KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 000383 Introduction Date: 3/30/2000
Type: Ordinance Effective Date: 11/12/2000
Sponsor: None
Title: Approving and designating Redevelopment Project Area 1 of the Hotel Phillips Tax Increment Financing Plan as a Redevelopment Project and adopting tax increment financing therein.

Legislation History
DateMinutesDescription
3/30/2000

Prepare to Introduce

3/30/2000

Referred Planning, Zoning & Economic Development Committee

4/5/2000

Hold Off Agenda

10/25/2000

Do Pass as a Committee Substitute

10/26/2000

Assigned to Third Read Calendar

11/2/2000

Passed as Substituted


View Attachments
FileTypeSizeDescription
000383.pdf Authenticated 284K Authenticated

Printer Friendly Version

 

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 000383

 

Approving and designating Redevelopment Project Area 1 of the Hotel Phillips Tax 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WHEREAS, the City Council of Kansas City, Missouri by Ordinance No. 54556, passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing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 April 6, 2000, the City Council passed Ordinance No. 000382, which approved the Hotel Phillips 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 a single Redevelopment Project and the adoption of tax increment financing in said Redevelopment Project; 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 Area 1 legally described as follows:

 

 

TRACT I:

 

All of Lots 11, 12 and 13, Block 20. ASHBURNS ADDITION, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, being more particularly described as follows: Beginning at the Southeast corner of said Lot 11, being also a point of intersection of the West right_of_way line of Baltimore Avenue with the North right_of_way line of 12th Street, as said avenue and street are now both established; thence West along the South line of said Lot 11 and along said North right_of_way line, a distance of 142 feet to the Southwest corner thereof; thence North along the West line of said Lots 11, 12 and 13, being also the East line of a 16 foot wide alley, a distance of 75 feet to the Northwest corner of said Lot 13; thence East along the North line of said Lot 13, a distance of 141.99 feet (142 feet, platted) to the Northeast corner thereof; thence South along the East line of said Lots 13, 12 and 11 and along the West right_of_way line of said Baltimore Avenue, a distance of 75 feet to the point of beginning.

 

TRACT II:

 

All of Lot 14, Block 20, ASHBURNS ADDITION, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, being more particularly described as follows: Beginning at the Southeast corner of said Lot 14, being also a point of the West right_of_way line of Baltimore Avenue, as said street is now established; thence West along the South line of said Lot 14, a distance of 141.99 feet (142 feet, platted) to the Southwest corner thereof; thence North along the West line of said Lot 14, being also the East line of


a 16 foot wide alley, a distance of 25 feet to the Northwest corner of said Lot 14; thence East along the North line of said Lot 14, a distance of 141.99 feet (142 feet, platted) to the Northeast corner thereof; thence South along the East line of said Lot 14 and along the West right_of_way line of said Baltimore Avenue, a distance of 25 feet to the point of beginning.

 

is approved and designated as Redevelopment Project Area 1.

 

Section 3. Tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Redevelopment Project Area 1. After the total equalized assessed valuation of the taxable real property in Redevelopment Project Area 1 exceeds the certified total initial equalized assessed valuation of the taxable real property in Redevelopment Project Area 1, 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 Redevelopment Project Area 1 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 Redevelopment Project Area 1 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 Redevelopment Project Area 1 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.

 

__________________________________________________________________

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney