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6798
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Last modified
1/4/2010 3:16:52 PM
Creation date
11/5/2014 12:26:01 PM
Metadata
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Template:
City Ordinances
Passed
12/7/2009
Ordinance Number
6798
Bill Number
9053
Introdate
11/16/2009
Description
Kingsland Walk Redevelopment Plan & Project
Introduced By
Mr. Wagner
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<br /> <br /> <br /> <br /> <br /> <br /> (3) the approval of the redevelopment project, as described in the Redevelopment Plan (the <br /> "Redevelopment Project");and <br /> WHEREAS, on September 2, 2009, after due deliberation, the TIF Commission adopted a <br /> resolution (attached as Exhibit A hereto) recommending that the City Council approve the Redevelopment <br /> Plan, designate the Redevelopment Area as a "redevelopment area" pursuant to the Act, approve the <br /> Redevelopment Project (including both the RPA-1 Redevelopment Project and the RPA-2 Redevelopment <br /> Project) and adopt tax increment financing within the Redevelopmet Area; <br /> <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br /> UNIVERSITY CITY, MISSOURI, AS FOLLOWS: <br /> <br /> Section 1: The City Council hereby makes the following findings: <br /> A. The Redevelopment Area on the whole is a "conservation area", as defined in <br /> Section 99.805(3) of the Act, and has not been subject to growth and development through <br /> investment by private enterprise and would not reasonably be anticipated to be developed without <br /> the adoption of tax increment financing and the Redevelopment Plan. This finding includes, and <br /> the Redevelopment Plan sets forth and the City Council hereby finds and adopts by reference: (i) a <br /> detailed description of the factors that qualify the Redevelopment Area as a "conservation area" <br /> and qualify the Redevelopment Project as a "redevelopment project" and (ii) an affidavit, signed <br /> on behalf of the Developer and submitted with the Redevelopment Plan, attesting that the <br /> provisions of subdivision (1) of Section 99.810 have been met. <br /> <br /> B. The Redevelopment Plan conforms to the comprehensive plan for the <br /> development of the City as a whole. <br /> C. The estimated dates of completion of the Redevelopment Project and retirement of <br /> obligations incurred to finance redevelopment project costs have been stated in the Redevelopment <br /> Plan and these dates are no more than 23 years from the date of adoption of the ordinance <br /> approving the Redevelopment Project. <br /> <br /> D. The City has developed a plan for relocation assistance for businesses and <br /> residences in conformity with the requirements of Sections 523.200 through 523.215 of the <br /> Revised Statutes of Missouri, as amended. <br /> <br /> E. A cost benefit analysis showing the economic impact of the Redevelopment Plan <br /> on each taxing district which is at least partially within the boundaries of the Redevelopment Area <br /> is attached as Exhibit B hereto and is incorporated herein as if fully set forth herein, which cost- <br /> benefit analysis shows the impact on the economy if the project is not built and is built pursuant to <br /> the Redevelopment Plan. The cost-benefit analysis also includes a fiscal impact study on every <br /> affected political subdivision, and sufficient information from the Developer for the TIF <br /> Commission to evaluate whether the Redevelopment Project as proposed is financially feasible, <br /> and the TIF Commission foundthat the Redevelopment Project as proposed is financially feasible. <br /> F. The Redevelopment Plan does not include the initial development or <br /> redevelopment of any gambling establishment. <br /> Section 2: The Redevelopment Area is hereby designated as a "redevelopment area" as <br /> defined in Section 99.805(11) of the Act. <br /> <br /> <br /> -2- <br />
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