HomeMy WebLinkAbout2015-917-11/23/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2015-917
RESOLUTION APPROVING CERTIFICATION TO THE
-BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR I REIMBURSEMENT IN THE
FY2015 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 . 4
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 Crossroads
Waterloo Tax Increment District, as indicated in attached Exhibit
"'A" and Exhibit "B", are hereby approved.
PASSED AND ADOPTED this 23rd day of November 2015.
e
Ernest G. Clark, Mayor
ATTEST: �
Kelley rlllcle
Deputy ity Clerk
i
L.
s Exhibit"A"
June 30,2015
Project Designation: Crossroads Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 03.19(2)
DATE OF
NO. ISSUANCE OR SOURCE DESCRIPTION OF INDEBTNESS Cumulative
EXPENDITURE Amount
AMOUNT INCURRED
Crossing Point 50%2016 Principal ' $51,230.00 Rebate $51,230.00
50%2017 $53,844.00 $105,074,00
50%2018 $53,844.00 $158,918.00
50%2019 $53,844.00 $212,762.00
50%a 2020 $53,844.00 $266,606.00
50%2021 $53,844.00 $320,450.00
50%2022 $53,844.00 $374,294.00
50%2023 $53,844.00 $428,138.00
50%2024 $53,844.00 $481,982,00
50%2025 $53,844.00 $535,826.00
Fairfield Inn 50% 2018 Principal $44,950.00 Rebate $580,776.00
50%2019 $44,950.00 $625,726.00
50%2020 $44,950,00 $670,676.00
50%2021 $44,950.00 $715,626.00
50%2022 $44,950.00 $760,576.00
50%2023 $44,950.00 $805,526.00
50%2024 $44,950.00 $850,476.00
50%2025 $44,950.00 $895,426.00
Dupaco 60%2019 Principal $15,752.00 Rebate $911,178.00
50%2020 $15,752.00 $926,930.00
50%2021 $15,752.00 $942,682.00
$0.00 $942,682.00
Exhibit"B"
June 30,2015
Project Designation: CrossroadsTax Increment Redevelopment Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2
No. Year Received Received from Other Revenue Cumulative Amount
1 FY2017 $0.00 $0.00 $0.00
2 FY2018 $0.00 $0.00 $0.00
3 FY2019 $0.00 $0.00 $0.00
4 FY2020 $0.00 $0.00 $0.00
5 FY2021 $0.00 $0.00 $0.00
6 FY2022 $0.00 $0.00 $0.00
7 FY2023 $0.00 $0.00 $0.00
81 FY2024 $0.00 $0.00 $0.00
9 FY20125 $0.00 $0.00 $0.00
10 FY2026 $0.00 $0.00 $0.00
11 FY2027 $0.00 $0.00 $0.00
12 FY2028 $0.00 $0.00 $0.00
*-Estimated