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Home My WebLink About2003-677-10.06.2003 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO, 2003-677 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 Expenditure , Amount 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 $Z,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 7/15/82 Principal $4,725,000.00 G.O.Bonds $8,888,898.37 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 8/1/84 Principal $350,000.00 G.O. Bonds $16,592,142.12 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 5/85 1 Principal $50,000.00 G.O. Bonds $17,160,998.12 Interest $46,539.50 G.O. Bonds $17,207,537.62 TaN:Redeemed Properties 5/85 Contract $5,004.49 Advance $17,212,542.11 Resolution 2003-677 Page 2 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 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 Bik E.4th St.500 Principal $360,000.00 G.O. Bonds $17,739,093.20 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 1 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 Walkway Contract $127,000.00 Advance $18,428,746.23 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 Waterloo Principal $37,055.17 G.O. Bonds $21,690,991.90 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 FY Principal $150,000.00 G.O. Bonds $23,292,162.02 99-00 Financing Interest $69,826.77 G.O. Bonds $23,361,988.79 Johnson Rebate#1 &2 11I^ Rebate TIF Rebate 5yrs@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 $34,086.92 $23,508,231.26 *2005 $10,114.66 $23,518,345.92 *2006 $10,114.66 $23,528,460.58 *2007 $10,114.66 $23,538,575.24 *200S $10,114.66 $23,548,689.90 GSW Rebate 5 yrs.@ 100% TIP Rebate TIF Rebate 2001 $9,747.24 $23,558,437.14 2002 $10,982. : $23,569,419.42 2003 $10,780.79 $23,580,200.21 '2004 $10,780.79 $23,590,981.00 '2005 $10,780.7• $23,601,761.79 Hollen Rebate 5 yrs.@ 100% TIF Rebate TIF Rebate 2001 $2,388.3 $23,604,150.12 2002 $2,954.68 $23,607,104.80 2003 $2,960.0: $23,610,064.88 "2004 $2,960.08 $23,613,024.96 '2005 $2,960.08 $23,615,985.04 Resolution 2003-677 Page 3 Ritter Rebate 10 yrs @ 100% or until T1F Rebate TIF Rebate ,910 is pd I 2001 $2,660.86 $23,618,645.90 2002 $2,837.28 $23,621,483.18 2003 $2,873.50 $23,624,356.68 *2004 $2,873.50 $23,627,230.18 *2005 $2,873.50 $23,630,103.68 2006 $2,873.50 $23,632,977.18 *2007 $2873.50 $23,635,850.68 *2008 $1,044.36 $23,636,895.04 Lown Rebate#1 5 yrs @ 100% lit Rebate TIF Rebate 2001 $1,473.37 $23,638,368.41 2002 $1,694.74 $23,640,063.15 2003 $722.85 $23,640,786.00 *2004 $723.30 $23,641,509.30 *2005 $723.30 $23,642,232.60 Lown Rebate#2 5 yrs @ 100% TIF Rebate TIF Rebate 2001 $514.77 $23,642,747,37 2002 $565.50 $23,643,312.87 2003 $540.89 $23,643,853.76 *2004 $541.78 $23,644,395.54 *2005 $541.78 $23,644,937.32 Roberts Rebate 5 yrs C 100% TIF Rebate 111. Rebate 2002? $0 $23,644,937.32 2003r $23,644,937,32 2004? $23,644,937.32 2005? $23,644,937.32 2006? $23,644,937.32 Marsh Place Rebate 10 yrs TIF Rebate 111, Rebate 85% 2003 $11,693.82 $23,656,631.14 *85% 2004 $11,693.82 $23,668,324.96 *85% 2005 $11,693.82 $23,680,018.78 *85% 2006 $11,693.82 $23,691,712.60 *85% 2007 $11,693.82 $23,703,406.42 *85% 2008 $11,693.82 $23,715,100.24 *85% 2009 $11,693.82 $23,726,794.06 *75% 2010 $9,624.53 $23,736,418.59 *60% 2011 $8,769.75 $23,745,188.34 *45% 2012 _ $6,190.41 $23,751,378.75 Garthoff Rebate 5 yrs @ 100% 11F Rebate TIF Rebate 2003 $0 $23,751,378.75 2004 $23,751,378.75 2005 $23,751,378.75 2006 $23,751,378.75 2007 $23,751,378.75 Ament Rebate 5 yrs @ 100% 'nu Rebate TIF Rebate 2002 $1,601.89 $23,752,980.64 2003 $1,585.43 $23,754,566.07 *2004 $1,585.43 $23,756,151.50 *2005 $1,585.43 $23,757,736.93 *2006 $1,585.43 $23,759,322.36 MIK Rebate 5 yrs @ 100% TIF Rebate TIF Rebate 2002 $6,516.00 $23,765,838.36 2003 $6,278.34 $23,772,116.70 Resolution 2003-677 Page 4 *2004 $6,278.34 $23,778,395.04 *2005 $6,278.34 $23,784,673.38 *2006 $6,278.34 $23,790,951.72 Cedar Skyline Rebate TIF Rebate 1I1' Rebate 100%* 2003 $7,892.58 $23,798,844.30 100%* 2004 $7,89258 $23,806,736.88 100%* 2005 $7,892.58 $23,814,629.46 100%* 2006 $7,892.58 $23,822,522.04 100%* 2007 $7,892.58 $23,830,414.62 100W 2008, $23,830,414.62 100%* 2009 $23,830,414.62 100% 20104 $23,830,414.62 100%* 2011 $23,830,414.62 100W 2012 $23,830,414.62 Landau Rebate 10 yrs @100% TIF Rebate TIF Rebate 2003 $13,646.60 $23,844,061.22 *22004 $13,646.60 $23,857,707.82 *2005 $13,646.60 $23,871,354.42 "2006 $13,646.60 $23,885,001.02 *2007 $13,646.60 $23,898,647.62 *2008 $13,646.60 $23,912,294.22 *2009 $13,646.60 $23,925,940.82 *2010 $13,646.60 $23,939,587.42 *2011 $13,646.60 $23,953,234.02 *2012 $13,646.60 $23,966,880.62 Downtown Redevelopment 6/01 Principal $307,500.00 G.O. Bonds $24,274,380.62 Interest $145,232.00 G.O. Bonds $24,419,612.62 SSMID Taxes Principal $66,512.46 Contract $24,486,125.08 Downtown St.RISE Match Principal $150,000.00 G.O.Bonds $24,636,125.08 Fund 413 Interest $32,912.00 G.O. Bonds $24,669,037.08 US 63 Study Fund 411 Principal $50,000.00 G.O. Bonds $24,719,037.08 Interest $23,445.00 G.O. Bonds $24,742,482.08 Windows on Waterloo V Principal $11,002.00 G.O.Bonds $24,753,484.08 Fund 412 Interest $7,674.00 G.O. Bonds $24,761,158.08 Downtown Redevelopment Principal $200,000.00 G.O. Bonds $24,961,158.08 Fund 413 Interest $47,888.00 G.O.Bonds $25,009,046.08 Downtown Street Lighting Principal $40,000.00 G.O. Bonds $25,049,046.08 Fund 414 Interest $13,450.00 G.O. Bonds $25,062,496.08 Main Street 2004 Principal $30,000.00 Contract $25,092,496.08 SSMID 2003 Principal $56,641.16 Contract $25,149,137.24 *Estimated EXHIBIT"B" Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) Amount Received from Payments under Section No. Year Received 402.12(2) Cumulative Amount 1 FY 1977 $22,566.19 $22,566.19 2 FY 1978 $50,863.50 $73,429.69 3 FY 1979 $163,010.80 $236,440.49 t;AE34putrion 2003-677 ta9Ao d � xsm • tri I' tX F- n H 004 FY 1980 $216,795.08 o s s t r $453,235.57 FY 1981 $319,027.40F $772,262.97 1982 $385,731.14 $1,157,994.11 M x , x 7 FY 1983 $476,100.00 $1,634,094.11 0 0 043 FY 1984 $534,281.00 $2,168,375.11 M z9 FY 1985 $582,411.43 $2,750,786.54 0 01,0 FY 1986 $773,667.04 �..• t .... $3,524,453.58 c '1 41 FY 1987 $829,625.00 $4,354,078.58 o fi3.4, 1 FY 1988 8778,965,94 $5,133,044.52 w 513 c FY 1989 $607,992.00 $5,741,036.52 CO H H Q FY 1990 $1,104,273.00 t.- E ) $6,845,309.52 U � > FY 1991 $911,105.00 � � $7,756,414.52 FY 1992 $887,043.00 $8,643,457.52 o tlii 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 27 FY 2004* $775,000.00 $17,365,511.33 *Estimated Values PASSED AND ADOPTED this 6th day of October, 2003. John ''R. Rooff, Ma ATTEST: Nancy Ecker , City Clerk 6