HomeMy WebLinkAbout2001-014-01.08.2001 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2001-14
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WATERLOO, IOWA, APPROVING APPLICATION OF DEERE
& COMPANY FOR THE PURPOSE OF RECEIVING
BENEFITS UNDER 1999 IOWA CODE SECTIONS 15. 326-
15.337 AS AMENDED BY 1999 IOWA ACTS, CHAPTER
172 AND 2000 IOWA ACTS, HOUSE FILE 2540, AND
ALL ELIGIBLE BENEFITS UNDER THIS ACT THAT
BECOME EFFECTIVE AS OF JANUARY 8, 2001, FOR
THE IMPROVEMENTS IN THE CITY OF WATERLOO,
BLACK HAWK COUNTY, IOWA.
WHEREAS, the City of Waterloo, Iowa, has received a request by
Deere & company to approve and submit an application to the State
of Iowa under 1999 Iowa Code Sections 15.326-15. 337 known as the
New Jobs and Income Program, as amended by 1999 Iowa Acts, Chapter
172 and 2000 Iowa Acts, House File 2540, and all benefits under
this act that become effective as of January 8, 2001, and
WHEREAS, 1999 Iowa Code Sections 15.326-15.337 as amended by
1999 Iowa Acts, Chapter 172 and 2000 Iowa Acts, House File 2540 and
all eligible benefits under this act become effective as January 8,
2001, was established to promote economic development in the State
of Iowa, and
WHEREAS, the City Council supports activities which promote
and facilitate economic development within the City, and
WHEREAS, one of the benefits provided under the New Jobs and
Income Program is the commitment by a city to exempt from taxation
all or a portion of the actual value added by improvements to real
property directly related to new job creation by the location of an
eligible business under the program with those new jobs being
directly involved in the operations of the eligible business at
that location, and
WHEREAS, contingent upon approval by the Iowa Department of
Economic Development of Deere & Company as an eligible business and
entry into an agreement with the Iowa Department of Economic
Development pursuant to Iowa Code Section 15.330, the City of
Waterloo will allow for a ten (10) year schedule of exemption from
property taxes on the value added by improvements to the additional
new facilities as follows :
Year 1 through Year 10: a one dollar ($1 . 00) per year
exemption of actual value added by improvements from the
time the property is first assessed, at each site within
the economic development area where improvements have
been made to real property.
WHEREAS, Deere & Company estimates that this project will
involve an initial capital investment of at least $130 million, to
be made over the next five (5) years, and
WHEREAS, the City of Waterloo desires to declare the following
site as an "economic development area" subject to designation by
the Iowa Department of Economic Development as an "economic
development area" pursuant to 1999 Iowa Code Sections 15.326-15.337
as amended by 1999 Iowa Acts, Chapter 172 and 2000 Iowa Acts, House
File 2540:
Resolution No. 2001-14
Page 2
The John Deere Waterloo Works Westfield Avenue Site and
John Deere Waterloo Works Foundry are located on
approximately 290 acres of land just to the west of
downtown in the City of Waterloo, Iowa. The property
boundaries are defined by familiar landmarks as being
between Westfield Avenue on the South and River Road on
the north. Westfield Avenue and River Road curve to
intersect with each other to the east and west-end of
the property. Black Hawk Creek runs south to north
through the center of the property and is owned by the
City of Waterloo.
The John Deere Product Engineering Center is located on
approximately 796 acres of land lying both in the City
of Waterloo and the City of Cedar Falls, Iowa. The
property boundaries are defined by familiar landmarks of
Ridgeway Avenue to the south and Viking Road to the
north and by John Deere Road to the east and a parallel
boundary approximately 1 mile to the west of John Deere
Road. The John Deere Product Engineering center also
owns a small piece of property defined by familiar
landmarks of Ridgeway Avenue on the north and relocated
Highway 20 on the south and DeWitt Road on the west.
This is part of the 796 acres .
The John Deere Waterloo Works Donald Street Site is
located on approximately 1, 260 acres of land on the
northeast edge of the City of Waterloo, Iowa. The
property boundaries are defined by familiar landmarks as
North Elk Run Road on the east and a parallel boundary
to Elk Run Road approximately 2 miles to the west, and
then by Newell Street on the south and East Donald
Street on the north;
and,
WHEREAS, Deere & Company has indicated they will :
1) Provide coverage options where they will pay at
least 80 percent of the health and dental insurance
plans for full-time employees at the facility.
2) Pay a median starting wage of at least $13 . 19 per
hour.
3) Create 87 jobs within five years .
4) Offer a pension/retirement plan (401K-type) to its
full-time employees.
5) Produce high value-added metal products in the
agricultural equipment industry.
6) Have a productivity and safety improvement program
in place.
7) Will make a capital investment of more than $132
million which includes construction of a new
building of approximately 400, 000 square feet.
WHEREAS, the City of Waterloo has determined that the Deere
& Company' s starting median wage rate of at least $13. 19 combined
with higher wage rates has exceeded the intent of the 1999 Iowa
Code Sections 15.326-15. 337 as amended by 1999 Iowa Acts, Chapter
172 and 2000 Iowa Acts, House File 2540 and all eligible benefits
under this act.
Resolution No . 2001-14
Page 3
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA:
a) The following described real estate is declared to be an
economic development area:
The John Deere Waterloo Works Westfield Avenue Site and
John Deere Waterloo Works Foundry are located on
approximately 290 acres of land just to the west of
downtown in the City of Waterloo, Iowa. The property
boundaries are defined by familiar landmarks as being
between Westfield Avenue on the South and River Road on
the north. Westfield Avenue and River Road curve to
intersect with each other to the east and west-end of
the property. Black Hawk Creek runs south to north
through the center of the property and is owned by the
City of Waterloo.
The John Deere Product Engineering Center is located on
approximately 796 acres of land lying both in the City
of Waterloo and the City of Cedar Falls, Iowa. The
property boundaries are defined by familiar landmarks of
Ridgeway Avenue to the south and Viking Road to the
north and by John Deere Road to the east and a parallel
boundary approximately 1 mile to the west of John Deere
Road. The John Deere Product Engineering center also
owns a small piece of property defined by familiar
landmarks of Ridgeway Avenue on the north and relocated
Highway 20 on the south and DeWitt Road on the west.
This is part of the 796 acres.
The John Deere Waterloo Works Donald Street Site is
located on approximately 1, 260 acres of land on the
northeast edge of the City of Waterloo, Iowa. The
property boundaries are defined by familiar landmarks as
North Elk Run Road on the east and a parallel boundary
to Elk Run Road approximately 2 miles to the west, and
then by Newell Street on the south and East Donald
Street on the north.
b) That the 1999 Iowa Code Sections 15.326-15. 337 as amended by
1999 Iowa Acts, Chapter 172 and 2000 Iowa Acts, House File
2540 and all eligible benefits under this act that become
effective as of January 8, 2001 for Deere & Company be
approved.
c) That the exemption benefits described above for Deere &
Company be approved subject to the agreement and approval of
the Iowa Department of Economic Development.
PASSED AND ADOPTED this 8th day of January, 2001 .
John ff, Mayor
ATTEST:
Nancy Eckert City Clerk