HomeMy WebLinkAbout2000-631-11.20.2000 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street,
Waterloo, Iowa.
RESOLUTION NO. 2000-631
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 Source Amount Description of Accrued Amount
Issuance or Indebtedness
Expenditure incurred
MidPort Blvd. Principal $ 200,000.00 G.O. Bonds $ 262,000.00
FY 1997 Interest $ 62,000.00 G.O. Bonds
MidPort Blvd. & Principal $ 250,000.00 G.O. Bonds $ 566,000.00
Rail Improvements
FY 1998 Interest $ 54,000.00 G.O. Bonds
Storm Sewer Principal $ 332,625.00 ADVANCE $ 984,303.22
FY 1998 Interest $ 85,678.22
Sanitary Sewer Principal $ 220,000.00 ADVANCE $ 1,260,971.27
FY 1998 Interest $ 56,668.05
City of Waterloo Principal $ 270,000.00 ADVANCE $ 1,577,493.64
(AADA) FY 1997 &
1998 Interest $ 46,522.37
Basic Materials Principal $ 100,000.00 ADVANCE $ 1,722,197.64
(AADA) FY 1998
Interest $ 44,704.00
City of Cedar Principal $ 10,000.00 ADVANCE
Falls (AADA) FY $ 1,733,920.69
1998 Interest $ 1,723.05
MIDPORT BLVD. Principal $90,000.00 G.O. Bonds $ 1,864,720.39
RISE PHASE 1 6/98
Interest $40,799.70
MIDPORT SIGNS Principal $50,000.00 G.O. Bonds
6/98 $ 1,937,385.89
Interest $22,665.50
MIDPORT BLVD. Principal $300,000.00 G.O. Bonds
PHASE 2 6/99 $ 2,429,015.87
Interest $191,629.98
Waterloo Tent and Principal $4,535.93 ADVANCE
Tarp 1999 $ 2,433,551.80
Resolution 2000-631
Page 2
Water Works
Advanced Heat Principal $6,531.28 ADVANCE $2,440,083.09
Treat 1999
Water Works
C B Commercial Principal $ 40,000 ADVANCE $ 2,550,083.09
8/99
$ 70,000 ADVANCE
FY 2000
Advanced Heat Principal $ 117,000.00 TIF Tax Rebate $ 2,667,083.09
Treat Rebate
WTT Properties Principal $ 99,450.00 TIE Tax Rebate $ 2,766,533.09
L.C. Rebate
Clear Windows LLP Principal $ 35,100.00 TIF Tax Rebate $ 2,801,633.09
Rebate
EXHIBIT "B"
Project Designation: Airport Tax Increment Redevelo nt
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
Received
Amount
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 $ 140,000.00 $ 339,485.92
*ESTIMATED
PASSED AND ADOPTED this 20th day of November, 2000 .
ohn R Rooff, Mayor
ATTEST:
Le
Nancy Ec rt, City Clerk