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Legislation #: 940725 Introduction Date: 6/9/1994
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Redevelopment Project G3 of the First Amendment to the Eleventh Street Corridor Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.

Legislation History
DateMinutesDescription
6/9/1994

Prepare to Introduce

6/9/1994

Referred Plans And Zoning Committee

6/15/1994

Hold Off Agenda

7/12/1995

Hold Off Agenda

1/24/1996

Hold Off Agenda

7/31/1996

Do Pass as a Committee Substitute

8/1/1996

Assigned to Third Read Calendar

8/8/1996

Passed as Substituted


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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 940725

 

Approving and designating Redevelopment Project G3 of the First Amendment to the Eleventh Street Corridor 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 December 10, 1992, the City Council adopted Ordinance No. 921355, which accepted the recommendations of the Commission as to the Eleventh Street Corridor Tax Increment Financing Plan ("Original Redevelopment Plan") and designated the Original Redevelopment Area to be a conservation area; and

 

WHEREAS, on June 23, 1994, the City Council passed Ordinance No. 940721, which approved the First Amendment to the Eleventh Street Corridor Tax Increment Financing Plan ("Amended Redevelopment Plan") and designated the Amended Redevelopment Area as a conservation area; and

 

WHEREAS, the Amended Redevelopment Plan and ordinance contemplate the implementation of the Amended Redevelopment Plan through sixteen (16) separate Redevelopment Projects in addition to those called for in the Original Redevelopment Plan 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 G3 legally described as follows:

 

Project Area I-A: (A part of consolidated Project Areas G3, I, P and Q)

 

All of Lots 1 through 24, inclusive, Block 3, together with the North-South alley, all in LUCAS PLACE, a subdivision in Kansas City, Jackson County, Missouri, being more particularly described as follows:

 

Beginning at the Southeast corner of Lot 13 of said Block 3, being also the point of intersection of the North right-of-way of 9th Street with the West right-of-way line of Washington Street, as said streets are now both established; thence North 87 30'25" West along the South line of said Lot 13 and its Westerly prolongation and along the South line of said Lot 12 and along said North right-of-way line, a distance of 255.22 feet (256' Plat) to the Southwest corner of said Lot 12, being also a point of intersection with the East right-of-way line of Pennsylvania Avenue, as now established; thence North 2 04'41" East along said East right-of-way line and along the West line of said Lots 12 through 1, inclusive, a distance of 600.48 feet (600' Plat) to the Northwest corner of said Lot 1 and a point of intersection with the South right-of-way line of 7th Street, as now established; thence South 87 29'09" East along said South right-of-way line and along the North line of said Lot 1 and its Easterly prolongation and along the North line of said Lot 24, a distance of 255.99 feet (256' Plat) to the Northeast corner of said Lot 24; thence South 2 09'06" West along the West right-of-way line of said Washington Street and along the East line of said Lots 24 through 1 inclusive, a distance of 600.38 feet (600' Plat) to the Point of Beginning. Containing 3.523 acres, more or less.

 

LESS AND EXCEPT

 

All that part of Lots 9 through 12, inclusive, together with that part of the North-South alley, Block 3, all in LUCAS PLACE, a subdivision in Kansas City, Jackson County, Missouri, lying below a horizontal plane, passing through an elevation of 209.00 of the Kansas City, Missouri Directrix, being more particularly described as follows:

 

Beginning at the Southeast corner of Lot 12 of said Block 3, being also the point of intersection of the North right-of-way of 9th Street with the East right-of-way line of Pennsylvania Avenue, as said street and avenue are now both established; thence North 2 04'41" East along said East right-of-way line and along the West line of said Lots 12 through 9, inclusive, a distance of 156.33 feet; thence South 87 30'25" East, parallel with the North right-of-way line of said 9th Street, a distance of 131.89 feet; thence South 2 29'35" West, perpendicular to the last described course, a distance of 46.67 feet; thence North 87 30'25" West, parallel with the North right-of-way line of said 9th Street, a distance of 10.00 feet; thence South 2 29'35" West, perpendicular to the last described course, 40 feet; thence South 87 30'25" East, parallel with said North right-of-way line, a distance of 10 feet; thence South 2 29'35" West, perpendicular to the last described course, a distance of 69.66 feet to a point on the Easterly prolongation of the South line of said Lot 12; thence North 87 30'25" West along the Easterly prolongation and along the North right-of-way line of said 9th Street and along the South line of said Lot 12, a distance of 130.76 feet to the Point of Beginning. Containing 20,130 square feet, more or less.

 

AND LESS AND EXCEPT

 

All of Lots 10 through 15, inclusive, together with that part of Lots 9 and 16, Block 3, together with that part of the North-South alley, all in LUCAS PLACE, a subdivision in Kansas City, Jackson County, Missouri, lying above a horizontal plane, passing through an elevation of 209.00 of the Kansas City, Missouri Directrix, being more particularly described as follows:

 

Beginning at the Southeast corner of Lot 13 of said Block 3, being also the point of intersection of the North right-of-way of 9th Street with the West right-of-way line of Washington Street, as said streets are now both established; thence North 87 30'25" West along the South line of said Lot 13 and its Westerly prolongation and along the South line of said Lot 12 and along said North right-of-way line, a distance of 255.22 feet (256' Plat) to the Southwest corner of said Lot 12, being also a point of intersection with the East right-of-way line of Pennsylvania Avenue, as now established; thence North 2 04'41" East along said East right-of-way line and along the West line of said Lots 12 through 9, inclusive, a distance of 156.33 feet; thence South 87 30'25" East parallel with the North right-of-way line and said 9th Street, a distance of 131.89 feet; thence North 2 29'35" East, perpendicular to the last described course, a distance of 15 feet; thence South 87 30'25" East, parallel with the North right-of-way line of said 9th Street, a distance of 123.44 feet to a point on the West right-of-way line of said Washington Street, being also a point on the East line of said Lot 16; thence South 2 09'06" West along the West right-of-way line of said Washington Street and along the East line of said Lots 16 through 13, inclusive, a distance of 171.33 feet to the Point of Beginning. Containing 41,766 square feet, more or less.

 

AND LESS AND EXCEPT

 

The West 40-2/3 feet of LOTS 13 and 14, BLOCK 3, LUCAS PLACE, a subdivision in Kansas City, Jackson County, Missouri according to the recorded plat thereof.

 

is approved and designated as the First Amendment to the Eleventh Street Corridor Tax Increment Financing Plan Redevelopment Project G3 ("Project G3").

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project G3. After the total equalized assessed valuation of the taxable real property in Project G3 exceeds the certified total initial equalized assessed valuation of the taxable real property in Project G3, 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 G3 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 G3 over and above the initial equalized assessed value of each such unit of property in the area selected for Project G3 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 G3 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