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Legislation #: 970382 Introduction Date: 3/27/1997
Type: Ordinance Effective Date: 7/28/2002
Sponsor: None
Title: Approving and designating Project 8 (Kirkwood) of the Country Club Plaza Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therein.

Legislation History
DateMinutesDescription
3/27/1997

Prepare to Introduce

3/27/1997

Referred Planning, Zoning & Economic Development Committee

4/2/1997

Hold On Agenda

4/9/1997

Hold Off Agenda

7/8/1998

Hold Off Agenda

1/20/1999

Hold Off Agenda

1/9/2002

Hold Off Agenda

7/10/2002

Hold On Agenda

7/17/2002

Advance and Do Pass

7/18/2002

Passed


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970382.pdf Authenticated 320K Authenticated Ordinance with Fact Sheet

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ORDINANCE NO. 970382

 

Approving and designating Project 8 (Kirkwood) of the Country Club Plaza Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therein.

 

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

 

WHEREAS, on _____________, 1997, the City Council passed Ordinance No. 970374, which approved the Country Club Plaza Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a conservation area; and

 

WHEREAS, the Redevelopment Plan and Ordinance contemplate the implementation of the Redevelopment Plan through nine separate Redevelopment Projects and the adoption of tax increment financing in each of the areas selected for such Redevelopment Projects; 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 area selected for Project 8 (Kirkwood), legally described as follows:

 

All of Block E, except Lots 1, 2, 3, 4, 5, 11, 12, 23 and 24, all of Block F and all of Lots 1 through 12, Block G, BISMARK PLACE, a subdivision, according to the recorded plat thereof, together with portions of 49th. Street, 50th. Street, Wornall Road, Central Street, Wyandotte Street as said streets and road are now established and other lands, all in the West Half of the Southwest Quarter of Section 29, Township 49, Range 33, in Kansas City, Jackson County, Missouri, being more particularly described as follows: Beginning at the Southwest corner of Lot 5, Block E of said BISMARK PLACE, being also a point on the East right-of-way line of Wornall Road, as now established; thence North 8725'22" West, 30.00 feet to a point on the West line of Southwest Quarter of said Southwest Quarter; thence South 234'38" West along said West line, a distance of 373.72 feet to a point of intersection with the centerline of said 50th. Street; thence South 8704'13" East along said centerline, 661.04 feet to a jog in said centerline and a point on the centerline of said Wyandotte Street produced South; thence South 236'20" West along said centerline and along said jog, 21.43 feet (22.00 feet, plat); thence South 8707'13" East along the centerline of said 50th. Street, 165.92 feet to a point of intersection with the prolongation South of the East line of Lots 1 through 12 in said Block G; thence North 232'41" East along said prolongation and along the East line of said Lot 12, a distance of 30.00 feet to a point which is 5.00 feet North of the Southeast corner thereof, said point being also on the West line of Block 2, BOARD OF TRADE CENTER, a subdivision in said City, County and State, according to the recorded plat thereof, being also a point which is 0.12 feet North of the Southwest corner thereof; thence continuing North 232'41" East along said West line and along the East line of Lots 12 through 1 in said Block G, a distance of 543.02 feet, to a point which is 22.00 feet South of the North line of said Southwest Quarter, Quarter Section, being also the Northwest corner of said Block 2, BOARD OF TRADE; thence continuing North 232'41" East, 40.50 feet to a point on the centerline of 49th. Street, as now established; thence the following courses and distances along said centerline; thence North 8717'55" West, 133.65 feet; thence Northwesterly along a curve to the right, tangent to the last described course, having a radius of 649.90 feet and a central angle of 809'13", an arc distance of 92.49 feet; thence North 7908'42" West, 182.99 feet; thence Westerly and Southwesterly along a curve to the left, tangent to the last described course, having a radius of 159.92 feet and a central angle of 2214'49", an arc distance of 62.09 feet; thence South 7836'29" West, tangent to the last described curve, 146.97 feet; thence Southwesterly along a curve to the right, tangent to the last described course, having a radius of 400 feet and a central angle of 777'40", an arc distance of 50.93 feet to a point of intersection with the Northerly prolongation of the East line of Lots 1-5, inclusive of said Block E; thence South 232'21" West along said prolongation, 27.85 feet to the Northeast corner of said Lot 1; thence continuing South 232'21" West along the East line of said Lots 1 through 5, Block E, a distance of 249.34 feet (250.00 feet, plat) to the Southeast corner of said Lot 5; thence North 8717'06" West along the South line of said Lot 5, 135.52 feet to the point of beginning. Less and except Lots 11, 12, 23 and 24, Block E, BISMARK PLACE and except that part of said Blocks that are now taken for right-of-way.

 

is approved and designated as Project 8 (Kirkwood).

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project 8 (Kirkwood). After the total equalized assessed valuation of the taxable real property in Project 8 (Kirkwood) exceeds the certified total initial equalized assessed valuation of the taxable real property in such area, the ad valorem taxes, and payment in lieu of taxes, if any, arising from the levies upon the taxable real property in such project by taxing districts and tax rates determined in the manner provided in subsection 2 of Section 99.855 each year after the effective date of the ordinance until redevelopment costs have been paid shall be divided as follows:

 

1. That portion of taxes levied upon each taxable lot, block, tract 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 Project 8 (Kirkwood) 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;

 

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 area selected for Project 8 (Kirkwood) over and above the initial equalized assessed value of each such unit of property shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payment in lieu of taxes into a special fund called the "Special Allocation Fund" of the City for the purpose of paying Redevelopment Project Costs and obligations incurred in the payment thereof. Any payments in lieu of taxes which are not paid within sixty (60) days of the due date shall be deemed delinquent and shall be assessed a penalty of one percent (1%) per month.

 

Section 4. In addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, 50% of the total additional revenue from taxes which are imposed by the City or taxing districts, and which are generated by economic activities within the area selected for Project 8 (Kirkwood) over the amount of such taxes generated by economic activities within such area in the calendar year prior to the adoption of this 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 City Treasurer or other designated financial officer of the City, who shall deposit such funds in a separate segregated account within the Special Allocation Fund.

 

Section 5. The area selected for Project 8 (Kirkwood) includes only those parcels of real property and improvements thereon which will be substantially benefitted by the proposed redevelopment project improvements.

 

___________________________________________________________________

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney