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HomeMy WebLinkAbout2006-993-11/13/2006 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2006-993 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" Cumulative as of June 30,2006 Project Designation:Rath Tax Increment Redevelo went Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Date of Issuance Description of Cumulative or Expenditure Source Indebtedness Amount Amount Incurred Rath Demolition 7/12j90 Principal $475,000-001 G.O. Bonds $4,5,000. Interest $214,879.93 G.O. Bonds $689,879.93 Powers Manufacturing Expansion Princi al $150,000. G.O. Bonds 6/12/91 $839,879.93 Interest $63,222.49 G.O. Bonds $903,102. Powers Manufacturing Expansion Principal $150,000.00 G.O. Bonds $1,053,102.4 5/15/92 Interest $60,979.05 G.O. Bonds $1,114,081.4 Powers Manufacturing 6/94 Principal $300,000.00 G.O. Bonds $1,414,081.4 Interest $208,445.40 G.O. Bonds $1,622,526.8 Powers Manufacturing Princi al $50,000.00 G.O. Bonds $1,672,526.8 Improvements 6/95 Interest $22,936.281 G.O. Bonds $1,695,463.15 Administration Fees FY 97 Principal $1,068.51 G.O. Bonds $1,696,531.66 Recording Fees FY 98 Principal $1,200.00 G.O. Bonds $1,697,731.66 Demo Grant-Crystal Principal $100,000.00 G.O. Bonds $1,797,731.66 In on Advance 99-00 Interest $11,178.22 G.O. Bonds $1,808,909.88 Land Improvements 3-00 Principal $12,400.00 G.O. Bonds $1,821,309.88 Interest on $125,846.73 Interest $74,646.27 G.O. Bonds $1,895,956.15 Crystal Ice Rebate 75% Principal $96,488.74 Tax Rebate $1,992,444.89 2002* 60% 200 $77,119.20 $2,069,564.09 45% 2004 $60,475.50 $2,130,039.59 Resolution No. 2006-993 Page 2 30% 2005* $46,819.80 $2,176,859.39 15% 2006 $24,076.8 $2,200,936.26 Crystal II Fund 406 Principal $450,000.00 G.G. Bonds $2,650,936.26 Interest $252,561.30 G.O. Bonds $2,903,497.56 Crystal II Rebate 50% 2010* Principal $58,500,00 Tax Rebate $21961,997.56 50% 2011* $58,`x•00 $3,020,497.56 50% 2012* $58,500.00 $3,078,997.56 50% 2013* $58,500.00 $3,137,497.56 50% 2014* $58,500.00 $3,195,997.56 50% 2015* $58,500.00 $3,254,497.56 50% 2016* $58,500.00 $3,312,997. 50% 2017* $58,500.00 $3,371,497.56 50% 2018* $58,500.00 $3,429,997.56 50% 2019* $58,500.00 $3,488,497.56 Owers 100% 2010* Principal $38,646.42 Tax Rebate $3,527,143.98 80% 2011* $30,917.14 $3,558,061.1 60% 2012* $23,187.85 $3,581,248.9 50% 2013* $19,323.21 $3,600,572.18 50% 2014* $19,323.21 $3,619,895.39 CVRD 2010* 80%7 Principal $22,260.33 Tax Rebate $3,642,155.7 60% 2011* $19,477.79 $3,661,633.51 50% 2012* $16,695.25 $3,678,328.76 40% 2013* $13,912.71 $3,692,241.4 40% 2014* $11,130.17 $3,703,371.64 30% 2015* $11130.1, $3,714,501.81 30% 2016* $8,347.62 $3,722,849.43 20% 2017* $8,347.62 $3,731,197.05 20% 2018* $5,565.08 $3,736,762.1 20% 2019* $5,565.08 $3,742,327.21 Rath urea Redevelopment Principal $115,000.00 G.G. Bonds $3,857,327.21 Fund 411 6/01 Interest $54,605.87 G.O. Bonds $3,911,933. Rath Area Redevelopment Principal $29,183.76 G.O. Bonds $3,941,116.84 Fund 412 Interest $10,890.01 G.O. Bonds $3,952,006.85 Rath Area Redevelopment Principal $200,000.00 G.O. Bonds $4,152,006.8 Fund 413 Interest $47,887.78 G.O. Bonds $4,199,894.63 Rath Area RedevelopmentPrincipal $75,000.00 G.O. Bonds $4,274,894.63 Fund 414 Interest $32,317.50 G.O. Bonds $4,307,212.1 *estimated Exhibit"B" Cumulative as of June 30,2006 Project Designation:Rath Tax Increment Redevelopment Area Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) Amount Received from Payments under Section No. Year Received 402.12(2) Cumulative Amount I FY 1992 $0.00 $0.00 2 FY 1993 $0.001 $0 Resolution No. 2006-993 Page 3 3 FY 1994 $0.00 $0.00 4 FY 1995 $0.00 $0.0 5 FY 1996 $22,881.52 $22,881.5 6 FY 1997 $24,374.46 $47,255.98 7 FY 1998 $24,812.00 $72,067.98 8 FY 1999 $44,009.63 $116,077.61 9 FY 2000 $43,454.87 $159,532.48 10 FY 2001 $90,959.54 $250,492.02 11 FY 2002 $171,794.01 $422,286.03 12 FY 2003 $199,314.21 $621,600.24 13 FY 2004 $195,574.51 $817,174.75 14 FY 2005 $273,005.03 $1,090,179.78 15 FY 2006 $243,503.71 $1,333,683.49 16 FY2007* $360,000.00 $1,693,683.49 *estimated Exhibit"A" oW (Annual) Project Designation:Rath Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(?) No. Date of Issuance Description of Cumulative or Ex nditure Source 1� Indebtedness Amount Amount Incurred rystal H Fund 406 Principal $450,000.00 G.O. Bonds $450,000.00 Interest $252,561.30 G.O. Bonds $702,561.30 Crystal 11 Rebate 50% 2009* $58,500.00 Tax Rebate $761,061.30 50% 2010* $58,500.00 $819,561.3 50% 2011* $58,500.00 $878,061. 50% 2012* $58,500.00 $936,561. 50% 2013* $58,500.00 $995,061.30 50% 2014* $58,500.00 $1,053,561.30 50% 2015* $58,500.00 $1,112,061.3 50% 2016* $58,500.00 $1,170,561.30 50% 2017* $58,500.00 $1,229,061.30 50% 2018* $58,500.00 $1,287,561.30 50% 2019* $50,588.00 $1,338,149.30 50% 2020* $58,500.00 $1,396,649.30 Powers 100% 2009* Principal $46,800.00 Tax Rebate $1,443,449.30 80% 2010* $37,440.00 $1,480,889.30 60% 2011* $28,080.00 $1,508,969.30 11 50% 2012* $23,400.00 $1,532,369.30 50% 2013* $23,400.00 $1,555,769.30 D 80% Principal $22,464.00 Tax Rebate 2009* 0* $1,578,233.3 70% 201 $19,656.00 $1,597,889.30 60% 2011* $16,848.00 $1,614,737.30 50% 2012* $14,040.00 $1,628,777.30 40% 2013* $11,232.00 $1,640,009.3 2-solution No. 2006-993 4 � v D 77 40% 2014* $11,232.00 $1,651,241.30 30% 2015* $5,424.00 $1,656,665.30 30% 2016* $5,424.00 $1,662,089.30 20% 2017* $5,616.00 $1,667,705.3 v 20% 20181 1 $5,616.00 $1,673,321.30 J *gated PASSED AND ADOPTED this13th day of November, 2006. J - Tim Hurley, May s ATEST: d J J C� '1 H agcy Ecker CMC 0i-y Clcrk A3 Y 77 � C\ G