HomeMy WebLinkAbout2017-967-11/27/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2017-967
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE FY 2017
CROSSROADS WATERLOO TAX INCREMENT DISTRICT
AND PLACE THE CERTIFICATION ON FILE.
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 RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the City Clerk is instructed to certify to the County Auditor all
expenditures of the City that qualify for reimbursement from the FY 2017 Tax Increment Fund in
the Crossroads Tax Increment Redevelopment Area, as indicated in attached Exhibit "A" and
Exhibit`B", are hereby approved.
PASSED AND ADOPTED this 27`h day of November 2017.
Quentin Hart, Mayor
ATTEST:
elley Felchl
City Clerk
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Exhibit"A" r
June 30,2017
Project Designation: Crossroads Tax Increment Redevelopment Area 9
Schedule 1 1
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Indebtedness Qualifying for Tax Increment Reimbursement
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Under Section 403.19(2)
DATE OF
Cumulative
NO. ISSUANCE OR SOURCE DESCRIPTION OF INDEBTNESS
Amount
EXPENDITURE
AMOUNT INCURRED s
Crossing Point 50%2016 Advance $51,230.00 Rebate $51,230.00
50%2017 $103,004.00 $154,234.00
50%2018* $106,592.00 $260,826.00
50%2019* $106,592.00 $367,418.00
50%2020* $106,592.00 $474,010.00 s
50%2021* $106,592.00 $580,602.00
50%2022* $106,592.00 $687,194.00 .
50%2023* $106,592.00 $793,786.00
50%2024* $106,592.00 $900,378.00
50%2025* $106,592.00 $1,006,970.00
Fairfield Inn 50% 2017 Avance $18,220.00 Rebate $1,025,190.00
50%2018* $40,028.00 $1,065,218.00
50%2019* $40,028.00 $1,105,246.00 b
50%2020* $40,028.00 $1,145,274.00 {
50%2021* $40,028.00 $1,185,302.00
50%2022* $40,028.00 $1,225,330.00
50%2023* $40,028.00 $1,265,358.00
50%2024* $40,028.00 $1,305,386.00
Dupaco 50%2019* Advance $13,706.00 Rebate $1,319,092.00
50%2020* $13,706.00 $1,332,798,00
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50%2021* $13,706.00 $1,346,504.00
$0.00 $1,346,504.00
$1,346,504.00
$1,346,504.00
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Exhibit"B"
June 30,2017
Project Designation: CrossroadsTax Increment Redevelopment Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2) j
No. Year Received Received from Other Revenue Cumulative Amount
1 FY2017 $309,65232 $0.00 $309,652.32
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2 FY2018* $309,652.32 $0.00 $619,304.64
3 FY2019 $309,652.32 $0.00 $928,956.96
4 FY2020 $0.00 $0.00 $928,956.96
5 FY2021 $0.00 $0.00 $928,956.96
6 FY2022 $0.00 $0.00 $928,956.96 s
7 FY2023 $0.00 $0.00 $928,956,96 ti
8 FY2024 $0.00 $0.00 $928,956.96
9 FY2025 $0.00 $0.00 $928,956.96 E
10 FY2026 $0.00 $0.00 $928,956.96
11 FY2027 $0.00 $0.00 $928,956.96 4
12 FY2028 $0.00 $0.00 $928,956.96
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*-Estimated
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