HomeMy WebLinkAbout2003-680-10.06.2003 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2003-680
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 Source Amount Description of Cumulative
Issuance or Indebtedness Amount
IExpenditure 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
Bask Materials(AADA)FY Principal $100,000.00 ADVANCE $718,571.02
1997 Interest 97-00 *1,000.00 $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 $753,313.48
Resolution 2003-680
Page 2
MIDPORT BLVD.RISE Principal $129,945.07 G.O. Bonds $883,258.55
PHASE 16/97
Rail Spur Improvements FY Principal $116,629.00 G.O. Bonds $999,887.55
`7 Interest $119,366.30 G.O. Bonds $1,119,253.85
Site Development FY 98 Principal $141,120.89 G.O.Bonds $1,260,374.74
Midport Blvd. FY 98 Principal $47,137.12 G.O. Bonds $1,307,511.86
Rail Spur Improvements FY Principal $77,449.07 G.O. Bonds $1,384,960.93
98
Interest $123,689.79 G.O. Bonds $1,508,650.72
Site Development FY 99 Principal $28,285.68 G.O. Bonds $1,536,936.40
Midport Blvd. FY 99 Principal $266,085.29 G. O. Bonds $1,803,021.69
Sanitary Sewer FY 99 Principal $793,792.01 G.O. Bonds $2,596,813.70
Interest $707,864.43 G.O. Bonds $3,304,678.13
Site Development FY 00 Principal $106,524.92 $3,411,203.05
G.O. Bonds
Interest $55,651.00 $3,466,854.05
Sanitary Sewer FY 98-99 Principal $214,14237 Advance $3,680,996.42
CB Richard Ellis Principal $210,000.00 Contract $3,890,996.42
Water Tap-WTT Principal $4,535.93 Advance $3,895,532.35
Water Tap-Adv.Heat Treat $6,531.28 Advance $3,902,063.63
Principal
WTT Properties Tax Rebate TIF Rebate Agreement
100% 2001 $29,912.1.8 $3,931,975.81
100% 2002 $31,504.14 $3,963,479.95
100% 2003 $32,634.15 $3,996,114.10
Clear Windows Rebate 111, Rebate Agreement
*75% 2004 $12,953 $4,009,067.10
*60% 2005 $10,363 $4,019,430.10
*45% 2006 $7,772 $4,027,202.10
*30% 2007 $5,181 $4,032,383.10
*15% 2008 $2,591 $4,034,974.10
Advanced Heat Treat Rebate TIF Rebate Agreement
100% 2002 $43,149.60 $4,078,123.70
100% 2003 $44,697.34 $4,122,821.04
100%* 2004 $44,697.34 $4,167,518.38
Cedar Valley Economic $4,500.00 Contract $4,172,01838
Development(Marketing)
Principal
Midport Sign Fund 412 Principal $51,825.00 G.O. Bonds $4,223,843.38
Interest $23,665.00 $4,247,508.38
Midport Sign Fund 411 Principal $11,069.00 $4,258,577.38
Interest $11,069.00 $4,269,646.38
Cedar Valley Principal $13,200.00 Contract $4,282,846.38
*Estimated
0.-Regolvtion 2003-680
Co
0
1--i 0 Hi
0 Ca S
El 0
EXHIBIT"B"
co El
0 El r:5 til Project Designation:Airport Tax Increment Redevelopment
Schedule 2
0 tri • Indebtedness Qualifying for Tax Increment Reimbursement
s 1-1 E-11-1
s X Under Section 403.19(2)
m tri CO
o
. No. Year Received 1 Amount Received from Cumulative Amount
Payments under Section
c) 1-1 - txl 02.12(2)
(0 tri co N
I f-f E-1
rt) 0 t=i 1 FY 19% $0.00 $0.00
co ec, x tv
o E--i tr 2 FY 1997 $0.00 $0.00
f-I Cli 0
3 FY 1998 $0.00 $0.00
I-1 E-4
4 FY 1999 $0.00 $0.00
0 L
cR
M 5 FY 2000 $199,485.92 $199,485.92
6 FY 2001 $173,980.54 $373,466.46
7 FY 2002 $215,717.04 $589,183.50
8 FY 2003 $226,422.30 $815,605.80
9 FY 2004* $225,000.00 $1,040,605.80
*Estimated
PASSED AND ADOPTED this 6th day of October, 2003.
(
Joh R. Roof
,
6Mayor
ATTEST:
,._---
Nancy Eckel, City Clerk