ORDINANCE NO. 260545
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Sponsor: City Manager’s Office
Acknowledging that the twenty-three-year statutory periods for the capture of tax increment allocation financing within Project Areas A, B, and H of the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan has expired; terminating the designation of Project Areas A, B, and H of the Plan as redevelopment projects therein; terminating the designation of the Plan as a Tax Increment Financing Plan; declaring as surplus those funds within the special allocation fund(s) established in connection with each such Project Area; dissolving the special allocation fund(s) established in connection with each such Project Area; and directing the City Clerk to send copies of this ordinance to Jackson County.
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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"), the City Council of Kansas City, Missouri (the “City Council”), 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, Committee Substitute for Ordinance No. 140823, as amended on June 18, 2015, and Committee Substitute for Ordinance No. 230524, passed on June 22, 2023, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on November 27, 1995, the City Council passed Committee Substitute for Ordinance No. 951469, , which accepted the recommendations of the Commission and approved the Tower Properties Downtown Redevelopment Area 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 Redevelopment Plan has been amended seven (7) times by the City Council by Ordinance No. 020650, Ordinance No. 010362, Committee Substitute for Ordinance No. 030256, Ordinance No. 030258, Ordinance No. 040739, Ordinance No. 051330, and Ordinance No. 060451; and
WHEREAS, the Redevelopment Plan, as amended, contemplates the designation of multiple redevelopment project areas, including Redevelopment Project Area A as designated by Ordinance No. 951470 on December 17, 1998 and subsequently amended by Committee Substitute for Ordinance No. 041380 on December 16, 2004, Redevelopment Project Area B as designated by Ordinance No. 951471 on September 12, 2002, Redevelopment Project Area H as designated by Ordinance No. 951477 on May 31, 2001; and
WHEREAS, the twenty-three-year statutory period for the capture of tax increment allocation financing within Project Areas A, B, and H of the Redevelopment Plan have expired;
WHEREAS, Project Areas C and F were terminated by Committee Substitute for Ordinance No. 070326; and
WHEREAS, the ordinances to approve and designate Redevelopment Project Areas D, E, G, and I were never passed by the City Council and were subsequently released from the City Council agenda; and
WHEREAS, with the expiration of the twenty-three-year statutory period for the capture of tax increment financing within the Redevelopment Project Areas there are no other active phases in the Redevelopment Plan, and the Redevelopment Plan is effectively terminated; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Council hereby acknowledges that the twenty-three-year statutory periods for the capture of tax increment allocation financing within Project Areas A, B, and H of the Plan have expired.
Section 2. That the designation of Project Areas A, B, and H of the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan is hereby terminated, and the City Council hereby terminates the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan.
Section 3. That all funds within any special allocation fund(s) established in connection with each such Project Area are hereby declared as surplus and shall be distributed in accordance with the Act and the provisions of this ordinance.
Section 4. That following the distribution of the surplus funds, the special allocation fund(s) for each such Redevelopment Project Area of the Tower Properties Downtown Redevelopment Area Tax Increment Financing Plan shall be dissolved.
Section 5. That the City Clerk is hereby directed to send copies of this ordinance to Jackson County.
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Approved as to form:
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Katherine Chandler
Senior Associate City Attorney