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ORDINANCE NO. 030079
Accepting
the recommendations of the Tax Increment Financing Commission as to the
Performing Arts District Tax Increment Financing Plan; approving the Performing
Arts District Tax Increment Financing Plan; and designating a Redevelopment
Area.
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,
the Performing Arts Tax Increment Financing Plan (the Redevelopment Plan)
was proposed to the Commission; and
WHEREAS,
the 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 with
respect to the Redevelopment Plan, closed said public hearing on January 8,
2003, adopted its Resolution No. 1-9-03 (the Resolution) recommending to the
City Council the approval of the Plan (the "Redevelopment Plan"); and
WHEREAS,
the Redevelopment Plan is a comprehensive program intended to reduce or
eliminate blight and enhance the tax base within the Redevelopment Area through
the implementation of eight (8) separate Redevelopment Projects and the
adoption of tax increment financing for each of the areas selected for such
Redevelopment Projects; NOW, THEREFORE,
BE
IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section
1. The recommendation of the Commission concerning the Redevelopment Plan as
set forth in the Resolution attached hereto as Exhibit "A", is hereby
accepted and the Redevelopment Plan, a copy of which is attached hereto as
Exhibit "B", is hereby approved and adopted.
Section
2. 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 (the
"Act").
Section
3. The following described area is hereby designated a Redevelopment Area:
All that part of Block 7, J. H. McGEES ADDITION
to Kansas City, a subdivision in Kansas City, Jackson County, Missouri,
according to the recorded plat thereof, being more particularly described as
follows:
Commencing at the Southwest corner of said Block
7; thence North along the West line of said Block 7, being also the East
right-of-way line of Broadway, as now established, a distance of 146.67 feet to
the Point of Beginning of the parcel of land to be herein described; thence
continuing North along said West line of Block 7, a distance of 178.33 feet to
the Northwest corner of Lot 83 in said Block 7 being also a point on the South
right-of-way line of U.S. Interstate Highway Route No. 35, as now established;
thence East along the North
line
of said Lot 83 and said South right-of-way line and its Easterly prolongation,
a distance of 163.26 feet to a point on the west line of Lot 67 in said Block
7; thence North along the West line of said Lot 67, a distance of 18.00 feet to
a point on the South right-of-way line of U.S. Interstate Highway Route No. 35,
being also a point on the North line of the South 43.00 feet of said Lot 67;
thence East along said South right-of-way line and along said North line, a
distance of 168.31 feet to a point on the East line of said Block 7, being also
a point on the West right-of-way line of Central Avenue, as now established;
thence South along the East line of said Block 7 and said West right-of-way
line, a distance of 193.08 feet to a point that is 149.92 feet North of the
Southeast corner of said Block 7; thence deflecting 90 degrees 00 minutes 56
seconds to the right from the last described course, a distance of 331.38 feet
to the Point of Beginning. Containing 1.414 acres, more or less.
Section 4. In
accordance with the recommendations of the Commission as set forth in the
Resolution, the City Council hereby finds that:
(a) The Redevelopment Area as a
whole is a blighted area, based on Ordinance No. 53137, passed August 18, 1981,
in which the Council determined the area generally described as bounded by I-70
on the north, the alley next east of Broadway on the west, 17th Street on the
south and the alley next east of Wyandotte on the east, to be a blighted area
pursuant to Planned Industrial Expansion Authority Law;
(b) The Redevelopment Area 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;
(c) The Redevelopment Plan conforms 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 thereon
which will be directly and substantially benefitted 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, 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 Redevelopment Plan on each taxing district at least partially within the
boundaries of the Redevelopment Area has been prepared in accordance with the
Act; and
(h) The Redevelopment Plan does not include the
initial development or redevelopment of any gambling establishment.
Section 5. The
City and/or the Commission is authorized to issue obligations in one or more
series of bonds secured by the Performing Arts District Tax Increment Financing
Plan 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 City and/or the Commission determines, to enter into such contracts and
take all such further actions as are reasonably necessary to achieve the
objectives of the Redevelopment Plan 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
to 99.865, which recital shall be conclusive evidence of their validity and of
the regularity of their issuance.
Section 6.
Pursuant to the provisions of the Redevelopment Plan, the City Council
approves the pledge of all funds generated from Redevelopment Projects that are
deposited into the Performing Arts District 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.
_____________________________________________
Approved
as to form and legality:
___________________________________
Assistant
City Attorney