KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 110402 Introduction Date: 5/19/2011
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Redevelopment Project 3 of the First Amendment to the Amended and Restated Three Trails District Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.

Legislation History
DateMinutesDescription
5/19/2011 Filed by the Clerk's office
5/19/2011 Referred to Plans, Zoning & Economic Development Committee
5/25/2011 Hold Off Agenda
7/15/2015 Release
7/5/2016 Released

View Attachments
FileTypeSizeDescription
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110402 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110402
revised fact sheet.XLS Advertise Notice 98K revised fact sheet
00137499.DOCX Request for Ordinance 21K Ordinance Request for Project 3 in the First Amendment to the Amended and Restated Three Trails District TIF Plan.
00137493.XLS Fact Sheet 98K Approval of Project 3 in the First Amendment to the Amended and Restated Three Trails District Tax Increment Financing Plan

Printer Friendly Version

ORDINANCE NO. 110402

 

Approving and designating Redevelopment Project 3 of the First Amendment to the Amended and Restated Three Trails District Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therefor.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”), the City Council of Kansas City, Missouri by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, and Ordinance No. 100089, passed on January 28, 2010, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, on _________________, the City Council passed Committee Substitute for Ordinance No. 110364, which accepted the recommendations of the Commission as to the First Amendment to the Amended and Restated Three Trails District Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a blighted area; and

 

WHEREAS, the Redevelopment Plan and ordinance contemplate the implementation of the Redevelopment Plan through a number of 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. That 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. That the area selected for Redevelopment Project 3 legally described as follows:

 

All that part of Tract H, Benjamin Plaza 1st Plat, all of Lot 1, Amended Plat of Lot 1, Benjamin Plaza First Plat Lot 1, all of Benjamin Acres, all of Benjamin Acres 2nd Plat, all of Mobile Addition Lot 2, all that part of Lots 1 and 2, Amended Plat of Benjamin Plaza 4th Plat, and all that part of Hillcrest Road, together with unplatted tracts of land, subdivisions and land all lying in the Southwest Quarter of Section 24, Township 48 North, Range 33 West, in Kansas City, Jackson County, Missouri, described as follows: Beginning at the Northwest corner of Mobile Addition Lot 2, said point also lying on the South right of way line of 87th Street; thence South 86 degrees 46 minutes 33 seconds East along the South line of said road a distance 484.88 feet to a point; thence South 3 degrees 06 minutes 10 seconds West a distance of 187.47 feet to a point; thence in a Southwesterly direction along a curve to the right, having a radius of 1094.82 feet, through a central angle of 34 degrees 23 minutes 17 seconds, an arc distance of 657.09 feet to a point; thence North 52 degrees 30 minutes 33 seconds West a distance of 200.52 feet to a point; thence South 67 degrees 11 minutes 07 seconds West a distance of 107.47 feet to a point; thence North 46 degrees 17 minutes 59 seconds West a distance of 92.02 feet to a point; thence South 54 degrees 57 minutes 05 seconds West a distance of 498.20 feet to a point; thence North 88 degrees 04 minutes 47 seconds West a distance of 431.24 feet to a point; thence South 6 degrees 40 minutes 50 seconds West a distance of 273.51 feet to a point; thence South 39 degrees 00 minutes 39 seconds West a distance of 316.64 feet to a point; thence North 88 degrees 36 minutes 12 seconds West a distance of 166.23 feet to a point on the East right of way line of Interstate Highway 435; thence North 1 degree 27 minutes 59 seconds East along the East line of said highway a distance of 159.34 feet to a point; thence North 10 degrees 53 minutes 03 seconds East along the East line of said highway a distance of 100.12 feet to a point; thence North 19 degrees 11 minutes 12 seconds East along the East line of said highway a distance of 187.42 feet to a point; thence North 28 degrees 23 minutes 51 seconds East along the East line of said highway a distance of 570.00 feet to a point; thence North 38 degrees 08 minutes 51 seconds East along the East line of said highway a distance of 200.80 feet to a point; thence North 59 degrees 11 minutes 36 seconds East along the East line of said highway a distance of 326.32 feet to a point; thence North 56 degrees 59 minutes 24 seconds East along the East line of said highway a distance of 372.61 feet to a point on the South right of way line of 87th Street; thence North 84 degrees 00 minutes 32 seconds East along the South line of said road a distance of 76.62 feet to a point; thence South 86 degrees 46 minutes 56 seconds East along the South line of said road a distance of 163.06 feet to the point of beginning and containing 27.3 Acres, more or less.

 

and

 

All that part of Tract H, Benjamin Plaza 1st Plat, all that part of Lots 1, 2 and 3, Amended Plat of Benjamin Plaza 4th Plat, all that part of Benjamin Plaza Tract C and all that part of Hillcrest Road, all lying in the Southwest Quarter of Section 24, Township 48 North, Range 33 West, in Kansas City, Jackson County, Missouri, described as follows: Commencing at the Northwest corner of Mobile Addition Lot 2, a subdivision in Kansas City, Jackson County, Missouri, said point also lying on the South right of way line of 87th Street; thence South 86 degrees 46 minutes 33 seconds East along the South line of said road a distance 295.25 feet to a point; thence South 3 degrees 13 minutes 27 seconds West a distance of 806.22 feet to the point of beginning; thence in a Southwesterly direction along a curve to the right whose initial tangent bears South 37 degrees 29 minutes 27 seconds West, having a radius of 1094.82 feet, through a central angle of 17 degrees 56 minutes 17 seconds, an arc distance of 342.76 feet to a point; thence South 55 degrees 25 minutes 43 seconds West a distance of 329.34 feet to a point; thence in a Southwesterly direction along a curve to the left, having a radius of 800.00 feet, through a central angle of 44 degrees 47 minutes 27 seconds, an arc distance of 625.40 feet to a point; thence North 62 degrees 07 minutes 04 seconds West a distance of 615.17 feet to a point; thence North 39 degrees 00 minutes 39 seconds East a distance of 316.64 feet to a point; thence North 6 degrees 40 minutes 50 seconds East a distance of 273.51 feet to a point; thence South 88 degrees 04 minutes 47 seconds East a distance of 431.24 feet to a point; thence North 54 degrees 57 minutes 05 seconds East a distance of 498.20 feet to a point; thence South 46 degrees 17 minutes 59 seconds East a distance of 92.02 feet to a point; thence North 67 degrees 11 minutes 07 seconds East a distance of 107.47 feet to a point; thence South 52 degrees 30 minutes 33 seconds East a distance of 200.52 feet to the point of beginning and containing 14.0 Acres, more or less.

 

is approved and designated as the First Amendment to the Amended and Restated Three Trails District Tax Increment Financing Plan Redevelopment Project 3 (“Project 3”).

 

Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project 3. After the total equalized assessed valuation of the taxable real property in Project 3 exceeds the certified total initial equalized assessed valuation of the taxable real property in Project 3, 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 the Project 3 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 3 over and above the initial equalized assessed value of each such unit of property in the area selected for Project 3 shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payments in lieu of taxes, which are necessary to the payment of Project 3 Costs within the Redevelopment Area, 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. That in addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, fifty percent (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 3 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 of 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, which are necessary to the payment of Project 3 Costs within the Redevelopment Area, in a separate segregated account within the Special Allocation Fund.

 

_____________________________________________

 

Approved as to form and legality:

 

 

______________________________

Cecilia Abbott

Assistant City Attorney