HomeMy WebLinkAbout2002-678-11.18.2002 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2002-678
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 or Source Amount Description of Cumulative
Expenditure Indebtedness incurred Amount
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 1997 Principal $100,000.00 ADVANCE $718,571.02
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
MIDPORT BLVD.RISE PHASE 1 Principal $129,945.07 G.O.Bonds $880,077.73
6/97
Rail Spur Improvements FY 97 Principal $116,629.00 G.O.Bonds $996,706.73
Interest $119,366.30 G.O.Bonds $1,116,073.03
Site Development FY 98 Principal $141,120.89 G.O. Bonds $1,257,193.92
MidPort Blvd.FY 98 Principal $47,137.12 G.O.Bonds $1,304,331.04
Rail Spur Improvements Principal $77,449.07 G.O.Bonds $1,381,780.11
FY 98 Interest $123,689.79 G.O.Bonds
$1,505,469.90
Site Development FY 99 Principal $28,285.68 G.O.Bonds $1,533755.59
MidPort Blvd. FY 99 Principal $266,085.29 G.O.Bonds $1,799,840.87
Resolution 2002-678
Page 2
Sanitary Sewer FY 99 Principal $793,792.01 G.O.Bonds $2,593,632.88
Interest $707,864.43 G.O.Bonds $3,301,497.31
Site Development FY 00 Principal $106,524.92 G.O.Bonds $3,408,022.23
Interest $55,651.00 $3,463,673.23
Sanitary Sewer FY 98-99 Principal $214,142,37 Advance $3,677,815.60
CB Richard Ellis Principal $210,000.00 Contract $3,887,815.60
Water Tap-WTT Principal $4,535.93 Advance $3,892,351.53
Water Tap-Adv.Heat Treat Principal $6,531.28 Advance $3,898,882.81
WTT Properties Tax Rebate TIF Rebate $29,912.18 Agreement $3,928,794.99
100%*2001 $31,504.14
$3,960,299.13
100%* 2002
100%* 2003
Clear Windows Rebate 75%*2004 TIF Rebate $0 Agreement $3,960,299.13
60%* 2005
45%* 2006
30%* 2007
15%* 2008
Advanced Heat Treat Rebate TIF Rebate $43,149.60 Agreement $4,003,448.73
100%* 2002
100%* 2003
100%* 2004
Cedar Valley Economic Principal $4,500.00 Contract $4,007,948.73
Development(Marketing)
*-Less Debt Service Levy,SSMID,&other Special Assessments.
EXHIBIT "B"
Project Designation:Airport Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Amount Received from Payments under Sec. Cumulative Amount
Received 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 $0.00 $0.00
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 $262,120.89* $851,304.39
*ESTIMATED
E--- :71 t-s•
-
afi Reoution 2002-678
E-4 M
0 0 ) t:11
t‘y. tr, 5-
t.=.1PASSED AND ADOPTED this 18th day of November, 2002 .
>-4
"•--1 0
DI El 01
0 E-;
0 John R. R of, 'May
• 0 '1 tri
r,
(A ECtr'
t---1 1-1 0 ri
m tr
r--
Nancy
co
Fe .A
Ecket City Clerk
o