HomeMy WebLinkAbout5249-10/27/2014Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
ORDINANCE NO. 5249
AN ORDINANCE AMENDING ORDINANCE NOS. 4204
AND 4708, PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON ALL
PROPERTY LOCATED WITHIN THE AMENDED MARTIN
ROAD DEVELOPMENT 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 MARTIN ROAD
DEVELOPMENT PROJECT.
WHEREAS, the City Council of the City of Waterloo, Iowa has
heretofore, in Ordinance No. 4204 and Ordinance No. 4708,
provided for the division of taxes within the Martin Road
Development Plan Project Area, pursuant to Section 403.19 of the
Code of Iowa; and
WHEREAS, additional territory now has been added to the
Martin Road Development 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 Project Area are such as to require the continued
application of the incremental tax resources of the amended
Project Area; and
WHEREAS, the following enactment is necessary to accomplish
the objectives described in the Martin Road Development Plan, as
amended.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA THAT:
Ordinance Numbers 4204 and 4708 are hereby amended to read
as follows:
Section 1: For purposes of this Ordinance, the following
terms shall have the following meanings:
(a) Original Project Area shall mean that portion of
the City of Waterloo, Iowa described in the urban
renewal and redevelopment plan for the Martin
Road Development Plan Area approved by Resolution
No. 1996-673 adopted on October 7, 1996, which
Ordinance No. 5249
Page 2
Original Project Area includes the lots and
parcels located within the area legally described
as follows:
Part of Section 32, Township 89 North, Range
13 West, and Section 33, Township 89 North, Range
13 West, City of Waterloo, Black Hawk County,
Iowa, described as follows: Beginning at a point
on the east line of said Section 32 that is four
hundred twenty (420) feet south of the northeast
corner of the northeast quarter of the southeast
quarter of said Section, thence south along said
east line to its intersection with the northerly
right-of-way line of Martin Road, thence
northeasterly and easterly along said right-of-
way line and an extension thereof to its
intersection with the centerline of U.S. Highway
63, thence southwesterly along said centerline to
its intersection with the south line of Section
33, thence westerly along the south line of
Sections 33 and 32 to the southwest corner of the
southeast quarter of the southeast quarter of
Section 32, thence north to the southwest corner
of the northeast quarter of the southeast quarter
of said Section 32, thence northeasterly to a
point that is nine hundred ninety (990) feet east
of and six hundred seventy five (675) feet north
of the southwest corner of the northeast quarter
of the southeast quarter of said Section 32,
thence continuing northeasterly to the point of
beginning.
(b) Amendment No. 1 Area shall mean that portion of
the City of Waterloo, Iowa described in Amendment
No. 1 to the urban renewal and redevelopment plan
for the Martin Road Development Plan Area
approved by Resolution No. 2004-522, adopted on
August 9, 2004, which Amendment No. 1 Area
includes the lots and parcels located within the
area legally described as follows:
Beginning at the point of intersection of
the centerline of U.S. Highway 63 (Sergeant Rd.)
and the North line of the Southeast 1-4 of the
Southwest 1-4 of Section 33, Township 89 North,
Range 13 West, thence East along the North line
of said Southeast 1-4 of the Southwest �-,4 of said
Section to the Southeasterly right-of-way line of
U.S. Highway 63 (Sergeant Rd.), thence
Southwesterly along said right-of-way to its
intersection with the West line of the Southeast
1-4 of the Southwest 1-4 of said Section, thence
South 89050115" East a distance of 432.65',
thence South 1040130" East to the South line of
said Section, thence West along said South line
to the point where it would intersect the
Northerly extension of the East line of Tract A
Ordinance No. 5249
Page 3
of Kingswood Second Addition to Waterloo, thence
South along the extension of and the East line of
Tract A to the Northwest corner of Lot 15,
Kingswood First Addition, said point also being a
point on the Easterly line of Lot 6 of South
Waterloo Commercial Park, thence Southeasterly
following the Easterly line of said Lot 6 to the
most Southeasterly corner of said lot, thence
Southwesterly and Westerly along the South line
of said lot to an angle point on the South line
of said Lot 6, which is also a point on the West
line of Section 5, Township 88 North, Range 13
West, thence South along the West line of said
Section to the North line of the Southeast 4-4 of
the Southeast 1-4 of Section 6, Township 88 North,
Range 13 West, thence West along the North line
of the Southeast 1-4 of the Southeast 1-4 and the
North line of the Southwest 1-4 of the Southeast 14
to a point on the Northwesterly right-of-way line
of the Chicago Great Western Railroad (now
abandoned), thence South 35031130" West 850.21
feet along said line, thence North 72026'10" West
1005.02 feet, thence Westerly 637.85 feet along a
7,789.65 foot radius curve, concave Southerly,
having a chord bearing North 75°14'03" West
637.67 feet, thence North 77034136" West 835.86
feet, thence North 06019'51" East 32.15 feet to
the South line of the Northwest 1-4 of the
Southwest 1-4 of Section 6, Township 88 North,
Range 13 West, thence East along said line to the
West line of the Northeast -1--4 of the Southwest 1-4
of said Section, thence North along the West line
of the Northeast �-4 of the Southwest 1-4 to the
North line of the Northeast 1-4 of the Southwest
of said Section, thence East along said North
line to a point on the East line of the West 440
feet of the East one-half of the Northwest
fractional 14 of said Section, thence North along
the East line of the West 440 feet of the East
one-half of the Northwest fractional 1-4 to the
North line of said Section 6, thence East along
the North line of said Section 6, which is also
the South line of Section 32, Township 89 North,
Range 13 West, to the West line of the East 475
feet of the Southwest 1-4 of the Southeast :k4 of
Section 32, thence North 790 feet along said West
line, thence East 475 feet to the West line of
the Southeast '-4 of the Southeast 1-4 of said
Section, thence South along the West line of the
Southeast 1-4 of the Southeast 1-4 to the South line
of Section 32, thence East along the South line
of Section 32, Township 89 North, Range 13 West,
and Section 33, Township 89 North, Range 13 West,
to the centerline of U.S. Highway 63 (Sergeant
Rd.), thence Northeasterly along said centerline
to the point of beginning, all in the City of
Waterloo, Black Hawk County, Iowa.
Ordinance No. 5249
Page 4
(c) Amendment
No. 2 Area shall mean that portion of
the City of Waterloo, Iowa described in Amendment
No. 2 to the urban renewal and redevelopment plan
for the Martin Road Development Plan Area
approved by Resolution No. 5249, adopted on
October 27, 2014, which Amendment No. 2 Area
includes the lots and parcels located within the
area legally described as follows:
Beginning at the intersection of the North
line of the Southeast 1-4 of the Southwest �,4 of
Section 33, Township 89 North, Range 13 West and
the Southeasterly right-of-way line of U.S.
Highway 63 (Sergeant Road); thence Southwesterly
along said right-of-way to its intersection with
the West line of the Southeast �,4 of the Southwest
1-4 of said Section 33; thence South 89°50'15" East
a distance of 432.65'; thence South 1°40'30" East
to the South line of said Section; thence East
along said South line to the Southeast corner of
the Southeast 1-4 of the Southwest 1-4 of said
Section 33; thence North along the East line of
said Southeast 1-4 of the Southwest 1-4 of Section 33
to the Northeast corner of the said Southeast 1-4
of the Southwest 1-4 of Section 33; thence West
along the North line of said Southeast 1-4 of the
Southwest 1-4 of Section 33 to the point of
beginning;
And also: Beginning at a point on the
Northwesterly right-of-way line of the Chicago
Great Western Railroad (now abandoned) that is
South 35031'30" West 850.21 feet from a point on
said Northwesterly right-of-way line that
intersects the North line of the Southwest �,4 of
the Southeast 1-4 of Section 6, Township 88, Range
13; thence South to the centerline of U.S.
Highway 20 as presently established; thence
Southeasterly along the centerline of U.S.
Highway 20 as presently established to its
intersection with the East line of Section 7,
Township 88 North, Range 13 West; thence
Southerly along the East line of said Section 7
to a point that is 745.6 feet South of the
Northeast corner of said Section 7; thence West
70.6 feet; thence South 419.6 feet; thence
Southerly 265.5 feet along a 407.5' radius curve
concave Westerly having a chord bearing South
18040' West 260.8 feet; thence South 37020' West
149.5 feet; thence North 52°17.5' West 643.0
feet; thence South 37°42' West 450 feet; thence
continuing South 37°42' West to the Southeasterly
most corner of the following described parcel;
the North 17.06 acres of the South ;-� of the
Northeast 1-4 of Section 7, Township 88 North,
Range 13 West located West of road, and except
that part of Timberline Patio Homes plat bounded
Ordinance No. 5249
Page 5
as follows: commencing at a point on the
centerline of West 4th Street which is 626.32
feet Southwest of the intersection of said
centerline with the East line of said Section 7,
thence North 89030' West 881.76 feet, thence
North 37021'30" East 837.49 feet, thence South
52038130" East 710 feet, thence Southwesterly
along the centerline of West 4th Street to the
point of beginning, and except Highway, and
except that part of the Northeast 1-4 of said
Section 7 described as follows: beginning at a
point on the West line of said Northeast �-4- which
is 1,218 feet South of the Northwest corner of
said Northeast '-4, thence North 78047'45" East
208.37 feet, thence South 3506115" West 352.10
feet to the West line of said Northeast 1-4, thence
Northwest to the point of beginning, and except
that part platted as Ekho Ridge Addition; thence
Northwesterly along the Southwesterly line of
said described parcel to its intersection with
the West line of the Northeast 1-4 of said Section
7; thence Southerly along the West line of the
Northeast ;�4 of said Section 7 to the center of
said Section 7; thence South 89046150" West 99.19
feet along the North line of the Southwest 1-4 of
said Section 7; thence South 665.54 feet to the
Westerly most corner of Lot 3 of Nottingham
Heights Addition; thence Westerly along the South
line of the North '-� of the North ',� of the
Southwest 1-4 of said Section 7 to the Northeast
corner of Lot C-1 of Southland Park Third
Addition; thence Southeasterly along the
Northeasterly line of said Lot C-1 to the
Easterly most corner of said Lot C-1; thence
southwesterly along the Southeasterly line of
said Lot C-1 and an extension of the
Southeasterly line of said Lot C-1 to the
centerline of Charm Drive; thence Northwesterly,
Westerly, and Southwesterly along the Centerline
of Charm Drive to its intersection with a point
on the Southwest line of Southland Park 4th
Addition; thence Northwesterly and Northeasterly
following the Southwesterly lines of Southland
Park 4th Addition to the Southerly most corner of
Lot C-8 of said addition; thence Northwesterly
along the Southwesterly line of said Lot C-8 to
the Westerly most corner of said Lot C-8; thence
Southwesterly along the Southeasterly right-of-
way line of U.S. Highway 63 to the Northerly most
corner of the following described parcel:
Unplatted Waterloo West, a part of the Southwest
1-4 of Section 7, Township 88 North, Range 13 West,
beginning at a point on the West line of said
Section 7 which is 1,066.45 feet North of the
Southwest corner of said Section 7, thence North
3602' East 44 feet, thence South 53058' East 500
feet, thence South 3602' West 344 feet, thence
Ordinance No. 5249
Page 6
North 53058' West 281.77 feet to the West line of
said Section 7, thence North 370.98 feet to the
point of beginning; thence Southeasterly along
the Northeasterly line of said described parcel
to the Easterly most corner of said described
parcel; thence Southwesterly along the
Southeasterly line of said described parcel to
the Southerly most corner of said described
parcel; thence South 53058' East a distance of
107.591; thence South 35016'20" West a distance
of 139.64'; thence Southwesterly in a straight
line to a point on the West line of said Section
7 that is 33 feet North of the Southwest corner
of said Section 7; thence South 33' to the
Southwest corner of said Section 7; thence
Westerly along the South line of Section 12 of
Township 88 North, Range 14 West to the
intersection of the South line of said Section 12
and a line 1,000' Northwesterly of and parallel
to the Northwesterly right-of-way line of the
Chicago Great Western Railroad (now abandoned);
thence Northeasterly 935 feet along said parallel
line; thence Southeasterly at a right angle 500
feet; thence Northeasterly at a right angle 878.6
feet; thence Northwesterly at a right angle to
the North line of the South '-� of the Southeast 1-4
of said Section 12; thence continuing
Northwesterly along the last bearing to the
intersection with a line 1,000' Northwesterly of
and parallel to the Northwesterly right-of-way
line of the Chicago Great Western Railroad (now
abandoned); thence Northeasterly along said
parallel line to its intersection with the
Northeasterly right-of-way line of the Cedar
Falls Branch Line of the C NW Transportation Co.
(now abandoned); thence Northwesterly along said
Northeasterly right-of-way line to its
intersection with the North line of the Northeast
1-14 of the Southeast 1-4 of Section 12, Township 88
North, Range 14 West; thence East along said
North line and the North line of the Northwest 1-4
of the Southwest 1-4 of Section 7, Township 88
North, Range 13 West to its intersection with the
Northwesterly right-of-way line of the Chicago
Great Western Railroad (now abandoned); thence
Northeasterly along said Northwesterly right-of-
way line to the centerline of Ranchero Road as
presently established; thence Northwesterly and
Westerly along said centerline of Ranchero Road
to the Southwest corner of Section 6, Township 88
North, Range 13 West; thence Northerly along the
West line of said Section 6 to the Northwest
corner of the Southwest fractional :W4 of the
Southwest fractional k of said Section 6; thence
North 89042154" East a distance of 818.14 feet;
thence South 06019151" West a distance of 32.15
feet; thence South 77034'36" East a distance of
Ordinance No. 5249
Page 7
835.86 feet; thence Easterly 637.85 feet along a
7,789.65 foot radius curve, concave Southerly,
having a chord bearing South 75°14'03 East
637.67 feet; thence South 72°26110" East 1005.02'
to the point of beginning.
(d) Amended Project Area
the City of Waterloo,
Original Project Area,
Amendment No. 2 Area,
includes the lots and
area legally described
shall mean that portion of
Iowa included within the
Amendment No. 1 Area, and
which Amended Project Area
parcels located within the
as follows:
Beginning at the point of intersection of
the centerline of U.S. Highway 63 (Sergeant Rd.)
and the North line of the Southeast 1-4 of the
Southwest 14 of Section 33, Township 89 North,
Range 13 West of the 5th P.M., thence East along
the North line of said Southeast 1-4 of the
Southwest 14 of said Section to the Southeasterly
right-of-way line of U.S. Highway 63 (Sergeant
Rd.), thence Southwesterly along said right-of-
way to its intersection with the West line of the
Southeast 14 of the Southwest '--4 of said Section,
thence South 89050'15" East a distance of
432.65', thence South 1"40'30" East to the South
line of said Section, thence West along said
South line to the point where it would intersect
the Northerly extension of the East line of Tract
A of Kingswood Second Addition to Waterloo,
thence South along the extension of the East line
of Tract A to the Northwest corner of Lot 15
Kingswood First Addition, said point also being a
point on the Easterly line of Lot 6 of South
Waterloo Commercial Park, thence Southeasterly
following the Easterly line of said Lot 6 to the
most Southeasterly corner of said lot, thence
Southwesterly and Westerly along the South line
of said lot to an angle point on the South line
of said Lot 6, which is also a point on the West
line of Section 5, Township 88 North, Range 13
West, thence South along the West line of said
Section to the North line of the Southeast 1-4 of
the Southeast 14 of Section 6, Township 88 North,
Range 13 West, thence West along the North line
of the Southeast �,4 of the Southeast 1-4 and the
North line of the Southwest 1-4 of the Southeast 1-4
to a point on the Northwesterly right-of-way line
of the Chicago Great Western Railroad (now
abandoned), thence South 35031130" West 850.21
feet along said line, thence North 72026'10" West
1005.02 feet, thence Westerly 637.85 feet along a
7,789.65 foot radius curve, concave Southerly,
having a chord bearing North 75014'03" West
637.67 feet, thence North 77'3436" West 835.86
feet, thence North 06°19'51" East 32.15 feet to
the South line of the Northwest 4-4 of the
Ordinance No. 5249
Page 8
Southwest 1-4 of said Section 6, thence East along
said line to the West line of the Northeast 4-4 of
the Southwest 1-4 of said Section, thence North
along the West line of the Northeast 1-4 of the
Southwest 1-4 to the North line of the Northeast
of the Southwest 1-4 of said Section, thence East
along said North line to a point on the East line
of the West 440 feet of the East one-half of the
Northwest fractional 14 said Section, thence North
along the East line of the West 440 feet of the
East one-half of the Northwest fractional 1-4 to
the North line of said Section 6, thence East
along the North line of said Section 6, which is
also the South line of Section 32, Township 89
North, Range 13 West, to the West line of the
East 475 feet of the Southwest 1-4 of the Southeast
of said Section 32, thence North 790 feet along
said West line, thence East 475 feet to the West
line of the Southeast 1-4 of the Southeast :4 of
said Section, thence North along the West line of
the Southeast 1-4 of the Southeast 1-4 to the
Southwest corner of the Northeast 1-4 of the
Southeast 1-4 said Section 32, thence Northeasterly
to a point that is 990 feet East of and 675 feet
North of the Southwest corner of the Northeast
of the Southeast 1-4 of said Section, thence
Northeasterly to a point on the East line of
Section 32 that is 420 feet South of the
Northeast corner of the Southeast 1-4 of said
Section, thence South along the East line of
Section 32 to its intersection with the Northerly
right-of-way line of Martin Road, thence
Northeasterly and Easterly along said right-of-
way, and an extension thereof, to the centerline
of U.S. Highway 63 (Sergeant Rd.), thence
Southerly along said centerline to the point of
beginning, all in the City of Waterloo, Black
Hawk County, Iowa;
And also:
Beginning at the intersection of the North
line of the Southeast 1-4 of the Southwest 1-4 of
Section 33, Township 89 North, Range 13 West and
the Southeasterly right-of-way line of U.S.
Highway 63 (Sergeant Road); thence Southwesterly
along said right-of-way to its intersection with
the West line of the Southeast 1-4 of the Southwest
of said Section 33; thence South 89050'15" East
a distance of 432.65'; thence South 1040130" East
to the South line of said Section; thence East
along said South line to the Southeast corner of
the Southeast 1-4 of the Southwest :�,4 of said
Section 33; thence North along the East line of
said Southeast 1-4 of the Southwest 1-4 of Section 33
to the Northeast corner of the said Southeast
of the Southwest 1-4 of Section 33; thence West
Ordinance No. 5249
Page 9
along the
Southwest
beginning;
North line of said Southeast '4 of the
1-4 of Section 33 to the point of
And also:
Beginning at a point on the Northwesterly
right-of-way line of the Chicago Great Western
Railroad (now abandoned) that is South 35°31'30"
West 850.21 feet from a point on said
Northwesterly right-of-way line that intersects
the North line of the Southwest -k of the
Southeast 1-4 of Section 6, Township 88, Range 13;
thence South to the centerline of U.S. Highway 20
as presently established; thence Southeasterly
along the centerline of U.S. Highway 20 as
presently established to its intersection with
the East line of Section 7, Township 88 North,
Range 13 West; thence Southerly along the East
line of said Section 7 to a point that is 745.6
feet South of the Northeast corner of said
Section 7; thence West 70.6 feet; thence South
419.6 feet; thence Southerly 265.5 feet along a
407.5' radius curve concave Westerly having a
chord bearing South 18040' West 260.8 feet;
thence South 37020' West 149.5 feet; thence North
52017.5' West 643.0 feet; thence South 37042'
West 450 feet; thence continuing South 37042'
West to the Southeasterly most corner of the
following described parcel; the North 17.06 acres
of the South � of the Northeast ka of Section 7,
Township 88 North, Range 13 West located West.of
road, and except that part of Timberline Patio
Homes plat bounded as follows: commencing at a
point on the centerline of West 4th Street which
is 626.32 feet Southwest of the intersection of
said centerline with the East line of said
Section 7, thence North 89030' West 881.76 feet,
thence North 37°21'30" East 837.49 feet, thence
South 52038130" East 710 feet, thence
Southwesterly along the centerline of West 4th
Street to the point of beginning, and except
Highway, and except that part of the Northeast 14
of said Section 7 described as follows: beginning
at a point on the West line of said Northeast k
which is 1,218 feet South of the Northwest corner
of said Northeast ka, thence North 78°47'45" East
208.37 feet, thence South 3506115" West 352.10
feet to the West line of said Northeast 1-4, thence
Northwest to the point of beginning, and except
that part platted as Ekho Ridge Addition; thence
Northwesterly along the Southwesterly line of
said described parcel to its intersection with
the West line of the Northeast -1-4 of said Section
7; thence Southerly along the West line of the
Northeast 1-4 of said Section 7 to the center of
said Section 7; thence South 89046150" West 99.19
Ordinance No. 5249
Page 10
feet along the North line of the Southwest 1-4 of
said Section 7; thence South 665.54 feet to the
Westerly most corner of Lot 3 of Nottingham
Heights Addition; thence Westerly along the South
line of the North '-� of the North '-� of the
Southwest 1-4 of said Section 7 to the Northeast
corner of Lot C-1 of Southland Park Third
Addition; thence Southeasterly along the
Northeasterly line of said Lot C-1 to the
Easterly most corner of said Lot C-1; thence
southwesterly along the Southeasterly line of
said Lot C-1 and an extension of the
Southeasterly line of said Lot C-1 to the
centerline of Charm Drive; thence Northwesterly,
Westerly, and Southwesterly along the Centerline
of Charm Drive to its intersection with a point
on the Southwest line of Southland Park 4th
Addition; thence Northwesterly and Northeasterly
following the Southwesterly lines of Southland
Park 4th Addition to the Southerly most corner of
Lot C-8 of said addition; thence Northwesterly
along the Southwesterly line of said Lot C-8 to
the Westerly most corner of said Lot C-8; thence
Southwesterly along the Southeasterly right-of-
way line of U.S. Highway 63 to the Northerly most
corner of the following described parcel:
Unplatted Waterloo West, a part of the Southwest
1, of Section 7, Township 88 North, Range 13 West,
beginning at a point on the West line of said
Section 7 which is 1,066.45 feet North of the
Southwest corner of said Section 7, thence North
3602' East 44 feet, thence South 53058' East 500
feet, thence South 3602' West 344 feet, thence
North 53058' West 281.77 feet to the West line of
said Section 7, thence North 370.98 feet to the
point of beginning; thence Southeasterly along
the Northeasterly line of said described parcel
to the Easterly most corner of said described
parcel; thence Southwesterly along the
Southeasterly line of said described parcel to
the Southerly most corner of said described
parcel; thence South 53°58' East a distance of
107.59'; thence South 35016120" West a distance
of 139.64'; thence Southwesterly in a straight
line to a point on the West line of said Section
7 that is 33 feet North of the Southwest corner
of said Section 7; thence South 33' to the
Southwest corner of said Section 7; thence
Westerly along the South line of Section 12 of
Township 88 North, Range 14 West to the
intersection of the South line of said Section 12
and a line 1,000' Northwesterly of and parallel
to the Northwesterly right-of-way line of the
Chicago Great Western Railroad (now abandoned);
thence Northeasterly 935 feet along said parallel
line; thence Southeasterly at a right angle 500
feet; thence Northeasterly at a right angle 878.6
Ordinance No. 5249
Page 11
feet; thence Northwesterly at a right angle to
the North line of the South '-i� of the Southeast 1-4
of said Section 12; thence continuing
Northwesterly along the last bearing to the
intersection with a line 1,000' Northwesterly of
and parallel to the Northwesterly right-of-way
line of the Chicago Great Western Railroad (now
abandoned); thence Northeasterly along said
parallel line to its intersection with the
Northeasterly right-of-way line of the Cedar
Falls Branch Line of the C NW Transportation Co.
(now abandoned); thence Northwesterly along said
Northeasterly right-of-way line to its
intersection with the North line of the Northeast
1-4 of the Southeast :�-4 of Section 12, Township 88
North, Range 14 West; thence East along said
North line and the North line of the Northwest '-4
of the Southwest 1-4 of Section 7, Township 88
North, Range 13 West to its intersection with the
Northwesterly right-of-way line of the Chicago
Great Western Railroad (now abandoned); thence
Northeasterly along said Northwesterly right-of-
way line to the centerline of Ranchero Road as
presently established; thence Northwesterly and
Westerly along said centerline of Ranchero Road
to the Southwest corner of Section 6, Township 88
North, Range 13 West; thence Northerly along the
West line of said Section 6 to the Northwest
corner of the Southwest fractional 1-4 of the
Southwest fractional 1-4 of said Section 6; thence
North 89042'54" East a distance of 818.14 feet;
thence South 06019'51" West a distance of 32.15
feet; thence South 77034'36" East a distance of
835.86 feet; thence Easterly 637.85 feet along a
7,789.65 foot radius curve, concave Southerly,
having a chord bearing South 75014'03" East
637.67 feet; thence South 72026'10" East 1005.02'
to the point of beginning.
Section 2: The taxes levied on the taxable property in the
Amended 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 Original 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 Original Project Area upon the total sum
of the assessed value of the taxable property in the Original
Project Area as shown on the assessment roll as of January 1,
1995, being the first day of the calendar year preceding the
effective date of Ordinance No. 4204, 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
Ordinance No. 5249
Page 12
other property taxes are paid. The taxes so determined shall be
referred herein as the "base period taxes" for such area.
As to the Amendment No. 1 Area, base period taxes shall be
computed in the same manner using the total assessed value shown
on the assessment roll as of January 1, 2003, being the
assessment roll applicable to property in such area as of
January 1 of the calendar year preceding the effective date of
Ordinance No. 4708.
As to the Amendment No. 2 Area, base period taxes shall be
computed in the same manner using the total assessed value shown
on the assessment roll as of January 1, 2013, being the
assessment roll applicable to property in such area as of
January 1 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 Amended Project Area,
determined for each sub -area 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 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 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 Project Area pursuant to the Urban
Renewal Plan, as amended, 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 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 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 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 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
Ordinance No. 5249
Page 13
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. 4204, as amended by Ordinance No. 4708 for the
addition of the Amendment No. 1 Area, and to fully implement the
provisions of Section 403.19 of the Code of Iowa with respect to
the division of taxes from property within the Amendment No. 2
Area, as described above. 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 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: September 22, 2014
PASSED lst CONSIDERATION: October 13, 2014
PASSED 2nd CONSIDERATION: October 20, 2014
PASSED 3rd CONSIDERATION: October 27, 2014
PASSED AND ADOPTED this 27th day of October, 2014.
ATTEST:
i
1
Suzy Sc lares, CMC
City Clerk
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. 5249 as passed and adopted by the City Council
of the City of Waterloo, Iowa, on the 27th day of October, 2014.
Witness my hand and seal of office this 27th day of October,
2014.
SEAL Suzy Schaes, CMC
City Cler