The URL can be used to link to this page

Home My WebLink About1999 - 34 - Amendments to the L-385 Levee Redevelopment Plan - Full BiLL NO. �19- 3� ORDINANCE NO. �� ', � AN ORDINANCE APPROVING AMENDMENTS TO THE L-385 LEVEE REDEVELOPMENT PLAN' (TFIE "PLAN") IIVCLUDING APPROVING AN INCREASE IN THE SIZE OF THE REDEVELOPMENT AREA, INCREASING REIII�IBURSABLE PROJECT COSTS RELATED TO REDEVELOPII�NT PROJECT I(L-385 LEVEE), APPROVING THE INCLUSION OF THE REDEVELOPII�NT PROJECT I-PHASFS G, H AND I WITHIN TAE PLAN; APPROVING THE DESIGNATION OF THE REDEVELOPII�NT PROJECT I-PHASES G, H AND I AREAS; APPROVING THE ADOPTION OF TAX . INCREMENT FINANCING FOR TI� REDEVELOPMENT PROJECT I-PHASES G, H AND I AREAS TO PROVIDE FUNDS FOR REDEVELOPMENT PROJECT I; APPROVING TAE CONSTRUCTION AND REIl�IBURSEMENT OF AND TAX INCREMENT FINANCING FORADDITIONAL PUBLIC WORKS CONSISTING OF AN INTERCHANGE AND ROAD IMPROVEMENTS AS REDEVELOPMENT PROJECT II AND ESTABLISHING AN ORDER OF PRIORITY. WHEREAS, the T� Increment Financing Commission of Riverside, Missouri ("TIF Commission") was created pursuant to Ordinance No. 95-64, adopted by the Boazd of Aldermen of Riverside, Missouri (the "Board") on September 12, 1995. WHEREAS, the Real Property Tax Increment Alloca6on Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, as amended (the "Act"), requires the 'I'IF Commission to: (a) hold hearings wi[h respectto proposed redevelogment areas, redevelopment plans -.� and redevelopment projects; (b) vote on the approval of the same; and (c) make its recommendations on the same to the Boazd. WI�REAS, 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 Projact I Area werc originally approved by the Boazd pursuant to Ordinance No. 96-72 passed on July 16,1996 after rocommendation of same by the TIF Comcnission pursuant toResoluUon No. 96- 06-01 passed on June 27, 1996. WI-IEREAS, additional phases of Redevelopment Project I have been recommended by the 'T�Commission,byResolutionNos.96-06-01,97-01-02.97-01-03,97-01-04,97-08-01and98-04- , 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 L WHEREAS, the purpose of the Plan, redeveloping the Redevelopment Area, wiA be substanually assisted through Redevelopment Project I, the L.evee Ptoject. WHEREAS, the Redevelopment Project I is undertaken in cooperation with the Riverside- Quindaro Bend Leveebistrict of Platte County, Missouri ("L.evee District"). ' � `The defined term rhe "Plan" shall mean and include the L-385 Levee Redevelopment Plan � as amended and suppiemented. Terms used herein but not defined in this-0rdinance 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. 7 WHEREAS, the Redevelopment Area includes only a pottion of the property within the boundaries of the Levee District. WHEREAS, it is desirable to increase the boundaries of the Redevelopment Acea to include addiuonal 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 Pmject I has been moving forwazd and it is now desirable to more fully detail the Reimbursable Project Costs associated with it. WHEREAS, the Ir385 Tntergovemmental Agreement between the City, t6e T'IF Commission and the Levee District, Platte County, Missouri, MDFB and Trillium relaung to implementation of che Financing Plan anticipated that the Plan wouid be amended to set forth an order of priority for the use of TIF Revenues and to facilitate Redevelopment Project II. WHEREAS; the TTF Commission has received and reviewed a Tax Increment Financing Application from Indusuial Spring Corporation regazding the construcdon of an 11,000 squaze foot building addition project (the "Redevelopment Project I-Phase G") within the RedevelopmentArea, and on a ttact of property more particulazly deseribed on attached Exhibit 1-G (fhe "Redevelopment , Pmject I-Phase G Area'). (A copy of the Applicauon is attached as Exhibit 1-G.) WHEREAS, the T'IF Commission has .received and reviewed a Tax Increment Financing Applicadon from Mazk S. Jansen Revocable Trust regazding the construction of a 3'7,000 square Poot warehouse project (the 'Redevelopment Ptoject I-Phase H") within the Redevelopment Atea, and on a uact of property more particulazly described on aftached Exhibit 1-H (t6e "Redevelopment Project I-Phase H Area"). (A copy of the Applicadon is attached as Exhibit 1-H.) WHEREAS, the TIF Commission has received and reviewed a Tax Increment Financing Application from Southwestem Bell Wireless 1nc. regarding the consuuction of a tower and shelter (the "Redevelopment Project I-P6ase I") within We Redevelopment Area, and on a tiact of property more pazticulazly described on attached Ex 'bit 1- (the "Redevelopment Project I-Phase I Area"). , (A copy of the Application is attached as Exhibit 1-IJ WHEREAS, proper notice of t6e pubic hearing on the Amendments to the Plan was given by publication and mailing as required by the Act. WHEREAS, the TTF Commission held a public hearing in conformance with the Act on 141arch 18,1999, which hearing was continued on Apri17,1999, and during each part of such hearing heazd 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 designadon 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 KIVERSIDE, MISSOURI: Section 1. The Plan and all amendments to the Plan in Ordinance Nos. 96-�2, 97-11, 97- 12, 97-13 and 97-95 are raufied, approved and confirmed; the recommendations of the TIF Cotnmission set forth in its Resolution No. 99-3-1 are hereby accepted; the Amendments to the Plan and the amended Exhibits I, 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 T'IF 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 thar. a. The Redevelopment Area, including Itedevelopment 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. T'hese conditions include undeveloped vacant ground which lacks adequate sueet layout, insanitary or unsafe condidons, deterioration of improvements, improper platting and the existence of condidons 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, ineluding the Redevelopmeat Project I P6ase. G Area, Redevelopment Project I-Phase H Area and Redevelogment Project I-Phase I Area, and the expanded Redevelopment Area have not b�en subject to growth and development through investment by private entecprise and would noE 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, wtuch 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 relceated due to these three phases; provided, however, a plan has been � _3_ developed and included in the Plan for the relocation assistance of businesses and residences. T ection 3. The Boazd approves and designates the Redevelo.pment Project I-Phase G Area, Phase H Area and Phase I Area, each as a redevelopment project azea under the Act. Section 4. The Board approves the inclusion of the Expanded Redevelopment Area, the Redevelopment Project I-Phases G, H and I as phases of Redevelopment Project I and the Redevelopment Project II within the Plan and expects to adopt additional specific redevelopment project(s) and redevelopment project azea(s) within the Redevelopment Area, as expanded, on a project-by-project basis. Section 5. The Boazd adopts tax increment financing for the following phases of - Redevelopment Project I: Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase ` H Area and Redevelopment Project I-Phase I Area; and for Redevelopment Project II; and provides that: (i) after the total equalized assessed valuation of the taxable real property in the Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H Area and Redevelopment Project I-Phase I Area, respectively, exceeds the certified rotal inidal equalized assessed valuation of the taxable real property in such Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H Area and Redevelopment Project I-Phase I Area, respectively, the ad valor¢m taxes aad payments in lieu of � taxes, if any, arising from the levies upon taxable real property in such Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H Area and Redevelopment. . Projeet I-Phase I Area, respectively, by taxing districts and tax mtes deternuned in We manner provided in subsecdon 2 of the Section 99.855 of the Act eachyeac after the effective date of this ordinance until the Redevelopment Project Costs pursuant to the Plan, as amended, have been paid, shall be divided as follows: (a) That portion of taaees levied upon each taxable lot, block, tract, or parcel of tr,al property wluch is attributable to the initial equalized assessed value of each such tauable lot, block, tract, or pancel of real property in tl�e . Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H, Area and Redevelopment Project I-Phase I Area, respectively, shalt be allocat+ed to, and when collected shall be paid by We county collector to, the respective affected taxing districis in the manner required by law in the absence of the adopuon of tax increment allocation financing; (b) Payments in lieu of taxes attributable to the increase in t6e curtent equalized assessed valuaaon of each taxable lot, block, tract, or parcel of real propecty _ in the Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H Area and Redevelopment Project I-Phase I Area, respecdvely, over and above the initial equalized assessed value of each such unit of property in the Redevelopment Project I-Phase G Area, Redevelopment Project I-Phase H - . �_ Area and Redevelopment Project I-Phase I Area, respectively, shall be allocated to, and when collected shall be paid to, the municipal treasurer who � shall deposit such payment in lieu of tvices into a special fund called the "Special Alloca6on Fund" of the municipality for the puipose of paging redevelopment costs and obligations incwred 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 � pmvide for the collection of payments in lieu of taxes, the lien of wtuch may be foiieclosed in the same manner as a spe,cial assessment lien as provided in Section 88.861 RSMo. No part of the current equalized assessed valuation of each lot, block, tract, or pazcel of property in the Redevelopment Project I-Phase G Area, Phase H Area and Phase I Area, respectively, attributable to � any increase above the total initial equalized assessed value of such respecdve _ properties shall be used in calculating the general state school aid formula provided for in Secdon 163.031 until such time as all redevelopment costs have been paid as provided for in this secdon and Section 99.850. (ii) in addition to the paymenu in lieu of taxes described in Secuon 99.845.1(2) of the Act, the total additional revenues from taxes generated by economic aedvities in a Redevelopment Ptoject 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 inlieu of taxes described in Section 99.845 _1(2) of the Act and the economic activity taxes described in Secdon 99.8453 of the Act, the total additional revenues from New State Revenues generated within a Redevelopment Projecf 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. Secdon 6. The Plan as amended hereby shall remain in fiill force and effect as to all its provisions. Section 7. This Ordidance shall take effect unmediately upon passage. : Adopted this � day of `7/ GZ , 1999. ____ AYOR A • �� , � � CLERK -5-