HomeMy WebLinkAbout2015-912-11/23/2015 Prepared by Kelley Felchle Deputy City Clerk City of
Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 20157912
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE FY2015 RATH
AREA 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 Rath Area Tax
Increment District, as indicated in attached Exhibit "A" and
Exhibit "B", are hereby approved.
}, PASSED AND ADOPTED this 23rd day of November 2015 .
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ATTEST:
z: Ernest G. Clark, Mayor
Kelley FiAchle
Deputy 9ty 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
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Use One Certification Per Urban Renewal Area I
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City: Waterloo County: Black Hawk
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Urban Renewal Area Name: Waterloo Rath Area Urban Renewal E
Urban Renewal Area Number: 07009 (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*: $ 262,938
*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'.)
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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.) l
A City reducing certified TIF indebtedness by any reason other than application of TIF 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.)
Notes/Additional Information: >
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Please note that we removed$151,786 in debt reductions and revenue adjustments using Form 3 that did not carry s
to this form. Net debt outstanding at 6/30/2015 should be$2,527,191.56.
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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 1 -INDEBTEDNESS CERTIFICATION Page 1
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE
IF
FOR TAX COLLECTIONS NEXT FISCAL YEAR
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City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
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Urban Renewal Area Number: 07009 (Use five-digit Area Number Assigned by the County Auditor)
individual TIF Indebtedness Type/Description/Details: Date Approved`: Total Amount: z
1. 2015 G.O. bonds 06/09/2015 260,100
Principal:$225,000
Interest:$35,100.14
Total:$260,100.14
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FTX this box if a rebate agreement. List administrative details on lines above.
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' 2. Administrative Expenses: $2,838.32 06/29/2015 2,838
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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.
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E]'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.
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If more indebtedness entry lines are needed continue to Form 1.1 Page 2.
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Total For City TIF Form 1.1 Page 1: 262,938
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*"Date Approved"is the date that the focal governing body initially approved the 71F indebtedness. r
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l CITY TIF FORM 3
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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- s
Use One Certification Per Urban Renewal Area
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City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
Urban Renewal Area Number: 07009 (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, '!
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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. u
Individual TIF Indebtedness Type/Description/Details: Amount
Reduced:
lntdrest Earned:$535.12 535
Crystal II Tax Rebate Estimate Adjustment: Decrease of$58,500 58,500
Powers Tax Rebate Estimate Adjustment:Decrease of$92,751.41 92,751
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Total Reduction In Indebtedness For This Urban Renewal Area: 151,786
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Dated this 26th day of November 2015
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319.291.4323
Signature of Authorized Official Telephone t
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Exhibit"A"
Cumulative as of June 30,2015
Project Designation:Rath Tax Increment Redevelopment Area
Schedule 1.
.............. ---------
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
NO
DATE OF ISSUANCE OR SOURCE DESCRIPTION OF CUMULATIVE
EXPENDITURE INDEBTEDNESS AMOUNT
AMOUNT INCURRED
..........
Rath Demolition 7/12/90 Principal $475,000.00 G.O.Bonds $475,000.00
Interest $214,879.93 G.O.Bonds $689,879.93
Powers Manufacturing Expansion 6/12/91 Principal $150,000.00 G.O.Bonds $839,879.93
Interest $63,222.49 G.O.Bonds $903,102.42
Powers Manufacturing Expansion 5/15/92 Principal $150,000.00 G.O.Bonds $1,053,102.42
Interest $60,979.05 G.O.Bonds 1,114,081.47
Powers Manufacturing 6/94 Principal $300,000.00 G.O.Bonds $1,414,08I.47
Interest $208,445.40 G.O.Bonds $1622526.87
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Powers Manufacturing Improvements 6/95 Principal $50,000.00 G.O.Bonds $1,672,526.87
Interest $22,936.28 G.O.Bonds $1,695,463.15
Administration Fees FY 97 Principal $1,068.51 2000 GO Bonds $1,696,531.66
Recording fees FY98 Principal $1,200.00 2000 GO Bonds $1,697,731.66
Demo Grant-Crystal Principal $100,000.00 99,00 GO Bonds $1,797,731,66
Interest on Advance 99-00 Principal $11,178.22 2000 GO Bonds $1,808,909.88
Land Improvements 3-00 Principal $12,400.00 1998 GO Bonds $1,821,309.88
Interest on$125,846.73 Interest $74,646.27 98,99,00 GO Bonds $1,895,956.15
........... ............
Crystal Ice Rebate 75%2002 Principal $96,488.74 Tax Rebate $1,992,444.89 rf
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60% 2003 $77,119.20 $2,069,564.09
45% 2004 $60,475,50 $2,130,039.59
30% 2005 $46,819.80 $2,176,859—.39
15% 2006 $24,076.87 $2,200,936.26 $304 980.19
Crystal 11 Fund 406 Principal $450,000.00 2006 GO Bonds $2,650,936.26
Interest $252,561.30 2006 GO Bonds $2,903,-497.56
Crystal 11 Rebate 70% 2014 Principal $0.00 Tax Rebate $2,903,497.56
70% 2015 $0,00 $2,903,497.56
70% 2016* $58,500.00 $2,961,997,56
70% 2017* $58,500.00 $3,020,497,56
...............
70% 2018* $58 500.00 $3,078,997.56
70% 2019* 58,500.00 $3,137,497.56
70% 2020* $58,500.00 $3,195,997.56
70% 2021* $58,500,00 $3,254,497.56
.............. .........
70% 2022* $58,500,00 $3,312,997.56
70% 2023* $58,500.00 $3,371,497.56 $468,000..W
2001 GO Bonds,000.00 1
Rath Area Redevelopment Principal $115 $3,486,497.56
Fund 411 6/01 Inteiest $54,605.87 2001 GO Bonds $3,541,103.43
Rath Area Redevelopment Principal $29,183.76 2002 GO Bonds $3,570,287.19
Fund 412 Interest $10,890.01 2002 GO Bonds $3,581,177.20
Rath Area Redevelopment Principal $121,885.41 2003 GO Bonds $3,703,062.61
Fund 413 Interest $29,182.00 2003 GO Bonds $3,732,244,61
Rath Area Redevelopment Fund Principal $102,488.00 2003 GO Bonds $3,834,732.61
413 Interest $46,034.00 2003 GO Bonds $3,880,766.61
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Rath Area Redevelopment Principal $75,000.00 2004 GO Bonds $3,955,766.61
Fund 414 Interest $32,317.50 2004 GO Bonds $3,988,084.11
Rath Area Redevelopment Fund Principal $61,994.76, 2004 GO Bonds $4,050,078.87
414 Taxable From NE Ind,Park Interest $30,268.97 2004 GO Bonds $4,080,347.84
Rath Area Development Fund Principal $6,656.31 2004 GO Bonds $4,087,004.15
414 From NE Ind.Park Interest $3,250.34 2004 GO Bonds $4,090,254.49
1999 GO Bonds Refinanced-Deduct Old Debt Principal ($44,472.00) 1999 GO Bonds $4,045,782.49
Service Interest 1 ($16,04100) 1999 GO Bonds $4,029,739.4
1999 GO Bonds Refinanced-Add New Debt I Principal $44,794.001 2007 GO Bonds $4,074 523,491 —j
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Exhibit"A" '
Cumulative as of June 30,2015
__....... _._ ... ....__. . ........ .......... -
Project Designation:Rath Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement s
Under Section 403.19(2)
DATE OF ISSUANCE OR DESCRIPTION OF CUMULATIVE
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EXPENDITURE SOURCE INDEBTEDNESS AMOUNT s
AMOUNT INCURRED
Service-Fund 407 --
Interest $12,532.00 2007 GO Bonds $4 087 055.49
2000 GO Bonds Refinanced-Deduct Old Debt Principal $50,413.73 1999 GO Bonds $4,036,641.76 '
Service Interest $8,123.00 1999 GO Bonds $4,028,518.76
2000 GO Bands Refinanced-Add New Debt Principal $50,413.73 2007 GO Bonds $4,078,932.49
Service-Fund 407 'Interest $316.00 2007 GO Bonds $4,079,248.49 a
Rath Area Redevelopment Fund Principal $150,000.00 2007 GO Bonds $4,229,248.49
407(taxable)
r ( ) Interest $52,301.50 .2007 GO Bonds $4,281,549.99
Rath Area Redevelopment Fund Principal $100,000.00 2008 GO Bonds $4,381,549.99
408(taxable) Interest $27,500.00 2008 GO Bonds $4,409,049.99
Rath Area Redevelopment Fund Principal $50,000.00 2009 GO Bonds $4,459,049.99
409 taxable ___.. .._...f_............----- 1
( ) Interest $11,665.81 2009 GO Bonds $4,470,715.80
' Asbestos Removal-Rath Admin Bldg Principal $125,008.37 Advance $4,595,724.17
2001 GO Bond Original Interest-Ref Interest ($11,073.87) 2001 GO Bonds $4,584,700.30
2009 GO Bonds-2001 GO Bonds Ref Interest $7,472.88 2009 GO Bonds $4,592,173.18
Asbestos Removal-Rath Admin Bldg Principal $122,943.56 Advance $4,715,116.74
Secor Economic Dev Grant Principal $104,400.00 Advance $4,819,516.74
Loan Document Preparation Principal $9,764.34 Advance $4,829,281.08
CMC Site Purchase Principal $155,019.00 Advance $4,984,300.08
Rath Area Redevelopment Fund Principal $350,000.00 2010 GO Bonds $5,334,300.08
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410(taxable) j
( ) Interest $67,122.08 2010 GO Bonds $5,401,422.16 1
....... ...
Rath Area Redevelopment Fund Principal $144,000.00 2010 GO Bonds $5,545,422.16
410(taxable) ---_........ ...... .._._..._-----
{ ) lnterest $27,764.69 2010 GO Bonds $5,573,186.85
Rath Public Works Building-Fund 410" Principal` $700,000.00 2010 GO Bonds $6,273,186.85
(exempt) Interest $93,209.08 2010 GO Bonds $6,366,395.93 j
2002 GO Bonds Refinanced-Deduct Old Debt Principal ($15,183,761 2002 GO Bonds $6 351 212.17 i
Service Interest $2,797.01 2002 GO Bonds $6 348 415.16
2002 GO Bonds Refinanced-Add New Debt Principal _$15,390.68 2010 GO Bonds $6,363,805.84
Service-Fund 410 Interest $1,450.53 2010 GO Bonds $6,365,256.37 ,
625 Glenwood Acquisition Principal $355.00 Advance $6,365,611.37
BCRLF Loan Repayment-CMC Clean-up Principal $280,000.00 Advance $6,645,611.37
Secor RR Spur FY11 Principal $99,111.32 Advance $6,744,722.69
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123 Stanley Acquisition FY11 Principal $359,459.00 Advance $7,104,181.69
t Secor RR Spur FY12 Principal $94,776.85 Advance $7,198,958.54
123 Stanley Acquisition FY12 Principal $100,000.00 Advance $7,298,958.54
1823 Black Hawk St Acquisition FY12 Principal . $12,237.92 Advance $7,311,196.46
Secor RR Spur FY13 Principal $17,999.81 Advance $7,329,196.27
Secor RR Spur FY14 Principal $17,540.73Advance $7,346,737.00
2004 GO Bonds Refinanced(Fund 414)-Deduct Principal $=1.0,000.00 `2002 GO Bonds $7,306,737.00
Old Debt Service Interest ($10,355.00) 2002 GO Bonds $7,296,382.00
_._....----........
. —---
i 2004 GO Bonds Refinanced(Fund 414)-Add New Principal- $40,000.00 2010 GO Bonds $7,336,382.00
Debt Service-Fund 411 Interest $5,560.56 2010 GO Bonds $7,341,942.56
2006 GO Bonds Refinanced(Fund 406)-Deduct Principal $31.5,000.00 2006 GO Bonds $7,026,942.56
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.__....__...._.....
r OId Debt Service Interest $87,547.52 2006 GO Bonds $6,939,395.04
2006 GO Bonds Refinanced(Raid 406)-Add New Principal $315,000.00 2013 GO Bonds $7,254,395.04
Debt Service-Fund 413(FY13) Interest $26,047.80 2013 GO Bonds $7,280,442.8 r
2003 GO Bonds Refinanced(Fund 413)-Deduct Principal ($54,851.41), 2006 GO Bonds $7,225,591.43
Old Debt Service Interest $5,749,00 2006 GO Bonds $7,219,842.4.1A 1
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' Exhibit"A" '
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Cumulative as of June 30,2015 4
Project Designation Rath Tax Increment Redevelopment Area
Schedule 1
_ - -- — . ....... ... _ .......... ...
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19 2
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DATE OF ISSUANCE OR DESCRIPTION OF CUMULATIVE
LNO EXPENDITURE SOURCE INDEBTEDNESS AMOUNT ji
AMOUNT INCURRED
2003 GO Bonds Refinanced(Fund 413)-Add New Principal $54,851.41 2013 GO Bonds $7,274,693.84
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Debt Service-Fund 412(FY12) Interest $1538.19 2013 GO Bonds $7,276,232.03
2007 GO Bonds Refinanced(Fund 407)-Deduct Principal $21,652.00 2007 GO Bonds $7,2!54,580.03 I
Old Debt Service Interest $2,569.00 2007 GO Bonds $7,252,011.03
2007 GO Bonds Refinanced(Fund 407)-Add New Principal $21,652.001 2014 GO Bonds $7,2 3663.03 c
Debt Service-Fund 414(FY14) Interest $1,916.001 2014 GO Bonds $7,275,579,03
Rath Area Redevelopment Fund Principal $370,90 .00 2013 GO Bonds $7,645,579.03
413 taxable Interest $49,279.11 2013 GO Bonds $7,694,858.14 s
Principal $85,000.00 2014 GO Bonds $7,779,858.14
Rath Area Redevelopment Fund p
414(taxable) Interest $13,051.18 2014 GO Bonds $7,792,909.32
Rath Area Redevelopment Principal $225,000.00 2015 GO Bonds $8,017,909.32
Fund 415(Taxable). Interest $35,100.14 2015 GO Bonds $8,053,009.46
Administration Expenses FY15 Principal $2,838.32 Advance $8,055,847.78
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EXHIBIT"B"
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Cumulative as of June 30, 2015 z
Project Designation: Rath Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received from
Year Payments under Sec. Other Revenue 4
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No. Received 402.12(2) Received Cumulative Amount
1 FY 1992 $0.00 $0.00
2 FY 1993 $0.00 $0.00
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3 FY 1994 $0.00 $0.00
4 FY 1995 $0.00 $0.00
5 FY 1996 $22,881.52 $22,881.52
6 FY 1997 $24,374.46 $47,255.98
7 FY 1998 $24,812.00 $72,067.98 l
8 FY 1999 $44,009.63 $116,077.61 r
9 FY 2000 $43,454.87 $159,532.48 I`
10 FY 2001 $90,959.54 $250,492.02
11 FY 2002 $171,794,01 $422,286.03 I
12 FY 2003 $199,314.21 $621,600.24 I
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13 FY 2004 $195,574,51 $817,174.75 z
14 FY 2005 $273,005.03 $1,090,179.78
15 FY 2006 $243,503.71 $1,333,683.49
16 FY2007 $389,654.09 $38,456:17 $1,761,793.75
17 FY2008 $395,139.29 $14,337,72 $2,171,270.76 3
18 FY2009 $569,358.38 $5,156.91 $2,745,786.05
19 FY2010 $574,520.69 $1,620,21 $3,321,926.95
p 20 FY2011 $558,081.89 $1,597.28 $3,881,606.12
21 FY2012 $540,285.80 $0.00 $4,421,891.92
22 FY2013 $401,074.75 $0.00 $4,822,966.67
23 FY2014 $398,309.97 $75.64 $5,221,352.28
24 FY2015 $306,768.82 $535.12 $5,528,656.22
25 FY2016" $306,768.82 $5,835,425.04
*estimated Values
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