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HomeMy WebLinkAbout2011-1095-11/21/2011This Resolution prepared by Carol Failor, Deputy City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2011-1095 RESOLUTION AUTHORIZING CERTIFICATION TO THE COUNTY AUDITOR THE CITY'S EXPENDITURES THAT QUALIFY FOR REIMBURSEMENT FROM THE TAX INCREMENT FUND IN THE MIDPORT/AIRPORT TAX INCREMENT DISTRICT. WHEREAS, the Code of Iowa allows the City to collect taxes within a certain geographical district to be deposited in a "Tax Increment Financing Fund", and WHEREAS, certification of the City's expenditures within said district must be made to the County Auditor on a yearly basis. NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA, that the City Clerk be instructed to certify to the County Auditor all expenditures of the City that qualify for reimbursement from the Tax Increment Fund in the MidPort/Airport Tax Increment District, as indicated in attached Exhibit 'A" and Exhibit "B", be and the same are hereby approved. PASSED AND ADOPTED this 21st day of November, 2011. „e.vte,e4d— 4g:// Ernest G. Clark, Mayor ATTEST: Suzy Sc ares, CMC City Clerk EXHIBIT "A" Cumulative as of June 30, 2011 Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Date Of Issuance or Expenditure Source Amount Description of Indebtedness incurred Cumulative Amount Site Development FY 1996 Principal $220,648.35 1996 GO Bonds 5220,648.35 MidPort Blvd. FY 1996 Principal $170,748.90 1996 GO Bonds $391,397.25 Rail Improvements FY 1996 Principal $8,682.75 1996 GO Bonds $400,080.00 Interest $205,357.39 1996 GO Bonds $605,437.39 Loan - Cedar Falls BDC Principal 510,000.00 ADVANCE $615,437.39 Interest 97-00 51,058.63 $616,496.02 Interest FY 01 $300.00 $616,796.02 Interest FY 02 5275.00 $617,071.02 Basic Materials (AADA) FY 1997 Principal 5100,000.00 ADVANCE $717,071.02 Interest 97-00 510,561.65 $727,632.67 Interest FY 01 $3,000.00 $730,632.67 Interest FY 02 $3,000.00 $733,632.67 Interest FY 03 53,180.82 $736,813.49 Interest FY04 52,537.26 $739,350.75 Interest FY05 $2,400.00 $741,750.75 Interest FY06 52,100.00 $743,850.75 Interest FY07 51,800.00 $745,650.75 Interest FY08 $1500.00 $747,150.75 Interest FY09 $1,200.00 $748,350.75 Interest FY10 5900.00 $749,250.75 Interest FY11 5600.00 $749,850.75 Interest FY -12 5300.00 $750,150.75 MIDPORT BLVD. RISE PHASE 1 6/97 Principal $129,945.07 1997 GO Bonds $880,095.82 Rail Spur Improvements FY 97 Principal $116,629.00 1998 GO Bonds 5996,724.82 Interest $119,366.30 1998 GO Bonds $1,116,091.12 Site Development FY 98 Principal $141,120.56 1998 GO Bonds $1,257,211.68 MidPort Blvd. FY 98 Principal $47,137.12 1998 GO Bonds $1,304,348.80 Rail Spur Improvements FY 98 Principal $77,449.07 1998.GO Bonds $1,381,797.87 Interest $123,689.79 1998 GO Bonds 51,505,487.66 Site Development FY 99 Principal $28,285.68 1999 G O Bonds $1,533,773.34 MidPort Blvd. FY 99 Principal $266,086.66 1999. G 0 Bonds $1,799,860.00 Sanitary Sewer FY 99 Principal $793,792.01 1999 G 0 Bonds $2,593,652.01 Interest $707,864.43 1999 G 0 Bonds $3,301,516.44 Site Development FY 00 Principal $106,524.92 2000 GO Bonds $3,408,041.36 Interest $55,651.00 $3,463,692.36 Sanitary Sewer FY 98-99 Principal $214,142.37 Advance $3,677,834.73 CB Richard Ellis Principal $210,000.00 Contract $3,887,834.73 Water Tap - WTT Principal $4,535.93 Advance $3,892,370.66 Water Tap - Adv. Heat Treat Principal $6,531.29 Advance $3,898,901.95 WTT Properties Tax Rebate TIF Rebate Agreement 100% 2001 $29,912.18 $3,928,814.13 100% 2002 $31,504.14 $3,960,318.27 100% 2003 $32,634.15 $3,992,952.42 Clear Windows Rebate TIF Rebate Agreement Page 1 of 4 EXHIBIT "A" Cumulative as of June 30, 2011 Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19121 75% 2004 $13,243.08 $4 006 195 50 60% 2005 $0.00 $4 006195.50 45% 2006 $14,526.00 '. 020 721.50 30% 2007 $8,715.58 '. 029 437.08 15% 2008 $2346.00 $4,031,783.08 Advanced Heat Treat Rebate TIF Rebate Agreement 100% 2002 $43,149.60 $4,074,932.68 100% 2003 $44,697.34 $4,119,630.02 100% 2004 $46,099.04 $4,165,729.06 Fed Ex Tax Rebate T1F Rebate Agreement 50% 2008 $24,433.25 190 162.31 50% 2009 $26,224.00 $4 216 386.31 50% 2010 $25,916.00 242 302.31 50% 2011 $25,952.00 268 254.31 50% 2012* $25,712.00 $4,293,966.31 Criterion Tax Rebate TIF Rebate Agreement 50% 2008 $3,119.76 54 297 086.07 50% 2009 $3,080.18 $4 300166.25 50% 2010 $3,036.00 . 303 202.25 50% 2011 $3,040.00 1 306 242.25 50% 2012* $3,012.00 $4,309,254.25 Advanced Heat Treat Rebate II TIF Rebate Agreement 50% 2010 $37,584.00 $4 346 838.25 50% 2011 $37,636.00 $4 384 474.25 50% 2012* $37,462.00 '.• 421 936.25 50% 2013* $37,462.00 $4 459 398.25 50% 2014* $37,462.00 $4 496 860.25 50% 2015* 537,462.00 $4 534 322.25 50% 2016* $22,477.00 $4,556,799.25 Magee Properties Rebate TIF Rebate Agreement 50% 2009 $6,126.00 $4 562 925.25 50% 2010 $6,054.00 $4 568 979.25 50% 2011 $6,062.00 $4 575 041.25 50% 2012* $6,006.00 $4 581 047.25 50% 2013* $6,006.00 $4,587,053.25 Accurate Gear Rebate TIF Rebate Agreement 50% 2012* $6,334.00 $4 593 387.25 50% 2013* $6,334.00 t 599 721 25 50% 2014* $6,334.00 606055.25 50% 2015* $6,334.00 $4 612 389.25 50% 2016* $6,334.00 $4,618,723.25 ConAgra Rebate TIF Rebate Agreement 90% 2010 $440,056.00 $5 058 779.25 90% 2011 $442,012.00 '5 500 791.25 90% 2012* $437,912.00 '. 938 703.25 90% 2013* $437912.00 $6376615.25 90% 2014* $437 912.00 $6 814 527.25 90% 2015* $437,912.00 $7 252 439.25 90% 2016* $437,912.00 $7 690 351.25 90% 2017* $437,912.00 $8128263.25 80% 2018* $389,256.00 $8 517 519.25 80% 2019* $389,256.00 .8 906 775.25 70% 2020* $340,598.00 $9 247 373.25 70% 2021* $340,598.00 $9 587 971.25 70% 2022* $340,598.00 '.9 928 569.25 60% 2023* $291,942.00 $10 220 51125 60% 2024* $291 942.00 $10 512 453.25 60% 2025* $291 94200 10 804 395.25 50% 2026* $243,284.00 $11 047 679.25 50% 2027* $243,284.00 $11 290 963.25 50% 2028* $243,284.00 $11 534 247.25 50% 2029* $243 284.00 $11,777,531.25 Empire Enterprises TIF Rebate Agreement 50% 2011 $7 390.00 11 784 921.25 50% 2012* $7,322.00 $11 792 243.25 50% 2013* $7,322.00 $11 799 565.25 50% 2014* $7,322.00 $11 806 887.25 50% 2015* $7,322.00 $11,814,209.25 Page 2 of 4 EXHIBIT "A" Cumulative as of June 30, 2011 Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) LaForge, LLC TIF Rebate Agreement 50% 2013 $33,526.00 311,847,735.25 50% 2014* $33,526.00 $11 881 261.25 50% 2015* $33,526.00 511.,914,787.25 50% 2016* $33,526.00 $11,948,313.25 50% 2017* $33,526.00 $11,981,839.25 50% 2018* $33 526.00 $12,015,365.25 50% 2019* $33,526.00 $12,048,891.25 50% 2020* $33,526.00 $12,082,417.25 Schwickerath TIF Rebate Agreement 50% 2013 $2,91400 $12,085,331.25 50% 2014* $2,914.00 $12,088,245.25 50% 2015* $2,914.00 $12,091,159.25 50% 2016* $2,914.00 $12,094,073.25 50% 2017* $2,914.00 $12,096,987.25 Tournier Manufacturing TIF Rebate Agreement 50% 2013 $18,644.00 $12,115,631.25 50% 2014* $18,644.00 $12,134,275.25 50% 2015* $18,644.00 $12,152,919.25 50% 2016* $18,644.00 $12,171,563.25 50% 2017* $18,644.00 $12,190,207.25 Bob & Kaye Huff TIF Rebate 50% 2011 $5,186.00 $12,195,393.25 50% 2012* $5,112.00 $12,200,505.25 50% 2013* $5,118.00 $12,205,623.25 50% 2014* $5,070.00 $12,210,693.25 50% 2015* $5,070.00 $12,215,763.25 Anthony & Christopher Huff TIF Rebate 50% 2010 $1,468.00 $12,217,231.25 50% 2011* $3,630.00 $12,220,861.25 50% 2012* $3,630.00 $12,224,491.25 50% 2013* $3,596.00 $12,228,087.25 50% 2014* $3,596.00 $12,231,683.25 Cedar Valley Economic Development (Marketing) Principal $4,500.00 Contract $12,236,183.25 Midport Sign Fund 412 Principal $51,825.00 412 GO Bonds $12,288,008.25 Interest $23,665.40 412 GO Bonds $12,311,673.65 Midport Sign Fund 411 Principal $11,069.00 411 GO Bonds $12,322,742.65 Interest $7,637.70 411 GO Bonds $12,330,380.35 Cedar Valley FY2004 Principal 517,500.00 Contract $12,347,880.35 Fund 413 Taxable Principal $200,000.00 413 GO Bonds $12547,880.35 Interest $76,609.00 $12,624,489.35 Fund 413 Taxable - Reallocate out of Midport Principal ($102,488.00) 413 GO Bonds $12,522,001.35 Interest (538,889.00) 312,483,112.35 Fund 413 Tax Exempt Principal $100,000.00 413 GO Bonds $12,583,112.35 Interest $26,177.00 $12,609,289.35 Fund 413 Tax Exempt- Reallocate out of Midport Principal (555,358.87) 413 GO Bonds $12,553,930.48 Interest (514,490.00) $12,539,440.48 Fund 413 Tax Exempt- Reallocate to Chamberlain Principal ($41,466.93) 413 GO Bonds $12,497,973.55 Interest (510,856.00) $12,487,117.55 Fund 414 Taxable - Reallocate out of NE Ind Park Principal $1,000.00 414 GO Bonds $12,488,117.55 Interest $488.00 $12,488,605.55 Greater Cedar Valley Alliance FYE2005 Principal $17,500.00 Contract $12,506,105.55 Greater Cedar Valley Alliance FYE2006 Principal $17,500.00 Contract $1.2,523,605.55 Greater Cedar Valley Alliance FYE2007 Principal $17,500.00 Contract $12,541,105.55 Greater Cedar Valley Alliance FYE2008 Principal $32,000.00 Contract $12,573,105.55 Greater Cedar Valley Alliance FYE2009 Principal $32,000.00 Contract $12,605,105.55 Greater Cedar Valley Alliance FYE2010 Principal $32,000.00 Contract $12,637,105.55 Page 3 of 4 EXHIBIT "A" Cumulative as of June 30, 2011 Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(21 Greater Cedar Valley Affiance FYE2011 Principal 59,500.00 Contract $12,646,605.55 1998 GO Bonds Refinanced - Deduct Old Debt Service Principal ($153,991.00) 1998 GO Bonds $12,492,614.55 Interest (525,186.00) $12,467,428.55 1999 GO Bonds Refinanced - Deduct Old Debt Service Principal ($482,216.00) 1999 GO Bonds 511,985,212.55 Interest (5173,967.00) $11,811,245.55 1998 GO Bonds Refinanced - Add New Debt Service Principal $155,051.00 2007 GO Bonds $11,966,296.55 Interest $22,397.00 $11,988,693.55 1999 GO Bonds Refinanced - Add New Debt Service Principal $485,540.00 2007 GO Bonds $12,474,233.55 Interest $135,891.00 512,610,124.55 Fund 409 Taxable Principal $155,000.00 2009 GO Bonds 512,765,124.55 Interest $37,543.26 $12,802,667.81 Welter Purchase Principal $349,018.34 Advance $13,151,686.15 WIDA Purchase Principal $14,367.18 Advance $13,166,053.33 LaForge Grant Principal $214,463.00 Advance $13,380,516.33 FAA Land Release Principal $111,618.00 Advance $13,492,134.33 2002 GO Bonds Refinanced - Deduct Old Debt Service Principal (536,825.00) 1999 GO Bonds 513,455,309.33 Interest (5146,172.66) $13,309,136.67 2002 GO Bonds Refinanced - Add New Debt Service - Fund 410 Principal $37,091.02 2010 GO Bonds $13,346,227.69 Interest $75,805.14 $13,422,032.83 Standard Trucking Grant Principal 599,985.00 Advance 513,522,017.83 'Estimated Page 4 of 4 EXHIBIT "B" Cumulative as of June 30, 2011 Project Designation: Airport Tax Increment Redevelopment Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Year Received Amount Received from Payments under Sec. 402.12(2) Other Revenue Received Cumulative Amount 1 FY 1996 $0.00 $0.00 2 FY 1997 $0.00 $0.00 3 FY 1998 $0.00 $0.00 4 FY 1999 $0.00 $0.00 5 FY 2000 $199,485.92 $199,485.92 6 FY 2001 $173,980.54 $373,466.46 7 FY 2002 $215,717.04 $589,183.50 8 FY 2003 $226,422.30 $815,605.80 9 FY 2004 $238,607.04 $1,054,212.84 10 FY2005 $329,246.96 $1,383,459.80 11 FY2006 $272,132.01 $1,655,591.81 12 FY2007 $352,005.51 $53,241.43 $2,060,838.75 13 FY2008 $490,903.37 $22,100.85 $2,573,842.97 14 FY2009 $905,538.28 $24,935.40 $3,504,316.65 15 FY2010 $1,153,257.70 $31,855.29 $4,689,429.64, 16 FY2011 $1,217,346.57 $22,119.44 $5,928,895.65! 17 FY2012* $1,217,346.57 $7,146,242.22 *ESTIMATED