The URL can be used to link to this page

Home My WebLink About1999-03-01 TIF Commission ResolutionRESOLUTION N0.99-03-O1 RESOLUTION OF THE TAX INCREMENT FINANCING COMMISSION OF RIVERSIDE, MISSOURI AMENDING THE L-385 LEVEE REDEVELOPMENT PLAN' (THE "PLAN") INCLUDING INCREASING REIMBURSABLE PROJECT COSTS RELATED TO REDEVELOPMENT PROJECT I (L-385 LEVEE), APPROVING THE INCLUSION OF THE REDEVELOPMENT PROJECT I-PHASES GAND H WITHIN THE PLAN; APPROVING THE DESIGNATION OF THE REDEVELOPMENT PROJECT I- PHASES GAND HAREAS; APPROVING THE ADOPTION OF TAX INCREMENT FINANCING FOR THE REDEVELOPMENT PROJECT I-PHASES G AND H AREAS TO PROVIDE FUNDS FOR REDEVELOPMENT PROJECT I; APPROVING THE CONSTRUCTION AND REIMBURSEMENT OF AND TAX INCREMENT FINANCING FOR ADDITIONAL PUBLIC WORKS CONSISTING OF AN INTERCHANGE AND ROAD IMPROVEMENTS AS REDEVELOPMENT PROJECT II AND ESTABLISHING AN ORDER OF PRIORITY. WHEREAS, the TIF Commission was created pursuant to Ordinance No. 95-64, adopted by the Board of Aldermen of Riverside, Missouri (the "Board of Aldermen") on September 12, 1995. WHEREAS, the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended (the "Act"), requires the Commission to: (a) hold hearings with respect to proposed redevelopment areas, redevelopment plans and redevelopment projects; (b) vote on the approval of the same; and (c) make its recommendations on the same to the Board of Aldermen. WHEREAS, the Plan, the establishment of the Redevelopment Area as a "blighted area," its designation as a redevelopment area under the Act, Redevelopment Project I and the Redevelopment Project I Area were originally approved by the Board of Alderpersons pursuant to Ordinance No. 96- 72 passed on July 16, 1996 after recommendation of same by the TIF Commission pursuant to Resolution No. 96-06-01 passed on June 27, 1996. WHEREAS, additional phases of Redevelopment Project I have been recommended by the TIF Commission, by Resolution Nos. 96-06-01, 97-01-02, 97-01-03, 97-01-04, 97-08-01 and 98-04- 02, and approved by the Board of Alderpersons, by Ordinance Nos. 96-72, 97-11, 97-12, 97-13, 97- 95 and 98-41 as Phases A, B, C, D, E and F, respectively, of the Redevelopment Project I. WHEREAS, the Redevelopment Project I has been moving forward and it is now desirable to more fully detail the Reimbursable Project Costs associated with it. WHEREAS, the L-385 Intergovernmental Agreement between the City, the TIF Commission and the Levee District, Platte County, Missouri, MDFB and Trillium relating to implementation of Terms used herein but not defined in this Resolution shall have the meaning ascribed to such term in the Plan, as amended. e. there are no businesses within such Redevelopment Project I-Phase Areas which are required to be relocated due to these two phases. 2. The Commission approves the designation of the Redevelopment Project I-Phase G Area and Phase H Area, each as a redevelopment project area under the Act. 3. The Commission has previously approved the Plan and hereby approves all of the amendments to the Plan. 4. The Commission approves the inclusion of the Redevelopment Project I-Phases G and H and the Redevelopment Project II within the Plan and expects to adopt additional specific redevelopment project(s) and redevelopment project area(s) within the Redevelopment Area on aproject-by-project basis. 5. The Commission recommends to the Board of Aldermen that the Board of Aldermen pass one or more ordinances: a. Finding the Redevelopment Area, including Redevelopment Project I-Phases G and H Areas, have been found blighted and designating the Redevelopment Project I-Phases G and H Areas, each as a phase of Redevelopment Project I and as a redevelopment project area under the Act. b. Approving the inclusion of the Redevelopment Project I-Phases G and H and the Redevelopment Project II within the Plan. c. Approving tax increment financing for the following phases of Redevelopment Project I: Redevelopment Project I-Phase G Area and Redevelopment Project I- Phase H Area; and for Redevelopment Project II; and providing that: (i) after the total equalized assessed valuation of the taxable real property in the Redevelopment Project I-Phase G Area and Redevelopment Project I-Phase H Area, respectively, exceeds the certified total initial equalized assessed valuation of the taxable real property in such Redevelopment Project I-Phase G Area and Redevelopment Project I-Phase H Area, respectively, the ad valorem taxes and payments in lieu of taxes, if any, arising from the levies upon taxable real property in such Redevelopment Project I-Phase G Area and Redevelopment Project I-Phase H Area, respectively, by taxing districts and tax rates determined in the manner provided in subsection 2 of the Section 99.855 of the Act each year after the effective date of this ordinance until the Redevelopment Project Costs pursuant to the Plan have been paid, shall be divided as follows: (a) 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, 3 tract, or parcel of real property in the Redevelopment Project I-Phase G Area and Redevelopment Project I-Phase H Area, respectively, shall be allocated to, and when collected shall be paid by the county collector to, the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing; (b) Payments in lieu of taxes 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 I-Phase G Area and Redevelopment Project I-Phase H Area, respectively, over and above the initial equalized assessed value of each such unit of property in the Redevelopment Project I-Phase G Area and Redevelopment Project I-Phase H Area, respectively, shall be allocated to, and when collected shall be paid to, the municipal treasurer who shall deposit such payment in lieu of taxes into a special fund called the "Special Allocation Fund" of the municipality for the purpose of paying redevelopment costs and obligations incurred in the payment thereof. Payments in lieu of taxes which are due and owing shall constitute a lien against the real estate of the redevelopment project from which they are derived. The municipality may, in the ordinance, pledge the funds in the special allocation fund for the payment of such costs and obligations and provide for the collection of payments in lieu of taxes, the lien of which may be foreclosed in the same manner as a special assessment lien as provided in Section 88.861 RSMo. No part of the current equalized assessed valuation of each lot, block, tract, or parcel of property in the Redevelopment Project I-Phase G Area and Phase H Area, respectively, attributable to any increase above the total initial equalized assessed value of such respective properties shall be used in calculating the general state school aid formula provided for in Section 163.031 until such time as all redevelopment costs have been paid as provided for in this section and Section 99.850. (ii) in addition to the payments in lieu of taxes described in Section 99.845.1(2) of the Act, the total additional revenues from taxes generated by economic activities in a Redevelopment Project Area, as described in Section 99.845.3 of the Act, shall be allocated as set forth in Section 99.845.3 of the Act. (iii) in addition to the payments in lieu of taxes described in Section 99.845.1(2) of the Act and the economic activity taxes described in Section 99.845.3 of the Act, the total additional revenues from New 4 State Revenues generated within a Redevelopment Project Area as provided in Section 99.845.4-.12 of the Act shall be allocated as set forth in Section 99.845.4-.12 of the Act. Passed this ~i day of _J !' ' 1999. ATTEST: Ron Super, C airman l~~~G~EC~tc.e~y Ann Daniels, Secretary EXHIBIT 1-G APPLICATION RELATED T ~ TAX N RENIENT FINANCING FOR THE L-385 LEVEE PROTECT APPLICANT: INnUSTRIAL SPRING CORPORATION 4205 WEST RIVERSIDE STREET, ... ADDRESS: 816-741-6073 PHONE #: FAX #: 816-741-1070 CONTACT PERSON: ROBERT F. TRILL Please answer the following questions (if additional space is needed, please attached information): (I) Describe the proposed project, including its nature, size, scope and phasing (including projected completion date): This nro ject i s an 11 000 sgft adds t~ ~~ +~ our manufacturing plant. The addition will be used to store raw ma eria s an or smite manufacturing. Our completion date is (2) Identify the owner of the real estate upon which the proposed project would be constructed: Industrial Spring Corporation (3) Define the boundaries of such real estate by address: 4205 West Riverside Street , Riverside, Missouri 64150 Attacha map/sketch of the area and a leeal description of the aroaerty. (4) Provide the Platte County Tax Parcel Number for the property: Sec 04 Twn 50 Rng 33 Tax parcel # 15-0148-00-000030 (5 j Provide estimated cost of the proposed otaiecl,(T~al property-buildings, improvements, e[c. portion only-not personal property): $400,000 (6) Will the proposed project generate retail sales? NO If yes, provide estimate of annual retail sales subject to sales tax: (7) \Will portions of the proposed project be leased? NO If yes, please identify all tenants: (8) Pro0vide the number of cutrent full-time employees 21 and part-time employees employed on the development site prior to this project and an estimate of the number of additional full-time employees 22 and part-time employees 0 due to the proposed project. APPLICATION RELATED TO TAX INCREMENT FINANCING FOR THE L-3~8~5J LEVEE /PROJECOTt',, APPLICANT: %t'/~~ `l 'v~~ '`~'"'~~ ~~ ~ ADDRESS: ~ ~~sl~- dt", ~ ccs;'~ l°f~'f PHONE #: 8<6 ~/ 7902 FAX #: 8!6 ~S~/ SZrf CONTACT PERSON: /Lfsxx ~/,B,/~,,~ Please answer the following questions (if additional space is needed, please attached information): (1) Describe the proposed project, including its nature, size, scope and phasing (including projected completion date): ~~7 OaD ~ ~ c~ ~ ~,vxc ~~ ~~~ -s~/,~. (2) Identify the owner of the real estate upon which the proposed project would be constructed: (3) Define the boundaries of such real estate by address: j3o~ NW ~[~ax/ . Attach a map/sketch of the area and a leeal descriution of the aroperty. (4) (5) (6) (~) Provide the Platte County Tax Parcel Number for the property: a3-Z.o- 0~-3~ -ooS-do/-ovo Provide estimated cost of the proposed project (real proper -buildings, improvements, etc. portion only-not personal property): ~l ~! OUa ~ Will the proposed project generate retail sales? _~. If yes, provide estimate of annual retail sales subject to sales tax: ~f ~O~~d Will portions of the tenants: f~ (8) Provide the number of current full-time employees and part-time employees ~ employed on the development site prior to this project and an estimate of the number of additional full-time employees ~- and part-time employees ~ due to the proposed project. project be leased? y~S If yes, please identify all DESCRII'TtON: ALL -THAT PART ~4F -.THE SOUTHWEST. QUARTER OF SECTION 4 -AND PART OF- THE'~~NQRTHWEST'QUARTER OF THE- NORTHWEST QUARTER OF SECTION 9, BOTH 1N..7OWNSHIP 50, RANGE ~33, PLATTE COUNTY, MISSOURI, BEING. MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT .THE NORTHEAST CORNER OF TH£ NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION .9; THENCE S 00'25'00" W ALONG THE EAST LINE OF SA1D QUARTER QUARTER SECTION A DISTANCE OF 203.12 FEET TO A POINT ON THE NORTHEASTERLY RIGHT-OF-WAY LINE OF THE CHICAGO BURLINGTON do QUINCY RAILROAD; THENCE N 69'19'36" W ALONG SAID NORTHEASTERLY RIGHT-OF-WAY LINE A DISTANCE OF 526.73 FEET TO THE POINT OF BEGINNING OF THE TRACT OF LAND TO BE DESCRIBED; THENCE CONTINUING N 69'19'36" W ALONG SAID NORTHEASTERLY RIGHT-OF-WAY LINE A DISTANCE OF 314.93 FEET; THENCE N 14'0654" E A DISTANCE OF 740.40 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY LINE OF INTERSTATE ROUTE N0. 635 AS NOW ESTABLISHED; THENCE S 84'38'03" E ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE A DISTANCE OF 124.10 FEET TO A POINT ON THE SOUTHWESTERLY RIGHT-OF-WAY LINE OF MISSOURI STATE HIGHWAY ROUTE N0. 9 AS NOW ESTABLISHED; THENCE S 53'37'31" E ALONG SAID SOUTHWESTERLY RIGHT-OF-WAY LINE A DISTANCE OF 278.02 FEET; THENCE S 19'40'08" W A DISTANCE OF 693.19 FEET TO THE POINT OF BEGINNING. CONTAINS 258,680 SQUARE FEET OR 5.93 ACRES, MORE OR LESS. END OF DESCRIPTION.