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Legislation #: 190997 Introduction Date: 12/5/2019
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving and designating Redevelopment Project A2 of the Arlington Road Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefore.

Legislation History
DateMinutesDescription
12/2/2019 Filed by the Clerk's office
12/5/2019 Referred to Neighborhood Planning and Development Committee
12/11/2019 Do Pass
12/12/2019 Assigned to Third Read Calendar
12/19/2019 Passed

View Attachments
FileTypeSizeDescription
Arlington Road TIF Plan 5th Amendment NPD 12.11.19.pptx Other 2227K Presentation
190997.pdf Authenticated 205K Authenticated
Fact Sheet.pdf Fact Sheet 96K Arlington Road TIF Plan - Project A2 Fact Sheet
Arlington Road TIF Plan - 5th Amendment.pdf Exhibit 10060K Arlington Road TIF Plan - 5th Amendment
Arlington Road TIF Plan - Project A2 Fact Sheet.xls Fact Sheet 88K Arlington Road TIF Plan - Project A2 Fact Sheet
Arlington Road TIF Plan - Redevelopment Project Ordinance A2.docx Request for Ordinance 19K Arlington Road TIF Plan - Project A2

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ORDINANCE NO. 190997

 

Approving and designating Redevelopment Project A2 of the Arlington Road Tax Increment Financing Plan as a Redevelopment Project; and adopting tax increment financing therefore.

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”), 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, Ordinance No. 100089, As Amended, passed on January 28, 2010, Ordinance No. 130986, passed on December 19, 2013 and Committee Substitute for Ordinance No. 140823, as amended, on June 18, 2015, created the Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”); and

WHEREAS, the City Council, by Committee Substitute for Ordinance No. 140916, accepted the recommendations of the Commission and approved the Arlington Road Tax Increment Financing Plan (“Plan”) and designated a Redevelopment Area; and

WHEREAS, the City Council, by Ordinance No. 150758, accepted the recommendations of the Commission and approved the First Amendment to the Plan on September 17, 2015; and

WHEREAS, the City Council, by Ordinance No. 160241, accepted the recommendations of the Commission and approved the Second Amendment to the Plan on April 17, 2016; and

WHEREAS, the City Council, by Ordinance No. 170865, accepted the recommendations of the Commission and approved the Third Amendment to the Arlington Road Tax Increment Financing Plan on November 9, 2017; and

 

WHEREAS, the City Council, by Ordinance No. 180280, accepted the recommendations of the Commission and approved the Fourth Amendment to the Arlington Road Tax Increment Financing Plan on June 21, 2018; and

 

WHEREAS, a Fifth Amendment to the Plan (“Fifth Amendment”) was proposed to the Commission and the Commission, having been duly constituted and its members appointed, after proper notice was given, met in public hearing, and after receiving the comments of all interested persons and taxing districts, closed the public hearing November 15, 2019, and adopted Resolution No. 11-5-19 recommending approval of the Fifth Amendment along with certain modifications to the projected Payments in Lieu of Taxes and Economic Activity Taxes (the “Modified Fifth Amendment”) proposed by the Commission and Resolution No. 11-6-19 recommending the approval and designation of Redevelopment Project Area A2; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That 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. That the area selected for Redevelopment Project A2 legally described as follows:

A tract of land in the Southwest Quarter of Section 2, Township 50 North, Range 32 West of the 5th Principal Meridian, in Kansas City, Clay County, Missouri, being bounded and described as follows: Commencing at the Southeast corner of the said Southwest Quarter; thence North 00 degrees 40 minutes 32 seconds East on the East line of said Southwest Quarter, 840.74 feet; thence leaving said East line, North 89 degrees 19 minutes 28 seconds West, 1,542.97 feet to the point of beginning of the tract of land to be herein described; thence North 89 degrees 14 minutes 23 seconds West, 94.46 feet; thence North 00 degrees 48 minute 10 seconds East, 304.74 feet; thence South 89 degrees 37 minutes 34 seconds East, 93.75 feet; thence South 00 degrees 40 minutes 12 seconds West, 305.38 feet to the point of beginning. Containing 28,708 square feet or 0.66 acres, more or less. All lying below the top of the Winterset Ledge of Limestone Rock and lying above elevation 700 (NAVD 88) is approved and designated by the Arlington Road Tax Increment Financing Plan as Redevelopment Project A2 (“Project A2”).

Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above described area selected for Project A2. After the total equalized assessed valuation of the taxable real property in Project A2 exceeds the certified total initial equalized assessed valuation of the taxable real property in Project A2, 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 project 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 of real property in the area selected for the Project A2 shall be allocated to and, when collected, shall be paid by the Clay 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 Project A2 over and above the initial equalized assessed value of each such unit of property in the area selected for Project A2 shall be allocated to and, when collected, shall be paid to the City Treasurer who shall deposit such payments 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 sixty (60) days of the due date shall be deemed delinquent and shall be assessed a penalty of one percent (1%) per month.

Section 4. That in addition to the payments in lieu of taxes described in subsection 2 of Section 3 above, fifty percent (50%) of the total additional revenue from taxes which are imposed by the City and certain taxing districts, and which are generated by economic activities within the area selected for Project A2 over the amount of such taxes generated by economic activities within such area in the calendar year prior to the passage of this ordinance, while tax increment financing remains in effect, but excluding certain taxes, fees and special assessments specifically identified by the Act, 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, which are necessary to the payment of Redevelopment Project Costs identified by the Redevelopment Plan, in a separate segregated account within the Special Allocation Fund for the purpose of paying Redevelopment Project Costs.

_____________________________________________

 

Approved as to form and legality:

   

 

_____________________________

Katherine Chandler

Assistant City Attorney