maintenance

d. excessive vacancies

e. structures below minimum code requirements

 

B. The Redevelopment Area 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 Redevelopment Plan, and such fact is acknowledged by the Redeveloper in an affidavit included as Exhibit 9 (Affidavits and Certificates) to the Redevelopment Plan.

 

C. The Redevelopment Plan, conforms to FOCUS, the comprehensive plan for the development of the City as a whole.

 

D. The areas selected for Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefitted by the Redevelopment Project improvements.

 

E. The estimated dates of completion of the Redevelopment Projects and retirement of obligations incurred to finance redevelopment project costs have been stated in the Redevelopment Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area.

 

F. The Redevelopment Plan includes a plan for relocation assistance for businesses and residences.

 

G. A cost benefit analysis showing the impact of the Redevelopment Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act.

 

H. The Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

 

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the Savoy Hotel Account of the Special Allocation Fund to finance Redevelopment Project Costs within the 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 Redevelopment 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 6. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds that are deposited into the Savoy Hotel Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Redevelopment Area and authorizes the Commission to pledge such funds on its behalf.

 

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Approved as to form and legality:

 

 

 

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Assistant City Attorney