ORDINANCE NO. 990155

Approving the development plan submitted by the Bannister Plaza Redevelopment Corporation on a tract of land of approximately 33.41 acres generally located at the northwest corner of Bannister Road and Holmes Road; declaring the area included in such plan to be a blighted area and its redevelopment necessary for the preservation of the public peace, prosperity, health, safety, morals and welfare; authorizing the Director of Finance to enter into a contract with the Bannister Plaza Redevelopment Corporation; and authorizing certain tax abatement within the plan area.

WHEREAS, Bannister Plaza Redevelopment Corporation, an urban redevelopment corporation organized under and pursuant to the Urban Redevelopment Corporations Law and amendments thereto, did on November 6, 1998, file with the City Clerk an application for approval of a development plan which contemplated the redevelopment of a tract of land of approximately 33.41 acres generally located at the northwest corner of Bannister Road and Holmes Road; and

WHEREAS, the City Clerk did refer said application for a development plan to the City Plan Commission; and

WHEREAS, the City Plan Commission did cause to be published in The Daily Record, a newspaper doing the City's printing, on November 30, 1998, that date being not less than ten days prior to the date set for the hearing, notice of the public hearing on said development plan; and

WHEREAS, said City Plan Commission did hold a public hearing on said development plan on January 19, 1999; and

WHEREAS, at the public hearing conducted by the City Plan Commission, all interested parties were given an opportunity to be heard at said public hearing; and

WHEREAS, the City Plan Commission has made a study and investigation of the proposed development plan and did, on January 19, 1999, recommend approval of said development plan, including a recommendation of approval concerning the finding of blight, and did submit a report of the same, a copy of which is attached hereto and incorporated herein by reference as Exhibit "A"; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the development plan for the Bannister Plaza Redevelopment Corporation, a copy of which is on file in the office of the City Clerk under Document No. 990155, which is attached hereto and incorporated herein by reference, is hereby approved.

Section 2. That the Council finds and declares that the area being described in the aforesaid development plan submitted by the Bannister Plaza Redevelopment Corporation is a blighted area as defined by Section 353.020(2), Revised Statutes of Missouri, and Section 74-4, Code of Ordinances of the City of Kansas City, Missouri, and the redevelopment thereof is necessary for the

public convenience and necessity; and that approval of the development plan and construction of the redevelopment project are necessary for the preservation of the public peace, prosperity, health, safety, morals and welfare.

Section 3. That the Director of Finance be, and she is hereby, authorized and directed on behalf of the City to enter into a contract with the Bannister Plaza Redevelopment Corporation, a copy of which, in substantial form, is attached hereto and made a part hereof as Exhibit "B".

Section 4. That the Bannister Plaza Redevelopment Corporation is hereby granted tax abatements on land and improvements as provided in Exhibit "B".

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I hereby certify that all public notices and hearings required by Chapter 74, Code of Ordinances of the City of Kansas City, Missouri, have been given and had.

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Secretary, City Plan Commission

Approved as to form and legality:

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Assistant City Attorney