COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 050834
Approving and designating
Redevelopment Project 1 of the Antioch Mall Tax Increment Financing Plan as a
Redevelopment Project and adopting tax increment financing therefore and
recognizing Eastbourne Investments, Ltd. as the developer for Project 1.
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 2, 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 as a blighted area; and
WHEREAS, the
Redevelopment Plan and ordinance contemplate the implementation of the
Redevelopment Plan through 9 Redevelopment Projects and the adoption of tax
increment financing in the area selected for such Redevelopment Project; 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 1 legally described as follows:
TRACT I:
All of Lots 1 through 12, inclusive,
Block 1, Resurvey of Blocks 1 and 3, ANTIOCH, an addition in and to the City of
Kansas City, Clay County, Missouri, together with the West 20 feet of Block 1,
GREEN HAVEN PLAZA NO. 2, lying South of Lot 11, Block 1, Resurvey of Blocks 1
and 3, ANTIOCH, an addition in and to the City of Kansas City, Clay County,
Missouri, and including to the centerline of all abutting streets.
TRACT II:
(PARCEL A)
Lot 4, Clay County, Missouri,
previously described as follows: All that part of Block 3, ANTIOCH, a
subdivision in Kansas City North, Clay County, Missouri, according to the
recorded plat thereof, lying South of a line drawn at right angles to the
Easterly line of said Block from a point in said Easterly line which is 150
feet North of the Southeast corner of said Block 3, measured along the Easterly
line of said Block 3, and including to the centerline of all abutting streets.
(PARCEL B)
Lot 3, and the South 20 feet of Lot 2,
Block 3, RESURVEY OF BLOCKS 1 AND 3, ANTIOCH, a subdivision of Clay County,
Missouri, and including to the centerline of all abutting streets.
(PARCEL C)
All of Lot 2, except the North 50 feet
thereof measured parallel to the North line of said lot, and except the South 20
Feet thereof measured parallel to the South line of said Lot, Block 3, RESURVEY
OF BLOCKS 1 AND 3, ANTIOCH, a subdivision in Kansas City, Clay County,
Missouri, and including to the centerline of all abutting streets.
(PARCEL D)
Lot 1 and the North 50 feet of Lot 2,
in Block 3, RESURVEY OF BLOCKS 1 AND 3, ANTIOCH, a subdivision in Kansas City, Clay County, Missouri, and including to the centerline of all abutting
streets.
KCATA TRACT:
All of Lot 2, ANTIOCH GREEN, a
subdivision in Kansas City, Clay County, Missouri, according to the recorded
plat thereof, and including to the centerline of all abutting streets.
TRACT III:
(PARCEL A)
Part of Block 2,
ANTIOCH, a subdivision in Kansas City, Clay County, Missouri, being a part of
the Northwest of Section 31, Township 51, Range 32, Kansas City, Clay County,
Missouri, described as follows: Beginning at a point on the Northeasterly
Right-of-Way line of Chouteau Trafficway, as shown on the plat of ANTIOCH, a
subdivision in Clay County, the Northerly portion of which is a replat of part
of the plat of GREEN HAVEN WEST, a subdivision in Clay County, said point being
50.00 feet Southerly along said Right-of-Way line, from the intersection of
said Chouteau Right-of-Way and the West Right-of-Way line of Kansas Avenue,
which was platted as Valley View Drive, and as shown on said plat of GREEN
HAVEN WEST; thence South 66 Degrees 44 Minutes 02 Seconds East 165.42 feet
along the Southerly line of the Big Shoal Greenway, Tract Number 106, as
conveyed by Antioch Shopping Center, Inc., to the Southwest corner of Lot 79,
GREEN HAVEN, a subdivision in Clay County, said corner being on the common
subdivision boundary line between the plat of GREEN HAVEN and the plat of
ANTIOCH, said common line also being the platted centerline of a ravine, said
corner further being on the North Right-of-Way line of Northeast 54th
Street; thence Southerly along said common line and centerline to the Northwest
corner of Lot 115, GREEN HAVEN, said corner being on the South Right-of-Way
line of Northeast 54th Street, said corner being South 30
Degrees 29 Minutes 21 Seconds West 50.03 feet from the Southwest corner of Lot
79, by direct measurement; thence continuing along said common line and
centerline, to the Southwest corner of Lot 115, GREEN HAVEN, said corner being
South 02 Degrees 51 Minutes 43 Seconds East 190.83 feet from the Northwest
corner of said Lot 115, by direct measurement; thence North 76 Degrees 47 Minutes
55 Seconds West 108.67 feet along a prolongation of the South line of Lots 111,
112, 113, 114 and 115, GREEN HAVEN, to a point on a curve in the Easterly
Right-of-Way line of Chouteau Trafficway; thence Northerly along said
Right-of-Way line, on a curve to the left having an initial tangent bearing of North
04 Degrees 25 Minutes 13 Seconds East, a delta of 21 Degrees 27 Minutes 13
Seconds, and a radius of 741.16 feet, an arc distance of 277.52 feet to the
point of beginning, and including to the centerline of all abutting streets.
(PARCEL B)
The South 500 feet of Block 2, ANTIOCH, a subdivision in Kansas City, Clay County, Missouri, and including to the
centerline of all abutting streets.
TRACT IV:
(PARCEL A)
Lot 39, except the
East 130 feet, as measured along the Northerly and Southerly lot lines thereof,
GREEN HAVEN, a subdivision in Kansas City, Clay County, Missouri, and including
to the centerline of all abutting streets.
(PARCEL B)
Lot 40, except the
East 130 Feet, as measured along the Northerly and Southerly lot lines thereof,
GREEN HAVEN, a subdivision in Kansas City, Clay County, Missouri.
(PARCEL
C)
Lot 41, except the
East 130 feet, as measured along the Northerly and Southerly lot lines thereof,
GREEN HAVEN, a subdivision in Kansas City, Clay County, Missouri.
(PARCEL D)
Lot 42, except the
East 130 feet, as measured along the Northerly and Southerly lot lines thereof,
GREEN HAVEN, a subdivision in Kansas City, Clay County, Missouri.
(PARCEL E)
Lot 43, GREEN HAVEN,
a subdivision in Kansas City, Clay County, Missouri, except beginning at the Northeast
corner of Lot 43; thence 145 feet Westerly along the boundaries of Lots 111 and
112; thence Southerly on a line parallel with the Easterly line of Lot 43 to
the South line of said lot; thence Easterly along the Southern boundary of said
Lot 43, to the East line of said lot; thence North along the Eastern line of
the lot to the point of beginning.
is approved and designated as the
Antioch Mall Tax Increment Financing Plan Redevelopment Project 1 (Project
1").
Section 3. Tax
increment allocation financing is hereby adopted for taxable real property in
the above described area selected for Project 1. After the total equalized
assessed valuation of the taxable real property in Project 1 exceeds the
certified total initial equalized assessed valuation of the taxable real
property in Project 1, 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 the Project 1 shall be allocated to and,
when collected, shall be paid by the Clay 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 Project 1 over and above the
initial equalized assessed value of each such unit of property in the area
selected for Project 1 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 Project 1 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.
Section 5. That the developer of Project 1 shall be
Eastbourne Investments, Ltd., subject to the terms of a development agreement
with the Tax Increment Financing Commission of Kansas City, Missouri.
_____________________________________________
Approved as to form and legality:
______________________________
Heather A. Brown
Assistant City Attorney