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HomeMy WebLinkAbout2004-742-10.25.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2004-742 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: Downtown Waterloo Urban Renewal and Redevelopment Program Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Date of Issuance or Source Description of Indebtedness Cumulative Amount Expenditure Amount Incurred 147 W. Park Ave. Paving Contract $273,409.61 Advance $273,409.61 91 Bridge Canopy Contract $573,433.57 Advance $846,843.18 152 Fourth Street Paving Contract $323,983.56 Advance $1,170,826.74 28 Bridge Lighting Contract $14,396.40 Advance $1,185,223.14 Phase I Study Contract $15,000.00 Advance $1,200,223.14 Phase II Study Contract $152,553.00 Advance $1,352,776.14 613 Water Acquisition Contract $72,500.00 Advance $1,425,276.14 UDAG#1 7/17/80 Principal $1,001,627.00 G.O. Bonds $2,426,903.14 Interest $428,749.00 G.O. Bonds $2,855,652.14 Phase III Study 12/20/80 Contract $111,000.00 Advance $2,966,652.14 UDAG#2 7/6/81 Principal $774,990.00 G.O. Bonds $3,741,642.14 Interest $422,256.23 G.O. Bonds $4,163,898.37 West Side Parking Ramp Principal $4,725,000.00 G.O. Bonds $8,888,898.37 7/15/82 Interest $4,779,262.50 G.O. Bonds $13,668,160.87 East Side Parking Ramp 8/1/83 Principal $1,500,000.00 G.O. Bonds $15,168,160.87 Interest $1,073,981.25 G.O. Bonds $16,242,142.12 East Side Parking Facility Principal $350,000.00 G.O. Bonds $16,592,142.12 8/1/84 Interest $325,777.00 G.O. Bonds $16,917,919.12 Conway Plaza Skywalk 8/1/84 Principal $100,000.00 G.O. Bonds $17,017,919.12 Interest $93,079.00 G.O. Bonds $17,110,998.12 East Fifth St. Parking Ramp Principal $50,000.00 G.O. Bonds $17,160,998.12 5/85 Interest $46,539.50 G.O. Bonds $17,207,537.62 Tax Redeemed Properties 5/85 Contract $5,004.49 Advance $17,212,542.11 Skywalk Feasibility Study 8/85 Contract $25,000.00 Advance $17,237,542.11 317 E. 4th Longfellow Property Contract $12,000.00 Advance $17,249,542.11 12/85 Resolution No. 2004-742 Page 2 East Fifth Parking Ramp 5/86 Principal $50,000.00 G.O. Bonds $17,299,542.11 Interest $37,051.09 G.O. Bonds $17,336,593.20 Ellis Hotel Demolition 8/86 Contract $15,000.00 Advance $17,351,593.20 Ellis Hotel Demolition 8/86 Contract $27,500.00 WIDA Advance $17,379,093.20 Paving 6/87 400 Blk E. 4th St. Principal $360,000.00 G.O. Bonds $17,739,093.20 500 Blk Lafayette Interest $233,134.09 G.O. Bonds $17,972,227.29 East Fifth Parking Ramp 6/87 Principal $100,000.00 G.O. Bonds $18,072,227.29 Interest $64,759.47 G.O.Bonds $18,136,986.76 Conway Plaza Phase I Skywalk Principal $100,000.00 G.O. Bonds $18,236,986.76 Refinancing 6/87 Interest $64,759.47 G.O. Bonds $18,301,746.23 4th St. Bridge Covered Contract $127,000.00 Advance $18,428,746.23 Walkway 6/88 Conway Plaza Skywalk 7/88 & Loan $132,625.00 Advance $18,561,371.23 7/89 Park Avenue Parking Ramp Principal $2,000,000.00 G.O. Bonds $20,561,371.23 Expansion Interest $1,092,565.50 G.O. Bonds $21,653,936.73 Property acquisition for Principal $37,055.17 G.O. Bonds $21,690,991.90 Waterloo Industries 5/98 Interest $19,020.08 G.O. Bonds $21,710,011.98 Acquisition 5/98 Principal $37,944.83 G.O. Bonds $21,747,956.81 Interest $18,369.06 G.O. Bonds $21,766,325.87 Interest on Advance FY 98-00 TIF $68,160.00 Interest $21,834,485.87 Acquisition&Demo FY 98-00 TIF $116,002.25 Contracts $21,950,488.12 Acquisitions&Demo FY 98-00 Principal $647,654.75 G.O.Bonds $22,598,142.87 Financing Interest $421,307.99 G.O Bonds $23,019,450.86 Acquisitions&Demo FY 00 Principal $80,602.57 G. O. Bonds $23,100,053.43 Financing Interest $42,108.59 G. O.Bonds $23,142,162.02 Parking Ramp Reconstruction Principal $150,000.00 G.O. Bonds $23,292,162.02 FY 99-00 Financing Interest $69,826.77 G.O. Bonds $23,361,988.79 Johnson Rebate# 1 &2 TIF Rebate TIF Rebate 5 yrs @ 100%, 8 yrs @ 100% 2000 $20,934.30 $23,382,923.09 2001 $21,381.91 $23,404,305.00 2002 $34,795.88 $23,439,100.88 2003 $35,043.46 $23,474,144.34 2004 $37,174.38 $23,511,318.72 *2005 $12,887.94 $23,524,206.66 *2006 $12,887.94 $23,537,094.60 *2007 $12,887.94 $23,549,982.54 *2008 $12,887.94 $23,562,870.48 GSW Rebate 5 yrs. @ 100% TIF Rebate TIF Rebate 2001 $9,747.24 $23,572,617.72 2002 $10,982.28 $23,583,600.00 2003 $10,780.79 $23,594,380.79 2004 $11,732.94 $23,606,113.73 *2005 $11,732.94 $23,617,846.67 Hollen Rebate 5 yrs. @ 100% TIF Rebate TIF Rebate 2001 $2,388.33 $23,620,235.00 2002 $2,954.68 $23,623,189.68 2003 $2,960.08 $23,626,149.76 2004 $3,156.64 $23,629,306.40 *2005 $3,156.64 $23,632,463.04 Ritter Rebate 10 yrs @ 100% TIF Rebate TIF Rebate or until $20,910 is pd 2001 $2,660.86 $23,635,123.90 2002 $2,837.28 $23,637,961.18 2003 $2,873.50 $23,640,834.68 2004 $3,031.30 $23,643,865.98 Resolution No. 2004-742 Page 3 *2005 $3,031.30 $23,646,897.28 *2006 $3,031.30 $23,649,928.58 *2007 $3,031.30 $23,652,959.88 *2008 $413.56 $23,653,373.44 Lown Rebate#1 5 yrs @ 100% TIF Rebate TIF Rebate 2001 $1,473.37 $23,654,846.81 2002 $1,694.74 $23,656,541.55 2003 $722.85 $23,657,264.40 2004 $1,005.92 $23,658,270.32 *2005 $1,005.92 $23,659,276.24 Lown Rebate#2 5 yrs @100% TIF Rebate TIF Rebate 2001 $514.77 $23,659,791.01 2002 $565.50 $23,660,356.51 2003 $540.89 $23,660,897.40 2004 $604.16 $23,661,501.56 *2005 $604.16 $23,662,105.72 Roberts Rebate 5 yrs @ 100% TIF Rebate TIF Rebate 2002? $0 $23,662,105.72 2003? $23,662,105.72 2004? $23,662,105.72 2005? $23,662,105.72 2006? $23,662,105.72 Marsh Place Rebate 10 yrs TIF Rebate TIF Rebate 85%2003 $11,693.82 $23,673,799.54 85% 2004 $14,427.14 $23,688,226.68 85%2005 $14,427.14 $23,702,653.82 *85% 2006 $14,427.14 $23,717,080.96 *85% 2007 $14,427.14 $23,731,508.10 *85% 2008 $14,427.14 $23,745,935.24 *85%2009 $14,427.14 $23,760,362.38 *75% 2010 $10,820.35 $23,771,182.73 *60%2011 $8,656.28 $23,779,839.01 *45% 2012 $6,492.21 $23,786,331.22 Garthoff Rebate 5 yrs @ 100% TIF Rebate TIF Rebate 2003 $0 $23,786,331.22 2004 $23,786,331.22 2005 $23,786,331.22 2006 $23,786,331.22 2007 $23,786,331.22 Ament Rebate 5 yrs @ 100% TIF Rebate TIF Rebate 2002 $1,601.89 $23,787,933.11 2003 $1,585.43 $23,789,518.54 2004 $1,711.38 $23,791,229.92 *2005 $1,711.38 $23,792,941.30 *2006 $1,711.38 $23,794,652.68 MIK Rebate 5 yrs @ 100% TIF Rebate TIF Rebate 2002 $6,516.00 $23,801,168.68 2003 $6,278.34 $23,807,447.02 2004 $6,383.92 $23,813,830.94 *2005 $6,383.92 $23,820,214.86 *2006 $6,383.92 $23,826,598.78 Micou Rebate TIF Rebate TIF Rebate $23,826,598.78 100% 2005 $528.09 $23,827,126.87 100% 2006 $528.09 $23,827,654.96 100% 2007 $528.09 $23,828,183.05 100% 2008 $528.09 $23,828,711.14 100% 2009 $528.09 $23,829,239.23 Resolution No. 2004-742 Page 4 Cedar Skyline Rebate TIF Rebate TIF Rebate 100%* 2003 $7,892.58 $23,837,131.81 100%* 2004 $7,892.58 $23,845,024.39 100%* 2005 $7,892.58 $23,852,916.97 100%* 2006 $7,892.58 $23,860,809.55 100%* 2007 $7,892.58 $23,868,702.13 100%* 2008 $23,868,702.13 100%* 2009 $23,868,702.13 100%* 2010 $23,868,702.13 100%* 2011 $23,868,702.13 100%* 2012 $23,868,702.13 Landau Rebate 10 yrs @ 100% TIF Rebate TIF Rebate 2003 $13,646.60 $23,882,348.73 2004 $14,427.14 $23,896,775.87 *2005 $14,427.14 $23,911,203.01 *2006 $14,427.14 $23,925,630.15 *2007 $14,427.14 $23,940,057.29 *2008 $14,427.14 $23,954,484.43 *2009 $14,427.14 $23,968,911.57 *2010 $14,427.14 $23,983,338.71 *2011 $14,427.14 $23,997,765.85 *2012 $14,427.14 $24,012,192.99 Downtown Redevelopment 6/01 Principal $307,500.00 G.O. Bonds $24,319,692.99 Interest $145,232.00 G.O. Bonds $24,464,924.99 SSMID Taxes Principal $66,512.46 Contract $24,531,437.45 Downtown St. RISE Match Principal $150,000.00 G.O. Bonds $24,681,437.45 Fund 413 Interest $32,912.00 G.O. Bonds $24,714,349.45 US 63 Study Fund 411 Principal $50,000.00 G.O. Bonds $24,764,349.45 Interest $23,445.00 G.O. Bonds $24,787,794.45 Windows on Waterloo V Principal $11,002.00 G.O. Bonds $24,798,796.45 Fund 412 Interest $7,674.00 G.O. Bonds $24,806,470.45 Downtown Redevelopment Principal $200,000.00 G.O. Bonds $25,006,470.45 Fund 413 Interest $47,888.00 G.O. Bonds $25,054,358.45 Downtown Street Lighting Principal $40,000.00 G.O. Bonds $25,094,358.45 Fund 414 Interest $13,450.00 G.O. Bonds $25,107,808.45 Main Street 2004 Principal $30,000.00 Contract $25,137,808.45 SSMID2003 Principal $56,641.16 Contract $25,194,449.61 SSMID2004 Principal $896.59 Contract $25,195,346.20 Main Street 2005 Principal $30,000.00 Contract $25,225,346.20 Downtown Acquisition Fund Principal $140,000.00 G.O.Bonds $25,365,346.20 414(taxable) Interest $71,380.00 G.O. Bonds $25,436,726.20 Vandewalle Contract Fund 414 Principal $60,000.00 G.O. Bonds $25,496,726.20 Interest $23,225.36 G.O. Bonds $25,519,951.56 Downtown Redevelopment Principal $215,000.00 G.O. Bonds $25,734,951.56 Fund 414 Interest $80,212.62 G.O. Bonds $25,815,164.18 Downtown Street Lighting Principal $10,000.00 G.O. Bonds $25,825,164.18 Fund 414 Interest $3,965.36 G.O. Bonds $25,829,129.54 * Estimated Reo.,ktion No. 2004-742 Pa , 7H � SOD Elt: H CV • 0 EH r=1 Exhibit "B" No . i roject Designation: Downtown Waterloo Urban Renewal and Redevelopment Program • H H ' Schedule 2 ` ' x H tr Indebtedness Qualifying for Tax Increment Reimbursement H O t: 0 N 0 Under Section 403.19(2) V • � L-JE, c s Amount Received from Payments No Year Received under Sec.402.12(2) Cumulative Amount c Cr] C FY 1977 $22,566.19 $22,566.19 4 H FY 1978 $50,863.50 $73,429.69 i, ' FY 1979 $163,010.80 $236,440.49 4�w n FY 1980 $216,795.08 $453,235.57 FY 1981 $319,027.40 $772,262.97 6 o FY 1982 $385,731.14 $1,157,994.11_ 7 Ei Z FY 1983 $476,100.00 $1,634,094.11 ft--- 0,LT, FY 1984 $534,281.00 $2,168,375.11 2 s FY 1985 $582,411.43 $2,750,786.54 1 ,._, FY 1986 $773,667.04 $3,524,453.58 1 r t FY 1987 $829,625.00 $4,354,078.58 1p ,, FY 1988 $778,965.94 $5,133,044.52 13 FY 1989 $607,992.00 $5,741,036.52 14 FY 1990 $1,104,273.00 $6,845,309.52 15 FY 1991 $911,105.00 $7,756,414.52 16 FY 1992 $887,043.00 $8,643,457.52 17 FY 1993 $881,666.00 $9,525,123.52 18 FY 1994 $897,520.00 $10,422,643.52 19 FY 1995 $752,642.00 $11,175,285.52 20 FY 1996 $657,480.00 $11,832,765.52 21 FY 1997 $602,482.27 $12,435,247.79 22 FY 1998 $552,575.59 $12,987,823.38 23 FY 1999 $599,707.00 $13,587,530.38 24 FY 2000 $549,044.97 $14,136,575.35 25 FY 2001 $781,750.82 $14,918,326.17 26 FY 2002 $874,603.46 $15,792,929.63 27 FY 2003 $797,581.70 $16,590,511.33 28 FY 2004 $746,995.28 $17,337,506.61 29 FY 2005* $777,723.00 $18,115,229.61 * Estimated Values PASSED AND ADOPTED this 25th day of October, 2004 . i m Hurley, - ayor i r ATTEST: 62--'14,C ,-- 7a2.0#-- Nancy Ecker 6 CMC City Clerk