ORDINANCE NO. 060610
Accepting the recommendations of
the Tax Increment Financing Commission as to the Seventh Amendment to the Brush
Creek Corridor Tax Increment Financing Plan; and approving the Seventh
Amendment to the Brush Creek Corridor Tax Increment Financing Plan.
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, on
March 11, 1999, the City Council passed Ordinance No. 990251 which accepted the
recommendations of the Commission as to the Brush Creek Corridor Tax Increment
Financing Plan ("Redevelopment Plan") and designated the
Redevelopment Area therein to be a blighted area; and
WHEREAS, on June
8, 2000, the Council passed Ordinance No. 000606 approving the First Amendment
to the Redevelopment Plan which expanded the boundaries of the Redevelopment
Area described in the Plan, designated the Redevelopment Area, as amended, as a
Conservation Area under the Act and discussed the possibility of additional
Redevelopment Project Areas within the expanded area; and
WHEREAS, on
October 19, 2000, the Council passed Ordinance No. 001378 approving the Second
Amendment which provided for the addition of the Plaza East Project to the Plan
in four phases; and
WHEREAS, on
December 4, 2003, the Council passed Ordinance No. 031298 approving the Third
Amendment which increased the Plans overall total project costs to
$169,537,727.00, of which $45,615,182.00 will qualify as reimbursable project
costs; and
WHEREAS, on
March 4, 2004, the Council passed Committee Substitute for Ordinance No. 040101
approving the Fourth Amendment which provided for the construction of a grocery
store, retail and office in Projects B and C of the Blue Parkway Town Center
Redevelopment and expansion of the Redevelopment area and Project Area B, and
updated the Plan to reflect changes in estimated redevelopment costs, projected
revenues and other related details; and
WHEREAS, on May
6, 2004, the Council passed Ordinance No. 040483 approving the Fifth Amendment
which updated the Plan to reflect changes in the estimated redevelopment
project costs; and
WHEREAS, on
November 17, 2005, the Council passed Ordinance No. 051325 approving the Sixth
Amendment which implemented the suggestions made in the First Amendment to the
Brush Creek Corridor Tax Increment Financing Plan regarding additional
projects; and
WHEREAS, a
seventh amendment to the Redevelopment Plan (Seventh Amendment) was proposed
to the Commission; and
WHEREAS, said
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, closed
said public hearing on May 10, 2006, and adopted Resolution No. 5-6-06
("Resolution") recommending that the City Council approve the Seventh
Amendment; and
WHEREAS, the Seventh Amendment
provides for revision of the budget items for Off Site Improvements, On Site
Improvements, Utility Relocation, Executive Architect, and Arterial Street
Impact Fees, keeping the total budget unchanged; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. The
recommendation of the Commission concerning the Seventh Amendment as set forth
in the Resolution attached hereto as Exhibit "A" are hereby accepted
and the Seventh Amendment, a copy of which is attached hereto as Exhibit
"B", is hereby approved and adopted as valid.
Section 2. All
terms used in this ordinance, not otherwise defined herein, shall be construed
as defined in Section 99.800 to 99.865 of the Revised Statutes of Missouri, as
amended (the "Act").
Section 3. The
City Council hereby finds that:
(a) Good cause has been shown for amendment of the Redevelopment
Plan, and that the findings of the City Council in Ordinance No. 990251,
000606, 001378, 031298, 040101, 040483 and 051325 with respect to the
Redevelopment Plan are not affected by the Seventh Amendment and apply equally
to the Seventh Amendment;
(b) The Redevelopment Area is a blighted area, as a whole, and
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 Redevelopment Plan, as amended;
(c) The Redevelopment Plan, as amended, confirms to 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 therein 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 Redevelopment Plan, as
amended, and are not more than 23 years from the adoption of any ordinance
approving a Redevelopment Project within the Redevelopment Area;
(f) A plan has been developed for relocation assistance for
businesses and residences;
(g) A cost benefit analysis showing the impact of the Seventh
Amendment on each taxing district which is at least partially within the
boundaries of the Redevelopment Area has been prepared in accordance with the
Act;
(h) The
Redevelopment Plan, as amended, does not include the initial development or
redevelopment of any gambling establishment.
Section 4. The
Commission is authorized to issue obligations in one or more series of bonds secured
by the Brush Creek Corridor 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 Commission determines, to enter into such contracts and stake
all such further actions as are reasonably necessary to achieve the objectives
of the Redevelopment Plan, as amended, 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
and 99.865, which recital shall be conclusive evidence of their validity and of
the regularity of their issuance.
Section 5.
Pursuant to the provisions of the Redevelopment Plan, as amended the City
Council approves the pledge of all funds generated from Redevelopment Projects
that are deposited into the Brush Creek Corridor 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