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Legislation #: 030275 Introduction Date: 3/6/2003
Type: Ordinance Effective Date: 4/13/2003
Sponsor: None
Title: Approving and designating Redevelopment Project A of the Southtown Corridor/31st _ Baltimore Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.

Legislation History
DateMinutesDescription
3/6/2003

Prepare to Introduce

3/6/2003

Referred Planning, Zoning & Economic Development Committee

3/12/2003

Hold On Agenda

3/19/2003

Do Pass

3/20/2003

Assigned to Third Read Calendar

3/27/2003

Passed

4/3/2003

Reconsidered

4/3/2003

Amended

4/3/2003

Passed as Amended


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ORDINANCE NO. 030275, AS AMENDED

 

Approving and designating Redevelopment Project A of the Southtown Corridor/31st & Baltimore Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.

 

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 May 19, 1994, the City Council passed Ordinance No. 940564, which accepted the recommendations of the Commission as to the Southtown Corridor/31st & Baltimore Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area to be a conservation area; and

 

WHEREAS, the Redevelopment Plan and ordinance contemplate the implementation of the Redevelopment Plan through fifteen (15) separate Redevelopment Projects and the adoption of tax increment financing in each of the areas selected for such Redevelopment Projects; 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 A legally described as follows:

 

Part of the Southeast 1/4 and part of the Southwest 1/4 of Section 4, Township 48, Range 33, in Kansas City, Jackson County, Missouri, including Lots 1 through 24, both inclusive, "ELM RIDGE", a subdivision of land in said city, county and state, described as follows: Beginning at the northeast corner of said Southeast 1/4 Section; thence west along the north line of said Southeast 1/4 Section, a distance of 2635 feet, more or less, to the northeast corner of said Southwest 1/4 Section; thence west along the north line of said Southwest 1/4 Section, a distance of 835 feet, more or less, to a point in the Paseo; thence southerly, southeasterly and easterly along a line that is 110 feet westerly, southwesterly and southerly of and concentric with the westerly, southwesterly and southerly right of way line of the Paseo, a distance of 3180 feet, more or less, to a point on the centerline of Meyer Boulevard; thence easterly along said centerline, a distance of 1615 feet, more or less, to the east line of said Southeast 1/4 Section; thence north along said east line, a distance of 1940 feet, more or less, to the point of beginning.

Except that part of the Northeast 1/4 of the Southeast 1/4 of Section 4, Township 48, Range 33, in Kansas City, Jackson County, Missouri, described as follows: Beginning at the intersection of the south right of way line of 63rd Street with the west right of way line of


Prospect Avenue, as both are now established; thence south along the west right of way line of Prospect Avenue, 400 feet; thence west parallel with the south right of way line of said 63rd Street, 425 feet; thence north, parallel with the west right of way line of said Prospect Avenue, of 400 feet to the south right of way line of said 63rd Street; thence east along said south right of way line, of 425 feet to the point of beginning.

Also except all that part of Lot 10 and all of Lots 11 and 12, "ELM RIDGE", a subdivision of land in the City of Kansas City, Jackson County, Missouri, according to the recorded plat thereof, a part of vacated 65th Street and a part of Lots 117 and 130 and all of Lots 115, 116, 131 and 132, "HARPERS MEYER BOULEVARD ADDITION", a subdivision of land in Kansas City, Jackson County, Missouri, according to the recorded plat thereof (now vacated by Ordinance No. A 691497), in the Southeast 1/4 of Section 4, Township 48, Range 33, more particularly described as follows: Commencing at the northwest corner of the Southeast 1/4 of said Section 4; thence South 86 degrees 52 minutes 49 seconds East along the north line of the Southeast 1/4 of said Section 4, 630.63 feet; thence South 2 degrees 22 minutes 51 seconds West along the west line of Euclid Avenue and its' prolongation thereof, as now established, 985.00 feet to a point on the east line of said Lot 10, said point being 22.00 feet south of the northeast corner of said Lot 10, to the true point of beginning; thence South 2 degrees 22 minutes 51 seconds West along the east line of said Lots 10, 11, 12, 115, 116 and 117, 506.30 feet to a point which is 170.62 feet south of the south line of the Northwest 1/4 of the Southeast 1/4 of said Section 4; thence North 86 degrees 56 minutes 29 seconds West parallel with said south line, 294.64 feet; thence North 2 degrees 22 minutes 51 seconds East, 170.62 feet to a point on the south line of the Northwest 1/4 of the Southeast 1/4 of said Section 4; thence North 86 degrees 56 minutes 29 seconds West along said south line, 5.74 feet to an intersection with the prolongation south of the west line of said Lot 12; thence North 2 degrees 23 minutes 04 seconds East along said prolongation and along the west line of said Lot 12, 11 and 10, 336.00 feet to a point on the south line of the north 985 feet of the Northwest 1/4 of the Southeast 1/4 of said Section 4; thence South 86 degrees 52 minutes 49 seconds East along said south line, 300.36 feet to the point of beginning.

Excluding the property described as A tract of land over part of Lot 2, RESEARCH MEDICAL CENTER, a subdivision in the City of Kansas City, Jackson County, Missouri, more particularly described as follows: Beginning at the Northeast corner of Lot 4 of said RESEARCH MEDICAL CENTER, said point also being on the South right-of-way line of 63rd Street, as now established; thence South 86 degrees 55 minutes 20 seconds East, along the South right-of-way line of said 63rd Street, a distance of 391.06 feet; thence South 02 degrees 21 minutes 06 seconds West, departing said South right-of-way line, along a line parallel with the East line of the Southeast Quarter of Section 4, Township 48, Range 33, in said city, county and state, a distance of 390.00 feet; thence North 86 degrees 55 minutes 20 seconds West, along a line parallel with the South right-of-way line of said 63rd Street, a distance of 34.10 feet, to a point of curvature; thence Westerly and Southwesterly, along a curve to the left, having a radius of 489.89 feet, and a central angle of 32 degrees 13 minutes 43 seconds, a distance of 275.56 feet; thence North 56 degrees 55 minutes 20 seconds West, a distance of 98.89 feet, to a point on the East line of said Lot 4; thence North 03 degrees 04 minutes 40 seconds East, along the East line of said Lot 4, a distance of 210.00 feet, to a jog on the East line of said Lot 4; thence North 86 degrees 55 minutes 20 seconds West, along said jog, a distance of 15.00 feet thence North 03 degrees 04 minutes 40 seconds East, continuing along the East line of said Lot 4, a distance of 206.00 feet, to the Point of Beginning, containing 161,406.3770 square feet or 3.7054 acres, more or less.

 

is approved and designated as the Southtown Corridor/31st & Baltimore Tax Increment Financing Plan Redevelopment Project A ("Project A").

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project A. After the total equalized assessed valuation of the taxable real property in Project A exceeds the certified total initial equalized assessed valuation of the taxable real property in Project A, 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 Project A shall be allocated to and, when collected, shall be paid by the Jackson 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 A over and above the initial equalized assessed value of each such unit of property in the area selected for Project A 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 A 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.

 

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Approved as to form and legality:

 

 

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Assistant City Attorney