HomeMy WebLinkAbout2014-1011-11/24/2014 Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2014-1011
RESOLUTION AUTHORIZING CERTIFICATION TO THE
iI COUNTY AUDITOR THE CITY' S EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT FROM THE TAX
INCREMENT FUND IN THE MARTIN ROAD 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
Martin Road 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 .
4/ '7
Ernest G. Clark, Mayor
ATTEST:
Suzy Sch res, CMC
City Clerk
Exhibit"A
Cumulative as of June 30,2014
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
DATE OF DESCRIPTION OF Cumulative
NO. ISSUANCE OR SOURCE INDEBTNESS Amount
EXPENDITURE
AMOUNT INCURRED
Recording Fees FY 1998-1999 Principal $464.50 1999 GO Bonds $464.50
Design&Construction
Engineering FY 1997-2001 Principal $20,328.07 1999 GO Bonds $20,792.57
FY 1999-2001 Principal $165,433.36 1999 GO Bonds $186,225.93
Construction of Road&
SewerFinancing FY 1998-2000 Interest $148,169.07 1999 GO Bonds $334,395.00
Brock Inc.Property 5 18 2004 Principal $385,000.00
Contract Contract $719,395.00
Interest $55,598.78 $774,993.78
Denso Project Expenses FY 2004 Principal $51,218.16 2002 GO Bonds $826,211.94
-Fund 412 Interest $20,299.47 2002 GO Bonds $846,511.41
Martin Road FY2006 Principal $100,000.00 2006 GO Bonds $946,511.41
Development-Fund 406 Interest $57,473.78 $1,003,985.19
Denso Tax Rebates Principal TIF Rebate $1,003,985.19
30%2007 $14,055.53 $1,018,040.72
30%2008 $17,072.82 $1,035,113.54
30%2009 $18,329.83 $1,053,443.37
30%2010 $18,115.17 $1,071,558.54
30%2011 $18,140.07 $1,089,698.61
Wilbert Vault Rebates Principal TIF Rebate
90%2008 $25,367.50 $1,115,066.11
90%2009 $25,045.82 $1,140,111.93
90%2010 $24,686.00 $1,164,797.93
90%2011 $24,720.00 $1,189,517.93
90%2012 $24,490.00 $1,214,007.93
90%2013 $22,604.00 $1,236,611.93
90%2014 $21,116.00 $1,257,727.93
90%2015* $19,390.00 $1,277,117.93
90%2016* $20,390.00 $1,297,507.93
90%2017* $9,778.44 $1,307,286.37
Rain Soft Rebates TIF Rebate $1,307,286.37
100% 2009 $12,844.23 $1,320,130.60
100% 2010 $12,698.00 $1,332,828.60
Principal
100% 2011 $12,716.00 $1,345,544.60
100% 2012 $12,598.00 $1,358,142.60
100% 2013 $13,124.00 $1,371,266.60
Young Development TIF Rebate
(Country Estates) $1,371,266.60
100% 2010 $16,100.00 $1,387,366.60
100% 2011 $16,122.00 $1,403,488.60
100% 2012 $15,972.00 $1,419,460.60
100% 2013 Principal $15,216.00 $1,434,676.60
100% 2014 $14,216.00 $1,448,892.60
100% 2015* $12,756.00 $1,461,648.60
100% 2016* $13,756:00 $1,475,404.60
100% 2017* $13,756.00 $1,489,160.60
100% 2018* $5,276.36 $1,494,436.96
Exhibit"A
Cumulative as of June 30,2014
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Stephen Riley TIF Rebate $1,494,436.96
100% 2010 $19,498.00 $1,513,934.96
100% 2011 $19,548.00 $1,533,482.96
100% 2012 Principal $19,368.00 $1,552,850.96
100% 2013 $16,028.00 $1,568,878.96
100% 2014 $14,972.00 $1,583,850.96
100% 2015* $13,996.00 $1,597,846.96
Maurer TIF Rebate $1,597,846.96
100% 2011 $56,178.00 $1,654,024.96
100% 2012 $55,656.00 $1,709,680.96
Principal
100% 2013 $65,472.00 $1,775,152.96
100% 2014 $61,164.00 $1,836,316.96
100% 2015* $58,426.00 $1,894,742.96_
JARF(Fahr Beverage) TIF Rebate $1,894,742.96
100% 2011 $22,268.00 $1,917,010.96
100% 2012 $22,062.00 $1,939,072.96
100% 2013 Principal $20,642.00 $1,959,714.96
100% 2014 $19,284.00 $1,978,998.96
100% 2015* $15,156.00 $1,994,154.96
100% 2016* $19,658.00 $2,013,812.96
Watessa TIF Rebate $2,013,812.96
100% 2012 $41,396.00 $2,055,208.96
100% 2013 $48,422.00 $2,103,630.96
100% 2014 $45,238.00 $2,148,868.96
100% 2015* $42,952.00 $2,191,820.96
68% 2016* Principal $29,888.00 $2,221,708.96
50% 2017* $21,976.00 $2,243,684.96
50% 2018* $21,976.00 $2,265,660.96
50% 2019* $21,976.00 $2,287,636.96
50% 2020* $21,976.00 $2,309,612.96
50% 2021* $21,976.00 $2,331,588.96
Deer Creek $2,331,588.96
2011 $300,000.00 $2,631,588.96
2012 $200,000.00 $2,831,588.96
2013 $200,000.00 $3,031,588.96
2014 $200,000.00 $3,231,588.96
2015 $200,000.00 $3,431,588.96
2016 $200,000.00 $3,631,588.96
2017 $200,000.00 $3,831,588.96
2018 Principal $200,000.00 $4,031,588.96
2019 $200,000.00 $4,231,588.96
2020 $200,000.00 $4,431,588.96
2021 $200,000.00 $4,631,588.96
2022 $200,000.00 $4,831,588.96
2023 $200,000.00 $5,031,588.96
2024 $200,000.00 $5,231,588.96
2025 $200,000.00 $5,431,588.96
2026 $142,969.94 $5,574,558.90
Corstang Enterprises $5,574,558.90
2013 $38,063.00 $5,612,621.90
2014 Principal $18,130.00 $5,630,751.90
2015 $0.00 $5,630,751.90
2016 $0.00 $5,630,751.90
PTL Properties,LLC I IF Rebate $5,630,751.90
100% 2013 $26,946.00 $5,657,697.90
Exhibit"A
Cumulative as of June 30,2014
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(21
100% 2014 $23,534.00 $5,681,231.90
100% 2015* $21,864.00 $5,703,095.90
100% 2016* $22,864.00 $5,725,959.90
22% 2017* Principal $5,030.00 $5,730,989.90
50% 2018* $11,432.00 $5,742,421.90
50% 2019* $11,432.00 $5,753,853.90
50% 2020* $11,432.00 $5,765,285.90
50% 2021* $11,432.00 $5,776,717.90
50% 2022* $11,432.00 $5,788,149.90
SVW Properties,LLC TIF Rebate $5,788,149.90
100% 2013 $27,170.00 $5,815,319.90
100% 2014 $24,396.00 $5,839,715.90
100% 2015* $22,704.00 $5,862,419.90
100% 2016* $23,704.00 $5,886,123.90
22% 2017* Principal $5,214.00 $5,891,337.90
50% 2018* $11,852.00 $5,903,189.90
50% 2019* $11,852.00 $5,915,041.90
50% 2020* $11,852.00 $5,926,893.90
50% 2021* $11,852.00 $5,938,745.90
50% 2022* $11,852.00 $5,950,597.90
1999 GO Bonds Refinanced-Deduct Old Debt Principal
Service P -$82,507.00 1999 GO Bonds $5,868,090.90
Interest -$29,395.00 $5,838,695.90
1999 GO Bonds Refinanced-Add New Debt principal
Service-Fund 407 P $82,971.00 2007 GO Bonds $5,921,666.90
Interest $23,222.00 $5,944,888.90
Martin Road Dev. FY2007 Principal $50,000.00 2007 GO Bonds $5,994,888.90
(taxable) Interest $17,728.00 $6,012,616.90
Martin Road Dev. FY 2008 Principal $80,000.00 $6 092 616.90
2008 GO Bonds
(taxable) Interest $25,000.00 $6,117,616.90
Corstang Purchase FY2009 Principal $196,020.00 Advance $6,313,636.90
San Sewer Design FY2010 Principal $558.00 Advance $6,314,194.90
San Sewer Design FY2011 Principal $425.50 Advance $6,314,620.40
2002 GO Bonds Refinanced-Deduct Old Debt principal ($29,403.28)
) 2002 GO Bonds $6,285,217.12
Interest ($5,907.08) $6,279,310.04
2002 GO Bonds Refinanced-Add New Debt principal
Service-Fund 410 $29,639.76 2010 GO Bonds $6,308,949.80
Interest $3,063.42 $6,312,013.22
2006 GO Bonds Refinanced-Deduct Old Debt pupal ($75,000.00) $6,237,013.22
Service 2006 GO Bonds
Interest ($20,421.26) $6,216,591.96
2006 GO Bonds Refinanced-Add New Debt Principal $75,000.00
Service-Fund 413(FY13) 2013 GO Bonds $6,291,591.96
Interest $5,788.40 $6,297,380.36
Reallocate Fund 407 G.O.Bonds to San Principal ($48,071.35) $6,249,309.01
Marnan 2007 G.O.Bonds
Interest ($17,044.18) $6,232,264.83
Reallocate Fund 408 G.O.Bonds to San Principal ($80,000.00) $6,152,264.83
Maman Interest 2008 G.O.Bonds
($25,000.00) $6,127,264.83
2007 GO Bonds Refunded-Deduct Old Debt principal ($40,115.00)
) 2007 G.O.Bonds $6,087,149.83
Interest ($4,761.00) $6,082,388.83
2007 GO Bonds Refinanced-Add New Debt Princi
Service(Fund 414) P $$3,115.00 2014 G.O.Bonds $6,122,503.83
Interest $3,550.00 $6,126,053.83
Martin Road Dev. FY 2011 Principal $100,000.00 $6,226,053.83
2011 GO Bonds
(taxable) Interest $37,730.31 $6,263,784.14
Development Serv. FY2011 Principal $1,200.00 Advance $6,264,984.14
Failor-Hurley Grant FY2011 Principal $80,000.00 Advance $6,344,984.14
Failor-Hurley Grant FY2012 Principal $17.00 • Advance $6,345,001.14
Deer Creek Dev. FY2013 Principal $80,000.00 Grant $6,425,001.14
San Sewer Design FY2012 Principal $1,505.00 Advance $6,426,506.14
*estimated
EXHIBIT "B"
Cumulative as of June 30,2014
Project Designation: Martin Road Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received
from Payments
under Sec. Other Revenue
No. Year Rece 402.12(2) Received Cumulative Amount
1 FY 1997 $0.00 $0.00
2 FY 1998 $0.00 $0.00
3 FY 1999 $3,573.58 $3,573.58
4 FY 2000 $7,314.98 $10,888.56
5 FY 2001 $76,616.52 $87,505.08
6 FY 2002 $60,214.96 $147,720.04
7 FY 2003 $67,780.85 $215,500.89
8 FY 2004 $74,966.48 $290,467.37
9 FY2005 $123,495.49 $413,962.86
10 FY2006 $150,499.75 $564,462.61
11 FY2007 $171,278.42 $101,903.67 $837,644.70
12 FY2008 $204,129.43 $18,939.01 $1,060,713.14
13 FY2009 $255,746.77 $5,108.00 $1,321,567.91
14 FY2010 $249,984.54 $460.98 $1,572,013.43
15 FY2011 $394,612.49 $888.50 $1,967,514.42
16 FY2012 $474,303.10 $32.15 $2,441,849.67
17 FY2013 $564,599.22 $74.41 $3,006,523.30
18 FY2014 $522,759.56 $188.85 $3,529,471.71
19 FY2015* $522,759.56 $4,052,231.27
*- Estimated
Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2014-1010
RESOLUTION AUTHORIZING CERTIFICATION TO THE
COUNTY AUDITOR THE CITY' S EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT FROM THE TAX
INCREMENT FUND IN THE LOGAN AVENUE 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
Logan Avenue Tax Increment District, as indicated in attached
Exhibit "A", be and the same is hereby approved.
PASSED AND ADOPTED this 24th day of November, 2014 .
�
rnest G. Clark, Mayor
ATTEST:
Suzy Scares, CMC
City Cl rk
Exhibit"A
June 30,2014
Project Designation: Logan Avenue Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
DATE OF
NO. ISSUANCE OR SOURCE DESCRIPTION OF INDEBTNESS Cumulative
EXPENDITURE Amount
AMOUNT INCURRED
Land Acquisition 6/1/2004 Principal $522,545.25 $522,545.25
Contract
Interest
$122,634.80 $645,180.05
Misc. Improvements FY2002 Bonds Principal $19,598.08 $664,778.13
2002 GO Bonds
Interest $6,945.64
$671,723.77
Hy Vee Lease FY2005 Principal $90,000.00 $761,723.77
2005 GO Bonds
Interest $31,320.00 $793,043.77
Hy Vee Lease & Misc Fund 406 taxable Principal $50,000.00 $843,043.77
Improvements Interest 2006 GO Bonds
$25,656.82 $868,700.59
Logan TIF Improvements Fund 414 taxable Principal $40,000.00 $908,700.59
2004 GO Bonds
Interest $17,236.02 $925,936.61
Logan TIF Improvements Fund 407 taxable Principal $50,000.00 $975,936.61
Interest 2007 GO Bonds
$17,728.00_ $993,664.61
Logan TIF Improvements Fund 408 taxable Principal $75,000.00 $1,068,664.61
Interest $23,750.00 2008 GO Bonds
$1,092,414.61
Logan TIF Improvements Fund 410 taxable Principal $100,000.00 $1,192,414.61
Interest $18,155.28 2010 GO Bonds
$1,210,569.89
Logan TIF Improvements Fund 414 taxable Principal $430,000.00 $1,640,569.89
Interest $60,696.39 2014 GO Bonds
$1,701,266.28
2002 GO Bonds Refinanced - Deduct Old Principal ($13,762.14) $1,687,504.14
2002 GO Bonds
Debt Service Interest
($3,173.13) $1,684,331.01
2002 GO Bonds Refinanced -Add New Debt Principal $14,028.16 $1,698,359.17
Service- Fund 410 2010 GO Bonds
Interest $1,645.58 $1,700,004.75
2004 GO Bonds Refinanced (Fund 414) - Principal ($21,333.31) $1,678,671.44
Deduct Old Debt Service Interest —2004 GO Bonds
($5,522.67) $1,673,148.77
2004 GO Bonds Refinanced (Fund 414) - Principal $21,333.31 $1,694,482.08
Add New Debt Service- Fund 411 2011 GO Bonds
Interest $2,253.28 $1,696,735.36
2006 GO Bonds Refinanced (Fund 406) - Principal ($30,750.00) $1,665,985.36
Deduct Old Debt Service Interest 2006 GO Bonds
($7,947.0 ) $1,658,038.30
2006 GO Bonds Refinanced (Fund 406) - Principal $30,750.00 $1,688,788.30
Add New Debt Service- Fund 413 (2013) 2013 GO Bonds
Interest $2,894.20_ $1,691,682.50
2008 GO Bonds Reallocated to San Marnan - Principal ($75,000.00) ^^^ $1,616,682.50
FY11 LUDO norms
($23,750.00) $1,592,932.50
2007 GO Bonds Reallocated to San Marnan - Principal ($19,140.80) $1,573,791.70
FY1 i Interest 2008 GO Bonds
($6,786.56) $1,567,005.14
2005 GO Bonds Refinanced (Fund 405) - Principal ($55,000.00) $1,512,005.14
Deduct Old Debt Service 2005 GO Bonds
Interest ($11,520.00) $1,500,485.14
2005 GO Bonds Refinanced (Fund 405) - Principal $55,000.00 $1,555,485.14
Add New Debt Service - Fund 412 (2012) 2013 GO Bonds
Interest $5,424.01 $1,560,909.15
Logan Plaza Retail Building 100%2012 Principal $0.00 Rebate $1,560,909.15
100%2013 $0.00 $1,560,909.15
100%2014 $0.00 $1,560,909.15
100%2015* $37,584.00
$1,598,493.15
100%2016*
$37,584.00 $1,636,077.15
100%2017* $37,584.00 $1,673,661.15
Walgreen's 100%2012 Principal $52,934.00 Rebate $1,726,595.15
100%2013 $70,346.00 $1,796,941.15
100%2014 $25,693.00 $1,822,634.15
100%2015* $74,373.00 $1,897,007.15
100%2016* $48,680.00 $1,945,687.15
100%2017* $48,680.00 $1,994,367.15
Avita 100%2012 Principal $89,982.00 Rebate $2,084,349.15
100%2013 $87,806.00 $2,172,155.15
74%2014 $60,702.00 $2,232,857.15
50%2015* $43,498.00 $2,276,355.15
50%2016* $41,126.00 $2,317,481.15
50%2017* $41,126.00 $2,358,607.15
50%2018* $41,126.00 $2,399,733.15
50%2019* $41,126.00 $2,440,859.15
D&L 100%2012* Principal Rebate $2,440,859.15
100%2013* $2,440,859.15
100%2014* $2,440,859.15
100%2015* $2,440,859.15
100%2016*
$2,440,859.15
CVS Pharmacy 100%2015* Principal $45,058.00 Rebate $2,485,917.15
100%2016* $45,058.00 $2,530,975.15
100%2017* $45,058.00 $2,576,033.15
100%2018* $45,058.00 $2,621,091.15
100%2019* $45,058.00 $2,666,149.15
100%2020* $45,058.00 $2,711,207.15
CVS Principal $610.10 Advance $2,711,817.25
Government Relations Contract FY12 Principal $8,000.00 Advance $2,719,817.25
Government Relations Contract FY13 Principal $28,000.00 Advance $2,747,817.25
Government Relations Contract FY14 Principal $20,000.00 Advance $2,767,817.25
E 2nd St&Walnut St Appraisal Principal $1,200.00 Advance $2,769,017.25
619 Franklin St Appraisal Principal $2,000.00 Advance $2,771,017.25
222 Walnut St Appraisal Principal $2,000.00 Advance $2,773,017.25
401-409 Franklin St Acquisition Principal $32,172.50 Advance $2,805,189.75
•
Exhibit"B
June 30,2014
Project Designation: Logan Avenue Tax Increment Redevelopment Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Received Received Other Revenue Cumulative Amount
1 FY2005 $0.00 $0.00 $0.00
2 FY2006 $0.00 $0.00 $0.00
3 FY2007 $45,666.48 $0.00 $45,666.48
4 FY2008 $146,296.25 $1,481.70 $193,444.43
5 FY2009 $163,601.69 $527.23 $357,573.35
6 FY2010 $163,569.43 $128.91 $521,271.69
7 FY2011 $239,397.71 $295.63 $760,965.03
8 FY2012 $262,508.01 $268.30 $1,023,741.34
9 FY2013 $294,663.41 $203.77 $1,318,608.52
10 FY2014 $265,860.11 $327.56 $1,584,796.19
11 FY2015* $265,860.11 $0.00 $1,850,656.30
`-Estimated