HomeMy WebLinkAbout2017-970-11/27/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2017-970
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE FY 2017 MARTIN
ROAD TAX INCREMENT DISTRICT AND PLACE THE
CERTIFICATION ON FILE.
HE A
W RE S, 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 Martin Road Tax Increment Redevelopment Area, as indicated in attached Schedule "1" and
Schedule "2", are hereby approved.
PASSED AND ADOPTED this 27th day of November 2017.
Quentin Hart, Mayor
ATTEST:
Kelley Felchl
City Clerk
Schedule"1"
Cumulative Expenses as of June 30,2017
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19 2
DATE OF DESCRIPTION OF Cumulative
NO. ISSUANCE OR SOURCE
EXPENDITURE INDEBTNESS Amount
AMOUNT INCURRED
Recording Pees FY 1998-1999 Principal $464.50 1999 GO Bonds $464.50
Design&Construction
Engineering FY 1997-2001 Principal $20,328.07 1999 GO Bonds $20,792.57
FY 1999-2001 Principal $165,433.36 1999 GO Bonds $186,225,93
Construction of Road
&SewerFinancing FY 1998-2000 Interest $148,169.07 1999 GO Bonds $334,395.00 t
Brock Inc.Property 5/18/2004 Principal $385,000.00 Contract $719,395.00
Contract 1
Interest $55,598.78 $774,993.78 j
Denso Project Expenses ExP Principal $51,218.16 2002 GO Bonds $826,211.94
-Fund 412 FY 2004 Interest $20,299.47 2002 GO Bonds $846,511.41
Martin Road FY2006 Principal $100,000.00 2006 GO Bonds $946,511.41
Development-Fund 406 Interest $57,473.78 $11003,985.19
Denso Tax Rebates Principal TIF Rebate $1,003,985.19 s
30%2007 $14,055.53 $1,018,040.72
30%2008 $17,072.82 $1,035,113.54
30%2009 $18,329.83 $1,053,443.37
30%2010 $18,115.17 $1,071,558.54
30%2011 $18,140.07 $1,089,698.61
Wilbert Vault Rebates Principal TIF Rebate
90%2008 $25,367.50 $1,115,066.11
90%2009 $25,045.82 $1,140,111.93
90%2010 $24,686.00 $1,164,797.93
90%2011 $24,720.00 $1,189,517.93
90%2012 $24,490.00 $1,214,007.93 £
90%2013 $22,604.00 $1,236,611.93
90%2014 $21,116.00 $1,257,727.93 I
90%2015 $19,390.00 $1,277,117.93 k
I;
90%2016 $16,184.00 $1,293,301.93 n
90%2017 $24,604.48 $1,307,906.41 k
Rain Soft Rebates TIF Rebate $1,307,906.41
100% 2009 $12,844.23 $1,320,750.64
100% 2010 Principal $12,698.00 $1,333,448.64 7
100% 2011 $12,716.00 $1,346,164.64
100% 2012 $12,598.00 $1,358,762.64 g
100% 2013 $13,124.00 $1,371,886.64
Young Development TIF Rebate y
(Country Estates) $1,371,886.64 i
t,
100% 2010 $16,100.00 $1,387,986.64 r
100% 2011 $16,122.00 $1,404,108,64
100% 2012 $15,972.00 $1,420,080.64 u
100% 2013 $15,216.00 $1,435,296.64
100% 2014 Principal $14,216.00 $1,449,512.64 a
100% 2015 $12,756.00 $1,462,268.64
100% 2016 $10,100.00 $1,472,368.64
100% 2017 $8,994.00 $1,481,362.64
100%2018* $12,582.00 $1,493,944.64 ;
2019* $3,026.741 $1,496,971.38
1
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Schedule"1"
Cumulative Expenses as of June 30,2017
Project Designation: Martin Road Tax Increment Redevelopment Area s
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement a
Under Section 3.19(2)
Stephen Riley TIF Rebate $1,496,971.38
100% 2010 $19,498.00 $1,516,469.38
a
100% 2011 $19,548.00 $1,536,017.38 s
100% 2012 Principal $19,368.00 $1,555,385.38
100% 2013 $16,028.00 $1,571,413.38
100% 2014 $14,972.00 $1,586,385.38
100% 2015 $13,496.00 $1,599,881.38
Maurer TIF Rebate $1,599,881.38
100% 2011 $56,178.00 $1,656,059.38
100% 2012 $55,656.00 $1,711,715.38
Principal
100% 2013 $65,472.00 $1,777,187.38
100% 2014 $61,164.00 $1,838,351.38
100% 2015 $58,426.00 $1,896,777.38 s'
i
JARF(Fahr Beverage) TIF Rebate $1,896,777.38 i!
100% 2011 $22,268.00 $1,919,045.38
100% 2012 $22,062.00 $1,941,107.38
100% 2013 Principal $20,642,00 $1,961,749.38 .
100% 2014 $19,284.00 $1,981,033.38
100% 2015 $15,156.00 $1,996,189.38
100% 2016 $12,448.00 $2,008,637.38
Watessa TIF Rebate $2,008,637.38
100% 2012 $41,396.00 $2,050,033.38
100% 2013 $48,422.00 $2,098,455.38
100% 2014 $45,238.00 $2,143,693.38
100% 2015 $42,952.00 $2,186,645.38
68% 2016 Principal $25,130,00 $2,211,775.38
50°6 2017 $16,600.00 $2,228,375.38
50% 2018* $20,188.00 $2,248,563.38
I;
50% 2019* $20,188.00 $2,268,751.38 :
f
50% 2020* $20,188.00 $2,288,939.38 E
50% 2021* $20,188.00 $2,309,127.38 I
Deer Creek $2,309,127.38
2011 $300,000.00 $2,609,127.38
2012 $200,000.00 $2,809,127.38
2013 $200,000.00 $3,009,127.38
2014 $200,000.00 $3,209,127.38
2015 $200,000.00 $3,409,127.38
2016 $200,000.00 $3,609,127.38
2017 $200,000.00 $3,809,127.38
2018 Principal $200,000.00 $4,009,127.38
2019 $200,000.00 $4,209,127.38
2020 $200,000.00 $4,409,127.38
2021 $200,000.00 $4,609,127.38
2022 $200,000.00 $4,809,127.38
2023 $200,000.00 $5,009,127.38 a
t
2024 $200,000.00 $5,209,127.38
2025 $200,000.00 $5,409,127.38
2026 $301,658.64 $5,710,786.02
Corsta ng Enterprises $5,710,786.02
2013 $38,063.00 $5,748,849.02
2014 Principal $18,129.00 $5,766,978.02
2015 $0.001 $5,766,978.02
2016 $0.00 $5,766,978.02
PTL Properties,LLC TIF Rebate $5,766,978.02
i
Schedule'T'
Cumulative Expenses as of June 30,2017
Project Designation; Martin Road Tax Increment Redevelopment Area
r
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(21e
100% 2013 $26,946.00 $5,793,924.02
100% 2014 $23,534.00 $5,817,458.02 p
100% 2015 $21,864.00 $5,839,322.02
4
100% 2016 $18,612.00 $5,857,934,02 s
22% 2017 Principal $1,034,00 $5,858,968.02
50% 2018* $10,502.00 $5,869,470.02 k
50% 2019* $10,502.00 $5,879,972,02 a
50% 2020* $10,502,00 $5,890,474.02 H
50% 2021* $10,502.00 $5,900,976.02 t
50% 2022* $10,502.00 $5,911,478.02
SVW Properties,LLC TIF Rebate $5,911,478.02
100% 2013 $27,170.00 $5,938,648.02 rc
100% 2014 $24,396.00 $5,963,044.02
100% 2015 $22,704.00 $5,985,748.02
100% 2016 $19,390.00 $6,005,138.02 g
22% 2017 Principal $602.00 $6,005,740.02
f
50% 2018* $10,888.00 $6,016,628.02
50% 2019* $10,898.00 $6,027,516.02
50% 2020* $10,888.00 $6,038,404.02
50% 2021* $10,888.00 $6,049,292.02
50% 2022* $10,888.00 $6,060,180.02 s
Avita Developments,LLC a
50%2016 $14,568,00 $6,074,748.02
50%2017 $16,050.00 $6,090,798.02 s
50%2018* $16,218.00 $6,107,016,02
50%2019* Principal $16,218.00 $6,123,234.02
50%2020* $16,218.00 $6,139,452.02 w
50%2021* $16,218.00 $6,155,670.02
50%2022* $16,218.00 $6,171,888.02
50%2023* $16,218.00 $6,188,106.02 a
Reserves at Ridgeway TIP Rebate $6,188,106.02
50% 2018* $30,440,00 $6,218,546.02
50% 2019* $30,440.00 $6,248,986,02
Principal
50% 2020* $30,440.00 $6,279,426,02
50% 2021* $30,440.00 $6,309,866.02
50% 2022* $30,440.00 $6,340,306.02
M&K Electric
70%2018* $3,532.00 $6,343,838.02
70%2019* $3,532,00 $6,347,370.02
70%2020* $3,532.00 $6,350,902.02
Principal
70%2021* $3,532.00 $6,354,434,02
65%2022* $3,280.00 $6,357,714.02
1(
65%2023* $3,280,00 $6,360,994,02
G
65%2024* $3,280.00 $6,364,274,02 r
ti
Senad Dizdarevic I
80%2017 $4,922,00 $6,369,196.02
80%2018* $8,600.00 $6,377,796.02
80%2019* $8,600.00 $6,386,396.02
80%2020* Principal $8,600.00 $6,394,996.02 s
80%2021* $8,600.00 $6,403,596.02
80%2022* $8,600.00 $6,412,196.02
70%2023* $7,524.00 $6,419,720.02
70%2024* $7,524.00 $6,427,244.02 i
70%2025* $7,524.00 $6,434,768.02
C
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Schedule'T'
E
Cumulative Expenses as of June 30,2017
t
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19 2
Gubbels Heating $6,434,768.02
i
2019 $20,227.78 $6,454,995.80'
2020 $20,227.78 $6,475,223.58
2021 $20,227.78 $6,495,451.36
2022 $20,227.78 $6,515,679.14 t
2023 Principal $20,227.78 $6,535;906.92''
2024 $20,227.78 $6,556,134.70
a
2025 $20,227.78 $6,576,362.48;
2026 $21;292.40 $6,597,654.88'' E
2027 $21;292.40 $6,618,947.28,' i
2028 $14;194.93 $61633;142.21>i r
Hawkeye Stages $6,633,142.21
2019 $33,400.27 $6,666,542.48;
2020 $33;400,27 $6,699,942.75 s
2021 $33,400.27 $6,733,343.02x'
2022 $33,400,27 $6,766,743.291
2023 Principal
$33,400.27 $6,800,143.56 i
2024 $12,525.10 $6,812,668.66`
2025 $12,525.10 $6,825,193.76
2026 $12;525.10 $6,837,718.86
2027 $12,525,10 $6,850,248.96-
2028
6,850;243.96-
2028 $12,525.10 $6,862;769.06' s
1999 GO Bonds Refinanced-Deduct Old Debt Principal -$82,407.00 $6,780,362.06
Service 1999 GO Bonds
Interest -$29,728.00 $6,750,634.06
1999 GO Bonds Refinanced-Add New Debt Principal $82,971.00 2007 GO Bonds $6,833,605.06 f
Service-Fund 407 Interest $23,222.00 $6,856,827.06
Martin Road Dev. FY2007 Principal $50,000.00 2007 GO Bonds $6,906,827.06
(taxable) Interest $17,728.00 $6,924,555.06
Martin Road Dev. FY 2008 Principal $80,000.00 2008 GO Bonds $7,004,555.06
(taxable) Interest $25,000.00 $7,029,555.06
Corstang Purchase FY2009 Principal $196,020.00 Advance $7,225,575.06
San Sewer Design FY2010 Principal $558.00 Advance $7,226,133.06
San Sewer Design FY2011 Principal $425.50 Advance $7,226,558.56
2002 GO Bonds Refinanced-Deduct Old Debt Principal ($29,403.28) $7,197,155.28
Service 2002 GO Bonds 3
Interest ($5,907.08) $7,191,248.20
3
2002 GO Bonds Refinanced-Add New Debt Principal $29,639.76 $7,220,887.96
Service-Fund 410 2010 GO Bonds
Interest $3,063.42 $7,223,951.38
i
2006 GO Bonds Refinanced-Deduct Old Debt Principal ($75,000.00) $7,148,951.38
2006 GO Bonds ti
Service Interest ($20,921.26) $7,128,530.12
2006 GO Bonds financed-Add New Debt principal $65,657.00 $7,194,187.12
Service-Fund 413(FY13) 2013 GO Bonds $
Interest $5,788.40 $7,199,975.52
Reallocate Fund 407 G.O.Bonds to San Principal ($48,071.35 $7,151,904.17
Marnan 2007 G.O.Bonds $7,134,859.99 i
Interest ($17,044.18)
t
Reallocate Fund 408 G.O,Bonds to San Principal ($80,000.00) $7,054,859,99 i,
Marian 2008 G.O.Bonds
Interest ($25,ODO.UO) $7,029,859.99 1
2007 GO Bonds Refunded-Deduct OId Debt Principal ($40,175.00) 2007 G.O,Bonds $6,989,744.99
Service interest ($4,761.00) $6,984,983.99 a
1
2007 GO Bonds Refinanced-Add New Debt Principal $40,115.00 $7,025,098.99 $
Service Fund 414 p 2014 G.O.Bonds
( ) Interest $3,550.00 $7,028,648.99 ,
Martin Road Dev. Principal $100,000.00 $7,128,648.99 1
FY 2011 2011 GO Bonds 4
(taxable) Interest $37,730.31 $7,166,379.30
Martin Road Dev. FY2015 Principal $57,000.00 2015 GO Bonds $7,223,379.30
(taxable) Interest $8,683.13 $7,232,062.43
r
Schedule"1" d
Cumulative Expenses as of June 30,2017 €
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(21E
Wrtin Rd GO Bond FY2017 Prizicipal $1185000.00 $9,032;062.43
2017 GO Bonds a
g7 Interest $439;586.34 $9,471;648.77
Development Serv, FY2011 Principal $1,200.00 Advance $9,472,848.77
Failor-Hurley Grant FY2011 Principal $80,000.00 Advance $9,552,848.77
Failor-Hurley Grant FY2012 Principal $17.00 Advance $9,552,865.77
Deer Creek Dev. FY2013 Principal $80,000.00 Grant $9,632,865.77
Deer Creek Dev. IFY2015 Principal $80,000.00 Grant $9,712,865.77
s
Administrative Expenses FY15 Principal $4,119.45 Advance $9,716,985.22
San Sewer Design IFY2012 Principal $1,505.00 Advance $9,718,490.22
2016 GO Bonds-Add New Debt Service- Principal $300,000.00 $10,018,490.22
Fund 416(FY16) Interest $31,963.00 2016 GO Bonds $10,050,4.53.22
f
Rath Area Redevelopment Fund 415 FY 2015 Principal $220•000.00 2016 GO Bonds $10,270,453.22
GO Bonds Realocation Interest $34,999.39 $10,305,452.61
Administrative Expenses FY 16 Advance $8,000.00 $10,313,452.61 4
Hawkeye Stages ED Grant Advance $474,435.50 $10,787,888.11 j
Wienands ED Grant Advance $200,904.00 $10,988,792.11
Adu�inistrative Expenses FYI Advance $11;13417 $10,999,926.28
Baldwin Grant Advance $75,000 00 $11,Q74;926 28;
Baldwin Grant Credit Credit -$75,000.00 $10,999, 7b 28
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Schedule "2" G
Cumulative Revenue as of June 30,2016
Project Designation: Martin Road Tax Increment Redevelo ment E
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received
a
from Payments
under Sec. Other Revenue
No. Year Rece 402.12(2) Received. Cumulative Amount
1 FY 1997 $0.00 $0.00
2 FY 1998 $0.00 $0.00
3 FY 1999 $3,573.58 $3,573.58
4 FY 2000 $7,314.98 $10,888.56
5
5 FY 2001 $76,616.52 $87,505.08
6 FY 2002 $60,214.96 $147,720.04
7 FY 2003 $67,780.85 $215,500.89
8 FY 2004 $74,966.48 $290,467.37
9 FY2005 $123,495.49 $413,962.86
10 FY2006 $150,499.75 $564,462.61
11 FY2007 $171,278.42 $101,903.67 $837,644.70
x
12 FY2008 $204,129.43 $18,939.01 $1,060,713.14 l
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13 FY2009 $255,746.77 $5,108.00 $1,321,567.91
14 FY2010 $249,984.54 $460.98 $1,572,013.43
15 FY2011 $394,612.49 $888.50 $1,967,514.42
16 FY2012 $474,303.10 $32.15 $2,441,849.67
17 FY2013 $564,599.22 $74.41 $3,006,523.30
18 FY2014 $522,759.56 $188.85 $3,529,471.71
19 FY2015 $525,348.24 $583.98 $4,055,403.93
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20 FY2016 $557,473.61 $1,054.50 $4,613,932.04
21 FY2017* $585,590.86 $0.00 $5,199,522.90
22 FY2018* $585,590.86 $5,785,113.76
B
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3
" -Estimated
Rev thru FYE16 $4,484,697.99 $129,234.05
Rev FYE08 thru FYE1i $3,748,956.96 $27,330.38
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