Loading...
HomeMy WebLinkAbout2003-679-10.06.2003 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2003-679 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: Northeast Industrial Area Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. I Source Description of Indebtedness Cumulative Amount AMOUNT I INCURRED Land Acquisition 8/95 Principal $245,447.901 Land Contract $245,447.90 Land Acquisition Principal $362,178.20 Land Contract $607,626.10 Sanitary Sewer FY 97-98 Principal $215,725.99 Advance $823,352.09 Dirt Credit 1997 , Principal $347,400.00 Agreement $1,170,752.09 2000-$126,796.00 2001-$63,203.00 2002-$110,908.00 2003-$46,492.50 Engineering FY 97-00 Principal $105,796.41 G.O.Bonds $1,276,548.50 Recording fees FY 97-00 Principal $3,048.75 G.O.Bonds $1,279,597.25 Northeast Drive FY 1997 Principal $97,276.80 G.O. Bonds $1,376,874.05 T.G. Drive FY 1998 Principal $125,410.59 G.O. Bonds $1,502,284.64 R&N Investments II Principal TIF Tax Rebate Rebate 50% 20031 $0 $1,502,284.64 50% 2004 $1,502,284.64 50% 2005 $1,502,284.64 50% 2006 $1,502,284.64 50% 2007 $1,502,284.64 Resolution 2003-679 Page 2 Interstate Brands Rebate Principal TIF Tax Rebate 75% 2003 $21,999.00 $1,524,283.64 60%2004 $17,599.20 $1,541,882.84 *45%2005 $13,199.45 $1,555,082.29 *3©% 2006 $8,799.60 15% 2007 $1,563,881.89 $4,399.80 $1,568,281,69 Financing FY 1997-2000 Interest $456,635.34 G.O. Bonds $2,024,917.03 Plat Engineering Principal $5,000.00 $2,029,917.03 Fund 411 Interest $3,450.00 G.O. Bonds $2,033,367.03 GT Drive II Fund 411-Construction Principal $182,868.00 $2,216,235.03 G.O. Bonds Interest $71,964.00 $2,288,199.03 Fund412-Construction Principal $127,704.00 $2,415,903.03 G.O. Bonds Interest $49,711.00 $2,465,614.03 Fund 412-RISE Principal $4,500.00 $2,470,114.03 Application G.O. Bonds Interest $3,139.00 $2,473,253.03 WIDA FY 2003 Interest $8,482.82 Contract $2,481,735.85 Cedar Valley Principal $13,200.00 Contract $2,494,935.85 *Estimated EXHIBIT"B" Project Designation: Northeast Industrial Area Tax Increment Redevelopment Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Year Received Amount Received from Cumulative Amount Payments under Section 402.12(2) 1 FY 1996 $0.00 $0.00 2 FY 1997 $0.00 $0.00 3 FY 1998 $0.00 $0,00 4 FY 1999 $201,360.86 $201,360.86 5 FY 2000 $110,300.50 $311,661.36 6 FY 2001 $194,966.55 $506,627.91 7 FY 2002 $321,469.26 $828,097.17 8 FY 2003 $381,390.68 $1,209,487.85 9 FY 2004* $430,000.00 $1,639,487.85 *Estimated tion 2003-679 0 0Oss HJDC) t i s t oH � rn >-+ HX � tri ASSED AND ADOPTED this 6th day of October, 2003. x � otri � os CI o PI CC • HHH so John Rooff, Mayor o H y+ X H H H ca) H rJ-: s orgy cker City Clerk NH H O D tx1 CC tI Co