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Home My WebLink About2002-681-11.18.2002 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2002-681 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) DATE OF NO 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 $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 Principal $1,500,000.00 G.O.Bonds $15,168,160.87 8/1/83 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 Principal $100,000.00 G.O.Bonds $17,017,919.12 8/1/84 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 Resolution 2002-681 Page 2 Tax Redeemed Properties Contract $5,004.49 Advance $17,212,542.11 5/85 Skywalk Feasibility Study Contract $25,000.00 Advance $17,237,542.11 8/85 317 E.4th Longfellow Contract $12,000.00 Advance $17,249,542.11 Property 12/85 East Fifth Parking Ramp Principal $50,000.00 G.O.Bonds $17,299,542.11 5/86 Interest $37,051.09 G.O.Bonds $17,336,593.20 Ellis Hotel Demolition Contract $15,000.00 Advance $17,351,593.20 8/86 Ellis Hotel Demolition Contract $27,500.00 WIDA Advance $18,428,746.23 8/86 iPaving 6/87 400 Blk E.4th Principal $360,000.00 G.O.Bonds $17,739,093.20 St.500 Blk Lafayette Interest $233,134.09 G.O.Bonds $17,972,227.29 East Fifth Parking Ramp Principal $100,000.00 G.O.Bonds $18,072,227.29 6/87 Interest $64,759.47 G.O.Bonds $18,136,986.76 Conway Plaza Phase I Principal $100,000.00 G.O.Bonds $18,236,986.76 Skywalk 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 Loan $132,625.00 Advance $18,561,371.23 7/88&7/89 Park Avenue Parking Principal $2,000,000.00 G.O.Bonds $21,653,936.73 Ramp Expansion Interest $1,092,565.50 G.O.Bonds 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 $21,710,11,98 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 TIF $116,002.25 Contracts $21,950,488.12 FY 98-00 Acquisitions&Demo Principal $647,654.75 G.O.Bonds $22,598,142.87 FY 98-00 Financing $421,307.99 G.O.Bonds $23,019,450.86 Acquisitions&Demo Principal $80,602.57 G.O.Bonds $23,100,053.43 FY 00 Financing Interest $42,108.59 G.O.Bonds $23,292,162.02 Parking Ramp Principal $150,000.00 G.O.Bonds $23,361,988.79 Reconstruction FY 99-00 Financing Interest $69,826.77 G.O.Bonds $23,687,952.31 Johnson Rebate#1 2000 TIF Rebate $20,934.30 TIF Rebate $23,730,268.52 5 yrs @ 100%" 2001 $21,381.91 $23,751,650.43 2002 2003 $21,027.00 $23,772,677.43 2004 2005 2006 2007 Johnson Rebate#2 2002 $13,768.88 $23,786,446.31 8 Yrs.@ 100%" 2003 2004 2005 2006 2007 2008 2009 2010 Resolution 2002-681 Page 3 GSW Rebate 2001 TIF Rebate $9,747.24 TIF Rebate $23,796,193.55 5 Yrs.@ 100%* 2002 $10,982.28 $23,807,175.83 2003 2004 2005 Hollen Rebate 2001 TIF Rebate $1,071.87 TIF Rebate $23,808,247.70 5 Yrs.@ 100%* 2002 $4,271.14 $23,812,518.84 2003 2004 2005 Ritter Rebate 2001 TIF Rebate $2,660.86 TIF Rebate $23,815,179.70 10 Yrs @ 100%* -or- 2002 $2,837.28 $23,818,016.98 Until $20,910.00 is Paid 2003 2004 2005 2006 2007 2008 Lown Rebate#1 2001 TIF Rebate $1,418.00 TIF Rebate $23,819,434.98 5 Yrs.@ 100%* 2002 $1,694.74 2003 $23,821,129.72 2004 2005 Lown Rebate#2 2001 TIF Rebate $495.40 TIF Rebate $23,821,625.12 5 Yrs.@ 100%* 2002 $565.50 2003 $23,822,190.62 2004 2005 Roberts Rebate 2002 TIF Rebate $0 TIF Rebate 5 Yrs.@ 100%* 2003 $23,822,190.62 2004 2005 2006 Marsh Place Rebate 85%2003 TIF Rebate $0 TIF Rebate $23,822,190.62 85% 2004 85% 2005 85%2006 85% 2007 85% 2008 85%2009 75% 2010 60%2011 45% 2012 Garthoff Rebate 2003 TIF Rebate $0 TIF Rebate $23,822,190.62 5 Yrs.@ 100%* 2004 2005 2006 2007 Ament Rebate 2002 TIF Rebate $1601.89 TIF Rebate 5 Yrs.@ 100%* 2003 $23,823,792.51 2004 2005 2006 MIK Rebate 2002 TIF Rebate $6,516.00 TIF Rebate 5 Yrs.@ 100%* 2003 $23,830,308.51 2004 2005 2006 Resolution 2002-681 Page 4 Cedar Skyline 100%* 2002 TIF Rebate $0 TIF Rebate $23,830,308.51 Rebate 100%* 2003 100%* 2004 100%* 2005 100%* 2006 100%* 2007 100%* 2008 100%* 2009 100%* 2010 100%* 2011 100%* 2012 Landau Rebate 100%* 2002 TIF Rebate $0 TIF Rebate $23,830 308.51 100%* 2003 100%* 2004 100%* 2005 100%* 2006 100%* 2007 100%* 2008 100%* 2009 100%* 2010 100%* 2011 100%* 2012 Downtown Principal $362,500.00 G.O.Bonds $24,192,808.51 Redevelopment 6/01 Interest $172,127.19 G.O.Bonds $24,364,935.70 SSMID Taxes Principal $66,512.46 Contract $24,431,448.16 • - Less Debt Service, SSMID, and other Special Assessment. EXHIBIT"B" Project Designation:Downtown Waterloo Urban Renewal and Redevelopment Program Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Year Amount Received from Payments under Sec.402.12(2) Cumulative Amount Received 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 4 FY 1980 $ 216,795.08 $ 453,235.57 5 FY 1981 $ 319,027.40 $ 772,262.97 6 FY 1982 $ 385,731.14 $ 1,157,994.11 7 FY 1983 $ 476,100.00 $ 1,634,094.11 8 FY 1984 $ 534,281.00 $ 2,168,375.11 9 FY 1985 $ 582,411.43 $ 2,750,786.54 10 FY 1986 $ 773,667.04 $ 3,524,453.58 11 FY 1987 $ 829,625.00 $ 4,354,078.58 12 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 $ 7,645,309.52 15 FY 1991 $ 911,105.00 $ 8,556,414.52 16 FY 1992 $ 887,043.00 $ 9,443,457.52 17 FY 1993 $ 881,666.00 $10,325,124.52 18 FY 1994 $897,520.00 $11,222,644.52 ,Resolution 2002-681 Pa9e 5 !zaUJ E.., t 19 FY 1995 $752,642.00 $11,975,286.52 20 F '1996 $657,480.00 $12,632,766.52 21 FY 1997 $602,482.27 $13,235,248.79 22. FY 1998 $552,575.59 $13,787,824.38 23 FY 1999 $599,707.00 $14,387,531.91 24 FY 2000 $549,044.97 $14,936,576.88 25 t..FY 2001 $781,750.82 $15,718,327.70 26 FY 2002 $874,603.46 $16,592,931.16 27 ry 2003 $875,000.00* $17,467,931.16* *-Estimated PASSED AND ADOPTED this 18th day of November, 2002 . John . Roo f, Mayor • ATTEST: Nancy Ec rt, City Clerk