HomeMy WebLinkAboutWaterloo_Rath_Area_Urban_Renewal_FYE2020CITY TIF FORM 1 - INDEBTEDNESS CERTIFICATION Cover Sheet
CODE OF IOWA SECTION 403.19 TAX INCREMENT FINANCING (TIF) INDEBTEDNESS
CERTIFICATION TO COUNTY AUDITOR
Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested
Use One Certification Per Urban Renewal Area
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
Urban Renewal Area Number: 07009 (Use five -digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above the
City has outstanding loans, advances, indebtedness, or bonds, none of which have been previously certified, in the
collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2
of Section 403.19 of the Code of Iowa.
Urban Renewal Area Indebtedness Not Previously Certified*:
$ 143,193
*There must be attached a supporting itemized listing of the dates that individual loans, advances, indebtedness, or
bonds were initially approved by the governing body. (Complete and attach 'CITY TIF FORM 1.1'.)
The County Auditor shall provide the available TIF increment tax in subsequent fiscal years without further certification
until the above -stated amount of indebtedness is paid to the City. However, for any fiscal year a City may elect to
receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or
before the preceding December 1. (File 'CITY TIF FORM 2' with the County Auditor by the preceding December 1
for each of those fiscal years where all of the TIF increment tax is not requested.)
A City reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from
the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year
of occurrence. (File 'CITY TIF 'FORM 3' with the County Auditor when TIF indebtedness has been reduced by any
reason other than application of TIF increment tax received from the County Treasurer.)
Notes/Additional Information:
Please note that we removed $705.05 in debt reductions and revenue adjustments using Form 3 that did not carry
to this form. Net debt outstanding at 6/30/2020 should be $2,256,851.07
Dated this 23 day of November 2020
G1./e,1-E;,1 H�.4
319.291.4323
Signature of Authorized Official Telephone
CITY TIF FORM 1.1 - To be attached to CITY TIF FORM 1 - INDEBTEDNESS CERTIFICATION
Page 1
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
County: Black Hawk
Urban Renewal Area Number: 07009
(Use five -digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details:
1. Purchase 325 W 13th St
O 'X' this box if a rebate agreement. List administrative details on lines above.
2. Salaries FY 20
O 'X' this box if a rebate agreement. List administrative details on lines above.
3. Crystal II Development Agreement: Rebates
4.
5.
Amendment
Rebates 10 Years @85%, 11th year @20%
Q'X' this box if a rebate agreement. List administrative details on lines above.
L 'X' this box if a rebate agreement. List administrative details on lines above.
E'X' this box if a rebate agreement. List administrative details on lines above.
If more indebtedness entry lines are needed continue to Form 1.1 Page 2.
Date Approved*:
11/4/2019
Total Amount:
102,012
6/22/2020 8,959
8/14/2017 32,222
Total For City TIF Form 1.1 Page 1: 143,193
* "Date Approved" is the date that the local governing body initially approved the TIF indebtedness.
CITY TIF FORM 3
TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
CERTIFICATION TO COUNTY AUDITOR
Use One Certification Per Urban Renewal Area
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
Urban Renewal Area Number: 07009 (Use five -digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above, the
City has reduced previously certified indebtedness, by reason other than application of TIF increment tax received
from the County Treasurer, by the total amount as shown below.
Provide sufficient detail so that the County Auditor will know how to specially administer your request. For example,
you could have multiple indebtedness certifications in the Urban Renewal Area, and the County Auditor would need
to know which particular indebtedness certifcation(s) to reduce. If rebate agreements are involved with a reduction,
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five -digit
county increment taxing district numbers for reference.
Individual TIF Indebtedness Type/Description/Details:
Interest Earned: $705.05
Amount
Reduced:
705
Total Reduction In Indebtedness For This Urban Renewal Area: 705
Dated this 23 day of
November 2020
G2 e HU�� 319.291.4323
Signature of Authorized Official Telephone
Exhibit "A"
Cumulative as of June 30, 2020
Project Designation: Rath Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
NO
DATE OF ISSUANCE OR
EXPENDITURE
SOURCE
DESCRIPTION OF
INDEBTEDNESS
CUMULATIVE
AMOUNT
AMOUNT
INCURRED
Rath Demolition 7/12/90
Principal
$475,000.00
G.O. Bonds
$475,000.00
Interest
$214,879.93
G.O. Bonds
$689,879.93
Powers Manufacturing Expansion 6/12/91
Principal
$150,000.00
G.O. Bonds
$839,879.93
Interest
$63,222.49
G.O. Bonds
$903,102.42
Powers Manufacturing Expansion 5/15/92
Principal
$150,000.00
G.O. Bonds
$1,053,102.42
Interest
$60,979.05
G.O. Bonds
$1,114,081.47
Powers Manufacturing 6/94
Principal
$300,000.00
G.O. Bonds
$1,414,081.47
Interest
$208,445.40
G.O. Bonds
$1,622,526.87
Powers Manufacturing Improvements 6/95
Principal
$50,000.00
G.O. Bonds
$1,672,526.87
Interest
$22,936.28
G.O. Bonds
$1,695,463.15
Administration Fees FY 97
Principal
$1,068.51
2000 GO Bonds
$1,696,531.66
Recording fees FY98
Principal
$1,200.00
2000 GO Bonds
$1,697,731.66
Demo Grant - Crystal
Interest on Advance 99-00
Principal
$100,000.00
99, 00 GO Bonds
$1,797,731.66
Principal
$11,178.22
2000 GO Bonds
$1,808,909.88
Land Improvements 3-00
Principal
$12,400.00
1998 GO Bonds
$1,821,309.88
Interest on $125,846.73
Interest
$74,646.27
98, 99, 00 GO Bonds
$1,895,956.15
Crystal Ice Rebate 75% 2002
Principal
$96,488.74
Tax Rebate
$1,992,444.89
60% 2003
$77,119.20
$2,069,564.09
45% 2004
$60,475.50
$2,130,039.59
30% 2005
$46,819.80
$2,176,859.39
15% 2006
$24,076.87
$2,200,936.26
Crystal II Fund 406
Principal
$450,000.00
2006 GO Bonds
$2,650,936.26
Interest
$252,561.30
2006 GO Bonds
$2,903,497.56
Crystal II Rebate 70% 2016
Principal
$16,716.00
Tax Rebate
$2,920,213.56
70% 2017
$15,606.00
$2,935,819.56
70% 2018
$13,943.00
$2,949,762.56
(expansion rebates start) 70% 2019
$15,110.00
$2,964,872.56
70% 2020
$15,522.00
$2,980,394.56
70% 2021*
$117,456.00
$3,097,850.56
70% 2022*
$120,076.00
$3,217,926.56
70% 2023*
$120,076.00
$3,338,002.56
70% 2024*
$120,076.00
$3,458,078.56
(end of Original rebate time) 70% 2025*
$120,076.00
$3,578,154.56
2026*
$120,076.00
$3,698,230.56
2027*
$120,076.00
$3,818,306.56
2028*
$120,076.00
$3,938,382.56
2029*
$120,076.00
$4,206,788.56
2030*
$120,076.00
$4,321,788.56
2031*
$28,254.00
$4,376,394.43
Rath Area Redevelopment
Fund 411 6/01
Principal
$115,000.00
2001 GO Bonds
$4,405,578.19
Interest
$54,605.87
2001 GO Bonds
$4,376,394.43
Rath Area Redevelopment
Fund 412
Principal
$29,183.76
2002 GO Bonds
$4,405,578.19
Interest
$10,890.01
2002 GO Bonds
$4,416,468.20
Rath Area Redevelopment
Fund 413
Principal
$121,885.41
2003 GO Bonds
$4,538,353.61
Interest
$29,182.00
2003 GO Bonds
$4,567,535.61
Rath Area Redevelopment Fund
413
Principal
$102,488.00
2003 GO Bonds
$4,670,023.61
Interest
$46,034.00
2003 GO Bonds
$4,716,057.61
Rath Area Redevelopment
Fund 414
Principal
$75,000.00
2004 GO Bonds
$4,791,057.61
Interest
$32,317.50
2004 GO Bonds
$4,823,375.11
Rath Area Redevelopment Fund
414 Taxable From NE Ind. Park
Principal
$61,994.76
2004 GO Bonds
$4,885,369.87
Interest
$30,268.97
2004 GO Bonds
$4,915,638.84
Exhibit "A"
Cumulative as of June 30, 2020
Project Designation: Rath Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
NO
DATE OF ISSUANCE OR
EXPENDITURE
SOURCE
DESCRIPTION OF
INDEBTEDNESS
CUMULATIVE
AMOUNT
AMOUNT
INCURRED
Rath Area Development Fund
414 From NE Ind. Park
Principal
$6,656.31
2004 GO Bonds
$4,922,295.15
Interest
$3,250.34
2004 GO Bonds
$4,925,545.49
1999 GO Bonds Refinanced - Deduct Old Debt
Service
Principal
($44,472.00)
1999 GO Bonds
$4,881,073.49
Interest
($16,043.00)
1999 GO Bonds
$4,865,030.49
1999 GO Bonds Refinanced - Add New Debt
Service - Fund 407
Principal
$44,784.00
2007 GO Bonds
$4,909,814.49
Interest
$12,532.00
2007 GO Bonds
$4,922,346.49
2000 GO Bonds Refinanced - Deduct Old Debt
Service
Principal
($50,413.73)
1999 GO Bonds
$4,871,932.76
Interest
($8,123.00)
1999 GO Bonds
$4,863,809.76
2000 GO Bonds Refinanced - Add New Debt
Service - Fund 407
Principal
$50,413.73
2007 GO Bonds
$4,914,223.49
Interest
$316.00
2007 GO Bonds
$4,914,539.49
Rath Area Redevelopment Fund
407 (taxable)
Principal
$150,000.00
2007 GO Bonds
$5,064,539.49
Interest
$52,301.50
2007 GO Bonds
$5,116,840.99
Rath Area Redevelopment Fund
408 (taxable)
Principal
$100,000.00
2008 GO Bonds
$5,216,840.99
Interest
$27,500.00
2008 GO Bonds
$5,244,340.99
Rath Area Redevelopment Fund
409 (taxable)
Principal
$50,000.00
2009 GO Bonds
$5,294,340.99
Interest
$11,665.81
2009 GO Bonds
$5,306,006.80
Asbestos Removal - Rath Admin Bldg
Principal
$125,008.37
Advance
$5,431,015.17
2001 GO Bond Original Interest - Ref
Interest
($11,023.87)
2001 GO Bonds
$5,419,991.30
2009 GO Bonds - 2001 GO Bonds Ref
Interest
$7,472.88
2009 GO Bonds
$5,427,464.18
Asbestos Removal - Rath Admin Bldg
Principal
$122,943.56
Advance
$5,550,407.74
Secor Economic Dev Grant
Principal
$104,400.00
Advance
$5,654,807.74
Loan Document Preparation
Principal
$9,764.34
Advance
$5,664,572.08
CMC Site Purchase
Principal
$155,019.00
Advance
$5,819,591.08
Rath Area Redevelopment Fund
410 (taxable)
Principal
$350,000.00
2010 GO Bonds
$6,169,591.08
Interest
$67,122.08
2010 GO Bonds
$6,236,713.16
Rath Area Redevelopment Fund
410 (taxable)
Principal
$144,000.00
2010 GO Bonds
$6,380,713.16
Interest
$27,764.69
2010 GO Bonds
$6,408,477.85
Rath Public Works Building - Fund 410
(exempt)
Principal
$700,000.00
2010 GO Bonds
$7,108,477.85
Interest
$93,209.08
2010 GO Bonds
$7,201,686.93
2002 GO Bonds Refinanced - Deduct Old Debt
Service
Principal
($15,183.76)
2002 GO Bonds
$7,186,503.17
Interest
($2,797.01)
2002 GO Bonds
$7,183,706.16
2002 GO Bonds Refinanced - Add New Debt
Service - Fund 410
Principal
$15,390.68
2010 GO Bonds
$7,199,096.84
Interest
$1,450.53
2010 GO Bonds
$7,200,547.37
625 Glenwood Acquisition
Principal
$355.00
Advance
$7,200,902.37
BCRLF Loan Repayment - CMC Clean-up
Principal
$280,000.00
Advance
$7,480,902.37
Secor RR Spur FY11
Principal
$99,111.32
Advance
$7,580,013.69
123 Stanley Acquisition FY11
Principal
$359,459.00
Advance
$7,939,472.69
Secor RR Spur FY12
Principal
$94,776.85
Advance
$8,034,249.54
123 Stanley Acquisition FY12
Principal
$100,000.00
Advance
$8,134,249.54
1823 Black Hawk St Acquisition FY12
Principal
$12,237.92
Advance
$8,146,487.46
Secor RR Spur FY13
Principal
$17,999.81
Advance
$8,164,487.27
Secor RR Spur FY14
Principal
$17,540.73
Advance
$8,182,028.00
2004 GO Bonds Refinanced (Fund 414) - Deduct
Old Debt Service
Principal
($40,000.00)
2002 GO Bonds
$8,142,028.00
Interest
($10,355.00)
2002 GO Bonds
$8,131,673.00
2004 GO Bonds Refinanced (Fund 414) - Add New
Debt Service - Fund 411
Principal
$40,000.00
2010 GO Bonds
$8,171,673.00
Interest
$5,560.56
2010 GO Bonds
$8,177,233.56
2006 GO Bonds Refinanced (Fund 406) - Deduct
Principal
($315,000.00)
2006 GO Bonds
$7,862,233.56
Exhibit "A"
Cumulative as of June 30, 2020
Project Designation: Rath Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
NO
DATE OF ISSUANCE OR
EXPENDITURE
SOURCE
DESCRIPTION OF
INDEBTEDNESS
CUMULATIVE
AMOUNT
AMOUNT
INCURRED
Old Debt Service
Interest
($87,547.52)
2006 GO Bonds
$7,774,686.04
2006 GO Bonds Refinanced (Fund 406) - Add New
Debt Service - Fund 413 (FY13)
Principal
$315,000.00
2013 GO Bonds
$8,089,686.04
Interest
$26,047.80
2013 GO Bonds
$8,115,733.84
2003 GO Bonds Refinanced (Fund 413) - Deduct
Old Debt Service
Principal
($54,851.41)
2006 GO Bonds
$8,060,882.43
Interest
($5,749.00)
2006 GO Bonds
$8,055,133.43
2003 GO Bonds Refinanced (Fund 413) - Add New
Debt Service - Fund 412 (FY12)
Principal
$54,851.41
2013 GO Bonds
$8,109,984.84
Interest
$1,538.19
2013 GO Bonds
$8,111,523.03
2007 GO Bonds Refinanced (Fund 407) - Deduct
Old Debt Service
Principal
($21,652.00)
2007 GO Bonds
$8,089,871.03
Interest
($2,569.00)
2007 GO Bonds
$8,087,302.03
2007 GO Bonds Refinanced (Fund 407) - Add New
Debt Service - Fund 414 (FY14)
Principal
$21,652.00
2014 GO Bonds
$8,108,954.03
Interest
$1,916.00
2014 GO Bonds
$8,110,870.03
Rath Area Redevelopment Fund
413 (taxable)
Principal
$370,000.00
2013 GO Bonds
$8,480,870.03
Interest
$49,279.11
2013 GO Bonds
$8,530,149.14
Rath Area Redevelopment Fund
414 (taxable)
Principal
$85,000.00
2014 GO Bonds
$8,615,149.14
Interest
$13,051.18
2014 GO Bonds
$8,628,200.32
Rath Area Redevelopment
Fund 415 (Taxable)
Principal
$225,000.00
2015 GO Bonds
$8,853,200.32
Interest
$35,100.14
2015 GO Bonds
$8,888,300.46
Rath Area Redevelopment Fund 415
(transfer to Martin 2016)
Principal
($220,000.00)
2016 GO Bonds
$8,668,300.46
Interest
($34,999.39)
2016 GO Bonds
$8,633,301.07
Rath Area Fund 416
Principal
$240,000.00
2016 GO Bonds
$8,873,301.07
Interest
$26,507.64
2016 GO Bones
$8,899,808.71
Rath Fund 417- GO Bonds 2017
Principal
$397,000.00
2017 GO Bonds
$9,296,808.71
Interest
$96,947.68
2017 GO Bonds
$9,393,756.39
Rath Taxable GO Bond - Series 2019B
Principal
$105,000.00
2019 GO Bonds
$9,498,756.39
Interest
$16,326.83
2019 GO Bonds
$9,515,083.22
Administration Expenses FY15
Principal
$2,838.32
Advance
$9,517,921.54
Administration Expenses FY16
Principal
$2,000.00
Advance
$9,519,921.54
Administration Expenses FY17
Principal
$3,274.24
Advance
$9,523,195.78
Administrative Expenses FY18
Principal
$94.00
Advance
$9,523,289.78
Salaries FY18
Principal
$6,219.62
Advance
$9,529,509.40
Crystal ED Grant FY18
Principal
$100,000.00
Advance
$9,629,509.40
1430 Commercial Acq FY19
Principal
$30,000.00
Advance
$9,659,509.40
Administrative Expenses FY19
Principal
$966.00
Advance
$9,660,475.40
Salaries FY19
Principal
$11,046.50
Advance
$9,671,521.90
325 W 13th St Acq FY20
Principal
$102,012.00
Advance
$9,773,533.90
Salaries FY20
Principal
$8,959.00
Advance
$9,782,492.90
$9,782,492.90
$9,782,492.90
$9,782,492.90
$9,782,492.90
$9,782,492.90
$9,782,492.90