ORDINANCE NO. 240898
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Sponsor: City Manager’s Office
Approving the Amended Eighth Amendment to the Platte Purchase Development 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”), 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, and 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 July 28, 2016, the City Council passed Ordinance No. 160415, which accepted the recommendations of the Commission and approved the Platte Purchase Development Plan (the “Redevelopment Plan”) and designated the Redevelopment Area described therein to be an Economic Development Area (the “Redevelopment Area”); and
WHEREAS, the City Council, by Ordinance No. 170971, accepted the recommendations of the Commission, and approved the First Amendment to the Redevelopment Plan on December 14, 2017; and
WHEREAS, the City Council, by Ordinance No. 190264, accepted the recommendations of the Commission, and approved the Second Amendment to the Redevelopment Plan on April 18, 2019; and
WHEREAS, the City Council, by Ordinance No. 200205, accepted the recommendations of the Commission, and approved the Third Amendment to the Redevelopment Plan on October 17, 2019; and
WHEREAS, the City Council, by Ordinance No. 200205, accepted the recommendations of the Commission, and approved the Fourth Amendment to the Redevelopment Plan on April 16, 2020; and
WHEREAS, the City Council, by Ordinance No. 200709, accepted the recommendations of the Commission, and approved the Fifth Amendment to the Redevelopment Plan on September 17, 2020; and
WHEREAS, the City Council, by Ordinance No. 210889, accepted the recommendations of the Commission, and approved the Sixth Amendment to the Redevelopment Plan on October 7, 2021; and
WHEREAS, the City Council, by Ordinance No. 220346, approved the Seventh Amendment to the Redevelopment Plan on May 5, 2022; and
WHEREAS, an Amended Eighth Amendment to the Redevelopment Plan (“Eighth Amendment”) was proposed (a) to the Commission constituted pursuant Section 99.820.3 of the Act (the “Clay County KC TIF Commission”) and (b) the Commission constituted pursuant to Section 99.820.2 (the “Kansas City TIF Commission”) and each of the Clay County KC TIF Commission and the Kansas City TIF Commission having been duly constituted and its members appointed, after proper notice was given, met in separate public hearings on September 11, 2024, and after receiving the comments of all interested persons and taxing districts, each closed their respective public hearing, each approved the Eighth Amendment to the Redevelopment Plan and each recommended that the City Council do the same; and
WHEREAS, the Eighth Amendment provides for (a) a modification to the description of the Project Improvements, (b) modifications to the Site Plan, (c) modifications to the Estimated Redevelopment Project Costs, (d) modifications to the Sources of Funds, (e) modifications to the Redevelopment Schedule (f), modifications to the Estimated Initial Equalized Assessed Valuation of the Redevelopment Area, and (g) the inclusion of all conforming changes within the Exhibits to the Plan that are in furtherance of the foregoing modifications; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. The Eighth 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 City Council hereby finds that good cause has been shown for the Eighth Amendment of the Plan and that the findings of the Council in Ordinance Nos. 160415, Ordinance No. 170971, Ordinance No. 190264, Ordinance No. 200205, Ordinance No. 200709, Ordinance No. 210889, and Ordinance No. 220346 except as expressly modified by the Eighth Amendment, are not affected by the Eighth Amendment and apply equally to the Eighth Amendment
Section 4. That the Council hereby finds that:
a. The Redevelopment Area as a whole is an economic development area, as defined in Section 99.805 of the Act, 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.
b. The Plan, as amended by the Eighth Amendment, conforms to the comprehensive plan for the development of the City as a whole.
c. The areas selected for Redevelopment Projects include only those parcels of real property and improvements thereon which will be directly and substantially benefited by the Redevelopment Project Improvements.
d. The estimated dates of completion of the Redevelopment Projects and retirement of obligations incurred to finance Redevelopment Project Costs have been stated in the Plan, as amended by the Eighth Amendment, and are not more than 23 years from the passage of any ordinance approving a Redevelopment Project within the Redevelopment Area.
e. The Plan, as amended by the Eighth Amendment, includes a plan for relocation assistance for businesses and residences.
f. A cost-benefit analysis showing the impact of the Plan on each taxing district which is at least partially within the boundaries of the Redevelopment Area has been prepared in accordance with the Act.
g. The Plan, as amended by the Eighth Amendment, does not include the initial development or redevelopment of any gambling establishment.
h. A study has been completed and the findings of such study satisfy the requirements provided under Section 99.810, RSMo.
Section 5. That the Commission is authorized to issue obligations in one or more series of bonds secured by Platte Purchase Development Plan Account of the Special Allocation Fund to finance Redevelopment Project Costs identified by the Plan, as amended by the Eighth Amendment, 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 take all such further actions as are reasonably necessary to achieve the objectives of the Plan, as amended by the Eighth Amendment. Any obligations issued to finance Redevelopment Project Costs shall contain a recital that they are issued pursuant to Sections 99.800 to 99.865 of the Act, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
Section 6. That pursuant to the provisions of the Redevelopment Plan, the City 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