COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 951362, AS AMENDED

Accepting the recommendations of the Tax Increment Financing Commission as to the Gateway 2000 Tax Increment Financing Plan; approving the Gateway 2000 Tax Increment Financing Plan; and designating the Redevelopment Area.

WHEREAS, the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, (the "Act"), authorizes municipalities to undertake redevelopment projects in blighted, conservation, or economic development areas, as defined in the Act; and

WHEREAS, the City Council of Kansas City, Missouri, by Ordinance No. 54556 adopted on November 24, 1982, amended by Ordinance No. 911076 adopted on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, said Commission has been duly constituted and its members appointed; and

WHEREAS, said Commission has approved a proposed redevelopment plan entitled the "Gateway 2000 Tax Increment Financing Plan" (the "Redevelopment Plan") attached hereto as Exhibit "A", affecting the area described in the Redevelopment Plan; and

WHEREAS, after all proper notice was given, the Commission met in a public hearing on September 20, 1995, and received the comments of all interested parties and taxing districts affected by the Redevelopment Plan; and

WHEREAS, the Redevelopment Plan contemplates the separate Redevelopment Projects to be undertaken and completed as market conditions dictate and that each Redevelopment Project be separately approved and Tax Increment Allocation Financing be adopted separately for each; and

WHEREAS, after due deliberation, on September 20, 1995, the Commission adopted its resolution recommending to the City Council that the Redevelopment Plan be approved, the Redevelopment Area be designated as such, Redevelopment Projects 1 through 3 be approved and tax increment financing be adopted with respect to each; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. All terms used in this ordinance must be construed as defined in Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended.

Section 2. The recommendations of the Commission concerning the Redevelopment Plan as set forth in the resolution attached as Exhibit "B" are accepted.

Section 3. The City Council finds that: a. The Redevelopment Plan consists of 3 Redevelopment Projects, each

Redevelopment Project to be approved by separate ordinance pursuant to the Redevelopment Plan;

b. The Redevelopment Area as a whole is a Blighted Area;

c. The Redevelopment Area as a whole has not been subject to growth or

development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the Redevelopment Plan;

d. The Redevelopment Plan conforms to the comprehensive plan for the

development of the City as a whole;

e. The estimated dates of completion of each of the respective Redevelopment

Projects and the retirement of obligations incurred to finance respective Redevelopment Costs have been stated in the Redevelopment Plan and are no more than 23 years from the estimated date of adoption of the respective ordinances approving Redevelopment Projects; and

f. The Redevelopment Plan includes a plan for the relocation assistance of

businesses and residents.

Section 4. The Redevelopment Plan, a copy of which is attached and incorporated by reference as Exhibit "A", is approved and the Redevelopment Area described as follows and as described in Exhibit "A" is designated a redevelopment area pursuant to the Act:

Part of Lots 4, 5, 6 & 7, all of Lots 8 thru 10 inclusive, and part of Lot 11 in Block 5; part of Lot 12, Block 6; all of Lots 3 thru 14, inclusive, in Block 11; AND all of Lots 1 thru 14, inclusive, in Block 12, in the "SECOND PLAT OF DEPOT ADDITION"; all of Lots 1 thru 5, inclusive in BOVARD & DICKSON'S SUBDIVISION; all of Lots 1 thru 11, inclusive, part of Lots 12 & 21 and all of Lots 22 thru 32, inclusive, in Block 9 AND all of Lots 1 thru 11, inclusive, part of Lots 12 & 21 and all of Lots 22 thru 32 in Block 10, in "SKILES AND WESTERN'S ADDITION", together with all or portions of the vacated streets, and alleys adjoining the above mentioned Lots, all being a part of Lot 2 in the Southwest Quarter of Fractional Section 6, Township 49 North, Range 33 West of the Fifth Principal Meridian in Kansas City, Jackson County, Missouri, according to the official plat of said land, filed in the District Land Office at St. Louis, Missouri, dated July 31, 1862 and being more particularly described as follows:

NOTE: Bearings stated in the following description are oriented to Geodetic North, computed from Kansas State Plane Coordinate values assigned to the intersection of the center line of Interstate Highway I-670 with the Kansas/Missouri State Line.

Beginning at a point on the Kansas/Missouri State Line and the West line of the Southwest Quarter of said Fractional Section 6, said point being 1016.21 feet North of the Southwest corner of the Southwest Quarter of said Fractional Section 6; thence North 0 12' 03" East 824.94 feet, along said Kansas/Missouri State Line, to a point on the South right-of-way line of Interstate Highway I-670, as now established; thence South 85 30' 45" East 63.93 feet, along said South right-of-way line, to the beginning of a curve concave to the South having a radius of 427.26 feet; thence Easterly, along said curve and said South right-of-way line 130.00 feet; thence South 18 30' 49" West 9.93 feet to a point on the North side of a concrete access road and access easement described in Book K-1859 at Page 873, and the beginning of a non-tangent curve concave to the South having a radius of 474.62 feet to which point a radial line bears North 18 30' 49" East; thence Easterly, along said curve and said North side, 80.37 feet; thence South 61 46' 59" East 170.29 feet, along said North side, to the beginning of a curve concave to the North having a radius of 382.84 feet; thence Easterly, along said curve and said North side, 175.63 feet; thence North 55 30' 16" East 25.99 feet to a point on the South right-of-way line of I-670 Highway, as now established; thence South 88 16' 01" East 30.00 feet, along said South right-of-way line, to a point on the West right-of-way line of Genessee Street as now established; thence South 1 47' 12" West 658.00 feet, along said West right-of-way line; thence North 88 03' 57' West 612.62 feet, to the point of beginning of the tract herein described, containing 455,882 square feet or 10.4656 acres, more or less.

Section 5. That the Commission be and is authorized to enter into all necessary agreements and take all such further action as may from time to time be required to effectuate the purposes of the Redevelopment Plan.

Section 6. The Commission is authorized to issue obligations, in one or more series, secured by the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area and each of the areas selected for Redevelopment Projects.

Section 7. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds generated from the Redevelopment Plan which are deposited into the Special Allocation Fund to the payment of Redevelopment Project Costs within the Redevelopment Area and each of the areas selected for Redevelopment Projects and authorizes the Commission to pledge such funds on its behalf.

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Approved as to form and legality:

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Assistant City Attorney