ORDINANCE NO. 160421
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Sponsor: Director of City Planning and Development Department
Approving and designating Redevelopment Project E of the Platte Purchase Development Plan as a Redevelopment Project; and adopting tax increment financing therefore.
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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 created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and
WHEREAS, on November 6, 2014, the City Council passed Committee Substitute for Ordinance No. 140916, which accepted the recommendations of the Commission as to the Platte Purchase Development Plan ("Redevelopment Plan") and designated the Redevelopment Area as an economic development area; and
WHEREAS, the Redevelopment Plan and Committee Substitute for Ordinance No. 140916 contemplate the implementation of the Redevelopment Plan through a number of separate Redevelopment Projects and the adoption of tax increment financing in each of the areas selected for such Redevelopment Projects; 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 legally described as follows:
A tract of land in the Fractional West Half of Section 3 and the East Half of Section 4, both in Township 51 North, Range 33 West of the 5th Principal Meridian in Kansas City, Platte County, Missouri being bounded and described as follows: Commencing at the Northwest corner of Fractional Southwest Quarter of said Section 3; thence South 00?28'49" West, 252.85 feet to the Point of Beginning of the tract of land to be herein described; thence South 89?34'42" West, 809.56 feet; thence North 64?55'01" East...
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