COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 911388

Approving and designating Phase V of the Briarcliff West Tax Increment Financing Plan as a Redevelopment Project Area 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, created the Tax Increment Financing Commission of Kansas City, Missouri (the Commission); and

WHEREAS, on April 11, 1990, the Commission adopted a resolution recommending to the City Council the adoption of a redevelopment plan entitled the Briarcliff West Tax Increment Financing Plan (the Redevelopment Plan); and

WHEREAS, on April 26, 1990, said date being within 14 to 90 days after the April 11, 1990 Commission hearing, Ordinance No. 65497 approving the Redevelopment Plan and Ordinance No. 900102 approving and designating Phase V of the Redevelopment Plan as a separate Redevelopment Project Area and adopting tax increment financing therein were introduced in the City Council; and

WHEREAS, on May 3, 1990, the City Council passed Ordinance No. 65497, which accepted the recommendations of the Commission as to the Redevelopment Plan; approved the Redevelopment Plan; declared the Redevelopment Plan Area and each proposed Redevelopment Project Area as blighted; approved Rock Quarry Redevelopment Corporation d/b/a Briarcliff West as the Developer; approved an agreement with the Commission; and authorized the execution of a redevelopment contract; and

WHEREAS, on November 21, 1991, the City Council, passed Committee Substitute for Ordinance No. 911387, As Amended, which accepted the recommendations of the Commission as to the First Amended Redevelopment Plan; approved the First Amended Redevelopment Plan; declared the Redevelopment Area and each proposed Redevelopment Project Area as blighted; approved Missouri Rental Machinery Company d/b/a Briarcliff West Development Company as the developer; approved an agreement with the Commission; and authorized the execution of a First Amended Development Contract; and

WHEREAS, on November 17, 1994, the City Council passed Ordinance No. 941342, which accepted the recommendations of the Commission as to the Second Amendment to the Briarcliff West Tax Increment Financing Plan and designated the expanded Redevelopment Area therein as a blighted area; and

WHEREAS, on July 31, 1997, the City Council passed Ordinance No. 970713, which accepted the recommendations of the Commission as to the Third Amendment to the Briarcliff West Tax Increment Financing Plan and designated the expanded Redevelopment Area therein as a blighted area; and

WHEREAS, the Redevelopment Plan, as amended, and Ordinance No. 65497, Committee Substitute for Ordinance No. 911387, As Amended, Ordinance No. 941342 and Ordinance No. 970713 contemplate the implementation of the Redevelopment Plan, as amended, through thirty-six total

Redevelopment Projects (including twenty-one additional Redevelopment Projects authorized by the Third Amendment in Ordinance No. 970713) and the adoption of tax increment financing in 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 provisions of Ordinance No. 900102 are incorporated herein as if fully set forth.

Section 3. The area set forth in the First Amended Redevelopment Plan as Phase V and legally described as follows:

PROJECT V

A tract of land being part of Tracts I and II of a certificate of survey of part of Block 2 and Tract HA-6, BRIARCLIFF WEST FIRST PLAT, a subdivision in Kansas City, Clay County, Missouri recorded in Cabinet E, Sleeve 108 in the Recorders Office of said Clay County described as follows: Beginning at the point of intersection of a line 180.00 feet northerly of and parallel with the centerline of old U.S. Highway No. 71 and the west line of the fractional SW of Section 3-T.50-R.33 (Clay County), said point being N 00 degrees-53 minutes-04 seconds E, along said west line, 342.71 feet from the southwest corner of said fractional SW ; thence N 00 degrees-53 minutes-04 seconds E, along said west line and the west line of said Block 2 and Tract HA-6, 477.94 feet; thence S 81 degrees-11 minutes-58 seconds E, 223.84 feet; thence S 23 degrees-46 minutes-21 seconds E, 142.28 feet; thence easterly, along a curve to the right having a radius of 425.00 feet and an initial tangent bearing of N 66 degrees-13 minutes-39 seconds E, an arc distance of 99.53 feet; thence northeasterly, along a curve to the left having a radius of 475.00 feet and tangent to the last described curve, an arc distance of 227.40 feet; thence N 52 degrees-12 minutes-55 seconds E, 21.31 feet; thence northerly, along a curve to the left having a radius of 25.00 feet and tangent to the last described course, an arc distance of 36.18 feet to the westerly right-of-way line of NW Mulberry Drive; thence southeasterly, along said line on a curve to the left having a radius of 381.00 feet and an initial tangent bearing of S 30 degrees-42 minutes-38 seconds E, an arc distance of 63.26 feet; thence S 46 degrees-44 minutes-04 seconds W, 233.01 feet; thence S 00 degrees-53 minutes-04 seconds W, 313.09 feet; thence S 21 degrees-43 minutes-30 seconds W, 158.63 feet to a line that is 180.00 feet northerly of and parallel with the centerline of old U.S. Highway No. 71; thence N 65 degrees-06 minutes-56 seconds W, along said line, 455.24 feet to the Point of Beginning.

is hereby designed as a blighted area and is further approved and designated as the Phase V Redevelopment Project Area.

Section 4. All of the Redevelopment Projects contained within the Phase V Redevelopment Project Area are hereby approved.

Section 5. Tax increment allocation financing is hereby adopted for the Phase V Redevelopment Project Area. After the total equalized assessed valuation of the taxable real property in the Phase V Redevelopment Project Area exceeds the certified total initial equalized assessed value of all taxable real property in such Redevelopment Project Area, the ad valorem taxes and payments in lieu of taxes, if any, arising from the levies upon taxable real property in such Redevelopment Project Area 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:

(1) 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 Phase V Redevelopment Project Area shall be allocated to and, when collected, shall be paid by the Clay 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 reach property in the Phase V Redevelopment Project Area over and above the initial equalized assessed value of each such unit of property in the Phase V Redevelopment Project Area 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 Special Association 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 60 days of the due date will be deemed delinquent and assessed a penalty of 1% per month.

Section 6. 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 Phase V Redevelopment Project Area over the amount of such taxes generated by economic activities within the Phase V Redevelopment Project Area in the calendar year prior to the adoption of the Phase V Redevelopment Project Area 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 of 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 account within the Briarcliff West Account of the special allocation fund for the retirement of obligations or payment of Redevelopment Project Costs and Redevelopment Costs as defined in the First Amended Redevelopment Plan.

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Approved as to form and legality:

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Assistant City Attorney