ORDINANCE NO. 911441
Approving Redevelopment Project 6 of the Winchester
Center Tax Increment Financing Plan as a Redevelopment Project and adopting Tax
Increment Financing therein.
WHEREAS, the City Council of Kansas City, Missouri
(the "City Council"), 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, on November 6, 1991, the Commission adopted
a resolution recommending to the City Council the adoption of a redevelopment
plan entitled the "Winchester Center Tax Increment Financing Plan"
(the "Redevelopment Plan"); and
WHEREAS, on ________________________, the City
Council adopted Ordinance No. 911435, which accepted the recommendations of the
Commission as to the Redevelopment Plan; approved the Redevelopment Plan; found
the Redevelopment Area to be a conservation area; designated the Redevelopment
Area as a redevelopment area pursuant to the Act; approved an agreement with
the Commission; and authorized the Commission to take all such action as may be
needed to effectuate the Plan; and
WHEREAS, the Redevelopment Plan and Ordinance No.
911435 contemplate the separate approval of each Redevelopment Project and the
adoption of Tax Increment Financing therein at the discretion of the City
Council; 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 Redevelopment Project 6 legally
described as:
All of Tract 4, WINCHESTER OFFICE CENTER WEST,
a subdivision according to the recorded plat thereof, together with
all that part of the North Half of Section 1, Township 48, Range 33, also
including portions of 63rd Street and Bennington Avenue, as said street
and avenue are now both established, all in Kansas City, Jackson
County, Missouri, and that part situate in the North Half of said Section
1, being more particularly described as follows:
Beginning at the Northwest corner of said Tract 4;
thence the following courses and distances along the Westerly line of
said Tract 4; thence South 2508'00" West, 215 feet; thence South
6000'00" West, 161 feet; thence South 3549'00" West, 293 feet
to the Southwest corner of said Tract 4; thence generally Northwesterly,
the following courses and distances; thence Northwesterly along a
straight line, deflecting 9631'52" to the right from the last
described course, a distance of 363.97 feet; thence Northwesterly along a
curve to the left tangent to the last described course, having a radius of
470 feet and a central angle of 2104'12", an arc distance of
172.56 feet; thence Northwesterly along a straight line, tangent to the
last described curve, a distance of 104.02 feet; thence Northwesterly
along a curve to the right, tangent to the last described course, having a
radius of 344.13 feet and a central angle of 339'46", an arc
distance of 22 feet; thence North 207'22" East, parallel with
the East line of the Northwest Quarter of said Section 1, a distance
of 380 feet; thence Southeasterly along a straight line, 955 feet, more or
less to the Point of Beginning.
is hereby approved.
Section 3. Tax increment allocation financing is
hereby adopted for Redevelopment Project 6. After the total equalized assessed
valuation of the taxable real property in the area selected for Redevelopment
Project 6 exceeds the certified total initial equalized assessed value of all
taxable real property in the area selected for such Redevelopment Project, the
ad valorem taxes and payments in lieu of taxes, if any, arising from the levies
upon taxable real property in the area selected for such Redevelopment Project
by taxing districts and tax rates determined in the manner provided in
Subsection 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:
a. 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 area selected
for Redevelopment Project 6 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.
b. 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 Redevelopment Project 6 over and above the initial
equalized assessed value of each such unit of property in the area
selected for Redevelopment Project 6 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 Winchester Center Special Allocation
Fund of the City for the purpose of paying Redevelopment Costs and
obligations incurred in the payment thereof.
Section 4. In addition to the payments in lieu of
taxes described above, and subject to annual appropriation, fifty percent (50%)
of the total additional revenue from taxes which are imposed by the
municipality or other taxing districts, and which are generated by economic
activities within the area selected for Redevelopment Project 6 over the amount
of such taxes generated by economic activities within the area selected for
Redevelopment Project 6 in the calendar year prior to the approval of Redevelopment
Project 6 by ordinance, while tax increment financing remains in effect, but
excluding taxes imposed on sales or 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 treasurer or other
designated financial officer of the municipality, who shall deposit such funds
in a separate segregated Winchester Center Economic Activities account within
the Winchester Center Special Allocation Fund for the retirement of obligations
or payment of Redevelopment Project Costs as defined in the Redevelopment Plan.
_____________________________________________
Approved as to form and
legality:
___________________________________
Assistant City Attorney