The URL can be used to link to this page

Home My WebLink About2016-10-8435198633 ORDINANCE NO. 2016-10-8435 AN ORDINANCE CONDITIONALLY GRANTING AND APPROVING THE W.B. SANDERS RETIREMENT CENTER AND JACKSON HOUSE APARTMENTS PROPERTY ASSESSMENT AND REASSESSMENT MORATORIUM FOR CITY OF PADUCAH TAXES AND AUTHORIZING THE DIRECTOR OF PLANNING TO ADMINISTER THE MORATORIUM WHEREAS, KRS, 99.595 through 99.605 and KRS 132.452 permit local governments to establish property assessment and reassessment moratoriums for qualifying properties; and WHEREAS, the City of Paducah wishes to take advantage of the provisions of these laws to encourage the repair, rehabilitation, restoration or stabilization of existing real property in the City of Paducah, Kentucky; and WHEREAS, Western Kentucky Union Labor Senior Citizens Housing Corporation, a Kentucky not-for-profit corporation, ("Owner") is the current occupant/owner of the real property and improvements located at 300 and 301 South 9th Street, in Paducah, McCracken County, Kentucky 42003, upon which is located the existing residential buildings generally known as the Jackson House Apartments and the W.B. Sanders Retirement Center; and WHEREAS, a request has been made by the Owner for the granting of a property assessment or reassessment moratorium for the real property and existing residential buildings of Owner, generally known as the Jackson House Apartments and the W.B. Sanders Retirement Center located at 300 and 301 South 9t' Street, Paducah, McCracken County, Kentucky (collectively, the "Properties"). NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1: The Properties are eligible for property assessment or reassessment moratorium pursuant to KRS 99.595(3) as existing residential buildings, having been in existence for at least twenty-five (25) years and are being used to provide independent living facilities for one (1) or more persons; and moratoriums shall be granted when and provided, however, each of the following conditions are fully satisfied by the Owner: (i) The costs of improvements to the existing residential building, generally known as the W.B. Sanders Retirement Center, including materials and labor, must exceed $3,500,000. (ii) The cost of improvements to the existing residential building, generally known as the Jackson House Apartments, including materials and labor, must exceed $11,000,000. (iii) The rehabilitated portion of the existing residential buildings must comply with all applicable building codes. (iv) All required permits (i.e. zoning, building, etc.) must have been obtained, the real property upon which the existing residential buildings sit must be free of any liens held by the City of Paducah, and all property taxes and any and all other governmental levies, assessments or taxes of every kind and nature whatsoever, which are assessed, levied, imposed upon, or would become due and payable out of or with respect to the real property upon which the existing residential buildings sit must be paid, including without limitation business license fees. 564 follows: (v) The Owner shall file an application with the administering agency as (1) The application shall be on a form prescribed by the Department of Revenue and shall be filed in the manner prescribed by the Department of Planning. (2) The application shall be filed with the administering agency thirty (30) days before commencing the restoration, repair, rehabilitation, or stabilization. (3) The application shall contain the following: (a) A general description of the Properties; (b) A general description of the proposed use of the Properties; (c) The general nature and extent of restoration, repair, rehabilitation or stabilization to be undertaken and cost estimates based on bids submitted to the applicant; (d) A time schedule for undertaking and completing the project; (vi) The Owner shall have completed the improvements within two (2) years of approval of the application for property assessment or reassessment moratoriums by the administering agency, unless granted an extension in writing by the Department of Planning and the Paducah City Commission. In no case shall the application be extended beyond two (2) additional years. This provision shall not preclude normal reassessment of the Properties. SECTION 2: The administering agency for this moratorium shall be the City of Paducah Department of Planning. SECTION 3: This moratorium shall be for a period of five (5) years, and shall become effective on the assessment date next following the issuance of the moratorium certificate by the City of Paducah Department of Planning. SECTION 4: The Property Valuation Administrator (PVA) shall assess or reassess the Properties within thirty (30) days of the approval of the application for property assessment or reassessment moratoriums by the administering agency. This assessment shall be the value for which the City of Paducah taxes are to be levied for five (5) years after the moratorium certificate has been issued. SECTION 5: Any application not acted upon by the applicant shall become void two (2) years from the date of application and shall be purged from the files of the PVA and the Department of Planning. SECTION 6: The Owner shall notify the Department of Planning when the project is complete, and the Department of Planning shall then conduct an on-site inspection of the Properties for purposes of verifying that the improvements described in the application have been completed. Only after the project is complete and the improvements verified shall the moratorium certificate be issued by Department of Planning. SECTION 7: An assessment or reassessment moratorium certificate may be transferred or assigned by the holder of the certificate to a new owner or lessee of the Properties. SECTION 8: At the end of the moratorium period, whether by expiration, cancellation or revocation, the Department of Planning shall send the Owner and the PVA a letter advising of the end of the moratorium and the reassessment of the Properties. On the assessment date next following the expiration, cancellation or revocation of an assessment or reassessment moratorium, the Properties shall be assessed on the basis of its full fair cash value. SECTION 9: The Properties may be eligible for a subsequent moratorium certification provided that reapplication be made no sooner than three (3) years following the expiration of the original moratorium or any subsequent moratoriums. 565 SECTION 10: Definitions for interpreting this ordinance shall be those outlined in KRS Chapter 99 relating to property assessment and reassessment moratoriums. SECTION 11. Severability. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. SECTION 12. Compliance With Open Meetings. The City Commission hereby finds and determines that all formal actions relative to the adoption of this Ordinance were taken in an open meeting of this City Commission, and that all deliberations of this City Commission and of its committees, if any, which resulted in formal action, were in meetings open to the public, in full compliance with applicable legal requirements. SECTION 13. Conflicts. All ordinances, resolutions, orders or parts thereof in conflict with the provisions of this Ordinance are, to the extent of such conflict, hereby repealed and the provisions of this Ordinance shall prevail and be given effect. SECTION 14, Effective Date. This Ordinance shall be read on two separate days and will become effective upon summary publication pursuant to KRS Chapter 424. ATTEST: Q l/YYU�tIL�/� City Clerk Introduced by the Board of Commissioners, September 27, 2016 Adopted by the Board of Commissioners, October 4, 2016 Recorded by City Clerk, October 4, 2016 Published by The Paducah Sun, October 6, 2016 \ord\plan\moratorium Jackson house & w b sanders 566