ORDINANCE NO. 260925
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Sponsor: Mayor Quinton Lucas
Approving and designating the Redevelopment Project Area of the 47th and Broadway Tax Increment Financing Plan; and adopting tax increment financing therefore.
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WHEREAS, the Tax Increment Financing Commission of Kansas City, Missouri (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 47th and Broadway Tax Increment Financing Plan (the “Redevelopment Plan”) and a single Redevelopment Project Area described therein was proposed to the Commission; and
WHEREAS, after all proper notice was given, the Commission met in a public hearing regarding the Redevelopment Plan and the Redevelopment Projects at 10:00 AM on July 22, 2026, at which time, after receiving the comments of all interested persons and taxing districts, the Commission approved Resolution No. 7-11-26 (the “Resolution”) recommending to the City Council the approval of the Redevelopment Plan and designation of the Redevelopment Area which contained the Redevelopment Project Area; and
WHEREAS, on ____________, the City Council of Kansas City, Missouri (the “Council”) passed Ordinance No. __________ which accepted the recommendations of the Commission and approved the 47th and Broadway Tax Increment Financing Plan and designated the Redevelopment Area described therein to be a blighted 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 of the Redevelopment Plan selected for the Redevelopment Project Area (the “Project Area”) is legally described as follows:
TRACT 1: (Balcony - Block 2)
PARCEL A:
All that part of Lot 1, WORNALL PARK RESURVEY, a subdivision in Kansas City, Jackson County, Missouri, recorded July 17, 1986, as Document No. K-724383, in Plat Book 36 at Page 88 and described as follows: Beginning at the Southwest corner of said Lot 1; thence North 2 degrees 25 minutes 26 seconds East (this and all other bearings being in relation to the West line of Section 29, Township 49, Range 33 being North 2 degrees 25 minutes 26 seconds East) along the West line of said Lot 1, a distance of 58.25 feet; thence South 87 degrees 34 minutes 30 seconds East, 157.21 feet; thence North 72 degrees 24 minutes 02 seconds East, 55.57 feet, thence North 18 degrees 14 minutes 32 seconds West, 14.34 feet; thence North 71 degrees 37 minutes 48 seconds East, 21.77 feet; thence North 19 degrees 06 minutes 40 seconds West, 54.43 feet; thence North 71 degrees 47 minutes 02 seconds East, 56.18 feet; thence North 19 degrees 32 minutes 33 seconds West, 0.45 feet; thence North 70 degrees 28 minutes 06 seconds East, 9.44 feet; thence South 19 degrees 29 minutes 54 seconds East 0.48 feet; thence North 63 degrees 06 minutes 04 seconds East, 43.71 feet; thence North 41 degrees 12 minutes 03 seconds East, 26.55 feet; thence North 43 degrees 10 minutes 01 seconds East, 25.65 feet; thence North 32 degrees 10 minutes 05 seconds East, 17.63 feet to a point on the Northwest prolongation of the Southwesterly line of Lot 67, WORNALL PARK, a subdivision in said City, County, and State, according to the recorded plat thereof, recorded July 22, 1909, as Document No. 715298, in Plat Book 15 at Page 84, being also a point on the Northerly line of said Lot 1; thence South 60 degrees 12 minutes 23 seconds East along said Northerly line, a distance of 127.66 feet to the most Easterly corner of said Lot 1; thence generally Southwesterly along the Southeasterly line of said Lot 1, the following courses and distances; thence Southwesterly along a curve to the right having a radius of 303.37 feet, a central angle of 38 degrees 55 minutes 54 seconds and an initial tangent bearing of South 29 degrees 47 minutes 37 seconds West, an arc distance of 206.14 feet; thence South 19 degrees 05 minutes 08 seconds East along a jog in said line 3.34 feet; thence Southwesterly along a curve to the left, having a radius of 60.5 feet; a central angle of 46 degrees 04 minutes 13 seconds and an initial tangent bearing of South 56 degrees 23 minutes 26 seconds West an arc distance of 48.65 feet; thence South 10 degrees 19 minutes 13 seconds West, tangent to the last described curve, a distance of 9.42 feet to a point on the South line of said Lot 1; thence North 87 degrees 24 minutes 16 seconds West along said South line, a distance of 287.78 feet to the Point of Beginning.
PARCEL B:
A non-exclusive easement for ingress and egress as established in Document Number K-714870 in Book K-1539, Page 2231, over that part of the following described land lying within Lots 66 and 67 WORNALL PARK and the Easterly half of that part of the vacated alley lying West of, and adjacent to, said Lots 66 and 67: All of that part of Lots 65, 66 and 67, together with a portion of the vacated alley lying between Lot 65 and Lots 66 and 67, all in WORNALL PARK, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded July 22, 1909, as Document No. 715298, in Plat Book 15 at Page 84, more particularly described as follows: Commencing at the Northeast corner of Lot 65; thence North 87 degrees 38 minutes 59 seconds West along the North line of Lot 65, said line being the South line of 46th Street Terrace as such street is now established, a distance of 20.00 feet to the Point of Beginning of a tract of land to be described; thence South 2 degrees 21 minutes 01 seconds West, perpendicular to the last course, a distance of 32.00 feet; thence South 87 degrees 38 minutes 59 seconds East, parallel to the South line of 46th Street Terrace, a distance of 28.00 feet; thence North 2 degrees 21 minutes 01 seconds East, perpendicular to the last course, a distance of 32.00 feet to a point on the South line of 46th Street Terrace; thence North 87 degrees 38 minutes 59 seconds West, along said South line a distance of 28.00 feet to the Point of Beginning.
TRACT 2: (Balcony Garage formerly Neptune Garage)
PARCEL A:
Lot 1, WORNALL PARK RESURVEY, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded July 17, 1986, as Document No. K-724383, in Plat Book K-36 at Page 88, EXCEPT that part described as follows:
Beginning at the Southwest corner of said Lot 1; thence North 2 degrees 25 minutes 26 seconds East (this and all other bearings being in relation to the West line of Section 29, Township 49, Range 33 being North 2 degrees 25 minutes 26 seconds East) along the West line of said Lot 1, a distance of 58.25 feet; thence South 87 degrees 34 minutes 30 seconds East, 157.21 feet; thence North 72 degrees 24 minutes 02 seconds East, 55.57 feet; thence North 18 degrees 14 minutes 32 seconds West, 14.34 feet; thence North 71 degrees 37 minutes 48 seconds East, 21.77 feet; thence North 19 degrees 06 minutes 40 seconds West, 54.43 feet; thence North 71 degrees 47 minutes 02 seconds East, 56.18 feet; thence North 19 degrees 32 minutes 33 seconds West, 0.45 feet; thence North 70 degrees 28 minutes 06 seconds East, 9.44 feet; thence South 19 degrees 29 minutes 54 seconds East, 0.48 feet; thence North 63 degrees 06 minutes 04 seconds East, 43.71 feet; thence North 41 degrees 12 minutes 03 seconds East, 26.55 feet; thence North 43 degrees 10 minutes 01 seconds East, 25.65 feet: thence North 32 degrees 10 minutes 05 seconds East, 17.63 feet, to a point on the Northwest prolongation of the Southwesterly line of Lot 67, WORNALL PARK, a subdivision in said city, county and state, according to the recorded plat thereof, being also a point on the Northerly line of said Lot 1; thence South 60 degrees 12 minutes 23 seconds East along said Northerly line, a distance of 127.66 feet to the most Easterly corner of said Lot 1; thence generally Southwesterly along the Southeasterly line of said Lot 1, the following course(s) and distances: thence Southwesterly along a curve to the right having a radius of 303.37 feet, a central angle of 38 degrees 55 minutes 54 seconds and an initial tangent bearing of South 29 degrees 47 minutes 37 seconds West, an arc distance of 206.14 feet; thence South 19 degrees 05 minutes 08 seconds East along a jog in said line 3.34 feet, thence Southwesterly along a curve to the left, having a radius of 60.5 feet, a central angle of 46 degrees 04 minutes 13 seconds and an initial tangent bearing of South 56 degrees 23 minutes 26 seconds West an arc distance of 48.65 feet; thence South 10 degrees 19 minutes 13 seconds West, tangent to the last described curve, a distance of 9.42 feet to a point on the South line of said Lot 1: thence North 87 degrees 24 minutes 16 seconds West along said South line, a distance of 287.78 feet to the Point of Beginning.
ALSO EXCEPTING therefrom the following described tract:
THE NEPTUNE CONDOMINIUMS, a condominium subdivision in the City of Kansas City, Jackson County, Missouri, according to the recorded plat thereof filed December 27, 1991, as Document No. K-1003222, in Plat Book 38, Page 55. PARCEL B: A non-exclusive easement for ingress and egress as established in Document Number K-714870 in Book K-1539, Page 2231, over that part of the following described land lying within Lots 66 and 67 WORNALL PARK and the Easterly half of that part of the vacated alley lying West of, and adjacent to, said Lots 66 and 67:
All of that part of Lots 65, 66 and 67, together with a portion of the vacated alley lying between Lot 65 and Lots 66 and 67, all in WORNALL PARK, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded July 22, 1909, as Document No. 715298, in Plat Book 15 at Page 84, more particularly described as follows: Commencing at the Northeast corner of Lot 65; thence North 87 degrees 38 minutes 59 seconds West along the North line of Lot 65, said line being the South line of 46th Street Terrace as such street is now established, a distance of 20.00 feet to the Point of Beginning of a tract of land to be described; thence South 2 degrees 21 minutes 01 seconds West, perpendicular to the last course, a distance of 32.00 feet; thence South 87 degrees 38 minutes 59 seconds East, parallel to the South line of 46th Street Terrace, a distance of 28.00 feet; thence North 2 degrees 21 minutes 01 seconds East, perpendicular to the last course, a distance of 32.00 feet to a point on the South line of 46th Street Terrace; thence North 87 degrees 38 minutes 59 seconds West, along said South line a distance of 28.00 feet to the Point of Beginning.
PARCEL C:
Easements for purposes set out and established in "Declaration of Easements", dated December 9, 1991, filed December 9, 1991, as Document No. K-1000643, and the First Amendment to Declaration of Easements recorded December 21, 2011, as Document No. 2011E0119313, over a tract of land described as follows:
THE NEPTUNE CONDOMINIUMS, a condominium subdivision in the City of Kansas City, Jackson County, Missouri, according to the recorded plat thereof, filed December 27, 1991, as Document No. K-1003222, in Plat Book 38, Page 55.
TRACT 3: (Court of Penguins - Block 15)
All or parts of Lots 3 thru 8 and 11 thru 14, PENN PARK, a subdivision of land recorded September 5, 1905 as Document No. 539873, in Plat Book 13 at Page 42; all of Lot 10, PHILLIPS PLAZA, a subdivision of land, recorded March 26, 1929, as Document No. 407685, in Plat Book 23 at Page 95; part of the Northeast Quarter of the Southeast Quarter of Section 30, Township 49, Range 33, Kansas City, Jackson County, Missouri; and part of the vacated streets and alleys adjoining; being all that part of said quarter quarter bounded on the North by the South right-of-way line of Nichols Road, as now established on the East by the West right-of-way line of Pennsylvania Avenue, as now established; on the South by the North right-of-way line of 48th Street, as now established; and on the West by the East right-of-way line of Jefferson Street, as now established.
TRACT 4: (Esplanade/Saks - Blocks 12 & 3)
PARCEL A:
All that part of the Southeast 1/4 of Section 30, Township 49, Range 33, in Kansas City, Jackson County, Missouri, lying West of Broadway Street, East of Pennsylvania Avenue, South of 47th Street and North of Nichols Road, EXCEPT that part thereof described as follows:
Beginning at the intersection of the West line of Broadway with the South line of 47th Street, as said streets are now established; thence South along said West line, 296.36 feet (296 feet, deed) to its intersection with the North line of Nichols Road, as now established; thence West along said North line, 462.21 feet (462 feet, deed) to its intersection with the West line of the East 6 feet of Pennsylvania Avenue, vacated by Ordinance No. 21101, passed January 14, 1957; thence North along said West line, 140.27 feet; thence East, deflecting 89 degrees 53 minutes 16 seconds to the right from the last described course, a distance of 207.88 feet; thence North, deflecting 89 degrees 54 minutes 30 seconds to the left from the last described course, 9.25 feet; thence East at right angles from the last described course, 90.16 feet; thence North at right angles from the last described course 1.90 feet; thence East at right angles from the last described course, 78.26 feet to a point on a line drawn 85.97 feet West of and parallel with said West line of Broadway; thence North along said parallel line, 144.55 feet to a point on the South line of said 47th Street; thence East along said South line, 85.97 feet to the Point of Beginning of said exception.
PARCEL B:
All that part of the Northeast Quarter of the Southeast Quarter of Section 30, Township 49, Range 33, in Kansas City, Jackson County, Missouri, more particularly described as follows:
Beginning at the intersection of the West line of Broadway with the South line of 47th Street as said streets are now established; thence South along said West line, 296.36 feet (296 feet, deed) to its intersection with the North line of Nichols Road, as now established; thence West along said North line, 462.21 feet (462 feet, deed) to its intersection with the West line of the East 6 feet of Pennsylvania Avenue, vacated by Ordinance No. 21101, passed January 14, 1957; thence North along said West line, 140.27 feet; thence East, deflecting 89 degrees 53 minutes 16 seconds to the right from the last described course, a distance of 207.88 feet; thence North, deflecting 89 degrees 54 minutes 30 seconds to the left from the last described course, 9.25 feet; thence East at right angles from the last described course, 90.16 feet; thence North at right angles from the last described course, 1.90 feet; thence East at right angles from the last described course, 78.26 feet to a point on a line drawn 85.97 feet normally distant West of and parallel with said West line of Broadway; thence North along said parallel line 144.55 feet to a point on the South line of said 47th Street; thence East along said South line, 85.97 feet to the point of beginning.
TRACT 5: (Macy's Block formerly Barnes & Noble - Block 18)
Lot 114, LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926, as Document No. 272274, in Plat Book 23 at Page 10.
TRACT 6: (Maintenance Shop)
The East 175 feet of the South 300 feet of Lot 2, MACKEY'S SUBDIVISION, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded December 12, 1912, as Document No. 902282, in Plat Book 17 at Page 95.
TRACT 7: (Millcreek - Block 1)
Lots 65, 66, 69, 70, 71, 72 and 73, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, filed August 21, 1923, as Document No. 134590, in Plat Book 21 at Page 54, together with the vacated North 9.25 feet of Public Court lying South of and adjoining Lots 66 and 73.
TRACT 8: (Nichols - Block 10)
All or parts of Lot 28 and 45 thru 56, COUNTRY CLUB PLAZA, a subdivision of land recorded October 23, 1911, as Document No. 838840, in Plat Book 17 at Page 42 and recorded May 4, 1912, as Document No. 867946, in Plat Book 17 at Page 77, and parts of vacated streets adjoining, being all that part of the Northwest Quarter of the Southwest Quarter of Section 29, Township 49, Range 33, Kansas City, Jackson County, Missouri, bounded by the South right-of-way line of Nichols Road, as now established, on the North by the West right-of-way line of Central Street, as now established, on the East; by the North right-of-way line of Ward Parkway, as now established, on the South; and by the East right-of-way line of Wornall Road as now established, on the West.
TRACT 9: (Plaza 211 formerly Halls - Block 9)
Lot 79, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded October 22, 1928, as Document No. 395117, in Plat Book 23 at Page 85.
TRACT 10: (Plaza Central Shops - Block 11)
All or parts of Lots 38 thru 44 and 57 thru 64, COUNTRY CLUB PLAZA, a subdivision of land recorded September 26, 1911 as Document No. 838840, in Plat Book 17 at Page 42 and recorded May 4, 1912, as Document No. 867946, in Plat Book 17 at Page 77, and parts of vacated streets adjoining, being all that part of the Northwest Quarter of the Southwest Quarter of Section 29, Township 49, Range 33, Kansas City, Jackson County, Missouri, bounded by the West right-of-way line of Central Street, as now established, on the East by the North right-of-way line of Nichols Road, as now established, on the South; by the East right-of-way line of Wornall Road, as now established, on the West; and by the South right-of-way line of 47th Street, as now established, on the North.
TRACT 11: (Plaza Savings - Block 16)
Lot 11, together with that portion of vacated Pennsylvania Avenue lying Easterly thereof and adjoining, PHILLIPS PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded March 26, 1929, as Document No. 407685, in Plat Book 23 at Page 95.
TRACT 12: (Seville Square - Blocks 13 & 14)
PARCEL A:
All that part of the Northeast Quarter of the Southeast Quarter of Section 30, Township 49, Range 33, including part of Lots 1 and 16, PENN PARK, a subdivision recorded September 5, 1905, as Document No. 539873, in Plat Book 13 at Page 42; including part of the vacated alley lying between said Lots 1 and 16 and including part of vacated Pennsylvania Avenue, all in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, and all being more particularly described as follows; Commencing at the intersection of the South right-of-way line of 47th Street (as established by Ordinance No, 47976, approved August 8, 1924) with the West right-of-way line of Pennsylvania Avenue as established by deed recorded under Document No. A-449481 in Book B-2979 at Page 410 and accepted by Kansas City by Ordinance recorded under Document No. A-449482 in Book B-2979 at Page 411; run thence South along the West right-of-way of said Pennsylvania Avenue 150 feet, run thence West at right angles to said West right-of-way line, 14 feet, more or less, to the existing West right-of-way line of said Pennsylvania Avenue, as widened by deed recorded under Document No. A-644303, in Book B-3413 at Page 361 and accepted by Kansas City by Ordinance recorded under Document No. A-638263 in Book B-3406 at Page 386 being the true Point of Beginning of the tract herein described; thence continuing West and along the South line of a tract conveyed to Skelly Oil Company by Document No. A-708238 recorded in Book B-3549 at Page 313, a distance of 248.36 feet, more or less, to the East right-of-way line of Jefferson Street, as now established; thence South along said East right-of-way line, 146.39 feet to the North right-of-way line of Nichols Road (formerly Alameda Road) as widened by deed recorded under Document No. A-644303, in Book B-3413 at Page 361 and accepted by Kansas City ordinance recorded as Document No, A-638263 in Book B-3406 at Page 386; thence East along said North right-of-way line, 247.80 feet to the existing West right-of-way line of said Pennsylvania Avenue; thence North along said existing West right-of-way line 146.02 feet to the Point of Beginning.
PARCEL B: (as an appurtenant easement to Parcel A)
A non-exclusive easement for ingress and egress as established as an appurtenant easement to Parcel A by Document No. A-708238 in Book B-3549 at Page 313, over the South 8 feet of the following described tract of Land: All that part of the Northeast Quarter (1/4) of the Southeast Quarter (1/4) of Section Thirty (30), Township Forty-Nine (49), Range Thirty-three (33), in Kansas City, Jackson County, Missouri, described as follows:
Beginning at the point of intersection of the West line of Pennsylvania Avenue with the South line of 47th Street, as said Avenue and said Street were established in Kansas City, Missouri, on December 17, 1937; running thence South along the West line of said Pennsylvania Avenue a distance of one hundred fifty (150) feet to a point; running thence West at right angles to the last described course to the point intersection with the East line of Jefferson Street, as said Jefferson Street is now established in Kansas City, Missouri, running thence North along the East line of said Jefferson Street to the point of intersection with the South line of said 47th Street; running thence East along the South line of said 47th Street to the Point of Beginning.
PARCEL C:
All that part of the Northeast Quarter of the Southeast Quarter of Section 30, Township 49, Range 33, including part of Lots 13, 14, 15, 16 and 20 and all of Lots 21 through 28, both inclusive, PENN PARK, a subdivision recorded September 5, 1905, as Document No. 539873, in Plat Book 13 at Page 42 and including part of vacated Jefferson Street all in Kansas City, Jackson County, Missouri, according to the recorded plat thereof and all being more particularly described as follows: Beginning at a point in the West line of said Lot 20, being a point in the East line of an alley in said PENN PARK and 120 feet South of the South line of 47th Street as now established; thence Easterly and parallel with the South line of 47th Street, 221.64 feet to a point in the West line of Jefferson Street, as now established; thence South along the West line of Jefferson Street 336.69 feet to a point in the Easterly prolongation of the North line of Lot 29, PENN PARK; thence West along the North line of said Lot 29 and its Easterly prolongation, 167.53 feet to the Northwest corner of said Lot 29, said point being in the East line of the aforesaid alley; thence North along the East line of said alley, 320.71 feet to the Point of Beginning, together with the East half of the vacated alley West of and adjacent to Lots 21 through 28, both inclusive, PENN PARK; and all of Lots 35 through 44, both inclusive, and Lot 45, EXCEPT that part of said Lot 45 now in 47th Street, in PENN PARK, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, together with the West half of the vacated alley lying East of and adjacent to Lots 35 through 42, both inclusive, PENN PARK.
Together with that portion of vacated Jefferson Street adjoining said Parcel C, vacated pursuant to Ordinance No. 190127, recorded March 5, 2019 as Document No. 2019E0015334, amended by instrument recorded April 26, 2019 as Document No. 2019E0030289.
TRACT 13: (Swanson - Block 5)
PARCEL A:
Lots 1, 2 and 3, and all those parts of Lots 4, 5, 6, 7 and 8, Block 3, and Lot or Block B, ELMDALE, a subdivision of land in Kansas City, Jackson County, Missouri, recorded June 9, 1903, as Document No. 450349, in Plat Book 12 at Page 15, described as follows: Beginning at the point of intersection of the Northerly line of Ward Parkway, as established by Ordinance No. 7160 approved January 24, 1911, with the Easterly line of Wyandotte Street, as dedicated by the Plat of Lots 78 and 79 of COUNTRY CLUB PLAZA, a subdivision of land, in Plat Book B-23, at Page 85, Document No. A-395117, run Northwesterly along said Easterly line of Wyandotte Street 60 feet, thence Northeasterly at right angles to said Easterly line of Wyandotte Street 65 feet; thence Northwesterly parallel with said Easterly line of Wyandotte Street 88 feet; thence Southwesterly at right angles to said Easterly line of Wyandotte Street 65 feet to a point, in said street line; thence Northwesterly along said Easterly line of Wyandotte Street 77.66 feet to a point therein that is 225.66 feet from the Point of Beginning as measured along said Easterly street line; continuing thence Northwesterly along the prolongation of the last described course and the Easterly line of Wyandotte Street as granted and established by the instrument dated December 20, 1954, in Book B-4979 at Page 201, Document No. B-155497, a distance of 113.79 feet; thence continuing Northwesterly, North and Northeasterly along a curve to the right having a radius of 20 feet with the last described course as a tangent, a distance of 36.67 feet to a point in the South line of 47th Street and 40 feet South of the North line of the Southwest Quarter of Section 29, Township 49, Range 33; thence Easterly, Southerly along the North lines of Lot or Block B and of Lot 1, Block 3, ELMDALE, and the East lines of Lots 1, 2, 3, 4 and 5, Block 3, ELMDALE, to the point of intersection of the East line of said Lot 5 with the Northerly line of said Ward Parkway, as established by Ordinance No. 7160, at a point 280.27 feet South of the North line of the Southwest Quarter of Section 29, Township 49, Range 33; thence Southwesterly with said Parkway line along a curve to the right, having a radius of 100 feet with the last described course as a tangent and a central angle of 75 degrees 05 minutes 30 seconds, a distance of 131.06 feet; and thence Southwesterly along said Parkway line, tangent to the last described curve, to the Point of Beginning, together with that part of vacated 47th Street lying North and East and adjoining Lot 1 of the land.
PARCEL B:
All that part of the Northwest 1/4 of the Southwest 1/4 of Section 29, Township 49, Range 33, in Kansas City, Jackson County, Missouri, described as follows: Beginning in the Easterly line of Wyandotte Street, 60 feet Northerly from its intersection with the Northerly line of Ward Parkway as said Wyandotte Street and Ward Parkway are now established; thence Easterly at right angles with the Easterly line of said Wyandotte Street, 65 feet; thence Northerly parallel with said Wyandotte Street 88 feet; thence Westerly at right angles with the Easterly line of said Wyandotte Street, 65 feet to a point in the Easterly line of said Wyandotte Street; thence Southerly along the Easterly line of said Wyandotte Street 88 feet to beginning; being part of Lots 4, 5 and 6, Block 3, and a part of Lot or Block "B", ELMDALE, a subdivision in Kansas City, Jackson County, Missouri, recorded June 9, 1903, as Document No. 450349, in Plat Book 12 at Page 15.
TRACT 14: (Theater - Block 4)
Lot 78, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, filed October 22, 1928, as Document No. 395117 in Plat Book 23, at Page 85.
TRACT 15: (Time - Block 16)
All that part of the Southeast 1/4 of Section 30, Township 49, Range 33, in Kansas City, Jackson County, Missouri, that lies West of Broadway Street, now known as Wornall Road, East of Pennsylvania Avenue, South of Nichols Road and North of Ward Parkway.
TRACT 16: (Triangle - Block 7)
Lots 74, 75, 76 and 77, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded August 21, 1923, as Document No. 134590, in Plat Book 21 at Page 54.
TRACT 17: (Valencia - Block 19) (REVISED 3/29/2024)
LOT 1A:
All that part of Lots 93 through 99 and Lots 102 through 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926, as Document No. 272274, in Plat Book 23 at Page 10, and that part of 46th Street Terrace right of way vacated by Ordinance Number 971461, approved October 16, 1997, lying below an elevation of 158.00 feet, Kansas City, Missouri Datum, described as follows: Beginning at the Southeast corner of Lot 113 of said LA SOLANA, being also a point on the North right-of-way line of 47th Street, as now established; thence North 87 degrees 29 minutes 14 seconds West along the South line of Lots 113 through 109, inclusive, of said LA SOLANA, and along said North right-of-way line, a distance of 338.59 feet, more or less, to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as established by Ordinance Number 7286 recorded June 1, 1942; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 339.89 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South right-of-way line, a distance of 10.00 feet to the Southwest corner of said Lot 93; thence North 2 degrees 22 minutes 00 seconds East along the West line of said Lot 93 and along the East right-of-way line of said Pennsylvania Avenue, a distance of 10.15 feet; thence South 87 degrees 29 minutes 10 seconds East, a distance of 348.18 feet to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof, recorded September 25, 1989 as Document No. K-896030, in Book K-37 at Page 95; thence South 2 degrees 19 minutes 52 seconds West, along said West line and its Northerly prolongation, a distance of 187.63 feet to the Southwest corner of said TOWNSEND PLACE CONDOMINIUM; thence South 2 degrees 15 minutes 56 seconds West along the East line of Lot 113 of said LA SOLANA, a distance of 162.21 feet, more or less, to the Southeast corner of said Lot 113 and the point of beginning.
AND:
All that part of Lots 93 through 99, Lots 102 through 106, and Lots 109 through 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926 as Document No. 272274, in Plat Book 23 at Page 10, and that part of 46th Street Terrace right of way vacated by Ordinance Number 971461, approved October 16, 1997, lying above an elevation of 158.00 feet, Kansas City, Missouri Datum, and below an elevation of 177.16 feet, Kansas City, Missouri Datum, described as follows: Beginning at the Southeast corner of Lot 113 of said LA SOLANA, being also a point on the North right-of-way line of 47th Street, as now established; thence North 87 degrees 29 minutes 14 seconds West along the South line of Lots 113 through 109, inclusive, of said LA SOLANA, and along said North right-of-way line, a distance of 338.59 feet, more or less, to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as established by Ordinance Number 7286 recorded June 1, 1942; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 61.52 feet; thence South 87 degrees 34 minutes 08 seconds East, a distance of 82.03 feet; thence North 2 degrees 28 minutes 46 seconds East, a distance of 32.79 feet; thence South 87 degrees 32 minutes 38 seconds East, a distance of 45.08 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 69.71 feet; thence South 87 degrees 34 minutes 22 seconds East, a distance of 26.35 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 24.86 feet; thence North 87 degrees 22 minutes 20 seconds West, a distance of 82.69 feet to a point on said East right-of-way line of Pennsylvania Avenue; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 42.83 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South lot line, a distance of 10.00 feet to the Southwest corner of said Lot 93; thence North 2 degrees 22 minutes 00 seconds East along the West line of said Lot 93 and along the East right-of-way line of said Pennsylvania Avenue, a distance of 10.15 feet; thence South 87 degrees 29 minutes 10 seconds East, a distance of 348.18 feet, to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof, recorded September 25, 1989 as Document No. K-896030, in Book K-37 at Page 95; thence South 2 degrees 19 minutes 52 seconds West, along said West line and its Northerly prolongation, a distance of 187.63 feet to the Southwest corner of said TOWNSEND PLACE CONDOMINIUM; thence South 2 degrees 15 minutes 56 seconds West along the East line of Lot 113 of said LA SOLANA, a distance of 162.21 feet, more or less, to the Southeast corner of said Lot 113 and the point of beginning.
AND
All that part of Lots 93 through 99, Lots 102 through 106, and Lots 109 through 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926, as Document No. 272274, in Plat Book 23 at Page 10, and that part of 46th Street Terrace right of way vacated by Ordinance Number 971461, approved October 16, 1997, lying above an elevation of 179.50 feet, Kansas City, Missouri Datum, and below an elevation of 335.00 feet, Kansas City, Missouri Datum, described as follows: Beginning at the Southeast corner of Lot 113 of said LA SOLANA, being also a point on the North right-of-way line of 47th Street, as now established; thence North 87 degrees 29 minutes 14 seconds West along the South line of Lots 113 through 109, and along said North right-of-way line, a distance of 338.59 feet, more or less, to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as established by Ordinance Number 7286 recorded June 1, 1942; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 53.67 feet; thence South 87 degrees 26 minutes 10 seconds East, a distance of 82.01 feet; thence North 2 degrees 28 minutes 46 seconds East, a distance of 40.83 feet; thence South 87 degrees 32 minutes 38 seconds East, a distance of 45.08 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 177.59 feet; thence North 87 degrees 31 minutes 24 seconds West, a distance of 44.91 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 24.86 feet; thence North 87 degrees 22 minutes 20 seconds West, a distance of 82.69 feet to a point on said East right-of-way of Pennsylvania Avenue; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 42.83 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South lot line, a distance of 10.00 South 87 degrees 34 minutes 22 seconds East, a distance of 26.35 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 38.08 feet; thence North 87 degrees 34 minutes 22 seconds West, a distance of 26.35 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 69.80 feet; thence North 87 degrees 31 minutes 24 seconds West, a distance of 44.91 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 24.86 feet; thence North 87 degrees 22 minutes 20 seconds West, a distance of 82.69 feet to a point on said East right-of-way line of Pennsylvania Avenue; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 42.83 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South lot line, a distance of 10.00 feet to the Southwest corner of said Lot 93; thence North 2 degrees 22 minutes 00 seconds East along the West line of said Lot 93 and along the East right-of-way line of said Pennsylvania Avenue, a distance of 10.15 feet; thence South 87 degrees 29 minutes 10 seconds East, a distance of 348.18 feet, to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof, recorded September 25, 1989 as Document No. K-896030, in Book K-37 at Page 95; thence South 2 degrees 19 minutes 52 seconds West, along said West line and its Northerly prolongation, a distance of 187.63 feet to the Southwest corner of said TOWNSEND PLACE CONDOMINIUM; thence South 2 degrees 15 minutes 56 seconds West along the East line of Lot 113 of said LA SOLANA, a distance of 162.21 feet, more or less, to the Southeast corner of said Lot 113 and the point of beginning.
AND
All that part of Lots 93 through 99, Lots 102 through 106, and Lots 109 through 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926 as Document No. 272274, in Plat Book 23 at Page 10, and that part of 46th Street Terrace right of way vacated by Ordinance Number 971461, approved October 16, 1997, lying above an elevation of 177.16 feet, Kansas City, Missouri Datum, and below an elevation of 179.50 feet, Kansas City, Missouri Datum, described as follows: Beginning at the Southeast corner of Lot 113 of said LA SOLANA, being also a point on the North right-of-way line of 47th Street, as now established; thence North 87 degrees 29 minutes 14 seconds West along the South line of Lots 113 through 109, and along said North right-of-way line, a distance of 338.59 feet, more or less, to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as established by Ordinance Number 7286 recorded June 1, 1942; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 53.67 feet; thence South 87 degrees 26 minutes 10 seconds East, a distance of 82.01 feet; thence North 2 degrees 28 minutes 46 seconds East, a distance of 40.83 feet; thence South 87 degrees 32 minutes 38 seconds East, a distance of 45.08 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 69.71 feet; thence South 87 degrees 34 minutes 22 seconds East, a distance of 26.35 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 38.08 feet; thence North 87 degrees 34 minutes 22 seconds West, a distance of 26.35 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 69.80 feet; thence North 87 degrees 31 minutes 24 seconds West, a distance of 44.91 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 24.86 feet; thence North 87 degrees 22 minutes 20 seconds West, a distance of 82.69 feet to a point on said East right-of-way line of Pennsylvania Avenue; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 42.83 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South lot line, a distance of 10.00 feet to the Southwest corner of said Lot 93; thence North 2 degrees 22 minutes 00 seconds East along the West line of said Lot 93 and along the East right-of-way line of said Pennsylvania Avenue, a distance of 10.15 feet; thence South 87 degrees 29 minutes 10 seconds East, a distance of 348.18 feet, to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof, recorded September 25, 1989 as Document No. K-896030, in Book K-37 at Page 95; thence South 2 degrees 19 minutes 52 seconds West, along said West line and its Northerly prolongation, a distance of 187.63 feet to the Southwest corner of said TOWNSEND PLACE CONDOMINIUM; thence South 2 degrees 15 minutes 56 seconds West along the East line of Lot 113 of said LA SOLANA, a distance of 162.21 feet, more or less, to the Southeast corner of said Lot 113 and the point of beginning.
AND
All that part of Lots 93 through 99, Lots 102 through 106, and Lots 109 through 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926 as Document No. 272274, in Plat Book 23 at Page 10, and that part of 46th Street Terrace right of way vacated by Ordinance Number 971461, approved October 16, 1997, lying above an elevation of 179.50 feet, Kansas City, Missouri Datum, and below an elevation of 335.00 feet, Kansas City, Missouri Datum, described as follows: Beginning at the Southeast corner of Lot 113 of said LA SOLANA, being also a point on the North right-of-way line of 47th Street, as now established; thence North 87 degrees 29 minutes 14 seconds West along the South line of Lots 113 through 109, and along said North right-of-way line, a distance of 338.59 feet, more or less, to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as established by Ordinance Number 7286 recorded June 1, 1942; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 53.67 feet; thence South 87 degrees 26 minutes 10 seconds East, a distance of 82.01 feet; thence North 2 degrees 28 minutes 46 seconds East, a distance of 40.83 feet; thence South 87 degrees 32 minutes 38 seconds East, a distance of 45.08 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 177.59 feet; thence North 87 degrees 31 minutes 24 seconds West, a distance of 44.91 feet; thence North 2 degrees 29 minutes 13 seconds East, a distance of 24.86 feet; thence North 87 degrees 22 minutes 20 seconds West, a distance of 82.69 feet to a point on said East right-of-way line of Pennsylvania Avenue; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 42.83 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South lot line, a distance of 10.00 feet to the Southwest corner of said Lot 93; thence North 2 degrees 22 minutes 00 seconds East along the West line of said Lot 93 and along the East right-of-way line of said Pennsylvania Avenue, a distance of 10.15 feet; thence South 87 degrees 29 minutes 10 seconds East, a distance of 348.18 feet, to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof, recorded September 25, 1989 as Document No. K-896030, in Book K-37 at Page 95; thence South 2 degrees 19 minutes 52 seconds West, along said West line and its Northerly prolongation, a distance of 187.63 feet to the Southwest corner of said TOWNSEND PLACE CONDOMINIUM; thence South 2 degrees 15 minutes 56 seconds West along the East line of Lot 113 of said LA SOLANA, a distance of 162.21 feet, more or less, to the Southeast corner of said Lot 113 and the point of beginning.
AND
All that part of Lots 93 through 99 and Lots 102 through 113 of LA SOLANA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, recorded February 19, 1926 as Document No. 272274, in Plat Book 23 at Page 10, and that part of 46th Street Terrace right of way vacated by Ordinance Number 971461, approved October 16, 1997, lying above an elevation of 335.00 feet, Kansas City, Missouri Datum, described as follows: Beginning at the Southeast corner of Lot 113 of said LA SOLANA, being also a point on the North right-of-way line of 47th Street, as now established; thence North 87 degrees 29 minutes 14 seconds West along the South line of Lots 113 through 109, inclusive, of said LA SOLANA, and along said North right-of-way line, a distance of 338.59 feet, more or less, to a point of intersection with the East right-of-way line of Pennsylvania Avenue, as established by Ordinance Number 7286 recorded June 1, 1942; thence North 2 degrees 22 minutes 00 seconds East, along said East right-of-way line, a distance of 339.89 feet to a point on the North right-of-way line of said vacated 46th Street Terrace, being also a point on the South line of Lot 93 of said LA SOLANA; thence North 86 degrees 15 minutes 46 seconds West along said North right-of-way line and along said South right-of-way line, a distance of 10.00 feet to the Southwest corner of said Lot 93; thence North 2 degrees 22 minutes 00 seconds East along the West line of said Lot 93 and along the East right-of-way line of said Pennsylvania Avenue, a distance of 10.15 feet; thence South 87 degrees 29 minutes 10 seconds East, a distance of 348.18 feet to a point of intersection with the Northerly prolongation of the West line of TOWNSEND PLACE CONDOMINIUM, a condominium subdivision, according to the recorded plat thereof, recorded September 25, 1989 as Document No. K-896030, in Book K-37 at Page 95; thence South 2 degrees 19 minutes 52 seconds West, along said West line and its Northerly prolongation, a distance of 187.63 feet to the Southwest corner of said TOWNSEND PLACE CONDOMINIUM; thence South 2 degrees 15 minutes 56 seconds West along the East line of Lot 113 of said LA SOLANA, a distance of 162.21 feet, more or less, to the Southeast corner of said Lot 113 and the point of beginning.
The above tracts being described as LOT 1A, MINOR PLAT OF PART OF LOTS 93 THROUGH 99 AND LOT 102 THROUGH 113 AND VACATED 46TH STREET TERRACE, ALL IN THE PLAT OF LA SOLANA, in the City of Kansas City, Jackson County, Missouri, a part of the Southeast 1/4 of the Northeast 1/4 of Section 30, Township 49 North, Range 33 West, recorded August 26, 2016, as Document No. 2016E0078971, in Plat Book 43, Page 49, as amended by Affidavit recorded on November 23, 2016 in Instrument No. 2016E0111012.
TRACT 18: (Commerce Bank):
Parcel A:
ALL of LOT 67, except the South 9 feet thereof, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.
Parcel B:
Lot 68, COUNTRY CLUB PLAZA, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof
TRACT 19: (Cocina Property)
All of the west one hundred and twenty (120) feet of the east one hundred and forty-six (146) feet of Lot Twenty-Six (26) HOME PLACE, a sub-division in the City of Kansas City, Jackson County, Missouri, lying north of the north line of the 47th Street, as said street is now established in Kansas City, Missouri.
TRAT 20: (Park Hotel)
TRACT A:
Lots 1, 2, 3, 4, 5, 6, 7, and 8, REES TURPIN'S ADDITION, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, and all of vacated 46th Street way lying north of and adjacent to Lots 1 thru 8, REES TURPIN'S ADDITION.
TRACT B:
All that part of the Northwest Quarter of Section 29, Township 49, Range 33, Kansas City, Jackson County, Missouri, described as follows: beginning at a point in the west line of J.C. Nichols Parkway (formerly Mill Creek Parkway) 535.00 feet due south of the south line of South Moreland which point is also the intersection of the west line of J.C. Nichols Parkway (formerly Mill Creek Parkway) with the north line of 46th Street; thence northerly along the west line of J.C. Nichols Parkway (formerly Mill Creek Parkway) 111.02 feet; thence west 73.11 feet; thence due south 107.00 feet to the north line of 46th Street; thence east along the north line of 46th Street 103.35 feet to the point of beginning, in Kansas City, Jackson County, Missouri.
Being more particularly described on Plat of Survey prepared by Donald W. Kozel, R.L.S., dated May 15, 2003, last revised December 13, 2004, Drawing No. PPBASOO1.DWG: Commencing at the southeast corner of Lot 4, REES TURPIN'S ADDITION, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof, said point being the point of beginning of the herein described tract; thence N 86°01'53" W, along the south line of Lots 4 & 5 said REES TURPIN'S ADDITION, a distance of 275.78' (plat 275.35') to the southwest corner of said Lot 5, said point being the beginning of a non-tangent curve concave to the southwest having a radius of 363.37 feet and an initial tangent bearing of N 09°29'52" W; thence northwesterly, along the west line of said Lot 5, 12.08' (plat 12.13') along said curve through a central angle of 1°54'16"; thence N 11°24'07" W, along the west line of Lots 5-8, said REES TURPIN'S ADDITION, a distance of 188.73' (plat 189.01') to the northwest corner of Lot 8, said REES TURPIN'S ADDITION; thence continuing N 11°24'07" W, a distance of 20.74' to a point on the north right-of-way line of vacated 46th Street way, said point also being on the south line of PARKWAY TOWERS CONDOMINIUM SUBDIVISION, a subdivision in Kansas City, Jackson County, Missouri; thence S 86°01'53" E, along said north right-of -way line and south line of PARKWAY TOWERS CONDOMINIUM, a distance of 172.37' (record 172.00'); thence N 04°26'34" E, a distance of 107.00'; thence S 86°05'18" E, a distance of 73.11', to a point on the westerly right-of-way line of J.C. Nichols Parkway; thence S 11°21'47" E, along said westerly right-of-way line, a distance of 111.02' to a point on the north right-of-way line of vacated 46th Street way; thence continuing S 11°21'47" E, a distance of 20.74', to a point on the south right-of-way line of vacated 46th Street way, said point also being the northeast corner of REES TURPIN'S ADDITION; thence continuing S 11°21'47" E, along the east line of Lots 1-4, REES TURPIN'S ADDITION and the northerly prolongation thereof, a distance of 200.82' (plat 201.22') to the point of beginning. Including all adjoining vacated right-of-way and adjoining right-of-way to each of the above-described Tracts of property.
Section 3. That tax increment allocation financing is hereby adopted for taxable real property in the above-described area selected for the Redevelopment Project Area. 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 (“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:
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 the Redevelopment 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;
2. Payments in lieu of taxes (“PILOTS”) attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in the Redevelopment Project Area over and above the initial equalized assessed value of each such unit of property in the Redevelopment 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. 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 Redevelopment 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 payments in lieu of taxes and economic activities taxes which are imposed by the City and certain taxing districts and generated by economic activities within the Redevelopment 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 Redevelopment 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 designed 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.
end
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Approved as to form:
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Emalea Kohler
Associate City Attorney