ORDINANCE NO. 900104
Approving and designating Phase VII of the Briarcliff
West Tax Increment Financing Plan as a Redevelopment Project Area and adopting
Tax Increment Financing therein.
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WHEREAS, the City Council of Kansas City, Missouri,
by Ordinance No. 54556 adopted on November 24, 1982, created the Tax Increment
Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on April 11, 1990, the Commission adopted a
resolution recommending to the City Council the adoption of a redevelopment
plan entitled the "Briarcliff West Tax Increment Financing Plan" (the
"Redevelopment Plan"); and
WHEREAS, on May 3, 1990, the City Council passed
Ordinance No. 65497, which accepted the recommendations of the Commission as to
the Redevelopment Plan; approved the Redevelopment Plan; declared the
Redevelopment Plan Area and each proposed Redevelopment Project Area as
blighted; approved Rock Quarry Redevelopment Corporation d/b/a Briarcliff West
as the Developer; approved an agreement with the Commission; and authorized the
execution of a development contract; and
WHEREAS, the Redevelopment Plan and Ordinance No.
65497 contemplate the designation of each phase of the Redevelopment Plan as a
separate Redevelopment Project Area at the discretion of the City Council and
the adoption of Tax Increment Financing therein; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. All terms used in this Ordinance shall
be con- strued as defined in Sections 99.800 to 99.865 of the Revised Statutes
of Missouri, as amended.
Section 2. The area set forth in the Redevelopment
Plan as Phase VII and legally described as follows:
PHASE VII
A tract of land in the Southeast quarter and the
fractional Southwest quarter of Section 3, Township 50, Range 33 and
the Northeast quarter and the fractional Northwest quarter of Section
10, Township 50, Range 33, Kansas City, Clay County, Missouri, being
bounded and described as follows: Commencing at the Southeast corner of
the fractional Southwest quarter of said Section 3; thence North 0
37'03" East, along the East line of said fractional Southwest quarter,
240.03 feet; thence North 89 22'57" West, 92.99 feet to the True
Point of Begin- ning of the tract to be herein described; thence
North 56 00'00" East, 186.01 feet to a point on the
Southwesterly Right of Way line of U.S. Highway Route 169, as now
esta- blished; thence Southeasterly, along said Right of Way line, on
a curve to the Left, having a radius of 1807.04 feet, an arc distance of
565.48 feet; thence North 54 57'11" East, along said Right of Way
line, 45.00 feet; thence Southeaster- ly, along said Right of Way line, on
a curve to the Left, having a radius of 1762.04 feet, an arc distance of
244.87 feet; thence South 45 37'36" East, along said Right of
Way line, 248.60 feet; thence South 46 46'26" East, along said
Right of Way line, 235.90 feet; thence South 45 32'42" East, along
said Right of Way line, 206.79 feet; thence South 30 38'51" East,
along said Right of Way line, 338.05 feet; thence South 18 39'45"
West, along said Right of Way line, 40.22 feet; thence South 28
15'21" East, along said Right of Way line, 39.78 feet; thence North
86 51'28" East, along said Right of Way line, 32.86 feet; thence
South 17 22'07" East, along said Right of Way line, 362.87 feet;
thence South 29 17'28" East, along said Right of Way line, 79.33
feet; thence South 9 25'11" East, along said Right of Way line,
148.72 feet; thence North 69 47'07" West, along said Right of Way
line, 87.46 feet; thence South 43 04'25" West, along said Right of
Way line, 49.25 feet to a point on the Northeasterly Right of Way line of
Missouri State Highway No. 9, as now established; thence North 53
46'06" West, along said Right of Way line, 2514.57 feet; thence North
40 13'03" East, 349.22 feet; thence South 53 46'06" East, 670.00
feet; thence North 36 13'54" East, 285.00 feet; thence North 34
00'00" West, 470.00 feet to the True Point of Beginning.
Containing 30.1421 acres, more or less. Subject to any and
alleasements and restrictions of record.
is hereby designed as a blighted area and is further
approved and designated as the Phase VII Redevelopment Project Area.
Section 3. Tax increment allocation financing is
hereby adopted for the Phase VII Redevelopment Project Area. After the total
equalized assessed valuation of the taxable real property in the Phase VII
Redevelopment Project Area exceeds the certified total initial equalized
assessed value of all taxable real property in such Redevelopment Project Area,
the ad valorem taxes and payments in lieu of taxes, if any, arising from the
levies upon taxable real property in such Redevelopment Project Area by taxing
districts and tax rates determined in the manner provided in Sub- section 2 of
Section 99.855, RSMo, each year after the effective date of this Ordinance
until redevelopment project costs have been paid shall be divided as follows:
(1) That portion of taxes levied upon each
taxable lot,
block, 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 Phase VII
Redevelopment Project Area 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
Phase VII Redevelopment Project Area over and above the initial equalized
assessed value of each such unit of property in the Phase VII
Redevelopments Project Area shall be allocated to and, when collected,
shall be paid to the City Treasurer, who shall deposit such payments in
lieu of taxes into the Special Allocation Fund of the City for the
purpose of paying redevelopment project costs and obligations
incurred in the payment thereof.
Section 4. Pursuant to Section 99.835, RSMo, if the
City issues obligations secured by the Special Allocation Fund to carry out the
redevelopment project, the City may pledge all or any part of the funds in the
Special Allocation Fund to the payment of the redevelopment projects costs and
obligations. Any pledge of funds in the Special Allocation Fund may provide
for distribution to the taxing districts of moneys not required for payment and
securing of the obligations, and such excess shall be deemed to be surplus
funds. The Redevelopment Plan calls for all or part of the pay- ments in lieu
of taxes attributable to certain redevelopment project area phases to be
treated as surplus funds to the extent such moneys are not required for payment
and securing of the obligations. Such surplus funds shall be distributed
annually to the taxing districts in the redevelopment project area by being
paid by the City Treasurer to the Clay County Collector, who shall immediately
thereafter make distribution to the respective taxing districts in the same
manner and proportion as the most recent distribution by the Collector to the
affected districts of real property taxes from real property in the
redevelopment project area.
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Approved as to form and
legality:
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Assistant City Attorney