ORDINANCE NO. 051013

 

Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to the Hotel Phillips Tax Increment Financing Plan; approving the First Amendment to the Hotel Phillips Tax Increment Financing Plan; and designating an expanded Redevelopment Area.

 

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, the Hotel Phillips Tax Increment Financing Plan was approved by the Council on April 6, 2000, by passage of Ordinance No. 000382; and

 

WHEREAS, the first amendment to the Hotel Phillips Tax Increment Financing Plan (the First Amendment) was proposed to the Commission; and

 

WHEREAS, the Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts with respect to the First Amendment, closed said public hearing on June 8, 2005, adopted its Resolution No. 67-05 (the Resolution) recommending to the City Council the approval of the First Amendment; and

 

WHEREAS, the First Amendment provides for expansion of the redevelopment area; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendation of the Commission concerning the First Amendment as set forth in the Resolution attached hereto as Exhibit "A", is hereby accepted and the Redevelopment Plan, a copy of which is attached hereto as Exhibit "B", is hereby approved and adopted.

 

Section 2. 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 (the "Act").

 

Section 3. The City Council hereby finds that good cause has been shown for the amendment of the Plan and that the findings of the Council in Ordinance No.000382 are not affected by the First Amendment and apply equally to the First Amendment. 

 

Section 4. The following described area is hereby designated a Redevelopment Area:

 

Lots 11 thru 18, inclusive, Block 20, Ashburns Addition, a subdivision in Kansas City, Jackson County, Missouri and Lots 1 thru 10, inclusive Block 19, ASHBURNS ADDITION and Lots 1 thru 10, SMARTS PARTITION NO. 1, except part in streets and part of east one half Government Lot 1 of Northwest Quarter, Section 5 49 33 all DAF beginning at the intersection of the north line of 12^th street and west line of Main St at a point 25.4 feet + north of south line of said Quarter section thence along the west line of Main, deeded 267.79 feet +, platted 267.85 feet to a point on a the south line of 11^th Street, deeded 4 feet, platted 3 feet west of the northeast corner of Lot 1 SMARTS PARTITION NO. 1 thence west along the south line of 11^th street, deeded 254.79 feet, platted 253.4 feet to the east line of Baltimore thence south along said east line 267 feet + to the north line of 12^th street thence east along said north line deed 254.47 feet +, platted 252.6 feet to the point of beginning and all vacated rights-of-way lying adjacent and contiguous thereto, all lying within Kansas City, Jackson County, Missouri.

 

Section 5. In accordance with the recommendations of the Commission as set forth in the Resolution, the City Council hereby finds that:

 

(a) The Redevelopment Area, as amended, as a whole is a conservation area, evidenced by obsolescence, due to lack of adequate parking, excessive vacancy, and lack of community planning and underutilization of valuable downtown real estate with vacant street front retail space and surface parking.

 

(b) The Redevelopment Area, as amended, has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the First Amendment to the Redevelopment Plan;

 

(c) The Redevelopment Plan conforms to FOCUS and the Downtown Land Use and Development Plan, together, the comprehensive plan for the development of the City as a whole;

 

(d) The areas selected for Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefited by the Redevelopment Project improvements;

 

(e) The estimated dates of completion of the respective Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs, have been stated in the First Amendment to the Redevelopment Plan, and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area, as amended;

 

(f) A plan has been developed for relocation assistance for businesses and residences;

 

(g) A cost-benefit analysis showing the impact of the First Amendment to the Redevelopment Plan on each taxing district at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act; and

 

(h) The First Amendment to the Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

 

Section 6. The City and/or the Commission is authorized to issue obligations in one or more series of bonds secured by the Hotel Phillips Tax Increment Financing Plan Account of the Special Allocation Fund to finance Redevelopment Project Costs within the Redevelopment Area and subject to any constitutional limitations, to acquire by purchase, donation, lease or eminent domain, own, convey, lease, mortgage, or dispose of, land or other property, real or personal, or rights or interests therein, and grant or acquire licenses, easements and options with respect thereto, all in the manner and at such price the City and/or the Commission determines, to enter into such contracts and take all such further actions as are reasonably necessary to achieve the objectives of the Redevelopment Plan pursuant to the power delegated to it in Ordinance No. 54556. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 to 99.865, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.

 

Section 7. Pursuant to the provisions of the Redevelopment Plan, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the Hotel Phillips Tax Increment Financing Plan Account of the Special Allocation Fund to the payment of Redevelopment Project Costs within the Redevelopment Area 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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Heather A. Brown

Assistant City Attorney