HomeMy WebLinkAbout1999 - 94 - Adoption of Redevelopment Project I-Phase JBILL NO.~ f ~ ORDINA_~iCE NO.
ORDINANCE ACCEPTING THE RECOMMENDATIONS OF THE TAX INCREMENT
FLYANCI~IG COtiLVIISSION OF RIVERSIDE, .LQSSOURI ("COMMISSION")
REGARDING THE L-385 LEVEE REDEVELOPMENT PLAN AND APPROVI`IG THE
INCLUSION OF THE REDEVELOPMENT PROJECT [-PHASE J WITHIN THE L-385
LEVEE REDEVELOPNiEiV'I' PL.Aii\1, AS A141EIVDED ("PLAN"); APPROVING THE
DESIG\ATION OF THE REDEVELOPI~LENT PROJECT I-PHASE J AREA; AND
APPROVING THE ADOPTION OF TAX INCREMENT FLVAt~ICL~IG FOR THE
REDEVELOPMENT PROJECT I-PHASE J AREA.
WHEREAS, the Cotnrrission was created pursuant to Ordinance No. 9~-64, adopted by
the Board of Aldermen of kiverside, Missouri (the "Board of Aidermen") on September 12, 1995 ;
WHEREAS, the Reai 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-Q6-O1, passed on June 27, 1996,
classified the Redeve]opment Area (as defincxi 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 redeveloprrtent 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 [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
reconunendations by the Cotmission, including Redevelopment Project I-Phases A, B, C, D, F,
G, H and I;
WHEREAS, the Commission received and reviewed a Tax Increment Financing
Application from Krrappco Corporation regarding the construction. of a 30,000 square foot addition
to the existing 60,OOC square foot building (the "Redevelopment Project I-Phase 7") within the
Redevelopment Area, and on a tract of property more particularly described on attached Exhi it
r, (the "Redevelopment Project I-Phase J Area"). (A copy of the Application is attached as
Exhibit B ;and
WHEREAS, the Ci~mnrission by Resoluticn 99-12-01 reaffirmed the classified of the
Redevelopment Project I-Phase J Area as a "blighted area" and its designation as a redevelopment
area under the Act; approved the Redevelopment Proiect I-Phase J and the Redevelopment Project
I-Phase J Area; adopted tax increment financing for the Redevelopment Project I-Phase J Area;
and expressed its recotnmendation to the Board of Aldermen with respect to the same; and
NOW, THEREFORE, BE IT ORDAINED by the Board of Aldermen of the City of
Riverside. Missouri:
section 1 The recomtnendations ofthe Commission set forth in its Resolution No. 99-
12-01 are hereby accepted.
Section 2. The Board of Aldermen has previously found attd hereby finds 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 arul would not reasonably
he anticipated to be developed without the adoption of the Plan;
c. the Plan_ as amended, conforms to she 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 oniinances 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 wilt be required to be relocated due to Phase J.
e t~ The Board of Aldermen 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.
Section 4. The Board of Aldermen has previously approved the Plan.
cti The Board of Aldermer, approves and designates the Redevelopment Project
I-Phase J and the Redevelopment Project I-Phase J Area as a redevelopment project and
redevelopment project area, respectively, under the Act.
Section 6. The Board of Aldermen adopts tax increment financing for the
Redevelopment Project I-Phase J Area and provides that:
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(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
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-Fhase J Area by taxing districts and tax
races 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 I 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 tinancing;
(b) Payments in lieu of taxes attributable to the increase in the current
equalized assessed valuation of each taxable loi, 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 mutticipal
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.
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(ii) in addition to the payments in lieu of taxes described in Section 99.845.1(2)
of ti'te 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 49.845.3 of
the Act.
(iii) in addition to the payments in lieu of [axes described in Section 99.845.1(2)
of the Act and the economic activity takes described in Section 99.845.3 of
tl:e 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.
Adopted this ~ day of Becember, 1999.
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EXHI3IT A TO RESOLOTION 99-11-01
GRAPHIC SCALE
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( L't FEEl' )
1 inch = 100 ~
LEGAL DESCRIPTION:
CONTAiNTNG 661,934 SQ
FT. OR 15.1955 ACRES
A TRACT OE LAND BEING PART OF IATS 1 AND 2, pA.?TITION PLAT OF GEORGE
ROBERTS ESTP.TE, A SUBDIVISION IId PLATTE COUN'T'Y, MISSOURI, BEING DESCRI9ED
AS FOLLOWS: BEGINNING AT A FOINT CN THE EAST :,IDiE OF SAID LOT 2; SAID
~~INT BEING N 00°-15'-18" E, ALGNG THE EAST LINE OF SAID LOT 2,
1637.68 FEET FROM THE SE CORlv'ER OF SAID LOT, SAID POINT ALSO BEING TH3
~tE CCP.*1ER CE A 50.00 FOOT EXCEPTION AS DESCRI9ED~ IN A DOCUMENT RECORDEG .N
BOCK 0748 AT PAGE 418; THENCE 1J 89°-28'-17" i7, PARALLEL WITH THE SOUT3
LINE OF SAID LOTS 1 AND 2, 567.35 FEET 'TO A LINE THAT IS 21.21 FEET WEST
CF AND PARALLEL WITH THE EAST LINE OF A TRACT RECORDED IN BOOK 101 AT
?AGE 200; THENCE N 00°-18'-50" E, AI~CNG SAID LINE, 1286.90 FEE^; THENCE
~ 8~°-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,
PARr1LLnL WITH THE SOUTHERLY RIGHT-OF-WAY L~NE OF THE BURLINGTON NORTHEF.N
RAILROAD, 597.69 FEET (DEED 602.8 FEET) TO A POINT ON THE EAST LINE GF
SAID LOT 2, SA:D 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'-IS" 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.
V0='E' T'r[E ABO'!E uESCRIPTION IS THE SAME TRACT CF LAND CONVEYED BY A
WARRANTY DEED RECORDED IN BOO}: 748 AT PAGE 418, CORRCTION WARP.ANTY DEEPS
RECORDED IN BCOFC 754 AT PAGES 452, 453, AND 455, AidD QUIT CLAiM DEEDS
RECORDED Ih BCC N. 754 AT PAGES 451, 45'0, Al+T) 45?.
EXHIBIT B
APPLICATION RELA'I'EU TO TAX INCRE.lfEh-I' FINANCLVG FOR
THE L-385 LVEE PROJECT
.4PPL.1C•~.~,'T _ Knapaco Corporation
ADDRESS: 4304 Mattox Road
PHOI~E$: _ (R"b) 741-6600
F:4.~g (816) 741-1061
C01\-PACT PF_R8(3\: John Anderson
Please answer the foLewinq questions (if addnional space is needed, please attached inTOrmauon):
(.) Descrbe the proposed project, including its naturti, size, scope and phasing (including
p:ojectedcompletiondate): Construction of a 30.000 sm~arF fcnr addition
to the existing 60,000 square foot Knappco building to hP
competed by Novemb~,L, 19x9
(2) Identify the owner of the real estate upon which the proposed project would be constructed:
Knapoco Corporation
!3) Define tl-z boundaries of such real estate by address: 4304 Mat tex Read
aiversi3e~ P1is~ouri 69150 Attach a
mapisketch of the area and a Ic;al description of the pro~terty. (attached )
(4) Provide the Platte County Tax Part;el Dumber for the property:
23-30-06-000-000-096-000
(3} Provide estimated cost of the proposed project (real property-buildings, imprrovements, etc.
aort:ononiy-not petsotraf property): ~1 , 600 , 000 .00 F.
5} Will the proposed project generate retail sales? No If yes, provide estimate of
annual retail sales subject to sales tax: '.
f 7) Will portions of the proposed p%ect be :eased? No If yes, please identify all
tenarrs:
(8) Provide the number of current full-tune employees 88 and par*.-tur:e employees
0 employed on the developrneni site prier to this project and an estimate of
the number of additional full tithe employees 4 9 and part-time employees
0 due to the proposed project.
*If proposed project is an addition to a cur_ently existing facility, please provide information
reladttg to the new addition onh;.
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3~ J GRAPHIC SCALE
1LefENT (XELU,i ~ ~ -o ~~+ zoo wo
7~5
(INF'O')
1 inch = 100 tt
LEGAL DESCRIPTION
CONTAINING 661,934 Sl FT. OR 23.1959 ACRES
A TRACT OF LAND BEING PART OF LOTS 1 AND 2, PARTITION PLAT OF GEORGE
ROSERTS ESTATE, A SLBDIVISION IN PLATTE COUNTY, MISSOURI, BEING DESCRIBED
AS FOLLOWS' BEGINNING AT A POINT ON THE EAST LINE OF SAID LOT 2, SAID
rGi~IT BtIVG 2v OC°-i~'-i~° ALGhG THc, ri~T i,iNE ur SAID i,GT 2,
167.68 FEET FROM THE SE CORNER OF SAID LOT, SAID POINT ALSO BEING THB
N3 CGR:7=.'R G? A 50.00 F00"' EXCEP'T'ION AS DESC2=EED IN A DCC*JM_°NT RECORDED IN
SGOK 0748 AT PAGE 418; THENCE N 99°-28'-17" 4t, PARALLEL WT-TH THE SOUTH
'..IN2 OF SAID LOTS 1 A2v~ 2, 567.35 FEET TO A LINE THAT IS 21.21 FEET WEST
OF AND PARALLEL WITH THE EAST LINE OF P. TRACT RECORDED IN BOCK I01 AT
2AGE 2G0; THENCE N 00°-l0'-50" E, ALCNG SAID LINE, 1286.90 FEET; THENCE
S 89°-41'-10" E, 21.21 FEET TC THE EP.ST LINE OF SAID TRACT; THENCE
S 00°-18'-50' W, ALONG SA.D EAST LINE, 2.G6 FEET; THENCE S 65°-27'-44" °
PRRF,LLEL '~IT7: THE SOUTHERLY RIGHT-OF-WAY LINE OF THE BJRLINGTON NORTHERN
RAILROAD, 597.69 FEET (DEED = 602.8 FEET) TU A POINT ON T'rIE EAST LINE OF
SAID LOT 2, SAID POINT BEING S 00°-15'-18" W, 2_6.00 FEET FROM. THE
INTERSECTION OF SAID TINE WIT'd THE SOUTfIERLY RIGHT.-OF-WAY LINE OF SAID
R%,ILRCAD; T?iENCE S 00°-15'-18" W, ALONG THS EAST LINE OF SAID LOT 2,
1041.72 FEET TO THE POINT OF BEGINNIP+G, SUBJECT' TO THAT PART ON THE EAST
NCW BEING USED FOR THE' RIGHT-vF-WAY OF MATTOX ROAD.
NOTE. :riE A9CVE JESCR=PTICN iS THE SAME TRACT OF LAND CONVEYED BY A
WFcR:-..tii`! REEL RECCRI)ED IN BOJIC 748 AT PAGc 418, CGRRECTICN WA_D.RANTY L`EEDj
REC7R.^ED IN BOOK 754 AT PAGES 452, 453, AND 455, AND QUIT CLAIM DEEDS
RECORD ED .N 3CCK 754 AT !=AGES 51, 455, AND 457.
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