The URL can be used to link to this page

Home My WebLink About2014-1015-11/24/2014 Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2014-1015 RESOLUTION AUTHORIZING CERTIFICATION TO THE COUNTY AUDITOR THE CITY' S EXPENDITURES THAT QUALIFY FOR REIMBURSEMENT FROM THE TAX INCREMENT FUND IN THE SAN MARNAN TAX INCREMENT DISTRICT. 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 in the San Marnan Tax Increment District, as indicated in attached Exhibit "A" and Exhibit "B", be and the same are hereby approved. PASSED AND ADOPTED this 24th day of November, 2014 . AZZ:c1 Ernest G. Clark, Mayor ATTEST: Suzy Scha es, CMC City Cler EXHIBIT"A" June 30,2014 Pro'ect Desi nation:San Marnan Tax Increment Develo meat Area Schedule Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Date Of Issuance Source Description of Indebtedness Cumulative uAmountltie or Expenditure AMOUNT INCURRED Land Acquisition FY 1999 $548,856.00 Contract debt $548,856.00 Interest FY 02 $106,427.98 $655,283.98 Interest FY 03 $42,502.01 $697,785.99 Interest FY 04 $16,795.35 $714,581.34 Interest FY05 $11,094.86 $176,820.20 Interest FY 06 $12,570.24 $82,962.46 Interest FY 07 $12,303.70 $52,764.15 i Interest FY 08 $7,665.09 $758,215.23 Road FY 1999 Recording Fees FY 99 Principal $2,373.60 G.0.Bonds $760,588.83 Design&Construction Eng. Principal $15,419.70 G.O.Bonds $776,008.53 Construction of Rd&Sewer Principal $78,364.41 G.O.Bonds $854,372.94 Financing FY 98-00 Interest $64,919.28 G.0.Bonds $919,292.22 GMAC Tax Rebates Principal TIF Rebate 75%2003 $126,460.50 $1,045,752.72 60%2004 $121,497.60 $1,167,250.32 45%2005 $105,821.10 $1,273,071.42 30%2006 $72,557.49 $1,345,628.91 15%2007 $31,691.70 $1,377,320.61 VGM Tax Rebates Principal TIF Rebate , 50%2009 $50,788.00 $1,428,108.61 50%2010 $152,742.00 $1,580,850.61 50%2011 $102,094.00 $1,682,944.61 50%2012 $101,146.00 $1,784,090.61 50%2013 $111,138.00 $1,895,228.61 Principal TIF Rebate CV Medical HQ 50%2009 $117,232.07 $2,012,460.68 50%2010 $86,068.00 $2,098,528.68 50%2011 $86,186.00 $2,184,714.68 50%2012 $55,455.01 $2,240,169.69 50%20134 $0.00 $2,240,169.69 WW Grainger,Inc. $2,240,169.69 100%2012 $186,234.00 $2,426,403.69 100%2013 $193,342.00 $2,619,745.69 i00%2014 $180,624.00 $2,800,369.69 '100%2015" $171,580.00 $2,971,949.69 100%2016• $171,580.00 . $3,143,529.69 100%2017• $171.580.00 $3,315,109.69 49%2018• $84,074.00 • $3,399,183.69 Financial Resource Advisors Principal TIF Rebate $3,399,183.69 100%2012 $74,596.00 $3,473,779.69 100%2013 $72,824.00 $3,546,603.69 100%2014 $68,034.00 $3,614,637.69 100%2015• $65,090.00 $3,679,727.69 100%2016' $66,090.00 $3,745,817.69 100%2017• $66,090.00 $3,811,907.69 52%2018' $34,366.00 $3,846,273.69 Cardinal Medical Office Principal TIF Rebate 100%2013 $100,128.00 $3,946,401.69 100062014 $46,216.00 $3,992,617.69 100%2015• $44,480.00 $4,037,097.69 100%2016• $42,536.00 $4,079,633.69 EXHIBIT"A" June 30,2014 Project Designation:San Marnan Tax Increment Development Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) 100%2017' $42,536.00 $4,122,169.69 100%2018* $42,536.00 $4,164,705.69 80%2019* $34,028.00 $4,198,733.69 MBA]( Principal TIF Rebate 100%2014 $57,124.00 $4,255,857.69 100%2015" $54,500.00 $4,310,357.69 100%2016" $52,576.00 $4,362,933.69 100%2017' $52,576.00 $4,415,509.69 100%2018' $52,576.00 $4,468,085.69 100%2019* $52,576.00 $4,520,661.69 100%2020* $52,576.00 $4,573,237.69 36%2021' $18,928.00 $4,592,165.69 Cardinal Veterans Clinic Principal TIF Rebate 89%2014 $56,326.00 . $4,648,491.69 89%2015* $54,724.00 $4,703,215.69 89%2016* $51,840.00 $4,755,055.69 89%2017* $51,840.00 $4,806,895.69 89%2018* $51.840.00 $4,858,735.69 89%2019* $51,840.00 $4,910,575.69 89%2020' $51,840.00 $4,962,415.69 89%2021' $51,840.00 $5,014,255.69 89%2022' $51,840.00 $5,066,095.69 89%2023* $51,840.00 $5,117,935.69 MFGC,LLC Principal TIF Rebate 72%2016* $27,742.00 $5,145,677.69 71%2017* $28,344.00 $5,174,021.69 71%2018' $28,344.00 $5,202,365.69 71%2019' $28,344.00 $5,230,709.69 71%2020* $28,344.00 $5,259,053.69 71%2021' $28,344.00 $5,287,397.69 71%2022* $28,344.00 $5,315,741.69 71%2023' $28,344.00 $5,344,085.69 71%2024" $28,344.00 $5,372,429.69 71%2025* $28,344.00 $5,400,773.69 CBE Land Purchase Principal $740,000.00 2005 GO Bonds $6,140,773.69 Interest $245,900.00 2005 GO Bonds $6,386,673.69 VGM Access Road Principal $600,000.00 2005 GO Bonds $6,986,673.69 Interest $197,330.00 2005 GO Bonds $7,184,003.69 VGM Fund 406-FY2006 Principal $400,000.00 2006 GO Bonds $7,584,003.69 Interest $223,315.02 2006 GO Bonds $7,807,318.71 San Marnan Development Principal $100,000.00 2007 GO Bonds $7,907,318.71 Fund 407 FY2007 Interest $35,153.50 2007 GO Bonds $7,942,472.21 San Maman Development Principal $200,000.00 2008 GO Bonds $8,142,472.21 Fund 408 FY2008 Interest $59,000.00 2008 GO Bonds $8,201,472.21 San Marnan Development-Fund Principal ($280,000.00) 2006 GO Bonds $7,921,472.21 406 -Refund old Debt Interest ($76,862.50) 2006 GO Bonds $7,844,609.71 San Marnan Development-Fund Principal $280,000.00 2013 GO Bonds $8,124,609.71 413 -Refinance 406 Funds Interest $23,153.60 2013 GO Bonds $8,147,763.31 San Marnan Development-Fund Principal ($355,000.00) 2005 GO Bonds $7,792,763.31 405 -Refund old Debt Interest ($66,865.00) 2005 GO Bonds $7,725,898.31 San Maman Development-Fund Principal $355,000.00 2012 GO Bonds $8,080,898.31 412 -Refinance 406 Funds Interest $35,569.00 2012 GO Bonds $8,116,467.31 San Maman Development-Fund Principal ($445,000.00) 2005 GO Bonds $7,671,467.31 405 -Refund old Debt Interest ($84,160.00) 2005 GO Bonds $7,587,307.31 San Marnan Development-Fund Principal $445,000.00 2012 GO Bonds $8,032,307.31 412 -Refinance 406 Funds Interest $44,575.97 2012 GO Bonds $8,076,883.28 Tower Park Dr&Sewer-FY principal ($57,420.00) 2000 GO Bonds $8,019,463.28 2000 -Refund old Debt interest ($17,678.00) 2000 GO Bonds $8,001,785.28 Tower Park Dr&Sewer-Fund principal $57,420.00 2007 GO Bonds $8,059,205.28 • EXHIBIT"A" June 30,2014 Project Designation:San Marnan Tax Increment Development Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) 407 -Refinance FY 00 Funds interest $2,232.00 2007 GO Bonds $8,061,437.28 Fund 407-Reallocated from Principal $19,140.80 2007 GO Bonds $8,080,578.08 Logan Ave Interest $6,786.57 $8,087,364.65 Fund 407-Reallocated from Principal $48,071.35 2007 GO Bonds $8,135,436.00 Martin Rd Interest $17,044.18 $8,152,480.18 Fund 408-Reallocated from Principal $75,000.00 2008 GO Bonds $8,227,480.18 Logan Ave Interest $23,750.00 $8,251,230.18 Fund 408-Reallocated from Principal $80,000.00 2008 GO Bonds $8,331,230.18 Martin Rd Interest $25,000.00 $8,356,230.18 L&H Farms Advance $439,179.20 Advance $8,795,409.38 Dry Run Sewer Study(FY10) Advance $19.69 Advance $8,795,429.07 Dry Run Sewer Study(FY11) Advance $9,539.75 Advance $8,804,968.82 L&H Farms Advance $751,943.25 Advance $9,556,912.07 Env.Site Assessment Advance $5,999.28 Advance $9,562,911.35 FY12 GCVA Principal $16,167.00 Contract $9,579,078.35 FY13 GCVA Principal $24,000.00 Contract $9,603,078.35 FY14 GCVA Principal $16,166.66 Contract $9,619,245.01 FY13 L&H Farms Advance $334,109.50 Advance $9,953,354.51 FY14 L&H Farms Advance $857,909.51 Advance $10,811,264.02 *Estimated — EXIIIBIT "B" June 30,2014 Project Designation: San Martian Tax Increment hevelooment Area Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Year Received Amount Other Revenue Cumulative Amount Received from Received Payments under 1 FY 1997 $0.00 $0.00 2 FY 1998 $0.00 $0.00 3 FY 1999 $0.00 $0.00 4 FY 2000 $0.00 $0.00 5 FY 2001 $0.00 $0.00 6 FY 2002 $115,934.72 $115,934.72 7 FY2003 $146,872.14 $180,000.00 $442,806.86 8 FY 2004 $177,843.34 $620,650.20 9 FY 2005 $205,851.80 $826,502.00 10 FY2006 $214,330.06 $1,040,832.06 11 FY2007 $199,764.79 $6,118.47 $1,246,715.32 12 FY2008 $395,258.07 $10,724.47 $1,652,697.86 13 FY2009 $690,161.90 $1,252.06 $2,344,111.82 14 FY2010 $715,267.61 $943.98 $3,060,323.41 15 FY2011 $898,340.12 $353.67 $3,959,017.20 16 FY2012 $1,057,234.37 $995.06 $5,017,246.63 17 FY2013 $1,240,893.60 $345.77 $6,258,486.00 18 FY2014 $1,181,125.96 $1,402.62 $7,441,014.58 19 FY2015* _ $1,181,125.96 $8,622,140.54 *Estimated