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Legislation #: 971710 Introduction Date: 12/11/1997
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Union Hill Redevelopment Project D6 of the Union Hill Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therein.

Legislation History
DateMinutesDescription
12/11/1997

Prepare to Introduce

12/11/1997

Referred Planning and Zoning Committee

12/17/1997

Hold Off Agenda

7/8/1998

Hold Off Agenda

1/20/1999

Hold Off Agenda

1/9/2002

Hold Off Agenda

1/7/2004

Hold Off Agenda

7/14/2004

Hold Off Agenda

7/14/2005 Hold Off Agenda
7/18/2007 Hold Off Agenda
1/16/2008 Release
1/22/2008 Released

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ORDINANCE NO. 971710

 

Approving and designating Union Hill Redevelopment Project D6 of the Union Hill Increment Financing Plan 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WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing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 _____________, the City Council passed Ordinance No. 971698, which approved the Union Hill Tax Increment Financing Plan ("Redevelopment Plan") and designated the Redevelopment Area as a conservation area; and

 

WHEREAS, the Redevelopment Plan and ordinance contemplate the implementation of the Redevelopment Plan through 40 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. 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 area selected for Redevelopment Project D6 legally described as follows:

 

DeGroff Place Lots 6&7, Block 3; DeGroff Place all of Lot 8 & north 12 feet of Lot 9, Block 3; DeGroff Place south 11 feet of Lot 9 & all of Lots 10-12, Block 3; DeGroff Place Lot 13 & north 18 feet Lot 14, Block 3; DeGroff Place south 7 feet of Lot 14 & all of Lot 15 & north 10 feet of Lot 16, Block 3; DeGroff Place south 13 feet of Lot 16 & north 22 feet of Lot 17, Block 3; DeGroff Place Lots 1-2-3 & west 8 feet of Lot 4, Block 3, a subdivision in Kansas City, Jackson County, Missouri.

 

is approved and designated as Union Hill Redevelopment Project D6 (the "Redevelopment Project").

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for the Redevelopment Project. After the total equalized assessed valuation of the taxable real property in the Redevelopment Project exceeds the certified total initial equalized assessed valuation of the taxable real property in the Redevelopment Project, 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 the Redevelopment Project 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 the Redevelopment Project 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. 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 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 the Redevelopment Project 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 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