ORDINANCE NO. 260385
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Sponsor: City Manager’s Office
Approving Redevelopment Project E and designating the Redevelopment Project Area of Redevelopment Project E of the 435 & Soccer Drive Tax Increment Financing Plan; and adopting tax increment financing therefore.
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WHEREAS, the Clay County KC Tax Increment Financing Commission (the “Commission”) was created 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 by Ordinance No. 54556 of the City Council of Kansas City, Missouri (the “City Council”), adopted on November 24, 1982, and thereafter amended in certain respects by Committee Substitute for Ordinance No. 911076, as amended, adopted on August 29, 1991, by Ordinance No. 100089, as amended, adopted on January 28, 2010, by Ordinance No. 130986, adopted on December 19, 2013, by Committee Substitute for Ordinance No. 140823, as amended, adopted on June 18, 2015, by Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, and by Committee Substitute for Ordinance No. 240045 passed on March 21, 2024 (“Enabling Ordinances”); and
WHEREAS, the 435 & Soccer Drive Tax Increment Financing Plan (the “Redevelopment Plan”) and the eighteen (18) Redevelopment Project Areas described therein as Redevelopment Projects A - R, were proposed to the Commission; and
WHEREAS, after all proper notice was given, the Commission met in a public hearing regarding the Redevelopment Plan, the Redevelopment Area, the Redevelopment Projects and the Redevelopment Project Areas at 9:30 AM on March 11, 2026, at which time, after receiving the comments of all interested persons and taxing districts, the Commission approved Resolution No. 3-2-26 (the “Resolution”) recommending to the City Council the approval of the Redevelopment Plan, the designation of the Redevelopment Area, the approval of the Redevelopment Projects and their respective Redevelopment Project Areas, and the adoption of tax increment financing for the Redevelopment Projects and their Redevelopment Project Area; and
WHEREAS, on ____________, the City Council of Kansas City, Missouri (the “Council”) passed Ordinance No. 260363 which accepted the recommendations of the Commission and approved the 435 & Soccer Drive Tax Increment Financing Plan (the “Redevelopment Plan”) and designated the Redevelopment Area described therein to be an economic development area (the “Redevelopment Area”); 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 E as set forth in the Redevelopment Plan is designated and approved for Redevelopment Project Area E and is legally described as follows:
A Tract of land located in Sections 15 and 16. Township 51 North, Range 32 West, in the City of Kansas City, Clay County, Missouri and being more particularly described as follows: COMMENCING at the Northeast Corner of the Northeast Quarter said Section 16; thence South 00°58'18” West, along the Easterly line of said Section 16, a distance of 658.48 feet to the POINT OF BEGINNING; thence Easterly, along a curve to the right, having a Chord Bearing of South 68°10'27” East, a Chord Distance of 399.10 feet, a Radius of 1750.00 feet, an Arc Distance of 399.97 feet; thence South 61°37'35” East, a distance of 129.73 feet to the Westerly right-of-way line of Shoal Creek Parkway, as it currently exists; thence South 25°05'50” West, along said Westerly right-of-way line, a distance of 1182.59 feet; thence North 64°40'02” West, a distance of 5.23 feet to the Easterly line of said Northeast Quarter; thence continuing North 64°40'02” West, a distance of 2.91 feet; thence Westerly, along a curve to the left, having a Chord Bearing of North 81°49'59” West, a Chord Distance of 295.14 feet, a Radius of 500.00 feet, and Arc Distance of 299.60 feet; thence South 81°00'05” West, a distance of 241.07 feet; thence Westerly, along a curve to the right, having a Chord Bearing of North 77°04'20” West, a Chord Distance of 597.47 feet, a Radius of 800.00 feet, an Arc Distance of 612.30 feet; thence North 55°08'45” West, a distance of 93.60 feet; thence North 51°58'45” East, a distance of 222.24 feet; thence Northerly, along a curve to the left, having a Chord Bearing of North 25°59'22' East, a Chord distance of 1007.88 feet, a Radius of 1150.00 feet, an Arc Distance of 1043.29 feet; thence North 00°00'00” East, a distance of 110.55 feet; thence South 88°06'43” East, a distance of 193.58 feet; thence Easterly, along a curve to the right, having a Chord Bearing of South 81°25'01” East, a Chord Distance of 408.05 feet, a Radius of 1750.00 feet, an Arc Distance of 408.98 feet to the Point of Beginning and containing 1,362,670.68 Square feet or 31.28 Acres more or less.
Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above-described redevelopment project area (“Project Area”) of Redevelopment Project E. After the total equalized assessed valuation of the taxable real property in Project Area exceeds the certified total initial equalized assessed valuation of the taxable real property in Project Area, the ad valorem taxes, and payment in lieu of taxes (“PILOTS”), 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:
(a) 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 Project Area 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;
(b) PILOTs attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in the Project Area over and above the initial equalized assessed value of each such unit of property in the Project Area 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 PILOTs described in subsection 2 of Section 3 above, fifty percent (50%) of the total additional revenue from taxes, penalties, and interest which are imposed by the City and certain taxing districts, and which are generated by economic activities within the Project Area 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 such Redevelopment Project Costs.
Section 5. That in addition to the PILOTs and economic activities taxes which are imposed by the City and certain taxing districts and generated by economic activities within the Project Area under the Act, the City shall provide additional financing by pledging Additional City EATs identified in the Redevelopment Plan, which are generated by economic activities within the Project Area, which are not subject to capture, in accordance with the Act, and which would otherwise be deposited into the City’s general funds, to 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 such Redevelopment Project Costs.
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Approved as to form:
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Emalea Kohler
Associate City Attorney