ORDINANCE NO. 970726

Approving and designating Redevelopment Project No. XXVIII of the Briarcliff West Tax Increment Financing Plan, as amended, 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WHEREAS, the City Council of Kansas City, Missouri, by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing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 May 3, 1990, the City Council passed Ordinance No. 65497, which accepted the recommendations of the Commission as to the Briarcliff West Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area therein to be a blighted area; and

WHEREAS, on November 21, 1991, the City Council passed Committee Substitute for Ordinance No. 911387, which accepted the recommendations of the Commission as to the First Amended Briarcliff West Tax Increment Financing Plan and designated the expanded Redevelopment Area therein as a blighted area; 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 Briarcliff West Tax Increment Financing Plan and designated the expanded Redevelopment Area as a blighted area; and

WHEREAS, on ____________, 1997, the City Council passed Ordinance No. 970713, which approved the Third Amendment to the Briarcliff West Tax Increment Financing Plan ("Third Amendment") and designated the expanded Redevelopment Area as a blighted area; and

WHEREAS, the Redevelopment Plan, as amended, and Ordinance No. 65497, Committee Substitute for Ordinance No. 911387, 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 not otherwise defined herein, 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 Briarcliff West Redevelopment Project No. XXVIII, legally described as follows:

PROJECT XXVIII: CONTAINING APPROXIMATELY 167,300 SQ. FT. OR 3.84 ACRES

A TRACT OF LAND BEING PART OF WILLSON RITCHEY, A SUBDIVISION IN KANSAS CITY, CLAY COUNTY, MISSOURI AND PART OF FRACTIONAL NW 1/4 OF SECTION 10T.50-R.33, KANSAS CITY, CLAY COUNTY, MISSOURI DESCRIBED AS FOLLOWS: COMMENCING AT THE NW CORNER OF SAID FRACTIONAL NW 1/4; THENCE S 00 DEGREES 49 MINUTES 11 SECONDS W, ALONG THE WEST LINE OF SAID FRACTIONAL NW 1/4, 453.61 FEET TO THE SOUTHWESTERLY RIGHT-OF-WAY LINE OF MISSOURI HIGHWAY NO. 9; THENCE SOUTHEASTERLY, ALONG SAID LINE, ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 2709.79 FEET AND AN INITIAL TANGENT BEARING OF S 74 DEGREES 16 MINUTES 15 SECONDS E, AN ARC DISTANCE OF 68.33 FEET TO A POINT 155.00 FEET FROM AND OPPOSITE CENTERLINE STATION 1+19.93; THENCE S 48 DEGREES 26 MINUTES 36 SECONDS E, CONTINUING ALONG SAID LINE, 682.53 FEET TO A POINT 380.00 FEET FROM AND OPPOSITE CENTERLINE STATION 7+90; THENCE S 79 DEGREES 49 MINUTES 49 SECONDS E, CONTINUING ALONG SAID LINE, 75.47 FEET; THENCE S 00 DEGREES 49 MINUTES 11 SECONDS W, 355.98 FEET; THENCE S 89 DEGREES 10 MINUTES 49 SECONDS E, 57.00 FEET TO THE POINT OF BEGINNING OF THE TRACT TO BE DESCRIBED HEREIN; THENCE S 89 DEGREES 10 MINUTES 49 SECONDS E, 287.00 FEET; THENCE S 00 DEGREES 49 MINUTES 11 SECONDS W, 572.89 FEET; TO THE SOUTHERLY LINE OF SAID WILLSON RITCHEY; THENCE S 86 DEGREES 51 MINUTES 56 SECONDS W, ALONG SAID LINE, 144.45 FEET; THENCE S 86 DEGREES 44 MINUTES 57 SECONDS W, CONTINUING ALONG SAID LINE, 143.25 FEET; THENCE N 00 DEGREES 49 MINUTES 11 SECONDS E, 593.02 FEET TO THE POINT OF BEGINNING.

is approved and designated as Briarcliff West Redevelopment Project No. XXVIII (hereinafter "Project No. XXVIII").

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project No. XXVIII. After the total equalized assessment valuation of the taxable real property in Project No. XXVIII exceeds the certified total initial equalized assessed valuation of the taxable real property in Project No. XXVIII 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 or real property in the area selected for Project No. XXVIII 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 real property in the area selected for Project No. XXVIII 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.

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 No. XXVIII over the amount of such taxes generated by economic activities within such area in the calendar year prior to the passage 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 when 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.

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Approved as to form and legality:

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Assistant City Attorney