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Home My WebLink About1999-12-01 TIF Commission ResolutionRESOLUTION NO. 99-12-O1 RESOLUTION OF THE TAX INCREMENT FINANCING COMMISSION OF RIVERSIDE, MISSOURI ("COMMISSION") APPROVING THE INCLUSION OF THE REDEVELOPMENT PROJECT I-PHASE J WITHIN THE L-385 LEVEE REDEVELOPMENT PLAN, AS AMENDED ("PLAN"); APPROVING THE DESIGNATION OF THE REDEVELOPMENT PROJECT I-PHASE J AREA; APPROVING THE ADOPTION OF TAX INCREMENT FINANCING FOR THE REDEVELOPMENT PROJECT I-PHASE J AREA; AND EXPRESSING ITS RECOMMENDATIONS TO THE BOARD OF ALDERMEN OF RIVERSIDE, MISSOURI WITH RESPECT TO THE SAME WHEREAS, the 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, 1994, 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 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 designated it as a redevelopment area under the Act; approved the Plan, the Redevelopment Project I and the Redevelopment Project I Area; adopted tax increment financing for the Redevelopment Project I Area; and expressed its recommendation to the Board of Aldermen with respect to the same; and WHEREAS, the Board of Aldermen, by Ordinance No. 96-72, passed on July 16, 1996, classified the Redevelopment Area as a "blighted area" and designated it as a redevelopment area under the Act; approved the Plan, the Redevelopment Project I and the Redevelopment Project I Area; and adopted tax increment financing for the Redevelopment Project I Area; which designation provides for the approval of individual projects on aproject-by-project basis; and WHEREAS, the Board of Aldermen has approved subsequent amendments to the Plan after recommendations by the Commission, including Redevelopment Project I-Phases A, B, C, D, F, G, H and I; WHEREAS, the Commission has received and reviewed a Tax Increment Financing Application from Knappco Corporation regarding the construction of a 30,000 square foot addition to the existing 60,000 square foot building (the "Redevelopment Project I-Phase J") within the Redevelopment Area, and on a tract of property more particularly described on attached Exhibit A (the "Redevelopment Project I-Phase J Area"). (A copy of the Application is attached as Exhibit B.) NOW, THEREFORE, BE IT RESOLVED by the Tax Increment Financing Commission of Riverside, Missouri; 1. The Commission has previously found that: a. the existing conditions of the Redevelopment Project I-Phase J Area, as described in Exhibit A, 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 Redevelopment Project I-Phase J Area 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 Plan; c. the Plan, as amended, conforms to the comprehensive plan for development of the City of Riverside, Missouri as a whole; d. the estimated dates, which shall not be more than 23 years from the adoption of the respective ordinances approving the Redevelopment Projects, of completion of the Redevelopment 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 Redevelopment Project I-Phase J Area which will be required to be relocated due to Phase J. 2. The Commission approves 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. 4. The Commission approves the inclusion of the Redevelopment Project I-Phase J 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 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. b. Approving the inclusion of the Redevelopment Project I-Phase J within the Plan. c. Approving tax increment financing for the Redevelopment Project I-Phase J Area and providing that: (i) after the total equalized assessed valuation of the taxable real property in the Redevelopment Project I-Phase J Area exceeds the certified total initial -2- equalized assessed valuation of the taxable real property in such Redevelopment 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 Project I-Phase J Area 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, tract, or parcel of real property in the Redevelopment Project I-Phase J 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 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 J Area over and above the initial equalized assessed value of each such unit of property in the Redevelopment Project I-Phase J Area 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 J Area attributable 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 RSMO., 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 -3- 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 the Act shall be allocated as set forth in Section 99.845.4-.12 of the Act. Passed this /.~" day of December, 1999. ~, `nom ~%~ Ro Super, Chair ~an ATTEST: ~. Ann Daniels, Secretary -4- n 1/4, -R 33 ~NUMENT (HELD) 4f T7ES EXHIBIT A TO RESOLUTION 99-11-01 GRAPHIC SCALE io° ° so ioo zoo ( IN FEET ) 1 inch = 100 ft LEGAL DESCRIPTION CONTAINING 661,934 SQ. FT. OR 15.1959 ACRES A 'T'RACT OF LAND BEING PART OF LOTS 1 AND 2, PARTITION PLAT OF GEORGE ROBERTS ESTATE, A SUBDIVISION IN PLATTE COUNTY, MISSOURI, BEING DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE EAST LINE OF SAID LOT 2, SAID POINT BEING N 00°-15'-18" E, ALONG THE EAST LINE OF SAID LOT 2, 1637.68 FEET FROM THE SE CORNER OF SAID LOT, SAID POINT ALSO BEING THE NE CORNER OF A 50.00 FOOT EXCEPTION AS DESCRIBED IN A DOCUMENT RECORDED IN BOOK 0748 AT PAGE 418; THENCE N 89°-28'-17" V1, PARALLEL WITH THE SOUTH LINE OF SAID LOTS 1 AND 2, 567.35 FEET TO A LINE THAT IS 21.21 FEET WEST OF AND PARALLEL WITH THE EAST 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°-41'-10" E, 21.21 FEET TO THE EAST LINE OF SAID TRACT; THENCE S 00°-18'-50" W, ALONG SAID EAST LINE, 2.06 FEET; THENCE S 65°-27'-44" E, PARALLEL WITH THE SOUTHERLY RIGHT-OF-WAY LINE OF THE BURLINGTON NORTHERN RAILROAD, 597.69 FEET (DEED = 602.8 FEET) TO A POINT ON THE EAST LINE OF SAID LOT 2, SAID POINT BEING S 00°-15'-18" W, 216.00 FEET FROM THE INTERSECTION OF SAID LINE WZTH THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID RAILROAD; THENCE S 00°-15'-18" W, ALONG TILE EAST LINE OF SAID LOT 2, 1041.72 FEET TO THE POZNT OF BEGINNING, SUBJECT TO THAT PART ON THE EAST NOW BEING USED FOR THE RIGHT-OF-WAY OF MATTOX ROAD. ~10TE: THE ABOVE DESCRIPTION IS THE SAME TRACT OF LAND CONVEYED BY A WARRANTY DEED RECORDED IN BOOK 748 AT PAGE 418, CORRECTION WARRANTY DEEDS RECORDED IN BOOK 754 AT PAGES 452, 453, AND 455, AND QUIT CLAIM DEEDS RECORDED IN BOOK 754 AT PAGES 451, 456, AND 457. EXIIIBIT B TO RESOLUTION 99-11-0] APPLICATION RELATED TO TAX INCREMENT FINANCING FOR THE L-385 LEVEE PROJECT APPLICANT: ADDRESS: PHONE #: FAX #: CONTACT PERSON: Knappco Corporation 4304 Mattox Road (816) 741-1061 John Anderson 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): Construction of a 30,000 sgna P foot ar7dition to the existing 60,000 square foot Knappco building to be completed by Novemher~ 1999 (2) Identify the owner of the real estate uponwhich the proposed project would be constructed: Knappco Corporation (3) Define the boundaries of such real estate by address: 4304 Mattox Road, Riverside Missouri 64150 Attacha map/sketch of the area and a l~al description of the property. (attached ) (4) Provide the Platte County Tax Parcel Number for the property: 23-30-06-000-000-096-000 (~) (6) (7) Provide estimated cost of the proposed project (real property-buildings, improvements, etc. portion only-not personal property}: $1 6 0 0, 0 0 0 .0 0 *. Will the proposed project generate retail sales? annual retail sales subject to sales tax: Will portions of the proposed project be leased? No tenants: (8) Provide the number of current full-time employees 88 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 part-time employees 0 due to the proposed project. If yes, please identify all No If yes, provide estimate of *If proposed project is an addition to a currently existing facility, please provide information relating to the new addition only. n -v 4, 33 ~ NT (HELD) GRAPHIC SCALE so ioo zoo u~I r~E•r ) 1 inch = 100 ft. LEGAL DESCRIPTION CONTAINING 661,934 SQ FT. OR 15.1959 ACRES w° A TRACT OF LAND BEING PART OF LOTS 1 AND 2, PARTITION PLAT OF GEORGE ROBERTS ESTATE, A SUBDIVISION IN PLATTE COUNTY, MISSOURI, BEING DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE EAST LINE OF SAID LOT 2, SAID POINT BEING N 00°-15'-18" E, ALONG THE EAST LINE OF SAID LOT 2, 1637.68 FEET FROM THE SE CORNER OF SAID LOT, SAID POINT ALSO BEING THE NE CORNER OF A 50.00 FOOT EXCEPTION AS DESCRIBED ZN A DOCUMENT RECORDED IN BOOK 0748 AT PAGE 418; THENCE N 89°-28'-17" FI, PARALLEL WITH THE SOUTH LINE OF SAID LOTS 1 AND 2, 567.35 FEET TO A LZNE THAT IS 21.21 FEET WEST OF AND PARALLEL WITH THE EAST 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°-41'-10" E, 21.21 FEET TO THE EAST LINE OF SAID TRACT; THENCE S 00°-18'-50" W, ALONG SAID EAST LINE, 2.06 FEET; THENCE S 65°-27'-44" E, PARALLEL WITH THE SOUTHERLY RIGHT-OF-WAY LINE OF THE BURLINGTON NORTHERN RAILROAD, 597.69 FEET (DEED = 602.8 FEET) TO A POINT ON THE EAST LINE OF SAZD LOT 2, SAID POINT BEING S 00°-15'-18" W, 216.00 FEET FROM THE INTERSECTION OF SAID LINE WITH THE SOUTHERLY RIGHT-OF-WAY LINE OF SAID RAILROAD; THENCE S 00°-15'-18" W, ALONG THE EAST LINE OF SAID LOT 2, 1041.72 FEET TO THE POINT OF BEGINNING, SUBJECT TO THAT PART ON THE EAST NOW BEING USED FOR THE RIGHT-OF-WAY OF MATTOX ROAD. iE: THE ABOVE DESCRIPTION IS THE SAME TRACT OF LAND CONVEYED BY A WARRANTY DEED RECORDED IN BOOK 748 AT PAGE 418, CORRECTION WARRANTY DEEDS RECORDED IN BOOK 754 AT PAGES 452, 453, AND 455, AND QUIT CLAIM DEEDS RECORDED IN BOOK 754 AT PAGES 451, 456, AND 457. ~'')~ v ~^ ~O I O ~~ O r~ O• T V r+ X ~ ~_ O \ ~. 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