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Home My WebLink About2017-973-11/27/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2017-973 RESOLUTION APPROVING CERTIFICATION TO THE BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT QUALIFY FOR REIMBURSEMENT IN THE FY 2017 NORTHEAST INDUSTRIAL PARK URBAN RENEWAL AND REDEVELOPMENT 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 Tax Increment Fund in the FY 2017 Northeast Industrial Area 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. �L - 6 , ->- { Quentin Hart, Mayor ATTEST: lie Kelley Felc 1 City Clerk Schedule"I" Cumulative as of June 30,2017 Project Designation: Northeast Industrial Area Tax Increment RedeveloRment Area Schedule 1 Indebtedness Qual fying for Tax Increment Reimbursement Under Section 403.19(2) No. Source Description of Indebtedness Cumulative Amount AMOUNT INCURRED Land Acquisition 8/95 Principal $245,447.90 Land Contract $245,447.90 Land Acquisition Principal $362,178.20 Land Contract $607,626.10 Sanitary Sewer FY 97-98 Principal $215,725,99 Advance $823,352.09 Dirt Credit 1997 Principal $347,400.00 Agreement $1,170,752.09 2000-$126,796.00 e 2001-$63,203.00 2002-$110,908.00 j 2003-$46,492.50 t Engineering FY 97-00 Principal $105,796.41 G.O.Bonds $1,276,548.50 Recording fees FY 97-00 Principal $3,048.75 G.O.Bonds $1,279,597.25 i Northeast Drive FY 1997 Principal $97,276.80 G.O.Bonds $1,376,874.05 T.G.Drive FY 1998 Principal $125,410.59 G.O.Bonds $1,502,284.64 R&N Investments II Rebate Principal TIF Tax Rebate $1,502,284.64 50% 2003 $0 $1,502,284.64 50% 2004 $1,509,284.64 (cancelled) 50% 2005 $1,502,284.64 50% 2006 $1,502,284.64 50% 2007 $1 l ,502,284.64 1 Interstate Brands Rebate Principal TIF Tax Rebate $1,502,284.64 75% 2003 $21,999.00 $1,524,283.64 y 60%2004 $18,402.00 $1,542,685.64 % 45%2005 $16,027.56 $1,558,713.20 30%2006 $0.00 $1,558,713.20 15%2007 $0.00 $1,558,713.20 15% 2014 $15,631.00 $1,574,344.20 _ Financing FY 1997-2000 Interest $417,660,53 G.O.Bonds $1,992,004.73 Plat Engineering Fund 411 Principal $5,000.00 $1,997,004.73 Interest $3,450.00 2001 G.O.Bonds $2,000,454.73 GT Drive 1I $2,000,454.73 Fund 411-Construction Principal $182,868.00 $2,183,322.73 Interest $71,963.68 2001 G.O.Bonds $2,255,286.41 i; Fund412-Construction Principal $48,630.00 $2,303,916.41 2002 G.O.Bonds Interest $21,873.14 $2,325,789.55 Fund 412-RISE Application Principal $4,500.00 $2,330,289.55 Interest $3,139.00 2002 G.O.Bonds $2,333,428.55 WIDA FY 2003 Interest $8,482.82 Contract $2,341,911.3 WIDA FY2004 Interest $10,820.89 Contract $2,352,732.26 i WIDA FY2005 Interest $4,276.29 Contract $2,357,008.5 f I Cedar Valley FY2004 Principal $13,200.00 Contract $2,370,208.55 F. Cedar Valley FY2005 Principal $17,500.00 Contract $2,387,708.55 ii Cedar Valley FY2006 Principal $17,500.00 Contract $2,405,208.55 E Cedar Valley FY2007 Principal $17,500.00 Contract $2,422,708.5 Cedar Valley FY2008 Principal $32,000.00 Contract $2,454,708.55 Cedar Valley FY2009 Principal $33,168.00 Contract $2,487,876.55 Cedar Valley FY2010 Principal $32,000.00 Contract $2,519,876.55 l Cedar Valley FY2011 Principal $9,500.00 Contract $2,529,376.55 Cedar Valley FY2012 Principal $16,166.00 Contract $2,545,542.55 n Cedar Vatley FY2013 Principal $24,000.00 Contract $2,569,542.55 Cedar Valley FY2014 Principal $16,166.67 Contract $2,585,709.22 Cedar Valley FY2015 Principal $12,833.33 Contract $2,598,542.55 2,614,709.22 e GCVA FY2016 Advance $16,166.671Contract $ g GCVA FY2017 Advance $16,166.6.6 Contract $2,630,875.88 i Schedule'T' Cumulative as of June 30,2017 Project Designation: Northeast Industrial Area Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) i Gray Transportation Rebates Principal TIF Tax Rebate $2,630,875.88 50%2005 $31,493.93 $2,662,369.81 50%2006 $32,391.28 $2,694,761.09 50%2007 $26,788.28 $2,721,549.3 50%2008 $27,139.08 $2,748,688.45 50%2009 $28,976.01 $2,777,664.46 Ferguson Enterprises Fund 414 Principal $3,500,000.00 2004 G.O.Bonds $6,277,664.46 Interest $1,708,885.00 $7,986,549.46 Ferguson Enterprises Rebates Principal TIF Tax Rebate $7,986,549.46 PY2007 $392,733.25 $8,379,282.71 PY2008 $435,187.68 $8,814,470,39 FY2009 $467,334.00 $9,281,804.39 PY2010 $461,864.00 $9,743,668.39 FY2011 $462,500.00 $10,206,168.39 FY2012 $458,210,00 $10,664,378.39 FY2013 $374,184.00 $11,038,562,39 FY2014 $349,570.00 11388132.39s FY2015 $328,042.00 $11,716,174.39 FY2016 $277,498.00 $11,993,672.39 R Etrin er Land Contract Principal $350,000.00 Land Contract $12,343,672.39 FY2007 Interest $3,161.67 $12,346,834.06 FY2008 interest $2,499.56 $12,349,333.62 OF[Properties Principal TIF Tax Rebate $12,349,333.62 i 50%FY2009 $52,758.13 $12,402,091.75 50%FY2010 $54,310.00 $12,456,401.75 e 50%FY2011 $54,384,00 $12,510,785.75 t 50%FY2012 $53,880.00 $12,564,665,75 50%FY2013 $37,352.00 $12,602,017.75 Veteran Enterprises,Ltd. Principal TIF Tax Rebate $12,602,017,75 50%FY2013 $13,635.00 $12,615,652.75 50%FY2014 $39,115.00 $12,654,767,75 50%FY2015 $12,108.00 $12,666,875.75 50%FY2016 $0.00 $12,666,875.75 50%FY2017 $0.00 $12,666f875.75 Twin Ci Tannery Principal TIF Tax Rebate $12,666,875.75 50%FY2014 $36,866.00 $12,703,741.75 50%FY2015 $13,276.00 $12,717,017.75 50%FY2016 $7,516.00 $12,724,533.75 GMJ2 Industries,LLC $12,724,533.75 50%FY2023* $15,918.00 $12,740,451.75 50%FY2024* $15,918.00 $12,756,369.75 50%FY2025* $15,918.00 $12,772,287,75 50%FY2026* $15,918.00 $12,788,205.75 i 50°h FY2027* $15,918.00 $12,804,123.75 1999 GO Bonds Refinanced-Deduct Principal ($208,847,00) 1999 G.O.Bonds $12,595,276.75 Old Debt Service interest ($75,344.00 $12,519,932.75 g 2007 GO Bonds-1999 GO Bonds Principal $210,281.00 2007 G.O.Bonds $12,730,213.75 Refinanced-Add New Debt Svc Interest $58,851.00 $12,789,064.75 2007 GO Bonds Refinanced-Deduct Principal $101,668.00 2007 G.O.Bonds $12,687,396,75 Old Debt Service Interest $12,064.00) $12,675,332.75 2014 GO Bonds-2007 GO Bonds Principal $96,598.00 2014 G.O.Bonds $12,771,930.75 Refinanced-Add New Debt Svc Interest $8,997.00 $12,780,927,75 r Fund 414 Taxable Reallocate Bonds Principal $69,651.07 2004 G.O.Bonds $12,711276.68 for NE Site Projects-2008 Interest ($34,007.24) $12,677,269.44 i 2001 GO Bonds Refinanced-Deduct Interest ($33,048.06) 2001 G.O.Bonds $12,644,221.38 a 2009 GO Bonds-2001 GO Bonds Interest $9,046.22 2009 G.O.Bonds $12,653 267,60 Veterans Ent Grant Principal $207,093.00 Advance $12,860,360.60 l 2002 GO Bonds Refinanced-'Deduct Principal $35,000,00 1999 G.O.Bonds $12,825,360.60 Old Debt Service Interest ($6,250.00) $12,819,110.60 010 GO Bonds-2002 GO Bonds Principal $35,266.02 2007 G.O.Bonds $12,854,376.6 Refinanced-Add New Debt Svc Interest $3,241,25 $12,857,617.8 2004 GO Bonds Refinanced(Fund Principal $2,175,000.00 1999 G.O.Bonds $10,682,617.8 , j k Schedule"V Cumulative as of June 30,2017 I Project Designation; Northeast Industrial Area Tax Increment Redevelopment Area Schedule 1 I Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) 414)-Deduct Old Debt Service Interest $600,422.50 $10,082,195.3 2011 GO Bonds-2004 GO Bonds Principal $2,175,000.00 2011 G.O.Bonds $12,257,195.3 r Refinanced Interest $278,885.44 $12,536,080.81 R&B Enter rises Principal $7,000.00 Advance $12,543,080.81 s McCloud Legal Expenses Principal $258.75 Advance $12,543,339.56 FY15 Administrative Expenses Principal $3,089.46 Advance $12,546,429.02 2013 GO Bonds-Taxable Principal $220,000.00 2013 G.O.Bonds $12,766,429.0 Interest $30,028.19 $12,796,457.21 2013 GO Bonds-Non Taxable Principal $50,000.00 2013 G.O.Bonds $12,846,457.21 Interest $5,775.09 $12,852,232.30 t 2014 GO Bonds-Taxable Principal $315,000,00 2014 G.O.Bonds $13,167,232.30 Interest $46,697.50 $13,213,929.80 DE Engineering Platting Services Principal $0.00 Contract $13,213,929.80 JDE Engineering Roadway Principal $80,400.00 Contract $13,294,329.80 Construction Design JDE Engineering Sewer and Water Advance $112,500.00 $13,406,829.80 Main Construction CRS Contract 3 FY16 NE San Sewer,Water Main Principal $1,211,318.00 Contract $14,618,147.80 i FYE2016 Admin Expenses Advance $4,500.00 $14,622,647.80 a Willard Frost Land Acquisition Principal $1,299,097.00 Contract $15,921,744,80 C FY17 NE San Sewer,Water Main Principal $418,199.50 Contract: $16,339,944.30 FY17 AdinWstrative Expenses Advance $10,65,06 Advance $16,350,594.36 FY17 NE Site Grading Principal $455,9b3.68 Contract $16,806,558.24 $16,806,558.24 j e 3 gF# t F A C t {S k d 6 4 Sp tlg E r. s ff e { i )g 1 8 E rYr I V I' EXHIBIT"B" x Cumlative as of June 30,2016 Project Designation: Northeast Industrial Area Tax Increment Redevelopment a i Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Year Received Amount Received Other Revenue Cumulative Amount from Payments Received under Sec. 402.12(2) 1 FY 1996 $0.00 $0.00 2 FY 1997 $0.00 $0.00 s 3 FY 1998 $0.00 $0.00 J. 4 FY 1999 $201,360.86 $201,360.86 r 5 FY 2000 $110,300.50 $311,661.36 6 FY 2001 $194,966.55 $506,627.91 . 7 FY 2002 $321,469.26 $828,097.1 8 FY 2003 $381,390.68 $1,209,487.85 9 FY 2004 $458,310.16 $1,667,798.01 10 FY2005 $651,752.82 $2,319,550.83 11 FY2006 $464,313.36 $2,783,864.19 12 FY2007 $1,446,002.26 $109,650.08 $4,339,516.53 13 FY2008 $1,063,218.88 $26,036.60 $5,428,772.01 14 FY2009 $891,841.05 $4,972.61 $6,325,585.6 15 FY2010 $862,108.93 $1,153.42 $7,188,848.02 16 FY2011 $665,367.52 $1,239.16 $7,855,454.70 17 FY2012 $594,439.87 $89.63 $8,449,984.20 18 FY2013 $869,000.64 $0.00 $9,318,984.84 19 FY2014 $874,260.30 $0.00 $10,193,245.14 20 FY2015 $1,475,913.82 $0.00 $11,669,158.96 21 FY2016 $1,472,906.19 $2,159.84 $13,144,224.99 22 FY2017 $1,478,984.20 $0.00 $14,623,209.19 23 FY2018* $1,478;984.20 $16,102,193.39 *ESTIMATE s Rev FYE08 thru FYE16 $8,769,057.20 $30,425.80 a Rev Thru FYE07 $4,229,866.45 K s F t i 2 S