Title
AN ORDINANCE APPROVING A LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY REDEVELOPMENT PROJECT, MINSKY'S PIZZA, PURSUANT TO THE PROVISIONS OF THE LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY LAW, SECTIONS 99.300 TO 99.660 RSMo.
Body
Issue/Request:
AN ORDINANCE APPROVING A LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY REDEVELOPMENT PROJECT, MINSKY'S PIZZA, PURSUANT TO THE PROVISIONS OF THE LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY LAW, SECTIONS 99.300 TO 99.660 RSMo.
Key Issues:
If approved the attached ordinance would authorize a Land Clearance for Redevelopment (LCRA) redevelopment project - real property tax abatement for a single parcel located at 1251 NE Rice Road. The property is located within the existing "US 50/M-291 Highway" Urban Renewal Area and would entail a complete interior remodel and refurbish of the existing 6,980 square foot building, making exterior updates and adding an outdoor dining area on the west/front of the building.
The applicant is seeking real property tax abatement on the incremental increase in value on the project which is afforded through LCRA Law. The LCRA is recommending approval of 100% abatement for a 5 year period which is estimated to result in a real property tax abatement of $57,283.00.
Proposed City Council Motion:
FIRST MOTION: I move for a second reading of AN ORDINANCE APPROVING A LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY REDEVELOPMENT PROJECT, MINSKY'S PIZZA, PURSUANT TO THE PROVISIONS OF THE LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY LAW, SECTIONS 99.300 TO 99.660 RSMo.
SECOND MOTION: I move for adoption of AN ORDINANCE APPROVING A LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY REDEVELOPMENT PROJECT, MINSKY'S PIZZA, PURSUANT TO THE PROVISIONS OF THE LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY LAW, SECTIONS 99.300 TO 99.660 RSMo.
Background:
- June 12, 2014 - The City Council adopted Ordinance No. 7472 creating the "50/M 291 Highway" Urban Renewal Area.
- May 2, 2016 - Minsky's Pizza submitted a LCRA Urban Renewal Redevelopment Project application.
- May 12, 2016 - Minsky's presented a request to the City Council to obtain building permits and start work on the project prior City Council making a determiniation on the LCRA request. Within the Economic Incentive Policy is a provision that states "The City Council will not consider or grant incentives for projects that have received any type of building permit excluding the land disturbance permit". City Council determined that Mr. Parker would be allowed to proceed with pulling the applicable building permits and begin construction as he had been in discussion with staff since February 2016 and was under a deadline to vacate his current location.
- May 25, 2016 - The LCRA considered the Urgan Renewal Redevelopment Project application and unanimously recommended approval of a 100% real property abatement for a 5 year period on the incremental increase in value of the project.
- June 23, 2016 - The City Council having directed staff to present an ordinance approving the Minsky's Pizza LCRA Redevelopment Project.
Impact/Analysis:
Should the City Council approve the LCRA recommendation of real property tax abatement for the proposed project, the estimated amount of the tax abatement over the 5 year period is approximately $57,283.00.
The proposed project does not include any residential aspects, therefore negative impact(s) in terms of student enrollment to the Lee's Summit R-7 School District do not exist.
Presenter
Presenter: [Enter Presenter Here]
Recommendation
Recommendation:
Committee Recommendation
Committee Recommendation: The LCRA unanimously voted (4-0) to recommend approval of a 100% real property tax abatement for a 5 year period.