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Home My WebLink About2000-634-11.20.2000 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2000-634 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: 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 NO ISSUANCE OR SOURCE INDEBTEDNESS CUMULATIVE AMOUNT EXPENDITURE AMOUNT INCURRED 147 W. Park Contract $ 273, 409. 61 Advance $ 273, 409. 61 Ave. Paving 91 Bridge Contract $ 573, 433.57 Advance $ 846, 843. 18 Canopy 152 Fourth Contract $ 323, 983.56 Advance $ 1, 170, 826. 74 Street Paving 28 Bridge Contract $ 14, 396. 40 Advance $ 1, 185, 223 . 14 Lighting 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 Contract $ 72, 500. 00 Advance $ 1, 425, 276. 14 Acquisition UDAG #1 7/17/80 Principal $ G.O. Bonds $ 2, 426, 903. 14 Interest 1, 001, 627 . 00 G.O. Bonds $ 2, 855, 652 . 14 $ 428, 749. 00 Phase III Study Contract $ 111, 000. 00 Advance $ 2, 966, 652 . 14 12/20/80 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 Principal $ 4, 725, 000. 00 G.O. Bonds $ 8, 888, 898 . 37 Parking Ramp Interest 7/15/82 $ 4, 779, 262 .50 G.O. $ 13, 668, 160. 87 Bonds j Resolution 2000-634 Page 2 East Side Principal $ 1, 500, 000 . 00 G.O. Bonds $ 15, 168, 160. 87 Parking Ramp Interest 8/1/83 $ 1, 073, 981 .25 G.O. Bonds $ 16, 242, 142 . 12 East Side Principal $ 350, 000. 00 G.O. Bonds $ 16, 592, 142. 12 Parking Interest Facility 8/1/84 $ 325, 777. 00 G.O. Bonds $ 16, 917, 919. 12 Conway Plaza Principal $ 100, 000. 00 G.O. Bonds $ 17, 017, 919. 12 Skywalk 8/1/84 Interest $ 93, 079. 00 G.O. Bonds $ 17, 110, 998 . 12 East Fifth St. Principal $ 50, 000. 00 G.O. Bonds $ 17, 160, 998 . 12 Parking Ramp Interest $ 46, 539.50 G.O. Bonds 5/85 $ 17, 207, 537 . 62 Tax Redeemed Contract $ 5, 004 . 49 Advance $ 17, 212, 542 . 11 Properties 5/85 Skywalk Contract $ 25, 000. 00 Advance $ 17, 237, 542 . 11 Feasibility Study 8/85 317 E. 4th Contract $ 12, 000. 00 Advance $ 17, 249, 542 . 11 Longfellow Property 12/85 East Fifth Principal $ 50, 000. 00 G.O. Bonds $ 17, 299, 542 . 11 Parking Ramp Interest $ 37, 051 . 09 G.O. Bonds 5/86 $ 17, 336, 593.20 Ellis Hotel Contract $ 15, 000. 00 Advance Demolition 8/86 $ 17, 351, 593.20 Ellis Hotel Contract $ 27, 500. 00 WIDA $ 18, 428, 746.23 Demolition 8/86 Advance Paving 6/87 400 Principal $ 360, 000. 00 G.O. Bonds $ 17, 739, 093 .20 Blk E. 4th St. Interest $ 233, 134 . 09 G.O. Bonds 500 Blk $ 17, 972, 227 .29 Lafayette East Fifth Principal $ 100, 000. 00 G.O. Bonds Parking Ramp $ 18, 072, 227 .29 6/87 Interest $ 64, 759. 47 G.O. Bonds $ 18, 136, 986. 76 Conway Plaza Principal $ 100, 000. 00 G.O. Bonds $ 18, 236, 986. 76 Phase I Skywalk $ 64, 759. 47 G.O. Bonds Interest $ 18, 301, 746.23 Refinancing 6/87 4th St. Bridge Contract $ 127, 000. 00 Advance Covered Walkway $ 18, 428, 746.23 6/88 Conway Plaza Loan $ 132, 625. 00 Advance Skywalk 7/88 & $ 18, 561, 371 .23 7/89 Resolution 2000-634 Page 3 Park Avenue Principal $ 2, 000, 000. 00 G.O. Bonds $ 21, 653, 936. 73 Parking Ramp Interest Expansion $ 1, 092, 565.50 G.O. Bonds PROPERTY Principal $ 668, 829. 00 REVOLVING $ 22, 322, 765. 73 ACQUISITION: WI INTERNATIONAL HEADQUARTERS Interest $ 216, 165. 57 LOAN FUND $ 22, 538, 931 . 30 6/98 EAST & WEST Principal $ 150, 000. 00 G.O. BONDS $ 22, 688, 931 . 30 STREET PARKING RAMPS 6/98 Interest $ 66, 999. 50 $ 22, 755, 930. 80 Roberts Tax Principal $ 5, 967 . 59 Tax Rebate $ 22, 761, 898 . 39 Rebate Hollen Tax Principal $ 16, 454 . 49 Tax Rebate $ 22, 778, 325. 88 Rebate G S W, Inc. Tax Principal $ 61, 159. 80 Tax Rebate $ 22, 839, 512 . 68 Rebate MIK Corp Tax Principal $ 34, 649. 55 Tax Rebate $ 22, 874, 162 .23 Rebate Ament Tax Principal $ 8, 920. 88 Tax Rebate $ 22, 883, 083 . 11 Rebate Garthoff Tax Principal $ 1, 039. 35 Tax Rebate $ 22, 884, 122 . 46 Rebate Main Street Tax Principal $ 50, 435. 00 Tax Rebate $ 22, 934, 557 . 46 Rebate Johnson Tax Principal $ 22, 842 .30 Tax Rebate $ 22, 957, 399. 76 Rebate Ritter Tax Principal $ 20, 910. 00 Tax Rebate $ 22, 978, 309. 76 Rebate Landau Tax Principal $ 70, 785. 00 Tax Rebate $ 23, 049, 094 . .76 Rebate Lown Tax Rebate Principal $ 9, 438 . 00 Tax Rebate $ 23, 058, 532 . 76 $ 3, 149.25 Tax Rebate $ 23, 061, 682 . 01 Marsh-Place Tax Principal $ 43, 054 . 61 Tax Rebate $ 23, 104, 7136. 62 Rebate Resolution 2000-634 Page 4 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. Cumulative Receive 402. 12 (2) Amount d 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 19 FY 1995 $ 752, 642 . 00 $ 11, 975, 286. 52 20 FY 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 $ 550, 000. 00 * $ 15, 486, 576. 88 * * - Estimated Resolution 2000-634 Page 5 PASSED AND ADOPTED this 20th day of November, 2000 . Jo n R. ooff, Mayor ATTEST: eiclutc,4 Nancy Eck t, City Clerk