HomeMy WebLinkAbout2004-739-10.25.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2004-739
RESOLUTION AUTHORIZING CERTIFICATION TO THE
COUNTY AUDITOR THE CITY' S EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT FROM THE TAX
INCREMENT FUND.
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 as
indicated below:
Exhibit "A"
Project Designation: Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Date of Issuance Source Amount Description of Cumulative
or Expenditure Indebtedness Amount
Incurred
Site Development FY 1996 Principal $220,648.35 G.O. Bonds $220,648.35
MidPort Blvd. FY 1996 Principal $170,748.90 G.O. Bonds $391,397.25
Rail Improvements FY 1996 Principal $8,682.75 G.O. Bonds $400,080.00
Interest $205,357.39 G.O. Bonds $605,437.39
Loan-Cedar Falls BDC Principal $10,000.00 ADVANCE $615,437.39
Interest 97-00 $1,200.00 $616,637.39
Interest FY 01 $300.00 $616,937.39
Interest FY 02 $1,633.63 $618,571.02
Basic Materials (AADA)FY Principal $100,000.00 ADVANCE $718,571.02
1997 Interest 97-00 $12,000.00 $730,571.02
Interest FY 01 $3,000.00 $733,571.02
Interest FY 02 $16,561.64 $750,132.66
Interest FY 03 $3,180.82
Interest FY 04 $2,537.26 $753,313.48
MIDPORT BLVD. RISE Principal $129,945.07 G.O. Bonds $885,795.81
PHASE 1 6/97
Rail Spur Improvements FY 97 Principal $116,629.00 G.O. Bonds $1,002,424.81
Interest $119,366.30 G.O. Bonds $1,121,791.11
Site Development FY 98 Principal $141,120.89 G.O. Bonds $1,262,912.00
MidPort Blvd. FY 98 Principal $47,137.12 G.O. Bonds $1,310,049.12
Resolution No. 2004-739
Page 2
Rail Spur Improvements FY 98 Principal $77,449.07 G.O. Bonds $1,387,498.19
Interest $123,689.79 G.O. Bonds $1,511,187.98
Site Development FY 99 Principal $28,285.68 G. O. Bonds $1,539,473.66
MidPort Blvd. FY 99 Principal $266,085.29 G. O. Bonds $1,805,558.95
Sanitary Sewer FY 99 Principal $793,792.01 G. O. Bonds $2,599,350.96
Interest $707,864.43 G. O. Bonds $3,307,215.39
Site Development FY 00 Principal $106,524.92 $3,413,740.31
Interest $55,651.00 G. O. Bonds
$3,469,391.31
Sanitary Sewer FY 98-99 Principal $214,142.37 Advance $3,683,533.68
CB Richard Ellis Principal $210,000.00 Contract $3,893,533.68
Water Tap—WTT Principal $4,535.93 Advance $3,898,069.61
Water Tap—Adv. Heat Treat $6,531.28 Advance $3,904,600.89
Principal
WTT Properties Tax Rebate TIF Rebate Agreement
100% 2001 $29,912.18 $3,934,513.07
100% 2002 $31,504.14 $3,966,017.21
100% 2003 $32,634.15 $3,998,651.36
Clear Windows Rebate TIF Rebate Agreement
*75%2004 $12,953.00 $4,011,604.36
*60% 2005 $10,363.00 $4,021,967.36
*45% 2006 $7,772.00 $4,029,739.36
*30% 2007 $5,181.00 $4,034,920.36
*15% 2008 $2,591.00 $4,037,511.36
Advanced Heat Treat Rebate TIF Rebate Agreement
100%2002 $43,149.60 $4,080,660.96
100%2003 $44,697.34 $4,125,358.30
100% 2004 $46,099.04 $4,171,457.34
Cedar Valley Economic $4,500.00 Contract $4,175,957.34
Development(Marketing) Principal
Midport Sign Fund 412 Principal $51,825.00 G.O. Bonds $4,227,782.34
Interest $23,665.00 $4,251,447.34
Midport Sign Fund 411 Principal $11,069.00 $4,262,516.34
Interest $7,637.70 $4,270,154.04
Cedar Valley FY 2004 Principal $17,500.00 Contract $4,282,846.38
Fund 413 Taxable Principal $200,000.00 G.O. Bonds $4,282,846.38
Interest $76,609.00 $4,282,846.38
Fund 413 Tax Exempt Principal $100,000.00 G.O. Bonds $4,282,846.38
Interest $26,177.00 $4,282,846.38
Fund 414 Tax Exempt Principal $150,000.00 G.O. Bonds $4,282,846.38
Interest $53,363.00 $4,282,846.38
*Estimated
Re4.o t .ion No. 2004-739
Pa �3
'O-J H
O �
Htrtr
H N
OHti1
ril s Exhibit "B"
FT-1 H E-+ Project Designation: Airport Tax Increment Redevelopment
H tri Schedule 2
H- o Indebtedness Qualifying for Tax Increment Reimbursement
trioN H H Under Section 403.19(2)
H n g, Year Received Amount Received from Cumulative Amount
H 0 s H Payments under Section
s tc d x 402.12(2)
H � FY 1996 $0.00 $0.00
Htt4 FY 1997
rum $0.00 $0.00
o H E, FY 1998 $0.00 $0.00
o H $0.00 $0.00
T 0a14 FY1999
I s [ it -r
w �5� FY 2000 $199,485.92 $199,485.92
O FY2001 $173,980.54 $373,466.46
H� FY 2002 $215,717.04 $589,183.50
tai 8 FY 2003 $226,422.30 $815,605.80
c o9 FY 2004 $238,607.04 $1,054,212.84
10 FY 2005* $231,719.00 $1,285,931.84
*Estimated
PASSED AND ADOPTED this 25th day of October, 2004 .
--7------5ae '4
Tim Hurley, Mayor
ATTEST:
5,4_,„4-
Nancy ck , CMC
City Clerk