ORDINANCE NO. 240899

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Sponsor:  City Manager’s Office

Accepting and approving the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the termination of the designation of Redevelopment Project Area VI; and terminating Redevelopment Project Area VI; declaring as surplus those funds within the special allocation fund established in connection with the Redevelopment Project Area VI; authorizing the distribution of such surplus funds.

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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 June 6, 1996, the City Council passed Ordinance No. 960307, which accepted the recommendations of the Commission and approved the Barry Towne Tax Increment Financing 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. 011203, accepted the recommendations of the Commission, and approved the First Amendment to the Redevelopment Plan on September 6, 2001; and

WHEREAS, the City Council, by Ordinance No. 040807, accepted the recommendations of the Commission, and approved the Second Amendment to the Redevelopment Plan on August 12, 2004; and

WHEREAS, the City Council, by Ordinance No. 160423, accepted the recommendations of the Commission, and approved the Third Amendment to the Redevelopment Plan on July 14, 2016; and

WHEREAS, an Amended Fourth Amendment to the Redevelopment Plan (“Fourth 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 June 10, 2024, and after receiving the comments of all interested persons and taxing districts, each closed their respective public hearing, each approved (y) the Fourth Amendment to the Redevelopment Plan  and (z) (i) dissolve the Special Allocation Fund(s) established in connection with Redevelopment Project Area VI, as described by Ordinance No. 160425, (ii) remit any surplus on deposit therein to the affected tax districts, in accordance with the Act, and (iii) terminate the designation of Redevelopment Project Area VI and each recommended that the City Council do the same; and

WHEREAS, the Fourth Amendment provides for (a) a modification to the legal description of the Redevelopment Area, (b) the elimination of Redevelopment Project Areas III.B and VI, (c) modifications to the Site Plan, (d) the elimination of all improvements contemplated by or funded with tax increment financing generated by the Redevelopment Project Areas VI and VI, (e) modifications to the Estimated Redevelopment Project Costs, (f) modifications to the Sources of Funds, (g) modifications to the Estimated Annual Payments in Lieu of Taxes and Economic Activity Taxes (h), modifications to the Estimated Equalized Assessed Valuation after Redevelopment, and (i) the inclusion of all conforming changes within the Exhibits to the Plan that are in furtherance of the foregoing modifications; and

WHEREAS, after the conclusion of each public hearing for the Clay County KC TIF Commission and the Kansas City TIF Commission, an addendum to Exhibit 8 to the Fourth Amendment, entitled, Addendum to Existing Conditions Study, was attached to and incorporated within the Fourth Amendment to provide an explanation and the rationale for each of the Kansas City TIF Commission’s and the Clay County KC TIF Commission’s decision in affirming their respective findings that the Redevelopment Area is an “economic development area”, as such term is defined in Section 99.805 of the Act (collectively, the “Modifications”); and

WHEREAS, after proper notice of such Modifications, in accordance with Section 99.825 and 99.830 of the Act, the City Council, by Ordinance No. 240626, accepted the recommendations of the Commission, and approved the Amended Fourth Amendment to the Redevelopment Plan on August 1, 2024; and NOW THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1.  That the recommendations of the Commission concerning the termination of the designation of Redevelopment Project Areas VI of the Barry Towne Tax Increment Financing Plan, as set forth in Resolution No.7-10-24 and Resolution No. 7-11-24, are hereby accepted.

Section 2.  That the designation of Redevelopment Project Areas VI of the Barry Towne Tax Increment Financing Plan, as provided for by Ordinance No. 160425, is hereby terminated.

Section 3.  That all funds within any Special Allocation Fund established in connection with Redevelopment Project Areas VI of the Barry Towne Tax Increment Financing Plan is 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 for Redevelopment Project Areas VI of the Barry Towne Tax Increment Financing Plan shall be dissolved.

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Approved as to form:

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Emalea K. Black

Associate City Attorney