HomeMy WebLinkAbout5323-12/14/2015Prepared by Kel.leyFelchle, Deputy City Clerk, City of Waterloo,
715 Mulberryl`Street,•°Waterloo, IA' 50703, (319) 291-4323.
ORDINANCE NO. 5323
AN ORDINANCE AMENDING ORDINANCE NOS. 3912, 4749
AND 4902, AND PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON ALL
PROPERTY LOCATED WITHIN THE AMENDED AND RESTATED
EAST WATERLOO UNIFIED URBAN RENEWAL AND
REDEVELOPMENT AREA OF THE CITY OF WATERLOO, COUNTY
OF BLACK HAWK, STATE OF IOWA, BY AND FOR THE
BENEFIT OF THE STATE OF IOWA, CITY OF WATERLOO,
COUNTY- OF BLACK HAWK, WATERLOO COMMUNITY SCHOOL
DISTRICT, AND OTHER TAXING DISTRICTS, BE PAID TO A
SPECIAL FUND FOR PAYMENT OF PRINCIPAL AND INTEREST
ON LOANS, MONIES ADVANCED TO AND INDEBTEDNESS,
INCLUDING BONDS ISSUED OR TO BE ISSUED, INCURRED
BY SAID CITY IN CONNECTION WITH THE AMENDED AND
RESTATED EAST WATERLOO UNIFIED URBAN RENEWAL AND
REDEVELOPMENT AREA PROJECT.
WHEREAS, the City Council of the City of Waterloo, Iowa (the
"City") previously has found and determined that certain areas
located within the City are eligible and should be designated as
an urban renewal area under Iowa law, and has approved and adopted
the Airport Area Development Plan, as amended (the "Airport
Plan"), for the Airport Area Development Plan Urban Renewal Area
(the "Airport Urban Renewal Area") described therein, which
Airport Plan is on file in the office of the City Clerk; and
WHEPEAS,.`the`City Council also has found and determined that
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certain other areas located within the City are eligible and
should be designated as an urban renewal area under Iowa law, and
has approved and adopted the Logan Avenue Urban Renewal and
Development Plan, as amended (the "Logan Plan") for the Logan
Avenue Urban Renewal and Redevelopment Area (the "Logan Urban
Renewal Area") described therein, which Logan Plan is on file in
the office of the City Clerk; and
WHEREAS, the Council has heretofore provided for the division of
taxes within the Airport Urban Renewal Area and the Logan Urban
Renewal Area pursuant to Section 403.19 of the Code of.Iowa, and
enacted Ordinance Nos. 3912, 4749 and 4902 of the City for such
purposes; and
WHEREAS, this Council now has approved an Amended and Restated
East Waterloo Unified Urban Renewal and Redevelopment Plan for an
area known as the Amended and Restated East Waterloo Unified Urban
Renewal and redevelopment Area, the purpose of which is to merge
the Airport Urban Renewal Area and the Logan Urban Renewal Area
into a single, unified urban renewal area to be known as the East
Waterloo Unified Urban Renewal and Redevelopment Area (the
"Unified Urban Renewal Area"), to add additional areas to the
Unified Urban Renewal Area described therein as the 2015 Additions
Subarea, and to amend, restate and otherwise update the Airport
Plan and Logan Plan through the approval of the Amended and
Restated East Waterloo Unified Urban Renewal and Redevelopment
Plan in order vto reflect .current City objectives and to describe
current and an'tibipated project activities and City actions that
may be undertaken in the Unified Urban Renewal Area;
WHEREAS, indebtedness- has been incurred by the City, and
additional indebtedness is anticipated to be incurred in the
future, to finance, urban renewal- project activities within the
Ordinance No. 5323
Page 2
Unified Urban Renewal Area, and the continuing needs of
redevelopment within said Unified Urban Renewal Area are such as
to require the continued` application of the incremental tax
resources of said Unified Urban Renewal Area; and
WHEREAS, the following enactment is necessary to accomplish the
objectives described in the premises.
NOW, THEREFORE, BE IT ORDAINED, BY THE CITY COUNCIL OF THE
CITY OF WATERLOO; IOWA:
Ordinance Nos. 3912, 4749 and 4902 are hereby amended to
read as follows:
Section 1: For purposes of this Ordinance, the following
terms shall have the following meanings:
A. Original Airport Subarea means that portion of the City
of Waterloo located within the boundaries described as
follows:
Beginning at the 'intersection of the Northerly right-
of=way line of 'Broadway Street and the centerline of
Wagner Rd., thence Northwesterly along said Northerly
right -of-way line of Broadway Street to a point which
is three hundred thirty feet (330') normally distant
East of the centerline of Airport Boulevard, thence
North one hundred twenty-five feet (125'), thence East
two'hundred fifty-three and seventy-six hundredths feet
(253.76'), thence North to the centerline of Airline
Highway, thence Easterly along said centerline one
thousand two hundred twenty-three feet (1223'), thence
North to the centerline of the Chicago Central and
Pacific Railroad, thence Northwesterly along the
Chicago Central and Pacific Railroad centerline two
hundred feet (200'), thence North three hundred sixty
feet (360'•), thence East to the centerline of Wagner
Road, thence Southerly along said centerline to the
centerline of West Airline Highway, thence Westerly
along said centerline to the centerline of the Chicago
Central and Pacific Railroad, thence Southeasterly
along the centerline of the Chicago Central and Pacific
Railroad to the centerline of Wagner Road, thence
Southerly along the centerline of Wagner Road to the
point of beginning.
B. Airport Amendment No. 1 Subarea means that portion of
the City of Waterloo located within the boundaries
described as follows:
Beginning at the point of intersection of the East line
of Leversee Road and the Northerly line of Railroad in
the Southwest quarter Section 5, Township 89, Range 13,
in the City of Waterloo, thence North to the North line
said section, thence East along section line to the
East line' of the Southwest one-quarter (1/4) of the
Southwest. one-quarter (1/4) Section 32 , Township 90,
Range 13, thence North along said line to the Southeast
corner of the Northwest one- quarter (1/4) of the
Southwest one-quarter (1/4), thence West along the
South line of the Northwest one-quarter (1/4) of the
Southwest one-quarter (1/4) to a point that is twenty'
(20) rods East of the West line of said section, thence
North one hundred thirty-two feet (132') more or less
(eight (8) rods), thence West twenty (20) rods to the
Ordinance No. 5323
Page 3
West line of section, thence North along the West line
of said section to the Northwest Corner of said
section, thence East to the Northeast corner of said
section, thence South to the WestTone-quarter (1/4)
corner 'of Section 33, Township 90, Range 13, thence
East to the center point of said section, thence South
thong the East line of the Southwest one-quarter (1/4)
to the Northwest corner of the Southwest one-quarter
(1/4) of the Southeast one-quarter (1/4) Section 33,
Township 90, Range 13, thence East to the Northeast
corner of the Southwest one-quarter (1/4) of the
Southeast one-quarter (1/4), thence South to the South
line of said section, thence West along the North line
of Section 4, Township 89, Range 13 to the Northwest
corner of the fractional one-quarter (1/4) of said
section, thence South five hundred eighty-eight feet
(588') thence Southeasterly to a point eight hundred
thirty-three feet (833') South of North line'and three
hundred nineteen feet (319') East of the West line of
said Northeast one-quarter (1/4), thence East to the
West line of the East thirty (30) acres of the North
fractional one-half (1/2) of the Northeast one-quarter
(1/4) of said section, thence South along said West
line of the East thirty (30) acres of the North
fractional one-half (1/2) of the Northeast one-quarter
(1/4) Section 4, Township 89, Range 13 to its
intersection with the North line of the Southeast one
quarter (1/4) of the Northeast one-quarter (1/4),
thence East to the West line of Wagner Road, thence
South along the West line of Wagner Road to a point
that is six hundred feet (600') North of the
intersection of the West line of Wagner Road and the
North line of West Airline Highway, thence West three
thousand three hundred feet (3300'), thence South to
the North line of the Chicago Central and Pacific
Railroad, thence Westerly along the North line of the
Chicago Central and Pacific Railroad, and the Cedar
River Railroad Company property (Land Deed, Book 560
Page 815) to the point of beginning, except a parcel of
land in Section 4, Township 89, Range 13, described as
follows: Beginning at a point on the North right-of-way
of the ,Chicago Central and Pacific Railroad Company
that is sixty feet (60') East of the centerline of the
access road to`airport, thence North four hundred feet
(400',), thence East five hundred feet (500'), thence
South to the North Railroad right-of-way, thence West
along the North railroad right-of-way to the point of
beginning.
C. Airport Amendment No. 2 Subarea means that portion of
the City of Waterloo located within the boundaries
described as follows:
Beginning at the Southwest corner of Section 32,
Township 89, Range 13, thence East along the South line
of Section 32, Township 90, Range 13 to the East line
of the Southwest 1,1 of the Southwest said Section 32,
thence North along said line to the Southeast corner of
the._.Northwest of the Southwest said Section, thence
West along the South line of the Northwest of the
Southwest to a point that is 20 rods East of the West
line of said Section, thence North 132 feet more or
less (8 rods), thence West to -the West line of said
Section, thence South along the West line of Section
32, Township 89, Range 13 to the point of beginning;
Ordinance No. 5323
Page 4
And also; beginning at a point on the North right-of-
way of the Chicago Central Railroad (formerly the
Chicago Central & Pacific Railroad) that is 60 feet
East of the centerline of the access road to the
airport, thence North 400 feet, thence East 500 feet,
thence South to the North Railroad right-of-way, thence
West along the North Railroad right-of-way to the point
of beginning;
And also; beginning at the Southwest corner of Section
5, Township 89, Range 13, thence South along the West
line of Section 8, Township 89, Range 13 (which is also
the West Corporate Limit line of the City of Waterloo)
to the Southwest corner of the Northwest k of the
Northwest '4 of. said Section 8, thence East along the
South line of the North one-fourth of said Section to
its intersection with the North line of West Washington
Street (also currently U.S. Hwy. 218), thence
continuing Easterly along said North right-of-way line
'(currently known as Broadway Street Ramp) to its
intersection With the East line of Lot 3, Deward
Felcher Industrial Park, thence Easterly 50' parallel
to the North line Lot 3 of Deward Felcher Industrial
Park, thence Easterly across Airport .Boulevard right-
of-way to the Southwest corner of, Lot 8 said addition,
thence East to the Southeast corner of Tract B of said
addition, thence North along the East line of said
Tract B a distance of 125' more -or less, thence South
89 degrees 28 minutes East 253.76', thence North to the
North line of Section 9, Township 89, Range 13, thence
East along the North line of said Section to the point
where it intersects the East line of the West 875' of
the Southeast k bf the -Southwest k of Section 4,
Township 89, Range 13, thence North along the East line
of the Wet 875' of the Southeast k of the Southwest k
of Section 4 to its intersection with the centerline of
the Chicago Central Railroad, thence Northwesterly
along the Railroad centerline 200', thence North to the
North line of said railroad, thence Westerly along the
North line of said railroad to its intersection with
the West line of Section 5, Township 89, Range 13,
thence South along said Section line to the point of
beginning;
And also; beginning at the center of Section 33,
Township 90, Range 13, thence North along the
centerline of said Section to the North line of the
South one-half of the Southwest 1,1 of the Northeast k
said Section, thence East along the North line of the
South one-half of the Southwest k of the Northeast k
and the South one-half of the Southeast of the
Northeast of said Section to the Northeast corner of
the Southwest k, of the Southeast k of the Northeast k
of said Section, thence South along the East line of
the Southwest 1/ of the Southeast i of the Northeast k
to the South line of the Northeast k of said Section,
thence East along the North line of the Southeast k
said Section 33 to the West line of Section 34,
Township 90, Range 13, thence East along the North line
of the Southwest k of Section 34, Township 90, Range 13
to the center of said Section 34, thence South along
the East line of the Southwest k said Section 34 to the
North line of Section 3, Township 89, Range 13, thence
South to the Northwest corner of the Southwest - of the
Southeast k said Section 3, thence East along the North
Ordinance No. 5323
Page 5
line of the Southwest k of the Southeast k to the
Northeast corner of said Southwest k of the Southeast k
of said Section, thence South along the East line of
the Southwest k of the Southeast - to the South line of
said Section 3, thence East along the South line of
Section 3 to the Southeast corner of said Section,
thence East along the North line of Section 11,
Township 89, Range 13 -to the point where the East line
of Lot 10, Gronberg Addition extended North would
intersect the North line of said Section 11, thence
South along the extension of the East line of said Lot
10 to the Southeast corner of said Lot 10, thence South
along the East line of the South 80 acres of the West
100 acres of the Northwest k of said Section 11 to the
South line of the Northwest k of said Section, thence
West along the South line of the Northwest k said
Section 11 to the West line of said Section, said point
also being the Northeast corner of the Southeast k of
Section 10, Township 89, Range 13, thence West along
the North line of the Southeast k of Section 10 to the
centerline of the Chicago Central Railroad, thence
South and Southeasterly following said Railroad
centerlihe to its intersection with the centerline of
Midland -Street, thence East along the centerline of
Midland Street to its intersection with the centerline
of Longfellow Avenue, thence South along the centerline
of Longfellow Avenue to the South line of Section 10,
thence East along the South line of Section 10 to the
Southeast corner of said Section, thence South along
the East line of Section 15, Township 89, Range 13 to
its intersection with the centerline of the Chicago
Central Railroad, thence Southeasterly Easterly and
Southeasterly following the centerline of the most
Northerly leg of the Chicago Central Railroad to its
intersection with the centerline of David Street,
thence South along the centerline of David Street to
the centerline of West Parker Street, thence West along
the centerline of West Parker Street to the West line
of Section 14, Township 89, Range 13, thence North
along the West line of said Section 14 to its
intersection with the centerline of Broadway Street,
thence Northwesterly following the centerline of
Broadway Street to the North line of Section 15,
Township 89, Range 13, thence West along the North line
of said Section 15 to the centerline of Cedar Bend
Street, thence North along the centerline of Cedar Bend
Street to its intersection with the South line of
Broadway Street, thence Northwesterly along the South
line of Broadway Street to a point on the South line of
Broadway Street that is 190' (as measured along the
South line of Broadway Street) Southeasterly of the
North line of the Southwest k of Section 10, Township
89, Range 13, thence Southwesterly to a point that is
33' East of and 562.4' South of the Northwest corner of
the Southwest k of said Section 10, thence North along
a line that is 33' East of and parallel to the West
line of said Section 10 to the North line of the
Southwest k of said Section 10, thence West to the West
line of said Section 10, thence West along the South
line of the Northeast k Section 9, Township 89, Range
13 to the Southwest corner of the Southeast k of the
Northeast k of said Section, thence North along the
West Line of the Southeast k of the Northeast k of
said Section to the North line of Broadway Street,
thence Southeasterly along the Northerly line of
Broadway Street to the East line of Section 9, Township
Ordinance N(.) 5323
Page 6
89, Range 13, thence North along the East Line of
Section 9 (which is also the centerline of Wagner Road)
to the centerline of the Chicago Central Railroad,
thence Northwesterly along said railroad centerline to
the North line of Section 9, thence East along the
North line of Section 9 to the Northeast corner of said
Section, thence North along the East line of Section 4,
Township 89, Range 13 to a point that is 600' North of
the North .line of West Airline Highway, thence West to
the West line of Wagner Road, thence North along the
West line of Wagner Road to the South line of the
Northeast k of the Northeast fractional k of Section 4,
thence West along the South line of the Northeast k of
the Northeast fractional k said Section to the West
line of the East 30 acres of said Northeast k of the
Northeast fractional 1- said Section, thence North along
the West line of the East 30 acres of the North
fractional one-half of the Northeast fractional k of
said Section 4 to a point that is 833 feet South of the
North line of said Section, thence West along a
straight line to a point that is 319' East of and 833'
South of the Northwest corner of -the Northeast
fractional 1- of said Section 4, thence Northwesterly to
a point on the West line of the Northeast fractional
quarter said Section 4 that is 588' South of the North
line of said Section 4, thence North to the North line
of said Section 4 , thence East along the North line of
said Section 4 to the Southwest corner of the Southeast
k of the Southeast k of Section 33, Township 90, Range
13, thencee.North along the West line of the Southeast "-
ot'the Southeast k to the Southwest corner of the
Northeast k of the Southeast k said Section 33, thence
West to the Southwest corner of the Northwest k of the
Southeast -, thence North along the West line of the
Northwest k of the Southeast k (to the center of
Section 33, Township 90, Range 13, which point is also
the point of beginning.
D. Original Logan Subarea means that portion of the City
of Waterloo located within the boundaries described as
follows:
Beginningat the intersection of the Centerline of West
Donald Street and='the Centerline of Heath Street;
thence North,. Northeasterly.and Easterly along the
Centerline of Heath Street to its intersection with the
West line of Tract "A" of BV'Addition; thence North
along the West line of BV Addition to the North ,line of
Lot 2 said addition; thence East along the North line
of Lot 2 BV Addition and an extension of said line East
to the Centerline of Logan Avenue (also known as U.S.
Highway 63); thence North along the Centerline of Logan
Avenue to the North line of Ralston Road; thence East
along the North line of Ralston Road to the East line
of East 4th Street; thence South along the East line of
East 4th Street to the Centerline of East Donald
Street; thence West along the Centerlines of East
Donald Street and West Donald Street to the point of
beginning.
E. Logan Amendment No. 1 Subarea means that portion of the
City of Waterloo located within the boundaries
described as follows:
Ordinance No. 5323
Page 7
Ola Rhodes Addition to the City of Waterloo;
And also:
Beginning at the intersection of the centerline of Columbia
St. and the centerline of West Donald St.; thence East
along the centerline of West Donald St. and East Donald
St. to the intersection with the centerline of Barclay
St. as originally platted in Enterprise Place addition
to the City of Waterloo, said line also being the North
and South centerline of Section 13, Township 89, Range
13; thence South along the North and South centerline
of said Section to its intersection with the centerline
of the Canadian National Railroad right-of-way; thence
Southeasterly following the centerline of said main
railroad right-of-way to its intersection with the
centerline of Linden Ave., said line also being the
East line of Section 24, Township 89, Range 13; thence
South along the centerline of Linden Ave. to the
Southeast corner of said Section 24, said point also
being the intersection with the centerline of
Independence Ave.; thence West along the South line of
said Section 24 to the Southwest line of the Canadian
National Railroad (formerly known as the Chicago,
Central and Pacific Railroad); thence Northwesterly
following the Southwesterly line of said railroad to
the intersection with the East line of Mobile St.;
thence South along the East line of Mobile St. to a
point where the North line of Lot 7, Block 13 of
William Watkin's Subdivision of a Part of Lots 12, 13,
and 14 of Hardy and Virden's Plat bf the Southeast
Quarter of Section 24, Township 89, Range 13 extended
Easterly would intersect said East line of Mobile St.;
thence West to the Northeast corner of Lot 7, Block 13
said addition; thence West along the North line of said
Watkins Addition to the Northwest corner of Lot 9,
Block 13 said addition; thence South along the East
line of Elm St. to the Northwest corner of Lot 1, Block
13 said addition; thence West to a point on the North
line of Lot 2, Block 14 said addition that is 10 feet
West of the Northeast corner of Lot 2, Block 14 said
addition; thence Southwesterly to a point that is 35
feet East of and 30 feet South of the Northwest corner
of Lot .1, -.Block 14 said addition; thence West 35 feet
to the East line of Lane St.; thence South along said
East line of Lane St. to the Northwest corner of Lot
10, Balliett & Gilbert's Subdivision, said point also
being a point on the South line of Glenwood St.; thence
West along the South line of Glenwood St. to the West
line of Irving St.; thence North 22' on an extension of
the West line of Irving St.; thence West along a line
that is 11' South of and parallel to the North line of
Glenwood St. as platted to a point that is 100 feet
normally distant East of the East line of South Barclay
St.; thence Southwesterly to a point on the East line
of South Barclay St. that is 8 feet North of the
Northwest corner of Lot 7, Alford, Gates & Krapfel's
Subdivision; thence South along the East line of South
Barclay St. as platted to the point where the North
line of Lot 12, Auditor Rainbow's Plat of Cooley
Subdivision extended Easterly would intersect said East
line; thence West to the Northeast corner of said Lot
12; thence West 41' along the North line of said Lot
12; thence Southwesterly to a point on the
Northwesterly line of Lot 7, Auditor Rainbow's Plat of
Cooley Subdivision, that is 92.8 feet Northeasterly of
Ordinance No. 5323
Page 8
the most Westerly corner of said lot; thence
Southwesterly 92.8 feet along the Southwesterly line of
Lot 7 said addition to the Northeasterly line of Walnut
St,; -thence -Southwesterly across Walnut St. to the most
Easterly corner of Lot 1, Block 58 of Cooley Addition;
thence Northwesterly along the Southwesterly line of
Walnut St. to its intersection with the centerline of
East 5th St. as originally platted; thence
Southwesterly along said centerline of East 5th St. to
the centerline of Franklin St.; thence Northwesterly
along the centerline of Franklin St. to the centerline
of East 3rd St.; thence Southwesterly along the
centerline of East 3rd St. to the centerline of
Sycamore St.; thence Northwesterly along the centerline
of Sycamore St. to the Easterly line of Auditor's Bayou
Plat; thence Northeasterly along the Easterly line of
Auditor's Bayou Plat to the Southwesterly line of
Lafayette St.; thence Northwesterly along the
Southwesterly line of Lafayette St. to the point of
intersection with the centerline of Oak Ave., if
extended Southwesterly; thence Northeasterly along said
Southwcsterly extension of the centerline of, Oak Ave.,
and the centerline of Oak Ave. to the centerline of
Lafayette St.; thence Northwesterly along the
centerline of Lafayette St. to the centerline of Utica
St.; thence Northeasterly following the centerline of
Utica St. as platted to the centerline of Broadway St.;
thence Northwesterly and Northerly following the
centerline of Broadway St. to the intersection with the
centerline of Bratnober St.; thence East along the
centerline of Bratnober St. to the centerline of
Columbia St.; thence North along the centerline of
Columbia St. to the North line of Litchfield First
Addition; thence East along the North line of said
addition to the East line of the Southwest Quarter of
the Northeast Quarter of Section 14, Township 89, Range
13; thence North along the East line of the Southwest
Quarter of the Northeast Quarter of said Section to the
Northeast corner of said Southwest Quarter of the
Northeast Quarter; thence West along the North line of
said Southwest Quarter of the Northwest Quarter, also
being the centerline of West Louise St., to the
centerline of Columbia St:; thence North along the
centerline of Columbia St. to the centerline of West
Donald St.; said point also being the point of,
beginning; except all that part of the Southeast
Quarter of Section 24, Township 89, Range 13 lying
Southeasterly of the Southeasterly line of the Union
Pacific Railroad right-of-way (formerly known as the
Chicago & Northwestern Transportation Company),
Northeasterly of the Northeasterly line of the Canadian
National Railroad (formerly known as the Chicago
Central & Pacific Railroad) right-of-way, and West of
the East line of said Section 24, Township 89, Range
13.
F. 2015 Additions Subarea means that,portion of the City
cf Waterloo located within the boundaries described as
follows:
Beginning at the intersection of the centerline of
Sycamore St. and the Easterly line of Auditor's Bayou
Plat; thence Northeasterly along the Easterly line of
Auditor's Bayou Plat to the Southwesterly line of
Lafayette St.; thence Northwesterly along the
,Southwesterly line of Lafayette St. to the point of
Ordinance No. 5323
Page 9
intersection with the centerline of Oak Ave., if
extended Southwesterly; thence Northeasterly along said
Southwesterly extension of the centerline of Oak Ave.,
and the centerline of Oak Ave. to the centerline of
Lafayette St.; thence Northwesterly along the
centerline of Lafayette St. to the centerline of Utica
St.; thence Northeasterly following the centerline of
Utica St. as platted to the centerline of Broadway St.;
thence Northwesterly and Northerly following the
centerline of Broadway St. to the intersection with the
centerline of Bratnober St.; thence East along the
centerline of Bratnober St. to the centerline of
Columbia St.; thence North along the centerline of
Columbia St. to the North line of Litchfield First
Addition; thencetEast along the North line of said
addition to the East line of the Southwest Quarter of
the Northeast Quarter of Section 14 Township 89 Range
13; .thence North,along the East line of the Southwest
Quarter of the Northeast Quarter of said Section to the
Northeast corner of said Southwest Quarter of the
Northeast Quarter; thence West along the North line of
said Southwest Quarter of the Northeast Quarter, also
being the centerline of West Louise St., to the
Northeast corner of the Southeast k of the Northiest 1-
of Section 14, Township 89 Range 13; thence West along
the North line of said Southeast JK4 of the Northwest k
to the Northwest corner of the West 410 feet of the
East 440 feet of the North 366.3 feet of the West of
said Southeast k of the Northwest ; thence South along
the West line of the West 410 feet of the East 440 feet
of the North 366.3 feet of the West of said Southeast
of the Northwest k to the Southwest corner of the
West 410 feet of the East 440 feet of the North 366.3
feet of the West ' of said Southeast k of the Northwest
',1; thence West to the West line of said Southeast k of
the -Northwest 14; thence South along said West line to
the centerline of the most Northerly leg of the Chicago
Central Railroad; thence Southeasterly along said
centerline to the centerline of David St; thence South
along the centerline of David St. to the centerline of
West Parker St.; thence West along the centerline of
West Parker St. to the centerline of Fairview Ave.;
thence South along the centerline of Fairview Ave. and
an extension of the centerline of Fairview Ave. if
extended Southerly to the Northerly line of the Cedar
River; thence following the Northerly bank of the Cedar
River to the point where it intersects a Northwesterly
extension of the centerline of Sycamore St.; thence
Southeasterly along the extended centerline of Sycamore
St. and the centerline of Sycamore St. to the point of
beginning'
Also, Auditor's Parcel "G" in the NE SW SEC 12-
T89N-R13W,' of the Fifth Principal Meridian, Black Hawk
County, Iowa, as shown in the Plat of Survey recorded
as Document No. 2008-10309 in the Office of the
Recorder of Black Hawk County, Iowa;
Also, that part of the Southwest Quarter of the
Northwest Quarter of Section No. 12 and that part of
the Northwest Quarter of the Southwest Quarter of
Section No. 12, all in Township No. 89 North, Range No.
13 West of the 5th P.M., in the City of Waterloo, Black
Hawk County, Iowa, bounded as follows: Commencing at
the Southeast Corner of the North 8 acres of the("South
One-half of the Southwest Quarter of the Northwest
Ordinance No. 5323
Page 10
Quarter of said Section; running thence West along the
South line of said 8 acres a distance,of 660 feet;
thence South along a line parallel with the East line
of the Southwest Quarter of the Northwest Quarter of
said Section and with the East line of the Northwest
Quarter of the Southwest Quarter of said Section a
distance of 660 feet; thence East along a line parallel
with the South line of said 8 acre tract a distance of
660 feet to the East line of the Northwest Quarter of
the Southwest Quarter of said Section; thence North a
distance of 660 feet to the point of beginning, except
the.. South.._ 33 feet thereof.
G. "Unified Urban Renewal Area" shall mean, collectively,
all of the areas of the City of Waterloo included
within the Original Airport Subarea, the Airport
Amendment No. 1 Subarea, the Airport Amendment No. 2
Subarea, Original Logan Subarea, the Logan Amendment
No. 1 Subarea and the 2015 Additions Subarea, each as
described in this Ordinance.
H. "Urban Renewal Plan" shall mean the Amended and
Restated East Waterloo Unified Urban Renewal and
Redevelopment Plan for the Unified Urban Renewal Area,
approved by Resolution No. 2015-931 on December 7,
2015, as the same may. be amended from time to time.
Section 2: The taxes levied on the taxable property in the
Unified Urban Renewal Area and each of the separate Subareas made
apartthereof,-legally described in Section 1 hereof, by and for
the benefit of the State of Iowa, City of Waterloo, County of
Black Hawk, Waterloo Community School District, and all other
taxing districts from and after the effective date of this
Ordinance shall be divided as hereinafter in this Ordinance
provided.
Section 3: As to the Original Airport Subarea, that portion
of the taxes which would be produced by the rate at which the tax
is levied each year by or for each of the taxing districts taxing
property in the Original'Airport Subarea upon the total sum of
the assessed value of the taxable property in the Original
Airport Subarea as shown on the assessment roll as of January 1,
1991, being the first day of the calendar year preceding the
effective date of Ordinance No. 3912, shall be allocated to and
when collected be paid into the fund for the respective taxing
district as taxes by or for said taxing district into which all
other property taxes are paid. The taxes so determined shall be
referred heroin-asthe "base period taxes" for such Subarea.
As to the Airport Amendment No. 1 Subarea, base period taxes
shall be computed in the same manner, using the total assessed
value of the taxable property in the Airport Amendment No. 1
Subarea shown on the assessment roll for January 1, 1994, being
the first day of the calendar year preceding the effective date
of Ordinance No. 4069.
As to the Airport Amendment No. 2 Subarea, base period taxes
shall be computed in the same manner, using the total assessed
value of the taxable property in the Airport Amendment No. 2
Subarea shown on the assessment roll for January 1, 2004, being
the first day of the calendar year preceding the effective date
of Ordinance No. 4749.
As to the Original Logan Subarea, base period taxes shall be
computed in the same manner, using the total assessed value of
the taxable -property -in the Original Logan Subarea as shown on
Ordinance No. 5323
Page 11
the assessment roll as of January 1, 2004, being the first day of
the calendar year preceding the first calendar year in which the
City of Waterloo certified to the County Auditor the amount of
loans, advances, indebtedness or bonds payable from the division
of property tax revenue described herein in respect of such
Subarea.
As.to.the-Logan Amendment No. 1 Subarea, base period taxes
shall be computed in the same manner, using the total assessed
value of the taxable property in the Logan Amendment No. 1
Subarea shown on the assessment roll for January 1, 2007, being
the first day of the calendar year preceding the effective date
of Ordinance No. 4902.
As to the 2015 Additions Subarea, base period taxes shall be
computed in the same manner, using the total assessed value of
the taxable property in the 2015 Additions Subarea shown on the
assessment roll as of January 1, 2015, being the first day of the
calendar year preceding the effective date of this Ordinance.
Section 4: That portion of the taxes each year in excess of
the base period taxes for the Unified ,Urban Renewal Area,
determined for each Subarea thereof as provided in Section 3 of
this Ordinance, shall be allocated to and when collected be paid
into the special tax increment fund previously established by the
City of WTaterloo:to pay the principal of and interest on loans,
monies advanced or indebtedness, whether funded, refunded,
assumed or otherwis'e1~'including bonds°issued under authority of
Section 403.9-or,Section 403'.12 of the Code of Iowa, incurred by
the City of Waterloo, Iowa to finance or refinance, in whole or
in part, urban renewal projects undertaken within the Unified
Urban Renewal Area pursuant to the Urban Renewal Plan, except
that (i) taxes for the regular and voter -approved physical plant
and equipment levy of a school district imposed pursuant to Iowa
Code Section 298.2 and taxes for the instructional support
program of a school district imposed pursuant to,Iowa Code
Section 257.19 (but in each case only to the extent required
under Iowa Code Section 403.19(2)); (ii) taxes for the payment of
bonds and interest of each taxing district; (iii) taxes imposed
under Iowa Code -Section 346.27(22) related to joint county -city
buildings; and (iv) any other exceptions under Iowa Code Section
403.19 shall be collected against all taxable property within the
Unified' Urban Renewal Area without any limitation as hereinabove
provided:
Section 5: Unless or until the total assessed valuation of
the taxable property in the Subareas of the Unified Urban Renewal
Area exceeds the total assessed value of the taxable property in
said Subareas, shown by the assessment rolls referred to in
Section 3 of this Ordinance, all of the taxes levied and
collected upon the taxable property in the Unified Urban Renewal
Area shall be paid into the funds for the respective taxing
districts as taxes by or for the taxing districts in the same
manner as all other property taxes,.
Section 6: At such, time as the loans, monies advanced,
bonds and interest thereon and indebtedness of the City of
Waterloo referred to in Section 4 hereof have been paid, all
monies thereafter received from taxes upon the taxable property
in the Unified Urban Renewal Area shall be paid into the funds
for the respective taxing districts in the same manner as taxes
on all other property.
Section 7: All ordinances or parts of ordinances in
conflict with the provisions of this Ordinance are hereby
repealed. The provisions of this Ordinance are intended and
Ordinance No. 5323
Page 12
shall be.construed so as to continue the division of taxes from
taxable property in those portions of the Unified Urban Renewal
Area that are now subject to Ordinance Nos. 3912, 4069, 4749 and
4902 and the -provisions of Section 403.19 of the Code of Iowa,
and to fully implement the division of taxes in the 2015
Additions Subarea of the Unified Urban Renewal Area. In the
event that any provision of this Ordinance shall be determined to
be contrary to law it shall not affect other provisions or
application of this Ordinance which shall at all times be
construed to fully invoke the provisions of Section 403.19 of the
Code of Iowa with reference to the Unified Urban Renewal Area and
the territory contained therein.
Section 8: This Ordinance shall be in effect after its
final passage, approval and publication as provided by law.
INTRODUCED:
PASSED 1st CONSIDERATION:
PASSED 2nd CONSIDERATION:
PASSED 3rd CONSIDERATION:
'PASSEDAND ADOPTED this 14th
ATTEST),
December 7, 2015
December 7, 2015
December 14, 2015
December 14, 2015
day of December 2015.
Ern
y Scares, CMC
City Clerk
st G. C ark, ayor