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Legislation #: 000777 Introduction Date: 6/1/2000
Type: Ordinance Effective Date: 7/30/2000
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the Second Amended Universal Floodwater Detention Tax Increment Financing Plan; approving the Second Amended Universal Floodwater Detention Tax Increment Financing Plan; designating an expanded redevelopment area and authorizing additional projects.

Legislation History
DateMinutesDescription
6/1/2000

Prepare to Introduce

6/1/2000

Referred Planning, Zoning & Economic Development Committee

6/7/2000

Hold On Agenda

6/21/2000

Hold On Agenda

7/5/2000

Do Pass

7/6/2000

Assigned to Third Read Calendar

7/13/2000

Held on Docket

7/20/2000

Passed


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ORDINANCE NO. 000777

 

Accepting the recommendations of the Tax Increment Financing Commission as to the Second Amended Universal Floodwater Detention Tax Increment Financing Plan; approving the Second Amended Universal Floodwater Detention Tax Increment Financing Plan; designating an expanded redevelopment area and authorizing additional projects.

 

WHEREAS, the City Council of Kansas City, Missouri, by Ordinance No. 54556 passed on November 24, 1982, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission") and by Ordinance No. 911076, modified the composition of the Commission in accordance with State law; and

WHEREAS, the Commission endorsed a proposed redevelopment plan entitled the "Universal Floodwater Detention Tax Increment Financing Plan" ( the "Redevelopment Plan"); and

 

WHEREAS, on February 8, 1989, the Commission adopted its resolution approving a plan entitled "Universal Flood Protection Tax Increment Financing Plan" (the "1989 Redevelopment Plan"), calling for redevelopment of an area generally bordered by Reynolds Avenue on the west, the south bank of the Missouri River levee on the north, Interstate 435 on the east and Executive Drive on the south, as described in the 1989 Redevelopment Plan and recommending to the City Council that the City Council approve the 1989 Redevelopment Plan; and

 

WHEREAS, on May 11, 1989, the City Council passed Ordinance No. 63830, wherein the City Council approved the 1989 Redevelopment Plan, designated the area described therein as a redevelopment project area and adopted tax increment financing; and

 

WHEREAS, on November 14, 1990, the Commission determined that the redevelopment projects described in the 1989 Redevelopment Plan were not feasible at that time and adopted a resolution rescinding the 1989 Redevelopment Plan and the designation of the area described therein as a redevelopment project area and recommending that the City Council rescind the 1989 Redevelopment Plan and the designation of the area described therein as a redevelopment project area and repeal Ordinance No. 63830; and

 

WHEREAS, the Commission endorsed a revised redevelopment plan entitled "Universal Floodwater Detention Tax Increment Financing Plan" ( the "1990 Redevelopment Plan"), calling for redevelopment of an area bordered by Reynolds Avenue on the west, the south bank of the Missouri River on the north, Interstate 435 on the east and Front Street on the south, (the "Redevelopment Plan Area") and consisting of several redevelopment projects located in separate redevelopment project areas ( the "Redevelopment Project Areas") known as Phase I Redevelopment Project Area, Phase II Redevelopment Project Area, and so forth; and

WHEREAS, after all proper notice was given, the Commission met in public hearing on November 14, 1990, and received the comments of all interested parties and taxing districts affected by the 1990 Redevelopment Plan; and

 


WHEREAS, after due deliberation, the Commission adopted its resolution recommending to the City Council that the 1990 Redevelopment Plan be adopted and the City Council declare its intent to adopt tax increment financing at such time as requested by the Commission to finance and reimburse the payment of redevelopment project costs and redevelopment costs incurred in connection with the Redevelopment Plan; and

 

WHEREAS, after due deliberation, the Commission adopted its resolution recommending to the City Council that Universal Land Development Co., Ltd., be selected as the private developer to redevelop and rehabilitate the Redevelopment Area in accordance with the Redevelopment Plan; and

WHEREAS, on January 10, 1991, which was 14_90 days from the date of the Commission's hearing, ordinances calling for the approval of the Redevelopment Plan and designation of all of the individual phases of the Redevelopment Plan as redevelopment project areas (the "Redevelopment Project Areas") and the adoption of tax increment financing therein were introduced in the City Council; and

 

WHEREAS, on April 18, 1991, the City Council adopted Committee Substitute for Ordinance No. 910047, as amended, which repealed Ordinance No. 63830; which accepted the recommendations of the Commission as to the 1990 Redevelopment Plan; approved the Redevelopment Plan; designated the Redevelopment Area and each proposed Redevelopment Project Area as blighted; approved Universal Land Development Co., Ltd. as the developer; approved an agreement with the Commission; authorized the execution of a development contract; and approved and designated Phase I of the Redevelopment Plan as a Project Area and adopted Tax Increment Financing therefor; and

 

WHEREAS, the Redevelopment Plan as approved by Committee Substitute for Ordinance No. 910047, as amended, contemplates the designation of each phase of the Redevelopment Plan as a separate Redevelopment Project Area at the discretion of the City Council and the adoption of Tax Increment Financing therein; and

 

WHEREAS, on September 11, 1991, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts affected by an amendment to the Redevelopment Plan, adopted its resolution recommending to the City Council the approval of an amended Redevelopment Plan (the "First Amended Redevelopment Plan") affecting the area described in Exhibit "1" of the First Amended Redevelopment Plan as attached to Committee Substitute for Ordinance No. 911507 as Exhibit "A" (the "Redevelopment Area"); and

 

WHEREAS, the First Amended Redevelopment Plan which the Commission recommended be approved contained the proposal of Universal Land Development Co., Ltd was approved on December 19, 1991, by Committee Substitute for Ordinance No. 911507; and

 

WHEREAS, the Second Amended Redevelopment Plan, providing for the addition of 2 projects, was presented to the Commission; and

 

WHEREAS, on May 17, 2000, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts affected by the second amendment to the Redevelopment Plan, adopted its resolution recommending to the City Council the approval of an amended Redevelopment Plan (the "Second Amended Redevelopment Plan") affecting the area described in the Second Amended Redevelopment Plan (the " Redevelopment Area"); NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendation of the Commission concerning the Second Amended Redevelopment Plan as set forth in the resolution attached hereto as Exhibit "A" is hereby accepted, and the Second Amended Redevelopment Plan attached hereto as Exhibit B is hereby approved and the Projects contained therein are being authorized.

 

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 City Council hereby finds that:

 

(a) The Redevelopment Area as a whole and each Redevelopment Project Area are blighted as evidenced by the flooding problems, deterioration and underutilization of buildings and other blighting influences.

 

(b) 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.

 

(c) The Redevelopment Area as a whole and each Redevelopment Project Area have 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 Second Amended Redevelopment Plan.

 

(d) The Second Amended Redevelopment Plan as a whole and each Redevelopment Project conform to the comprehensive plan for the development of the City as a whole.

 

(e) The estimated dates of completion of the Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs have been stated in the Second Amended Redevelopment Plan and are not more than 23 years from the adoption of any ordinance approving a Redevelopment Project within the Redevelopment Area.

 

(f) The Second Amended Redevelopment Plan includes a plan for relocation assistance for businesses and residences.

(g) A cost-benefit analysis showing the impact of the Second Amended Redevelopment Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act.

 

(h) The Second Amended Redevelopment Plan does not include the initial development or redevelopment of any gambling establishment.

Section 3. The Second Amended Redevelopment Plan, a copy of which is attached hereto as Exhibit "A", is hereby approved and the projects sets forth therein are hereby authorized.

 

Section 4. The Redevelopment Area legally described in the Second Amended Redevelopment Plan is hereby approved and designated a redevelopment area as provided in Section 99.820.1(l), RSMo:

 

[insert legal]

 

Section 5. The Commission is authorized to issue obligations in one or more series of bonds secured by the Universal Floodwater Detention TIF 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 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 Second Amended Redevelopment Plan, the City Council approves the pledge and authorizes the Commission to pledge all funds generated from the Redevelopment Plan, which are deposited into the Universal Floodwater Detention Account and the Universal Floodwater Detention Economic Activity Account of the Special Allocation Fund to the payment of Redevelopment Project Costs and Redevelopment Costs within the Redevelopment Area and each of the Redevelopment Project Areas.

 

_______________________________________

 

Approved as to form and legality:

 

 

 

 

_____________________________

Assistant City Attorney