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Legislation #: 120659 Introduction Date: 7/19/2012
Type: Ordinance Effective Date: 8/5/2012
Sponsor: None
Title: Approving the Fourth Amendment to the Civic Mall Tax Increment Financing Plan; finding that all Redevelopment Project Costs to be funded from Payments in Lieu of Taxes and Economic Activity Taxes generated by Redevelopment Project Areas 64B, 65A and 65B, with the exception of remaining and anticipated TIF Commission administrative costs related to the actions contemplated by this Ordinance; terminating the designation of Redevelopment Project Areas  64B, 65A and 65B, declaring as surplus all Payments in Lieu of Taxes and Economic Activity Taxes in excess of amounts required to pay existing and anticipated TIF Commission administrative costs, distributing such surplus funds to the taxing jurisdictions and dissolving the special allocation fund for those Redevelopment Project Areas.

Legislation History
DateMinutesDescription
7/18/2012 Filed by the Clerk's office
7/19/2012 Referred to Planning, Zoning & Economic Development Committee
7/25/2012 Advance and Do Pass as a Committee Substitute, Debate
7/26/2012 Passed as Substituted

View Attachments
FileTypeSizeDescription
120659.pdf Authenticated 112K AUTHENTICATED
120659 Fact Sheet.xls Fact Sheet 76K Fact Sheet
Civic Mall TIF -4th Amendment - Request For Ordinance (00150513).DOCX Request for Ordinance 20K Civic Mall TIF - 4th Amendment
Civic Mall TIF - 4th Amend.pdf Plan 597K Civic Mall TIF - 4th Amendment
Civic Mall TIF - 4th Amend - staff report.pdf Staff Report 138K Civic Mall TIF - 4th Amendment

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 120659

 

Approving the Fourth Amendment to the Civic Mall Tax Increment Financing Plan; finding that all Redevelopment Project Costs to be funded from Payments in Lieu of Taxes and Economic Activity Taxes generated by Redevelopment Project Areas 64B, 65A and 65B, with the exception of remaining and anticipated TIF Commission administrative costs related to the actions contemplated by this Ordinance; terminating the designation of Redevelopment Project Areas  64B, 65A and 65B, declaring as surplus all Payments in Lieu of Taxes and Economic Activity Taxes in excess of amounts required to pay existing and anticipated TIF Commission administrative costs, distributing such surplus funds to the taxing jurisdictions and dissolving the special allocation fund for those Redevelopment Project Areas.

 

WHEREAS, the Civic Mall Tax Increment Financing Plan was approved by the City Council by passage of Committee Substitute for Ordinance No. 941589 on December 8, 1994, and has since been amended three times by Ordinance Nos. 970236, 980854 and 040706; and

 

WHEREAS, the Fourth Amendment provides for: (a) the removal of all references to Redevelopment Project Areas  64B, 65A and 65B (the “Redevelopment Project Areas”) as all the improvements contemplated in connection with such Redevelopment Project Areas have been completed and all redevelopment project costs to be funded by tax increment financing generated by such Redevelopment Project Areas have been paid and (b) certain other modifications to conform with existing Commission policies and procedures; and

 

WHEREAS, there are no contractual obligations of the TIF Commission which are outstanding under any Redevelopment Agreement for the Redevelopment Project Areas and all eligible reimbursable costs submitted for certification to the Commission, which are to be reimbursed from Payments in Lieu of Taxes and Economic Activity Taxes generated from the Redevelopment Project Areas, have been certified and paid;

 

WHEREAS, said Commission having 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 and adopted its Resolution recommending that the City Council approve the Fourth Amendment to the Civic Mall Tax Increment Financing Plan, terminate the designation of Redevelopment Projects Areas 64B, 65A and 65B, declare as surplus all funds within the Special Allocation Fund established for Redevelopment Projects Areas 64B, 65A and 65B that are in excess of the existing and anticipated administrative costs and expenses of the TIF Commission, in connection with processing the termination of such Redevelopment Project Areas and remit all such surplus funds to the affected taxing districts in accordance with Section 99.850 RSMo; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Fourth Amendment to the Civic Mall Tax Increment Financing Plan, a copy of which is attached hereto as Exhibit “A”, is hereby approved and adopted as valid and the modifications to the Redevelopment Projects contained therein are hereby authorized.

Section 2. The designation of Redevelopment Project Areas 64B, 65A and 65B (the “Redevelopment Project Areas”) by the following respective Ordinances Nos. 941605, 941604, and 941603 are each hereby terminated.

 

Section 3. All funds within the Special Allocation Fund established for Redevelopment Project Areas  64B, 65A and 65B that are in excess of existing and anticipated administrative costs and expenses of the TIF Commission, in connection with processing the termination of the Redevelopment Project Areas, are hereby declared as surplus.

 

Section 4. The TIF Commission is hereby authorized and directed to remit all such surplus funds identified by Section 3 to the affected taxing districts in accordance with Section 99.850, RSMo.

 

__________________________________________________

 

Approved as to form and legality:

 

 

_________________________________

Brian T. Rabineau

Assistant City Attorney