HomeMy WebLinkAbout2015-916-11/23/2015 Prepared by Kelley Fel'chle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2015-916
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE
FY2015 CATTLE CONGRESS 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 Cattle Congress
Tax Increment District, as indicated in attached Exhibit "A" and
Exhibit "B", are hereby approved.
PASSED AND ADOPTED this 23rd day of November 2015.
Ernest G. Clark, Mayor
ATTEST
e ley elchle
Deputy ity Clerk
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Exhibit "A
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June 30,2015
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Project Designation: Cattle Congress Tax Increment Redevelopment Area
Schedule I
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Indebtedness Qualifying for Tax Increment Reimbursement
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Under Section 403.1-9(2)
DATE OF
I NO. ISSUANCE OR SOURCE DESCRIPTION OF INDEBTNESS
Cumulative
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A
EX ENDITURE mount
AMOUNT INCURRED
FY2004 $0.00
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FY2005 $0.00
FY2006 $0.00
FY2007 a $0.00
FY2008 $0.00
FY2009
$0.00
FY2010 $0.00 k.
FY2011 $0.00 3
FY2012 $0.00
FY2013 $0.Q0
FY2014 $0.00
FY2015 $0,00
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EXHIBIT "B"
a
June 30,2015
Project Designation: Cattle Congress Tax Increment Redevelopmen
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403,19(2)
No. Year Received Received from Amount
1 FY204 $0.00 $0.00
2 FY2005 $0.00 $0.00
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3 FY2006 $0.00 $0.00
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4 FY2007 $0.00 $0.00
5 FY2008 $0.00 $0.00
6 FY2009 $0.00 $0.00
7 FY2010 $0.00 $0.00
8 ' FY2011 $0.00 $0.00
9 FY2012 $0.00 $0.00
10 FY2013 $0.00 $0.00
11 FY2014 $0.00 $0.00
121 FY2015 $0.00 $0.00
*- Estimated
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CITY TIF FORM 1-INDEBTEDNESS CERTIFICATION Cover Sheet
CODE OF IOWA SECTION 403.19 TAX INCREMENT FINANCING(TIF) INDEBTEDNESS
CERTIFICATION TO COUNTY AUDITOR
j Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested
Use One Certification Per Urban Renewal Area
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Crossroads Urban Renewal
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Urban Renewal Area Number: 07305 (Use five-digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above the
City has outstanding loans, advances, indebtedness,or bonds, none of which have been previously certified, in the
collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2
of Section 403.19 of the Code of Iowa.
Urban Renewal Area Indebtedness Not Previously Certified*: $ 895,426
*There must be attached a supporting itemized listing of the dates that individual loans, advances, indebtedness, or
bonds were initially approved by the governing body. (Complete and attach'CITY TIF FORM 1.1'.)
The County'"Auditor shall provide the available TIF increment tax in subsequent fiscal years without further certification
until the above-stated amount of indebtedness is paid to the City. However,for any fiscal year a City may elect to
receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or
before the preceding December 1. (File'CITY TIF FORM 2'with the County Auditor by the preceding December 1
for each of those fiscal years where all of the TIF increment tax is not requested,)
A City reducing certified TIF indebtedness by any reason other than application of TI F increment tax received from
the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year
of occurrence. (File'CITY TIF'FORM 3'with the County Auditor when TIF indebtedness has been reduced by any
reason other than application of TIF increment tax received from the County Treasurer.)
NoteslAdd itional Information;
Dated this 26th day of November 2015
319.291.4323
Signature of Authorized Official Telephone
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM t-INDEBTEDNESS CERTIFICATION Page i
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Crossroads Urban Renewal
Urban Renewal Area Number: 07305 (use five-digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details: Date Approv6d*: Total Amount.-
1.
mount:1. Crossing Point,LLC 9/16/2013 535,826
Rebates 10 years at 50%over$2,100,000 base value
Q'X'this box if a rebate abreement. List administrative details on lines above.
2. Shri Ganapati&Bajrangbalie,Inc.d/b/a Fairfield inn 9/16/2013 359,600
Rebates 8 years at 50%over$3,540 base value
XI'X'this box if a rebate agreement. List administrative details on lines above.
3.
FTX this box if a rebate agreement. List administrative details on lines above.
4.
E'X this box if a rebate agreement. List administrative details on lines above.
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E]`X'this box if a rebate agreement. List administrative details on lines above.
If more indebtedness entry lines are needed continue to Form 1.1 Page 2.
Total For C'rty.71F Form 1.1 Page 1: 895,426
*"Date Approved"is the date that the local governing body initially approved the TIF indebtedness_