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HomeMy WebLinkAbout2008-1058-12/1/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2008-1058 RESOLUTION AUTHORIZING CERTIFICATION TO THE COUNTY AUDITOR THE CITY ' S EXPENDITURES THAT QUALIFY FOR REIMBURSEMENT FROM THE TAX INCREMENT FUND. 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 HEREBY RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA, that the City Clerk be instructed to certify to the County Auditor all expenditures of the City that qualify for reimbursement from the Tax Increment Fund as indicated below: Exhibit "A Cumulative as of June 30,2005 Project Designation: Martin Road Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2 Date of Issuance or Cumulative No. Expenditure Source Description of Indebtedness Amount AMOUNT I INCURRED Recording Fees FY 1998- 1999 Principal $464.50 1999 GO Bonds $464.50 Design& FY 1997- 2001 Principal $20,328.07 1999 GO Bonds $20,792.57 Construction Engineering Construction of Road &Sewer FY 1999- 2001 Principal $165,433.36 1999 GO Bonds $186,225.93 Financing 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 Denso Project FY 2004 Princi al $51,218.16 2002 GO Bonds $826,211.94 Expenses-Fund 412 Interest $20,299.47 2002 GO Bonds $846,511.41 Martin Road FY 2006 Principal $100,000.00 2006 GO Bonds $946,511.41 Development- Fund 406 Interest $57,473.781 $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* $14,055.53 $1,049,169.07 30% 2010* $14,055.53 $1,063,224.60 30% 2011* $14,055.53 $1,077,280.13 yz79dluM ZIV ,a[zel0 yji0 ,Ja9Ao3 yorTzM yd b9asg9aq noi3uloeeR aiAT .sWOI ,00l"I9l5W ,199Il2 8801-8002 .OM VIOITU1023R 3HT OT VIOITAOI'3IT343O OVIISIfIOHTUA 00ITU1023R TAHT 23RUTICIM=3 2 'YTIO 3HT ROTICIUA YTVIUOO XAT 3HT MORn TVI3M32RU9MI3R R09 Y3I.IAUQ .aVIU'3 TVI3M3ROVII 29Xsj 7o91loo of yJio 9rfj awolls swoI 3o 9bo0 9rfJ ,2A3R3HW xsT" s ni b9Jiaog9b ed o3 7oiajeib Isoidgsapoep nisfzeo s nidJiw bns , 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$25,383.00 $1,280,328.63 90% 2016* $3,191.69 $1,283,520.32 Rain Soft Rebates Principal TIF Rebate $1,283,520.32 100% 2010* $9,889.63 $1,293,409.95 100% 2011* $9,889.63 $1,303,299.58 100% 2012* $9,889.63 $1,313,189.21 100% 2013* $9,889.63 $1,323,078.84 100% 2014* $9,889.63 $1,332,968.47 Young TIF Rebate Development Principal $1,332,968.47 100% 2010* $16,14.0.00 $1,349,108.47 100% 2011* $16,141.00 $1,365,249.47 100% 2012* $16,141.00 $1,381,390.47 100% 2013* $16,141.00 $1,397,531.47 100% 2014* $16,141.00 $1,413,672.4 100% 2015* $16,141.00 $1,429,813.4 100% 2016* $16,141.00 $1,445,954.4 100% 2017* $11,564.93 $1,457,519.40 Stephen Riley Principal TIF Rebate $1,457,519.40 100% 2010* $17,000.28 $1,474,519.68 100% 2011* $17,000.28 $1,491,519.96 100% 2012* $17,000.28 $1,508,520.24 100% 2013* $17,000.28 $1,525,520.52 100% 2014* $17,000.28 $1,542,520.80 100% 2015* $17,000.28 $1,559,521.08 Maurer Principal TIF Rebate $1,559,521.08 100% 2011* $115,864.41 $1,675,385.49 100% 2012* $115,864.41 $1,791,249.90 100% 2013* $115,864.41 $1,907,114.31 100% 2014* $115,864.41 $2,022,978.72 100% 2015* $115,864.41 $2,138,843.13 100% 2016* $115,864.41 $2,254,707.54 100% 2017* $115,864.41 $2,370,571.95 100% 2018* $115,864.41 $2,486,436.36 100% 2019* $115,864.41 $2,602,300.77 100% 2020* $115,864.41 $2,718,165.18 8201-800S .0m noifuloze>s S eps9 9fsd95I TT Isgi9nhq flusv Jx9dliW ZAMA Ea.7ta,tor,1� 0a.CaE,as$ *800E It Oe Ea.oeo,8sly OO.EBUP TOM R0e Ea.Ers,Eat, oo.E mss *010 1109 EaAI,MO 00.E80M AM Roe 0.10etlz,r$ OO.E cly *Eros Roe Ea.a yvat, Oo.E8E,aS *gyros R0e 0.80,000 OO.E8OW AM 'Roe SE.olza,EBs, e6.10A *610lz 1109 mose,E8S, 93sd95l WT Isgi9nixg 293sd93I JIM nisA ae.e01,EeS,n PAIR *OTOS Ro0t 8a.eet,EOE, Ea.e88,e *IfOS Roof IS.e8I,E1E, ea.e88,e2 *trot 11001 18.870100 Ea.e8ay *Eros Ro0f 0.86e,SEES IM8831 11 *�M 01?001 9isd95l SIT 8nuoY 7t.86e,SEE,R Isgi9nix�I in9rngol9v9Q 7.�.801,gtcj� *OTOS Ro0r u.eI?S,aacy 00.111'aa *IrOS Roor moeE,ngs OO.IAWR *BIOS 'Roof mfezyvjT 011xl,al$ *EPOS 11001 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WOK (woof sa.70702M ft..�aB,Ef fl *afolz .1001 eeme,OCE,s Iyha8,afl� AM (Roof WaRa8I?,S$ IMUM, *8fOS Roof 77.00010M 111681W 0101 Roof 8mar,BrC,s txxaytrc *Otos Roof Resolution No. 2008-1058 Page 3 1999 GO Bonds Refinanced- Principal -$82,507.00 1999 GO Bonds $2,635,658.x$ Deduct Old Debt Service Interest -$29,395.00 $2,606,263.18 1999 GO Bonds Refinanced- Add Principal $82,971.00 2007 GO Bonds New Debt Service- Fund 407 $2,689,234.18 Interest $23,222.00 $2,712,456.18 Martin Road Dev. FY 2007 Principal $50,000.00 2007 GO Bonds $2,762,456.18 (taxable) Interest $17,728.00 $2,780,184.18 Martin Road Dev. FY 2008 Principal $80,000.00 2008 GO Bonds $2,860,184.18 (taxable) Interest $25,000.00 $2,885,184.18 *Estimated Exhibit "B" Cumulative as of June 30, 2008 Project Designation: Martin Road Tax Increment Redevelopment Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 03.19(2) Amount Received from Payments Other Revenue No. Year Received under Sec.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 FY 2005 $123,495.49 $413,962.86 10 FY 2006 $150,499.75 $564,462.61 11 FY 2007 $171,27$:42 $101,903.67 $837,644.70 12 FY 2008 $204,129:43 $18,939.01 $1,060,713.14 13 FY 2009* $259,000.00 $1,319,713.14 * Estimated Exhibit "A" July 1,2005-June 30,2006 (ANNUAL) Project Designation: Martin Road Tax.Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) Date of Issuance Description of Cumulative No. or Expenditure Source p P Indebtedness Amount Amount Incurred Martin Road FY2006 Principal $100,000.00 GO Bonds $100,000.00 Development Interest $57,473.78 GO Bonds $157,473.78 8202-800S .0m noifuloegSl E spsq zbno8 00 eeef fDniTq -b9DnsnilaA zbno8 Oa eeel g .8Za,ZEa,S� OO.COZ,SB�- Is g 9DivT92 id9Q blO toub9Ql 8LEaS,aoa,S� OO.ZeE,eS$- iz9T9inI 8f.1?ES,eBa,S$ zbno8 OO COOS OO.17e,E8? 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Z8.08C,Ca$ EOOS Y'q C CE.Cak,oeS� koM Y'3 8 68.2ae,ErR ZOOS Y8 e ra.Sa�,1,aZ� zC.ee�,oer� 6002 YO or OCt�l?a,CE8� Ca.EOe,tM S4187S,l7f� COOS Y'8 It 1 f.EIC,0a0,f� 80M Y8 SI I'r.EfC,ef£,I� OO.000,eZS� *e002 Y3 Ef b9ismidzq "A" tidifixd (JAUZZA) a00S ,OE 9ffuj- ZOOS,I Yluj &9TA tn9mgol9ysb93l tn9m9T9nl,xr.T bsoA nitisM moit6ngi29Q b*'19 19lub9fi:)2 tn9m9zTudmi9H tn9fn97tanl xsT Toa gni�3ilsuQ ez9nb9td9bnl S OLEot noitD92 T9bnu 9vitslumuD io noitgiT329Q �Tu 9 o2 9�nsuzzI to 9tsQ off tnuomA 229nb9td9bnl 9Tutibn9gxH To b9TTu�nI tnuomA 00.000,00R zbno8 OD 00.000,00RIs iDnil9 6002Y8 bsoA ribiBM 8C.£C�,CZI� zbno8 00 87.£7�,7 Z� i29T9inI in9mgOI9v9Q R4,,g.Vution No. 2008-1058 F ge -7nH HHS o - N cv N 411be_Vault Principal TIF Rebates 1Tk $157,473.78 E 90% 2008* $22,302.00 $179,775.78 90% 2009* $22,302.00 $202,077.78 77 90% 2010* $22,302.00 $224,379.78 H 90% 2011* $22,302.00 $246,681.78 N 90% 2012* $22,302.00 $268,983.78 s H 90% 2013* $22,302.00 $291,285.78 c 90% 2014* $22,302.00 $313,587.78 cD 90% 2015* $22,302.00 $335,889.78 h- 90% 2016* $22,302.00 $358,191.78 ro l�f-'`Soft Rebates Principal TIF Rebates $358,191.78 100% 2010* $11,100.00 $369,291.78 100% 2011* $11,100.00 $380,391.78 s 100% 2012* $11,100.00 $391,491.78 } 100% 2013* $11,100.00 $402,591.78 = 100% 2014* $11,100.001 $413,691.78 *Zstimated PASSED AND ADOPTED this lst day of December, 2008 . Tim Hurley, May ATTEST: Nanc}- Ec e CMC City Clerk 8201-BOOS .00 noij,99#0 Jnr xy � •t H - c 2eisd95I TT Isgi9ni7�I flttsV x Ie�7, 8C.EC�,CZI$ 8C.277,9W OO.20E,22� *8002 °\°Oe H 87.1770402� oo.SOE,m *9002 °\1oe o 87.M,412S� OO.2OE,22� *0r02 0\109LJ: 87.186,6:W OO.SOE,SS$ *fr02 °\°Oe --3 m H _ c 8C.E8e,8aS oosoe,SS� *2102 0\1()9 H z 87.a82,fe2$ 00.20E,as *Eros 01°09 H o 87.78E,UR oosoe,as *I402 °\109 rte- -3 87.e88,aFF2 00.20E,m *2ro2 Roe 00 s�.rer,BaE� oo.2oE,22� *6102 0\109 87.I9I,8az� 29isd9X BIT Isgi9rthq 2918d95I 11085 4� 00 87.m,eaEw 00.00UR *Oros ROOT rn rn 87.reE,0ww OO.00rjr� *rroE onot 87.f9lb,f9Q 00.001,fR *2r02 Ro0f z z 8C.r92,20k OO.00f,Ir$ *Eros oToor 87.196,F-19 o0.o0f,fr� *WS o\°OOr z b9fsrrt�a�* a7 0 CD r� . BOOS ,aedmeoeCI ao ysb 721 2idi 43TgOCIA CIHA Q322Aq 3gysM ,y917uH miT :T23TTA DMO s9 [e3 �ensVI �(z9iD y3iD