HomeMy WebLinkAbout2001-643-11.19.2001 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2001-643
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 Amount
Expenditure Indebtedness
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
Basic Materials(AADA)FY Principal $100,000.00 ADVANCE $716,937.39
1997 Interest 97-00 $12,000.00
$728,937.39
Interest FY 01 $3,000.00
$731,937.39
MIDPORT BLVD.RISE PHASE 1 Principal $129,945.07 G.O.Bonds $861,882.46
6/97
i
Rail Spur Improvements FY 97 Principal $116,629.00 G.O.Bonds $978,511.46
Interest $119,366.30 G.O.Bonds $1,097,877.76
Site Development FY 98 Principal $141,120.89 G.O.Bonds $1,238,998.65
MidPort Blvd.FY 98 Principal $47,137.12 G.O.Bonds $1,286,135.77
Rail Spur Improvements Principal $77,449.07 G.O.Bonds $1,363,584.84
FY 98 Interest $123,689.79 G.O.Bonds $1,487,274.63
Site Development FY 99 Principal $28,285.68 G.O.Bonds $1,515,560.31
Resolution 2001-643
Page 2
MidPort Blvd. FY 99 Principal $266,085.29 G.O.Bonds $1,781,645.60
Sanitary Sewer FY 99 Principal $793,792.01 G.O.Bonds $2,575,437.61
Interest $707,864.43 G.O.Bonds $3,283,302.04
Site Development FY 00 Principal $106,524.92 G.O.Bonds $3,389,826.96
Interest $55,651.00 $3,445,477.96
Sanitary Sewer FY 98-99 Principal $214,142,37 Advance $3,659,620.33
CB Richard Ellis Principal $210,000.00 Contract $3,869,620.33
Water Tap-WTT Principal $4,535.93 Advance $3,874,156.26
Water Tap-Adv.Heat Treat Principal $6,531.28 Advance $3,880,687.54
WTT Properties Tax Rebate TIF Rebate $29,912.18 Agreement $3,910,599.72
100%*2001
100%* 2002
100%* 2003
Clear Windows Rebate 75%04 TIF Rebate $0 Agreement $3,910,599.72
60% 2005
45% 2006
30% 2007
15% 2008
Advanced Heat Treat Rebate TIF Rebate $0 Agreement $3,910,599.72
100%* 2002
100%* 2003
100%* 2004
*-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.402.12(2) Cumulative Amount
Received
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 $190,000.00* $563,466.46*
*ESTIMATED
tResolution 2001-643
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171 PASSED AND ADOPTED this 19th day of November, 2001 .
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HiEl Joh R. Rooff, Mayor140
ATTEST:
rcNancy Ecke , City Clerk
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