HomeMy WebLinkAbout2005-449-05.23.2005 (This Notice to be posted)
NOTICE AND CALL OF PUBLIC MEETING
Governmental Body: The City Council of Waterloo, Iowa.
Date of Meeting: May 23 , 2005.
Time of Meeting: 5 : 3 0 o'clock P .M.
Place of Meeting: Council Chambers, City Hall, Waterloo, Iowa.
PUBLIC NOTICE IS HEREBY GIVEN that the above mentioned governmental
body will meet at the date, time and place above set out. The tentative agenda for said
meeting is as follows:
Not to exceed $900,000 General Obligation Bonds
• Public hearing on the issuance.
• Resolution instituting proceedings to take additional action.
Such additional matters as are set forth on the additional 5 page(s) attached hereto.
(number)
This notice is given at the direction of the Mayor pursuant to Chapter 21, Code of
Iowa, and the local rules of said governmental body.
City Clerk, Wa 4loo, Iowa
Nancy Ecker , CMC
May 23 , 2005
The City Council of Waterloo, Iowa, met inRe gu l a r session, in the Council
Chambers, City Hall, Waterloo, Iowa, at 5 : 30 o'clock p .M., on the above date.
There were present Mayor Tim Hurley , in the chair, and the following
named Council Members:
Kincaid, Cole , Greenwood, Clark,
Schmitt , Gunderson, Welper
Absent: None
* * * * * * *
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The Mayor announced that this was the time and place for the public hearing and
meeting on the matter of the issuance of not to exceed $900,000 General Obligation
Bonds in order to provide funds to pay costs of aiding in the planning, undertaking and
carrying out of urban renewal project activities under Chapter 403 of the Code of Iowa, as
amended, and the Urban Renewal Plans for the San Marnan Urban Renewal Area and the
Logan Tax Increment Redevelopment Area, including incentive payments relating to the
acquisition and private redevelopment of properties and the construction of streets and
other public improvements within such areas, essential corporate purposes, and that
notice of the proposed action by the Council to institute proceedings for the issuance of
said bonds, and the right to petition for an election had been published pursuant to the
provisions of Section 384.24(3)(q) of the City Code of Iowa. The Clerk reported that no
such petition had been filed, requesting that the question of issuing said Bonds be
submitted to the qualified electors of the City.
The Mayor then asked the Clerk whether any written objections had been filed by
any City resident or property owner to the issuance of said bonds. The Clerk advised the
Mayor and the Council that i written objections had been filed. The Mayor then
called for oral objections to the issuance of said bonds and 0 were made.
Whereupon, the Mayor declared the time for receiving oral and written objections to be
closed.
(Attach here a summary of objections
received or made, if any)
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The Council then considered the proposed action and the extent of objections
thereto.
Whereupon, Council Member Clark introduced and delivered to
the Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING
PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $900,000 GENERAL OBLIGATION BONDS", and moved:
® that the Resolution be adopted.
to ADJOURN and defer action on the Resolution and the proposal to institute
proceedings for the issuance of bonds to the meeting to be held at
o'clock .M. on the day of , 2005, at this
place.
Council Member Schmitt seconded the motion. The roll was
called and the vote was,
AYES: Kincaid, Greenwood, Clark, Schmitt ,
Gunderson, Welper
NAYS:
ABSTAIN : Cole because she is an employee of VGM
Whereupon, the Mayor declared the measure duly adopted.
Resolution No . 2005-449
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $900,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, this Council has held
a public meeting and hearing upon the proposal to institute proceedings for the issuance
of not to exceed $900,000 General Obligation Bonds for the essential corporate purpose
of paying costs of the aiding in the planning, undertaking and carrying out of urban
renewal project activities under Chapter 403 of the Code of Iowa, as amended, and the
Urban Renewal Plans for the San Marnan Urban Renewal Area and the Logan Tax
Increment Redevelopment Area, including incentive payments relating to the acquisition
and private redevelopment of properties and the construction of streets and other public
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improvements within such areas, and no petition was filed calling for a referendum
thereon, and this Council has considered the extent of objections received from residents
or property owners as to said proposed issuance of Bonds; and, accordingly the following
action is now considered to be in the best interests of the City and residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WA I'ERLOO, IOWA:
Section 1. That this Council does hereby institute proceedings and take additional
action for the sale and issuance in the manner required by law of not to exceed $900,000
General Obligation Bonds for the foregoing essential corporate purposes.
Section 2. The Clerk and Chief Financial Officer are authorized and directed to
proceed on behalf of the City with the sale of said bonds, to select a date for the sale
thereof, to cause to be prepared such notice and sale information as may appear
appropriate, to publish and distribute the same on behalf of the City and this Council and
otherwise to take all action necessary to permit the sale of said bonds on a basis favorable
to the City and acceptable to the Council.
PASSED AND APPROVED this 2 3 r d day of May
2005.
!d- 4Mayor Tim Hurley
ATTEST:
cel2L+ •
City C erk Na y Eckert , CMC
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CIG-3
9/91
CERTIFICATE
STATE OF IOWA )
) SS
COUNTY OF BLACK HAWK )
I, the undersigned City Clerk of Waterloo, Iowa, do hereby certify that attached is
a true and complete copy of the portion of the corporate records of said Municipality
showing proceedings of the Council, and the same is a true and complete copy of the
action taken by said Council with respect to said matter at the meeting held on the date
indicated in the attachment, which proceedings remain in full force and effect, and have
not been amended or rescinded in any way; that meeting and all action thereat was duly
and publicly held in accordance with a notice of meeting and tentative agenda, a copy of
which was timely served on each member of the Council and posted on a bulletin board
or other prominent place easily accessible to the public and clearly designated for that
purpose at the principal office of the Council (a copy of the face sheet of said agenda
being attached hereto)pursuant to the local rules of the Council and the provisions of
Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at
least twenty-four hours prior to the commencement of the meeting as required by said law
and with members of the public present in attendance; I further certify that the individuals
named therein were on the date thereof duly and lawfully possessed of their respective
city offices as indicated therein, that no Council vacancy existed except as may be stated
in said proceedings, and that no controversy or litigation is pending, prayed or threatened
involving the incorporation, organization, existence or boundaries of the City or the right
of the individuals named therein as officers to their respective positions.
WITNESS my hand and the seal of said Municipality hereto affixed this 2 5 th
day of May , 2005.
cY17\0 ckaj
City Clerk, Wt loo, Iowa
Nancy Ecke t , CMC
SEAL
DCORNELL\453489.1\WP\11310072
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Page 1 of 1
NANCY ECKERT
From: Daniel Pawlak[pawlakdd@mchsi.com]
Sent: Sunday, May 22, 2005 8:47 PM
To: nancy.eckert@waterloo-ia.org
Cc: carolyn.cole@waterloo-ia.org
Subject: City Council Meeting 23 May 2005 -Objection Filed
As a property owner and taxpayer for 30+ years in the City of Waterloo, I object to the policy of"bonding"to
providing excessive incentives to area businesses to finance their expansion plans. I don't want my tax dollars
used to pay for the services needed by a private enterprise.
This results in the continual erosion of our level of existing City services since the taxes they(a private enterprise)
might pay are used primarily to cover the costs of bonding for the incentives and not to support the City services
that they will receive. They(a private enterprise)do"NOT" pay their fair share of the tax burden during the 5 to 10
years the incentives are in effect. These incentives may include "reduced taxes,free land, streets, utilities, police
and fire protection".
The City of Waterloo currently has a liability of approx$100 million in outstanding bonds and has annual interest
payments of approx$3 to$4 million.
It also appears that there is potentially a "significant" Conflict of Interest in the acquisition plan for the properties
for the Ansborough Interchange to US 20. Even though the City Attorney does not actively participate at"public"
City Council meetings involving any VGM related matters, he does have significant management responsibility
with VGM and would have final approval of incentives obtained from the City.
The City will now force the existing property owners out instead of the initial plan that required acquiring only a
small portion of their land for the widened roadway for the Ansborough interchange. The City is apparently
planning to spend a $482,455 co-payment to provide VGM "access to Ansborough" and will likely give the
"acquired properties"to VGM (paid for with my tax dollars). If VGM really wants these properties, they should
buy them directly from the current owners.
The VGM property valuation/assessment for next year will drop approx 10% ($584,680), resulting in a approx
$27,000 loss in taxes for the City, while my property increased 18% ($25,210), resulting in a $496 increase in my
taxes. These incentives are being disapportionaly financed on the backs of the lower income or fixed income
property owners in the form of higher property taxes and the City is not achieving any progress on their goal #7:
WORK TOWARD LOWERING THE OVERALL PROPERTY TAX RATE FOR WATERLOO.
Opposition to Agenda Item#3 - $378,362 (and potential $482,655 City match of RISE funding as noted in #
121635/minutes of 9 May 2005) "VGM incentives".
Opposition to Agenda Item #4 - $3,500,000 "GO bonds"for Essential Corporation Purpose "street construction".
Opposition to Agenda Item #6 - $900,000 "GO bonds"for Essential Corporation Purpose "VGM incentives".
Submitted on 22 May 2005
Dan Pawlak
3150 Hammond Avenue
Waterloo
5/23/2005