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Legislation #: 130239 Introduction Date: 3/28/2013
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving the Third Amendment to the Union Hill Tax Increment Financing Plan for purposes of terminating the designation of Redevelopment Project Area W and distributing surplus funds to the taxing jurisdictions; and directing the City Clerk to transmit copies of this ordinance.

Legislation History
DateMinutesDescription
3/26/2013 Filed by the Clerk's office
3/28/2013 Referred to Planning, Zoning & Economic Development Committee
4/3/2013 Advance and Do Pass, Debate
4/4/2013 Passed

View Attachments
FileTypeSizeDescription
130239.pdf Authenticated 155K Authenticated
130239 Fact Sheet.pdf Fact Sheet 5699K Fact Sheet
Union Hill TIF - 3rd Amendment.pdf Plan 163K Union Hill TIF - 3rd Amendment
Union Hill TIF - 3rd Amendment - staff report.pdf Staff Report 90K Union Hill TIF - 3rd Amendment
Union Hill TIF - 3rd Amendment - map.pdf Maps 61K Union Hill TIF - 3rd Amendment
Union Hill TIF - 3rd Amendment - Request For Ordinance.pdf Request for Ordinance 15K Union Hill TIF - 3rd Amendment

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ORDINANCE NO. 130239

 

Approving the Third Amendment to the Union Hill Tax Increment Financing Plan for purposes of terminating the designation of Redevelopment Project Area W and distributing surplus funds to the taxing jurisdictions; and directing the City Clerk to transmit copies of this ordinance.

 

WHEREAS, the Union Hill Tax Increment Financing Plan, as subsequently amended, was approved by the City Council by passage of Committee Substitute for Ordinance No. 971698, As Amended; and

 

WHEREAS, the Third Amendment provides for: (a) the removal of all references to Redevelopment Project Area W (the “Redevelopment Project Area”) as all the improvements contemplated in connection with such Redevelopment Project Area have been completed and all redevelopment project costs to be funded by tax increment financing generated by such Redevelopment Project Area 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 Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”) which are outstanding under any Redevelopment Agreement for the Redevelopment Project Area 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 Area, have been certified and paid; and

 

WHEREAS, said Commission, having been duly constituted and its members appointed, and after all proper notice was given, 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 Third Amendment to the Union Hill Tax Increment Financing Plan, terminate the designation of Redevelopment Projects Area W, declare as surplus all funds within the Special Allocation Fund established for Redevelopment Projects Area W that are in excess of the existing and anticipated administrative costs and expenses of the Commission in connection with processing the termination of such Redevelopment Project Area 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 Third Amendment to the Union Hill Tax Increment Financing Plan, a copy of which is attached hereto as Exhibit “A”, is hereby approved and adopted as valid and the modifications contained therein are hereby authorized.

Section 2. The designation of Redevelopment Project Area W (the “Redevelopment Project Area”) is hereby terminated.

 

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

 

Section 4. The 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

 

Section 5. That the City Clerk shall send a copy of this ordinance to the County Clerk and County Executive of Jackson County, Missouri.

 

__________________________________________________

 

Approved as to form and legality:

 

 

_________________________________

Brian T. Rabineau

Assistant City Attorney