ORDINANCE NO. 231008
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Sponsor: City Manager
Approving the Twenty-First Amendment to the 22nd & Main Tax Increment Financing Plan.
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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”), and Ordinance No. 545556 adopted on November 24, 1982, as amended by Committee Substitute for Ordinance No. 911076 adopted on August 29, 1991, by Ordinance No. 100089 adopted on January 28, 2010, by Ordinance No. 130986 adopted on December 19, 2013 and by Committee Substitute for Ordinance No. 140823 adopted on June 18, 2015 (collectively, the “Enabling Ordinances”) the City Council of Kansas City, Missouri created the Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”); and
WHEREAS, on March 19, 1998, the City Council of Kansas City, Missouri (the “Council”) passed Ordinance 980230, which accepted the recommendations of the Commission and approved the 22nd & Main Tax Increment Financing Plan (the “Redevelopment Plan”) and designated the Redevelopment Area described therein to be a blighted area (the “Redevelopment Area”); and
WHEREAS, the 22nd & Main Tax Increment Financing Plan has since been amended 20 times by Ordinance Nos. 991058, 000751, 000780, 001593, 040445, 060916, 061286, 070229, 070739, 080841, 100136, 090718, 110933, 120287, 120660, 190463, 200272, 200454, and 210086; and
WHEREAS, the Twenty-First Amendment to the Redevelopment Plan provides for the modification of the Development Schedule; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Twenty-First Amendment is hereby approved and adopted as valid.
Section 2. That all terms used in this ordinance, not otherwise defined herein, shall be construed as defined in Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the “Act”).
Section 3. That the Council hereby finds that:
(a) The findings of the Council in Ordinance Nos. 980230, 991058, 000751, 000780, 001593, 040445, 060916, 061286, 070229, 070739, 080841, 100136, 090718, 110933, 120287, 120660, 190463, 200272, 200454, and 210086 with respect to the Redevelopment Plan are not affected by the Twenty-First Amendment and apply equally to the Twenty-First Amendment;
(b) The Redevelopment Area, as amended, is a conservation area, as a whole, 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, by the Twenty-First Amendment;
(c) The Redevelopment Plan, as amended by the Twenty-First Amendment, includes a detailed description of the factors that qualify the Redevelopment Area as a conservation area and an affidavit as required by Section 99.810.1(1), RSMo;
(d) The Redevelopment Plan, as amended by the Twenty-First Amendment, conforms to the comprehensive plan for the development of the City as a whole;
(e) The areas selected for Redevelopment Projects described by the Redevelopment Plan, as amended by the Twenty-First Amendment, include only those parcels of real property and improvements therein which will be directly and substantially benefited by the Redevelopment Project improvements;
(f) 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 by the Twenty-First Amendment, and are not more than 23 years from the passage of any ordinance approving each applicable Redevelopment Project authorized by the Redevelopment Plan and located within the Redevelopment Area, as amended;
(g) A plan has been developed for relocation assistance for businesses and residences;
(h) The Twenty-First Amendment does not alter the cost benefit analysis attached to the Redevelopment Plan showing the impact of the Redevelopment Plan, as amended, on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act;
(i) The Twenty-First Amendment does not include the initial development or redevelopment of any gambling establishment; and
(j) A study has been completed and the findings of such study satisfy the requirements provided under Section 99.810.1, RSMo.
Section 4. That the Commission is authorized to issue obligations in one or more series of bonds secured by the Special Allocation Fund(s) established in connection with each Redevelopment Project described by the Redevelopment Plan to finance Redevelopment Project Costs 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 undertake 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 the Enabling Ordinances. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 through 99.865, RSMo., which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
Section 5. That pursuant to the provisions of the Redevelopment Plan, as amended, the Council approves the pledge of all payments in lieu of taxes and economic activity taxes generated within Redevelopment Projects that are deposited into the Special Allocation Fund(s) established in connection with each Redevelopment Project described by the Redevelopment Plan to the payment of Redevelopment Project Costs, and authorizes the Commission to pledge such funds on its behalf.
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Approved as to form:
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Emalea Black
Associate City Attorney