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Home My WebLink About1999 - 34 - Amendments to the L-385 Levee Redevelopment Plan''l ~ "l BII.L NO. `t'S' - ~'f ORDINANCE NO. `i ~~ AN ORDINANCE APPROVING AMENDMENTS TO THE L-385 LEVEE REDEVELOPMENT PLAN' (THE "PLAN") INCLUDING APPROVING AN INCREASE IN THE SIZE OF THE REDEVELOPMENT AREA, INCREASING REIMBURSABLE PROJECT COSTS RELATED TO REDEVELOPMENT PROJECT I (L-385 LEVEE), APPROVING THE INCLUSION OF THE REDEVELOPMENT PROJECT I-PHASES G, H AND I WITHIN THE PLAN; APPROVING THE DESIGNATION OF THE REDEVELOPMENT PROJECT I-PHASES G, H AND I AREAS; APPROVING THE ADOPTION OF TAX INCREMENT FINANCING FOR THE REDEVELOPMENT PROJECT I-PHASES G, H AND I 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 Tax Increment Financing Commission of Riverside, Missouri ("TIF Commission") was created pursuant to Ordinance No. 95-64, adopted by the Board of Aldermen of Riverside, Missouri (the "Board") 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, as amended (the "Act"), requires the TIF 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. 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 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 Aldermen, 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 purpose of the Plan, redeveloping the Redevelopment Area, will be substantially assisted through Redevelopment Project I, the Levee Project. WHEREAS, the Redevelopment Project I is undertaken in cooperation with the Riverside- Quindaro Bend Levee District of Platte County, Missouri ("Levee District"). 'The defined term the "Plan" shall mean and include the L-385 Levee Redevelopment Plan as amended and supplemented. Terms used herein but not defined in this Ordinance shall have the meaning ascribed to such term in the Plan. WHEREAS, the Levee Project will be constructed throughout the portion of the Levee District located in Platte County, Missouri. WHEREAS, the Redevelopment Area includes only a portion of the property within the boundaries of the Levee District. WHEREAS, it is desirable to increase the boundaries of the Redevelopment Area to include additional properties within and about the boundaries of the Levee District located in Platte County, Missouri, as further described in the attached Exhibit 2 (the "Expanded Redevelopment Area"). 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 the Financing Plan anticipated that the Plan would be amended to set forth an order of priority for the use of TIF Revenues and to facilitate Redevelopment Project II. WHEREAS, the TIF Commission has received and reviewed a Tax Increment Financing Application from Industrial Spring Corporation regarding the construction of an 11,000 square foot building addition project (the "Redevelopment Project I-Phase G")within the Redevelopment Area, and on a tract of property more particularly described on attached Exhibit 1-G (the "Redevelopment Project I-Phase G Area"). (A copy of the Application is attached as Exhibit 1-G.) WHEREAS, the TIF Commission has received and reviewed a Tax Increment Financing Application from Mark S. Jansen Revocable Trust regarding the construction of a 37,000 square foot warehouse project (the "Redevelopment Project I-Phase H") within the Redevelopment Area, and on a tract of property more particularly described on attached Exhibit 1-H (the "Redevelopment Project I-Phase H Area"). (A copy of the Application is attached as Exhibit 1-H.) WHEREAS, the TIF Commission has received and reviewed a Tax Increment Financing Application from Southwestern Bell Wireless Inc. regarding the construction of a tower and shelter (the "Redevelopment Project I-Phase I")within the Redevelopment Area, and on a tract of property more particularly described on attached Exhibit 1-I (the "Redevelopment Project I-Phase I Area"}. (A copy of the Application is attached as Exhibit 1-L) WHEREAS, proper notice of the pubic hearing on the Amendments to the Plan was given by publication and mailing as required by the Act. WHEREAS, the TIF Commission held a public hearing in conformance with the Act on March 18, 1999, which hearing was continued on Apri17, 1999, and during each part of such hearing heard and considered all protests, objections and comments submitted by any interested persons and tax districts affected by the issues addressed at the public hearing. -2- WHEREAS, the TIF Commission adopted Resolution No. 99-3-1 on April 7, 1999, recommending the approval of the Amendments to the Plan, Redevelopment Project I-Phases G, H and I and the designation of the Redevelopment Project I-Phase G Area, Phase H Area and Phase I Area. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF RIVERSIDE, MISSOURI: Section 1. The Plan and all amendments to the Plan in Ordinance Nos. 96-72, 97-1 1, 97- 12, 97-13 and 97-95 are ratified, approved and confirmed; the recommendations of the TIF Commission set forth in its Resolution No. 99-3-1 are hereby accepted; the Amendments to the Plan and the amended Exhibits 1, 2, 4, 6, 7, 9, 11 and 12 to the Plan, all of which are attached as Exhibit 2 are approved; since Phase F is not located within the Redevelopment Area and no TIF Revenues have been or will be collected with respect to Phase F, Ordinance No. 98-41 which approved Phase F is hereby repealed; and the Plan is hereby amended in accordance with this Ordinance and such Amendments. Section 2. The Board finds that: a. The Redevelopment Area, including Redevelopment Project I-Phases G, H and I Areas, have been found blighted and the existing conditions of the Expanded Redevelopment Area described in the Plan, as amended, are a fair depiction of the Expanded Redevelopment Area and cause it to be a "blighted area" as defined in the Act. These conditions include undeveloped vacant ground which lacks adequate street layout, insanitary or unsafe conditions, deterioration of improvements, improper platting and the existence of conditions which endanger life or property so that the area is an economic and/or social liability with an inability to be property developed; b. the Redevelopment Area, including the Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H Area and Redevelopment Project I-Phase I Area, and the expanded Redevelopment Area have 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, as amended; 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, as amended; and e. there are no businesses within such Redevelopment Project I-Phase Areas which are required to be relocated due to these three phases; provided, however, a plan has been -3- f ,~,. ~ i'. ~z' >. ' l -~ CIT CLERK -5-