ORDINANCE NO. 011203

Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to the Barry Towne Tax Increment Financing Plan; approving the First Amendment to the Barry Towne Tax Increment Financing Plan; and designating an Expanded Redevelopment Area.

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 June 6, 1996, the City Council passed Committee Substitute for Ordinance No. 960307, which accepted the recommendations of the Commission as to the Barry Towne Tax Increment Financing Plan (Redevelopment Plan) and designated the Redevelopment Area therein to be an economic development area; and

WHEREAS, a first amendment to the Redevelopment Plan entitled the First Amendment to the Barry Towne Tax Increment Financing Plan (the First Amendment) affecting the area described therein (First Amended Redevelopment Area) was proposed to the Commission; and

WHEREAS, the purpose of the First Amendment is to expand the boundaries of the Redevelopment Area as defined by Committee Substitute for Ordinance No. 960307, add a regional stormwater detention facility improvement, revise the budget and revenue schedule, increasing the time for revenue collection from 15 to 23 years, change proposed land uses in Project Area VI and revise percentage of land use estimates in the Redevelopment Plan; and

WHEREAS, said 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 August 8, 2001, adopted Resolution No. 8-6-01 (Resolution) recommending that the City Council approve the First Amendment and designate the area described therein as a Redevelopment Area under the Act; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

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

Section 2. All terms used in this ordinance, not otherwise defined herein, 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 following described area constituting the Redevelopment Area, as amended, is hereby designated as a Redevelopment Area pursuant to the Act:

A tract of land lying in the Southeast Quarter, the Southwest Quarter, the Northwest Quarter and the Northeast Quarter of Section 10, and the Southwest Quarter and the Southeast Quarter of Section 3, all in Township 51, Range 33, Kansas City, Clay County, Missouri, and a tract of land lying in the Northeast Quarter of Section 10, the Southeast Quarter of Section 3, the Southeast Quarter of Section 4, and the Northeast Quarter of Section 9, all in Township 51, Range 33, Kansas City, Platte County, Missouri, being bounded and described as follows: Beginning at the Southwest corner of the Northwest Quarter of said Section 10, Township 51, Range 33, Kansas City, Clay County, Missouri; thence North 0^O30'58" East, along the West line of said Southwest Quarter, 1173.59 feet; thence South 89^O24'51" West, 187.78 feet; thence North 35^O04'44" West, 370.59 feet; thence North 0^O30' 58" East, 298.63 feet; thence Northwesterly along a curve to the right having an initial bearing of North 52^O36'03' West, a radius of 330.00 feet, an arc distance of 37.82 feet; thence North 46^O02'02" West, 389.77 feet; thence Northerly along a curve to the right, tangent to the last described course, having a radius of 430.00 feet, an arc distance of 226.45 feet; thence Northwesterly, along a curve to the left, having a common tangent with the last described course, a radius of 275.00 feet, an arc distance of 354.20 feet; thence North 89^o39'23" West, 170.22 feet; thence Southwesterly, along a curve to the left, tangent to the last described course, having a radius of 329.52 feet, an arc distance of 140.94 feet; thence South 65^o50'17" West, 38.73 feet; thence Southwesterly along a curve to the right, tangent to the last described course, having a radius of 803.02 feet, an arc distance of 145.41 feet; thence Southwesterly along a curve to the left, having a common tangent with the last described course, a radius of 415.74 feet, an arc distance of 87.32 feet; thence North 25^o18'38" West, 226.16 feet to a point on the South line of the Southeast Quarter of said Section 4, Platte County; thence North 89^O39'23" West, along said South line, 328.90 feet to a point on the East line of N.W. Old Stagecoach Road, as now established; thence North 58^O45'03" West, along said East line, 176.63 feet to a point on the South line of Missouri Route 152, as now established; thence Easterly along said South line, along a curve to the left, having an initial tangent bearing of North 82^O04'53" East, a radius of 3959.72 feet, an arc distance of 408.46 feet; thence North 88^O08'41" East, along said South line, 214.52 feet; thence North 64^O06'46" East, along said South line, 623.75 feet; thence North 87^O13'18" East along said South line, 383.90 feet; thence North 71^O20'49" East, along said South line, 604.67 feet to a point on the West line of N. Platte Purchase Drive, as now established; thence North 83^O34'11" East, 196.09 feet to a point on the East line of said N. Platte Purchase Drive, said point being also a point on the South line of said Missouri Route 152; thence North 66^O20'03" East, along said South line, 543.45 feet; thence North 40^O24'57" East, along said South line, 743.24 feet; thence North 67^O39'20" East, along said South line, 500.90 feet; thence North 69^O37'11" East, along said South line, 489.31 feet; thence South 77^O01'16" East, along said South line, 531.85 Feet; thence South 42^O42'55" East, along said South line, 531.60 feet; thence South 25^O29'58" East, along said South line, 403.61 feet; thence South 6^O24'11" East, along said South line, 274.74 feet to a point on the West line of U.S. Highway 169 (Arrowhead Trafficway); thence South along said West line along a curve to the left, having an initial tangent bearing of South 15^O47'15" West, a radius of 5839.58 feet, an arc distance of 1582.79 feet; thence South 0^O15'28" West, along said West line, 449.46 feet; thence South 25^O59'17" West along said West line 130.59 feet; thence South 37^O32'01" West, along said West line, 281.73 feet; thence South 52^O00'25" West, along said West line, 98.41 feet; thence South 46^O28'42" West, along said West line, 266.74 feet; thence Southerly along said Westerly line, along a curve to the left, tangent to the last described course, having a radius of 420.00 feet, an arc distance of 279.91 feet; thence South 8^O21'39" West, along said West line, 211.32 feet; thence South 28^O05'00" West, along said West line, 79.61 feet; thence South 71^O13'01" West, along said West line, 105.94 feet to a point on the North line of N.W. Barry Road, as now established; thence South 84^O47'52" West, along said North line, 100.50 feet; thence North 89^O29'31" West, along said North line, 125.92 feet to a point on the West line of the Northeast Quarter of said Section 10, Clay County; thence South 0^O35'35" West, along said West line, 79.99 feet to the Southwest corner of said Northeast Quarter; thence South 89^O29'15" East, along the North line of the Southeast Quarter of said Section 10, Clay County, 751.37 feet; thence South 10^O13'32" East, along the West line of said U.S. Highway 169, 301.45 feet; thence Westerly, on a curve to the left, having an initial tangent bearing of North 14^o1756 West, and a radius of 80.55 feet, an arc distance of 118.69 feet; thence South 76^o5504 West, 137.72 feet; thence South 00^o4207 West, 387.09 feet; thence South 88^o5503 East, 294.89 feet to a point on the Westerly right-of-way line of US Highway No. 169, as now established; thence South 10^o1332 East, along said right-of-way line, 332.67 feet; thence South 11^O12'33" East, along said West line, 126.50 feet; thence South 12^O01'43" East, along said West line 306.96 feet; thence South 0^O11'47" West, along said West line, 747.30 feet; thence Southerly along said West line, along a curve to the left, tangent to the last described course, having a radius of 5829.58 feet, an arc distance of 462.80 feet to a point on the South line of the Southeast Quarter of said Section 10, Clay County; thence North 89^O58'49" West, along said South line, 350.00 feet to the Southeast corner of ETHAN'S GLEN SECOND PLAT, A subdivision of land in Kansas City, Clay County, Missouri; thence North 0^O01'11" East, along the East line of said ETHAN'S GLEN SECOND PLAT, 425.65 feet; thence North 89^O58'49" West, along said East line, 50.00 feet; thence North 0^O01'11" East, along said East line, 100.00 feet; thence North 89^O58'49" West, along said East line, 50.00 feet; thence North 0^O01'11" East, along said East line, 200.00 feet; thence North 89^O58'49" West, along said East line 307.84 feet; thence North 5^O19'24" West, along said East line, 565.27 feet to a point on the South line of N.W. 82nd Street, as now established; thence North 32^O03'32" West, along said East line, 55.54 feet, to a point on the East line of ETHAN'S GLEN FIRST PLAT, a subdivision of land in Kansas City, Clay County, Missouri; thence North 29^O 48'24" West, along said East line, 211.32 feet; thence North 0^O23'04" East, along said East line, 128.41 feet; thence North 89^O23'25" West, along the North line of said ETHAN'S GLEN FIRST PLAT, 100.00 feet to a point on the West line of the Southeast Quarter of said Section 10, Clay County; thence South 0^O36'35" West, along said West line, 116.46 feet; thence North 35^O38'13" West, along the North line of said ETHAN'S GLEN FIRST PLAT, 238.34 feet; thence North 89^O29'15" West, along said North line, 222.00 feet; thence North 0^O09'45" East, 162.00 feet; thence North 89^O29'15" West, 94.50 feet; thence North 0^O09'45" East, 185.67 feet; thence North 89^O29'15" West, 34.78 feet; thence North 0^O09'45" East, 185.35 feet; thence North 89^O29'15" West, 562.72 feet; thence North 0^O10'13" East, 375.90 feet to a point on the North line of the Southwest Quarter of said Section 10, Clay County; thence North 89^O29'15" West, along said North line, 793.94 feet to the Point of Beginning. Containing 345.35 acres, more or less.

Section 4. The City Council hereby finds that:

(a) Good cause has been shown for amendment of the Redevelopment Plan, and that the findings of the City Council in Committee Substitute for Ordinance No. 960307 with respect to the Redevelopment Plan are not affected by the First Amendment and apply equally to the First Amendment;

(b) The Redevelopment Area, as amended, is an economic development area, as a whole, 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 Redevelopment Plan, as amended, and the First Amendment;

(c) The Redevelopment Plan, as amended, confirms to 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 therein which will be directly and substantially benefitted by the Redevelopment Project improvements;

(e) The estimated dates of completion of the respective Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs, have been stated in the Redevelopment Plan, as amended, and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area, as amended;

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

(g) A cost benefit analysis showing the impact of the First Amendment 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 First Amendment 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 Barry Towne Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area, as amended, 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 stake all such further actions as are reasonably necessary to achieve the objectives of the Redevelopment Plan, as amended, 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 and 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, as amended the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the Barry Towne Account of the Special Association Fund to the payment of Redevelopment Project Costs within the Redevelopment Area, as amended, 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