HomeMy WebLinkAbout2015-913-11/23/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2015-913
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE
FY2015 MARTIN ROAD 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 Martin Road 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:
el ey Fe chle
Deputy Cilty Clerk
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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
Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested f
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Use One Certification Per Urban Renewal Area :
City: Waterloo County: Black Hawk
Urban Renewal Area Name; Martin Road Urban Renewal
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Urban Renewal Area Number: 07016 (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, stone 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.
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Urban Rendwal Area Indebtedness Not Previously Certified*' $ 339,535
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*There must be attached a supporting itdmized 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 a
for each of those fiscal years where all of the TIF increment tax is not requested.) '
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A City reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from is
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 T with the County Auditor when TIF indebtedness has been reduced by any
reason other than application of TIF increment tax receivedfrom the County Treasurer.)
Notes/Additional Information:
Please note that we removed $32,466 in debt reductions and revenue adjustments using Form 3 that did not carry
to this form. Net debt outstanding at 6/30/2015 should be$2,678,755.12.
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Dated this 26th day of November 2015
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319.291.4323
'Signature of Authorized Official Telephone
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM 1 -INDEBTEDNESS CERTIFICATION Page 1
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo County: Black Hawk
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Urban Renewal Area Name: Martin Road Urban Renewal
Urban Renewal Area Number; 07016 (Use five-digit Area Number Assigned by the County Auditor)
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Individual TIF Indebtedness Type/Description/Details: Date Approved*: Total Amount:
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1. Wilbert Burial Vault Tax Rebate Estimate Adjustment: $322.75 10/25/2004 323
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x]'X'this box if a rebate agreement. List administrative details on lines above.
2. Avita Developments,LLC Tax Rebate Estimate:$118,928 05/20/2013 118,928
8 years at 50%
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xl'X'this box if a rebate agreement. List administrative details on lines above. I
3. Senad Dizdarevic Tax Rebate Estimate:$70,482 02/03/2014 70,482
6 years at 80%, 3 years at 70% r
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Rx Xthis box if a rebate agreement. List administrative details on lines above.
4. 2015 G.O. Bonds(Taxable) 06/09/2015 65,683
Principal:$57,000
Interest:$8,683.13 i
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Total:$65,683.13
n'Xthis box if a rebate agreement. List administrative details.on lines above.
S. Deer Creek Economic Development Grant 06/11/2012 80,000
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[J'Xthis box if a rebate agreement. List administrative details on lines above. l
If more indebtedness entry lines are needed continue to Form 1.1 Page 2. I
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Total For City TIF Form 1.1 Page 1: 335,416
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*"Date Approved"is the date that the local governing body initially approved the TIF indebtedness.
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM 1 -INDEBTEDNESS CERTIFICATION Page 2 i
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TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR I
City: Waterloo County: Black Hawk
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Urban Renewal Area Name: Martin Road Urban Renewal
Urban Renewal Area Number: 07016 (Use five-digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details: Date Approved": Total Amount:
6. Administrative Expenses:$4,119.45 06/29/2015 4,119
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[]'X'this box if a rebate agreement. List administrative details on lines above,
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n'X'this box if a rebate agreement. List administrative details on lines above.
8.
E]'X'this box if a rebate agreement. List administrative details on lines above.
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El'X'this box if a rebate agreement. List administrative details on lines above. x
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OW this box if a rebate agreement. List administrative details on lines above.
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If more indebtedness entry lines are needed continue to Form 1.1 Page 3.
Total For City TIF Form 1.1 Page 2: 4;119
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""Date Approved"is the date that the local governing body initially approved the TIF indebtedness.
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CITY TIF FORM 3
2
TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
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CERTIFICATION TO COUNTY AUDITOR
Use One Certification Per Urban Renewal Area
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City: Waterloo County: Black Hawk
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Urban Renewal Area Name: Martin Road Urban Renewal
Urban Renewal Area Number: 07016 (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 reduced previously certified indebtedness, by reason other than application of TIF increment tax received
from the County Treasurer, by the total amount as shown below.
Provide sufficient detail so that the County Auditor will know how to specially administer your request. For example,
you could have multiple indebtedness certifications in the Urban Renewal Area, and the County Auditor would need
to know which particular indebtedness certifcation(s)to reduce.. If rebate agreements are involved with a reduction,
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five-digit
county increment taxing district numbers for reference.
Individual TIF Indebtedness Type/Description/Details: Amount
Reduced:
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Interest received during FY15: $583.98 584
SVW Properties, LLC Tax Rebate Estimate Adjustment: Decrease of 4,644 4,644
Riley Tax Rebate Estimate Adjustment:Decrease of$500 500
JARF Tax Rebate Estimate Adjustment: Decrease of$4,404 4,404
PTL Properties,LLC Tax Rebate Estimate Adjustment:Decrease of$8,712 8,712
Young Development Tax Rebate Estimate Adjustment:Decrease of$984.42 984 j
Watessa Tax Rebate Estimate Adjustment:Decrease of$12,638 12,638
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Total Reduction In Indebtedness For This Urban Renewal Area: 32,466 j
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Dated this 26th day of November 2015
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319.291.4323
Signature of Authorized Official Telephone
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Exhibit"A
Cumulative as of June 30,2015
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1 a
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2) s
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DATE OF E
* NO. ISSUANCE OR SOURCE
DESCRIPTION OF Cumulative
EXPENDITURE INDEBTNESS Amount 1
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AMOUNT INCURRED x
Recording Fees FY 1998-1999 Principal $4.64.50 1999 GO Bonds $464.50
Design&Construction
Engineering FY 1997-2001 Principal $20,328.07 1999 GO Bonds $20,792.57 i
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FY 1999-2001 Principal $165,433.36 1999 GO Bonds $186,225.93 p
Construction of Road
&SewerFinancing FY 1998-2000 Interest $148,169.07 1999 GO Bonds $334,395.00
Brock Inc.Property 5/18/2004 Principal $385,000.00 Contract $719,395.00
Contract
Interest $55,598.78 $774,993,78 s
Denso Project Expenses FY 2004 Principal $51,218.16 2002 GO Bonds $826,211.94
-Fund 412 Interest $20,299.47 2002 GO Bonds $846,511.41
Martin Road FY200b Principal $100,000.00 2006 GO Bonds $446,511.41
Developenent-Fund 406
Interest $57,473.78 $1,003,985.19
Denso Tax Rebates Principal TIF Rebate $1,003,985.19
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
90%2015 $19,390.00 $1,277,117.93
90%2016* $19,18100 $1,296,301.93
90%2017* $11,307.19 $1,307,609.12
Rain Soft Rebates TIF Rebate $1,307,609.12
100% 2009 $12,844.23 $1,320,453.35
100% 2010
Principal $12,698.00 $1,333,151.35 i
100% 2011 ,$12,716.00 $1,345,867.35
100% 2012 $12,598.00 $1,358,465.35
100% 2013 $13,124.00 $1,371,589.35
Young Development TIF Rebate
(Country Estates) $1,371,589.35
100% 2010 $16,100.00 $1,387,689.35
100%2011 $16,122.00 $1,403,811.35
100% 2012 $15,972.00 $1,419,783.35
100% 2013 Principal $15,216.00 $1,434,999.35
100% 2014 $14,216.00 $1,449,215.35
100% 2015 $12,757.00 $1,461,972.35 �
1000A 2016* $12,974.00 $1,474,946.35
100% 2017* $12,974.00 $1,487,920.35
100% 2018* $5,854.94 $1,493,775.29
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Exhibit"A
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Cumulative as of June 30,2015
Project Designation; Martin Road Tax Increment Redevelopment Area
Schedule 1 °
Indebtedness Qualifying for Tax Increment Reimbursement i
Under Section 403.14 2
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Stephen Riley TIF Rebate $1,493,775.29
100% 2010 $19,498.00 $1,513,273.29
100% 2011 $19,548.00 $1,532,821.29 [
100% 2012 Principal $19,368.00 $1,552,189.29
100% 2013 $16,028.00 $1,568,217.29
100% 2014 $14,972.00 $1,583,189.29
100% 2015 $13,496.00 $1,596,685.29
Maurer TIF Rebate $1,596,685.29
100% 2011 $56,178.00 $1,652,863.29
100% 2012 Principal $55,656.00 $1,708,519.29
100% 2013 $65,472.00 $1,773,991.29
1001,'2014 $61,164.00 $1,835,155.29
100% 2015 $58,426.00 $1,893,581.29 a.
JARF(Fahr Beverage) TIF Rebate $1,893,581.29
100% 2011 $22,268.00 $1,915,849.29
100% 2012 $22,062.00 $1,937,911.29
100% 2013 Principal $20,642.00 $1,958,553.29 1.
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100% 2014 $19,284.00 $1,977,837.29
100% 2015 $15,156.00 $1,992,993.29
100% 2016* $15,254.00 $2,008,247.29
Watessa TIF Rebate $2,008,247.29
100% 2012 $41,396.00 $2,049,643.29
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100% 2013 $48,422.00 $2,098,065.29
100% 2014 $45,238.00 $2,143,303.29 p 1
100% 2015 $42,952.00 $2,186,255.29 1
68% 2016* Principal $25,130.00 $2,211,385.29
50% 2017* $20,400,00 $2,231,785.29
50% 2018* $20,400.00 $2,252,185.29
50% 2019• $20,400.00 $2,272,585.29
50% 2020* $20,400.00 $2,292,985.29
50% 2021* $20,400,00 $2,313,385.29
Deer Creek $2,313,385.29
2011 $3w,000.00 $2,613,385.29
2012 $200,000.00 $2,813,385.29 1
2013 $200,000.00 $3,013,385.29
2014
$200,000.00 $3,213,385.29 °s
2015 $200,000.00 $3,413,385.29
2016 $200,000.00 $3,613,385.29
2017 $200,000.00 $3,813,385.29 ±
2018 Principal $200,000.00 $4,013,385.29
2019 $200,000.00 $4,213,385.29
2020 $200,000.00 $4,413,385.29
2021 $200,000.00 $4,613,385.29 i
2022 $200,000.00 $4,813,385.29 j
2023 $200,000.00 $5,013,385.29
2024 $200,000.00 $5,213,385.29
2025 $200,000.00 $5,413,385.29
2026 $142,%9.94 $5,556,355.23
Corstang Enterprises $5,556,355.23
L 2013 $38,063.00 $5,594,418.23
,. 2014 Principal $181130.00 $5,612,548.23
2015 $0.00 $5,612,548.23
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2016 $0.00 $5,612,548.23 E
PTL Properties,LLC TIF Rebate $5,612,548.233
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Exhibit"A
Cumulative as of June 30,2015
Project Designation; Martin Road Tax Increment Redevelopment Area k
ScheduIel
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2) ?
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100% 2013 $26,946.00 $5,639,494.23
100% 2014 $23,534.00 $5,663,028.23
100/. 2015 $21,864.00 $5,684,892.23
100% 2016* $18,612.00 $5,703,504.23
22% 2017* Principal $4,670.00 $5,708,174.23
50% 2018* $10,612.00 $5,718,786.23
50% 2019* $10,612.00 $5,729,398.23
50% 2020* $10,612.00 $5,740,010.23
50% 2021* $10,612.00 $5,750,622.23
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50% 2022* $10,612.00 $5,761,234.23
SVW Properties,LLC TIF Rebate $5,761,234.23
100% 2013 $27,170.00 $5,788,404.23
100% 2014 $24,396.00 $5,812,800.23 s
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190% 2015 $22,704.00 $5,835,504.23
100% 2016* $22,454.00 $5,857,958.23
22% 2017* Principal $4,940.00 $5,862,898.23 }
50% 2018* $11,228.00 $5,874,126.23 4
50% 2019* $11,228.00 $5,885,354.23 €
50% 2020* $11,228.00 $5,896,582.23 .
50% 2021* $11,228.00 $5,907,810.23 g
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50% 2022* $11,228.00 $5,919,038.23
Avita Developments,LLC
501/.2016* $14,866.00 $5,933,904.23
50%2017* $14,866.00 $5,948,770.23 t I
50%2018* $14,866.00 $5,963,636.23
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50%2019* Principal $14,866.00 $5,978,502.23 p
50%2020* $14,866.00 $5,993,368.23
50%2021* $14,866.00 $6,008,2340
50%2022* $14,866.00 $6,023,100.23
50%2023* $14,866.00 $6,037,966.23
Senad Dizdarevic
80%2017* $8,172.00 $6,046,138.23
80%2018* $8,172.00 $6,054,310.23
80%2019* $8,172.00 $6,062,482.23
80%2020* $8,172.00 $6,070,654.23
80%2021* Principal
$8,172.00 $6,078,826.23
80%2022* $8,172.00 $6,086,998.23
70%2023* $7,150.00 $6,094,148.23 [
70%2024* $7,150.00 $6,101,298.23 E
70%2025* $7,150.00 $6,108,448.23
1999 GO Bonds Refinanced-Deduct Old Debt Principal -$82,507.00 $6,025,941.23
Service 1999 GO Bonds
- Interest -$29,395.00 $5,996,546.23 I
1999 GO Bonds Refinanced-Add New Debt Principal $82,971.00 $6,079,517.23
Service-Fund 407 Interest2007 GO Bonds
$23,222,00 $6,102,739.23
Martin Road Dev, FY2007 Principal $50,000.00 2007 GO Bonds $6,152,739.23 r
(taxable) Interest $17,728.00 $6,170,467.23 s
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Martin Road Dev. pY 2008 Principal $80,000.00 2008 GO Bonds $6,250,467.23
(taxable) Interest $25,000.00 $6,275,467.23
Corstang Purchase FY2009 Principal $196,020.00 Advance $6,471,487.23 x
San Sewer Design IFY2010 Principal $558.00 Advance $6,472,045.23
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San Sewer Design IFY2011 Principal $425.50 Advance $6,472,470.73 l
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2002 GO Bonds Refinanced-Deduct Old Debt Principal ($29,=103,28) $6,443,067.45
Service 2002 GO Bonds
Interest ($5,907.08) $6,437,160.37 j
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Exhibit A
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Cumulative as of June 30,2015 }
Project Designation: Martin Road Tax Increment Redevelopment Area
1. Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19 2
002 GO Bonds Refinanced-Add New Debt Principal $29,639.76 $6,466,800,13
Service-Fund 410 2010 GO Bonds
Interest $3,063.42 $6,469,863.55 E
2006 GO Bonds Refinanced-Deduct Old Debt Principal ($75,010.00} $6,394,863.55 £
Service 2006 GO Bands Interest ($20,421..26) $6,374,442.29
2006 GO Bonds Refinanced-Add New Debt Principal $75,000.00 $6,449,442.29
ervice-Fund 413(FY13) 2013 GO Bonds E
Interest ' $5,788.40 $6,455,230.69
Reallocate Fund 407 G.O.Bonds to San Principal (.448,071.35) $6,407,159.34
Marnan 2007 G.O.Bonds
Interest ($17,04418) $6,390,115.16
Reallocate Fund 408 G.O.Bonds to San Principal ($80,1)00.00) $6,310,115.16
Martian Interest ($25,000.00) 2008 G.O.Bonds x$6,285,115.16
2007 GO Bonds Refunded-Deduct Old Debt Principal ($40,115.00) $6,245,000.16 9
Service 2007 G.Q.Bonds
Interest ($=1,761.00) $6,240,239.16 s
2007 GO Bonds Refinanced-Add New Debt Principal $40,115.00 $6,280,354.16 1
Service(Fund 414) 2014 G.O.Bonds x
Interest $3,550.00 $6,283,904.16 1
Martin Road Dev. FY 2011 Principal $100,000.00 2011 GO Bonds $6,383,904.16
(taxable) Interest $37,730.31 $6,421,634.47
Martin Road Dev. FY2015 Principal $57,000.00 2015 GO Bonds $6,478,634.47
(taxable) Interest $8,683.13 $6,487,317.60
Development Serv. FY2011 Principal' $1,200.00 " Advance $6,488,517.60
Failor-Hurley Grant FY2011 Principal $80,000.00 Advance $6,568,517.60
Failor-Hurley Grant FY2012 Principal $17.00 Advance $6,568,534.60
Deer Creek Dev. FY2013
Principal $80,000.00 Grant $6,648,534,60
Deer Creek Dev. FY2015 Principal $80,000.00 Grant $6,728,534.60 1
Administrative Expenses FY15 Principal $4,119.45 Advance $6,732,654.05
San Sewer Design IFY2012 lPrincipal $1,505.00 Advance $6,734,159.05
*estimated
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EXHIBIT "B"
Cumulative as of June 30,2015
Traject Designation; Martin Road'Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received
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 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 TY2006 $150,499.75 $564,462.61 t
11 FY2007 $171,278.42 $101,903.67 $837,644.70
12 FY2008 $204,129.43 $18,939.01 $1,060,713.14
13 FY2009 $255,746.77 $5,108.00 $1,321,567.91
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is 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 s
18 FY2014 $522,759.56 $188.85 $3,529,471.71
19 FY2015 $525,348.24 $583.98 $4,055,403.93-
20 FY2016* $525,348.24 $4,580,752.17
*- Estimated
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