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