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Home My WebLink About2008-1060-12/1/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2008-1060 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 30,2008 Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19 2 Description of Date of Issuance Indebtedness Cumulative No. or Expenditure Source Amount Incurred Amount Site Development FY 1996 Principal $220,648.35 1996 GO Bonds $220,648.35 MidPort Blvd. FY 1996 Principal $170,748.90 1996 GO Bonds $391,397.25 Rail Improvements FY Principal $8,682.75 1996 GO Bonds $400,080.00 1996 Interest $205,357.39 1996 GO Bonds $605,437.39 Loan-Cedar Falls BDC Principal $10,000.00 Advance $615,437.39 Interest 97-00 $1,058.63 $616,496.02 Interest FY 01 $300.00 $616,796.02 Interest FY 02 $275.00 $617,071.02 Basic Materials (AADA) FY Principal $100,000.00 Advance $717,071.02 1997 Interest 97-00 $10,561.65 $727,632.67 Interest FY 01 $3,000.00 $730,632.67 Interest FY 02 $3,000.00 $733,632.67 Interest FY 03 $3,180.82 $736,813:49 Interest FY 04 $2,537.26 $739,350.75 Interest FY 05 $2,400.00 $741,750.75 Interest FY 06 $2,100.00 $743,850.75 Interest FY 07 $1,800.00 $745,650.75 Interest FY 08 ; .$J,500.00 $747,150.75 Interest FY 09 $1,200.00 $748,350.75 Interest FY 10 $900.00 $749,250.75 Interest FY 11 $600.00 $749,850.75 Interest FY 12 $300.00 $750,150.75 Resolution No. 2008-1060 Page 2 MIDPORT BLVD. RISE Principal $129,945.07 1997 GO Bonds $880,095.82 PHASE 1 6/97 Rail Spur Improvements Principal $116,629.00 1998 GO Bonds $996,724.82 FY 97 Interest $119,366.30 1998 GO Bonds $1,116,091.12 Site Development FY 98 Principal $141,120.56 1998 GO Bonds $1,257,211.68 ,l`rlidPort Blvd. FY 98 Principal $47,137.12 1998 GO Bonds $1,304,348.80 Bail Spur Improvements Principal $77,449.07 1998 GO Bonds $1,381,797.87 FY 98 Interest $123,689.79 1998 GO Bonds $1,505,487.66 Site Development FY 99 Principal $28,285.68 1999 GO Bonds $1,533,773.34 MidPort Blvd. FY 99 Principal $266,086.66 1999 GO Bonds $1,799,860.00 Sanitary Sewer FY 99 Principal $793,792.01 1999 GO Bonds $2,593,652.01 Interest $707,864.43 1999 GO Bonds $3,301,516.44 Site Development FY 00 Principal $106,524.92 2000 GO Bonds $3,408,041.36 Interest $55,651.00 $3,463,692.36 Sanitary Sewer FY 98-99 Principal $214,142.37 Advance $3,677,834.73 CB Richard Ellis Principal $210,000.00 Contract $3,887,834.73 Water Tap - WTT Principal $4,535.93 Advance $3,892,370.66 Water Tap - Adv. Heat Principal $6,531.29 Advance $3,898,901.95 Treat WTT Properties Tax Rebate TIF Rebate Agreement 100% 2001 $29,912.18 $3,928,814.13 100% 2002 $31,504.14 $3,960,318.27 100% 2003 $32,634.15 $3,992,952.42 Clear Windows Rebate TIF Rebate Agreement 75% 2004 $13,243.08 $4,006,195.50 60% 2005 $0.00 $4,006,195.50 45% 2006 $14,526.00 $4,020,721.50 30% 2007 $8,715.58 $4,029,437.08 15% 2008 $2,347.20 $4,031,784.28 Advanced Heat Treat TIF Rebate Agreement Rebate 100% 2002 $43,149.60 $4,074,933.88 100% 2003 $44,697.34 $4,119,631.22 100% 2004 $46,099.04 $4,165,730.26 Fed Ex Tax Rebate TIF Rebate Agreement 50% 2008 $ 4;433.25 $4,190,163.51 50% 2009* $24,448.14 $4,214,611.65 50% 2010* $24,448.14 $4,239,059.79 50% 2011* $24,448.14 $4,263,507.93 50% 2012* $24,448.14 $4,287,956.07 Criterion Tax Rebate TIF Rebate Agreement 50% 2008 $3,119.76 $4,291,075.83 50% 2009 $3,121.67 $4,294,197.50 50% 2010 $3,121.67 $4,297,319.17 50% 2011 $3,121.67 $4,300,440.84 50% 2012 $3,121.67 $4,303,562.51 Resolution No. 2008-1060 Page 3 Advanced Heat Treat TIF Rebate Agreement Rebate II 50% 2010 $38,622.96 $4,342,185.47 50% 2011 $38,622.96 $4,380,808.43 50% 2012 $38,622.96 $4,419,431.39 50% 2013 $38,622.96 $4,458,054.35 50% 2014 $38,622.96 $4,496,677.31 50% 2015 $38,622.96 $4,535,300.27 50% 2016 $23,173.78 $4,558,474.05 Cedar Valley Economic Principal $4,500.00 Contract $4,562,974.05 Development (Marketing) Midport Sign Fund 412 Principal $51,825.00 412 GO Bonds $4,614,799.05 Interest $23,665.40 412 GO Bonds $4,638,464.45 Midport Sign Fund 411 Principal $1.1,069.00 411 GO Bonds $4,649,533.45 Interest $7,637.70 411 GO Bonds $4,657,171.15 Cedar Valley FY 2004 Principal $17,500.00 Contract $4,674,671.15 Fund 413 Taxable Principal $200,000.00 413 GO Bonds $4,874,671.15 Interest $76,609.00 $4,951,280.15 Fund 413 Taxable- Principal $102,488.00 413 GO Bonds $4,848,792.15 Reallocate out of Midport Interest $38,889.00) $4,809,903.15 Fund 413 Tax Exempt Principal $100,000.00 413 GO Bonds $4,909,903.15 Interest $26,177.00 $4,936,080.15 Fund 413 Tax Exempt- Principal $55,358.87) 413 GO Bonds $4,880,721.28 Reallocate out of Midport Interest ($14,490.00) $4,866,231.28 Fund 413 Tax Exempt- Principal $41,466.93) 413 GO Bonds $4,824,764.35 Reallocate to Chamberlain Interest $10,856.00) $4,813,908.35 Fund 414 Taxable- Re- Principal $1,000.00 414 GO Bonds $4,814,908.35 allocate out of NE Ind Park Interest $488.00 $4,815,396.35 Greater Cedar Valley Principal $17,500.00 Contract $4,832,896.35 Alliance FYE2005 Greater Cedar Valley Principal $17,500.00 Contract $4,850,396.35 Alliance FYE2006 Greater Cedar Valley Principal $17,500.00 Contract $4,867,896.35 Alliance FYE2007 Greater Cedar Valley Principal $32,000.00 Contract $4,899,896.35 Alliance FYE2008 1998 GO Bonds Refinanced Principal $153,991.00) 1998 GO Bonds $4,745,905.35 -Deduct Old Debt Service Interest $25,186.00) $4,720,719.35 1999 GO Bonds Refinanced Principal $482,21.6.00 1999 GO Bonds $4,238,503.35 - Deduct Old Debt Service Interest ($173,967.00) $4,064,536.35 1998 GO Bonds Refinanced Principal $155,051.00 2007 GO Bonds $4,219,587.35 - Add New Debt Service Interest $22,397.00 $4,241,984.35 1999 GO Bonds Refinanced Principal $485,540.00 2007 GO Bonds $4,727,524.35 - Add New Debt Service Interest $135,891.00 $4,863,415.35 *Estimated Resolution No. 2008-1060 Page 4 EXHIBIT "B" Cumulative as of June 30, 2008 Project Designation: Airport Tax Increment Redevelopment Area 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 1996 $0.00 $0.00 2 FY 1997 $0.00 $0.00 3 FY 1998 $0.00 $0.00 4 FY 1999 $0.00 $0.00 5 FY 2000 $199,485.92 $199,485.92 6 FY 2001 $173,980.54 $373,466.46 7 FY 2002 $215,717.04 $589,183.50 8 FY 2003 $226,422.30 $815,605.80 9 FY 2004 $238,607.04 $1,054,212.84 10 FY 2005 $329,246.96, ,: $1,383,459.80 11 FY 2006 $272,132.01 $1,655,591.81 12 FY 2007 $352,005.51 $53,241.43 $2,060,838.75 13 FY 2008 $490,903.37 $22,100.85 $2,573,842.97 14 FY 2009* $923,000.00 $3,496,842.97 *Estimated Exhibit "A" June 30, 2006 (ANNUAL) Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) Date of Issuance or Description of Cumulative No. Expenditure Source Indebtedness Amount Amount Incurred Basic Materials (AADA) Principal Advance $0.00 FY 1997 Interest FY 06; $2,100.00 $2,100.00 Fed Ex Tax Rebate TIF Rebate Agreement 50% 2008* $23,125.00 $25,225.00 50% 2009* $23,125.00 $48,350.00 50% 2010* $23,125.00 $71,475.00 50% 2011* $23,125.00 $94,600.00 50% 2012* $23,125.00 $117,725.00 Criterion Tax Rebate TIF Rebate Agreement 50% 2008* $2,868.00 $120,593.00 50% 2009* $2,868.00 $123,461.00 50% 2010* $2,868.00 $126,329.00 50% 2011* $2,868.00 $129,197.00 50% 2012* $2,868.00 $132,065.00 Greater Cedar Valley Alliance Principal $17,500.00 Contract $149,565.00 FYE2006 *Estimated Rssolution No . 20081060 -Page 5 HHS s �vs n PASSED AND ADOPTED this 1st day of December, 2008 . mss ` 0 s �, CD r Tim Hurley, Mayor H n oTEST : s � < s - - �4ncEcl rt, CMC �C `C Jty Cler t F--, r-i� I 00 c � r- m � w � s H C Z)z 1 . 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