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Legislation #: 970992 Introduction Date: 7/10/1997
Type: Ordinance Effective Date: 9/7/1997
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Power and Light District Tax Increment Financing Plan; as amended, approving the Power and Light District Tax Increment Financing Plan; as amended; designating a Redevelopment Area; establishing the effective date; and expressing the intent of the Council.

Legislation History
DateMinutesDescription
7/10/1997

Prepare to Introduce

7/10/1997

Referred Planning, Zoning & Economic Development Committee

7/16/1997

Hold On Agenda

8/6/1997

Hold On Agenda

8/20/1997

Do Pass as a Committee Substitute

8/21/1997

Assigned to Third Read Calendar

8/28/1997

Passed as Substituted


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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 970992

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Power and Light District Tax Increment Financing Plan; as amended, approving the Power and Light District Tax Increment Financing Plan; as amended; designating a Redevelopment Area; establishing the effective date; and expressing the intent of the Council.

 

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 Power and Light District Tax Increment Financing Plan (the "Plan") was approved by the Commission on July 31, 1996, and recommended to the City Council; and

 

WHEREAS, prior to any City Council action on Commission's recommendation, an amendment to the Plan was proposed to the Commission for consideration which, among other things, enlarged the boundaries of the Redevelopment Area; and

 

WHEREAS, said 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 as proposed to be amended, closed said public hearing on June 11, 1997 and on June 11, 1997, adopted its Resolution No. 6-1-97 (the "Resolution") recommending to the City Council the approval of the Plan, as amended (the "Redevelopment Plan"); and

 

WHEREAS, the Redevelopment Plan, as amended, is a comprehensive program intended to reduce or eliminate blight and enhance the tax base within the Redevelopment Area through the implementation of nine (9) 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, as amended, 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 of or part of Blocks 7, 8, 10, and 14, REID'S ADDITION and all of or part of Blocks 2, 5, 6, 7, 8, 9, 12, 13, 14 and 15, McGEE'S ADDITION, and all of or part of Blocks E, L, and K, 2nd RESURVEY OF REID'S ADDITION, all subdivisions, according to the recorded plats thereof, including alleys and vacated alleys and also including parts of the following streets and avenue: 12th Street, 13th Street, 14th Street, Main Street, Wyandotte Street and Baltimore Avenue, as said streets and avenue are all now established, all in Section 5, Township 49, Range 33 in Kansas City, Jackson County, Missouri, being more particularly described as follows: Beginning at the point of intersection of the South right-of-way line of 13th Street with the West right-of-way line of Baltimore Avenue, as said street and avenue are now both established; thence North along the Northerly prolongation of said West right-of-way line, a distance of 194.50 feet to a point of intersection with the Westerly prolongation the centerline of a East-West vacated alley; thence East along said Westerly prolongation and along said vacated alley centerline, a distance of 116.44 feet to a point of intersection with the centerline of a North-South vacated alley; thence South along said vacated alley centerline, a distance of 24 feet to a point of intersection with the Westerly prolongation of the North line of the South 22 feet of Lot 70, Block 5 of said McGEE'S ADDITION; thence East along said Westerly prolongation and along the North line of the South 22 feet of said Lot 70, a distance of 138.25 feet to a point on the West right-of-way of Main Street, as now established; thence South along said West right-of-way and it's Southerly prolongation a distance of 170.50 feet to the Northeast corner of Lot 73, Block 6 of said McGEE'S ADDITION, being also a point of intersection of the South right-of-way line of said 13th Street with the West right-of-way line of said Main Street; thence East along the Easterly prolongation of the North line of said Lot 73 and along the North line of Lots 82 and 91, Block 7 of said McGEE'S ADDITION and the Easterly prolongation of the North line of said Lot 91 and along the North line of Lots 100 and 109, Block 8, McGEE'S ADDITION and its Easterly prolongation of the North line of said Lot 109 and along the South right-of-way line of said 13th Street, a distance of 728 feet to the point of intersection with the East right-of-way line of Grand Avenue, as now established, being also the Northwest corner of Lot 118, Block 9 of said McGEE'S ADDITION; thence North along Northerly prolongation of the East line of said Block 9, a distance of 49.5 feet to the Northeast corner of Block 2 of said McGEE'S ADDITION, being also a point of intersection of the North right-of-way line of said 13th Street with the West right-of-way line of said Grand Avenue; thence North along the East line of said Block 7, a distance of 408.01 feet to the Northwest corner of said Block 2, being also a point of intersection of the East right-of-way of said Grand Avenue with the South right-of-way line of 12th Street, as now established; thence East along said South right-of-way line and the North line of said Block 2, a distance of 247.5 feet to the Northeast corner thereof, being also a point of intersection of the South right-of-way line of said 12th Street with the West right-of-way line of McGee Street, as now established; thence South along said West right-of-way line and along the East line of said Block 2 and its Southerly prolongation and along the East line of Blocks 9 and 12 of said McGEE'S ADDITION and along said West right-of-way line, a distance of 1151.46 feet to Southeast corner of Lot 158 of said Block 12, being also a point intersection with the North right-of-way of U.S. Interstate Highway Route No. 35 (Truman Road), as now established; thence West along said North right-of-way line, the following courses and distances; thence West, 1109.50 feet to a jog therein; thence North along said jog, a distance of 0.50 feet; thence West along said North right-of-way line, a distance of 200.19 feet to a point on the West right-of-way line of said Baltimore Avenue; thence North along said West right-of-way line and along the North right-of-way of said U.S. Interstate Highway Route No. 35, a distance of 33 feet; thence continuing West along said North right-of-way line the following courses and distances; thence West, 138.50 feet; thence North, 24 feet; thence West, 142 feet to a point on the West line of Lot 15, Block 10 of said REID'S ADDITION; thence North along the West line of said Block 10 and its Northerly prolongation and along the West line of Block K of said 2nd RESURVEY OF REID'S ADDITION and its Northerly prolongation and along the West line of Block F of said 2nd RESURVEY OF REID'S ADDITION; and its Northerly prolongation and along the West line of Block 7 of said REID'S ADDITION, a distance of 510 feet to the Southwest corner of Lot 1, CORRECTED PLAT OF HAYES HEIGHTS, a subdivision in said City, County and State, according to the recorded plat thereof; thence East along the South line of said Lot 1, a distance of 158 feet to a point on the West line of Lot 7 of Block 7 of said REID'S ADDITION; thence North along the West line of Lots 7, 6, 5, 4, 3, 2 and 1 of said Block 7, a distance of 175 feet to the Northwest corner of said Lot 1; thence East along the North of said Lot 1 and along the South right-of-way of said 13th Street a distance of 202 feet to the Point of Beginning. Containing 29.556 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, and 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, as amended;

 

(b) The Redevelopment Plan, as amended, conforms to the comprehensive plan for the development of the City as a whole;

 

(c) 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, as amended, and are not more than 23 years from

the adoption of any ordinance approving a Redevelopment Project within the

Redevelopment Area;

 

(d) A plan has been developed for relocation assistance for businesses and residences.

 

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the Power and Light 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 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, as amended, 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, as amended, the City Council approves the pledge of all funds generated from Redevelopment Projects that are deposited into the Kansas City Power and Light 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.

 

Section 7. That this ordinance shall become effective the latter of 10 days after passage or upon receipt by the City Clerk of notice from the Tax Increment Finance Commission that the Commission and the developer have entered into a Redevelopment Agreement which provides (1) that the developer shall not demolish the President Hotel prior to the passage of an ordinance by the City Council which authorizes the issuance of any public debt including NID bonds and, after the passage of said ordinance, the developer shall notify the Director of City Development 60 days in advance of the demolition of the Hotel; and (2) that the developer shall submit schematic design plans when the schematic designs are complete and design development drawings for the entire Project at the completion of 50%, 75% and 100% design development phases to the Director of City Development for design review. The Director of City Development will report to the Council the results of her design review for each phase for the Council's review in conjunction with the public financing of the Project.

 

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Approved as to form and legality:

 

 

 

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Assistant City Attorney