ORDINANCE NO. 120176
Accepting the recommendations of
the Tax Increment Financing Commission as to the Third Amendment to the Antioch
Mall Tax Increment Financing Plan; approving the Third Amendment to the Antioch
Mall Tax Increment Financing Plan; designating an amended Redevelopment Area; declaring
as surplus 50% of the Payments in Lieu of Taxes generated within Redevelopment
Project 10 of the Antioch Mall TIF Plan and terminating Redevelopment Project
1.
WHEREAS,
pursuant to the Real Property Tax Increment Allocation Redevelopment Act,
Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 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on November 24, 1982, and thereafter repealed and amended in certain respects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 for Ordinance No. 911076, as amended, passed on August
29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax
Increment Financing Commission of Kansas City, Missouri (the
"Commission"); and
WHEREAS, on
March 23, 2006, the City Council passed Ordinance No. 050833, which accepted
the recommendations of the Commission as to the Antioch Mall Tax Increment
Financing Plan (“Redevelopment Plan”) and designated the Redevelopment Area
therein to be a blighted area; and
WHEREAS, a First
Amendment to the Redevelopment Plan was approved by passage of Ordinance No.
071008 on September 25, 2008; and
WHEREAS, the
Second Amendment to the Redevelopment Plan (the “Second
Amendment”) was approved by passage of Ordinance No. 090036 on January 29, 2009;
and
WHEREAS, a third
amendment to the Redevelopment Plan (the “Third Amendment”) was proposed to the
Commission; 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 December 14, 2011, and adopted Resolution No. 12-05-11,
recommending that the City Council approve the Third Amendment; Resolution No.
12-06-11, recommending that the City Council declare as surplus Payments in
Lieu of Taxes (“PILOTs”) generated within Redevelopment Project 10 of the Redevelopment
Plan which are not to be used to repay redevelopment costs; and Resolution No.
12-07-11, recommending that Redevelopment Project 1 be terminated; and
WHEREAS, the Third
Amendment provides for the deletion of portions of the Redevelopment Area which
have been included in the Antioch Crossing Tax Increment Financing Plan and
corresponding modifications to the budget of Redevelopment Project Costs, and
modifications to the Estimated Payments in Lieu of Taxes and Economic Activity
Taxes over the life of the Redevelopment Plan; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the recommendations of the Commission concerning the Third Amendment as set
forth in the Resolution attached hereto as Exhibit A are hereby accepted and
the Third Amendment, 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. That
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. That
the Council hereby finds that:
(a) Good cause has been shown for amendment of the Redevelopment
Plan, and that the findings of the Council in Ordinance No. 050833 and 071008,
with respect to the Redevelopment Plan are not affected by the Third Amendment
and apply equally to the Third Amendment;
(b) The Redevelopment Area, as amended, is a blighted 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 Third
Amendment;
(c) The Redevelopment Plan, as amended, conforms 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 benefited 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) The plan has been developed for relocation assistance for
businesses and residences;
(g) The cost benefit analysis showing the impact of the Third
Amendment on each taxing district which is at least partially within the boundaries
of the Redevelopment Area, as amended, has been prepared in accordance with the
Act;
(h) The Third
Amendment does not include the initial development or redevelopment of any
gambling establishment.
(i) A blight study has been completed and the findings of such
study satisfy the requirements provided under Section 99.810.1, RSMo.
Section 4. That
the Commission is authorized to issue obligations in one or more series of
bonds secured by the Antioch Mall 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. 050833. Any obligations issued to finance
Redevelopment Project Costs shall contain a recital that they are issued pursuant
to Sections 99.800 through 99.865, RSMo., which recital shall be conclusive
evidence of their validity and of the regularity of their issuance.
Section 5. That
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 Antioch Mall Account of the Special Allocation 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.
Section 6. That
the Council hereby declares as surplus Payments in Lieu of Taxes (“PILOTs”)
generated within Redevelopment Project 10 of the Redevelopment Plan which are
not to be used to repay redevelopment costs.
Section 7. That
the Council hereby terminates Redevelopment Project 1 of the Redevelopment Plan.
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Approved as to form and legality:
______________________________
Cecilia Abbott
Assistant City
Attorney