HomeMy WebLinkAbout2014-1012-11/24/2014 E
Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2014-1012
RESOLUTION AUTHORIZING CERTIFICATION TO THE
COUNTY AUDITOR THE CITY' S EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT FROM THE TAX
INCREMENT FUND IN THE MIDPORT/AIRPORT 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
MidPort/Airport 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 .
/67A-6-d/
Ernest G. Clark, Mayor
ATTEST :
Suzy Sch res, CMC
City Clerk
EXHIBIT"A"
Cumulative as of June 30,2014
Project Designation: Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Date Of Issuance or Source Amount Description of Cumulative
Expenditure Indebtedness Amount
incurred
Site Development FY 1996 Principal $220,648.35 1996 GO Bonds $220,648.35
MidPort Blvd. FY 1996 Principal $170,748.90 1996 GO Bonds $391,397.25
Rail Improvements FY 1996 Principal $8,682.75 1996 GO Bonds $400,080.00
Interest $205,357.39 1996 GO Bonds $605,437.39
Loan-Cedar Falls BDC Principal $10,000.00 ADVANCE $615,437.39
Interest 97-00 $1,058.63 $616,496.02
Interest FY 01 $300.00 $616,796.02
Interest FY 02 $275.00 $617,071.02
Basic Materials(AADA)FY Principal $100,000.00 ADVANCE $717,071.02
1997 Interest 97-00 $10,561.65 $727,632.67
Interest FY 01 $3,000.00 $730,632.67
Interest FY 02 $3,000.00 $733,632.67
Interest FY 03 $3,180.82 $736,813.49
Interest FY04 $2,537.26 $739,350.75
Interest FY05 $2,400.00 $741,750.75
Interest FY06 $2,100.00 $743,850.75
Interest FY07 $1,800.00 $745,650.75
Interest FY08 $1,500.00 $747,150.75
Interest FY09 $1,200.00 $748,350.75
Interest FY10 $900.00 $749,250.75
Interest FY11 $600.00 $749,850.75
Interest FY12 $300.00 $750,150.75
MIDPORT BLVD.RISE PHASE 1 Principal $129,945.07 1997 GO Bonds $880,095.82
6/97
Rail Spur Improvements FY 97 Principal $116,629.00 1998 GO Bonds $996,724.82
Interest $119,366.30 1998 GO Bonds $1,116,091.12
Site Development FY 98 Principal $141,120.56 1998 GO Bonds $1,257,211.68
MidPort Blvd.FY 98 Principal $47,137.12 1998 GO Bonds $1,304,348.80
Rail Spur Improvements FY 98 Principal $77,449.07 1998 GO Bonds $1,381,797.87
Interest $123,689.79 1998 GO Bonds $1,505,487.66
Site Development FY 99 Principal $28,285.68 1999 G 0 Bonds $1,533,773.34
MidPort Blvd. FY 99 Principal $266,086.66 1999 G O Bonds $1,799,860.00
Sanitary Sewer FY 99 Principal $793,792.01 1999 G 0 Bonds $2,593,652.01
Interest $707,864.43 1999 G 0 Bonds $3,301,516.44
Site Development FY 00 Principal $106,524.92 $3,408,041.36
Interest $55,651.00 2000 GO Bonds $3,463,692.36
Sanitary Sewer FY 98-99 Principal $214,142.37 Advance $3,677,834.73
CB Richard Ellis Principal $210,000.00 Contract $3,887,834.73
Water Tap-WTT Principal $4,535.93 Advance $3,892,370.66
Water Tap-Adv.Heat Treat Principal $6,531.29 Advance $3,898,901.95
WTT Properties Tax Rebate TIF Rebate Agreement
100% 2001 $29,912.18 $3,928,814.13 .
100% 2002 $31,504.14 $3,960,318.27
100% 2003 $32,634.15 $3,992,952.42
Page 1 of 5
. EXHIBIT"A"
Cumulative as of June 30,2014
Project Designation: Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Clear Windows Rebate TIF Rebate Agreement
75%2004 $13,243.08 $4,006,195.50
60%2005 $0.00 $4,006,195.50
45% 2006 $14,526.00 $4,020,721.50
30% 2007 $8,715.58 $4,029,437.08
15% 2008 $2,346.00 $4,031,783.08
Advanced Heat Treat Rebate ill,Rebate Agreement
100%2002 $43,149.60 $4,074,932.68
100%2003 $44,697.34 $4,119,630.02
100% 2004 $46,099.04 $4,165,729.06
Fed Ex Tax Rebate TIF Rebate Agreement
50%2008 $24,433.25 $4,190,162.31
50%2009 $26,224.00 $4,216,386.31
50%2010 $25,916.00 $4,242,302.31
50%2011 $25,952.00 $4,268,254.31
50%2012 $25,712.00 $4,293,966.31
Criterion Tax Rebate TIF Rebate Agreement
50%2008 $3,119.76 $4,297,086.07
50%2009 $3,080.18 54,300,166.25
50%2010 $3,036.00 $4,303,202.25
50%2011 $3,040.00 $4,306,242.25
50%2012 $3,012.00 $4,309,254.25
Advanced Heat Treat Rebate II TIF Rebate Agreement
50%2010 $37,584.00 $4,346,838.25
50%2011 $37,636.00 $4,384,474.25
50%2012 $37,288.00 $4,421,762.25
50%2013 $36,412.00 $4,458,174.25
50%2014 $34,018.00 $4,492,192.25
50%2015* $31,840.00 $4,524,03125
50%2016* $19,662.00 $4,543,694.25
Ma•ee Pro.erties Rebate TIF Rebate Agreement
50%2009 $6,126.00 $4,549,820.25
50%2010 $6,054.00 $4,555,874.25
50%2011 $6,062.00 $4,561,936.25
50%2012 $6,006.00 $4,567,942.25
50%2013 $6,284.00 $4,574,226.25
Accurate Gear Rebate TIF Rebate Agreement
50%2012 $6,334.00 $4,580,560.25
50%2013 $10,888.00 $4,591,448.25
50%2014 $10,172.00 $4,601,620.25
50%2015* $9,106.00 $4,610,726.25
50%2016* $9,106.00 $4,619,832.25
ConA_• a Rebate TIF Rebate Agreement
90%2010 $440,056.00 $5,059,888.25
90%2011 $442,012.00 $5,501,900.25
90%2012 $437,912.00 $5,939,812.25
90%2013 $426,024.00 $6,365,836.25
90%2014 $397,998.00 $6,763,834.25
90%2015* $385,712.00 $7,149,546.25
90%2016* $386,712.00 $7,536,258.25
90%2017* $386,712.00 $7,922,970.25
80%2018* $343,744.00 $8,266,714.25
80%2019* $343,744.00 $8,610,458.25
70%2020* $300 776.00 $8,911,234.25
70%2021* $300,776.00 $9,212,010.25
70%2022* $300,776.00 $9,512,786.25
60%2023* $257,808.00 $9,770,594.25
60%2024* $257,808.00 $10,028,402.25
60%2025* $257,808.00 $10,286,210.25
50%2026* $214,840.00 $10,501,050.25
50%2027* $214,840.00 $10,715,890.25
50%2028* $214,840.00 $10,930,730.25
50%2029* $214,840.00 $11,145,570.25
Page 2 of 5
EXHIBIT"A"
Cumulative as of June 30,2014
Project Designation: Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Empire Enterprises TIF Rebate Agreement
50%2011 $7,390.00 $11,152,960.25
50%2012 $7,322.00 $11,160,282.25
50%2013 $7,064.00 $11,167,346.25
50%2014 $6,600.00 $11,173,946.25
50%2015* $5,156.00 $11,179,102.25
LaForge,LLC TIF Rebate Agreement
50%2013 $32,740.00 $11,211,842.25
50%2014 $30,586.00 $11,242,428.25
50%2015* $28,712.00 $11,271,140.25
50%2016* $28,140.00 $11,299,280.25
50%2017* $28,140.00 $11,327,420.25
50%2018* $28,140.00 $11,355,560.25
50%2019* $28,140.00 $11,383,700.25
50%2020* $28,140.00 $11,411,840.25
Schwickerath TIF Rebate Agreement
50%2013 $2,844.00 $11,414,684.25
50%2014 $2,658.00 $11,417,342.25
50%2015* $2,806.00 $11,420,148.25
50%2016* $2,806.00 $11,477,954.25
50%2017* $2,806.00 $11,425,760.25
Tournier Manufacturing TIP Rebate Agreement
58%2013 $21,120.00 $11,446,880.25_
60%2014 $20,410.00 $11,467,290.25
60%2015* $18,832.00 $11,486,122.25
Bob&Kaye Huff(IKE Holdings) TIF Rebate Agreement
50%2010 $0.00 $11,486,122.25
50%2011 $0.00 $11,486,122.25
50%2012 $7,854.00 $11,493,976.25
50%2013 $4,952.00 $11,498,928.25
50%2014 $4,626.00 $11,503,554.25
Anthony&Christopher Huff TIF Rebate Agreement
50%2012 $1,458.00 $11,505,012.25
50%2013 $3,512.00 $11,508,524.25
50%2014 $3,282.00 $11,511,806.25
50%2015* $3,412.00 $11,515,218.25
50%2016* $3,412.00 $11,518,630.25
Cedar Valley Warehouse,LLC TIF Rebate Agreement
50%2015* $19,918.00 $11,538,548.25
50%2016* $19,918.00 $11,558,466.25
50%2017* $19,918.00 $11,578,384.25
50%2018* $19,918.00 $11,598,302.25
50%2019* $19,918.00 $11,618,220.25
CPM Acquisition,Corp TIT Rebate Agreement
50%2014 $10,058.00 $11,628,278.25
50%2015* $7,210.00 $11,635,488.25
50%2016* $6,626.00 $11,642,114.25
50%2017* $6,626.00 $11,648,740.25
50%2018* $6,626.00 $11,655,366.25
Howard L Allen Investments i'iF Rebate Agreement
50%2015* $15,496.00 $11,670,862.25
50%2016* $15,596.00 $11,686,458.25
50%2017* $15,596.00 $11,702,054.25
50%2018* $15,596.00 $11,717,650.25
50%2019* $15,596.00 $11,733,246.25
M&R Iowa,LLC(Fed Ex) TIF Rebate Agreement $11,733,246.25
50%2016* $12,841.42 $11,746,087.67
50%2017* $12,841.42 $11,758,929.09
50%2018* $12,841.42 _$11,771,770.51
50%2019* $12,841.42 $11,784,611.93
50%2020* $12,841.42 $11,797,453.35
Hydrite Chemical Co. TIF Rebate Agreement $11,797,453.35
50%2016* $25,096.00 $11,822,549.35
50%2017* $25,096.00 $11,847,645.35
50%2018* $25,096.00 $11,872,741.35
Page 3 of 5
EXHIBIT"A"
Cumulative as of June 30,2014
Project Designation: Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
50%2019* $25,096.00 $11,897,837.35
50%2020" $25,096.00 $11,922,933.35
Cedar Valley Economic Principal $4,500.00 Contract $11,927,433.35
Development(Marketing)
Midport Sign Fund 412 Principal $51,825.00 412 GO Bonds $11,979,258.35
Interest $23,665.40 412 GO Bonds $12,002,923.75
Midport Sign Fund 411 Principal $11,069.00 411 GO Bonds $12,013,992.75
Interest $7,637.70 411 GO Bonds $12,021,630.45
Cedar Valley FY2004 $17,500.00 Contract $12,039,130.45
Principal
Fund 413 Taxable Principal $200,000.00 413 GO Bonds $12,239,130.45
Interest $76,609.00 $12,315,739.45
Fund 413 Taxable-Reallocate Principal ($102,488.00) 413 GO Bonds $12,213,251.45
out of Midport Interest ($38,889.00) $12,174,362.45
Fund 413 Tax Exempt Principal $100,000.00 413 GO Bonds $12,274,362.45
Interest $26,177.00 $12,300,539.45
Fund 413 Tax Exempt- Principal ($55,358.87) 413 GO Bonds $12,245,180.58
Reallocate out of Midport Interest ($14,490.00) $12,230,690.58
Fund 413 Tax Exempt- Principal ($41,466.93) 413 GO Bonds $12,189,223.65
Reallocate to Chamberlain Interest ($10,856.00) $12,178,367.65
Fund 414 Taxable-Reallocate Principal $1,000.00 414 GO Bonds $12,179,367.65
out of NE Ind Park Interest $488.00 $12,179,855.65
Greater Cedar Valley Alliance $17,500.00 Contract $12,197,355.65
FYE2005 Principal
Greater Cedar Valley Alliance $17,500.00 Contract $12,214,855.65
FYE2006 Principal
Greater Cedar Valley Alliance $17,500.00 $12,232,355.65
FYE2007 Principal Contract
Greater Cedar Valley Alliance $32,000.00 $12,264,355.65
FYE2008 Principal Contract
Greater Cedar Valley Alliance $32,000.00 $12,296,355.65
FYE2009 Principal Contract
Greater Cedar Valley Alliance $32,000.00 $12,328,355.65
FYE2010 Principal Contract
Greater Cedar Valley Alliance $9,500.00 $12,337,855.65
FYE2011 Principal Contract
Greater Cedar Valley Alliance $16,167.00 $12,354,022.65
FYE2012 principal Contract
Greater Cedar Valley Alliance $24,000.00 $12,378,022.65
FYE2013 Principal Contract
Greater Cedar Valley Alliance $16,166.67 $12,394,189.32
FYE2014 Principal Contract
1998 GO Bonds Refinanced- Principal ($153,991.00) 1998 GO Bonds $12,240,198.32
Deduct Old Debt Service Interest ($25,186.00) $12,215,012.32
1999 GO Bonds Refinanced- Principal ($482,216.00) 1999 GO Bonds $11,732,796.32
Deduct Old Debt Service Interest ($173,967.00) $11,558,829.32
1998 GO Bonds Refinanced- Principal $155,051.00 2007 GO Bonds $11,713,880.32
2007 Add New Debt Service Interest $22,397.00 $11,736,277.32
1999 GO Bonds Refinanced- Principal $485,540.00 2007 GO Bonds $12,221,817.32
2007 Add New Debt Service Interest $135,891.00 $12,357,708.32 _
2007 GO Bonds Refinanced- principal ($234,751.00) 2007 GO Bonds $12,122,957.32
Deduct Old Debt Service interest (527,858.00) $12,095,099.32
2007 GO Bonds Refinanced- principal $234,751.00 2014 GO Bonds $12,329,850.32
2014 Add New Debt Service interest $20,774.00 $12,350,624.32
Fund 409 Taxable Principal $155,000.00 2009 GO Bonds $12,505,624.32
Interest $37,543.26 $12,543,167.58
Welter Purchase Principal $349,018.34 Advance $12,892,185.92
WIDA Purchase Principal $14,367.18 Advance $12,906,553.10
LaForge Grant Principal $214,463.00 Advance $13,121,016.10
FAA Land Release Principal $111,618.00 Advance $13,232,634.10
2002 GO Bonds Refinanced- Principal ($36,825.00) 1999 GO Bonds $13,195,809.10
Page 4 of 5
EXHIBIT"A"
Cumulative as of June 30,2014
Project Designation: Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Deduct Old Debt Service Interest ($146,172.66) $13,049,636.44
2002 GO Bonds Refinanced- Principal $37,091.02 2010 GO Bonds $13,086,727.46
Add New Debt Service-Fund $75,805.14 $13,162,532.60
410
Interest
Standard Trucking Grant Principal $99,985.00 Advance $13,262,517.60
Cedar Valley Warehouse,LLC Principal $221,350.00 Advance $13,483,867.60
Grant
Andrew Lusson Grant Principal $56,575.50 Advance $13,540,443.10
CV Warehouse,LLC Grant II Principal $271,582.00 Advance $13,812,025.10
MMC Properties Grant Principal $73,868.00 Advance $13,885,893.10
MidPort Airport Land Release Principal $29,316.29 Advance $13,915,209.39
Geraldine Rd RISE Grant Principal $2,000.00 Advance $13,917,209.39
Application(INRCOG)
MidPort Blvd-Airline Hwy Principal $2,000.00 Advance $13,919,209.39
Appraisal
*Estimated
Page 5 of 5
EXHIBIT "B"
Cumulative as of June 30,2014
Project Designation:Airport Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Received Amount Received from Other Revenue Cumulative Amount
Payments under Sec. Received
402.12(2)
1 FY 1996 $0.00 $0.00
2 FY 1997 $0.00 $0.00
3 FY 1998 $0.00 $0.00
4 FY 1999 $0.00 $0.00
5 FY 2000 $199,485.92 $199,485.92
6 ' FY 2001 $173,980.54 $373,466.46
7 FY 2002 $215,717.04 $589,183.50
8 FY 2003 $226,422.30 $815,605.80
9 FY 2004 $238,607.04 $1,054,212.84
10 FY2005 $329,246.96 $1,383,459.80
11 FY2006 $272,132.01 $1,655,591.81
12 FY2007 $352,005.51 $53,241.43 $2,060,838.75
13 FY2008 $490,903.37 $22,100.85
$2,573,842.97
14 FY2009 $905,538.28 $24,935.40 $3,504,316.65
15 FY2010 $1,153,257.70 $31,855.29 54,689,429.64
16 FY2011 $1,217,346.57 $22,119.44 $5,928,895.65
17 FY2012 $1,286,480.54 $1,187.52 $7,216,563.71
18 FY2013 $1,452,505.80 $1,894.54 $8,670,964.05
19 FY2014 $1,467,347.00 $5,370.39 $10,143,681.44
20 FY2015* $1,467,347.00 $11,611,028.44
*ESTIMATED