HomeMy WebLinkAbout5253-11/17/2014Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
ORDINANCE NO. 5253
AN ORDINANCE AMENDING ORDINANCE NO. 5172,
PROVIDING THAT GENERAL PROPERTY TAXES LEVIED
AND COLLECTED EACH YEAR ON ALL PROPERTY
LOCATED WITHIN THE AMENDED AND RESTATED
CROSSROADS WATERLOO URBAN RENEWAL AND
REDEVELOPMENT PLAN 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 AN
INDEBTEDNESS, INCLUDING BONDS ISSUED OR TO
BE ISSUED, INCURRED BY SAID CITY IN
CONNECTION WITH THE AMENDED AND RESTATED
CROSSROADS WATERLOO URBAN RENEWAL AND
REDEVELOPMENT PROJECT.
WHEREAS, the City Council of the City of Waterloo, Iowa has
heretofore, in Ordinance No. 5172, provided for the division of
taxes within the Crossroads Waterloo Urban Renewal and
Redevelopment Plan Project Area, pursuant to Section 403.19 of
the Code of Iowa; and
WHEREAS, the terms of the Crossroads Waterloo Urban Renewal
and Redevelopment Plan have been amended and restated with
respect to the Project Area; and
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 said
Project Area, and the continuing needs of redevelopment within
the amended and restated Project Area are such as to require the
continued application of the incremental tax resources of the
amended and restated Project Area; and
WHEREAS, the following enactment is an amendment and
restatement of prior actions and is necessary to accomplish the
objectives described in the Amended and Restated Crossroads
Waterloo Urban Renewal and Redevelopment Plan.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA THAT:
Ordinance Number 5172 is hereby amended and restated to
read as follows:
Section 1: For purposes of this Ordinance, the following
terms shall have the following meanings:
Ordinance No. 5253
Page 2
(a) Original Project Area shall mean that portion of
the City of Waterloo, Iowa described in the Urban
Renewal and Redevelopment Plan for the Crossroads
Waterloo Urban Renewal Area approved by Ordinance
No. 5172, adopted on September 3, 2013, which
Original Project Area includes the lots and
parcels located within the area legally described
as follows:
Beginning at the point where the centerline
of East San Marnan Drive intersects the
centerline of La Porte Road; thence
Northeasterly along the centerline of East
San Marnan Drive to its intersection with the
centerline of U.S. Highway 218 as presently
established; thence Southeasterly along the
centerline of U.S. Highway 218 to its
intersection with the East line of Section 13
of Township 88 North, Range 13 West; thence
South along the East line of said Section 13
to its intersection with the South line of
the North Half of said Section 13; thence
West along the South line of the North Half
of said Section 13 to its intersection with
the West line of said Section 13; thence
North along the West line of said Section 13
and the West line of Section 12 of Township
88 North, Range 13 West to its intersection
with the Northwest corner of said Section 12;
thence West along the North line of Section
11 of Township 88 North, Range 13 West to its
intersection with the centerline of Alexandra
Drive; thence Southerly along the centerline
of Alexandra Drive to its intersection with
the centerline of Southtown Drive; thence
Easterly along the centerline of Southtown
Drive to its intersection with the Westerly
line of Crossroads Estates Replat No. 1;
thence Southerly along the Westerly line of
Crossroads Estates Replat No. 1 to its
intersection with the Southeast corner of Lot
9 of Southtown; thence S00039122"E 148.99
feet; thence S89028'31"W 260.99 feet to a
point that is 149.00 feet South of the
Southwest corner of said Lot 9; thence
Southerly along an extension of the West line
of said Lot 9 to its intersection with the
centerline of U.S. Highway 20 as presently
established; thence Westerly along the
centerline of U.S. Highway 20 to its
intersection with the West line of Section 11
of Township 88 North, Range 13 West; thence
North along the West line of said Section 11
and the West line of Section 2 of Township 88
North, Range 13 West to its intersection with
the centerline of Flammang Drive; thence
Easterly and Southeasterly along the
centerline of Flammang Drive to its
Ordinance No. 5253
Page 3
intersection with a Southwesterly extension
of the Northwesterly line of Schukei
Commercial Park; thence Northeasterly along a
Southwesterly extension of the Northwesterly
line of Schukei Commercial Park and the
Northwesterly line of Schukei Commercial Park
to its intersection of the centerline of
Schukei Road; thence Northwesterly along the
centerline of Schukei Road to its
intersection with a Southwesterly extension
of the Northwesterly line of Lot 2 of Phoenix
Addition; thence Northeasterly along a
Southwesterly extension of the Northwesterly
line of said Lot 2 to the Southwesterly
corner of said Lot 2; thence Northeasterly,
Northerly, Easterly, Northerly and Easterly
along the Westerly and Northerly lot lines of
said Lot 2 to the Northeast corner of said
Lot 2; thence Easterly along an Easterly
extension of the Northerly most lot line of
said Lot 2 to its intersection with the
centerline of Camelot Drive; thence Northerly
along the centerline of Camelot Drive and a
Northerly extension of the centerline of
Camelot Drive, said extension also being the
Easterly line of the Preserve at Crossroads
and the Easterly line of Orange Park, to its
intersection with the centerline of East
Ridgeway Avenue; thence Easterly along the
centerline of East Ridgeway Avenue to the
centerline of La Porte Road; thence
Southeasterly along the centerline of La
Porte Road to its intersection with the
centerline of East San Marnan Drive and the
Point of Beginning.
(b) Amended and Restated Project Area shall mean that
portion of the City of Waterloo, Iowa described
in the Amended and Restated Urban Renewal and
Redevelopment Plan for the Crossroads Waterloo
Urban Renewal and Redevelopment Area, which
includes the lots and parcels located in the area
legally described as follows:
Beginning at the point where the centerline
of East San Marnan Drive intersects the
centerline of La Porte Road; thence
Northeasterly along the centerline of East
San Marnan Drive to its intersection with
the centerline of U.S. Highway 218 as
presently established; thence Southeasterly
along the centerline of U.S. Highway 218 to
its intersection with the East line of
Section 13 of Township 88 North, Range 13
West; thence South along the East line of
said Section 13 to its intersection with the
South line of the North Half of said Section
13; thence West along the South line of the
Ordinance No. 5253
Page 4
North Half of said Section 13 to its
intersection with the West line of said
Section 13; thence North along the West line
of said Section 13 and the West line of
Section 12 of Township 88 North, Range 13
West to its intersection with the Northwest
corner of said Section 12; thence West along
the North line of Section 11 of Township 88
North, Range 13 West to a point that would
intersect a Southerly extension of the East
line of Lot 1 of Crossroads Plat No. 3;
thence Northerly along a Southerly extension
of the East line of said Lot 1 to the
Southeast corner of said Lot 1; thence
Westerly along the South line of said Lot 1
and a westerly extension of the South line
of said Lot 1 to its intersection with the
centerline of Alexandra Drive; thence
Southerly along the centerline of Alexandra
Drive to its intersection with the
centerline of Southtown Drive; thence
Easterly along the centerline of Southtown
Drive to its intersection with the Westerly
line of Crossroads Estates Replat No. 1;
thence Southerly along the Westerly line of
Crossroads Estates Replat No. lto its
intersection with the Southeast corner of
Lot 9 of Southtown; thence S00039122"E
148.99 feet; thence S89028131"W 260.99 feet
to a point that is 149.00 feet South of the
Southwest corner of said Lot 9; thence
Southerly along an extension of the West
line of said Lot 9 to its intersection with
the centerline of U.S. Highway 20 as
presently established; thence Westerly along
the centerline of U.S. Highway 20 to its
intersection with the West line of Section
11 of Township 88 North, Range 13 West;
thence North along the West line of said
Section 11 and the West line of Section 2 of
Township 88 North, Range 13 West to its
intersection with the centerline of Flammang
Drive; thence Easterly and Southeasterly
along the centerline of Flammang Drive to
its intersection with a Southwesterly
extension of the Northwesterly line of
Schukei Commercial Park; thence
Northeasterly along a Southwesterly
extension of the Northwesterly line of
Schukei Commercial Park and the
Northwesterly line of Schukei Commercial
Park to its intersection of the centerline
of Schukei Road; thence Northwesterly along
the centerline of Schukei Road to its
intersection with a Southwesterly extension
of the Northwesterly line of Lot 2 of
Phoenix Addition; thence Northeasterly along
a Southwesterly extension of the
Ordinance No. 5253
Page 5
Northwesterly line of said Lot 2 to the
Southwesterly corner of said Lot 2; thence
Northeasterly, Northerly, Easterly,
Northerly and Easterly along the Westerly
and Northerly lot lines of said Lot 2 to the
Northeast corner of said Lot 2; thence
Easterly along an Easterly extension of the
Northerly most lot line of said Lot 2 to its
intersection with the centerline of Camelot
Drive; thence Northerly along the centerline
of Camelot Drive and a Northerly extension
of the centerline of Camelot Drive, said
extension also being the Easterly line of
the Preserve at Crossroads and the Easterly
line of Orange Park, to its intersection
with the centerline of East Ridgeway Avenue;
thence Easterly along the centerline of East
Ridgeway Avenue to the centerline of La
Porte Road; thence Southeasterly along the
centerline of La Porte Road to its
intersection with the centerline of East San
Marnan Drive and the Point of Beginning.
Section 2: The taxes levied on the taxable property in the
Amended and Restated Project Area, 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 Amended and Restated Project Area,
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 Amended and Restated Project
Area upon the total sum of the assessed value of the taxable
property in the Amended and Restated Project Area as shown on
the assessment roll as of January 1, 2012, being the first day
of the calendar year preceding the effective date of Ordinance
No. 5172, 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 herein as the
"base period taxes" for such area. Because the Amended and
Restated Project Area is substantially identical to the Original
Project Area, the based period taxes for the Amended and
Restated Project Area are not reset to correspond to the
effective date of this Ordinance, but shall continue as
originally set in relation to the effective date of Ordinance
No. 5172.
Section 4: That portion of the taxes each year in excess
of the base period taxes for the Amended and Restated Project
Area shall be allocated to and when collected be paid into the
special tax increment fund previously established by the City of
Waterloo to pay the principal of and interest on loans, monies
advanced to, or indebtedness, whether funded, refunded, assumed
or otherwise, including bonds issued under authority of Section
Ordinance No. 5253
Page 6
403.9 or Section 403.22 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 Amended and
Restated Project Area pursuant to the Urban Renewal Plan, as
amended and restated, except that taxes for the regular and
voter -approved physical plant and equipment levy of a school
district imposed pursuant to Section 298.2 of the Code of Iowa
and taxes for the payment of bonds and interest of each taxing
district shall be collected against all taxable property within
the Amended and Restated Project Area without any limitation as
hereinabove provided.
Section 5: Unless or until the total assessed valuation of
the taxable property in the areas of the Amended and Restated
Project Area exceeds the total assessed value of the taxable
property in said area shown by the last equalized assessment
rolls referred to in Section 3 of this Ordinance, all of the
taxes levied and collected upon the taxable property in the
Amended and Restated Project 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 Amended and Restated Project 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
shall be construed so as to continue the division of taxes from
property within the Original Project Area under the provisions
of Section 403.19 of the Code of Iowa, as authorized in
Ordinance No. 5172. 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 Amended and Restated Project 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:
November
17,
2014
PASSED lst CONSIDERATION:
November
17,
2014
PASSED 2nd CONSIDERATION:
November
17,
2014
PASSED 3rd CONSIDERATION:
November
17,
2014
r
c
Ordinance No. 5253
Page 7
PASSED AND ADOPTED this
ATTEST:
Suzy Sch es, CMC
City Clerk
17th da of November, 2014.
i
Ernest G. Clark, Mayor
CERTIFICATE
I, Suzy Schares, City Clerk of the City of Waterloo, Iowa,
do hereby certify that the preceding is a true and complete copy
of Ordinance No. 5253, as passed and adopted by the Council of
the City of Waterloo, Iowa, on the 17th day of November, 2014.
Witness my hand and seal of office this 17th day of
November, 2014.
Suzy Sc ares, CMC
City Cl rk