ORDINANCE NO. CID-3026

Transcription

1 ORDINANCE NO. CID-3026 AN ORDINANCE MAKING FINDINGS AS TO THE NATURE AND ADVISABILITY OF CREATING A COMMUNITY IMPROVEMENT DISTRICT AT THE SOUTHWEST CORNER OF COLLEGE BOULEVARD & US 69 HIGHWAY; CREATING SAID COMMUNITY IMPROVEMENT DISTRICT; AUTHORIZING CERTAIN COMMUNITY IMPROVEMENT PROJECTS RELATING THERETO; APPROVING THE MAXIMUM COST OF SUCH COMMUNITY IMPROVEMENT PROJECTS; ESTABLISHING THE BOUNDARIES OF THE COMMUNITY IMPROVEMENT DISTRICT; PROVIDING FOR THE METHOD OF FINANCING OF THE COMMUNITY IMPROVEMENT DISTRICT; PROVIDING FOR THE METHOD OF ASSESSMENT OF THE COMMUNITY IMPROVEMENT DISTRICT; DECLARING THE INTENT TO DISSOLVE THE COMMUNITY IMPROVEMENT DISTRICT UNDER CERTAIN CIRCUMSTANCES; APPROVING THE EXECUTION AND DELIVERY OF A DEVELOPMENT AGREEMENT; AND ACKNOWLEDGING AND CONSENTING TO THE WITHDRAW OF A TDD PETITION. WHEREAS, pursuant to K.S.A. 12-6a26 et seq., as amended (the Act ), municipalities are authorized to create community improvement districts for economic development purposes and any other purpose for which public money may be expended; and WHEREAS, the City of Overland Park, Kansas (the City ), is a municipality within the meaning of the Act; and WHEREAS, the Act further authorizes the City, in order to pay the community improvement district project costs, to levy special assessments in the community improvement district to be paid in installments, to impose a community improvement district sales tax on the selling of tangible personal property at retail or rendering or furnishing services within a community improvement district in any increment of.10% or.25% not to exceed 2.0% and to issue special obligation bonds payable from such community improvement district sales tax; and WHEREAS, a petition (the Petition ) was filed by B. Francis Saul II, as Trustee for B.F. Saul Real Estate Investment Trust and Dearborn, L.L.C., a Delaware limited liability company f/k/a Dearborn Corporation (collectively the Petitioners ), with the City Clerk of the City on February 12, 2014 requesting (a) the creation of a community improvement district located generally at the southwest corner of College Boulevard & US 69 Highway within the City (the City Place CID ); (b) the making of improvements related thereto; and (c) the community improvement district project costs to be incurred within the City Place CID be financed with special obligation notes and bonds, all in accordance with the Act; acknowledging that under certain circumstances the City will take steps to dissolve the City Place CID; and withdrawing a transportation development district petition titled Petition for the Creation of City Place Transportation Development District #1 filed with the City by the Petitioners on November 18, 2013 (the TDD Petition ); and

2 WHEREAS, said Petition was signed by the owners of record, whether resident or not, of all of the land area within the proposed City Place CID excluding public right of way; and WHEREAS, the Act provides that upon filing of said Petition, a governing body may proceed without notice or a hearing to make findings by resolution or ordinance as to the nature, advisability and estimated cost of the project, the boundaries of the district and the amount and method of assessment; and WHEREAS, the Governing Body of the City hereby finds and determines it to be advisable to create the City Place CID and set forth the boundaries thereof, authorize community improvement projects relating thereto, approve the maximum costs of such community improvement projects, approve the method of financing the same, and establish the amount and method of assessment, all in accordance with the provisions of the Act; and WHEREAS, the Governing Body of the City hereby finds and determines that it is advisable to declare the intent of the City to dissolve the City Place CID if College 69 Associates, L.L.C., a Kansas limited liability company (the Developer ) does not execute and close on the land purchase documents under which the Petitioners transfer all of their right, title and interest in the property contained in the City Place CID to the Developer; and WHEREAS, the Governing Body of the City hereby finds and determines that it is advisable enter into a development agreement with the Developer, to establish the rights and responsibilities of the Developer and the City with respect to the disbursement of revenue received from the levy of special assessments against property in the proposed City Place CID; and WHEREAS, the Governing Body of the City hereby further finds and determines that it is appropriate and advisable to acknowledge and consent to the Petitioner s withdrawal of the TDD Petition. NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF OVERLAND PARK, KANSAS, AS FOLLOWS: Section 1. Creation of City Place Community Improvement District; Approval of Boundaries. The Governing Body of the City hereby finds and determines that it is advisable to create the City Place CID within the City and approve the boundaries thereof, and, as such, hereby creates the City Place CID and approves the boundaries thereof. A legal description of the property within the City Place CID is set forth on Exhibit A attached hereto and incorporated herein by reference. A map generally outlining the boundaries of the City Place CID is attached hereto as Exhibit B and incorporated herein by reference. Section 2. Authorization of Community Improvement District Projects; Maximum Costs. The Governing Body of the City hereby authorizes the project within the City Place CID described on Exhibit C attached hereto (the Project ) and determines the maximum cost of the Project is Six Million Thirty-One Thousand Four Hundred Twenty-Eight and 00/100 Dollars ($6,031,428.00), plus the CID Administrative Fee as defined by, and imposed pursuant to, that certain Development Agreement between the City and the Developer. Notwithstanding the approval of the Project by this Ordinance, the Project and owner or owners of all property 2

3 comprising the Project must comply with all applicable zoning, planning, permit and other laws and regulations applicable to the Project. Section 3. Method of Financing. The Project within the proposed City Place CID will be financed with special obligation notes and bonds payable from special assessments levied upon property within the City Place CID. No community improvement district sales tax will be imposed on sales within the boundaries of the proposed City Place CID. Section 4. Amount and Method of Special Assessment. The proposed amount of special assessment is up to Six Million Thirty-One Thousand Four Hundred Twenty-Eight and 00/100 Dollars ($6,031,428.00). The total assessment amount shall be spread per square foot of land area, excluding right-of-way, and shall be levied in installments on an annual basis for a maximum of twenty (20) years in equal installments each year. Section 5. Intent to Dissolve CID. In the event that the Developer does not execute and close on the land purchase documents under which the Petitioners transfer all their right and title in land contained in the City Place CID to the Developer on or before June 1, 2014, or another date mutually agreed to by the parties, it is the intent of the City to take the necessary action to dissolve the City Place CID. Section 6. Authorization to Execute Development Agreement. The Mayor, City Clerk and other appropriate officers of the City are hereby authorized and directed to execute, attest, acknowledge and deliver for and on behalf of and as the act and deed of the City, the Development Agreement between the City and the Developer in substantially the form on file with the City Clerk, with such changes as may be approved by the City Attorney. The Mayor, City Clerk and other appropriate officers of the City are hereby authorized and directed to execute, attest, acknowledge and deliver for and on behalf of and as the act and deed of the City, any other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Ordinance. Section 7. Withdrawal of the TDD Petition. The Governing Body of the City hereby acknowledges and consents to the Petitioner s withdrawal of the TDD Petition. Section 8. Effective Date. This Ordinance shall be in full force and take effect from and after its passage, approval and publication once in an official City newspaper. When this Ordinance becomes effective in accordance with this Section, the City Clerk is hereby authorized to submit this Ordinance to the Register of Deeds, referred to in Johnson County as the Office of Records and Tax Administration for recording. [Remainder of Page Intentionally Left Blank] 3

4 PASSED by the City Council this 17 th day of February, APPROVED by the Mayor this 17 th day of February, CITY OF OVERLAND PARK, KANSAS (SEAL) ATTEST: By: /s/ Carl Gerlach Carl Gerlach Mayor By: /s/ Marian Cook Marian Cook City Clerk APPROVED AS TO FORM: By: /s/ Tammy M. Owens Tammy M. Owens Deputy City Attorney APPROVED AS TO FORM: By: /s/ Dorothea K. Riley Dorothea K. Riley Kutak Rock LLP

5 EXHIBIT A Legal Description of City Place Community Improvement District All that part of the Northeast Quarter of Section 14, Township 13 South, Range 24 East, in the City of Overland Park, Johnson County, Kansas, described as follows: COMMENCING at the Northwest corner of the Northeast Quarter of Section 14, Township 13 South, Range 24 East; thence North 88 degrees 13 minutes 33 seconds East along the North line of the Northeast Quarter of said Section 14 a distance of feet to a point; thence South 1 degree 46 minutes 27 seconds East a distance of feet to a point on the South right of way line of College Boulevard, the POINT OF BEGINNING; thence North 88 degrees 13 minutes 30 seconds East along the South right of way line of College Boulevard a distance of feet to a point; thence South 87 degrees 57 minutes 36 seconds East along the South right of way line of College Boulevard a distance of feet to a point; thence North 88 degrees 13 minutes 33 seconds East along the South right of way line of College Boulevard a distance of feet to a point; thence South 89 degrees 07 minutes 29 seconds East along the South right of way line of College Boulevard a distance of feet to a point on the West right of way line of US 69 Highway; thence South 1 degree 38 minutes 29 seconds East along the West right of way line of US 69 Highway a distance of feet to a point; thence in a Southeasterly direction along the West right of way line of US 69 Highway and along a curve to the left whose initial tangent bears South 1 degree 41 minutes 33 seconds East, having a radius of feet, through a central angle of 45 degrees 47 minutes 54 seconds, an arc distance of feet to a point; thence South 47 degrees 25 minutes 34 seconds East along the West right of way line of US 69 Highway a distance of feet to a point; thence South 47 degrees 28 minutes 40 seconds East a distance of feet to a point; thence in a Southeasterly direction along a curve to the right, having a radius of feet, through a central angle of 7 degrees 45 minutes 02 seconds, an arc distance of feet to a point; thence in a Southeasterly direction along a curve to the right whose initial tangent bears South 21 degrees 57 minutes 18 seconds East, having a radius of feet, through a central angle of 7 degrees 31 minutes 49 seconds, an arc distance of feet to a point; thence South 14 degrees 25 minutes 29 seconds East a distance of feet to a point; thence South 89 degrees 20 minutes 56 seconds West a distance of feet to a point on the West right of way line of US 69 Highway; thence South 14 degrees 25 minutes 29 seconds East along the West right of way line of US 69 Highway a distance of feet to a point; thence South 2 degrees 44 minutes 46 seconds East along the West right of way line of US 69 Highway a distance of feet to a point on the Easterly prolongation of the Northerly line of College Park Estates, Second Plat, a subdivision in the City of Overland Park, Johnson County, Kansas; thence South 88 degrees 40 minutes 01 seconds West along the Northerly line of said College Park Estates, Second Plat and said prolongation a distance of feet to a point; thence North 1 degree 19 minutes 39 seconds West along the Northerly line of said College Park Estates, Second Plat and the Easterly line of College Park Estates, a subdivision in the City of Overland Park, Johnson County, Kansas, a distance of feet to the Northeasterly corner of said College Park Estates; thence North 62 degrees 42 minutes 33 seconds West along the Northerly line of said College Park Estates a distance of feet to a point; thence South 27 degrees 17 minutes 27 seconds West along the Northerly line of said College Park Estates a distance of feet to a point; thence North 62 degrees 42 minutes 33 A-1

6 seconds West along the Northerly line of said College Park Estates and the Northerly line of Blue Valley Estates, a subdivision in the City of Overland Park, Johnson County, Kansas, a distance of feet to a point on the East right of way line of Nieman Road; thence North 1 degree 26 minutes 55 seconds West along the East right of way line of Nieman Road a distance of feet to a point; thence North 1 degree 47 minutes 54 seconds East along the East right of way line of Nieman Road a distance of feet to a point; thence North 1 degree 01 minutes 39 seconds East along the East right of way line of Nieman Road a distance of feet to a point; thence in a Northerly direction along the East right of way line of Nieman Road and along a curve to the left, having a radius of feet, through a central angle of 2 degrees 28 minutes 34 seconds, an arc distance of feet to a point; thence North 20 degrees 10 minutes 48 seconds East along the East right of way line of Nieman Road a distance of feet to the POINT OF BEGINNING and containing 4,054,604 Square Feet or Acres, more or less. A-2

7 EXHIBIT B MAP City Place Community Improvement District B-1

8 EXHIBIT C PROJECT GENERAL PROJECT DESCRIPTION The general components of the CID Project include, but are not limited to: design and construction of 113 th Street and Indian Creek Parkway, improvements to include the streets; sidewalks; streetscape; sanitary and storm sewers; drainage conduits, basin, and channels, including the relocation and reengineering of the onsite stream way; street light fixtures; water main and extensions; public trail corridor system; entrance monuments power infrastructure; earthwork; retaining walls; utility improvements and relocation; landscaping; and all associated costs and fees, (the Project ). C-1