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Home My WebLink About2007-984-11/19/2007 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2007-984 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, 2007 Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program 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 INCURRED 147 W. Park Ave. PavingContract $273,409.61 Advance $273,409.61 91 Bridge CanopyContract $573,433.57 Advance $846,843.18 152 Fourth Street PavingContract $323,983.56 Advance $1,170,826.74 28 Bridge Lighting Contract $14,396.40 Advance $1,185,223.14 Phase I Studv Contract $15,000.00 Advance $1,200,223.14 Phase II Stud Contract $152,553.00 Advance $1,352,776.14 613 Water Ac uisition Contract $72,500.00 Advance $1,425,276.14 UDAG #17/17/80 Principal $1,001,627.00 GO Bonds $2,426,903.14 Interest $428,749.00 GO Bonds $2,855,652.14 Phase III Stud 12/20/80 Contract $111,000.00 Advance $2,966,652.14 UDAG #2 7/6/81 --Principal $774,990.00 GO Bonds $3,741,642.14 Interest $422,256.23 GO Bonds ---$4,163,898.37 West Side Parking Ramp Principa l $4,725,000.00 GO Bonds $8,888,898.37 7/15/82 Interes $4,779,262.50 GO Bonds $13,668,160.87 East Side Parking Ramp 8/1/83 Principal $1,500,000.00 GO Bonds $15,168,160.87 Interes $1,073,981.25 GO Bonds $16,242,142.12 East Side Parking Facility Princi $350,000.00 GO Bonds $16,592,142.12 8/1/84 Interest $325,777.00 GO Bonds $16,917,919.12 Conway Plaza Skywalk 8/1/84 Principal $100,000.00 GO Bonds $17,017,919.12 Interest $93,079.00 GO Bonds $17,110,998.1 East Fifth St. Parking Ramp 5/85 Princi al $50,000.00 GO Bonds $17,160,998.1 Interest $46,53950 GO Bonds $17,207,537.6 Resolution No. 2007-984 Page 2 Tax Redeemed Pro erties 5/857Contra $5,004.49 Advance $17,212,542.11 Sk walk Feasibility Stud 8/85 $25,000.00 Advance $17,237,542.11 317 E. 4th Longfellow Property $12,000.00 Advance $17,249,542.11 12/85 East Fifth Parking Ramp 5/86 $50,000.00 GO Bonds $17,299,542.11 Interest $37,051.09 GO Bonds $17,336,593.20 Ellis Hotel Demolition 8/86 Contract $15,000.00 Advance $17,351,593.20 Ellis Hotel Demolition 8/86 Contract $27,500.00 WIDA Advance $17,379,093.20 Paving 6/87 400 Blk E. 4th St. Principal $360,000.00 GO Bonds $17,739,093.20 500 Blk Lafayette Interest $233,134.09 GO Bonds $17,972,227.29 East Fifth Parking Ramp 6/87 Principal $100,000.00 GO Bonds $18,072,227.29 Interest $64,759.47 GO Bonds $18,136,986.76 Conway Plaza Phase I Skywalk Principal $100,000.00 GO Bonds $18,236,986.76 Refinancing 6/87 Interest $64,759.47 GO Bonds $18,301,746.23 4th St. Bridge Covered Walkway Contract $127,000.00 Advance $18,428,746.23 6/88 Conway Plaza Skywalk 7/88 & Loan $132,625.00 Advance $18,561,371.23 7/89 Park Avenue Parking Ramp Principal $2,000,000.00 GO Bonds $20,561,371.23 Expansion Interest $1,092,565.97 GO Bonds $21,653,937.20 Property acquisition for Principal $37,055.17 1996 GO Bonds $21,690,992.37 Waterloo Industries 5/98 Interest $19,020.08 1996 GO Bonds $21,710,012.45 Acquisition 5/98 Principal $37,944.83 1997 GO Bonds $21,747,957.28 Interest $18,369.06 1997 GO Bonds $21,766,326.34 Interest on Advance FY 98-00 TIF *$80,602.57 160.00 Interest $21,834,486.34 Acquisition& Demo FY 98-00 TIF 002.25 Contracts $21,950,488.59 Acquisitions & Demo FY 98-00 Principal654.75 1999 GO Bonds $22,598,143.34 Financing Interest 307.99 1999 GO Bonds $23,019,451.33 Acquisitions & Demo FY 00 Principal 2000 GO Bonds $23,100,053.90 Financing Interest $42,108.59 2000 GO Bonds $23,142,162.49 Parking Ramp Reconstruction Principal $150,000.00 1998 GO Bonds $23,292,162.49 FY 99-00 Financing Interest $69,826.77 1998 GO Bonds $23,361,989.26 Johnson Rebate # 1 & 2 Principal TIF Rebate 5 yrs @ 100%, 8 yrs @ 100% 2000 $20,934.30 $23,382,923.56 2001 $21,381.91 $23,404,305.47 2002 $34,795.88 $23,439,101.35 2003 $35,043.46 $23,474,144.81 2004 $37,174.38 $23,511,319.19 2005 $21,086.46 $23,532,405.65 2006 $22,056.54 $23,554,462.19 *2007 $13,472.74 $23,567,934.93 *2008 $13,472.74 $23,581,407.67 *2009 $13,472.74 $23,594,880.41 GSW Rebate 5 yrs. @ 100% Principal TIF Rebate 2001 $9,747.24 $23,604,627.65 2002 $10,982.28 $23,615,609.93 2003 $10,780.79 $23,626,390.72 2004 $11,732.94 $23,638,123.66 2005 $7,037.40 $23,645,161.06 Hollen Rebate 5 yrs. @ 100% Principal TIF Rebate 2001 $2,388.33 $23,647,549.39 2002 $2,954.68 $23,650,504.07 Resolution No . 2007-984 Page 3 Hollen Rebate 5 yrs. @ 100% 2003 $2,960.08 $23,653,464.15 2004 $3,156.64 $23,656,620.79 2005 $3,881.06 $23,660,501.85 Ritter Rebate 10 yrs @ 100% or Principal TIF Rebate until$20,910 is pd 2001 $2,660.86 $23,663,162.71 2002 $2,837.28 $23,665,999.99 2003 $2,873.50 $23,668,873.49 2004 $3,031.20 $23,671,904.69 2005 $3,539.38 $23,675,444.07 2006 $3,647.56 $23,679,091.63 *2007 $2,320.22 $23,681,411.85 Lown Rebate #1 5 yrs @ 100% Principal TIF Rebate 2001 $1,417.98 $23,682,829.83 2002 $1,694.74 $23,684,524.57 2003 $722.85 $23,685,247.42 2004 $1,005.92 $23,686,253.34 2005 $2,982.84 $23,689,236.18 Lown Rebate #2 5 yrs @ 100% Principal TIF Rebate 2001 $495.42 $23,689,731.60 2002 $565.50 $23,690,297.10 2003 $540.89 $23,690,837.99 2004 $604.16 $23,691,442.15 2005 $946.84 $23,692,388.99 Roberts Rebate 5 yrs @ 100% Principal TIF Rebate 2002? $0 $23,692,388.99 2003? $23,692,388.99 2004? $23,692,388.99 2005? $23,692,388.99 2006? $23,692,388.99 Marsh Place Rebate 10 yrs Principal TIF Rebate 85% 2003 $11,693.83 $23,704,082.82 85% 2004 $12,668.38 $23,716,751.20 85% 2005 $8,193.78 $23,724,944.98 85% 2006 $6,771.88 $23,731,716.86 *85% 2007 $6,777.58 $23,738,494.44 *85% 2008 $6,777.58 $23,745,272.02 *85% 2009 $6,777.57 $23,752,049.59 *75% 2010 $5,980.21 $23,758,029.80 *60% 2011 $4,784.17 $23,762,813.97 *45% 2012 $3,588.13 $23,766,402.10 Garthoff Rebate 5 yrs @ 100% Principal TIF Rebate 2003 $0 $23,766,402.10 2004 $23,766,402.10 2005 $23,766,402.10 2006 $23,766,402.10 2007 $23,766,402.10 Ament Rebate 5 yrs @ 100% Principal TIF Rebate 2002 $1,601.89 $23,768,003.99 2003 $1,585.43 $23,769,589.42 2004 $1,711.38 $23,771,300.80 2005 $2,332.32 $23,773,633.12 2006 $2,424.79 $23,776,057.91 Resolution No. 2007-984 Page 4 —r— MIK Rebate 5 yrs @ 100% Prir al T'F Reb ate 2002 $6,-n16.00 w23,782,573.91 2003 $6,278.34 $23,788,852.25 2004 $6,684.60 $23,795,536.85 2005 $.8,239.50 $23,803,776.35 2006 $8,540.82 $23,812,317.17 Micou Rebate Principal TIF Rebate $23,812,317.17 100% *2006 $595.15 $23,812,912.32 100% *2007 $2,135.84 $23,815,048.16 1000% *2008 $2,174.47 k$23,817,222.63 100% *2009 $2,174.47 19,397.10100% *2010 $2,174.47 21,571.57Cedar Skyline Rebate Principal TIF Rebate 21,571.57 Gilmor &Doyle 100%*2003-2006 2007 $49,742.55 $23,871,314.12 Gilmor &Doyle 100%* 2007 Principal $15,292.97 $23,886,607.09 Landau Rebate 10 yrs @ 100% Principal TIF Rebate 2003 $13,646.60 $23,900,253.69 2004 $14,427.14 $23,914,680.83 2005 $17,025.24 $23,931,706.07 2006 $17,615.74 $23,949,321.81 *2007 $20,435.62 $23,969,757.43 *2008 $20,435.63 $23,990,193.06 *2009 $20,435.63 $24,010,628.69 *2010 $20,435.63 $24,031,064.32 *2011 $20,435.63 $24,051,499.95 *2012 $20,435.63 $24,071,935.58 Orr Haffa Rebate 7 yrs @ 100% Principal *2008 $7,424.21 $24,079,359.79 *2009 $7,424.21 $24,086,784.00 *2010 $7,424.21 $24,094,208.21 *2011 $7,424.21 $24,101,632.42 *2012 $7,424.21 $24,109,056.63 *2013 $7,424.21 $24,116,480.84 *2014 $7,424.21 $24,123,905.05 Slife Rebate 8 yrs @ 100% Principal *2008 $6,152.58 $24,130,057.63 *2009 $6,152.58 $24,136,210.21 *2010 $6,152.58 $24,142,362.79 *2011 $6,152.58 $24,148,515.37 *2012 $6,152.58 $24,154,667.95 *2013 $6,152.58 $24,160,820.53 *2014 $6,152.58 $24,166,973.11 *2015 $6,152.58 $24,173,125.69 Courier Rebate 10 yrs @ 100% Principal *2008 $9,161.62 $24,182,287.31 *2009 $9,161.62 $24,191,448.93 *2010 $9,161.62 $24,200,610.55 *2011 $9,161.62 $24,209,772.17 *2012 $9,161.62 $24,218,933.79 *2013 $9,161.62 $24,228,095.41 *2014 $9,161.62 $24,237,257.03. s *2015 $9,161.62 $24,246,418.65 *2016 $9,161.62 $24,255,580.27 *2017 $9,161.62 $24,264,741.89 Resolution No. 2007-984 Page 5 NCN Ltd. Rebate 7 yrs @ 100% Principal TIF Rebate 2009* $78,000.00 $24,342,741.89 2010* $78,000.00 $24,420,741.89 2011* $78,000.00 $24,498,741.89 2012* $78,000.00 $24,576,741.89 2013* $78,000.00 $24,654,741.89 2014* $78,000.00 524,732,741.89 2015* $78,000.00 $24,810,741.89 Hollen II Rebate 5 yrs @ 100% Principal TIF Rebate 2007* $1,793.46 $24,812,535.35 2008* $1,793.46 $24,814,328.81 2009* $1,793.46 $24,816,122.27 2010* $1,793.46 $24,817,915.73 2011* $1,793.46 $24,819,709.19 CN Bank-3rd Floor 10yrs @ 100% Principal TIF Rebate 2009* $10,275.00 $24,829,984.19 2010* $10,275.00 $24,840,259.19 2011* $10,275.00 $24,850,534.19 2012* $10,275.00 $24,860,809.19 2013* $10,275.00 $24,871,084.19 2014* $10,275.00 $24,881,359.19 2015* $10,275.00 $24,891,634.19 2016* $10,275.00 $24,901,909.19 2017* $10,275.00 $24,912,184.19 2018* $10,275.00 $24,922,459.19 JSA Development 5 yrs @ 100% Principal TIF Rebate $24,922,459.19 2009* $6,225.47 $24,928,684.66 2010* $6,225.47 $24,934,910.13 2011* $6,225.47 $24,941,135.60 2012* $6,225.47 $24,947,361.07 2013* $6,225.47 $24,953,586.54 Downtown Redevelopment 6/01 Principal $307,500.00 2001 GO Bonds $25,261,086.54 Interest $145,177.00 2001 GO Bonds $25,406,263.54 SSMID Taxes Principal $66,512.46 Contract $25,472,776.00 Downtown St. RISE Match Princi al $150,000.00 2003 GO Bonds $25,622,776.00 Fund 413 Interest $32,912.00 2003 GO Bonds $25,655,688.00 US 63 Study Principal $50,000.00 2001 GO Bonds $25,705,688.00 Fund 411 Interest $23,446.50 2001 GO Bonds $25,729,134.50 Windows on Waterloo V Principal $11,002.00 2002 GO Bonds $25,740,136.50 Fund 412 Interest $7,674.00 2002 GO Bonds $25,747,810.50 Downtown Redevelopment Principal $200,000.00 2003 GO Bonds $25,947,810.50 Fund 413 Interest $47,888.00 2003 GO Bonds $25,995,698.50 Downtown Redevelopment Principal $55,358.07 2003 GO Bonds $26,051,056.57 Fund 413 Interest $14,490.00 2003 GO Bonds $26,065,546.57 Downtown Redevelopment Principal $78,114.59 2003 GO Bonds $26,143,661.16 Fund 413 Interest $18,707.00 2003 GO Bonds $26,162,368.16 t�bwntown Street Lighting Principal $40,000.00 2004 GO Bonds $26,202,368.16 (�Fund 414 Interest $13,450.00 2004 GO Bonds $26,215,818.16 Kia -in—Street Street 2004 Principal $30,000.00 Contract $26,245,818.16 SSMID 2003 Principal $56,641.16 Contract $26,302,459.32 SSMID 2004 Principal $896.59 Contract $26,303,355.91 Main Street 2005 Principal $30,000.00 Contract $26,333,355.91 Downtown Acquisition Principal $140,000.00 2004 GO Bonds $26,473,355.91 Fund 414 (taxable) Interest $71,380.00 2004 GO Bonds $26,544,735.91 1ndewalle Contract Fund 414 Principal $60,000.00 2004 GO Bonds $26,604,735.91 Resolution No. 2007-984 Page 6 Vandewalle Contract Fund 414 Interest $23,225.36 2004 GO Bonds $26,627,961.27 Downtown Redevelopment Principal $215,000-001 2004 GO Bonds $26,842,961.27 Fund 414 Interest $80,212.62 2004 GO Bonds $26,923,173.89 Downtown Street Lighting Principal $10,000.00 2004 GO Bonds $26,933,173.89 Fund 414 Interest $3,965.36 2004 GO Bonds $26,937,139.25 Main Street 2006 Principal $30,000.00 Contract $26,967,139.25 Downtown Acquisition Principal $150,000.00 2004 GO Bonds $27,117,139.25 Fund 414 Interest $53,362.50 2004 GO Bonds $27,170,501.75 Downtown Acquisition Principal $850,000.00 2005 GO Bonds $28,020,501.75 Fund 415 Interest $282,397.50 2005 GO Bonds $28,302,899.25 Downtown Dev Principal $100,000.00 2006 GO Bonds $28,402,899.25 Fund 406 tax exempt Interest $40,915.00 2006 GO Bonds $28,443,814.25 WDC Properties I Acquisition Principal $240,000.00 Advance $28,683,814.25 Contract Interest $24,330.00 Advance $28,708,144.25 Downtown Dev. Principal $500,000.00 2006 GO Bonds $29,208,144.25 Fund 406 tax exempt Interest $194,662.60 2006 GO Bonds $29,402,806.85 Downtown Property Acq. Principal $546,079.28 Advance $29,948,886.13 Main Street 2007 Principal $30,000.00 Contract $29,978,886.13 Main Street 2008 Principal $30,000.00 Contract $30,008,886.13 1998 GO Bonds Refinanced - Principal ($87,000.00) 1998 GO Bonds $29,921,886.13 Deduct Old Debt Service Interest ($14,231.00) 1998 GO Bonds $29,907,655.13 1998 GO Bonds Refinanced- Principal $87,600.00 2007 GO Bonds $29,995,255.13 Add New Debt Service Interest $12,654.00 $30,007,909.13 1999 GO Bonds Refinanced - Principal ($287,327.00) 1999 GO Bonds $29,720,582.13 Deduct Old Debt Service Interest ($103,658.00) 1999 GO Bonds $29,616,924.13 1999 GO Bonds Refinanced- Principal $289,301.00 2007 GO Bonds $29,906,225.13 Add New Debt Service Interest $80,969.00 $29,987,194.13 Fund 407 Pump Station Principal $1,050,000.00 2007 GO Bonds $31,037,194.13 Interest $379,495.00 $31,416,689.13 Fund 407 Parking Ramp Principal $700,000.00 2007 GO Bonds $32,116,689.13 Interest $257,645.00 $32,374,334.13 Fund 407 Property Acq. Principal $200,000.00 2007 GO Bonds $32,574,334.13 Tax exempt Interest $74,550.00 $32,648,884.13 Fund 407 Property Acq. Principal $200,000.00 2007 GO Bonds $32,848,884.13 Taxable Interest $71,112.50 $32,919,996.63 Fund 407 Development Plan Principal $100,000.00 2007 GO Bonds $33,019,996.63 Interest $39,250.00 $33,059,246.63 *Estimated Resolution No. 2007-984 Page 7 Exhibit "B" Cumulative as of June 30, 2007 Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) Amount Received from Payments under Sec. 402.12(2) - Other Revenue No. Year Received TIF Received Cumulative Amount 1 FY 1977 $22,566.19 $22,566.19 2 FY 1978 $50,863.5 $$73,429.69 3 FY 1979 $163,010.80 $236,440.49 4 FY 1980 $216,795.08 $453,235.57 5 FY 1981 $319,027.40 $772,262.97 6 FY 1982 $385,731.14 $1,157,994.11 7 FY 1983 $476,100.00 $1,634,094.11 8 FY 1984 $534,281.00 $2,168,375.11 9 FY 1985 $582,411.43 $2,750,786.54 10 FY 1986 $773,667.04 $72,793.00 $3,597,246.58 11 FY 1987 $829,625.00 $121,738.00 $4,548,609.58 12 FY 1988 $778,965.94 $73,975.00 $5,401,550.52 13 FY 1989 $607,992.00 $76,019.00 $6,085,561.52 14 FY 1990 $1,104,273.00 $199,453.84 $7,389,288.36 15 FY 1991 $911,105.00 $292,043.20 $8,592,436.56 16 FY 1992 $887,043.00 $136,932.05 $9,616,411.61 17 FY 1993 $881,666.00 $131,685.90 $10,629,763.51 18 FY 1994 $897,520.00 $146,935.03 $11,674,218.54 19 FY 1995 $752,642.00 $131,841.98 $12,558,702.52 20 FY 1996 $657,480.00 $203,285.29 $13,419,467.81 21 FY 1997 $602,482.27 $207,785.90 $14,229,735.98 22 FY 1998 $552,575.59 $198,774.53 $14,981,086.10 23 FY 1999 $599,707.53 $72,765.79 $15,653,559.42 24 FY 2000 $549,044.97 $72,000.00 $16,274,604.39 25 FY 2001 $781,750.82 $72,000.00 $17,128,355.21 26 FY 2002 $874,603.46 $72,000.00 $18,074,958.67 27 FY 2003 $797,581.70 $72,000.00 $18,944,540.37 28 FY 2004 $746,995.28 $19,691,535.65 29 FY 2005 $849,326.72 $20,540,862.37 30 FY 2006 $972,617.30 $21,513,479.67 31 FY 2007 $935,872.08 $143,555.751 $22,592,907.50 32 FY 2008* $1,000,000.00 $23,592,907.50 Estimated Values # Includes Special Assessments and Parking Revenue Resolution No . 2007-984 Page 8 Exhibit "A" June 30,2006 - Annual Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program 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 NCN Ltd.Rebate 7 yrs @ Principal TIF Rebate 100% 2009* $78,000.00 $78,000.00 2010* $78,000.00 $156,000.00 2011* $78,000.00 $234,000.00 2012* $78,000.00 $312,000.00 2013* $78,000.00 $390,000.00 2014* $78,000.00 $468,000.00 2015* $78,000.00 $546,000.00 2016* $78,000.00 $624,000.00 Hollen II Rebate 5 yrs. @ Principal 100% 2007* $2,000.00 $626,000.00 2008* $2,000.00 $628,000.00 2009* $2,000.00 $630,000.00 2010* $2,000.00 $632,000.00 2011* $2,000.00 $634,000.00 CN Bank-3rd Floor 10 yrs. @ Principal 100% 2009* $10,275.00 $644,275.00 2010* $10,275.00 $654,550.00 2011* $10,275.00 $664,825.00 2012* $10,275.00 $675,100.00 2013* $10,275.00 $685,375.00 2014* $10,275.00 $695,650.00 2015* $10,275.00 $705,925.00 Main Street 2006 Principal $30,000.00 Contract $735,925.00 WDC Loan Interest Interest $10,800.00 Advance $746,725.00 Downtown Acquisition Principal $150,000.00 GO Bonds $896,725.00 Fund 414 Interest $53,362.50 GO Bonds $950,087.50 Downtown Dev. Fund 406 Principal $100,000.00 GO Bonds $1,050,087.50 tax exempt Interest $40,915.00 GO Bonds $1,091,002.50 Downtown Dev. Fund 406 Principal $500,000.00 GO Bonds $1,591,002.50 tax exempt Interest $194,662.00 GO Bonds $1,785,664.30 Downtown Property Acq. Principal $-546,879.001 Advance $2,332,543.50 *Estimated � H �.. H — — R'ntiution No. 2007-984 PaC eH9 _ H s v s C') PASSED AND ADOPTED th-t 19`x" day if 1 ,) ember; 2007 H CY 5 ,i t17 M mss M d Reggie Schmitt, Mayor Pro Tem H n s P4ST: H ¢ n -7 Iry Ecker CMC City Clerk 00 H ,, 4C C Z, N T c� C' C ti H N ¢ m � s rH H H tr' C tC t� O H -3 ,- C x tri PHP-��US .OSI noi�r.�c4��I Pam c�3 7CHH z cn z n 700S z9cLnsT,:; i 3c ysx t _, t Q3TgD y Cl VA Q3aaAqtt x c t-nrnx -3 Her z 71 H N cn C C H O MOT oaq YoysM ,Jjimfioa sippeSid m c t- C/ H n H TEVVF o � H z H � z DMD yV -ri H co o c 4P r H rx rn rt H C-) ay o C C rz Cn H m •t m > zx H C7 H 71 H r O O ',b