The URL can be used to link to this page

Home My WebLink About1999 - 12 - Agreement Related to the Collection and Remittance of TIF RevenuesBILL NO. ~~9-~ ORDINANCE NO. `~~~ ORDINANCE APPROVING THE COOPERATIVE AGREEMENT RELATING TO COLLECTION AND REMITTANCE OF TIF REVENUES IN CONNECTION WITH THE L-385 REDEVELOPMENT PLAN; AND ACTIONS RELATED THERETO. WHEREAS, the Tax Increment Financing Commission of Riverside, Missouri has recommended and the City has approved the L-385 Levee Redevelopment Plan (the L-385 Levee Redevelopment Plan as now and hereafter amended is referred to as the "Plan"); and WHEREAS, it is desirable for the parties to enter into a Cooperative Agreement ("Agreement") to set forth the procedures which will control the timing of and the manner in which Payments in Lieu of Taxes and Economic Activity Taxes will he collected by the County and paid to the City. NOW, THEREFORE, BE IT ORDAINED by the Board of Aldermen of the City of Riverside, Missouri; Section 1. The Agreement, in substantially the form attached as Exhibit A, is approved. Section 2. The Mayor, City Clerk and other officers are authorized and directed to execute the Agreement with such changes as such officer shall approve, execution of such document being conclusive proof of such approval. Each officer is authorized and directed to perform all acts and execute any other documents necessary or desirable to effectuate the intent of this Ordinance. Section 3. This Ordinance shall be in full force and effect from and after its passage and approval. ADOPTED this ~~ ~~ day of Februa 99. i ..AYOR ATTEST: C~ ~ ~_~ .~ ~ ~ . , ~ %r ~~ CC~RK cO®PERATI'VE AGItEEM~NT This Agreement is made and entered into this ~= day of ,~i , 1999, by and between Platte County, Missouri (the "County"),and the City of Riverside, Missouri (the "City"). A. Pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1997, as amended (the "Act"), the Tax Increment Financing Commission of Riverside, Missouri ("TIF Commission")was created pursuant to Ordinance No. 95-64, adopted by the Board of Aldermen of the City on September 12, 1995. B. The TIF Commission has recommended and the City has approved the L-385 Levee Redevelopment Plan (the Ir385 Levee Redevelopment Plan as now and hereafter amended is referred to as the "Plan"). C. The City and the County desire to set forth in this Agreement procedures which will control the timing of and the manner in which Payments in Lieu of Taxes and Economic Activity Taxes will be collected by the County and paid to the City to be deposited in the Special Allocation Fund pursuant to the Plan. 1. Purpose of Agreement. This Cooperative Agreement is entered into between the parties pursuant to the provisions.of Sections 70.210 through 70.230 RSMo: 1:997, as amended, for the - - purpose of fostering cooperation in the calculation, collection and disbursement of Payments in Lieu of Taxes collected by the County Collector and Economic Activity Taxes collected by the County Treasurer both with regard to the Plan. 2. Adoption of Tax Increment Financing. Immediately after the City approves a redevelopment project in connection with the Plan and adopts tax increment financing for the corresponding redevelopment project area, the County Assessor shall certify the total initial equalized assessed value of such redevelopment project area. 3. Payments in Lieu of Taxes. Following the approval of tax increment financing for a redevelopment project area by the City, for as long as such redevelopment project area is subject to tax increment fmancing, Payments in Lieu of Taxes shall be determined, collected and remitted by the County in accordance with the following procedures: The County Assessor shall determine the assessed value of such redevelopment project area without regazd to tax increment financing. The County Collector shall collect sums due from real property within such redevelopment project area in accordance with the current equalized assessed valuation and tax levies in effect for each year. The amount collected during each month which represents Payments in Lieu of Taxes shall be paid to the City by the County Collector by the 15'~ day of the following month. 4. ~tatutoril~Required Fees. To the extent required by law, the County Collector shall withhold the then applicable Section 52.260 statutory Collector's commission and the then applicable Section 137.720 statutory Assessor's commission (collectively, the "Statutory Fees") from the remittance of the Payments in Lieu of Taxes to the City. The Statutory Fees so withheld shall be delivered by the County Collector to the County Treasurer. On the date hereof, the Collector's statutory commission is one percent and the Assessor's statutory commission is'/z percent for a total of one and one-half percent of total Payments in Lieu of Taxes collected. If the General Assembly shall increase or decrease the applicable percentages of Statutory Fees, the County shall so notify the City. 5. Economic Activi , Taxes. Following the approval of tax increment financing for a redevelopment project azea, for as long as such redevelopmentproject area is subject to tax increment financing, Economic Activity Taxes shall be determined, collected and remitted by the County in accordance with the following procedures: The City shall notify the County of the nature and amount of Economic Activity Taxes payable to the City. The County Treasurer shall, within thirty (30) days 2 of receiving the notification or within thirty (30) days after actual receipt of such Economic Activity Taxes, whichever is later, pay the amount of Economic Activity Taxes actually received to the City. 6. Term. This Cooperative Agreement shall cover the 1998 calendar year and each and every year thereafter until the Plan is terminated, and is effective upon execution of this Agreement by the officials designated by County and City. 7. Amendments. This Agreement may not be amended or modified except by a written instrument signed by both the City and the County. The City and the County agree to modify the procedures set forth in this Agreement as may be needed to meet the specific needs of the Plan, applicable amendments to the Act, policies or rules adopted by the Missouri Department of Revenue, or court orders or ruling affecting the procedures set forth in this Agreement. 8. Severability. If any provision of this Agreement is held to be invalid, illegal or unenforceable, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. 9. Conflict. If any provision of this Agreement conflicts with the Act and the Act and such provision cannot be reconciled, the Act shall control. 10. Interpretation. Where required for proper interpretation, words in the singular shall include the plural, and words of any gender shall include all genders. The descriptive headings of the articles and sections of this Agreement are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement. 11. Waiver. No waiver by either party of any of its rights or remedies under this Agreement shall be considered a waiver of any other or subsequent right or remedy. No waiver by either party of any of its rights or remedies under this Agreement shall be effective unless evidenced by a written instrument executed by the waiving party. 3 IN WITNESS WHEREOF, this Agreement is executed the date noted after the respective signatures of the parties. PLATTE COUNTY, MISSOURI BY: L ~ ~, ~ Diza Eskrid , 2°d District Co 'ssioner ATTES'?': Coun Clerk DATE: ~fxC'r~ S~ ~99~ STATE OF MISSOURI ) SS. COUNTY OF ) On this `'``'day of /f'~llit-Gk-- in the year 1999, before me, a Notary Public in and for said State; .personally appeared _ Betty Knight, - Michael- Short, Diza -Eskridge, . and SA rid RA S • KRohaE ,Commissioners and County Clerk for Platte County, Missouri, respectively, who are personally known to me to be the same persons who executed the within instrument on behalf of said County and such persons duly acknowledged to me that they executed the same for the purposes therein stated and that the execution of the same to be the free act and deed of said County. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year above written. -, ~ ` ~- ~ . ~t Notary Pub c ~ My Commission Expires: j ~~(; I, ~} 4 Michael Short, 1~` District Commissioner BY: ATTEST: ;, ~ -,. ` ~ Louise Rusick, City Clerk '~ ' ~~ ~: ; DATE: `% < , / ~ , ;' i i i STATE OF MISSOURI ) ~ SS. COUNTY OF ) ~ l :/: On this ~~_ day of ~e'i, , C ~~r: ~~ ~ in the year 1999, before me, a Notary Public in and for said State, personally appeared Ed Rule and Louise Rusic~C, Mayor and City Clerk, respectively, of the City of Riverside, Missouri, who are personally known to me to be the same persons who executed the within instrument on behalf of said corporation and such persons duly acknowledged to me that they executed the same for the purposes therein stated and that the execution of the same to be the free act and deed of said corporation. I IN TESTIMONY WHEREOF, I have hereunto set i y hand and affixed my official seal, the day and year above written. ~ Notary Public'; -. _ _ . _._ . _.. _ _ _ My Commission Expires ,~;,~ ~ ~%,!~~ ~ ~~ LOUISF F. RUSICK Notary Public-Notary Seal State of Missouri Platte County My Coc~~rn;uion Expires Aug. 2? 20C'~ ~.^