HomeMy WebLinkAbout1997-010 - Amendments to the L-385 Levee Redevelopment PlanBII,L y7-~0
ORDINANCE C~7 ~~
ORDINANCE ACCEPTING THE RECOMMENDATION OF THE TAX INCREMENT
FINANCING COMMISSION OF RIVERSIDE, MISSOURI TO AMEND THE L-385
LEVEE REDEVELOPMENT PLAN (THE "PLAN") TO CHANGE DEFINED TERMS
RELATING TO THE PLAN
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, 1986, 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;
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 Commission, by Resolution No. 97-01-01, passed on January 15, 1997,
approved the amendments and recommended that the City approve the same.
NOW, THEREFORE, be it ordained by the Board of Aldermen of Riverside, Missouri:
Section 1. The recommendations of the Commission set forth in its Resolution No.
97-01-01 are hereby accepted.
Section 2. To clarify that the Argosy Project is the first phase of the Levee Project,
the Commission approves the amendment of the Plan to redefine the Argosy Project as
"Redevelopment Project I-Phase A," and the Levee Project as "Redevelopment Project I." A
redlined copy of the Plan is attached as Exhibit A. This amendment in no way affects the
Commission's or the City's approval of the Argosy Project and the Levee Project as
Redevelopment Project I.
J:\61492\00001 \PLANAMD.ORD
Passes this 4th day of February, 1997.
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CITY CLERK
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