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Home My WebLink About2001-642-11.19.2001 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2001-642 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 DESCRIPTION OF INDEBTEDNESS NO ISSUANCE OR SOURCE 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 I 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 1 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 $4,163,898.37 $422,256.23 G.O.Bonds West Side Parking Ramp Principal $4,725,000.00 G.O.Bonds $8,888,898.37 7/15/82 Interest $4,779,26250 G.O.Bonds $13,668,160.87 i 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 Resolution 2001-642 Page 2 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 Principal $50,000.00 G.O. Bonds $17,160,998.12 Ramp 5/85 Interest $46,539.50 G.O.Bonds $17,207,537.62 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 Paving 6/87 400 Blk E.4th Principal $360,000.00 G.O.Bonds $17,739,093.20 St 500 Bik 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 $64,759.47 G.O.Bonds Interest $18,136,986.76 Conway Plaza Phase I Principal $100,000.00 G.O. Bonds $18,236,986.76 Skywalk Refinancing 6/87 $64,759.47 G.O.Bonds Interest $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 Resolution 2001-642 Page 3 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 200o TIF Rebate $20,934.30 TIF Rebate $23,730,268.52 5yrs@100%* 2001 $21,381.91 2002 2003 2004 2005 2006 2007 Johnson Rebate#2 2002 8 Yrs.@ 100%* 2003 2004 2005 2006 2007 2008 2009 2010 GSW Rebate TIF Rebate $9,747.24 EaRebate $23,740,015.76 2001 5 Yrs.@ 100%* 2002 2003 2004 2005 Hollen Rebate 11f Rebate $1,071.87 TIF Rebate $23,741,087.63 2001 5 Yrs.@100%* 2002 2003 2004 2005 Ritter Rebate TIF Rebate $2,660.86 TIE Rebate $23,743,748.49 2001 10 Yrs @ 100%* -or- 2002 Until $20,910.00 is Paid 2003 2004 2005 2006 2007 2008 Lown Rebate#1 TIF Rebate $1,418.00 TIF Rebate $23,745,166.49 2001 Resolution 2001-642 Page 4 5 Yrs.@ 100%* 2002 2003 2004 2005 Lown Rebate#2 T1F Rebate $495.40 TIF Rebate 2001 $23,745,661.89 5 Yrs.@100%* 2002 2003 2004 2005 Roberts Rebate TIF Rebate $0 TIF Rebate $23,745,661.89 2002 5 Yrs.@ 100%* 2003 2004 2005 2006 Marsh Place Rebate 85% TIF Rebate $0 TIF Rebate $23,745,661.89 2003 85% 2004 85% 2005 85% 2006 85% 2007 85% 2008 85% 2009 75% 2010 60% 2011 45% 2012 Garthoff Rebate TIF Rebate $0 TIF Rebate $23,745,661.89 2002 5 Yrs.@ 100%* 2003 2004 2005 2006 Ament Rebate TIF Rebate $0 TIF Rebate $23,745,661.89 2002 5 Yrs.@ 100%* 2003 2004 2005 2006 Cedar Skyline 100%* TIF Rebate $0 TIF Rebate $23,745,661.89 2002 Rebate 100%* 2003 100%* 2004 100%* 2005 100%* 2006 Resolution 2001-642 Page 5 t00%* 2007 100%* 2008 100%* 2009 100%* 2010 100%* 2011 100%* 2012 Landau Rebate 100%* TIP Rebate $0 TIF Rebate $23,745,661.89 2002 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 $24,108,161.89 Redevelopment 6/01 Interest $172,127.19 G.O.Bonds $24,280,289.08 * - 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 tc=42esolution 2001-642 a{grp 6 4 E- N oC 'FY 1990 $1,104,273.00 $ 7,645,309.52 1--' 15z 1991 $ 911,105.00 $ 8,556,414.52 16 FY51992 $ 887,043.00 $ 9,443,457.52 17 1. 993 $ 881,666.00 $10,325,124.52 18 FY:1994 $897,520.00 $11,222,644.52 19 1-4 Cs C; LF'Y 1995 $752,642.00 $11,975,286.52 20 t 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 FY 2001 $781,750.82 $15,718,327.70 26 FY 2002 $779,000* $16,497,327.70* *-Estimated PASSED AND ADOPTED this 19th day of November, 2001 . John ooff, Mayo ATTEST: C/14.42-14 fj.2.4.4 Nancy Ect, City Clerk