HomeMy WebLinkAbout1999-11-01 TIF Commission ResolutionRESOLLtTIO~ V~O. 99-i1-U1
RESOLCTIO\ OE 'pHE TA.l' I\CRE~fEV"'T FI\~\CI~G CO~[~IISSIO\ OF
RIV>!;RSIllE. ~IISSOLRI t"COIDIISSIOV") aPPROV(\~G THE I\CLi;SIO\ OF "fHE
REDEVELOP~IF,~iT PROJECT I-PHASE .F ~V[THIV~ THE L-38~ LEVEE
REDEVELOP_lIE`'I' PLA\, AS A~IE\DF.D ("PLA\"); APPROVI\G THE
llESIG\ATIO\ OF THE ItEDEVELOPIIE\T PROJECT' I-PHASE.J AREA; .-t.PPROVI`G
THE ADOPTIO\ OF TA5 I\CREIIE\T EI\A~CI`G FOR THE REDEVELOPViE\T
PROJECT I-PHASE .J AREA; A\~D EIPRESSI\G ITS REC01i\IE\DA'I'IO\S TO THE
BOARD OF ALDERJIE\ OF RIVERSIDE, ~iISSOLItl tVITH RESPECT TO'I'HE SAME
~~'HERE:~S, the C~?mmission was created pursuant to i~rdinance :Vo. 95-6~3. adopted by
the Board of Aldermen ~>f Riverside, Missouri ~ the "Board of Aldermen") on September I2, 199;
WHEREAS. the R,:al Propene Tax Increment Allocation Redevelopment Act. Sections
99.300 te? 99.86 of the Revised Statutes of Missouri. 1994, as amended (the "Act"}, requires the
Commission to: (a hold hearings with respect to proposed redevelopment areas. redevelopment
plans and redev~elopmen[ projects: gib) vote or. the approvai of the same; and (cj make its
recommendations on the same to the Board of Aldermen;
WHEREAS, the Commission. by Resolution No. 96-06-01, passed on June 27. 1996.
classified the Redevelopment Area ~; as defined in the Plan) as a "blighted area" and desi~~nated it
as a redevelr~ment area urxier the Acr, approved the Plan, the Redevelopment Project I and the
Redevelopment Proiect I Area: adopted tax increment tinancim~ for the Redevelopment Project
I Area: and expressed its reconurend<rtion to the Board of .aldermen with respect to the same; and
WHEREAS. [he &~ard of Aldermen. by Ordinance No. 96 72, passed on July 16. 1996.
classified the Redevelopment Area as a "hli~Thted area" znd designated it as a redevelopment area
under the Acr. approved the Plan, the Rede~.elopment Pr~?ject I and the Redevelopment Project
I Area: acrd adopted tali increment financinU for the Redevelopment Prelect I Area; which
deli,nation provides for the approval of individual projects on a project-bp-project basis: and
WHEREAS, the Bo;ud of Aldermen has approved subseyuent amendments to thz Plan after
recommendations by the Commission, inc(udim~ Redevelopment Project I-Phases ,~, B. C. D, F.
G.HandL
WHEREAS. the Commission has received and re:iew~ed a Tax Increment Financing
Application from knappco Corporation retarding the constroctionof a 30,000 square foot addition
to the existing 60.000 square frxx building ldre "Redevelopment Proiect I-Phase J") within the
Redevelopment .area. and nn a tract of progeny more particularly described on attached Exhibit
.a (the "Redevelopment Project I-Phase J Area"j. (A cope of the Applicatio^ is attached as
Exhibit B. j
\O~V, THEREFORE. BE IT RESOLFED by the Tat Increment Financirg Commission
of Riverside. I~fissouri;
The Commission has previously found that:
a. the existing conditions of the Redevelopment Project I-Phase J Area, as described
in Exhibit .~, are a fair depiction of the Redevelopment Project I-Phase J Area and
cause the Redevelopment Project I-Phase J Area to be a "blighted area" as defined
in the .act;
b. the E2edeveiopment Project I-Phase J Area has not been subject to growth and
development through avestment by private enterprise and would not reasonably be
anticipated to be developed without the adoption of the Plan:
~. the Plan, as amended, conforms to the comprehensive plan for development of the
Ciry o2 Ri~~~erside, ;Missouri as a whole;
d. the estimated daces, wr ich shall not be more than 23 years from the adoption of the
respective ordinances approving the Redevelopment Projects, of completion of the
Redeveloprtenc Projects and retirement of obligations incurred to finance
redevelopment project costs have been stated in the Plan; and
e there are currently no businesses or residences within the Rede~.~elopment Proiect
I-Phase J Area which will be required to be relocated due to Phase J.
'. The Commission ap?roves the designation of the Redevelopment Project I-Phase J Area
as a redevelopment project area under the Act.
3. The Commission has previously approved the Plan.
~. The Commission approves the inclusion of the Redevelopment Project I-Phase J within the
Plan and expects to adopt additional specific redevelopment proiect(s) and redevelopment
project areas} within the Redevelopment Area on aproject-by-project basis.
~. The Commission recommends to the Board of Aldermen that the Board of Aldermen pass
one or more ordinances:
a. Finding the Redevelopment Project I-Phase J Area to be blighted and designating
the Redevelopment Project I-Phase J Area as a redevelopment project area under
the Act.
h. Approving the inclusion of the Redevelopment Project I-Phase J within the Plan.
c. Approving tax increment i nancing for the Redevelopment Project I-Phase J Area
and providing that:
(i) utter the total equalized assessed valuation. of the taxable real property in
the Redevelopment Project I-Phase J Area exceeds the cenified total initial
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equalized assessed valuation of the taxable real property in such
Redevelon_ ment Project I-Phase J Area, the ad valorem taxes and payments
in lieu of taxes, if any, arising from the levies upon taxable real property
in such Redevelopment Projec: [-Phase J Area by taxing districts and tax
rates determined in the manner provided in subsection Z of the Section
99,855 itT the Ac 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) hhat portion of taxes levied ~.;pon each taxable lot, block, tract, or
parcel of real properr; which is attributable to the initial equalized
assessed value of each such taxable lot, block, tract, or parcel of
real property in the Redevelopment Proiec: I-Phase 1 .Area 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 dte 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 J Area
over 2nd above the initial equalized assessed value of each such unit
of property in the Redevelopment Project I-Phase J Area shall be
allocated [o, 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" ofthe 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 ':ot, block, tract, or parcel of
property in the Redevelopment Project 1-Phase J Area arributable
to any increase above the total initial equalized assessed value of
such properties shall be used in calculating the general state school
aid formula provided for in Section 163.031 RSN10., until such
time as all redevelopment costs have been paid as provided for in
[his section and Section 99.850.
(ii) ir. addition to the payments in Lieu o`taxes described in Section 99.845.1(2]
of the Act, nc~ total additional revenues from taxes generated by economic
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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 State Revenues generated
within a Redevelopment Project Area as provided in Section 99.845.4-.12
of U;e Act shall be allocated as set forth in Section 99.845.4-.12 of the Act.
Passed this day of November, 1999.
Ron Super, Chairman
ATTEST:
Ann Daniels, Secretarv
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1 ;~ J E%HIBLT A TO RESOLDTIUN 99-11-01
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l ~L'77~+r : (1~J.iL.,U) 100 U SC 100 LOO
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( IN F'Ec, C }
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LEGAL DESCRIPTION
CONTAINING 661,934 SQ. FT. OR 15-1959 ACRES
f00
A TRACT OF LAUD BEING PART OF LOTS 1 AIv'D 2, pA:?TZTIOI3 PLAT OF GEORGE
RCBERTS ESTATE, A SUBDI`TISION IN PLATTE COUNTY, MISSOURI, BEING DESCRIBED
AS FOLLOWS: BEGINNING AT A POINT ON THE EAST LINE CF SAZD LOT 2, SAID
POINT BEING N 00°-15'-18" E, ALONG THE EAST LIP]E OF SAID LOT 2,
1637.63 rFEET FROM THE SE CORNER OF SAID LOT, SAID POINT ALSO BEING THE
NE CGR.*7c,R OF A 50,00 FOOT EXCEPTION AS DESCRIBED IN A DOCUMENT RECORDED IN
BOOK 0748 A^_' PAGE 418; THENCE N 89°-28'-17" P7, PARALLEL WZTH THE SOUTH
LINE OF SAID LOTS 1 AND 2, 567.35 FEET TC A LINE THAT IS 21.21 FEET WEST
GF iih~ PARALLEL WITH THE EAST LINE OF A TRACT RECORDED IN BOOK 1C1 AT
=AGE 20C; T:-[ENCE N 00°-18'-50" E, ALCNG SAID LINE, 1286.90 FEET; THENCE
S 89°-41'-10" E, 21.21 FEET TO THE EAST LINE OF SAID TRACT; THENCE
S 00°-18'-50" W, ALONG SAID BAST LINE, 2.06 FEE.; THENCE S 65°-27'-44" E,
PARALLEL WITH THE SOUTHERLY RIGHT-CF-WAY LINE OF THE BURLINGTON NORTHER_V
RAILROAD, 597.69 FEET (DEED = 602.8 FEET) TO A POINT ON THE EAST LINE OE
SAID LOT 2, SAID POINT BEING S 00°-15'-18" W, 216.00 FEET FROM: THE
Ii1TEP.5ECTiON OF SAT_D LINE WITH THE SOUTHERLY RIGHT-OF-WAY LLNE OF SAID
P.AILRCAD; THENCE S 00°-15'-18" W, ALONG THE EAS'^ LINE OF SAID LOT 2,
1041.72 FBET TO THE POINT OF BEGINNING, SUBJECT TO T1iAT PART ON THE EAST
N04+' BEING USED FOR THE RIGHT-OF-WAY OF MATTOX ROAD.
NOTE: T'rIE ABOVE DESCRIPTION IS THE SAME TRACT OF LAND CONL'EYED BY A
47A.RP.A,YTY DEED RECORDED Ii7 BCOK 748 AT PAGE 418, CORRECTION WARRAN'T'Y DEEDS
R3C:iRDB:. IN BOOK. 754 AT PACES 452, 453, RND 455. AND QUIT CLAIM DEEDS
R3CORDED IN BCOK 754 AT PAGES 451, 455, AND 457.
E:X}lIB1T B TO BESOLIITZON 99-11-01
APPLICATION RELATED TO TAX L^ICRE.~NT FINA.YCING FOIL
THE I: 385 LEVEE PROJECT
APPLICAI~7T Knaopco Coraoration
ADDRESS: 4304 Mattox Road
P?dONH T:
FAX ;~ (816) 741-1061
CCNTACTPI..R,SOV: john Anderson
Please answer*.he foGowinq questions (if additional space is needed, please attached information):
1) Describe the proposed ; roject, including its nature, size, swpe and phasing (including
projected~mp:etiondatej: Construction of a 30,OOG sg~»ra font- a~ditzon
to the existing 60,000 square foot Knappco budding to bP
completed by Novetrber, 1999_
(2) Identify the owner of the real estate upon which the proposed project would be constructed:
Knappcc CcLparat.on
(3;~ Defiae the boundaries of such real estate by address: 4304 Mattox Road ,
Riverside, Missouri 64150 Attacha
map/sketch of the ar,,a and a It:gal descr-i~tion of the property. (at taehed )
(4) Provide the Pane Courny Tax Panel Number for the property:
23-30-06-OOU-000-046-000
(~l Provide estimated cost of the proposed project (real property-bu>7dings, itrtprovetaents~ etc.
portion only-pct pe~anal property): $1 , 600 , 000 , 00
(5) Will the proposed project gernernte retail sales? No If yes, provide estimate of
annual retail sales subject to sales tax:
(^,) Wall portions of the proposed project be leased? NO If yes, please identify all
~_enarrLs
(3) Provide the aumber of current arll-time emplo}'ees 8 o and part-time employees
0 employed on the development site prior to this project and an estimate of
the number of additional full-time employees 49 and pa.~t-time employees
0 due to the proposed project.
*L proposed project is an addition to a currently existing facility, please provice information
reiaunR to the new addition only.
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!Z 33 GRAPHIC SCALE
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?TES
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( L*7 F'E'ET }
L 'inch 100 [tâ
LEGAL DESCRIPTION:
ONTALNZNG 601,934 SQ. FT. OR 15.1959 ACRES
A TRACT OF LAND BEING PART OF LOTS i AND 2, PARTITION PLAT OF GEORGE
ROBE32TS ESTATE, A SUBDIVISION ZN PLATTE COUNTY, NIISSOURI, BEING DESCRIBED
AS FOLLOWS: BEGINNING AT A POINT ON TAE EAST LINE OF SAT_D LOT 2, SAID
POINT BEING N 00°-15'-i8" E, ALONG THE EAST LINE OF SAID LOT 2,
L537.68 FEET FROM THE SE CORNER OF SAID LOT, SAID POINT ALSO BEING THE
NE COFL'4ER OF A 50.00 FOOT EXCEPTIOAT AS DESCPIBED IN A DOC?JMENT RECORDED IN
300K 0748 AT PAGE 418; THENCE N 89°-28'-17" 47, PARALLEL WITH THE SCUTFi
L_N3 OF SAID LOTS 1 AND 2, 567.35 FEET TO A LINE THAT IS 21.21 FEET WEST
OF AND PARALLEL WITH T:i.:~ E?ST LINE OF A TRACT RECORDED IN BOOK 101 AT
PAGE 200; THENCE N 00°-18 -50" E, ALONG SAID LINE, 1286.90 FEET; THENCE
S 89`-4.'-10" E, 21.21 FEET TO T'3E EAST LINE OF SAID TRACT; THENCE
S 00°-18'-SO" W, ALONG SAID EAST LINE, 2.06 FEET; 'I'F~=ENCE S 65°-27'-44" E,
PAP.AI.LEL WLTH THE SOUTHERLY RIGHT-CF-WAY LINE OF THS BliRLINGTON NORTHERN
RAILROAD, 597.53 PEET (DEED = 602.& FEET] TO A POINT ON THE EAST LINE OF
SAD LOT 2, SAID POT_NT BEING S 00°-15'-18" W, 2i6.C0 FEET FRO`d THE
INTERSECTION OF SAID LINE WITH THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID
RAILROAD; T'dENCE S 00°-15' -18" W, ALONG 'T'HE EAST LINE OF SAID LOT 2,
10;1.72 FEET TO TF-iE POI2I'I' OF BEGINNING, SUBJECT TO ';'HAT PART ON THE EAST
NOW BEING :iSED FOR THE RIGHT-OF--WAY OF MATTOX ROAD.
NOTE: _riE A3CVE DESCRIPTION IS THE SAID TRACT O? LPSID CONVEYE7 BY A
WA.KRANI": DEED RECCF~7ED SN BOOK 748 AT PAGE 4i3, CORRECTION WAR_4ANI'Y DEEDS
RC^vRDED IN 3COK 754 AT PAGES 452, 453, AND 455, AND QUIT CLAIM DEEDS
RECORDED IN BOOK 754 AT PAGES 451, 456, AND 457.
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