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Council Packet - 11/15/2021
Amended Council Agenda Council Meeting Monday,November 15, 2021 1. Item I.A.2 to be considered after the consent agenda: _ Resolution authorizing an exception to the City of Waterloo Purchasing Procedures Policy to approve the purchase of a 2022 demonstration unit Peterbilt garbage truck, in the amount of$267,925, from Elliott Equipment of Davenport, Iowa. Reason: Removed as requested by Council member Dave Boesen. 2. Item 1.A.3 to be considered after the consent agenda: _ Resolution authorizing an exception to the City of Waterloo's Purchasing Policy to approve the purchase of a hoop building from Freedom Buildings, Inc., of Belle Plaine, Iowa in the amount of$252,166.30 to be constructed at the Public Works Facility site. Reason: Removed as requested by Council member Dave Boesen. 3. Item 1.B.7 to be considered after the consent agenda: _ Motion approving the Annual Financial Report for City Streets, for the fiscal year ended June 30, 2021, and authorizing transmittal to the Iowa Department of Transportation. Reason: Removed as requested by Council member Dave Boesen. 11 Amend theagenda b.. adding the following as Item 6 under Public Hearings. Police Department FY 22 Ammunition Needs. Motion to receive and file proof of publication of notice of public hearing. HOLD HEARING-No comments on file. Motion to close hearing and receive and file oral and written comments. Resolution confirming approval of specifications, bid documents, etc., and authorizing to proceed. Motion to receive, file and instruct the City Clerk to read bids and refer to the Police Department for review. Reason: Inadvertently omitted from agenda and added as an emergency to allow Police Department to purchase ammunition, which is currently in low supply. (See bid tab on page two.) 11/15/2021 Amendment Page 2 1. 12,000 rounds of 9mm 147 grain,jacketed hollow point, Federal HST, (P9HST2) or similar. $372.90 2. 85,000 rounds of Federal American Eagle 9 mm, 147 grain, full metal jacket (AE9FP) or similar. $240.90 3. 2,000 rounds of Federal 12 gauge 2 3/4 inch shot shell, 00 Buckshot, 9 Kiesler pellet, low recoil (LEF132-00) or similar. $171.00 Police Supply, 4. 2,000 rounds of Federal 12 gauge 2 3/4 inch shot shell 1-ounce low Inc. recoil slug. (LEF127-RS) or similar. $176.00 Jeffersonville, 5. 8,000 rounds of Federal .223 caliber, 64 grain, Soft Point Tactical Rifle IN Urban. (T223L) or similar. $251.90 6. 35,000 rounds of Federal American Eagle .223 caliber, 55 grain FMJ (AE223) or similar. $214.50 7. 1,000 rounds of Hornady gmx tap heavy barrier .308 caliber, 165 grain. $0.00 8. 2,000 rounds of Hornady amx tap .308 caliber, 168 grain. $0.00 9. 1,000 rounds of Hornady Interbound Tap Barrier 308 caliber, 165 grain. $0.00 1. 12,000 rounds of 9mm 147 grain,jacketed hollow point, Federal HST, (P9HST2) or similar. $539.20 2. 85,000 rounds of Federal American Eagle 9 mm, 147 grain, full metal jacket (AE9FP) or similar. $276.00 3. 2,000 rounds of Federal 12 gauge 2 3/4 inch shot shell, 00 Buckshot, 9 pellet, low recoil (LEF 132-00) or similar. $0.00 Sunset Law 4. 2,000 rounds of Federal 12 gauge 2 3/4 inch shot shell 1-ounce low Enforcement recoil slug. (LEF 127-RS) or similar. $0.00 Acklely, IA 5. 8,000 rounds of Federal .223 caliber, 64 grain, Soft Point Tactical Rifle Urban. (T223L) or similar. $416.50 6. 35,000 rounds of Federal American Eagle .223 caliber, 55 grain FMJ (AE223) or similar. $249.00 7. 1,000 rounds of Hornady gmx tap heavy barrier .308 caliber, 165 grain. $0.00 8. 2,000 rounds of Hornady amx tap .308 caliber, 168 grain. $0.00 9. 1,000 rounds of Hornady Interbound Tap Barrier 308 caliber, 165 grain. $0.00 THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA, REGULAR SESSION TO BE HELD AT Harold E. Getty Council Chambers Monday, November 15, 2021 5:30 PM CITY OF WATERLOO GOALS 1. Support the creation of new,livable wage jobs through a balanced economic development approach of assisting existing businesses,fostering start-ups,attracting new employers and cultivating an adequate workforce. 2. Implement a Community Policing strategy that creates a safe environment in Waterloo. 3. Reduce the City's property tax levies through a responsible balance of cost reduction in City operations and increases in taxable property valuations to ensure that Waterloo is a competitive, affordable,and livable city. 4. Enhance the image of Waterloo and the City to residents and businesses inside and outside of the community. GENERAL RULES FOR PUBLIC PARTICIPATION REGULAR SESSION AGENDA A Iowa Code Chapter 21 gives the public the right to attend council meetings,but it does not require cities to allow public participation except during public hearings.The public is required to follow the rules listed in this article when speaking during any meeting of the city council. R At the presiding officer's discretion,individuals may address the presiding officer by stepping to the podium,and after recognition by the presiding officer,shall state their name,address and group affiliation,if appropriate,and speak clearly into the microphone. C. Comments shall be germane and refrain from personal,impertinent,or slanderous remarks. D. Cell phones and electronic devices shall be set to silent prior to the start of the meeting. Page 1 of 557 RULES FOR PUBLIC COMMENT SECTION OF THE AGENDA A. Individuals shall speak one (1) time on only one (1) issue for a maximum of five (5) minutes only if they have registered with the city clerk's office no later than 4:00 p.m. on the day of the council meeting. Individuals who have not registered shall not be permitted to speak during the public comment portion of the agenda. Individuals shall only speak on matters not listed on the regular session agenda for that date. Any matter presented shall be directed to the presiding officer and addressed, if necessary, after the meeting.;Individuals may call the city clerk's office at 319-291-4323 or email clerk@waterloo-ia.org. B. Council members may speak during public comment portion of the agenda after the public has finished speaking C. City staff shall not be required to provide an immediate answer to a matter presented during a council meeting unless it specifically pertains to an item on the agenda RULES FOR PUBLIC COMMENTDURING PUBLIC HEARINGS Individuals may speak during the public comment portion of a scheduled public hearing for a maximum of three (3)minutes or may submit written comments to the city clerk by 4:00 p.m. on the day of the public hearing. Groups of citizens with similar viewpoints are encouraged to select a representative to share the viewpoint of the group. RULES FOR PUBLIC COMMENT DURING AGENDA ITEMS At the discretion of the presiding officer,individuals may speak for a maximum of three(3)minutes when the council discusses agenda items. This section does not apply to businesses or parties directly involved in agenda items. Roll Call. Police Department FY 22 Ammunition Needs. Prayer or Moment of Silence Pledge of Allegiance Margaret Klein, Ward 1 Council Member Agenda, as proposed or amended. Minutes of November 1, 2021, Regular Session, as proposed. Proclamation declaring November 27, 2021 as Small Business Saturday. Proclamation declaring November 15-21, 2021 as National Apprenticeship Week. Proclamation declaring November 18, 2021 as National Injury Prevention Day. PUBLIC COMMENTS Iowa Code Chapter 21 gives the public the right to attend council meetings but it does not require cities to allow public participation except during public hearings. The City of Waterloo encourages the public to participate during the Oral Presentations by following the rules listed on the front of the agenda. 1. Consent Agenda: (The following items will be acted upon by voice vote on a single motion without separate discussion, unless someone from the council or public requests that a specific item be considered separately.) A. Resolution to approve the following: Page 2 of 557 1. Bills Payment, Finance Committee Invoice Summary Report, a copy of which is on file in the office of the City Clerk. 2. Resolution approving request of Daniel Fencl, President, of Fencl Properties, LLC, for a waiver for a concrete driveway, located at 1209 Dundee Avenue, and authorize the construction of a concrete driveway and placing a driveway or sidewalk on city right-of- way on an unimproved street. Submitted By: Jamie Knutson, PE, City Engineer 3. Resolution approving award of bid to Peterson Contractors, Inc., of Reinbeck, Iowa, in an amount not to exceed $20,657,970.92, approving the contract, bond, and certificate of insurance, in conjunction with FY 2022 11th Street and Park Avenue Bridge Replacements, Contract No. 1013, and authorizing the Mayor and City Clerk to execute said document. Submitted By:Wayne Castle, PLS, PE,Associate Engineer 4. Motion approving Final Quantity Summary in conjunction with the FY 2022 Levee Rip Rap Spraying, Contract No. 1047, and authorizing the Mayor and City Clerk to execute said document. Submitted By:Wayne Castle, PLS, PE,Associate Engineer 5. Resolution approving Completion of Project and Recommendation of Acceptance of Work, for work performed by Landmark Turf Services, LLC, of Dunkerton, Iowa, in the amount of$44,555, in conjunction with the FY 2022 Levee Rip Rap Spraying Project, Contract No. 1047, and receive and file a two-year maintenance bond. Submitted By: Jamie Knutson, PE, City Engineer 6. Resolution approving the request of Bob Moore, for tax exemptions on the construction of a new single family home valued at $144,000, for property located at 401 Devonshire Drive, and located in the City Limits Urban Revitalization Area(CLURA). Submitted By:Noel Anderson, Community Planning and Development Director 7. Resolution approving the request of Asim Mustedanagic for tax exemptions on the construction of a new single duplex unit valued at $185,000, for property located at 116 Aidin Way, and located in the City Limits Urban Revitalization Area(CLURA). Submitted By:Noel Anderson, Community Planning and Development Director 8. Resolution approving the request of Enver Alicic for tax exemptions on the construction of a new single duplex unit valued at$200,000, for property located at 118 Aidin Way, and located in the City Limits Urban Revitalization Area(CLURA). Submitted By:Noel Anderson, Community Planning and Development Director 9. Resolution approving the request of Juan Martinez for tax exemptions on the construction of a new single family home valued at $100,000, for property located at 923 Creston Avenue, and located within the Consolidated Urban Revitalization Area(CURA). Submitted By:Noel Anderson, Community Planning and Development Director 10. Resolution approving preliminary plans, specifications, form of contract, etc., setting date of bid opening as December 2, 2021 and date of public hearing as December 6, 2021, in conjunction with Asbestos Abatement Services, Contract No. AB-2021-12-04P, for properties located at 928 Mulberry Street, 1526 E. 4th Street, 114 E. 10th Street, and 105 E. 11th Street, and instruct the City Clerk to publish notice. Submitted By:Noel Anderson, Community Planning and Development Director 11. Resolution approving the City of Waterloo Annual Financial Report for the Fiscal Year ended June 30, 2021, and authorizing the publication of the report and submission to the State of Iowa. Submitted By:Michelle Weidner, Chief Financial Officer Page 3 of 557 12. Resolution authorizing an exception to the City of Waterloo Purchasing Procedures Policy to approve the purchase of a 2022 demonstration unit Peterbilt garbage truck, in the amount of$267,925, from Elliott Equipment of Davenport, Iowa. Submitted By:Randy Bennett, Public Works Division Manager 13. Resolution authorizing an exception to the City of Waterloo's Purchasing Policy to approve the purchase of a hoop building from Freedom Buildings, Inc., of Belle Plaine, Iowa in the amount of$252,166.30 to be constructed at the Public Works Facility site. Submitted By:Randy Bennett, Public Works Manager B. Motion to approve the following: 1. TRAVEL REQUESTS a. Sarah Kempen and Cameron Agan, Stormwater Specialists Class/Meeting: Erosion Control Technician Certification Destination: Online and Cedar Rapids, IA Dates: 3/21/2022 thru 3/23/2022 Amount not to exceed: $620.00 2. LIQUOR LICENSES a. Ariz, 504 Sycamore Street Class: C Liquor New Application Does not include Sunday Expiration Date: 10/7/2022 b. Chapala Mexican Restaurant, 900 LaPorte Rd. Class: C Liquor w/Outdoor Service Renewal Application Includes Sunday Expiration Date: 10/22/2022 C. Grill 924, 926 La Porte Rd. Class: C Liquor w/Outdoor Service Renewal Application Includes Sunday Expiration Date: 10/31/2022 d. HyVee Wine and Spirits#1, 2126 Kimball Avenue Class: B Wine/C Beer/E Liquor Renewal Application Includes Sunday Expiration Date: 11/14/2022 e. Kwik Star#380, 506 W. 9th Street Class: C Beer Renewal Application Includes Sunday Expiration Date: 11/18/2022 f. Locker Room Lounge, 1918 Hawthorne Avenue Class: C Liquor w/Outdoor Service Renewal Application Includes Sunday Expiration Date: 12/31/2022 g. Love's Travel Stop#702, 3301 Greyhound Dr., Ste A Class: B Wine/C Beer Page 4 of 557 Renewal Application Includes Sunday Expiration Date: 11/16/2022 h. New Star Liquor, 1625 W. 4th Street Class: B Wine/C Beer/E Liquor Renewal Application Includes Sunday Expiration Date: 12/10/2022 i. Red Lobster, 941 E. San Marnan Dr. *Ownership Update* Class: C Liquor New Application Includes Sunday Expiration Date: 7/27/2022 j. Waterloo Fraternal Order of Eagles, 202 E. 1st Street Class:A Liquor w/Outdoor Service Renewal Application Includes Sunday Expiration Date: 7/14/2022 3. APPOINTMENTS a. Tucker Cassidy Board/Commission:ADA Compliance Commission Expiration Date:November 19, 2024 Re-Appointment 4. Recommendation approving appointment of Stacy Davis to the position of Records Technician in the Police Department, effective November 29, 2021. Submitted By:Matt McGeough, Captain 5. Motion approving Change Order No. 23 with Cardinal Construction, Inc., of Waterloo, Iowa, for a net increase of $1,780, in conjunction with the Five Sullivan Brothers Convention Center Addition and Renovation Project, and authorizing the Mayor to execute said document. Submitted By:Noel Anderson, Community Planning and Development Director 6. Motion approving Change Order No. 2, in the amount of $13,200, for an increase of $13,200, for the repair of approximately 90 square feet of additional pavement on the East Passenger Terminal Apron, at the Waterloo Regional Airport, and authorizing the Mayor to execute said document. Submitted By:Keith Kaspari,Airport Director 7. Fireworks Display from the top level of the 5th Street Parking Ramp in conjunction with the Waterloo Lights the Night event, on November 27, 2021, beginning at 7:00 p.m. Submitted By:Brock Weliver, Fire Marshall 8. Bonds. 9. Motion approving the Annual Financial Report for City Streets, for the fiscal year ended June 30, 2021, and authorizing transmittal to the Iowa Department of Transportation. Submitted By:Michelle Weidner, Chief Financial Officer PUBLIC HEARINGS 2. Request by Alberta Young to vacate the public sidewalk in front of the lot located at 914 Sumner Street. Motion to receive and file proof of publication of notice of public hearing. Page 5 of 557 HOLD HEARING -No comments on file. Motion to close hearing and receive and file oral and written comments, and recommendation of approval of the Planning, Programming and Zoning Commission. Motion to receive, file, consider and pass for the first time an ordinance approving a request by Alberta Young to vacate the public sidewalk in front of the lot located at 914 Sumner Street, and authorizing the Mayor and City Clerk to execute said documents. Motion to suspend the rules. Motion to consider and pass for the second and third times and adopt the ordinance. Submitted By:Noel Anderson, Community Planning and Development Director 3. 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract for city owned lots generally acquired through Iowa Code 657A. Motion to receive and file proof of publication of notice of public hearing. HOLD HEARING -No comments on file. Motion to close hearing and receive and file oral and written comments. Resolution confirming approval of plans, specifications, form of contract, etc., and authorizing to proceed. Motion to receive, file and instruct the City Clerk to read bids. Resolution awarding bid to B & B Lawn Care, Inc., of Waterloo, Iowa in the amount of$25.48 per lot/occurrence, approving the contract and certificate of insurance in conjunction with the 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract for city owned lots generally acquired through Iowa Code 657A, and authorizing the Mayor and City Clerk to execute said documents. Submitted By:Noel Anderson,Community Planning and Development Director 4. Asbestos Abatement Services Contract AB-2021-11-01P, for a portion of the property located at 100 E 9th Street. Motion to receive and file proof of publication of notice of public hearing. HOLD HEARING -No comments on file. Motion to close hearing and receive and file oral and written comments. Resolution confirming approval of plans, specifications, form of contract, etc., and authorizing to proceed. motion to receive, file and instruct the City Clerk to read bids. Resolution awarding bid to Advanced Environmental, Inc., of Waterloo, Iowa in the amount of $14,500, in conjunction with Asbestos Abatement Services Contract AB-2021-11-01P, for a portion of the property located at 100 E 9th Street, and authorizing the Mayor and City Clerk to execute said document. Submitted By:Noel Anderson, Community Planning and Development Director 5. Sale and conveyance of property located northeast of the Leversee Road and Lake Street intersection, to Zydeco Investments, LLC, (for CPM plant), in the amount of$1,170,000, approve a Development Agreement including grant funds, option for acquisition of land, and tax rebates for fifteen years at fifty percent, and Minimum Assessment Agreement at $8,000,000, for the development of a 170,000 square foot building. Motion to receive and file proof of publication of notice of public hearing. HOLD HEARING -No Comments on File. Motion to close hearing and receive and file oral and written comments. Resolution approving the sale and conveyance of city owned property located northeast of the intersection of Leversee Road and Lake Street, in the amount of $1,170,000, to Zydeco Investments, LLC and authorizing the Mayor and City Clerk to execute necessary documents. Resolution approving a Development Agreement with Zydeco Investments, LLC, including grant funds of $1,270,000, option for acquisition of land, tax rebates for fifteen years at fifty percent, and a Minimum Assessment Agreement of$8,000,000, and authorizing the Mayor and Page 6 of 557 City Clerk to execute said document. Submitted By:Noel Anderson, Community Planning and Development Director RESOLUTIONS 6. Resolution approving construction plans for paving, sanitary sewer, and storm sewer serving the Borwig Addition, as submitted by the City of Waterloo, Sewage Treatment Agreement, DNR Form 29 (Nov 00) with the Department of Natural Resources, and final acceptance of construction plans subject to the review and acceptance by the Department of Natural Resources, and authorizing the Mayor to execute said documents. Submitted By: Jamie Knutson, PE, City Engineer 7. Resolution approving 2022 Recreation Program and SportsP lex Membership fee schedule. Submitted By: Mark Gallagher, Recreation Superintendent 8. Resolution approving the City of Waterloo Municipal Golf Rate fee schedule for the 2022 season. Submitted By: JB Bolger,Assistant Park Superintendent 9. Resolution approving a Professional Services Agreement with Ritland+Kuiper Landscape Architects, in an amount not to exceed $52,700, to complete the Gates Park Master Plan Update, and authorizing the Mayor to execute said document. Submitted By: Paul Huting, Leisure Services Director 10. Resolution approving a Van G. Miller Charitable Trust grant request application, in the amount of$15,000, to be used in conjunction with the Gates Park Master Plan. Submitted By: Paul Huting, Leisure Services Director 11. Resolution approving a request by C 10 Investments, LLC, to approve the Final Plat of Schoitz Addition, a 4-lot commercial subdivision in the "S-1" Shopping Center District and "R-3" Multiple Residence District located at 2101 Kimball Avenue. Submitted By:Noel Anderson, Community Planning and Development Director 12. Resolution directing the advertisement for sale of $14,200,000 Taxable General Obligation Bonds, Series 2022A, setting sale date as December 1, 2021, and approving electronic bidding procedures and the distribution of the Preliminary Official Statement for the sale. Submitted By: Michelle Weidner, Chief Financial Officer 13. Resolution approving regulations governing excluded waste and recycling materials, and authorizing the Mayor and City Clerk to execute said document. Submitted By: Randy Bennett, Public Works Division Manager EXECUTIVE SESSION Motion to adjourn to Executive Session 14. Discussion of strategy in matters relating to employment conditions of employees not covered by a collective bargaining agreement, pursuant to Iowa Code Section 21.9. Discussion of strategy in matters relating to employment conditions of employees not covered by a collective bargaining agreement, pursuant to Iowa Code Section 21.9. Page 7 of 557 Motion to adjourn Executive Session ADJOURNMENT Motion to adjourn. Kelley Felchle City Clerk MEETINGS 4:00 p.m. Council Work Session, Harold E. Getty Council Chambers 4:45 p.m. Housing Authority board, Harold E. Getty Council Chambers 5:10 p.m. Finance Committee, Harold E. Getty Council Chambers PUBLIC INFORMATION 1. September Community Development Board Meeting Minutes and CAPER Public Hearing Minutes 2. Communication from the Human Rights Department on the notice of the conclusion of employment for Shelly Burch, Administrative Secretary, effective October 18, 2021 with recommendation of approval of payout of$3,950.12 for unused benefits. 3. Communication from the Waterloo Police Department on the notice of the conclusion of employment for Kye Richter, Police Lieutenant, effective September 24, 2021 with recommendation of approval of payout of$9,182.55 for unused benefits. 4. Certified List for the position of Planner II for the City of Waterloo, Iowa Community Planning and Development Department, as certified by the Civil Service Commission on October 15, 2021. 5. Certified List for the position of Records Technician for the City of Waterloo, Iowa Police Department, as certified by the Civil Service Commission on October 15, 2021. 6. Certified List for the position of Police Officer Recruit for the City of Waterloo, Iowa Police Department, as certified by the Civil Service Commission on October 15, 2021. 7. Airport Board Meeting Minutes, September 22, 2021. 8. Design Review Board minutes of August 25 and September 30, 2021. Page 8 of 557 CITY OF WATERLOO Council Communication Police Department FY 22 Ammunition Needs. City Council Meeting: 11/15/2021 Prepared: 11/15/2021 ATTACHMENTS: Description Type ❑ Bid Tabulation Backup Material Police Department FY 22 Ammunition Needs.Motion to receive and file proof of publication of notice of public hearing_ HOLD HEARING -No comments on file. SUBJECT: Motion to close hearing and receive and file oral and written comments. Resolution confirming approval of specifications, bid documents, etc., and authorizing to proceed.Motion to receive, file and instruct the City Clerk to read bids and refer to the Police Department for review. Submitted by: Submitted By:Matt McGeou& Police Captain Page 9 of 557 CITY OF WATERLOO Council Communication Minutes of November 1, 2021, Regular Session, as proposed. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type ❑ Minutes of 11/1/2021 Backup Material Submitted by: Submitted By: Page 10 of 557 November 1, 2021 The Council of the City of Waterloo, Iowa, met in Regular Session at Harold E. Getty Council Chambers, Waterloo, Iowa, at 5:30 p.m., on Monday, November 1, 2021. Mayor Quentin Hart in the Chair. Roll Call: Boesen, Amos, Morrissey, Klein, Feuss, Grieder and Juon. Prayer or Moment of Silence. Pledge of Allegiance: Sharon Juon, At-Large Council Member 160604 - Juon/Feuss that the Agenda, as amended, by removing items 1.B.1.D and 1.B.4, to be considered after the consent agenda, for the Regular Session on Monday,November 1, 2021, at 5:30 p.m., be accepted and approved. Voice vote-Ayes: Seven. Motion carried. 160605 - Juon/Feuss that the Minutes, as proposed, for the Regular Session on Monday, October 18, 2021, at 5:30 p.m., be accepted and approved. Voice vote-Ayes: Seven. Motion carried. Proclamation declaring the first week of November 2021 as Women's Lung Cancer Awareness Week. PUBLIC COMMENTS Terry Stevens, 1629 Ackermant Street, explained that the city has a long way to go until equity is achieved. She stated that often diversity and other buzzwords are smoke screens that are used to state that change is being made when actions are not put into place. Back the Blue is broadening the already deep division between the caucasian and black/brown communities. Votes must be used wisely. The constant harassment of Chief Fitzgerald needs to stop. He is striving to create better department. The Back the Blue campaign is an effort to get people to support the police without question. She commented that the actions of one councilwoman are racist. Let's stop playing the game and come together for the betterment of Waterloo. Philip Oltrogge, 814 W. 2nd Street, addressed the council about the proposed changes to Ridgeway Avenue. He asked that the council not convert Ridgeway to single lane roads. Jamie Knutson, City Engineer, stated that Ridgeway is slated for resurfacing next year between Kimball and Ansborough and it will remain a four-lane road. Sherry Gable, 518 S. Fork Lane,provided an overview of how TIFs work. Noel Anderson, Community Planning and Development Director, shared comments regarding how the city utilizes TIF. Dwayne Eilers, 1205 1/2 Bishop Street, stated that all of the citizens of Waterloo are getting taxed to death so that the Mayor and others can have a big job. He stated that people are leaving Waterloo because this is not a good place to live. He stated that Landlords are being taxed to death and the only people that benefit are developers, like the people who are building the theme park. He stated that he is going to sell all of his properties and leave town after 80 years of living here. David Dryer, 3145 W. 4th Street, asked that agenda item 1.A.7 be removed from the consent agenda for further discussion. He also asked that the council meeting be limited to the people's business and not political campaigning. We need to come together and build bridges, not walls. Helen Seenster, 4040 Homer Street, shared that she is excited about all the positive things taking place in Waterloo,but she was upset by a very negative flyer that she received at her home. Mr. Boesen stated that he would like to see an independent body brought in to evaluate morale of employees in the police department and in all other departments. He shared that he would like to see two council members placed on the CIP committee because the council does not see the finished product until it comes to council. He added that he thinks it would help the CIP process as a whole. He asked that an overlay district be created out on Shaulis and Hess Road to encourage the type of businesses the city and council want to see out there. He asked that the Dysart/Shaulis intersection Page 11 of 557 November 1, 2021 Page 2 be paved and opened first to avoid a fourth construction season of being closed or partially closed. Two weeks ago he asked about the contractor who spilled sealer outside the SportsPlex and hoped that they are working to remove that as well as the materials he has sitting in the parking lot. He questioned when the last Grout Museum update occurred and asked that they come back to council and give a work session. He thanked everyone that put themselves out there to run for office. Mr. Grieder commented that tomorrow is the last day of voting and encouraged everyone to get out to vote. Mr. Morrissey requested the indulgence of Mayor and his fellow Council members to read a lengthy prepared statement. He shared that he recently participated in two webinars. One which dealt with storm water issues and the second was titled"Vision Zero."Vision Zero has been adopted in various communities around the U.S. with a goal to set sights through strategies developed by the community and the leaders of the community to have zero traffic fatalities. He hopes that the Mayor and future council will take up both of these issues. He shared that he is about 2/3rds of the way through the police chief's strategic plan and commended him on the detail, thought, and professionalism contained therein. He continued by stating that he is filing a formal complaint against Mrs. Klein in the form of a censure for her repeated inaccurate statements to the public. He read nine reasons for censuring Mrs. Klein. Mrs. Juon commented that as Mayor Pro Tem she accepts the allegations and will refer it to the City Attorney for investigation. 160606 - Juon/Grieder that the above oral comments be received and placed on file. Voice vote-Ayes: Seven. Motion carried. CONSENT AGENDA 160607 - Juon/Grieder that the following items on the consent agenda be received,placed on file and approved: a. Resolutions to approve the following: 1. Resolution approving Finance Committee Invoice Summary Report, dated October 25, 2021, in the amount of$3,284,553.80 and November 1, 2021, in the amount$1,874,334.22 a copy of which is on file in the City Clerk's office, together with recommendation of approval of the Finance Committee. Resolution adopted and upon approval by Mayor assigned No. 2021-699. 2. Motion approving Final Quantity Summary for a net decrease of$36,011.75, for Baker Enterprises, Inc., in conjunction with the FY 2020 Warp Drive R.I.S.E. Project, Contract No. 977, and authorizing the Mayor and City Clerk to execute said document. 3. Resolution approving Completion of Project and Recommendation of Acceptance of Work for work performed by Baker Enterprises, Inc., of Waverly, Iowa, in the amount of $863,037.25, in conjunction with the FY 2020 Warp Drive R.I.S.E. Project, Contract No. 977, and receive and file a two-year maintenance bond. Resolution adopted and upon approval by Mayor assigned No. 2021-700. 4. Motion approving Final Quantity Summary for a net decrease of$1,656.96, for Brock Even Construction, LLC, in conjunction with the FY 2021 Sidewalk and Trail Repair Program - Zone 1, Contract No. 1044, and authorizing the Mayor and City Clerk to execute said document. 5. Resolution approving Completion of Project and Recommendation of Acceptance of Work for work performed by Brock Even Construction, LLC, of Jesup, Iowa, in the amount of $167,129.08, in conjunction with the FY 2021 Sidewalk and Trail Repair Program - Zone 1, Contract No. 1044, and receive and file a two-year maintenance bond. Page 12 of 557 November 1, 2021 Page 3 Resolution adopted and upon approval by Mayor assigned No. 2021-701. 6. Resolution approving plans, specifications, and cost estimate, etc., setting date of bid opening as November 18, 2021 and date of public hearing as December 6, 2021, in conjunction with the Traffic Control Room Remodel project, Iowa DOT Project Number STP-U-8155(755)-- 70-07, and directing City Clerk to publish said notice. Resolution adopted and upon approval by Mayor assigned No. 2021-702. 7. Resotution setting da4e of publie hearing as November- 15, 2021, to atithor-ize the sale and eenveyanee of prepeAy loeated neAheast of the Lever-see Read and Lake Street ILLC (for-CPN4p!an4), intheamoun4o > approve a Development AgFeemefA ineluding grant ftmds, option for-ae"isition of land, and tax rebates for-fifteen years at fifty per-een4, and Miain+uffl Assessment Agr-eemeH4 at $9,000,000, fef the development of a 170,000 square foot boilding, and ins4Het City Clerk to publish,,efiev Resolution ted and upon ap �tlby,��ya,,�.,e ,a N 2021 "I"'"""I'�N^ J ""J -TTITJTg��GTC2"i"�t�'T 8. Resolution approving preliminary plans, specifications, form of contract, etc., setting date of bid opening as November 4, 2021 and date of public hearing as November 15, 2021, in conjunction with the 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract for city owned lots generally acquired through Iowa Code 657A, and instruct City Clerk to publish notice. Resolution adopted and upon approval by Mayor assigned No. 2021-703. 9. Resolution approving preliminary plans, specifications, form of contract, etc., setting date of bid opening as November 4, 2021 and date of public hearing as November 15, 2021, in conjunction with Asbestos Abatement Services Contract AB-2021-11-01P, for a portion of the property located at 100 E. 9th Street, and instruct the City Clerk to publish notice. Resolution adopted and upon approval by Mayor assigned No. 2021-704. 10. Resolution setting date of public hearing as November 15, 2021 to approve the request by Alberta Young to vacate the public sidewalk in front of the lot located at 914 Sumner Street, and instruct the City Clerk to publish notice. Resolution adopted and upon approval by Mayor assigned No. 2021-705. 11. Resolution approving request of Brian Petsche for a waiver for a concrete driveway, located at 147 Trible Road, and authorize the construction of a concrete driveway and placing a driveway or sidewalk on city right-of-way on an unimproved street. Resolution adopted and upon approval by Mayor assigned No. 2021-706. 12. Resolution approving request of Kathy Kolthoff for a waiver for a concrete driveway, located at 140 Norfolk Road, with the elimination of the sidewalk section due to inability to meet grade requirements. Resolution adopted and upon approval by Mayor assigned No. 2021-707. 13. Resolution approving request of Ronald Chihak for a waiver for a concrete driveway, located at 626 Indiana Street, and authorize the construction of a concrete driveway and placing a driveway or sidewalk on city right-of-way on an unimproved street. Resolution adopted and upon approval by Mayor assigned No. 2021-708. 14. Resolution approving specifications,bid documents, etc., setting date of bid opening as November 12, 2021 and date of public hearing as November 15, 2021, in conjunction with the Police Department FY22 Ammunition Bids, and instruct the City Clerk to publish notice. Page 13 of 557 November 1, 2021 Page 4 Resolution adopted and upon approval by Mayor assigned No. 2021-709. b. Motion to approve the following: 1 Travel Requests Name &Title of Amount Personnel Class/Meeting Destination Date(s) not to Exceed a. Jason Hernandez, Iowa Emergency Des Moines, November 11- $680.00 Medical Supervisor Medical Services Iowa 13, 2021 Association Conference b. Investigators Ehlers Advanced Interview Marion, Iowa November 15- $465.00 and Northup and Interrogation 17, 2021 c. Sgt. Erie and Officers Defensive Tactics Johnston, IA November 3, $695.00 A. Herkelman, B. Instructor Re- 2021 Herkelman and B. Certification Lippert DepaAmen4 Staff and the job of Raeiai 4 e. 20 2021 (Civilian andSwefn) Justice 2• Approved Beer, Liquor, and Wine Applications Name &Address of Business Class New or Expiration Includes Renewal Date Sunday a. Damon's Sports Bar and Grill C Liquor Renewal 10/4/2022 x 2122 Kimball Avenue b. Red Lobster C Liquor Renewal 7/27/2022 x 941 E. San Martian Drive c. Diamond Nails Spa Special Class C New 8/15/2022 2060 Sovia Drive Liquor d. LJ's Neighborhood Grill &Bar C Liquor and Renewal 11/5/2022 x 3550 Kimball Avenue Outdoor Service 3. Mayor Hart's recommendation of the following appointments: Appointee Board/Commission Expiration Date New or Re-Appointment Community Development Angela Weekley Board November 2, 2024 Re-Appointment Kyla Durant Complete Streets New Terrance Human Rights Commission November 5, 2024 Re-Appointment Hollingsworth 4. , lowa, for-a netiner-ease of$5,803, in eef��efiofi with the Five Sullivan Brothers Convention Cei#er- Addition and Renovation Pr-ejeet, and auther-izing the Mayor-to exeetAe said • 5. Motion approving Change Order No. 4 with WRH of Amana, Iowa, for a net decrease of$1,748.59, in conjunction with the FY 2020 Wastewater Treatment Plant Digester No. 3 Modifications Project, Contract No. 1021, and authorizing the Mayor to execute said document. 6. Motion approving Change Order No. 9 with Cardinal Construction,of Waterloo,Iowa,for a net decrease of $518.41, in conjunction with the Five Sullivan Brothers Convention Center Penthouse Chiller Project, and authorizing the Mayor to execute said document. Page 14 of 557 November 1, 2021 Page 5 7. Motion approving an exception to burning yard waste application by George Wyth State Park, to burn locations within the park located generally at 3659 Wyth Road, November 2021 to February 2022, weather permitting. 8. Recommendation of appointment of Logan Bemus to the position of Park Maintenance II,Crew Leader, effective November 2, 2021, subject to physical examination and drug screen. 9. Recommendation of appointment of John Dornoff to the position of Planner II in the Planning and Zoning Department effective November 2, 2021. Roll call vote-Ayes: Seven. Motion carried. 160608 - Boesen/Feuss La.7 Resolution setting date of public hearing as November 15, 2021, to authorize the sale and conveyance of property located northeast of the Leversee Road and Lake Street intersection, to Zydeco Investments, LLC (for CPM plant), in the amount of$1,170,000, approve a Development Agreement including grant funds, option for acquisition of land, and tax rebates for fifteen years at fifty percent, and Minimum Assessment Agreement at $8,000,000, for the development of a 170,000 square foot building, and instruct City Clerk to publish notice. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-710. 160609 - Boesen/Feuss Lb.Ld. Travel Requests Name & Title of Amount Personnel Class/Meeting Destination Date(s) not to Exceed Waterloo Police The Journey, The Joy Waterloo, December 8, $15,000.00 Department Staff and the Job of Racial IA 14 &20, 2021 (Civilian and Sworn) Justice Mr. Boesen commented that he did not pull this item off the agenda because he does not support diversity training. He shared that he attended the classes put on by Mr. Cicero when they were hosted in the past. He further asked if the council could attend the training as well and asked for an overview and how it is paid for. Chief Fitzgerald shared an overview of the training. Mr. Boesen questioned who to contact for training dates to sign up. Chief Fitzgerald encouraged Mr. Boesen to send an email to him and he would work out the best dates for council members to attend. Mayor Hart thanked Tom Penaluna at CBE for his help to gather donations to pay for the training. Roll call vote-Ayes: Seven. Motion carried. 160610 - Boesen/Feuss l.b.4. Motion approving Change Order No. 22 with Cardinal Construction, Inc., of Waterloo, Iowa, for a net increase of$5,803, in conjunction with the Five Sullivan Brothers Convention Center Addition and Renovation Project,and authorizing the Mayor to execute said document. Roll call vote-Ayes: Seven. Motion carried. Mr. Boesen requested an explanation of the change order as it is similar to Change Order No. 21 approved last week. Noel Anderson, Community Planning and Development Director, explained that the last change order was for the design and this change order is for the physical construction of the conduit. Page 15 of 557 November 1, 2021 Page 6 Michelle Weidner, Chief Financial Officer, clarified the differences for the signage and where each would be located. Mrs. Juon commend that there are four change orders on the agenda that are decreases. PUBLIC HEARINGS 160611 - Morrissey/Grieder that proof of publication of notice of public hearing on Asbestos Abatement Services Contract AB- 2021-11-05P for properties located at 928 Mulberry Street, 1526 E. 4th Street, 1527 E. 4th Street, 114 E. 10th Street, and 105 E. 11th Street, as published in the Waterloo Courier on October 22, 2021, be received and placed on file. Voice vote-Ayes: Seven. Motion carried. This being the time and place of public hearing, the Mayor called for written and oral comments and there were none. 160612 - Morrissey/Grieder that the hearing be closed. Voice vote-Ayes: Seven. Motion carried. 160613 - Morrissey/Grieder that "Resolution confirming approval of plans, specifications, form of contract, etc., and authorizing to proceed", be adopted. Roll-call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-711. 160614 - Morrissey/Grieder Motion to receive and file and instruct City Clerk to read bids. Estimate: $15,000 Bidder Bid Security Total Bid Amount All Star Environmental 5% $52,000 Dubuque, IA Site Services No Security $110,731 Algona, IA Abatement Specialties, LLC 5% $121,319 Cedar Rapids, IA Active Thermal Concepts 5% $191,039 Hiawatha, IA Advanced Environmental Waterloo, IA 5% $134,000 Voice vote-Ayes: Seven. Motion carried. 160615 - Morrissey/Grieder that"Resolution rejecting all bids", be adopted. Roll-call vote-Ayes: Seven. Motion carried. Noel Anderson, Community Planning and Development Director, explained that the first bidder had calculation errors, the second bidder did not have a bid bond, so the department would like to re- evaluate the project and go back out to bid. Resolution adopted and upon approval by Mayor assigned No. 2021-712. 160616 - Feuss/Grieder Page 16 of 557 November 1, 2021 Page 7 that proof of publication of notice of public hearing on Demolition Services Contract D-2021-11- 03P, for properties located at 1027 Sycamore Street, 325 W 13th Street, and 742 Grant Avenue, as published in the Waterloo Courier on October 22, 2021, be received and placed on file. Voice vote- Ayes: Seven. Motion carried. This being the time and place of public hearing, the Mayor called for written and oral comments and there were none. 160617 - Feuss/Grieder that the hearing be closed. Voice vote-Ayes: Seven. Motion carried. 160618 - Feuss/Grieder that"Resolution approving plans, specifications, forms of contract, etc., and authorizing to proceed", be adopted. Roll-call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-713. 160619 - Feuss/Grieder Motion to receive and file and instruct City Clerk to read bids. Estimate $22,000 Bidder Bid Security Bid Amount Whole Excavation LLC 5% $54,889 Hudson, IA Lehman Trucking & Excavating 5% $51,600 Waterloo, IA Voice vote-Ayes: Seven. Motion carried. 160620 - Feuss/Grieder that "awarding bid to Lehman Trucking & Excavating, Inc., of Waterloo, Iowa, in the amount of $51,600, and approving the contract and certificate of insurance in conjunction with Demolition and Site Clearance Services Contract D-2021-11-03P, for properties located at 1027 Sycamore Street, 325 W. 13th Street and 742 Grant Avenue, and authorizing the Mayor and City Clerk to execute said document",be adopted. Roll-call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-714. 160621 - Feuss/Grieder that proof of publication of notice of public hearing on FY 2022 11 th Street(BRM-CHBP-8155(770)- -NB-07)and Park Avenue Bridge(BRM-CHBP-8155(771)--NB-07)Replacements,Contract 1013, as published in the Waterloo Courier on October 22, 2021, be received and placed on file. Voice vote- Ayes: Seven. Motion carried. This being the time and place of public hearing, the Mayor called for written and oral comments and there were none. 160622 - Feuss/Grieder that the hearing be closed. Voice vote-Ayes: Seven. Motion carried. Jamie Knutson, City Engineer, provided an overview of the bidding process. RESOLUTIONS 160623 - Grieder/Feuss Page 17 of 557 November 1, 2021 Page 8 that"Resolution approving a Professional Services Agreement with Magellan Advisors, LLC, for the Design Engineering and Permitting of a Fiber-Optic network to the Home in the amount of$2,449,452, and authorizing the Mayor to execute said document", be adopted. Roll call vote-Ayes: Seven. Motion carried. Sherry Gable, 518 S. Fork Lane, questioned what the home means. Mayor Hart explained that fiber to the home means extending a fiber connection to each person's home in Waterloo. Mr. Morrissey questioned how the design work is going to be funded. He questioned why a topic covered in a work session is coming to council in the same night for a vote. Michelle Weidner, Chief Financial Officer, explained that the American Rescue Plan funds will be used to pay for the project. She clarified the reason it is on the agenda tonight for a vote is so that Magellan can continue moving forward while weather permits. Mrs. Juon commented that she is excited to see the project moving forward. Mr. Boesen commented that the public support is needed to move the project forward. Mr. Grieder stated that he is excited to vote for this resolution as this project will make Waterloo more competitive and reliable internet is critical. Mr. Feuss thanked the members of the committee that worked on this project. Mr. Morrissey commented that this is an example of what taxes pay for and that this is an investment in the community. Mayor Hart commented that this payment is not Waterloo taxpayer funded. It is paid for by the American Rescue Plan funds. Resolution adopted and upon approval by Mayor assigned No. 2021-715. 160624 - Grieder/Feuss that "Resolution approving an agreement with the Iowa Department of Transportation for an Iowa's Clean Air Attainment Program (ICAAP) Federal-aid Swap Project, in conjunction with the US 63/Logan Avenue Adaptive Traffic System from Conger Street to Donald Street,Project No. ICAAP- SWAP-8155(781) SH-07, and authorizing the Mayor and City Clerk to execute said document", be adopted. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-716. 160625 - Grieder/Feuss that"Resolution approving a Professional Service Agreement with AECOM Technical Services Inc., of Waterloo, Iowa, in an amount not to exceed $498,000, for engineering and construction services, in conjunction with the US Highway 63 South Interceptor Sewer Upgrade Phase I Project, Supplemental Agreement No. 2, and authorizing the Mayor to execute said document", be adopted. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-717. 160626 - Feuss/Grieder that "Resolution approving a request from Matthew Frost for an appeal of the Driveway Policy, prohibiting a second driveway approach on a corner lot located at 1200 Byron Avenue", be adopted. Roll call vote-Ayes: Seven. Motion carried. Matthew Frost, 1200 Byron Avenue, explained the reasons why he wanted to put the driveway in. Page 18 of 557 November 1, 2021 Page 9 Sarah Raphael, 702 Riehl Street, commented that she is the contractor that poured the concrete drive. She explained that when they arrived, there was an existing gravel driveway there, so they turned it into a concrete drive. She further explained that they were not aware until after they poured the concrete that the city had not approved two entryways onto any one property. She apologized for their error and stated they are a new company and are learning as they go. She stated they will pay to pull the appropriate permits and bring everything up to code. Mr. Feuss commented that Mr. Frost resides in his ward and though he had not had a chance to speak with Mr. Frost, he did go to the house and park and watched the traffic flow. He shared that he is in support of allowing Mr. Frost to keep the driveway. He added that he does not believe this will be precedent setting. Mr. Boesen stated that as long as permits are pulled and the work is done to code he is supports this action and added that he also does not believe it sets a precedent. Resolution adopted and upon approval by Mayor assigned No. 2021-718. 160627 - Feuss/Grieder that"Resolution authorizing assignment of rebates to LMV, LLC, in conjunction with a Development Agreement with BCS Properties, LLC, originally approved on November 13, 2017, for property generally located at and adjoining to 1866 W. Ridgeway Avenue", be adopted. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-719. 160628 - Feuss/Grieder that "Resolution approving the assignment of rebates to Cedar River Trails Apartments, LLC, in conjunction with a Development Agreement with Dolly James, LLC, originally approved on January 30, 2012, for property located at 820-914 Sycamore Street",be adopted. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-720. 160629 - Amos/Grieder that "Resolution approving a Temporary Construction Easement Agreement with BPC Properties, LLC, in the amount of $3,402.91, in conjunction with reconstruction of the Park Avenue Bridge located at 102 East Park Avenue, and authorizing the Mayor and City Clerk to execute said document",be adopted. Roll call vote-Ayes: Seven. Motion carried. Mr. Morrissey asked that Park Avenue be reconstructed at the same time as the bridge. Resolution adopted and upon approval by Mayor assigned No. 2021-721. 160630 - Amos/Grieder that "Resolution approving a request by the City of Waterloo for the Final Plat of Waterloo Air and Rail Park 2nd Addition,a 5-lot commercial/industrial subdivision located east of 2510 Leversee Road, including a storm water maintenance agreement, and authorizing the Mayor and City Clerk to execute said documents", be adopted. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-722. 160631 - Morrissey/Feuss that"Resolution approving the Main Street Iowa Program Agreement,No. G300-MSI-50 between the Iowa Economic Development Authority (IEDA), the City of Waterloo and Cedar Skyline Corporation/DBA Main Street Waterloo, for the purpose of continuing the Main Street Program in Waterloo for a period of twenty-four (24) months, ending December 31, 2023, approving a commitment to provide funding from Downtown TIF and bond funds and hotel/motel discretionary fund proceeds to the Main Street Waterloo Program, and committing to appoint a city official to Page 19 of 557 November 1, 2021 Page 10 represent the City on the Local Main Street Governing Board of Directors, and that the City and Main Street Waterloo will continue to follow the Main Street Approach as developed by Main Street America and espoused by Main Street Iowa, and authorizing the Mayor to execute said document",be adopted. Roll call vote-Ayes: Seven. Motion carried. Jessica Rucker, Main Street Waterloo Director, provided an overview of the item. Mrs. Juon questioned if this was a two-year agreement in the past. Jessica Rucker clarified that it was an 18-month agreement in the past. Mr. Grieder commended Jessica Rucker for all the work she does with Main Street Waterloo. Resolution adopted and upon approval by Mayor assigned No. 2021-723. 160632 - Morrissey/Feuss that "Resolution approving a request by the City of Waterloo for an amendment to the deed of dedication for Waterloo Air and Rail Park 1 st Addition to allow for storm water from the 1 st Addition to be collected in Waterloo Air and Rail Park 2nd Addition, and authorizing the Mayor and City Clerk to execute said document", be adopted. Roll call vote-Ayes: Seven. Motion carried. Resolution adopted and upon approval by Mayor assigned No. 2021-724. ORDINANCES 160633 - Amos/Grieder that "an ordinance amending the City of Waterloo Code of Ordinances by repealing Chapter 2, Sidewalk Construction, Inspections, and Repair, and Article A, Inspection and Repair, of Title 7, Public Ways and Property", be received,placed on file, considered and passed for the first time. Roll call vote-Ayes: Seven. Motion carried. Mr. Boesen commented that by changing the ordinance, it would change the inspection schedule, which will allow people more time to pay assessments. He commented that it would be a good change to our ordinance. Mr. Morrissey questioned if this includes allowing mud jacking. Jamie Knutson, City Engineer, stated that the ordinance does not include mud jacking. He commented that council held a work session about a year ago on mud jacking where Mr. Morrissey brought forth a resolution, but it did not go anywhere. 160634 - Amos/Grieder that rules requiring ordinances to be considered and voted for passage at two prior meetings be suspended. Roll call vote-Ayes: Seven. Motion carried. 160635 - Amos/Grieder that "an ordinance amending the City of Waterloo Code of Ordinances by repealing Chapter 2, Sidewalk Construction, Inspections, and Repair, and Article A, Inspection and Repair, of Title 7, Public Ways and Property",be considered and passed for the second and third times and adopted. Roll call vote-Ayes: Seven. Motion carried. Ordinance adopted and upon approval by Mayor assigned No. 5622. 160636 - Feuss/Grieder that "an ordinance amending the City of Waterloo Code of Ordinances by repealing Section 11, Prohibited Acts and Conditions, of Chapter 4, Litter Control, Title 4, Public Health and Safety, and enacting in lieu thereof a new Section 11,Prohibited Acts and Conditions, of Chapter 4,Litter Control, Page 20 of 557 November 1, 2021 Page 11 Title 4,Public Health and Safety",be received,placed on file, considered and passed for the first time. Roll call vote-Ayes: Seven. Motion carried. 160637 - Feuss/Grieder that rules requiring ordinances to be considered and voted for passage at two prior meetings be suspended. Roll call vote-Ayes: Seven. Motion carried. 160638 - Feuss/Grieder that "an ordinance amending the City of Waterloo Code of Ordinances by repealing Section 11, Prohibited Acts and Conditions, of Chapter 4, Litter Control, Title 4, Public Health and Safety, and enacting in lieu thereof a new Section 11,Prohibited Acts and Conditions, of Chapter 4,Litter Control, Title 4, Public Health and Safety", be considered and passed for the second and third times and adopted. Roll call vote-Ayes: Seven. Motion carried. Ordinance adopted and upon approval by Mayor assigned No. 5623. ADJOURNMENT 160639 - Feuss/Grieder that the Council adjourn at 7:31 p.m. Voice vote-Ayes: Seven. Motion carried. Kelley Felchle City Clerk Page 21 of 557 CITY OF WATERLOO Council Communication Proclamation declaring November 27, 2021 as Small Business Saturday. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type ❑ Small Business Saturday Backup Material Submitted by: Submitted By: Page 22 of 557 0 0 �] o CITY OF WATERLOO, IOWA PROCLAMATION II'HEREAS, the government of Waterloo, Iowa, celebrates our local small businesses and the contributions they make to our local economy and community; according to the United States Small Business Administration, there are 31.7 million small businesses in the United States, they represent 99.7 percent of all firms with paid employees in the United States, are responsible for 65.1 percent of net new jobs created from 2000 to 2019; and WHEREMs small businesses employ 47.1% of the employees in the private sector in the United States, 88% of U.S. consumers feel a personal commitment to support small businesses in the wake of the pandemic, and 92% of small business owners have pivoted the way they do business to stay open during the pandemic; and WHERE5, 97% of Small Business Saturday® shoppers recognize the impact they can make by shopping small, 85% of them also encouraged friends and family to do so, too; and UEREMs 56% of shoppers reported they shopped online with a small business on Small Business Saturday in 2020; and more than 50% of consumers who reported shopping small endorsed a local business on social media or shopped at a local business because of a social media recommendation; and ZZ Waterloo, Iowa supports our local businesses that create jobs, boost our local economy and preserve our communities; and u EW." o advocacy groups, as well as public and private organizations, across the country have endorsed the Saturday after Thanksgiving as Small Business Saturday. NOW, O� ' ' I, Quentin Hart, Mayor of the City of Waterloo, Iowa, do hereby proclaim November 27, 2021, as SNLAJAL $USING SATU"AY And urge the residents of our community, and communities across the country,to support small businesses and merchants on Small Business Saturday and throughout the year. IN VIIINEW 0F, I have hereunto set my hand and caused the official seal of the City of Waterloo to be affixed this 15th day of November, 2021. ATTEST: Kelley Felchle Quentin Hart City Clerk Mayor O O Page 23 of 557 CITY OF WATERLOO Council Communication Proclamation declaring November 15-21, 2021 as National Apprenticeship Week. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type ❑ National Apprenticeship Week Backup Material Submitted by: Submitted By: Page 24 of 557 0 0 crrY OF wATEnoo, iowA PROCLAMA71ION National Apprenticeship Week is celebrating its 7th anniversary of raising awareness of the vital role Registered Apprenticeships provide in creating opportunities by allowing apprentices to earn while they learn and preparing a pathway to well-paying careers in Waterloo and across the nation; and EIRE �, Registered Apprenticeship programs enable employers to develop and train their future workforce while offering career seekers affordable paths to secure high-paying jobs, and HERFAs, Waterloo recognizes the role of Registered Apprenticeship in expanding opportunities in our workforce that are inclusive of individuals who have been historically underserved, marginalized, and adversely affected by persistent poverty and inequality, thus providing a path for all qualified individuals, including women, youth, people of color, rural communities, justice-involved individuals and individuals with disabilities, to become apprentices and contribute to America's industries; and WMEREAS, Waterloo recognizes that Registered Apprenticeship, a proven and industry-driven trainimg model, provides a critical talent pipeline that can train and build up our workforce to address our nation's pressing issues such as responding to climate change, modernizing our cybersecurity response, addressing public health issues, and rebuilding our country's infrastructure. NOX(, THF�O� I, Quentin Hart, Mayor of the City of Waterloo, Iowa, do hereby proclaim November 15,2021 through November 21,2021, as NATIONAL APPRENTICESHIP AHK IN WITNEM IIIEWOF, I have hereunto set my hand and caused the official seal of the City of Waterloo to be affixed this 15th day of November, 2021. ATTEST: r Kelley Felc le Quentin Hart City Clerk Mayor O O Page 25 of 557 0 0 crrY oF WATERLoo,, i®WA PROCLAMATION WHEREAS, injuries are the leading cause of death and disability to U.S. children ages 1 to 18; and Y HERE s, the city of Waterloo is committed to creating a safe environment contributing to the safety and well-being of our children; and WHEREM, hospitals, state agencies and community organizations are committed to their crucial role in reducing injuries and deaths by promoting safe practices; and > HERE s, National Injury Prevention Day raises awareness and promotes efforts to reduce injuries among children; the City of Waterloo commends Child Care Resource and Referral and all involved in their endeavor to protect children from injury. NO'Wo THE "01W.&) I, Quentin Hart, Mayor of the City of Waterloo, Iowa, do hereby proclaim November 18,2021, as NATIONAL wiuitY PREANnoN DAY IN V1 MFM YYil �� I have hereunto set my hand and caused the official seal of the City of Waterloo to be affixed this 15'h day of November, 2021. ATTEST: T Uu� � rI Kelley Felc 4 Quentin Hart City Clerk Mayor O O Page 26 0 7 CITY OF WATERLOO Council Communication Resolution approving request of Daniel Fencl, President, of Fencl Properties, LLC, for a waiver for a concrete driveway, located at 1209 Dundee Avenue, and authorize the construction of a concrete driveway and placing a driveway or sidewalk on city right-of-way on an unimproved street. City Council Meeting: 11/15/2021 Prepared: 11/1/2021 ATTACHMENTS: Description Type ❑ DW Waiver 1209 Dundee Ave Cover Memo Resolution approving request of Daniel Fend President. of Fencl SUBJECT: Properties, LLC, for a waiver for a concrete driveway, located at 1209 Dundee Avenue, and authorize the construction of a concrete driveway and placing a driveway or sidewalk on city right-of-way on an unimproved street. Submitted by: Submitted By: Jamie Knutson, PE, City Engineer Recommend for approval by the City Engineer. This waiver is needed due to the placement of a driveway or sidewalk on Recommended Action: City right-of-way on an unimproved street. I have reviewed this request and recommend its approval subject to the following provisions. 1.Work to be performed by an approved and bonded contractor. 2.A permit is to be obtained from the office of the City Engineer prior to construction. Summary Statement: 3.All work shall be performed under the supervision of the City Engineer and at no cost to the City of Waterloo. $7.00 cash for the purpose of recording this waiver and a copy of the legal description have been provided to the City Clerk's office. Legal Descriptions: HAGERMAN PLACE LOT 3 AND 4 BLK 26 Page 27 of 557 WMVER ®ate: °�-- Honorable Mayor and City Council City ball Waterloo, IA 50703 Council Persons: hereby request a waiver to the drivew y and sidewalk specifications for the construction of a �L__ driveway or sidewalk located at concrete r asphalt) Ave- (Address) This waiver is needed because of: special surface texture to be used on the concrete approach (i.e., exposed aggregate, brick stamped pattern, paving brick). elimination of the sidewalk section due to the inability to meet the grade requirements. elimination of the sidewalk section for asphalt driveways. placement of a driveway or sidewalk on City right-of-way on an unimproved street,. Other, I agree to the following: I. To remove and replace this driveway to an official elevation at no additional expense to the City of Waterloo at such time that sidewalk is constructed. 2. To remove and replace the private driveway, as needed, to an official elevation at no additional expense to the City of Waterloo at such time that curb and gutter-is constructed. 3. To pay for any additional expenses for the replacement of any such textured driveway or sidewalk that has been removed for any City of Waterloo project. 4. To employ a bonded contractor who shall obtain a-permit from the office of the City Engineer. 6. To have the driveway constructed according to the specifications and policies of the City Engineer and under his supervision, 6. This waiver is for this property only. k Attached herewith is a payment in the amoun of seven dollars ($7.00) or the purpose of recording this agreement, Respectfully submitted, �nNl�L Jam, L� �s Printed Dame of Property Owner Stere of Property Owner Page 28 of 557 CITY OF WATERLOO Council Communication Resolution approving award of bid to Peterson Contractors, Inc., of Reinbeck, Iowa, in an amount not to exceed $20,657,970.92, approving the contract, bond, and certificate of insurance, in conjunction with FY 2022 11th Street and Park Avenue Bridge Replacements, Contract No. 1013, and authorizing the Mayor and City Clerk to execute said document. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 Resolution approving award of bid to Peterson Contractors, Inc., of Reinbeck. Iowa, in an amount not to exceed$20,657,970.92, approving the contract, SUBJECT: bond, and certificate of insurance, in conjunction with FY 2022 11th Street and Park Avenue Bridge Replacements, Contract No. 1013; and authorizing the Mayor and City Clerk to execute said document. Submitted by: Submitted By:Wayne Castle, PLS, PE,Associate Engineer IDOT opened the bids on October 20, 2021. Summary Statement: Only two bids received. PCI $20,657,970.92. United Contractors Inc. and Subsidiaries $24,353,981.82 Implementation,Accountability, and Communication: GO Bond Funds RISE Funds TIF Funds Expenditure Required/Source of SWAP Funds Funds: Waterloo Water Works Funds LOST Funds CHBP Funds Road Use Tax Funds Page 29 of 557 CITY OF WATERLOO Council Communication Motion approving Final Quantity Summary in conjunction with the FY 2022 Levee Rip Rap Spraying, Contract No. 1047, and authorizing the Mayor and City Clerk to execute said document. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 ATTACHMENTS: Description Type ❑ Cont 1047—Final Qty Summary Backup Material Motion approving Final Quantity Summary in conjunction with the FY 2022 SUBJECT: Levee Rip Rap Spraying, Contract No. 1047, and authorizing the Mayor and City Clerk to execute said document. Submitted by: Submitted By:Wayne Castle, PLS, PE,Associate Engineer There was one approved change order for$500 that increased the total cost Summary Statement: of the contract but individual items did not increase. Page 30 of 557 CITY OF WATERLOO IOWA FINAL QUANTITY ADJUSTMENT PROJECT: F.Y. 2022 LEVEE RIP RAP SPRAYING CONTRACT NO. 1047 Date Prepared: November2,2021 AMOUNT:X0.00 INCREASE TO: LANDMARK TURF SERVICES,LLC , , Contractor You are hereby ordered to make the following changes from the plans and specifications or perform the following extra work on your contract dated May 3, 2021. A. Description of change to be made or extra work to be done: Adjust construction quantities to actual construction quantities B. Reason for ordering change or extra work: As-built quantities varied for some bid items. C. Settlement for cost of work to be made as follows: Compensation already made to contractor through bid items. See attached summary. TOTAL INCREASE $0.00 BY: LANDMARK TURF_SERVICES, LLC Mayor Date CONTRACTOR BY: o Date TITLE: �� J k , t. ATTEST: City Clerk Date APPROVED: City Engineer OaW Final Qty Adjustment Contract No. 1047 Set 1 f 2 Pagel of 557 N J O Ln m � o a o c 0 0 w Q a o 0 0 0 O Il.l F-' m r- n 6 F O Ln o Ul Ln N LL a w ` j o^a nNr Ln ? m Ln o m Ln � w UJ(L u O m N Q O Uw Z A a a CD, 0 0 0 0 0 0 0 0 0 0 0 0 a p A p a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 m w M 0 0 o W i m ri o o m v o F Op m m n N 0A m m w m oo cp i o Z rn V n ry ,-i m m oo v - m N ci - � z j a F F w ni .--i oo r, rri 'T .4 ti 7 Z z U a a a 0 Ln u 41WUJ D= LU WQ F- o Cl 0 0 0 o p o 0 0 0a 0 o H N p cc O O Z Z O w o 0 o 0 0 0 0 0 0 0 0 0 0 o A a a w Y u a O Q Z F u w ri o 0 o v r: m �v o o cr �f a g O Q O O Q 1 0 V 7 m w n m m m m to m in m w 0 2 a s w w ur Q ua D O O m rn t Fn N ci m rn oo v rn m ry H m w 1 F C7 co C7 Z O y� F F ri oa rrl m r} 'd' .ti 2 w w d Q Z z Z 3 Z � Q Q cc d d d a` O U U U O U d= LL LL } N�in in- in 411, 14 in �Vv uv vi- Lu I_ z a w � LL CY ra J a W O a O O u O Q O u O O u O Z C' N I N A N N N A A N 'i H H ri 44 J Z Q' a O O O O O O O O o O O O O p r4 ri ri .4 ci .-i ri ci A ci ci R: — O 0° V O N F # L U a a F Z O u r Y Fn w +�1 tl W 7 p (J wLJ LuZ A m O > � � oCmF � � F w A Ln o w o o o U w �14W w w y J w w p O n, u O LL `^ Ln Q� Z z o v7~i Fa- 2 C) Q u w W n ? Q Q 0 F F vl Z S 7 Z (D u wF- Ogo Ana ao a o o a o FF- Jm. m m a O p Z w w A a V' Aw w a O 7 > Q 0 ri } LU u O � F LL ti Z LL oC LL m p ono � O a Z 0 a o2S w O a oc Q N o0 0o pe, w W Z m +W+�� }}N} N Z � p N = Z w O 7 7 w J U T y�j 2 l7 Q w w O= J F- w 2 = F' Z �- W �O 1` 0 0 F w O w 0 Y Y O 3: A tF Za F c w a T m O O voj a n Z N w w Z s a - 7 w or � w " w w uZ F Lw LI Z w w w W w a w w ]-- U Z a Z 7 7 7 7 7 < z 7 ac ec o= rr w w w �" u O � Ly aG of = oc w w oc sc w A a a a a a a u u a a z cy Q m A A n A a n Aw O N EX w w w w w p w 4J w o O a a o f u u u u u LL u m m u nF Z d � a p LL U m F ,-t N m f Ln io n 4o rn Q ,`ii .N-i o Z LL Page 32 of 557 CITY OF WATERLOO Council Communication Resolution approving Completion of Project and Recommendation of Acceptance of Work, for work performed by Landmark Turf Services, LLC, of Dunkerton, Iowa, in the amount of$44,555, in conjunction with the FY 2022 Levee Rip Rap Spraying Project, Contract No. 1047, and receive and file a two-year maintenance bond. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 Resolution approving Completion of Project and Recommendation of Acceptance of Work, for work performed by Landmark Turf Services, SUBJECT: LLC, of Dunkerton, Iowa, in the amount of$44,555, in conjunction with the FY 2022 Levee Rip Rap Spraying Project, Contract No. 1047, and receive and file a two-year maintenance bond. Submitted by: Submitted By: Jamie Knutson, PE, City Engineer Landmark Turf Services, LLC has completed the above referenced project in accordance with the plans and specifications. Summary Statement: Transmitted also to the Clerk's Office is the Maintenance Bond that guarantees to remedy any defects in workmanship or materials that may develop in said work within a period of two (2)years from the date of the acceptance of the work under said contract. Implementation,Accountability, and Communication: Page 33 of 557 CITY OF WATERLOO Council Communication Resolution approving the request of Bob Moore, for tax exemptions on the construction of a new single family home valued at$144,000, for property located at 401 Devonshire Drive, and located in the City Limits Urban Revitalization Area(CLURA). City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ CLURA 401 Devonshire Drive Form Backup Material ❑ CLURA 401 Devonshire Drive Map Backup Material Resolution approving the request of Bob Moore, for tax exemptions on the SUBJECT: construction of a new single family home valued at$144,000, for property located at 401 Devonshire Drive, and located in the City Limits Urban Revitalization Area(CLURA). Submitted by: Submitted By:Noel Anderson. Community Planning and Development Director Approval. Recommended Action: The Planning, Programming, and Zoning Commission staff has reviewed this Summary Statement: application and feels that the project qualifies for exemptions from taxes on the actual value added to the residential property under the City Limits Urban Revitalization Area Plan. Data/Analysis and Strategies: Strategy 3.9: Increase the promotion and utilization of the City Limits Urban Revitalization Area (CLURA)housing program. Expenditure Required/Source of None Funds: Lot 22 in"Byrnbrae Second Addition" in the City of Waterloo, Black Hawk Legal Descriptions: County, Iowa; EXCEPT Parcel"E" of Plat of Survey filed June 26, 2019 as Doc. No. 2019-19609, being a part of the Southeast Quarter of Section 33, Township 89 North, Range 13 West of the 5th P.M. Page 34 of 557 CITY LIMITS URBAN REVITALIZATION APPLICAT E C E O V E FOR PROPERTY TAX EXEMPTION FOR CONSTRUCTION OF NE OR TWO FAMILY DWELLINGS UNDER THE PROVISIONS OF THE CIT S[ AN 2 2p2? REVITALIZATION AREA PLAN ADOPTED BY THE CITY CO F THE CITY OF WATERLOO. The City Limits Urban Revitalization Area(CLURA)is a 3-year 100%property tax exemption for n two family dwellings(single family homes or duplex/twin homes only)that meet the following criteria: 1. Be located within the CLURA boundaries(a map of which can be obtained from the City of Waterloo Community Planning &Development Department.) 2. This application must be filed with City prior to the Is1 working day of February following the year when the improvements are completed to comply with the timeline of the State Code of Iowa,Section 404.4 unnumbered paragraph 2. However,a single application may be filed upon completion of an entire project requiring more than one year to construct or complete, providing prior approval has been granted by the City Council or County Board of Supervisors. Please fill out the following information for your application to be submitted to the City Council.Projects started prior to the adoption date of July 18,2011 do not qualify. NAME: SIGNATURE: ADDRESS: De,l) Vl1A Nkel TELEPHONE: t � �� r � DATE: A. What is the Address of the property being improved? . I/N D2 V 6 y_,5 1.y-C , 1),r. Std—� What is the Legal Description of the property?(May be available at County Recorder's Office on 2nd floor of the Courthouse) 13 YR.AJ ZENRAOL WoAd) 17r i o B. What was the nature of the improvement(s)?(must be single family homes or duplex/twin homes to qualify) w L, t0 -er! C. City of Waterloo Building and Inspections Department Information: �� , Permit Number: a Date permit was issued: J 1_a��dPwn Ototal permit(s)valuation: Bodo Z�ZI-eV 61 0-7& S D. What was the cost of the new construction? I ,, E. Estimated or actual date of completion of this new construction? CITY OF WATERLOO APPROVED DATED: RESOLUTION NO: DENIED BLACK HAWK COUNTYASSESSOR APPROVED DATED: T.J.Koenigsfeld DENIED Black Hawk County Assessor Note: City Council approval does not guarantee tax exemptions. The application must be reviewed and approved by the Black Hawk County Assessor's Office for criteria eligibility. Page 35 of 557 ' BYRNBRAE ST— go r• v"� y r mww . an DEVONSHIRE DR DEVONSHIRE D -•moi lot All 4 ., - w iE 6 --- " ------------- ---PRESLEY CIR-y e36of55,7 CITY OF WATERLOO Council Communication Resolution approving the request of Asim Mustedanagic for tax exemptions on the construction of a new single duplex unit valued at$185,000, for property located at 116 Aidin Way, and located in the City Limits Urban Revitalization Area(CLURA). City Council Meeting: 11/15/2021 Prepared: 11/16/2021 ATTACHMENTS: Description Type ❑ CLURA 116 Aidin Way Form Backup Material ❑ CLURA 116 Aidin Way Map Backup Material Resolution approving the request of Asim Mustedanagic for tax exemptions SUBJECT: on the construction of a new single duplex unit valued at$185,000, for property located at 116 Aidin Way and located in the City Limits Urban Revitalization Area(CLURA). Submitted by: Submitted By:Noel Anderson. Community Planning and Development Director Resolution approving the CLURA application from Asim Mustedanagic for Recommended Action: the construction of a new single duplex unit located at 116 Aidin Way, Waterloo, Iowa 50701, valued at$185,000, and authorize Mayor and City Clerk to execute said documents. The Planning, Programming, and Zoning Commission staff has reviewed this Summary Statement: application and feels that the project qualifies for exemptions from taxes on the actual value added to the residential property under the City Limits Urban Revitalization Area Plan. Data/Analysis and Strategies: CLURA Expenditure Required/Source of None Funds: Legal Descriptions: Mustedan First Addition All Lot 1, Excluding the South 84.5 Feet Page 37 of 557 For Office Use Only Date Received: _ Received by: Staff to make a fo 1 t CITY LIMITS URBAN REVITALIZATION APPLICATION APPLICATION FOR PROPERTY TAX EXEMPTION FOR CONSTRUCTION OF NEW ONE OR TWO FAMILY DWELLINGS UNDER THE PROVISIONS OF THE CITY LIMITS URBAN REVITALIZATION AREA PLAN ADOPTED BY THE CITY COUNCIL OF THE CITY OF WATERLOO. The City Limits Urban Revitalization Area(CLURA)is a 33- e�,_ax_100%property tax exemption on the actual value added for new construction one or two family dwellings(single family homes or duplex/twin homes only)that meet the following criteria: 1. Be located within the CLURA boundaries(a map of which can be obtained from the City of Waterloo Community PIanning &Development Department.) 2. This application must be filed with City prior to the 15t working day of FebruTy following the year when the improvements are completed to comply with the timeline of the State Code of Iowa,Section 404.4 unnumbered paragraph 2. However,a single application may be filed upon completion of an entire project requiring more than one year to construct or complete, providing prior approval has been granted by the City Council or County Board of Supervisors. Please fill out the following information for your application to be submitted to the City Council.Pro' ets started prior to the adoption date of July 18,20I1�1�{do not qualify: NAME: �`>I� Y"`U t '��aY1 G SIGNATURE: L 3- ADDRESS: 1c, t41 �v 1 jn, EMAIL: TELEPHONE: 3(41, aJ1-c)5- IL1 DATE: I d d a A. What is the Address of the property being improved? u, 4 GL lAn W!,\ What is the Legal Description of the property?(May be available at County Recorder's Office on 2n'floor of the Courthouse) Ucy� AcAa\ �( d Y-) � � t S �-e•e B. What was the nature of the improvement(s)?(must be single family homes or duplex/twin homes to qualify) 1 Gl 1 Ili C. City of Waterloo Building and Inspections Department Information: Permit Number: Date permit was issued: Total permit(s)valuation: D. What was the cost of the new construction? vv— E. Estimated or actual date of completion of this new construction? V C�Y� a, �G 1 �� '41m Note: City Council approval does not guarantee tax exemptions. The application must be reviewed and approved by the Black Hawk County Assessor's Office for criteria eligibility. CITY OF WATERLOO OFFICE USE ONLY APPROVED DATED: RESOLUTION NO: DENIED BLACK HAWK COUNTY ASSESSOR OFFICE USE ONLY APPROVED DATED: T.J.Koenigsfeld DENIED Black Hawk County Assessor Page 38 of 557 • ♦ !; J � � r 4f tit `T Ar- --- AIDIN WAY r i N R ► � '� a a 39 of 557 CITY OF WATERLOO Council Communication Resolution approving the request of Enver Alicic for tax exemptions on the construction of a new single duplex unit valued at$200,000, for property located at 118 Aidin Way, and located in the City Limits Urban Revitalization Area(CLURA). City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ CLURA 118 Aidin Way Form Backup Material ❑ CLURA 118 Aidin Way Map Backup Material Resolution approving the request of Enver Alicic for tax exemptions on the SUBJECT: construction of a new single duplex unit valued at$200.000, for property located at 118 Aidin Way and located in the City Limits Urban Revitalization Area(CLURA). Submitted by: Submitted By:Noel Anderson, Community Planning and Development Director Resolution approving the CLURA application from Enver Alicic for the Recommended Action: construction of a new single duplex unit located at 118 Aidin Way, Waterloo, Iowa 50701, valued at$200,000, and authorize Mayor and City Clerk to execute said documents. The Planning, Programming, and Zoning Commission staff has reviewed this Summary Statement: application and feels that the project qualifies for exemptions from taxes on the actual value added to the residential property under the City Limits Urban Revitalization Area Plan. Data/Analysis and Strategies: CLURA Expenditure Required/Source of None Funds: The South 84.5 feet of Lot 1, Mustedan First Addition, a Replat of a Legal Descriptions: Portion of Kent Dahl First Addition, City of Waterloo, Black Hawk County, Iowa. Page 40 of 557 For Office Use Only Date Received: r'r{— 1 ' -1 Received Staff to make a copy f r appli� aantL CITY LIMITS URBAN REVITALIZATION APPLICATION APPLICATION FOR PROPERTY TAX EXEMPTION FOR CONSTRUCTION OF NEW ONE OR TWO FAMILY DWELLINGS UNDER THE PROVISIONS OF THE CITY LIMITS URBAN REVITALIZATION AREA PLAN ADOPTED BY THE CITY COUNCIL OF THE CITY OF WATERLOO. The City Limits Urban Revitalization Area(CLURA)is a 3-year 100%property tax exemption on the actual value added for new construction one or two family dwellings(single family homes or duplex/twin homes only)that meet the following criteria: 1. Be located within the CLURA boundaries(a map of which can be obtained from the City of Waterloo Community Planning &Development Department.) 2. This application must be filed with City prior to the I'working day of Februaty following the year when the improvements are completed to comply with the timeline of the State Code of Iowa,Section 404.4 unnumbered paragraph 2. However,a single application may be filed upon completion of an entire project requiring more than one year to construct or complete, providing prior approval has been granted by the City Council or County Board of Supervisors. Please fill out the following information for your application to be submitted to the City Council. Projects started prior to the adoption date of July 18,2011 do not qualify. NAME: Enver Alicic SIGNATURE: 1� '`Q�"� ADDRESS: 118 Aidin Way,Waterloo IA 50701 TELEPHONE: 318.504-8422 DATE: 10/29/20201 A. What is the Address of the property being improved? 118 Aidin Way,Waterloo IA 50701 What is the Legal Description of the property?(May be available at County Recorder's Office on 2nd floor of the Courthouse) MUSTEDAN FIRST ADDITION LOT 18 84.5FTTHEREOF PARCEL ID:881308151120 B. What was the nature of the improvement(s)?(must be single family homes or duplex/twin homes to qualify) New construction twin home C. City of Waterloo Building and Inspections Department Information:3/— Permit Number: WA 05583 Date permit was issued: _ r / Total permits)valuation: 104,500 D. What was the cost of the new construction? 200,000 E. Estimated or actual date of completion of this new construction? 0912021 Note: City Council approval does not guarantee tax exemptions. The application must be reviewed and approved by the Black Hawk County Assessor's Office for criteria eligibility. CITY OF WATERLOO OFFICE USE ONLY APPROVED DATED: RESOLUTION NO: DENIED BLACK HAWK COUNTY ASSESSOR OFFICE USE ONLY APPROVED DATED: T.J.Koenigsfeld DENIED Black Hawk County Assessor Page 41 of 557 uyG 1 V E I part of the Property; (Iii)conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to,the value and/or condition of the Property. (M) "Mortgage Insurance" means Insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (1) principal and interest under the Note, plus(ii)any amounts under Section 3 of this Security Instrument. (0) "RESPA"' means the Rea[ Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its Implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used In this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor In Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (1) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to Lender, with power of sale, the following described property located in the COUNTY of Black Hawk: The South 84.5 feet of Lot 1, Mustedan first Addition, a Repiat of a Portion of Kenn Dahl First Addition, City of Waterloo, Black Hawk County, Iowa. which currently has the address of 118 Aldin Way, Waterloo, Iowa, 50701 ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right-to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the k 6 7 9 2 3 ** * M C M9 O R T P O T IOWA--Single Family—Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Fornt 30161/01(page 3 of 14 pages; Mortgage cadence Document Center ® 3016 02119 i 1 i j Page 42 of 557 • ♦ !; 4f J � tit .�` 44�S � _ r Ar Moab- --- AiblN WAY. '* O A w4Tf1ST �, l• z A NOMINEE 1 , N R s = 7 a e 48 of 557 CITY OF WATERLOO Council Communication Resolution approving the request of Juan Martinez for tax exemptions on the construction of a new single family home valued at$100,000, for property located at 923 Creston Avenue, and located within the Consolidated Urban Revitalization Area(CURA). City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ CURA 923 Creston Avenue Form Backup Material ❑ CURA 923 Creston Avenue Map Backup Material Resolution approving the request of Juan Martinez for tax exemptions on the SUBJECT: construction of a new single family home valued at$100,000, for propertX located at 923 Creston Avenue, and located within the Consolidated Urban Revitalization Area(CURA). Submitted by: Submitted By:Noel Anderson, Community Planning and Development Director Recommended Action: Approval The Planning, Programming, and Zoning Commission staff has reviewed this Summary Statement: application and feels that the project qualifies for exemptions from taxes on the actual value added to Residential property under the Consolidated Urban Revitalization Area(CURA). Strategy 3.8: Continue efforts to foster new investments and development in Data/Analysis and Strategies: the City's Urban Renewal Areas (TIF Districts) and Consolidated Urban Revitalization Area(CURA). Expenditure Required/Source of None Funds: Legal Descriptions: Lot 43, Behm Addition, in the City of Waterloo, Black Hawk County, Iowa Page 44 of 557 i For Office UseOnly Date Received: Received by: , StafPto makeac yforapplicant CONSOLIDATED URBAN REVITALIZATION AREA APPLICATION FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS UNDER THE PROVISIONS OF THE CONSOLIDAI'ED URBAN REVITALIZATION AREA PLAN ADOPTED BY THE CITY COUNCIL OF THE CITY OF WATERLOO. The Consolidated Urban Revitalization Area(CUBA)allows property tax exemptions on improvements to property located within its boundaries that meet the following criteria: 1. At least a 10%improvement to the value of the residential property. At least a 15%improvement to the value of commercial property if a building was previously on the site. 11-commercial property was previously vacant,all actual value added by the improvements is eligible for tax exemption, 2. Be located within the CURA boundaries(a map of which can be obtained from the City of Waterloo Corn mtnity Planning& Development Department.) 3. This application must be filed with City prior to the 1I working day of February following the year when the improvements are completed to comply with the timeline of the State Code of Iowa,Section 404.4 unnumbered paragraph 2. However,a single application may be filed upon completion of an entire project requiring more than one year to construct or complete, providing prior approval has been granted by the City Council or County Board of Supervisors. Please fill out the following information for your application to be submitted to the City Council. NANIE: d On M01r 'ine,z SIGNATURE �' � `t JNveENTAIL: ycsko-c�.�u ''� TELEPHONE: �j l - l— 7 ] DATE: 10 `b A. What is the Address of the property being improved? Y-1 U`1 �P,YtDO What is the Legal Description of the operty?(May be available at County Recorder's Office on 2"floor of the E�qurth use , fl + �j , . �► h Wl � ��-b►�1 tin �� atC1i-1IEI(J t LL B. Indicate desired exemption schedule:(1 or 2) 1. One Hundred Percent(100%)exemption for three years on the actual value added by improvements; 2. A partial exemption on the actual value added by improvements according to the following schedule: a. First Year----------80% d. Fourth Year-------50% g. Seven€h Year------30% b. Second Year------70% e. Fifth Year---------40% h. Eighth Year--------30% c. Third Year---------60% f Sixth Year---------40% i. Ninth Year---------20% j. 'tenth Year---------20% C. What was the nature of the ir,[mpprovye�mnent(mss)?p D. if this is not a single-family dwelling unit,which you own and reside in,will these improvements create a displacement of your tenants? Yes IV No DO NOT Write Below this line—Office Use Only E. City of Waterloo Building and lns ections Department Information: _ Permit Number: �Io.� Date permit was issued: ��� !r � Total permits)valuation �V F. What was the cost of the improvement? Q G. Estimated or actual date of completion of these improvements? Q � Note: The improvements to your home or business may not change the assessed value. Note: City Council approval does not guarantee tax exemptions. The application must be.reviewed and approved by the Black Hawk County Assessor's Office for criteria eligibility. CITY OF WATERLOO OFFICE USE ONLY APPROVED DATED: RESOLUTION NO: DENIED BLACK HAWK COUNTY ASSESSOR OFFICE USE ONLY APPROVED DATED: T.J.Koenigsfeld DENIED Black Hawk County Assessor Page 45 of 557 ---------ARCHERAVE G ry � i Sf Q w U �s i } j r IL i - Mic- 3 _ - - - -- �- COTTAGEGROVE AVE — t �y r F Ik L �y ri � r 46 �- 7� CITY OF WATERLOO Council Communication Resolution approving preliminary plans, specifications, form of contract, etc., setting date of bid opening as December 2, 2021 and date of public hearing as December 6, 2021, in conjunction with Asbestos Abatement Services, Contract No. AB-2021-12-04P, for properties located at 928 Mulberry Street, 1526 E. 4th Street, 114 E. 10th Street, and 105 E. 11th Street, and instruct the City Clerk to publish notice. City Council Meeting: 11/15/2021 Prepared: 11/8/2021 ATTACHMENTS: Description Type ❑ RFB Asbestos Abatement Services Contract AB-2021- Backup Material 12-04P ❑ Exhibit B Surveys Backup Material ❑ Exhibit C draft Contract Backup Material Resolution approving preliminary_plans, specifications, form of contract, etc., setting date of bid opening as December 2, 2021 and date of public SUBJECT: hearing as December 6, 2021, in conjunction with Asbestos Abatement Services, Contract No. AB-2021-12-04P, for properties located at 928 Mulberry Street, 1526 E. 4th Street, 114 E. 10th Street, and 105 E. 11th Street, and instruct the City Clerk to publish notice. Submitted by: Submitted By:Noel Anderson, Community Planning and Development Director Recommended Action: Approval Summary Statement: The above mentioned properties were primarily acquired through Iowa Code 657A, and are being abated of asbestos in preparation of demolition. Data/Analysis and Strategies: Nuisance Abatement and Economic Development, policy 1, 3 and 4. Implementation,Accountability, Nuisance bonds and Communication: Expenditure Required/Source of Unknown/Nuisance Abatement bonds Funds: Page 47 of 557 CITY OF WATERLOO , IOWA Request for Bid ASBESTOS ABATEMENT SERVICES November 2021 RFB Asbestos Abatement Services Contract AB-2021-12-04P 928 Mulberry Street, 1526 E 4' Street, 114 E 10t" Street, and 105 E 11' Street City of Waterloo, Iowa Prepared by the City of Waterloo Planning and Zoning Department Page 48 of 557 SECTION I NOTICE OF REQUEST FOR PROPOSALS 1.0 Receipt and Opening of Bid The City of Waterloo is seeking sealed bids for asbestos abatement services Contract AB- 2021-12-04P —928 Mulberry Street, 1526 E 4th Street, 114 E 10th Street, and 105 E 11th Street. All bids must be received in a sealed envelope in the City Clerk's Office, Waterloo City Hall, 715 Mulberry Street, Waterloo, IA 50703 (date and time stamped) by Thursday December 2, 2021 at 1:00 p.m. (our clock), Central Time, in order to be considered. City Hall is located at 715 Mulberry Street, Waterloo, Iowa. Bids sent electronically or via facsimile will not be accepted. The mailing container should be marked as noted below, and include the name of the company submitting the bid. 1.1 RFB Timeline Name of the Bid: Asbestos Abatement Services Contract AB-2021-12-04P Notice of RFB Date: November 9, 2021 Mandatory Walk Thru Date: There will not be a mandatory walk thru Deadline for Bid Submittal: Thursday December 2, 2021 at 1:00 p.m., Central Time Submit Sealed Bid to: Address exactly as stated: SEALED RFB FOR ASBESTOS ABATEMENT SERVICES CONTRACT AB-2021-12-04P City of Waterloo City Clerk's Office 715 Mulberry Street Waterloo, IA 50703 Method of Submittal: Mail or Overnight Delivery, In Person (No Electronic or Fax Submittals) Contact Person, Title: Aric Schroeder, City Planner/Project Manager (City's Representative) E-mail Address: aric.schroeder(a�waterloo-ia.org Phone: Phone: 319-291-4366 1.2 The City reserves the right to accept or reject any or all proposals and to waive any informalities or irregularities in proposals if such waiver does not substantially change the offer or provide a competitive advantage to any Bidder. The City reserves the right to defer acceptance of any bid for a period not to exceed sixty (60) calendar days from the date of the deadline for receiving bids. 1.3 The City is not responsible for delays occasioned by the U.S. Postal Service, the internal mail delivery system of the City, or any other means of delivery employed by the Proposer. Similarly, the City is not responsible for, and will not open, any proposal responses that are received later than the date and time stated above. Late proposals will be retained in the RFB file, unopened. No responsibility will be attached to any person for premature opening of a proposal not properly identified. RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 EP6& 49 of 557 Page 2 of 9 1.4 Bids will be opened on Thursday December 2, 2021, at 1:00 pm (our clock) Central Time in the second floor Council Chambers and will be streamed live on the City of Waterloo's YouTube Cannel. The main purpose of this opening is to reveal the name(s) of the Bidder(s), not to serve as a forum for determining the award. The awarding of the contract is anticipated to be at the City Council meeting on Monday December 6, 2021 at 5:30 p.m. Proposals will be evaluated promptly after opening. After an award is made, a proposal summary will be sent to all companies who submitted a proposal. Proposal results will not be given over the telephone. Proposals may be withdrawn anytime prior to the scheduled closing time for receipt of proposals; no proposal may be modified or withdrawn for a period of sixty (60) calendar days thereafter. SECTION II INSTRUCTIONS TO PROPOSERS 2.0 The Bid shall include the attached Exhibit "A" signature page, properly completed. A company representative who is authorized to bind the company will sign on behalf of the company to indicate to the City that you have read all provisions of the RFB and agree to all terms and conditions, except as provided in paragraph 2.4 below. The City of Waterloo reserves the right to reject any or all bids, and to accept in whole or in part, the bid, which, in the judgment of the proposal evaluators, is the most responsive and responsible bid. 2.1 General Liability Insurance with limits of liability of at least $1,000,000 per occurrence for Bodily Injury and Property Damage. At a minimum, coverage for Premises, Operations, Products and Completed Operations shall be included. This coverage shall protect the public or any person from injury or property damages sustained by reason of the contractor or its employees carrying out their work. The Contractor shall provide certificate of insurance having the City of Waterloo as additional insured. 2.2 A bid guarantee from each Bidder equivalent to five percent (5%) of the bid price is required. The bid guarantee shall consist of a firm commitment, such as a bid bond, certified check, or other negotiable instrument acceptable to the City, as assurance that the Bidder will, upon acceptance of its bid, execute such contractual documents as may be required within the time specified. 2.3 This Request for Bid does not commit the City to make an award, nor will the City pay any costs incurred in the preparation and submission of bids, or costs incurred in making necessary studies for the preparation of bids. 2.4 Important Exceptions to Contract Documents - The Bidder shall clearly state in the submitted bid any exceptions to, or deviations from, the minimum bid requirements, and any exceptions to the terms and conditions of this RFB. Such exceptions or deviations will be considered in evaluating the bids. Any exceptions should be noted on the Signature Page. Companies are cautioned that exceptions taken to this RFB may cause their bid to be rejected. No additional exceptions shall be allowed after submittal of a bid. 2.5 Incomplete Information - Failure to complete or provide any of the information requested in this RFB, and/or additional information as indicated, may result in disqualification by reason of "non responsiveness". RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 EP6& 50 of 557 Page 3 of 9 SECTION III SPECIAL TERMS AND CONDITIONS 3.0 Term of Contract 3.0.1 The initial term of the Contract shall be for approximately three (3) months beginning December 6, 2021, to February 28, 2022. 3.0.2 The City and the Contractor may renew the original Contract for one (1)week time periods by mutual agreement. Two (2) week's notice must be given to renew the Contract for additional increments. 3.0.3 A Contract, approved by the City Council and signed by the Mayor, shall become the document that authorizes the Contract to begin, assuming the insurance and bond requirements have been met. Each section contained herein, any addenda and the response (Bid) from the successful bidder, and all exhibits to the RFB shall also be incorporated by reference into the resulting Contract. 3.0.4 No price escalation will be allowed during the initial term of the Contract. If it is mutually decided to renew beyond the initial period and the Contractor requests a price increase, the Contractor shall provide documentation on the requested increase. The City reserves the right to accept or reject price increases, to negotiate more favorable terms, or to terminate (or allow to expire) without cost, the future performance of the Contract. 3.0.5 The total actual expenses shall not exceed the amount allowed by the project Contract, including any renewal extensions thereof, unless amended by written agreement. 3.1 Agreement Forms 3.1.1 After award, the Bidder will be required to enter into a written contract with the City that is substantially in the form attached hereto as Exhibit "C". 3.1.2. Termination for Cause. In the event that Contractor defaults in the performance or observance of any covenant, agreement or obligation set forth in the Contract, and if such default remains uncured for a period of seven (7) days after notice thereof shall have been given by City to Contractor(or for a period of fourteen (14) days after such notice if such default is curable but requires acts to be done or conditions to be remedied which, by their nature, cannot be done or remedied within such 14-day period and thereafter Contractor fails to diligently and continuously prosecute the same to completion within such 14-day period), then City may declare that Contractor is in default under the Contract. 3.1.3 Termination for Convenience. The Contract may be terminated at any time, in whole or in part, upon the mutual written agreement of the parties. City may also choose to terminate the Contract at any time by delivering to Contractor 10-days' advance written notice of intent to terminate. 3.1.4 Remedies. If Contractor is in default of the Contract and has not cured said default as set forth in Section 3.1.2 above, the City may take any one or more of the following steps, at its option: 3.1.4.1 by mandamus or other suit, action or proceeding at law or in equity, require Contractor to perform its obligations and covenants under the Contract, or enjoin any acts or things which may be unlawful or in violation of the rights of the City under the Contract, or obtain damages caused to the City by any such default; 3.1.4.2 have access to and inspect, examine and make copies of all books and records of Contractor which pertain to the project; 3.1.4.3 declare a default of the Contract, make no further disbursements, and demand immediate repayment from Contractor of any funds previously disbursed under the Contract; RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 Ella& 51 of 557 Page 4 of 9 3.1.4.4 terminate the Contract by delivering to Contractor a written notice of termination; and/or 3.1.4.5 take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor under the Contract, including but not limited to the recovery of funds. 3.1.4.6 No delay in enforcing the provisions hereof as to any breach or violation shall impair, damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suit or other enforcement action under the Contract, Contractor agrees to pay the reasonable attorneys'fees and expenses incurred by City. 3.2 Terms of Payment 3.2.1 Invoices for services authorized under this Contract shall be submitted as "lump sum" after services are delivered and accepted, although the city may, at the city's sole option, provide partial payment for partial work completed. 3.2.2 For accounting purposes, all invoices shall contain a sufficient level of detail regarding all services provided and allowable expenses incurred, and submitted to the City with supporting documentation by e-mail or US mail to: Attn: City of Waterloo Planning and Zoning Department, 715 Mulberry Street, Waterloo, IA 50703. 3.2.3 City has the right, at its discretion, to deny payment for any work by any Contractor if the total actual expenses exceed the amount allowed by the project Contract, including any renewal extensions thereof. The Contractor is not obligated to continue performance of services under this Agreement or otherwise incur costs in excess of the total actual expense allowed unless an amendment to the Contract is approved, and the City notifies the Contractor, in a written amendment, of the City's acceptance of the revised total actual expense allowed. 3.2.4 All work is to be done in strict compliance with this RFB. The City may withhold payment for reasons including, but not limited to, the following: unsatisfactory job performance or progress, defective work, disputed work, failure to comply with material provisions of the Contract, third party claims filed or reasonable evidence that a claim will be filed or other reasonable cause. SECTION IV SERVICE REQUIREMENTS 4.0 Background The City of Waterloo, Iowa, is seeking proposals for asbestos abatement services for: 928 Mulberry Street, 1526 E 4th Street, 114 E 10th Street, and 105 E 11th Street. 4.1 Scope of Work The City of Waterloo is seeking a qualified asbestos abatement contractor to remove asbestos containing material (ACM). Bidder shall be responsible to familiarize itself with the specifications included in this RFB and to make a personal examination of the job site(s) and the physical conditions that may affect its bidding and performance under the Contract. The services to be performed under this Contract shall consist of the following: 4.1.1 All services must be performed in accordance with all applicable codes and ordinances of the City of Waterloo, Iowa, accepted professional standards and best practices, as well as all applicable Federal and State regulations, including but not limited to RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 EP6& 52 of 557 Page 5 of 9 asbestos Statutes and Rules (published by the Iowa Division of Labor), 40 CFR Part 61, National Emissions Standards for Hazardous Air Pollutants (NESHAP), as well as applicable State regulations of the Iowa Department of Natural Resources. The Contractor shall hold and maintain an asbestos permit issued by the Iowa Division of Labor, and all personnel who perform work on the Project shall hold and maintain an Iowa asbestos license issued by the Iowa Division of Labor. 4.1.2 Remove ACM as identified in the asbestos surveys included as Exhibit "B". 4.1.3 Document amounts of ACM removed from each structure. 4.1.4 Document ACM disposal at the Black Hawk County landfill through the use of landfill tickets and provide copies to the project manager. 4.1.5 At the request of the City given with reasonable advance notice, attend meetings of the City relative to the work set forth in this Agreement. 4.1.6 Provide other services as requested by the City as may be necessary to implement the asbestos abatement project. 4.2 Silence of Specifications— Commercially accepted practices shall apply to any detail not covered in this specification and to any omission of this specification. Any omission or question of interpretation of the specification that affects the performance or integrity of the service being offered shall be addressed in writing and submitted with the Proposal. 4.3 Due to project requirements, the contractor that conducted asbestos surveys is not eligible to perform asbestos abatement on the same properties, and therefore is not eligible to bid on this RFB. 4.4 The Contractor shall complete the Project in an expeditious manner and shall commence work within ten (10) days after being notified by the City with a Notice to Proceed on any given property or properties. All work shall be completed and necessary reports and documentation provided within the Contract Term (anticipated to be February 28). If Contractor is prevented from timely completing the work because of circumstances beyond the Contractor's reasonable control as determined by the City, the time for completion of the work will be tolled for a period of time equivalent to the stoppage resulting from such circumstances. The Contractor does hereby expressly acknowledge and agree that time is of the essence of this Contract, and, thus, failure by the Contractor to timely render and perform services hereunder shall constitute a material breach of the Contract. SECTION V GENERAL TERMS AND CONDITIONS 1. LANGUAGE,WORDS USED INTERCHANGEABLY- deemed irresponsible or unreliable by the City. If The word CITY refers to the CITY OF WATERLOO, requested, Proposers shall be required to submit IOWA throughout these Instructions and Terms and satisfactory evidence that they have a practical Conditions. Similarly, PROPOSER refers to the person knowledge of the particular supply/service proposal and or company submitting an offer to sell its goods or that they have the necessary financial resources to services to the CITY, and CONTRACTOR refers to the provide the proposed supply/service as described in this successful bidder. Request for Proposal. 2. PROPOSER QUALIFICATIONS - No Proposal shall be 3. SPECIFICATION DEVIATIONS BY THE PROPOSER/ accepted from, and no Contract will be awarded to, any OFFEROR-Any deviation from this specification MUST person, firm or corporation that is in arrears to the City be noted in detail, and submitted in writing in the upon debt or Contract, that is a defaulter, as surety or Proposal. Completed specifications should be attached otherwise, upon any obligation to the City, or that is for any substitutions offered, or when amplifications are RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 EP6& 53 Of 557 Page 6 of 9 desirable or necessary.The absence of the specification weekends and holidays) prior to the time set for the deviation statement and accompanying specifications Proposal opening. Any and all such interpretations or will hold the Proposer strictly accountable to the modifications will be in the form of written addenda. All specifications as written herein. Failure to submit this addenda shall become part of the Contract documents document of specification deviation, if applicable, shall and shall be acknowledged and dated on the signature be grounds for rejection of the item when offered for page. delivery. If specifications or descriptive papers are submitted with Proposals, the Proposer's name should 12. LAWS AND REGULATIONS - All applicable State of be clearly shown on each document. Iowa and federal laws, ordinances, licenses and regulations of a governmental body having jurisdiction 4. COLLUSIVE PROPOSAL - The Proposer certifies that shall apply to the award throughout as the case may be, the proposal submitted by said Proposer is done so and are incorporated here by reference. without any previous understanding, agreement or connection with any person, firm, or corporation making 13. SUBCONTRACTING - No portion of this Proposal may a proposal for the same Contract, without prior be subcontracted without the prior written approval by knowledge of competitive prices, and it is, in all the City. respects, fair, without outside control, collusion, fraud or otherwise illegal action. 14. ELECTRONIC SUBMITTAL - Telegraphic and/or proposal offers sent by electronic devices (e.g.facsimile 5. SPECIFICATION CHANGES, ADDITIONS AND machines) are not acceptable and will be rejected upon DELETIONS -All changes in Proposal documents shall receipt. Proposing firms will be expected to allow be through written addendum. Verbal information adequate time for delivery of their proposal either by obtained otherwise will NOT be considered in awarding airfreight, postal service,or other means. of Proposals. 15. CANCELLATION-Either party may cancel the award in 6. PROPOSAL CHANGES - Proposals, amendments the event that a petition, either voluntary or involuntary, thereto, or withdrawal requests received after the time is filed to declare the other party bankrupt or insolvent or advertised for Proposal opening, will be void regardless in the event that such party makes an assignment for of when they were mailed. the benefit of creditors. 7. HOLD HARMLESS AGREEMENT - The Contractor 16. ASSIGNMENT- Proposer shall not assign this order or agrees to protect, defend, indemnify and hold harmless any monies to become due hereunder without the prior the City of Waterloo, its officers and employees, their written consent of the City. Any assignment or attempt agencies and agents, from any and all claims and at assignment made without such consent of the City damages of every kind and nature made, rendered or shall be void. incurred by or in behalf of every person or corporation 17. EQUAL OPPORTUNITY - The successful firm agrees whatsoever, including the parties hereto and their employees that may arise, occur, or grow out of any not to refuse to hire, discharge, promote, demote, or to acts, actions, work or other activity done by the otherwise discriminate in matters of compensation Contractor, its employees, subcontractors or any against any person otherwise qualified solely because independent contractors working under the direction of of age, race, color, religion, sex, sexual orientation, either the Contractor or subcontractor in the gender identity, marital status, national origin, performance of this Contract. citizenship status, disability, or veteran status. 8. PROPOSAL REJECTION OR PARTIAL ACCEP- 18. TAXES -The City of Waterloo is exempt from sales tax TANCE - The City reserves the right to reject any or all and certain other use taxes.Any charges for taxes from Proposals. The City further reserves the right to waive which the City is exempt will be deducted from invoices technicalities and formalities in Proposals, as well as to before payment is made. accept in whole or in part such Proposals where it is 19. PROPOSAL INFORMATION IS PUBLIC — All deemed advisable in protection of the best interests of documents submitted with any proposal and the the City. proposal shall become public documents and subject to 9. PROPOSAL CURRENCY/LANGUAGE - All proposal Iowa Code Chapter 22,which is otherwise known as the prices shall be shown in US Dollars ($). All prices must "Iowa Open Records Law". By submitting any document remain firm for the duration of the Contract regardless of to the City of Waterloo in connection with a proposal, the exchange rate. All proposal responses must be the submitting party recognized this and waives any submitted in English. claim against the City of Waterloo and any of its officers and employees relating to the release of any document 10. PAYMENTS - Payments will be made for all or information submitted. goods/services delivered, inspected and accepted within 45 days and on receipt of an original invoice and all Each submitting party shall hold the City of Waterloo necessary supporting documentation. and its officers and employees harmless from any claims arising from the release of any document or 11. MODIFICATION, ADDENDA & INTERPRETATIONS - information made available to the City of Waterloo Any apparent inconsistencies, or any matter requiring arising from any proposal opportunity. explanation or interpretation, must be inquired into by the Proposer in writing at least 72 hours (excluding RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 Ela& 54 Of 557 Page 7 of 9 EXHIBIT"A" SIGNATURE PAGE The undersigned Proposer/Bidder, having examined these documents and having full knowledge of the condition under which the work described herein must be performed, hereby proposes that they will fulfill the obligations contained herein in accordance with all instructions, terms, conditions, and specifications set forth; and that they will furnish all required services and pay all incidental costs in strict conformity with these documents for the stated process as payment in full. 928 Mulberry Street, 1526 E 4th Street, 114 E 10th Street, and 10S E 11th Street. Total "lump sum" bid: $ The correct summation of the actual bid tabulation figures will supersede the listed total, Submitting Firm: Address: City: State: Zip: Authorized Representative (print) Authorized Representative Signature Date: Email: Phone: Fax: EXCEPTIONS/DEVIATIONS to this Request for Proposal shall be listed in writing on an attached document provided by the Bidder. Please be as specific as possible. Please check one: Our company has no exceptions/deviations. Our company does have exceptions/deviations which are listed on an attached document. GENERAL INFORMATION. Freight and/or delivery charges, if any, shall be included in the price. FIRM PRICING. Offered prices shall remain firm for a minimum of sixty (60) days after the due date of this solicitation unless indicated otherwise. Accepted prices shall remain firm for the duration of the contract. ADDENDA (It is the Bidder's responsibility to check for issuance of any addenda). The authorized representative herby acknowledges receipt of the following addenda: Addenda Number Date Addenda Number Date ❑ We choose not to bid at this time but would like to be considered for future requests for bid RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 Ela& 55 of 557 Page 8 of 9 Our "not to exceed" bid price for each property is: 928 Mulberry Street $ 1526 E 4th Street 114 E 10th Street 105 E 11th Street Total $ RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-12-04P:928 Mulberry St, 1526 E 4"'St,114 E 10"'St,and 105 Ela& 56 Of 557 Page 9 of 9 928 Mulberry, Waterloo, Iowa Surfacing Materials Material Description Location uantit None Thermal Systems Insulation Material Description Location uantit Duct Paper Gray/White Basement/In-Wall Ducts <50 SF Miscellaneous Materials Material Description Location uantit Linoleum Green Bathroom/2"d Floor 40 SF Linoleum Beige/Brown Bedroom /2nd Floor 180 SF Linoleum Green Bathroom Closet/2nd Floor 12 SF 12" Floor Tile Tan Living Room/ bottom Layer 54 SF 12" Floor Tile Gray Hallway Entry/Bottom Layer 60 SF Tar/ Roof Patch Gray/Black Chimney/Front& Back Porches 75 LF All quantities supplied are estimates. Contractors must field verify all material conditions and quantities for bidding purposes. Page 57 of 557 EMSL Analytical, Inc. FMSL Order: 161319157 2001 East 52nd St.,Indianapolis,IN 46205 CustomerlD: HFNN77 Phone/Fax: (317)803-2997 1(317)803-3047 CustomerPQ: htli Pwww.EMSL corn indianapolislab(F" emsl.com ProjectlD: City of Waterloo,lA At1n: Steve Henneberry Phone: (319)551-4441 Hawkeye Environmental Fax: (319)624-4029 814 Wood Lily Road Received: 12103/13 9:55 AM Solon, IA 52333 Analysis Date: 12/10/2013 Collected: Project: CITY OF WATERLOO 928 MULBERRY Test Report: Asbestos Analysis of Bulls Materials via EPA 600IR-931116 Method using Polarized Light Microscopy Non-Asbestos Asbestos Sample Description Appearance % Fibrous % Non-Fibrous % Type 001 duct paper Gray 40% Cellulose 20% Non-fibrous(other) 40% Chrysotile furnace vents Fibrous 161319157 0001 Homogeneous 002 glazing wood White 100% Non-fibrous(other) None Detected wdws Non-Fibrous 161319157-0002 Homogeneous Inseparable paint 1 coating layer included in analysis 003-Skim Coat plaster skim White 100% Non-fibrous(other) <1% Chrysotile coat/plaster Non-Fibrous 161319157-0003 Heterogeneous Inseparable paint 1 coaling layer included in analysis 003-Base Coat plaster skim Gray 20% Quartz None Detected 161319157-0003A coatlplaster Non-Fibrous 80% Non-fibrous(other) Homogeneous 004 12"it wd grain Brown 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0004 Homogeneous 005 linoleum bdrm Green 20% Cellulose 60% Non-fibrous(other) 20"K Chrysotite Fibrous 161319157-0005 Heterogeneous 006 linoleum bdrm Tan 20% Cellulose 60% Non-fibrous(other) 20% Chrysotile Fibrous 1.31319157-0006 Heterogeneous 007 plaster skim coat White 100% Non-fibrous(other) None Detected Non-Fibrous 151319157-0007 Heterogeneous Inseparable paint/coating layer included in analysis Analyst(s) Craig Nixon(34) Richard Harding, Laboratory Manager or other approved signatory FMSL maintains liability limited to cost of analysis, This report relates only to the samples reported and may not be reproduced,except in full,without written approval by EMSL. EMSL bears no responsibility for sample collection activities or analytical method limitations. Interpretation and use of test results are the responsibility of the client. This report must not be used by the client to claim product certification,approval,or endorsement by NVLAP.NIST or any agency of the federal government. Non-friable organically bound materials present a problem matrix and therefore EMSL recommends gravimetric reduction prior to analysis. Samples received in good condition unless otherwise noted. Estimated accuracy,precision and uncertainty data available upon request.Unless requested by the client,building materials manufactured with multiple layers(i.e.linoleum,wallboard,etc.)are reported as a single sample_Reporting limit is 1% Samples analyzed by EMSL Analytical,Inc.IndEarapolis,IN NVLAP Lab Code 230158-0,AZD939,CA 2575,Cp ALA 5132,TX 300262 J r Initial report from 12/10/2013 13:22:14 Test Report PLM-7.28.9 Printed: 1211012013 1:31:59 PM 1 Page 58 of 557 EMSL Analytical, Inc, EMSL order: 161319157 1 2001 East 52nd St.,Indianapolis,IN 46205 Customerli HENN77 Phone/Fax: (317)803-2997 1(317)803-3047 CustomerPO: httu./1www.EMSL.com indianapoiislabrQ?emsl cam ProjectlD: City of Waterloo, IA Attn: Steve Henneberry Phone: (319)551-4441 Hawkeye Environmental Fax: (319)624-4029 814 Wood Lily Road Received: 12/03/13 9:55 AM Solon, IA 52333 Analysis Date: 12/10/2013 Collected: Project: CITY OF WATERLOO 928 MULBERRY Test Report: Asbestos Analysis of Bulk Materials via EPA 6001R-931116 Method using Polarized Light Microscopy Non-Asbestos Asbestos Sample Description Appearance % Fibrous % Non-Fibrous % Tvpe 008 plaster Gray 2% Hair 20% Quartz None Detected 161319157-0008 Non-Fibrous 78% Non-fibrous(other) Homogeneous 009 12"ft liv rm Gray 98% Non-fibrous(other) 2% Chrysotile Non-Fibrous 161319157-0009 Homogeneous 010 mastic liv rm Black 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0010 Homogeneous 011-Floor Tile 12"ft top layer liv Tan 100% Non-fibrous (other) None Detected rm Non-Fibrous 161319157-0011 Homogeneous 011-Mastic 12"ft top layer liv Tan/Black 100% Non-fibrous(other) None Detected rm Non-Fibrous 161319157-0011A Homogeneous 012 linoleum 2nd fl Brown 30% Cellulose 65% Non-fibrous (other) None Detected bathrm Fibrous 5% Glass 161319157-0012 Heterogeneous 013 linoleum 2nd fl Beige 10% Cellulose 80% Non-fibrous(other) 10% Chrysotile bathrm closet Fibrous (61319157-0013 Heterogeneous 014-Floor Tile 12"ft bathrm Beige 100% Non-fibrous(other) None Detected closet (Von-Fibrous 161319157-0014 Homogeneous Analysts) Craig Nixon(34) Richard Harding,Laboratory Manager or other approved signatory EMSL maintains liability limited to cost of analysis. This report relates only to the samples reported and may not be reproduced,except in full,without written approval by EMSL EMSL bears no responsibility for sample collection activities or analytical method limitations. Interpretation and use of test results are the responsibility of the client, This report must not be used by the cllent to claim product certification,approval,or endorsement by NVLAP,NIST or any agency of the federal government. Non-friable organically bound materials present a problem matrix and therefore EMSL recommends grevimetro reduction prior to analysis. Samples received in good condition unless otherwise noted. Estimated accuracy,precision and uncertainty data available upon request.Unless requested by the client,building materials manufactured with multiple layers(i.e.linoleum,wallboard,etc.)are reported as a single sample.Reporting limit is 1% Samples analyzed by EMSL Analytical,Inc.Indianapolis,IN NVLAP Lab Code 2001 BB-0,AZO939,CA 2575,CC AL-15132,TX 300262 Initial report from 12/10/2013 13:22:14 Test Report PLM-7.28.9 Printed: 12110/2013 1:31:59 PM 2 Page 59 of 557 EMSL Analytical, Inc. EMSL Order: 1 61 31 91 57 2001 East 52nd St.,Indianapolis,IN 46205 CustomerlD: HENN77 Phone/Fax, (317)803-2997 1(317)803-3447 CustomerPO: httP:llwww_EMFLcorn indianapolisiabCo),emsl.com ProjectlD: City of Waterloo, IA Attn: Steve Henneberry Phone: (319)551-4441 Hawkeye Environmental Fax: (319)624-4029 814 Wood Lily Road Received: 12/03/13 9:55 AM Solon, IA 52333 Analysis Date: 12/1012013 Collected: Project: CITY OF WATERLOO 828 MULBERRY Test Report: Asbestos Analysis of Bulk Materials via EPA 60018-931116 Method using Polarized Light Microscopy Non-Asbestos Asbestos sample Description Appearance % Fibrous % Non-Fibrous % T e 014-Mastic 12"ft bathrm Clear 100% Non-fibrous(other) None Detected closet Non-Fibrous 151319157-0014A Homogeneous 015 12"ft 1st fl entry Tan 100% Non-fibrous(other) None Detected 161319157 0015 Non-Fibrous Homogeneous 016-Floor Tile 12"ft 1st fl entry Cream 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0016 Homogeneous 016-Mastic 12"ft 1st fl entry Clear 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-00168 Homogeneous 017 linoleum hall Brown 100% Non-fibrous(other) None Detected 161319157-0017 Non-Fibrous Homogeneous 018 12"ft hall Gray 98% Non-fibrous(other) 2% Chrysotile Non-Fibrous 161319157-0018 Homogeneous 019 mastic hall Black 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0019 Homogeneous 020-Floor Tile 12"ft hall White 100% Non-fibrous (other) None Detected 161319157-0020 Non-Fibrous Homogeneous Analyst(s) Ile. - Craig Nixon(34) Richard Harding, Laboratory Manager or other approved signatory EMSL maintains liability limited to cost of analysis This report relates only to the samples reported and may not be reproduced.except in full,without written approval by EMSL EMSL bears no b responsibility for sample collection activities or analytical method limitations. Interpretation and use of lest results are the responsibility of the client This report must not he used y the client to claim product certification,approval,or endorsement by NVLAP,NIST or any agency of the federal government_ Non-friable organically bound materials present a problem matrix and therefare EMSL recommends gravimetric reduction prior to analysis, Samples received in good condition unless otherwise noted. Estimated accuracy,precision and uncertainty data available upon request,Unless requested by the client,building materials manufactured with multiple layers(i e.linoleum,wallboard,etc.)are reported as a single sample.Reporting limit is 1% Samples analyzed by EMSL Analocal,Inc.Indianapolis,IN NVLAP Lab Code 200188-0,AZ0939,CA 2575,CC AL-15132,TX 300252 II L J Initial report from 12/10/2013 13:22:14 Test Report PLM-7.28.9 Printed: 12/10/2013 1:31:59 PM 3 Page 60 of 557 EMSL Analytical, Inc. Fl order: 161319157 2001 East 52nd St.,Indianapolis,IN 46205 CustomerlD: HENN77 Phone/Fax: (317)803-29971(317)803-3047 Custorril title 11vvww.EMSL.com indlanapohslah(a),emsl.com ProjectlD: City of Waterloo, IA Attn: Steve Henneberry Phone: (319)551 4441 Hawkeye Environmental Fax: (319)624-4029 814 Wood Lily Road Received: 12/03/13 9:55 AM Solon, IA 52333 Analysis Date: 12/10/2013 Collected: Project: CITY OF WATERLOO 928 MULBERRY Test Report: Asbestos Analysis of Bulk Materials via EPA 6001R-931116 Method using Polarized Light Microscopy Non-Asbestos Asbestos Sample Description Appearance % Fibrous % Non-Fibrous % Tvpe 020-Mastic 12"ft hall Clear 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0020A Homogeneous 021 12"ft 1st fl rr Beige 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-002P Homogeneous 022 linoleum 1 st fl Brown/Black 50% Cellulose 50% Non-fibrous(other) None Detected bdrm closet Fibrous 161319157-0022 Heterogeneous 023 plaster skim coat White 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0023 Homogeneous Inseparable paint/coating layer included in analysis 024 plaster Gray <1% Cellulose 20% Quartz <1% Chrysotile 161319157-0024 Non-Fibrous 80% Non-fibrous(other) Homogeneous 025 dwjc White 100% Non-fibrous(other) None Detected Non-Fibrous 161319157-0025 Homogeneous inseparable paint/coating layer included in analysis 026 asphalt shingle Black 30% Cellulose 10% Non-fibrous(other) None Detected bot layer roof Fibrous 161319f57-0026 Heterogeneous 027 asphalt shingle White/Black 35% Cellulose 65% Non-fibrous(other) None Detected mid layer roof Fibrous 161319157-0027 Heterogeneous Analyst(s) Craig Nixon(34) Richard Harding,Laboratory Manager or other approved signatory EMSL maintains liability limited to cast of analysis. This report relates only to the samples reported and may not be reproduced,except in full,without writlen approval by EMSL. EMSL.bears no responsibility for sample collection activities or analytical method limitations_ Interpretation and use of test results are the responsibility of the client. This report must not be used by the client to claim product certification,approval,or endorsement by NVLAP,NIST or any agency of the federal government. Non-friable organically bound materials present a problem matrix and therefore EMSL recommends gravimetric reduction prior to analysis. Samples received in good condition unless otherwise noted. Estimated accuracy,precision and uncertainty data available upon request.Unless III requested by the client,building materials manufactured with multiple layers(i.e.linoleum,wallboard,etc.)are reported as a single sample_Reporting limit is 1% Samples analyzed by EMSL Analytical,Inc.Indianapolis,IN NVLAP Lab Code 200188-0,AZ0939,CA 2575,CO AL-15132,TX 300262 Initial report from 12/10/2013 13:22:14 Test Report PLM-7.28.9 Printed: 12110/2013 1:31:59 PM 4 Page 61 of 557 EMSL Analytical, Inc. EMSL Order: 161319157 2001 East 52nd St.,Indianapolis,IN 46206 CustortlerlD: HENN77 Phone/Fax: (317)80329971(317)503-3047 CustomerPO: htto:Irwww EMSL corn indianapchslabgentsi,coir ProjectlD: City of Waterloo,lA Attn: Steve Henneberry Phone: (319)551-4441 Hawkeye Environmental Fax: (319)624-4029 814 Wood Lily Road Received: 12/03/13 9:55 AM Solon, IA 52333 Analysis date: 12110/2013 Collected: Project: CITY OF WATERLOO 928 MULBERRY Test Report: Asbestos Analysis of Bulk Materials via EPA 6001R-931116 Method using Polarized Light Microscopy Non-Asbestos Asbestos Sample Description Appearance % Fibrous % Non-Fibrous % T e 028 asphalt shingle BrownlWhitelBlac 20% Glass 80% Non-fibrous(other) None Detected top layer roof k Fibrous 161319157-0028 Heterogeneous 029 tar roof flashing WhitelBlack 96% tion-fibrous(other) 4% Chrysotile chimney Non-Fibrous 161319157-0029 Homogeneous Analysts) Craig Nixon(34) Richard Harding,Laboratory Manager or other approved signatory EMSL maintains liability limited to cost of analysis. This report relates only to the samples reported and may not he reproduced,except in full,without written approval by EMSL. EMSL bears no responsibility for sample collection activities or analytical method limitations. Interpretation and use of test results are the responsibility of the client. This report must not be used by the client to claim product certification,approval,or endorsement by NVLAP,NIST or any agency of the federal government, Non-Triable organically bound materials present a problem matrix and therefore EMSL recommends gravimetric reduction prior to analysis, Samples received in good condition unless otherwise noted, Estimated accuracy,predsfon and uncertainty data available upon request_Unless requested by the client,building materials manufactured with multiple layers(i_e_linoleum,wallboard,etc.)am reported as a single sample.Reporting limit is 1% Samples analyzed by EMSL Analytical,Inc.Indianapolis,IN Al Lab Code 200188-0,AZ0939,CA 2575,CO AL-15132,TX 300262 Initial report from 12/10/2013 13:22:14 Test Report PLM-7.28.9 Printed: 12/10/2013 1:31:59 PM THIS IS THE LAST PAGE OF THE REPORT. 5 Page 62 of 557 !¢1319157 ?i ww EMSL Analytical,InC. 2001 East 52nd StrOet Asbestos Bulk Building Material Chain of Custody Indianapolis, IN 46205 EMSL Order Number(Lab use Only): P=jl'�NF (317)803-2097 owl ANALYTICAL.ENC. .:�. *. F`,s (317)803-3047 Hawkeye Environmental H i EMSL-6111 to: t Same Different Com an to is Clfterent Date instructions in Comments" Street:814 Wood Lily Road Third Party Billing uires written authorization from third art City:Solon StatefProvince:IA Zi !Postai Gods:52333 Caun :United States ert To Name :Steve Henneberry Tele hone#:319-551-4441 Email Address: hawkernriro@southslope.net Fax#: Purchase Order., Pro ect Name/Number.Citv of Waterloo-928 Mulberry Please Provide Results: ax mail all U.S.State Sam les Taken:IA CT Sam es: CornmerciallTaxable ResidentlalITax Exem t Turnaround Time TAT o tions*-Please Check 3 Hour 6 Hour I Lj 2,1 Hour I Lj 43 Hour I Lj 72 Hour I U 96 Hour I V 1 Week 2 Week 'For TEM Air 3 hr through 8 hr,please call ahead to schedule.-Them is a premium charge for 3 hour TEM AHERA or EPA Level If TAT. You wiN be asked to sign an authorization form for this servke. Ana co d in accordance with EM 5L's Terms and Conditions kiceled in the An lest Price Guide PLM-Bulk freiz2 doer limil3 TEM_Bulk ®PLM EPA 60018-93/116(<I%) ❑TEM EPA NOB_EPA 500111-931116 Section 2.5.5.1 ❑PLM EPA NOB(<1%) ❑NY EIRP Method 198.4(TEM) Plaint Count ❑400(<0.25%)D 1000(<0.1%) ❑Chatfield Protocol(semi-quantitative) Paint Count w/Gravimetric❑400(<0.25%)El1000(<0. ❑TEM%by Mass-EPA 600/R-93/115 Section 2.5.5.2 [3 NIOSH 9002(<1%) ❑TEM Qualitative via Filtration Prep Technique ❑ NY FLAP Method 198.1 (friable in NY) ❑TEM Qualitative via Drop Mount Prep Technique NY FLAP Method 198.6 NOB(non-friable-NY) OOr r ❑ OSHA ID-191 Modified ❑ Q Standard Addition Method Check For Positive Sto W Clea Iden Homogenous 9 Date Sampled:_ Samplers ....Steve Henneberry Samplers signature: Sample# HA# Sample Location Material Deac 001 Duct Paper (Furnace Vents) Gray 002 Glazing (wood windows) White 003 Plaster Skim Coat 1 Plaster White l 004 12" Floor Tile (wood grain) Brown ! Black Ops Linoleum (bedroom) Green Opt; Linoleum (bedroom) Beige I Tan / Brown 007 Plaster Skim Coat White 008 Plaster Gray 009 12" Floor Tile (living room) Tan 010 Mastic (living loom) Black Client Sam le# s : 00 - 02-9 Total#of Samples. 29 Relinquished{Client]: pate: 2-2 l 3 Time: Received(Lab): Date: u Time Comments/Specia nStrlrctl a: Page 1 of pages w Page 63 of 557 15337,9157 1=MSL Analytical, Inc. Asbestos Bulk Building Material 2001 East 52nd Street Chain of Custody Indianapolis, IN 46205 FMSL ANALYTVCAL,�Nc. EMSL Order Number(Lab Use Only): (317)803-2997 i.ye...wn...00ue...neawMo (317)603-3047 Additional Pages of the Chain of Custody are only necessary if needed for additional sample information Sample# HA# Sample Location Material Description 011 12" Floor Tile (top layer 1 living room) Beige 1 Tan 012 Linoleum (2nd Floor bathroom) Brown 013 Linoleum (2nd Floor bathroom closet) Beige 1 Green 014 12"Floor Tile(peel n stick/bathroom closet/top layer) Gray 015 12" Floor Tile (1 st floor entry) Brown 016 12" Floor Tile (1st floor entry / top layer) Gray 017 Linoleum (hallway) Tan / Brown 018 12" Floor Tile (hallway) Gray 019 Mastic (hallway) Black 020 12" Floor Tile (peel n stick/hallway 1 top layer) Gray 021 12" Floor Tile (peel n stick 1 1 st Floor RR) Beige 022 Linoleum (1st floor bedroom closet) Green 1 Black 023 Plaster Skim Coat White 024 Plaster Gray 025 Drywall Joint Compound White 026 Asphalt Single (bottom layer/ roof) Black middle layer 1 027 Asphalt Single { roof Gra y ) y 1 Black 028 Asphalt Single (top layer 1 roof) Brown 1 Black 029 Tar/ Roof Flashig (chimney) Gray 1 Black -1 "Comments/Special Instructions: Page 2 of 2 pages Page 64 of 557 I y -W.Ns 43) I 4 � N r , I Page 65 of 557 �y 1 O i 4i r t r L � 1. � a r Page 66 of 557 • 4 CL ' r1 '.1Jd • r�,, TTTIIIFFF i Page • s ORT a N'Rk�6 �q,'F i �4`���AA i 'A 7 S •R ;a d2o. N Fb I- WX • AWK Y ENVIRONMENTAL I. CONTENTS A. ASBESTOS INSPECTION REPORT 1. LOCATION 2. CONTACT PERSONS 3. DATE OF INSPECTION 4. FIRM PERFORMING THE INSPECTION S. BULK SAMPLE LABORATORY 6. LABORATORY ACCREDITATION B. SCOPE OF WORK/ INSPECTION NOTES C. SUMMARY OF ASBESTOS MATERIALS D. BULK SAMPLE ANALYSIS / CHAIN OF CUSTODY 0 0 L Q) 0 U Page 69 of 557 AWK Y ENVIRONMENTAL A. ASBESTOS INSPECTION REPORT DATA 1. LOCATION Residential Property 1526 E. 4th Street Waterloo, Iowa 2. CLIENT CONTACT Mr. Chris Western Planning and Zoning Department City of Waterloo, Iowa 3. DATE(s) OF INSPECTION April 29, 2020 4. FIRM PERFORMING INSPECTION Hawkeye Environmental 814 Wood Lily Road Solon, IA 52333 S. LABORATORY USED FOR BULK SAMPLE ANALYSIS Eurofins CEI 730 SE Maynard Road Cary, North Carolina, 27511 6. LABORATORY ACCREDITATION 0 NVLAP (Nation Voluntary Laboratory Accreditation Program) a Lab Code: 101768 0 U Page 70 of 557 AWK Y ENVIRONMENTAL B. SCOPE OF WORK Methods and Procedures: The property located 1526 E. 4th Street, Waterloo, Iowa was inspected prior to scheduled demolition activities which may disturb asbestos containing building materials in accordance with NESHAPS (National Emission Standards for Hazardous Air Pollutants) regulations. Field sampling methods were based on (NESHAPS) National Emission Standards for Hazardous Air Pollutants) protocols. Representative samples of suspect building materials were taken from Homogeneous Areas (HA-defined as similar in age, appearance and function). The purpose of this inspection was to identify quantities and locations of asbestos containing building materials prior to demolition of the structures. Bulk samples of suspect asbestos containing materials (ACM) were analyzed by Polarized Light Microscopy (PLM) with dispersion staining, as described in 40 CFR Part 763 and NESHAPS. Each sample was analyzed for the six different types of fibrous asbestos forms, of which a percentage, by volume, is estimated and summarized. If further analysis and quantification is warranted, this analysis is performed by EPA 600/R-93/116 with 400 or 600 Point Count Procedure. Further analysis of samples may also be performed at the client's request using Transmission Electron Microscopy (TEM). Sample analysis was performed by SanAir Technologies Laboratory. Sanair is accredited by the National Institute for Standards and Technology for Polarized Light Microscopy analysis under their NVLAP (National Voluntary Lab Accreditation Program). Asbestos Containing Building Materials (ACBM)s and their control during renovation or demolition activities is regulated in Iowa by the Iowa Department of Natural Resources. Specific questions about testing or abatement activities may be directed to Mr. Tom Wuehr, Iowa DNR -Air Quality Division. Tom.Wuehr@DNR.lowa.gov 515-494-8212 Additional forms, guidance and technical information regarding asbestos can be found on the DNR website at: http://www.iowadnr.gov/air/prof/asbestos/asbestos.html 0 0 v 0 U Page 71 of 557 AWK Y ENVIRONMENTAL INSPECTION NOTES In accordance with your request and authorization Hawkeye Environmental, LLC has performed and asbestos survey for the project referenced above. It is our understanding that the subject property will be demolished. Demolition has the potential to disturb all building materials. It is the intent of this survey to determine if any of the materials with potential for disturbance are asbestos containing. The structure is a former single-family home which is now vacant. The property is in poor condition for its age and state of use. Roof or roofing systems were sampled and included in this report. A representative number of samples were collected from all suspect asbestos building materials. 0 0 v 0 U Page 72 of 557 AWK Y ENVIRONMENTAL C. SUMMARY OF ASBESTOS BUILDING MATERIALS 1526 E. 4th Street Surfacing Materials Material Description Location —quantity None Thermal Systems Insulation Material Description Locationuantit 6 boots 60 LF Duct Paper Gray Basement in wall Miscellaneous Materials Material Description Location —quantity 9" Floor Tile (no mastic) Red/Black Basement 300 SF 9" Floor Tile (no mastic) Gray Side Entry/Stairs 75 SF 9" Floor Tile (no mastic) Gray Front Porch 150 SF 12" Floor Tile (no mastic) White Living+ Dining Room 300 SF Chimney Tar(Assumed) Gray Chimney <1%Asbestos Materials Material Description Location Quantity None * Materials which contain less than 1% asbestos are not considered "asbestos- containing materials" per Iowa DNR and EPA regulations. However, OSHA considers materials with any asbestos content to be a potential hazard. Contractors shall be required to comply with all OSHA regulations regarding removal of materials or demolition of structures with materials containing less than 1% asbestos. Quantities supplied are estimates. Contractors must o field verify all material quantities, locations and conditions. o Page 73 of 557 AWK Y ENVIRONMENTAL BULK SAMPLE ANALYSIS 1526 E. 4th Street Waterloo, Iowa 0 0 L Q) 0 U Page 74 of 557 tiff eurofins CEI May 8, 2020 Hawkeye Environmental 814 Wood Lily Road Solon, IA 52333 CLIENT PROJECT: City of Waterloo, 1526 E. 4th St. CEI LAB CODE: A205729 Dear Customer: Enclosed are asbestos analysis results for PLM Bulk samples received at our laboratory on May 6, 2020. The samples were analyzed for asbestos using polarizing light microscopy (PLM) per the EPA 600 Method. Sample results containing >1% asbestos are considered asbestos-containing materials (ACMs) per EPA regulatory requirements. The detection limit for the EPA 600 Method is <1% asbestos by weight as determined by visual estimation. Thank you for your business and we look forward to continuing good relations. Kind Regards, Tianbao Bai, Ph.D., CIH Laboratory Director INVtA TESTING NVLAP LAB CODE 101768-0 730 SE Maynard Road • Cary, NC 27511 • 919.481 .1413 Page 75 of 557 tiff eurofins CEI ASBESTOS ANALYTICAL REPORT By: Polarized Light Microscopy Prepared for Hawkeye Environmental CLIENT PROJECT: City of Waterloo, 1526 E. 4th St. LAB CODE: A205729 TEST METHOD: EPA 600 / R93 / 116 and EPA 600 / M4-82 / 020 REPORT DATE. 05/08/20 TOTAL SAMPLES ANALYZED: 33 # SAMPLES >1% ASBESTOS: 6 Page 76 of 557 .% Asbestos Report Summary ti•} e u rof i n s By: POLARIZING LIGHT MICROSCOPY CEI PROJECT: City of Waterloo, 1526 E. 4th St. LAB CODE: A205729 METHOD: EPA 600 / R93/ 116 and EPA 600 / M4-82 / 020 ASBESTOS Client ID Layer Lab ID Color Sample Description % 001 A92203 Gray Duct Paper O 002 A92204 Red Floor Tile I', 003 A92205 Black Floor Tile '. 004 A92206 Black Mastic None Detected 005 A92207 White Floor Tile 006 A92208 Black Mastic None Detected 007 A92209A Gray Floor Tile A92209B Brown Mastic None Detected 008 A92210A White Floor Tile None Detected A92210B Yellow Mastic None Detected 009 Layer 1 A92211 White Floor Tile - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Layer 2 A92211 Black Felt Paper None Detected 010 A92212A Tan Floor Tile None Detected A92212B Yellow Mastic None Detected 011 A92213 Black Mastic None Detected 012 A92214 Gray Plaster None Detected 013 A92215 White Skim Coat None Detected 014 A92216 Gray Plaster None Detected 015 A92217 White Skim Coat None Detected 016 A92218 Gray Plaster None Detected 017 A92219 White Skim Coat None Detected 018 A92220 White Texture None Detected 019 A92221 White Texture None Detected 020 A92222 White Texture None Detected 021 A92223 White Texture None Detected 022 A92224 White Texture None Detected 023 A92225 White Texture None Detected 024 A92226 White Drywall None Detected 025 A92227 Tan Tape None Detected 026 A92228 No Sample Present in Sample Container Page 1 of 2 Page 77 of 557 OeurofinsAsbestos Report Summary CEI By: POLARIZING LIGHT MICROSCOPY PROJECT: City of Waterloo, 1526 E. 4th St. LAB CODE: A205729 METHOD: EPA 600 / R93/ 116 and EPA 600 / M4-82 / 020 ASBESTOS Client ID Layer Lab ID Color Sample Description % 027 Layer 1 A92229 Brown Linoleum None Detected - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Layer 2 A92229A Black Felt Paper None Detected A92229B Brown Mastic None Detected 028 Layer 1 A92230 Green Linoleum None Detected - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Layer 2 A92230A Black Felt Paper None Detected A92230B Brown Mastic None Detected 029 A92231A Variously Linoleum None Detected A92231 B Yellow Mastic None Detected 030 A92232 Brown Insulation None Detected 031 A92233 Brown,White Ceiling Tile None Detected 032 A92234 Black Shingle None Detected 033 A92235 Green,Black Shingle None Detected 034 A92236 Gray,Black Shingle None Detected Page 2 of 2 Page 78 of 557 ASBESTOS BULK ANALYSIS e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A205729 814 Wood Lily Road Date Received: 05-06-20 Solon, IA 52333 Date Analyzed: 05-07-20 Date Reported: 05-08-20 Project: City of Waterloo, 1526 E. 4th St. ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 001 Duct Paper Homogeneous 35% Binder A92203 Gray •• Fibrous Bound 002 Floor Tile Homogeneous 90% Vinyl ff ' , A92204 Red Fibrous Tightly Bound 003 Floor Tile Homogeneous 90% Vinyl A92205 Black Fibrous Tightly Bound 004 Mastic Homogeneous <1% Cellulose 100% Tar None Detected A92206 Black Non-fibrous Bound 005 Floor Tile Homogeneous 88% Vinyl A92207 White 10% Calc Carb Non-fibrous Bound 006 Mastic Homogeneous 100% Tar None Detected A92208 Black Non-fibrous Bound 007 Floor Tile Homogeneous 80% Vinyl A92209A Gray 17% Calc Carb Non-fibrous Bound Page 1 of 7 Page 79 of 557 •., ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A205729 814 Wood Lily Road Date Received: 05-06-20 Solon, IA 52333 Date Analyzed: 05-07-20 Date Reported: 05-08-20 Project: City of Waterloo, 1526 E. 4th St. ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % A92209B Mastic Homogeneous 100% Mastic None Detected Brown Non-fibrous Bound 008 Floor Tile Homogeneous 80% Vinyl None Detected A92210A White 20% Calc Carb Non-fibrous Bound A92210B Mastic Homogeneous 100% Mastic None Detected Yellow Non-fibrous Bound 009 Floor Tile Homogeneous 80% Vinyl Layer 1 White 18% Calc Carb A92211 Non-fibrous Bound - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Layer 2 Felt Paper Homogeneous 50% Cellulose 50% Tar None Detected A92211 Black Fibrous Bound 010 Floor Tile Homogeneous 80% Vinyl None Detected A92212A Tan 20% Calc Carb Non-fibrous Bound A92212B Mastic Homogeneous <1% Cellulose 100% Mastic None Detected Yellow Non-fibrous Bound Page 2 of 7 Page 80 of 557 •., ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A205729 814 Wood Lily Road Date Received: 05-06-20 Solon, IA 52333 Date Analyzed: 05-07-20 Date Reported: 05-08-20 Project: City of Waterloo, 1526 E. 4th St. ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 011 Mastic Homogeneous 2% Cellulose 98% Tar None Detected A92213 Black Non-fibrous Bound 012 Plaster Homogeneous <1% Hair 70% Binder None Detected A92214 Gray 30% Silicates Fibrous Bound 013 Skim Coat Heterogeneous 95% Binder None Detected A92215 White 5% Paint Non-fibrous Bound 014 Plaster Homogeneous <1% Hair 70% Binder None Detected A92216 Gray 30% Silicates Fibrous Bound 015 Skim Coat Heterogeneous 95% Binder None Detected A92217 White 5% Paint Non-fibrous Bound 016 Plaster Homogeneous <1% Hair 70% Binder None Detected A92218 Gray 30% Silicates Fibrous Bound 017 Skim Coat Heterogeneous 95% Binder None Detected A92219 White 5% Paint Non-fibrous Bound Page 3 of 7 Page 81 of 557 •., ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A205729 814 Wood Lily Road Date Received: 05-06-20 Solon, IA 52333 Date Analyzed: 05-07-20 Date Reported: 05-08-20 Project: City of Waterloo, 1526 E. 4th St. ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 018 Texture Heterogeneous 80% Calc Carb None Detected A92220 White 15% Foam Non-fibrous 5% Paint Bound 019 Texture Heterogeneous 80% Calc Carb None Detected A92221 White 15% Foam Non-fibrous 5% Paint Bound 020 Texture Heterogeneous 80% Calc Carb None Detected A92222 White 15% Foam Non-fibrous 5% Paint Bound 021 Texture Heterogeneous 80% Calc Carb None Detected A92223 White 15% Foam Non-fibrous 5% Paint Bound 022 Texture Heterogeneous 80% Calc Carb None Detected A92224 White 15% Foam Non-fibrous 5% Paint Bound 023 Texture Heterogeneous 80% Calc Carb None Detected A92225 White 15% Foam Non-fibrous 5% Paint Bound 024 Drywall Heterogeneous 20% Cellulose 80% Gypsum None Detected A92226 White Fibrous Bound Page 4 of 7 Page 82 of 557 •., ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A205729 814 Wood Lily Road Date Received: 05-06-20 Solon, IA 52333 Date Analyzed: 05-07-20 Date Reported: 05-08-20 Project: City of Waterloo, 1526 E. 4th St. ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 025 Tape Homogeneous 100% Cellulose None Detected A92227 Tan Fibrous Bound 026 No Sample Present in A92228 Sample Container 027 Linoleum Heterogeneous 10% Cellulose 90% Vinyl None Detected Layer 1 Brown A92229 Fibrous Bound - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Layer 2 Felt Paper Heterogeneous 50% Cellulose 50% Tar None Detected A92229A Black Fibrous Bound A92229B Mastic Heterogeneous 100% Mastic None Detected Brown Non-fibrous Bound 028 Linoleum Heterogeneous 100% Vinyl None Detected Layer1 Green A92230 Fibrous Bound - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Layer 2 Felt Paper Heterogeneous 50% Cellulose 50% Tar None Detected A92230A Black Fibrous Bound A92230B Mastic Heterogeneous 100% Mastic None Detected Brown Non-fibrous Bound Page 5 of 7 Page 83 of 557 •., ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A205729 814 Wood Lily Road Date Received: 05-06-20 Solon, IA 52333 Date Analyzed: 05-07-20 Date Reported: 05-08-20 Project: City of Waterloo, 1526 E. 4th St. ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 029 Linoleum Heterogeneous 100% Vinyl None Detected A92231 A Variously Non-fibrous Bound A92231 B Mastic Heterogeneous 5% Cellulose 95% Mastic None Detected Yellow Fibrous Bound 030 Insulation Heterogeneous 100% Cellulose None Detected A92232 Brown Fibrous Loose 031 Ceiling Tile Heterogeneous 95% Cellulose 5% Paint None Detected A92233 Brown,W h ite Fibrous Loosely Bound 032 Shingle Heterogeneous 30% Fiberglass 60% Tar None Detected A92234 Black 10% Gravel Fibrous Bound 033 Shingle Heterogeneous 30% Fiberglass 60% Tar None Detected A92235 Green,Black 10% Gravel Fibrous Bound 034 Shingle Heterogeneous 30% Cellulose 60% Tar None Detected A92236 Gray,Black 10% Gravel Fibrous Bound Page 6 of 7 Page 84 of 557 tiff eurofins CEI LEGEND: Non-Anth = Non-Asbestiform Anthophyllite Non-Trem = Non-Asbestiform Tremolite Calc Carb = Calcium Carbonate METHOD: EPA 600 / R93 / 116 and EPA 600 / M4-82 / 020 REPORTING LIMIT: <1% by visual estimation REPORTING LIMIT FOR POINT COUNTS: 0.25% by 400 Points or 0.1% by 1,000 Points REGULATORY LIMIT: >1% by weight Due to the limitations of the EPA 600 method, nonfriable organically bound materials (NOBs) such as vinyl floor tiles can be difficult to analyze via polarized light microscopy (PLM). EPA recommends that all NOBs analyzed by PLM, and found not to contain asbestos, be further analyzed by Transmission Electron Microscopy (TEM). Please note that PLM analysis of dust and soil samples for asbestos is not covered under NVLAP accreditation. Estimated measurement of uncertainty is available on request. This report relates only to the samples tested or analyzed and may not be reproduced, except in full, without written approval by Eurofins CEI. Eurofins CEI makes no warranty representation regarding the accuracy of client submitted information in preparing and presenting analytical results. Interpretation of the analytical results is the sole responsibility of the client. Samples were received in acceptable condition unless otherwise noted. This report may not be used by the client to claim product endorsement by NVLAP or any other agency of the U.S. Government. Information provided by customer includes customer sample ID and sample description. ANALYST: APPROVED BY: �-'� CassAy Ploch Tianbao Bai, Ph.D., CIH Laboratory Director m V A TESTING NVLAP LAB CODE 101768-0 Page 7 of 7 Page 85 of 557 e u rof i n s CHAIN OF CUSTODY CEILAB USE ONLY: 730 SE Maynard Road, Cary, NC 27511 V CEI Lab Code: Tel: 866-481-1412; Fax: 919-481-1442 ICEI Lab I.D. Range: ;' COMPANY INFORMATION PROJECT INFORMATION CEI CLIENT#: Job Contact: company:Hawkeye Environmental Email/Tel: Address: 814 wood lily road, Solon, IA 52333 Project Name: - Project ID#: rt2 ,. . ��`► Email:Cody@HawkeyeEnv.com PO#: Tel: 319-930-8044 Fax: STATE SAMPLES COLLECTED IN: 1F TAT IS NOT MARKED STANDARD 3 DAY TAT APPLIES. TURN AROUND TIME ASBESTOS METHOD 4 FIR 8 HR 1 DAY 2 DAY 3 DAY 5 DAY PLM BULK EPA 600 ❑ ❑ ❑ M ❑ ❑ PLM POINT COUNT{4C0) EPA 600 ❑ ❑ ❑ ❑ ❑ ❑ PLM POINT COUNT(I COO) EPA 600 ❑ ❑ ❑ ❑ ❑ ❑ PLM ORAV w POINT COUNT EPA 600EJ ❑ El E]PLM BULK CARB 435 _ ❑ ❑ ❑ ❑ ❑ PCM AIR* NIOSH 7400 ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR EPAAHERA ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR NIOSH 7402 ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR(PCME) ISO 10312 ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR ASTM 6281-15 ❑ ❑ ❑ ❑ ❑ ❑ TEM BULK CHATFIELD ❑ ❑ ❑ ❑ ❑ TEM DUST WIPE ASTM 06480-05(2010) ❑ ❑ ❑ ❑ ❑ ❑ TEM DUST MICROVAC ASTM X5755-09(2014) ❑ 0 ❑ ❑ ❑ ❑ TEM SOIL, ASTM 07521-16 ❑ ❑ ❑ ❑ TEM VERMICULITE CINCINNATI METHOD ❑ ❑ ❑ ❑ TEM QUALITATIVE IN-HOUSE METHOD ❑ ❑ 0 ❑ ❑ OTHER: ❑ ❑ ❑ ❑ ❑ ❑ 'Blanks should be taken from the same sample lot as field samples. REMARKS 1 SPECIAL INSTRUCTIONS: WAAccept Samples ❑ Reject Samples Relinquished By. Dater itne Receive DatefTime Samples will be disposed of 30 days after analysis Page 1 of `Z Version: CCOC.01.18.112.L© Page 86 of 557 •ti e u rof i n s SAMPLING FORM I COMPANY CONTACT INFORMATION Company:Nawkeye Environmental Job Contact: Project Name: Project ID#: r y ` _ Tel: VOLUME/ SAMPLE ID# DESCRIPTION I LOCATION AREA 'TEST cc) \ PLM TEM � o c"a T' �r,� PLM 0 TEM C) CA� PLM 0 TEM ^` [mac PLM TEM o p 4j 1 Z PLM TEM PLM 0 TEM Cl r r PLM TEM Z.'' PLM 0 TEM PLM TEM PLM 0 TEM 0 PLM 0 TEM 0 PLM 0 TEM 0 PLM TEM 0 PLM 0 TEM PLM TEM [� PLM [.J TEM 0 C7 PLM TEM 1 sk �. PLM 0 TEM 0 C l i, r 7 t r• \si PLM 0 TEM 0 ZTJ PLM TEM Iz I ( PLM TEM 0 G}ZZ \�� PLM TEM 0 C3Z3 Y' ' P°sPLM U TEM PLM 0 TEM 0 PLM 0 TEM 0 PLM TEM PLM TEM 0 PLM TEM 0 Page 2 of Version: CCOC.01.18.212.LD Page 87 of 557 f ON 1a_ 1 :ti e u rof i n s SAMPLING FORM CEI ti® COMPANY CONTACT INFORMATION Company:Hawkeye Environmental ,lob Contact: Pro ect Name: Project ID#: Tel: VOLUME/ SAMPLE IN DESCRIPTION 1 LOCATION AREA TEST PLM TEM 0 nSu�v��t o n PLM 0 TEM PLM TEM 0 ?jr. PLM 0 TEM PLM 0 TEM 0 LA C,\`� PLM 0 TEM 0 PLM TEM 0 PLM 0 TEM PLM TEM PLM TI=M 0 PLM TEM PLM TEM 0 PLM TEM 0 PLM TEM 0 PLMC] TEM 0 PLM TEM PLM TEM 0 PLM 0 TEM PLM TEM PLM TEM PLM U TEM PLM TEM 0 PLM ] TEM PLM u TEM PLM 0 TEM 0 PLM 0 TEM PLM n TEM PLM (* ] TEM 0 Page _; of 3 Version: CCOC.01.18.212.LD Page 88 of 557 q f 114 E. 10" St. Waterloo, IA Asbestos NESHAP Inspection Prior to Demolition for Asbestos City of Waterloo: Chris Western September 2020 at i. 114 E. lOt` St. Waterloo, IA Old Advanced Auto Parts Our Project # 20-841-04 by: Asbestos Inspections, Testing and Training, Inc. 123 E. Grand Street Monticello, IA 52310 Phone: 319 465-5555 Fax: 319 465-3104 Email: asbestos 121 @gmail.com Page 89 of 557 Executive Summary For: Clu-is Westem City of Waterloo 715 Mulberry Street Waterloo, IA 50703 For: 114 E. 10'x' Street Waterloo, IA 50703 Asbestos Survey and Cost An inspection prior to demolition was requested to satisfy the federal NESHAP (National Emission Standard for Hazardous Air Pollutants)40 CFR Part 61, Sub part M.A thorough inspection was performed according to minimum A.H.E.R.A., protocol. The following asbestos containing materials were identified at the following location. Please note that asbestos-containing materials that may become regulated (RACM) must be removed, prior to demolition/renovation activities that may disturb those materials. All measurements are approximate.Verify. Area Location Material Quantity Category Condition Cost to Remove Showroom blastic in showroom-under tile blastic 1776 sq.ft. CAT I NF I Boiler Joints on boilersystem-approx.50 Mud joints Approx.50 Friable 1 Boiler Approx.600 LF.-some hidden APW Approx.600 LF. Friable 1 Loading Dock Field of loading dock A Bitumen 9,060 sq.i't. CAT I NF I S.Roof Same for entire roof(S)(BI) Field 8,820 sq.ft. CAT 1 NF t N.Roof N.part of roof Flashing 150 LF,approx.. CAT I NF 1 F20 60 -� l Total: $ I P.1-13 GeLK n -------[90601---- ►(. ` 75 - --__� � 1 90 RETAIL = OFFICE 81-Is BRKITILE 147 [88201 OFFICE. Page 90 of 557 Narrative of Inspection An inspection of the above facility was performed on 9-14-20 The inspection was performed at the request of Chris Western who directed the inspector as to what was to be inspected. The inspection was a: E] Full inspection is to satisfy a "demolition" activity under NESHAP and IAC. El Partial Inspection is to satisfy NESHAP's requirement for"renovation only" or for"partial demolition", not for a full building inspection. Notice: This estimate and scope of work does not include air monitoring (before, during and after the project-3`d party) (General Notes&Recommendations) 1) Destructive sampling techniques were not used to gain access above ceilings, below floors, or into walls.A representative number of samples were collected from suspect asbestos containing building materials. 2) Materials similar in appearance,color or texture to those determined to contain asbestos must be assumed to contain asbestos throughout this building whether listed by room or location or not listed but later found. 3) Be advised that the EPA recommends that point count analysis must be performed on floor tile that is determined to be non-asbestos by standard Polarized Light Microscopy(they may also accept the Chatfield method of analysis)(Due to false negatives). 4) Always give IDNR at least 10 working days Notice prior to demolition activities and have Demo Contractor give the Notice for demolition activities(not the owner). 5) Do not start the day before or the day after date of demolition (most common violation). 6) Hidden, obscure,or found materials, must be treated as asbestos unless listed in the bulk sample inventory herein.Call if you are not sure about any material. 7) Interpretation of NESHAP has expanded over the years.We will be happy to resample"new"suspect materials at our regular rate shall the issue arise. 8) Remove all ACM that may become RACM prior to demolition/renovation.The above materials usually qualify as RACK 9) Point Counting(a method of analysis)which costs additional, may be used to eliminate ACM that is 10%or less.There appears to be no pattern on what point counts out; it is however, by law,the final answer to the question is the material asbestos?Point Counting is required for all results 51%to exclude them.Or you may assume that the material is asbestos and remove it.That is the owner's call. If you have any questions about retesting and Point Counting ask the inspector for more information.Yes,it is complicated! 10) Removal of PCB's in ballasts and mercury in fluorescent lite tubes is required by the RCRA federal laws which apply to public,commercial demolition 11) single family to 4-plexes but greater). Region VII EPA may be contacted for further information at: 915 551-7602, Mr. Larry Hacker,Administrator. INSPECTOR'S NOTES: 1.A little tricky.See Beacon. 2 different roofs. 2.Cedar Valley Lumber Building abuts this building from rear. 3. Look at beacon to get your bearings. 1 Page 91 of 557 a 0 N N a N a a s f Q O U O O O O O LLJ Ln Q ❑ ,� tD U * * Z Y U V V U U m ❑ d' Q a 0 0 0 D \ o O ❑ ❑ ❑ 0 4 o c e LA Z Z Z IG Z Z Z Z N N Z Z Z Z Z z � rq Z y _ fn -0 m > ua ° ° o El oZ V Ul N a O r-[ N m Ln kD C Q = O C -1 .--I N M M LD e-1 N xN C v o V rtl ' cu N 0 b bb r4 ObQ ° e0 C XI CL a ce d cls 4.hi ° R � .� = i T i I I µ �S .... a.a...µ � � w' ..ci• -.0.�., ' i 105 E. 11" St. Waterloo, IA Asbestos NESHAP Inspection Prior to Demolition for Asbestos City of Waterloo: Chris Western September 2020 at 1.05 E. I1��' St. Waterloo IA Old Cedar Valley Lumber Co. Our Project It 20-841-05 by: E Asbestos Inspections, Testing and Training, Inc. 123 E. Grand Street Monticello, IA 52310 Phone: 319 465-5555 Fax: 319 465-3104 Email: asbestos121@gmail.com Page 93 of 557 is Executive Summary For: Clods Western ................... City of Waterloo 715 Mulberry Street Waterloo,IA 50703 For: 105 F. 11`t' Street Waterloo, IA 50703 Asbestos Survey and Cost An inspection prior to demolition was requested to satisfy the federal NESHAP (National Emission Standard for Hazardous Air Pollutants) 40 CFR Part 61, Sub part M.A thorough inspection was performed according to minimum A.H.E.R.A., protocol.The following asbestos containing materials were identified at the following location. Please note that asbestos-containing materials that may become regulated (RACM) must be removed, prior to demolition/renovation activities that may disturb those materials. All measurements are approximate.Verify. Area Location Material Quantity Category Condition Cost to Remove Roof Part A-1s1 of 3 layers Shin le 7,437 sq.ft. CAT I NF 3 Roof Part A-third of 3 layers 59x126 Felt Inc. CAT I NF 3 NE B Part B-NE corner of N/S section 52 LF.Flashing Inc. CAT I NF 3 J. Black Hawk County Detailed Parcel Report 59 so 131-iS CBLK zs t2osoi Total: $ S11 A2AS[9 UPOLE NAG MTL1POLE 1N 173341 } - f i I 1 f II � l i i Page 94 of 557 Narrative of Inspection An inspection of the above facility was performed on 9-14-20 The inspection was performed at the request of 4...... Chris Western who directed the inspector as to what was to be inspected.The inspection was a: F1 l=ull inspection is to satisfy a "demolition" activity under NESHAP and IAC. �.] Partial Inspection is to satisfy NESHAP's requirement for"renovation only" or for"partial demolition", not for a full building inspection. Notice:This estimate and scope of work does not include air monitoring(before, during and after the project-3rd party) (General Notes&Recommendations) 1) Destructive sampling techniques were not used to gain access above ceilings, below floors, or into walls.A representative number of samples were collected from suspect asbestos containing building materials. 2) Materials similar in appearance,color or texture to those determined to contain asbestos must be assumed to contain asbestos throughout this building whether listed by room or location or not listed but later found. 3) Be advised that the EPA recommends that point count analysis must be performed on floor tile that is determined to be non-asbestos by standard Polarized Light Microscopy(they may also accept the Chatfield method of analysis)(Due to false negatives). 4) Always give IDNR at least 10 working days Notice prior to demolition activities and have Demo Contractor give the Notice for demolition activities(not the owner). 5) Do not start the day before or the day after date of demolition(most common violation). 6) Hidden,obscure,or found materials, must be treated as asbestos unless listed in the bulk sample inventory herein. Call if you are not sure about any material. 7) Interpretation of NESHAP has expanded over the years. We will be happy to resample"new"suspect materials at our regular rate shall the issue arise. 8) Remove all ACM that may become RACM prior to demolition/renovation.The above materials usually qualify as RACM. 9) Point Counting(a method of analysis)which costs additional, may be used to eliminate ACM that is 10%or less.There appears to be no pattern on what point counts out;it is however, by law,the final answer to the question is the material asbestos? Point Counting is required for all results<1%to exclude them.Or you may assume that the material is asbestos and remove it.That is the owner's call. If you have any questions about retesting and Point Counting ask the inspector for more information.Yes,it is complicated! 10) Removal of PCB's in ballasts and mercury in fluorescent lite tubes is required by the RCRA federal laws which apply to public,commercial demolition 11) single family to 4-plexes but greater). Region VII EPA may be contacted for further information at: 915 551-7602, Mr. Larry Hacker,Administrator. INSPECTOR'S NOTES: 1. Roof gone around edges of building A-about 2' missing all around 2.A. Building is pitched. B building is flat roof. 3.Confusing with 114 E. 101h Street,which is right on top of this address. 4. 2 layers in A building are asbestos-take all. Roof is dangerous(A) 5. B Roof was negative for field, positive for flashing. Page 95 of 557 C> 0 0 0 0 0 Cl 0 0 0 0 0 0 0 0 o a 0 0 a o a o 0 o rn 10 141 1,0 m 0 1.0 0 111 1nrV �n 10 10 I 10 lD +a 1O 10 `0 t0.n ON N NN J r + + . CP A A ? A E W Of'1 O? 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A R R R R R N Page 96 of 557 EXHIBIT "C" ASBESTOS ABATEMENT SERVICES CONTRACT #AB-2021-12-4P 928 Mulberry Street, 1526 E 4th Street, 114 E 10th Street, and 105 E 11th Street This Contract for Asbestos Abatement Services (the "Contract") is entered into as of December 6, 2021, by and between the City of Waterloo, Iowa("City") and In consideration of the mutual promises exchanged herein, the parties agree as follows: 1. Term and Services. For the period of December 6, 2021 thru February 28, 2022, subject to extension upon the mutual written agreement of the parties, the Contractor agrees to furnish all tools, labor and materials, and perform and substantially complete all work within the time period stated in the specifications after receipt of Notice to Proceed with respect to a given property or set of properties. By executing this Contract, Contractor certifies that it holds an asbestos permit issued by the Iowa Division of Labor and that all personnel who perform work on the project will have an asbestos license issued by the Iowa Division of Labor. Contractor agrees that such permit and licenses will be maintained during the term of this Contract. Work to be performed includes all work described in the Contract Documents (defined below). Contractor shall provide the above services at the cost set forth in the Contractor's RFB response. Contractor's request for payment for services authorized under this Contract shall be submitted in accordance with the Contract Documents and will be paid within forty-five (45) days after receipt of an original invoice and after such services are delivered and accepted and all necessary supporting documentation is submitted. Contractor will be paid for all items satisfactorily completed. Such payment will be full compensation for asbestos removal and disposal, for all permits, licenses, inspections, for complying with all laws, rules, regulations and ordinances, including safety, and for furnishing all materials, equipment and labor to complete the work in accordance with the plans and specifications. 2. Contract Documents. The following documents (collectively, the "Contract Documents") are hereby incorporated by reference as though set forth herein in full: a. Request for Bid b. Addenda(if any) c. Response (Proposal) from the Contractor In the event of conflict between the provisions of the Contract Documents and this Contract, the provisions of this Contract shall prevail. 2.1 Contract Limits. Total actual expenses allowed by the project Contract, including any renewal extensions of the Contract, shall not exceed$ as provided in the Bid Tabulation that is part of Contractor's RFB Response referenced in Section 2.c above, except by written amendment as provided herein. 3. Approval; Timing of Work. Contractor shall not begin work until after the Contract has been approved by the City Council and the Contractor has been issued a Notice to Page 97 of 557 Proceed. The work shall commence within ten(10) days after the City has issued a Notice to Proceed with respect to any particular property or set of properties, and all work shall be completed and delivered within the term of the Contract. 4. Performance Bond. Not required for this Contract. 4.1 Payment Bond. Not required for this Contract. 5. Resorting; Records. Contractor shall exercise best efforts to maintain communication with City personnel whose involvement in the project is necessary or advisable for successful and timely completion of the work of the project. Communications between the parties shall be verbal or in writing, as requested by the parties or as dictated by the subject matter to be addressed. Contractor shall maintain all project records for a minimum period of three (3) years after the date of final payment for services rendered under this Contract. During the term of this Contract and for the ensuing record-retention period, Contractor shall make any or all project records available upon reasonable request, and in any event within two (2)business days of request, to City, and any other agency of state or federal government. For purposes of this section, "records"means any and all books, documents, papers and records of any type or nature that are directly pertinent to this Contract. Contractor agrees to furnish,upon termination of this Contract and upon demand by the City, copies of all basic notes and sketches, charts, computations, and any other data prepared or obtained by the Contractor pursuant to this Contract, without cost and without restrictions or limitation as to the use relative to specific projects covered under this Contract. In such event, the Contractor shall not be liable for the City's use of such documents on other projects. 6. Re-inspection Costs. The contractor that performed the asbestos surveys for the properties (Exhibit`B"to the RFB)will inspect the properties for proper removal of ACM. If the abatement Contractor fails to remove all ACM that requires any re-inspection by the survey contractor, the abatement Contractor shall be responsible to pay(directly to the survey contractor) any and all fees associated with said re-inspection. 7. Indemnity. Except as to any negligence of City, its officials, officers, employees or agents, in the performance of any duty under this Contract, and to the extent not covered by insurance maintained by Contractor, Contractor agrees to defend and indemnify City, its officials, officers, employees and agents, and to hold same harmless, from and against any and all claims, demands, causes of action, losses, costs, or liabilities whatsoever, including but not limited to reasonable attorneys' fees and expenses, arising from or in connection with the acts or omissions of Contractor in providing the services contemplated by this Contract. This will include but is not limited to actions or suits based upon or alleging bodily injury, including death, or property damage rising out of or resulting from the Contractor's operation under this Contract, whether by itself or by any subcontractor or anyone directly or indirectly employed by any of them. Contractor is not and shall not be deemed an agent or employee of the City. 8. Default; Termination for Cause. In the event that Contractor defaults in the performance or observance of any covenant, agreement or obligation set forth in this Contract, and if such default remains uncured for a period of seven(7)days after notice thereof shall have been given by City to Contractor(or for a period of fourteen(14) days after such notice if such default is curable but requires acts to be done or conditions to be remedied which,by their nature, cannot be 2 Page 98 of 557 done or remedied within such 14-day period and thereafter Contractor fails to diligently and continuously prosecute the same to completion within such 14-day period),then City may declare that Contractor is in default hereunder and may take any one or more of the following steps, at its option: a. by mandamus or other suit, action or proceeding at law or in equity,require Contractor to perform its obligations and covenants hereunder, or enjoin any acts or things which may be unlawful or in violation of the rights of the City hereunder, or obtain damages caused to the City by any such default; b. have access to and inspect, examine and make copies of all books and records of Contractor which pertain to the project; C. declare a default of this Contract,make no further disbursements, and demand immediate repayment from Contractor of any funds previously disbursed under this Contract; d. terminate this Contract by delivery to Contractor of written notice of termination; and/or e. take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor hereunder, including but not limited to the recovery of funds. No delay in enforcing the provisions hereof as to any breach or violation shall impair, damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suit or other enforcement action hereunder, Contractor agrees to pay the reasonable attorneys' fees and expenses incurred by City. 9. Termination for Convenience. This Contract may be terminated at any time, in whole or in part, upon the mutual written agreement of the parties. City may also choose to terminate this Contract at any time by delivering to Contractor 10-days' advance written notice of intent to terminate. 10. Non-Assignable Duties. Contractor may not assign its duties hereunder without the prior written consent of City. 11. Independent Contractor. Contractor is an independent contractor and is not an employee, servant, agent, partner, or joint venturer of City. Contractor has no power or authority to enter into contracts or agreements on behalf of City. City shall determine the work to be done by Contractor,but Contractor shall determine the legal means by which it performs the work specified by City. City is not responsible for withholding, and shall not withhold, FICA or taxes of any kind from any payments which it owes Contractor. Neither Contractor nor its employees, if any, shall be entitled to receive any benefits which employees of City are entitled to receive and shall not be entitled to workers' compensation, unemployment compensation, medical insurance, life insurance, pension, or any benefits of any type or nature whatsoever on account of 3 Page 99 of 557 their work for City. Contractor shall be solely responsible for compensating its employees, if any. 12. Anti-Discrimination. During the performance of this Contract, Contractor, for itself, its assignees and successors in interest, agrees to comply with the anti-discrimination laws of the State of Iowa, as contained in Sections 19B, 551.4 of the Code of Iowa, which are herein incorporated by reference and made a part of this Contract. 13. Severability. In the event any provision of this Contract, together with the Contract Documents, is held invalid, illegal, or unenforceable, whether in whole or in part, the remaining provisions of this Contract shall not be affected thereby and shall continue in full force and effect. If, for any reason, a court finds that any provision of this Contract is invalid, illegal, or unenforceable as written, but that by limiting such provision it would become valid, legal, and enforceable, then such provision shall be deemed to be written and shall be construed and enforced as so limited. 14. General Terms. This Contract, together with the Contract Documents, constitutes the entire agreement between the parties pertaining to the subject matter hereof. This Contract may not be modified or amended except pursuant to the mutual written agreement of the parties. This Contract is binding on the parties and the heirs, personal representatives, successor and assigns of each. Time is of the essence in the performance of the terms hereof. IN WITNESS WHEREOF, the parties have executed this Contract for Asbestos Abatement Services as of the date first set forth above. CITY OF WATERLOO, IOWA CONTRACTOR By: Quentin Hart, Mayor Authorized Representative Attest: Kelly Felchle, City Clerk 4 Page 100 of 557 CITY OF WATERLOO Council Communication Resolution approving the City of Waterloo Annual Financial Report for the Fiscal Year ended June 30, 2021, and authorizing the publication of the report and submission to the State of Iowa. City Council Meeting: 11/15/2021 Prepared: 11/10/2021 ATTACHMENTS: Description Type ❑ Council Comm FYE21 Annual Financial Report Backup Material ❑ FYE21 Annual Report Page One Backup Material ❑ FYE21 Annual Report Pages 2 to 10 Backup Material Resolution approving the City of Waterloo Annual Financial Report for the SUBJECT: Fiscal Year ended June 30, 2021, and authorizing the publication of the report and submission to the State of Iowa. Submitted by: Submitted By: Michelle Weidner, Chief Financial Officer The City Annual Financial Report format is similar to the annual budget filing required by the state. Information in this report will be shared with the office of the Iowa Auditor of State, the U.S. Bureau of the Census, various public interest groups and other state and federal agencies. Summary Statement: This report was prepared using a modified cash basis of accounting, which is the method that the City uses for budgeting. Additional information regarding the performance of city funds will be provided when the comprehensive annual financial report is completed. At this time, we expect that to be completed in late December/early January. Page 101 of 557 CITY OF WATERLOO , IOWA CITY CLERK AND FINANCE DEPARTMENT 715 Mulberry St. Waterloo, IA 50703 • (319)291-4323 Fax(319)291-4571 KELLEY FELCHLE • City Clerk MICHELLE WEIDNER,CPA • Chief Financial Officer Mayor QUENTIN Council Communication HART City Council Meeting: November 15, 2021 Prepared: November 10, 2021 COUNCIL Dept. Head Signature: Michelle Weidner MEMBERS ................... Number of Attachments: 1 MARGARET KLEIN SUBJECT: Resolution approving the Cit of Waterloo Wards pp g Y Annual Financial Report for the Fiscal Year JONATHAN Ended June 30, 2021 GREIDER Ward Submitted by: Michelle Weidner, Chief Financial Officer PATRICK MORRISSEY Ward Recommended City Council Action: I request that the City Council approve the City of Waterloo Annual Financial Report for the Fiscal Year Ended June 30, JEROME 2021 and authorize publication of the report and submission to the State of Iowa. AMOS,JR. Ward Summary Statement: The City Annual Financial Report format is similar to the RAY annual budget filing required by the state. Information in this report will be shared FEUSS with the office of the Iowa Auditor of State, the U.S. Bureau of the Census, various Wards public interest groups and other state and federal agencies. SHARON This report was prepared using a modified cash basis of accounting, which is the JUON method that the City uses for budgeting. Additional information regarding the At-Large performance of city funds will be provided when the comprehensive annual DAVE financial report and audit is completed. At this time, we expect that to be BOESEN completed in late- December. At-Large Expenditure Required: None Source of Funds: N/A Policy Issue: None Alternative: None Background Information: None WE'RE WORKING FOR YOU! An Equal Opportunity/Affirmative Action Employer Page 102 of 557 11/10/21,4:16 PM Local Government Property Valuation System STATE OF IOWA 2021 FINANCIAL REPORT 16200701000000 CITY OF WATERLOO FISCAL YEAR ENDED 715 Mulberry Street JUNE 30,2021 WATERLOO IA 50703-5783 POPULATION:67314 CITY OF WATERLOO,IOWA DUE:December 1,2021 NOTE-The information supplied in this report will be shared by the Iowa State Auditor's Office,the U.S.Census Bureau,various public interest groups,and State and federal agencies. ALL FUNDS Governmental (a) Proprietary (b) Total Actual (c) Budget (d) Revenues and Other Financing Sources Taxes Levied on Property 42,700,728 42,700,728 42,422,199 Less:Uncollected Property Taxes-Levy Year 0 0 0 Net Current Property Taxes 42,700,728 42,700,728 42,422,199 Delinquent Property Taxes 290,135 290,135 0 TIF Revenues 10,101,233 10,101,233 9,388,510 Other City Taxes 20,360,825 0 20,360,825 20,398,441 Licenses and Permits 1,397,497 17,655 1,415,152 1,434,585 Use of Money and Property 1,596,672 10,999 1,607,671 1,998,872 Intergovernmental 42,467,704 275,997 42,743,701 39,450,773 Charges for Fees and Service 10,436,698 22,372,650 32,809,348 34,285,576 Special Assessments 215,170 0 215,170 250,000 Miscellaneous 9,389,665 251,816 9,641,481 8,603,760 Other Financing Sources 21,048,958 18,530,403 39,579,361 473060,000 Transfers In 19,853,415 0 19,853,415 24,860,514 Total Revenues and Other Sources 179,858,700 41,459,520 221,318,220 230,153,230 Expenditures and Other Financing Uses Public Safety 35,865,343 35,865,343 373259,429 Public Works 37,202,342 37,202,342 43,639,069 Health and Social Services 284,836 284,836 3233760 Culture and Recreation 10,066,047 10,0663047 123237,173 Community and Economic Development 13,723,687 13,723,687 22,619,040 General Government 10,450,936 10,450,936 11,432,986 Debt Service 22,615,474 22,615,474 22,737,973 Capital Projects 26,171,846 26,171,846 343641,834 Total Governmental Activities Expenditures 156,380,511 0 156,380,511 184,891,264 BUSINESS TYPE ACTIVITIES 33,872,642 33,872,642 49,456,812 Total All Expenditures 156,380,511 33,872,642 190,253,153 234,348,076 Other Financing Uses 0 0 0 Transfers Out 14,589,444 5,263,971 19,853,415 24,860,514 Total All Expenditures/and Other Financing Uses 170,969,955 39,136,613 210,106,568 259,208,590 Excess Revenues and Other Sources Over(Under) Expenditures/and Other Financing Uses 8,888,745 2,322,907 11,211,652 -29,055,360 Beginning Fund Balance July 1,2020 92,931,304 16,361,979 109,293,283 1 96,198,146 Ending Fund Balance June 30,2021 101,820,049 18,684,886 120,504,9351 67,142,786 NOTE-These balances do not include the following,which were not budgeted and are not available for city operations: Non-budgeted Internal Service Funds ension Trust Funds Private Purpose Trust Funds gency Funds 25,957 Indebtedness at June 30,2021 Amount Indebtedness at June 30,2021 Amount General Obligation Debt 103,400,000 Other Long-Term Debt 0 Revenue Debt 17,403,732 Short-Term Debt 0 TIF Revenue Debt 5,913,513 General Obligation Debt Limit 203,066,548 CERTIFICATION The forgoing report is correct to the best of my knowledge and belief Publication Si afore of Preparer Printed name of Preparer hone Number Michelle Weidner,CPA,CFO (319)291-4323 Date Signed Si nature of Mayor or other City official(Name and Title PLEASE PUBLISH THIS PAGE ONLY Page 103 of 557 https:Hdom-localgov.iowa.gov/afr?id=4832 1110 REVENUE P2 N CITY OF WATERLOO iz a REVENUE AND OTHER FINANCING SOURCES FOR YEAR ENDED JUNE 30,2021 0 o i B NON-GAAP/CASH BASIS 0 Item Description General Special TIF Special Debt Capital Permanent Total Governmental (Sum of(a) Proprietary Grand Total (Sum of(g) N (a) Revenue (b) Revenue (c) Service (d) Projects (e) (f) through(f)) (g) (h) and(h)) (i) oSection A-Taxes 1 1 0 Taxes levied on property 2 22,585,392 13,057,558 7,057,778 42,700,728 42,700,728 2 Less:Uncollected Property Taxes-Levy Year 3 0 0 3 o Net Current Property Taxes 4 22,585,392 13,057,558 7,057,778 0 0 42,700,728 42,700,728 4 Delinquent Property Taxes 5 149,534 86,790 53,811 290,135 290,135 5 Total Property Tax 6 22,734,926 13,144,348 7,111,589 0 0 42,990,863 42,990,863 6 •J o IF Revenues 7 10,101,233 10,101,233 10,101,233 7 ib Other City Taxes N Utility Tax Replacement Excise Taxes 8 793,435 460,892 220,399 1,474,726 1,474,726 8 Utility Franchise Tax(Chapter 364.2,Code of Iowa) 9 4,563,411 4,563,411 4,563,411 9 Parimutuel Wager Tax 10 0 0 10 Gaming Wager Tax 11 1,314,676 1,314,676 1,314,676 11 Mobile Home Tax 12 45,012 25,822 12,515 83,349 83,349 12 Hotel/Motel Tax 13 837,172 837,172 837,172 13 Other Local Option Taxes 14 200,676 11,886,815 12,087,491 12,087,491 14 Total Other City Taxes 15 7,754,382 12,373,529 232,914 0 0 20,360,825 0 20,360,825 15 Section B-Licenses and Permits 161 1,371,764 25,733 1,397,497 17,655 1,415,152 16 Section C-Use of Money and Property 17 17 Interest 18 60,708 31,092 9,587 7,272 16,687 125,346 10,999 136,345 18 o Rents and Royalties 19 1,022,501 189,856 44,000 1,256,357 1,256,357 19 9 Other Miscellaneous Use of Money and Property 20 214,969 214,969 214,969 20 0 21 0 0 21 m Total Use of Money and Property 22 1,083,209 220,948 9,587 266,241 16,687 0 1,596,672 10,999 1,607,671 221 3 Section D-Intergovernmental24 24 Federal Grants and Reimbursements 26 26 Federal Grants 27 17,377,190 1,081,509 18,458,699 18,458,6991-2T 0 Community Development Block Grants 28 2,036,990 2,036,990 2,036,990 28 -a � Housing and Urban Development 29 6,148,340 6,148,340 6,148,340 29 Public Assistance Grants 30 42,169 318 42,487 2,373 44,860 30 v Payment in Lieu of Taxes 31 0 0 31 321 0 0 32 Total Federal Grants and Reimbursements 331 17,419,3591 9,267,157 0 01 0 26,686,516 2,373 26,688,889 33 U m m B N Page 104 of 557 � REVENUE P3 CITY OF WATERLOO n REVENUE AND OTHER FINANCING SOURCES FOR YEAR ENDED.TUNE 30,2021 3 NON-GAAP/CASH BASIS 0 Item Description General Special TIF Special Debt Capital Permanent Total Governmental (Sum of(a) Proprietary Grand Total (Sum of(g) N 0 p (a) Revenue (b) Revenue (c) Service (d) Projects (e) (t) through(f)) (g) (h) and(h)) (i) M o Section D-Intergovernmental-Continued 41 41 State Shared Revenues 43 0 43 Road Use Taxes 44 10,237,796 10,237,796 10,237,796 44 o Other state grants and reimbursements 48 48 State grants 49 44,015 108,441 152,456 152,456 49 v Iowa Department of Transportation 50 1,846,184 1,846,184 1,846,184 50 DL Iowa Department of Natural Resources 51 0 0 51 00 Iowa Economic Development Authority 52 5,000 5,000 5,000 52 nwi CEBA grants 53 0 0 53 Commercial&Industrial Replacement Claim 54 868,423 504,451 126,030 251,299 1,750,203 1,750,203 54 City share-state beer and liquor taxes 551 18,890 18,890 1 18,890 55 56 0 0 56 57 0 0 57 58 0 0 58 59 10 o 59 Total State 60 931,328 12,696,872 126,030 251,299 5,000 0 14,010,529 0 14,010,529 60 Local Grants and Reimbursements County Contributions 63 0 0 63 Library Service 64 58,329 58,329 58,329 64 0- Township Township Contributions 65 45,635 45,635 45,635 65 v Fire/EMT Service 66 0 0 66 G) 0 School Resource Officers 67 290,370 290,370 290,370 67 < CD Other state grants and reimbursements 68 3,522 736,204 636,599 1,376,325 1,376,325 68 3 Other local grants and reimbursements 69 0 273,624 273,624 69 m Total Local Grants and Reimbursements 70 397,856 736,204 0 0 636,599 0 1,770,659 273,624 2,044,283 70 .D Total Intergovernmental(Sum of lines 33,60, 71 18,748,543 22,700,233 126,030 251,299 641,599 0 42,467,704 275,997 42,743,701 71 -0 and 70) (D Section E-Charges for Fees and Service 7272 � Water 73 0 0 73 v Sewer 74 0 13,895,976 13,895,976 74 v Electric 75 0 0 75 0 Gas 76 00 0 76 C/) Parking 77 385,478 385,478 385,478 77 Airport 78 123,771 28,841152,612 152,612 78 m Landfill/garbage 79 0 5,762,948 5,762,948 79 Hospital 1801 0 0 80 w C. Page 105 of 557 REVENUE P4 CITY OF a REVENUE AND OTHER FINANCING SOURCES FOR YEAR ENDED JUNE 30, N 3 NON-GAAP/CASH BASIS j a o Item Description General Special TIF Special Debt Capital Permanent Total Governmental (Sum of(a) Proprietary Grand Total (Sum of rn (a) Revenue (b) Revenue (c) Service (d) Projects (e) (f) through(f)) (g) (h) (g)and(h)) (i) o Section E-Charges for Fees and Service- 81 81 < Continued ° Transit 82 0 0 82 °1 Cable TV 83 0 0 83 cn o Internet 84 0 0 84 v Telephone 85 0 0 85 0- Housing Authority 86 0 0 86 a Storm Water 87 0 2,713,726 2,713,726 87 °°co Other: 88 gg N Nursing Home 89 0 0 89 Police Service Fees 90 494,168 494,168 1 494,168 90 Prisoner Care 911 0 10 91 Fire Service Charges 92 158,290 158,290 158,290 92 Ambulance Charges 93 4,730,278 4,730,278 4,730,278 93 Sidewalk Street Repair Charges 94 242,591 242,591 242,591 94 Housing and Urban Renewal Charges 95 310,354 310,354 310,354 95 River Port and Terminal Fees 96 0 0 96 Public Scales 97 0 0 97 Cemetery Charges 98 0 0 98 Library Charges 99 2,851 2,851 2,851 99 tori Park,Recreation,and Cultural Charges 100 2,901,071 2,901,071 2,901,071 100 41 Animal Control Charges 101 0 0 101 0 102 0 0 102 D Service Charges-Planning,Engineering,Traffic, 103 969,866 89,139 1,059,005 1,059,005 103 3 Street 7 m Total Charges for Service 104 10,008,364 428,334 0 0 0 0 10,436,698 22,372,650 32,809,348 104 Section F-Special Assesments 106 215,170 215,170 215,170 106 0 Section G-Miscellaneous 107 107 m Contributions 108 277,965 1,595,260 1,873,225 1,873,225 108 Deposits and Sales/Fuel Tax Refunds 109 50,068 20,160 70,228 70,228 109 w Sale of Property and Merchandise 110 0 0 110 v Fines 111 949,128 949,128 949,128 111 3 Internal Service Charges 112 3,327,766 50,000 3,377,766 3,377,766 112 c/) 113 0 0 113 Insurance Refunds 114 2,013,928 2,013,928 2,013,928 114 m 3 Employee/Retiree Health Plan Contributions 115 772,480 7,626 780,106 251,816 1,031,922 115 Other Miscellaneous 116 116,196 116,196 116,196 116 Refund from Developer 117 209,0881 209,088 209,088 117 118 0 0118 119 0 0 119 Total Miscellaneous 120 7,507,531 77,786 209,088 0 1,595,260 0 9,389,665 251,816 9,641,481 120 A Page 106 of 557 REVENUE P5 CITY OF a REVENUE AND OTHER FINANCING SOURCES FOR YEAR ENDED JUNE 30, Co 3 NON-GAAP/CASH BASIS ° Debt v Item Description General (aSpecial SpecialServiCapital Permanent Total Governmental (Sum of Proprietary Grand Total Sum of rn Revenue (b) Revenue (c) (d) Projects (e) (f) (a)through( ) (g) h (g)and(r)) (i)co 0 if Total All Revenues(Sum of lines 6,7,15,16,22, 121 69,423,889 48,970,911 10,445,938 7,862,043 2,253,546 0 138,956,327 22,929,117 161,885,444 121 6 71,104,106,and 120) P Section H-Other Financing Sources 123 123 co o Proceeds of capital asset sales 124 341,462 341,462 341,462 124 v Proceeds of long-term debt(Excluding TIF internal 125 6,601,602 14,105,894 20,707,496 18,530,403 39,237,899 125 borrowing) 0. Proceeds of anticipatory warrants or other short-term 126 0 0 126 co debt N Regular transfers in and interfund loans 127 9,283,129 5,363,791 14,646,920 14,646,920 127 Internal TIF loans and transfers in 128 0 2,908,523 2,297,972 5,206,495 5,206,495 128 129 0 0 129 130 0 0 130 Total Other Financing Sources 131 9,624,591 0 0 14,873,916 16,403,866 0 40,902,373 18,530,403 59,432,776 131 Total Revenues Except for Beginning Balances 132 79,048,480 48,970,911 10,445,938 22,735,959 18,657,412 0 179,858,700 41,459,520 221,318,220 132 (Sum of lines 121 and 131) Beginning Fund Balance July 1,2020 134 25,115,377 37,595,467 2,543,361 847,418 26,829,681 92,931,3041 16,361,979 1 109,293,283 134 Total Revenues and Other Financing Sources 136 104,163,857 86,566,378 12,989,299 23,583,377 45,487,093 0 272,790,004 57,821,499 330,611,503 136 (Sum of lines 132 and 134) 0 0 n� G7 0 M 3 3 m 0 0 -0 m ni c w o' 0 m M 3 CD Page 107 of 557 EXPENDITURES P6 m CITY OF WATERLOO n EXPENDITURES AND OTHER FINANCING USES FOR FISCAL YEAR ENDED JUNE 30,2021 N 0 NON-GAAP/CASH BASIS General Special TIF Special Debt Capital Permanent Total Governmental Sum of cols. a Proprietary Grand Total Sum of o Item Description Line ( ( ) p Y ( N a Revenue b Revenue(c) Service d Projects a ) Line ) i through (1i) col. M cQ Section A-Public Safety 1 1 o Police Department/CrimePrevention 2 16,531,462 2,456,677 18,988,139 18,988,139 2 0 Jail 3 0 0 3 Emergency Management 4 95,809 95,809 95,809 4 0 Flood control 5 0 0 5 v Fire Department 6 10,281,172 2,049,650 12,330,822 12,330,822 6 Ambulance 7 3,205,841 3,205,841 3,205,841 7 u Building Inspections 8 1,244,732 1,244,732 1,244,732 8 00 Miscellaneous Protective Services 9 0 0 9 N Animal Control 10 0 0 10 Other Public Safety 11 0 0 I 1 12 0 0 12 13 0 0 13 Total Public Safety, 14 31,359,016 4,506,327 0 0 0 35,865,343 35,865,343 14 Section B-Public Works 15 is Roads,Bridges,Sidewalks 16 406,041 26,364,515 26,770,556 26,770,556 16 Parking Meter and Off-Street 17 351,144 351,144 351,144 17 Street Lighting 18 531,599 531,599 531,599 18 Traffic Control Safety 19 1,545,054 1,545,054 1,545,054 19 Snow Removal 20 1,577,107 1,577,107 1,577,107 20 Highway Engineering 21 0 0 21 Street Cleaning 22 0 0 22 v Airport(if not an enterprise) 23 1,060,458 1,294,332 2,354,790 2,354,790 23 Garbage(if not an enterprise) 24 0 0 24 Other Public Works 25 0 0 25 MET Bus Transit 26 1,485,152 1,485,152 1,485,152 26 � Central Garage 27 2,586,940 2,586,940 2,586,940 27 Total Public Works 28 5,889,735 31,312,607 0 0 0 37,202,342 37,202,342 28 Section C-Health and Social Services 29 29 0 Welfare Assistance 30 0 0 30 City Hospital 31 0 0 31 Payments to Private Hospitals 32 0 0 32 9 Health Regulation and Inspections 33 0 0 33 cm Water,Air,and Mosquito Control 34 0 0 34 0 Community Mental Health 35 0 0 35 in Other Health and Social Services 36 284,836 284,836 284,836 36 37 0 0 37 38 0 0 38 Total Health and Social Services 39 284,836 0 0 0 0 284,836 284,836 39 Section D-Culture and Recreation 40 40 Library Services 41 2,580,020 2,580,020 2,580,020 41 Museum,Band,Theater 42 1,066,640 1,066,640 1,066,640 42 Parks 43 2,742,737 2,742,737 2,742,737 43 Recreation 44 2,907,085 2,907,085 2,907,085 44 Cemetery 45 50,000 50,000 50,000 45 Community Center,Zoo,Marina,and Auditorium 46 719,565 719,565 719,565 46 Other Culture and Recreation 47 0 0 47 48 0 0 48 49 0 0 49 Total Culture and Recreation 50 10,066,047 0 0 01 01 10,066,047 10,066,047 50 rn Page 108 of 557 P* EXPENDITURES P7 CITY OF o EXPENDITURES AND OTHER FINANCING USES FOR FISCAL YEAR ENDED JUNE 30,--Continued N 3 NON-GAAP/CASH BASIS General Special TIF Special Debt Capital Permanent Total Governmental (Sum of cols. Proprietary Grand Total Sum rn Item description Line (a) Revenue (b) Revenue (c) Service Projects (e) (f) (a)through(f)) (g) (h) of col.(g))((i) Line T ca 0 51 Section E-Community and Economic 51 Development Community beautification 52 0 0 52 o Economic development 53 1,270,045 88 1,270,133 1,270,133 53 °h Housing and urban renewal 54 3,812 8,052,898 8,056,710 8,056,710 54 Planning and zoning 55 691,327 691,327 691,327 55 W Other community and economic development 56 1,091,182 185,000 1,276,182 1,276,182 56 00 TIF Rebates 57 2,429,335 2,429,335 2,429,335 57 N 58 0 0 58 Total Community and Economic 59 3,056,366 8,052,986 2,614,335 0 0 0 13,723,687 13,723,687 59 Development Section F-General Government 60 60 Mayor,Council and City Manager 61 899,978 899,978 899,978 61 Clerk,Treasurer,Financial Administration 62 1,203,105 1,203,105 1,203,105 62 Elections 63 0 0 63 Legal Services and City Attorney 64 303,134 303,134 303,134 64 City Hall and General Buildings 65 590,538 590,538 590,538 65 Tort Liability 661 1,710,547 1,710,547 1,710,547 66 Other General Government 671 5,733,633 10,001 5,743,634 15,743,634 67 r- 68 0 0 68 v 69 1 0 0 69 Total General Government 70 10,440,935 10,001 0 0 0 10,450,936 10,450,936 70 ° Section G-Debt Service 71 22,615,474 22,615,474 22,615,474 71 3 72 0 0 72 m 73 0 0 73 Total Debt Service 74 0 0 0 22,615,474 0 0 22,615,474 22,615,474 74 0 Section H-Regular Capital Projects-Specify 75 75 m Infrastructure and Buildings 76 2,385,682 13,558,607 15,944,289 15,944,289 76 Vehicles and Equipment 77 2,209,350 2,209,350 2,209,350 77 w Subtotal Regular Capital Projects 78 0 2,385,682 0 15,767,957 0 18,153,639 18,153,639 78 v TIF Capital Projects-Specify 79 79 6' Property Acquisition,Street Construction 80 8,018,207 8,018,207 8,018,207 80 3 81 0 0 81 Subtotal TIF Capital Projects 82 0 0 0 8,018,207 0 8,018,207 8,018,207 82 m Total Capital Projects 83 0 2,385,682 0 23,786,164 0 26,171,846 26,171,846 83 Total Governmental Activities Expenditures 84 61,096,935 46,267,603 2,614,335 22,615,474 23,786,164 0 156,380,5111 156,380,511 84 (Sum of lines 14,28,39,50,59,70,74,83) 1 851 85 TIF Rebates are expended out of the TIF Special Revenue Fund within the Cormnunity and Economic Development program's activity"Other" v CD Page 109 of 557 EXPENDITURES P8 CITY OF 3 n EXPENDITURES AND OTHER FINANCING USES FOR FISCAL YEAR ENDED JUNE 30,--Continued N 3 NON-GAAP/CASH BASIS 1 Item description Line General Special TIF Special Debt Capital Permanent Total Governmental(Sum of cols. Proprietary Grand Total (Sum Line rn 0 (a) Revenue(b) Revenue(c) Service(d) Projects(e) (I) (a)through(f))(g) (h) of col.(g)) (i) 0 Section I-Business Type Activities 87 87 0 Water-Current Operation 88 0 8 Capital Outlay 89 0 89 M Debt Service 901 0 90 0 a) Sewer and Sewage Disposal-Current Operation 91 6,916,906 6,916,906 91 Capital Outlay 92 18,082,027 18,082,027 92 Q- Debt Service 93 574,274 574,274 93 ib Electric-Current Operation 94 0 94 co Capital Outlay 95 0 95 Debt Service 96 0 96 Gas Utility-Current Operation 97 0 97 Capital Outlay 98 0 98 Debt Service 99 0 99 Parking-Current Operation 100 0 100 Capital Outlay 101 0 101 Debt Service 102 0 102 Airport-Current Operation 103 0 103 Capital Outlay 104 0 104 Debt Service 105 0 105 r— Landfill/Garbage-Current operation 106 4,955,753 4,955,753 106 v Capital Outlay 107 354,545 354,545 107 Debt Service 108 0 108 0 < Hospital-Current Operation 109 0 109 m Capital Outlay 110 0 110 Debt Service 111 0 111 Transit-Current Operation 112 0 112 -0 Capital Outlay 113 0 113 a Debt Service 1141 0 114 Cable TV,Telephone,Internet-Current Operation 115 10 115 W v Capital Outlay 116 0 116 c Housing Authority-Current Operation 117 0 117 Capital Outlay 118 0 118 Debt Service 1190 119 C/) Storm Water-Current Operation 120 a p 1,051,329 1,051,329 120 m Capital Outlay 121 1,937,808 1,937,808 121 Debt Service 122 0 122 Other Business Type-Current Operation 123 0 123 Capital Outlay 124 0 124 Debt Service 125 0 125 Internal Service Funds-Specify 126 126 127 0 127 128 0 128 Total Business Type Activities 129 33,872,642 33,872,642 129 ou Page 110 of 557 EXPENDITURES P9 CITY OF WATERLOO o Q EXPENDITURES AND OTHER FINANCING USES FOR FISCAL YEAR ENDED JUNE 30,2021--Continued N 3 NON-GAAP/CASH BASIS j .p Special TIF Special Debt Capital Permanent Total Governmental (Sum of Proprietary Grand Total (Sum rn Item description Line General (a) Service Line Revenue (b) Revenue (c) (d) Projects(e) (t) cols. (a)through(f)) (g) (h) of col.(g)) (i) Subtotal Expenditures(Sum of lines 84 and 130 61,096,935 46,267,603 2,614,335 22,615,474 23,786,164 0 156,380,511 33,872,642 190,253,153 130 o' 129) 0) Section J-Other Financing Uses Including Transfers 131 131 o Out v Regular transfers out 132 9,382,949 9,382,949 5,263,971 14,646,920 132 Internal TIF loans/repayments and transfers out 133 5,206,495 5,206,495 5,206,495 133 a 134 0 0 134 ib Total Other Financing Uses 135 0 9,382,949 5,206,495 0 0 0 14,589,444 5,263,971 19,853,415 135 N Total Expenditures and Other Financing Uses 136 61,096,935 55,650,552 7,820,830 22,615,474 23,786,164 0 170,969,955 39,136,613 210,106,568 136 (Sum of lines 130 and 135) 137 137 Ending fund balance June 30,: 138 138 Governmental: 139 139 Nonspendable 140 898,156 313,422 1,211,578 1,211,578 140 Restricted 141 21,196,397 30,007,173 4,498,554 967,903 26,959,764 83,629,791 83,629,791 141 Committed 142 0 0 142 Assigned 143 8,102,536 2,175,849 669,915 10,948,300 10,948,300 143 Unassigned 144 12,869,833 -1,580,618 -5,258,835 6,030,380 6,030,380 144 Total Governmental 145 43,066,922 30,915,826 5,168,469 967,903 21,700,929 0 101,820,049 101,820,049 145 Proprietary 146 18,684,886 18,684,886 146 0 Total Ending Fund Balance June 30, 147 43,066,922 30,915,826 5,168,469 967,903 21,700,929 0 101,820,049 18,684,886 120,504,935 147 v Total Requirements(Sum of lines 136 and 147) 148 104,163,8571 86,566,3781 12,989,299 23,583,377 45,487,093 01 272,790,004 57,821,499 330,611,503 148 0 < M 3 3 M 0 m m c 0 m 3 co Page 111 of 557 x OTHER P10 Part III Intergovernmental Expenditures Please report below expenditures made to the State or to other local governments on a reimbursement or cost sharing basis.hiclude these expenditures in part II.Enter amount. o CL Purpose Amount paid to other local governments Purpose Amount paid to State Correction Highways 3,432 w Health 48,235 rn o Highways All other 13,167 -U Transit Subsidies 1,489,637 ° Libraries Ch Police protection 1,454,919 o Sewerage Sanitation J All other 451,293 Q: H 41 Part IV N Wages&Salaries Report here the total salaries and wages paid to all employees of your government before deductions of social security,retirement,etc.Include also salaries and wages paid to employees of any utility owned and operated by your government,as well as salaries and wages of municipal employees charged to construction projects. YOU ARE REQUIRED TO ENTER SALARY DOLLARS IN THE Amount areas FOR SALARIES AND WAGES PAID Amount Total Salaries and Wages Paid 38,945,815 Part V Debt Outstanding,Issued,and Retired Transit subsidies A.Long-Term Debt Debt During the Fiscal Year Debt Outstanding JUNE 30,2021 Purpose Line Debt Outstanding JULY 1, 2020 Issued Retired General Obligation TIF Revenue Revenue Other Interest Paid This Year Water Utility I. Sewer Utility 2. 2,030,495 15,800,709 427,472 17,403,732 7-81050 p Electric Utility 3. Gas Utility 4. G) Transit-Bus 5. o m Industrial Revenue 6. Mortgage Revenue 7. m TIF Revenue 8. 5,862,641 1,155,453 1,104,581 5,913,513 135,419 Other Purposes/Miscellaneous 9. 0 GO 10. 100,345,000 22,980,000 19,925,000 103,400,000 2,614,125 m Parking IL Airport 12. 9 Stormwater 13. w Section 108 14, o' 0 Total Long-Term 108,238,136 39,936,162 21,457,053 103,400,000 5,913,513 17,403,732 0 2,827,594 B.Short-Term Debt Amount U m Outstanding as of July 1,2020 Outstanding as of JUNE 30,2021 DEBT LIMITATION FOR GENERAL OBLIGATIONS Amount Part VI Actual valuation--January 1,2019 4,061,330,973 x.0.5=S 203,066,548.65 Part VII CASH AND INVESTMENT ASSETS AS OF NNE 30,2021 Type of asset Amount Cash and investments-Include cash on hand,CD's,time,checking and savings deposits,Federal securities, Bond and interestBond construction Pension/retirement All other Funds Total(e) Federal agency securities,State and local government securities,and all other securities.Exclude value of real funds(a) T funds(b) funds(c) (d) property. 1,106,371 127,038,234 192,426,916 120,571,521 If you budget on a NON-GAAP CASH BASIS,the amount in the Total above SHOULD EQUAL the above summed amounts on the sheet All Funds P1:Ending fund balance,column C PLUS the amounts in the shaded Note area. REMARKS oThe City recognizes some revenue on a modified accrual basis for budgeting and reporting purposes.Ending cash from this page-$120,571,521 Modified accrual adjustments-66,586 Ending fund balance page one$120,504,935 Page 112 of 557 CITY OF WATERLOO Council Communication Resolution authorizing an exception to the City of Waterloo Purchasing Procedures Policy to approve the purchase of a 2022 demonstration unit Peterbilt garbage truck, in the amount of$267,925, from Elliott Equipment of Davenport, Iowa. City Council Meeting: 11/15/2021 Prepared: 10/27/2021 ATTACHMENTS: Description Type ❑ Quote Backup Material Resolution authorizing an exception to the City of Waterloo Purchasing SUBJECT: Procedures Policy to approve the purchase of a 2022 demonstration unit Peterbilt garbage truck, in the amount of$267,925, from Elliott Equipment of Davenport, Iowa. Submitted by: Submitted By: Randy Bennett, Public Works Division Manager Recommended Action: Approve Resolution This is an excellent opportunity to purchase another make of truck(at a discounted cost)to replace a Curbtender garbage truck that was taken out of Summary Statement: service. Each year there is a rotation of trucks where one is taken out of service because of age and reliability. Expenditure Required/Source of 525-15-5400-2117 - Sanitation Fund Funds: Page 113 of 557 3100 West 76th Street Elliott Sanitation Equip.Co. Quote Davenport,IA 52806 1245 Dawes Avenue Date Quote# Ph:563-391-4840 Lincoln,NE 68521 Ph:402-474-4840 4/20/2021 15459 EQUIPMENT CO. Proposed Shipping Date 4000 SE Beisser Drive 14001 Botts Rd. 4400 E 60th Ave Grimes,IA 50111 Grandview,MO 64030 Commerce City,CO 80022 Terms Ph:515-986-4840 Ph:816-761-4840 Ph:303-853-4840 Due on receipt Fx:515-986-9530 Rep CRS City of Waterloo 625 Glenwood St Waterloo,IA 50703 Here is our quotation on the goods named,subject to the conditions noted: CONDITIONS: The prices and terms on this quotation are not subject to verbal changes or other agreements unless approved in writing by the Home Office of the Seller. Prices are based on costs and conditions existing on date of quotation and are subject to change by the Seller before final acceptance. All quotations and agreements are contingent upon strikes,accidents,fires,availability of materials and all other causes beyond our control. Typographical and stenographic errors subject to correction.Purchaser agrees to accept either overage or shortage not in excess of ten percent to be charged for pro-rata.Purchaser assumes liability for patent and copyright infringement when goods are made to Purchaser's specifications. When quotation specifies material to be furnished by the purchaser,ample allowance must be made for reasonable spoilage and material must be of suitable quality to facilitate efficient production.Quoted Prices are good for 60 days. Conditions not specifically stated herein shall be governed by established trade customs. Terms inconsistent with those stated herein which may appear on Purchaser's formal order will not be binding on the Seller. TERMS: Equipment is due on receipt. Carts, Containers,Parts, &Service are Net 30 unless otherwise noted on your account.Balances over 30 days from date of invoice are subject to finance charges up to I%%per month. ................................................................................................................................................................................................................................................................................... Qty Item Description Price Total ........................................:........................................:.............................................................................................................:........................................:........................................ : 1 520 :2022 Peterbilt 520 cab over,Paccar PX-9 380 HP diesel, 274,925.00 274,925.00 Allison 450ORDS-P automatic,tandem axle,right hand drive,New Way Sidewinder 31 cu yd automated side loader,frame mounted arm with 1,0001b capacity and 12' reach,pre crusher panel,triple camera system with 7" color monitor,work lights,strobe lights.Price includes 5 year/100,000 mile aftertreatment warranty and 5 year/100,000 mile engine warranty Discount Demo Unit Discount -7,000.00:: -7,000.00 Customers Exempt From Sales Tax 0.00% 0.00 i........................................i.................................................................................................................................... "Adminstrative Fee of$150.00 will be added to all vehicle purchase transactions." Total $267,925.00 TO CONFIRM ORDER,SIGN AND RETURN X Page 114 of 557 CITY OF WATERLOO Council Communication Resolution authorizing an exception to the City of Waterloo's Purchasing Policy to approve the purchase of a hoop building from Freedom Buildings, Inc., of Belle Plaine, Iowa in the amount of$252,166.30 to be constructed at the Public Works Facility site. City Council Meeting: 11/15/2021 Prepared: 10/18/2021 ATTACHMENTS: Description Type ❑ 20-Yr Warranty Registration Backup Material ❑ Technical Data Sheet Backup Material ❑ Freedom Buildings Backup Material ❑ Photo 1 Backup Material ❑ Photo 2 Backup Material ❑ Photo 3 Backup Material ❑ Photo 4 Backup Material Resolution authorizing an exception to the City of Waterloo's Purchasing SUBJECT: Policy to approve the purchase of a hoop building from Freedom Buildings. Inc., of Belle Plaine, Iowa in the amount of$252.166.30 to be constructed at the Public Works Facili a site. Submitted by: Submitted By:Randy Bennett, Public Works Manager Recommended Action: Approve Resolution The hoop building will be used for storage of salt, salt/sand and other Sunanary Statement: materials on site. Freedom Buildings, Inc. is a supplier of Britespan Building Systems bid thru Sourcewell. Expenditure Required/Source of$252,166.30 Funds: GO Bond Funding-419-18-7950-2151 Page 115 of 557 BRITESPAN' BUILDING SYSTEMS INC 20 YEAR LIMITED WARRANTY SCOPE OF LIMITED WARRANTY Only the building components manufactured by Britespan Building Systems Inc. (Britespan) and described in this agreement are warranted for manufacturer defects to the building owner. This warranty is only valid if and when: i. Warranty has properly been registered by an authorized Britespan dealer as per the instruction in the building kit and, ii. Building and any components are assembled and maintained in accordance with the Installation/Owner's Manual/Structural Drawings and applicable Technical Bulletins. iii. Britespan receives written notice and proof of claim (photos where possible) of any manufacturer's defects during the period of warranty coverage. iv. Britespan Building Systems Inc. has been paid in full for the building and materials. Resolve of the structural defect(s) may be through the supply of new, used or rebuilt parts, or on-site repair, at the discretion of Britespan. If Britespan chooses to repair or replace the defective product or component, Britespan shall be allotted reasonable time to do so. This warranty includes the explicit warranty of Britespan. There are no other warranties expressed or implied. This warranty is made and is not to be replaced by any warranties of marketability or suitability for a particular purpose. Warranty specifications are applicable to units sold and erected in Canada and the United States only. Warranty may vary outside of those areas. Please contact your local authorized Britespan representative for more details. WARRANTY REGISTRATION Follow all the instructions for the online Warranty Registration found in the Owner/Installation Manual shipped with the building kit, or at www.britespanbuildings.com. All Warranty Registrations must be submitted for registration review within 60 days of building installation. A Certificate of Warranty will be issued to your local authorized Britespan representative once all the requirements have been met for registration and approved by Britespan. A Warranty Certificate may be withheld if the building or any components are not assembled in accordance with the installation procedures indicated in the installation manual or structural drawings. A Warranty Certificate will be issued upon correction of identified deficiencies supported with new photographs to complete the verification. If the building changes ownership, the new owner must apply for a Warranty Transfer to assume remaining years of warranty on the existing structure(s). Contact your local authorized Britespan dealer to obtain a transfer of warranty package. A one-time per transfer fee may apply. STANDARD LIMITED WARRANTY COVERAGE PERIODS: TABLE 3-1: STANDARD PRO-RATED WARRANTY COVERAGE PERIOD YEARS COMPONENT ATLAS/GENESIS/APEX/ EASY ACCESS/ EPIC SERIES MAIN STRUCTURE COVER NON-FR 4 20 MAIN STRUCTURE COVER FR 4 15 END FABRIC NON-FR 5 5 END FABRIC FR 5 5 MAIN STEEL FRAMEWORK 2 20 END STEEL FRAMEWORK HSS 3 10 *Building needs to be installed by factory trained, approved and qualified personnel. 1-800-407-5846 • britespanbuildings.com • info@britespanbuildings.com Mosinee, Wisconsin Office Wingham,Ontario Offices and Fabric Facility Distribution and Manufacturing 425 Orbiting Drive,Suite A 688 Josephine Street North, RR#1 71 North Street West Mosinee,WI 54455 Wingham,ON NOG 2WO, Canada Wingham,ON NOG 2WO,Canada Page 116 Of 557 BRITESPAN' B U I L D I N G S Y 5 T E M 5 I N C NOTES ON LIMITED WARRANTY COVERAGE PERIODS • All repair or replacement costs are pro-rated as per table 3-1 on page one of this document. • Standard pre-galvanized purlins include a 5-year pro-rated warranty. Main building trusses, hot dip galvanized purlins and manufactured brackets include 20-year pro-rated warranty. (2) • Consists of vertical columns, horizontal members, and manufactured brackets. Does not include cables or fasteners. (3) • Consists of main building cover panels only. Does not include any fastening system components (4) • Consists of end enclosure panels only (standard FR & non-FR fabrics only). Does not include any fastening system components. End enclosure panels must be properly supported by a Britespan end support system or an alternative system designed and engineered to match the end panel fastening system. The alternative system must also meet site wind load and building safety requirements as per engineer requirements. (5) STANDARD TERMS OF LIMITED WARRANTY COVERAGE Should any components be found to have manufacturer's defects under normal use, the defect(s)will be repaired, or the components replaced, at the discretion of Britespan. The building owner will be responsible for the cost of the repair or replacement parts pro-rated per year following the original purchase date, plus the cost of delivery and installation of replacement parts, if required. All replacement parts are F.O.B. Wingham, Ontario, Canada. Any parts requiring replacement under this warranty are subsequently warranted only for the remaining time period of the unexpired portion of the warranty that is applicable to the original product. Due to continual product development, over time certain fabric colours or steel components may become unavailable. In those incidents, Britespan reserves the right to substitute replacement components with those that are comparable in function, quality, and price to the original. Britespan is not responsible or liable if the replacement component varies in appearance from the original. LIMITS AND RELEASE OF LIABILITY This warranty does not apply to defects or damages resulting from a) improper installation and /or installation that is not in accordance with Britespan installation manuals/procedures/structural drawings, and Technical Memos; b) improper or inadequate maintenance of the structure; c) any modification or alteration of the product reported or not reported; d) misuse, neglect, or abuse of the product; e) accident; f) repair or alteration by an unauthorized Britespan dealer; g) integration of products or accessories not manufactured specifically for use in a Britespan; h) exposure to corrosive elements; i)corrosion resulting from structure applications, environment within the structure, and/or insufficient maintenance or any cause other than a defect in an item's described corrosion protection;j) use of abrasive cleaning methods, chemicals, or solvents; k) exposure to conditions in excess of, or not meeting, as the case may be, wind and snow load specifications for building model; 1) design of foundation and/or installation and/or deficiency in the foundation; m) product upgrades; n) product recall; o) normal wear and tear; p)wear caused by multiple installations; q) storage and/or handling of building components; r) an act of God; This warranty does not apply to s) cosmetic defects or deterioration, including discolouration of fabric or steel t) rub marks on the fabric that only rub off of the colour coat, but do not leak. Britespan will not be liable for any damages incurred during or as a result of installation of a Britespan product, whether in accordance with the installation instructions. In no event will Britespan, any distributor, or the selling dealer be liable for any direct, indirect, special, incidental, or consequential damages (including loss of profit, loss of time, inconvenience, or the use or inability to use this product for any purpose whatsoever), whether based on contract, tort, strict liability or any other legal basis; even if Britespan, it's distributor, or selling dealer was advised of the possibility of the occurrence of such damages. By registering for and taking benefit of the warranty, the building owner expressly releases and discharges Britespan, all distributors, and all dealers from all claims, causes of action, demands, actions, suits,judgments and executions for any actual, incidental or consequential damages, bodily or otherwise, that the building owner ever had, now has, or may have by reason of the assembly, erection, use and/or 1-800-407-5846 • britespanbuildings.com • info@britespanbuildings.com Mosinee, Wisconsin Office Wingham,Ontario Offices and Fabric Facility Distribution and Manufacturing 425 Orbiting Drive,Suite A 688 Josephine Street North, RR#1 71 North Street West Mosinee,WI 54455 Wingham,ON NOG 2WO, Canada Wingham,ON NOG 2WO,Canada Page 117 Of 557 BRITESPAN' B U I L D I N G S Y 5 T E M 5 I N C operation of any Britespan. All references to building owners, Britespan, all distributors and all dealers, include such parties' spouse, heirs, successors, legal representatives and assigns. Britespan and its authorized dealers are independent businesses; authorized dealers are not agents or legal representatives of Britespan. Authorized dealers have no right or authority to assume or create any legal obligation or responsibility, express or implied, on behalf of Britespan, or to bind Britespan in any manner whatsoever. Britespan Building Systems Inc. shall have no liability for any acts, errors, omissions, workmanship, supplies, advice, representations or misrepresentations of any authorized dealer. 1-800-407-5846 • britespanbuildings.com • info@britespanbuildings.com Mosinee, Wisconsin Office Wingham,Ontario Offices and Fabric Facility Distribution and Manufacturing 425 Orbiting Drive,Suite A 688 Josephine Street North, RR#1 71 North Street West Mosinee,WI 54455 Wingham,ON NOG 2WO, Canada Wingham,ON NOG 2WO,Canada Page 1 1 H Of 557 RU88X-6 [FBI 400 INTERTAPE POLYMER GROUP° MEMBRANE STRUCTURE TECHNICAL DATA SHEET FABRIC WITH ARMORKOTETM DESCRIPTION PERFORMANCE PROPERTIES NovaShield°brand RU88X-6(FR)400 is a The following data are typical values based on ASTM standard tests. flame-retardant, heavyweight fabric for This data should not be considered specification. applications requiring UV stability, such as membrane structures and alternate daily landfill Grab Tensile Warp 370 Ib, 1664 N/Weft 345 Ib, 1532 N covers. The scrim is produced in a special ASTM D5034 weaving pattern to enhance flatness, abrasion Strip Tensile(N/5cm) Warp 250 Win (2220)/Weft 235 Ib/in (2086) resistance, and tear properties. The proprietary ASTM D5035 flame-retardant coating is used to enhance abrasion resistance,flex resistance, seam Tongue Tear Warp 110 Ib,488 N/Weft 100 Ib,444 N strength, UV resistance and longevity. ASTM D2261 Trapezoidal Tear Warp 100 Ib,444 N/Weft 90 Ib,400 N FABRIC SPECIFICATIONS ASTM D4533 Weave: Woven clear HDPE scrim Mullen Burst 650 psi/4478 kPa Coating: LDPE,4 mil average each side ASTM D3786 (95 g/m2/side) Accelerated UV >90%strength retention after 2000 hrs Color: White, blue, green,sandstone Weathering' exposure @ 0.77 W/m2/nm, or 1200 hrs Weight: 12eoz/yd2(407g/m2)+/-5% ASTM G154 exposure @ 1.35 W/m2/nm Thickness: 23 mil (0.59 mm)ASTM D1777 Low Temperature Bend -60°C ASTM D2136 ROLL SPECIFICATIONS Cores: 4 inch I.D.or 5 inch I.D.available Width: Up to 144 inches(-0, +0.5)as ' Q•U.V[A-340 Lamps]; 8 hrs UV @ 60°C;4hrs condensation @ ordered 50°C Length: Minimum 250 yds/roll; up to 1000 yds/roll These values are typical data and are not FR PERFORMANCE intended as limiting specifications. This product meets the requirements of NFPA 701-2015(Method 2), NFPA-701(1989) Large Scale; CAN/ULC S109-M87(Large Scale), and ASTM E84-00a (Class 1). . . intertape polymer group` 100 Paramount Drive,Suite 300 1 Sarasota,FL 34232 1 USA Customer Service: 800.565.2000 www.itape.com I info@itape.com While we believe them to be reliable,the statements and information herein are only for general guidance and are not warrants or guarantees for accuracy and completeness. The user must,by test or otherwise,determine suitability for this purpose. There is no warranty of fitness for a particular purpose. Our standard term and conditions of sale apply exclusively to all orders,and all liability for damages of any kind,including consequential,exceeding purchase price is excluded. No one is authorized by us to make oral warranties. our reserve the right make changes without notice or NovaSh 1eId obligation in our products and publications. EFFECTIVE:3/16 age OT 557 Freedom Buildings Inc. Contract (Labor and Material) Initial �1 This("Contract")is entered into this day of November,2021,by and between City of Waterloo("Owner"),and Freedom Buildings Inc.,of Belle Plaine,IA("Contractor"),and together("Parties") 1.The Work Contractor agrees to perform,and Owner agrees to accept upon satisfactory completion,the work described below("Work") subiect to the terms and conditions stated herin: Supply and install,complete with all the required components,a BriteSpan Atlas 651,10;65x224.;set on concrete piers 2' above grade(pier foundation provided by the customer and are not included in this contract). Both ends open. Upgrades for HDG blots,purlins,and stainless steel cables. Inside the building will be 8'6"Weiser precast Walls,and an additional divider wall-freight and setting is included. Stamped drawings for structure and foundation are included. Work shall be performed in accordance with attached documents,which have been initialed by Contractor and Owner. 2,Contract Price Owner agrees to pay to Contractor for the completed Work including Labor and Material the sum of$252,166.30.Amount may be adjusted by additions to and deletions from the Work,only if agreed upon by the Parties in writing. 3.Payment Terms Payment of the Contract Price shall be made as follows: The Contract price$252,166.30(100%)upon satisfactory completion and acceptance of Work.Payments due and unpaid here under shall bear interest from the date payment is due at the rate of 1.5%per month or maximum allowed under the laws of state of Iowa;the smaller amount governs. 4.Insur—an ce Contractor shall secure and maintain a policy of commercial general liability insurance with coverage limits that are customary for the type of Work being performed. Owner shall secure and maintain policies of property and general liability insurance upon completion of project the Contactors builders risk insurance coverage will terminate the day that the project is completed.The Parties waive all rights against each other and any of their agents and employees for damages caused by the other to the extent such damages are covered by any of the insurance policies required herin. S.CCUmpletion of Work Contractor shall complete the Work in a professional and workman like manner according to contract.If the progress of the Work is delayed by inclement weather,delays in delivery of material,acts of God or other casualties or causes beyond Contractor's control then the time to commence and/or complete the Work herein shall be extended accordingly. 6.Indemnification Contractor shall indemnify and hold harmless the Owner,it's agents and it's employees from and against any claims damages, losses and expenses,arising out of or resulting from the performance of Work,but only to the extent caused solely by the negligent acts of omissions of Contractor,its subcontractors or anyone directly employed by Contractor. 7.Warranty Owner agrees to look exclusively to the manufacturer for any warranties covering the manufacturer for any warranties covering the materials(including,but not limited to,any design and engineering requirements of the materials)used in the performance of the Work,Contractor makes no warranty express or implied,regarding the materials or the design and engineering requirements of the materials,including any warranty of merchantability of fitness for a particular purpose or use which are hereby expressly disclaimed by contractor.Owner agrees to complete any warranty registration cards required in order to activate any manufactures'warranties,and to deliver the completed warranty registration cards to the Manufacturer upon completion of the Work.Contractor warrants only that its labor will be of good quality and workmanship and free of defects For a period of one(1)year from completion of Work. 8.Remedy If Contractor breaches Contractor's Labor warranty as set forth above,or if Contractor breaches this Contract,Owner's sole remedy against Contractor shall be the repair or replacement of the defective Work,at Contractor's option.Notwithstanding anything to the contrary herein, unless otherwise coverd under number 4 above titled Insurance,under no circumstances shall Contractor be liable to Owner,or to anyone else,for any costs or damages,including without limitation,any incidental,indirect,specific or consequential damages of any kind,resulting from Contractor's breach of warranty,or breach of this agreement,or from Contractor's negligence or other actions or failure to act,including without limitation,costs or damage resulting from defects in the Work.This part is not meant to nullify rights under laws,regulations,or ordinances. 508 3rd St Telephone:31.9.777.8093 Freedom Buildings Inc. Belle Plaine,]A 52208 www.freedom6uildings.us Page 120 of 557 9.Permits Owner shall obtain and pay for the building permit and any other permits and governmental fees,licenses and inspections necessary for proper execution and completion of work. 14.Condition of Site Owner shall provide Contractor with the necessary information regarding the condition of the site prior to commencement of construction,including surveys,soil reports and information regarding underground utilities,tanks or other buried equipment or obstructions,Contractor shall not be responsible for damage to underground utilities,tanks or other buried equipment or obstructions not disclosed to Contractor prior to commencement of the Work.Owner shall be responsible for any additional cost incurred due to underground obstructions and,or other construction problems not visible at Site.Site must be level and free of debris prior to construction. Contractors shall be responsible to contact Iowa One-Call for locatoin of underground utilities. 11.Concrete Poutidatians Contractor will not be liable for pre-existing concrete conditions,defects in concrete foundations,or any damages or claims caused by concrete foundations designed,installed or completed by other contractors. 12.Use of Si Owner shall provide Contractor with access to the site for purposes of performing the Work. 13.Cleaning Un Contractor shall keep the premises and surrounding area free from accumulation of debris and trash related to the Work,Customer shall be responsible for disposal. 14.Applicable Law It is further understood and agreed that no promise,inducement,or agreement between the parties;that the terms are contractual and not a more recital:and that this Contract shall be construed according to the law of the State of Iowa.In the event itbecomes necessary to resort to a court of law or equity for the interpretation or enforcement of any of the provisions of the Agreement,the parties consent and agree that the Iowa District Court in and for Blackhawk County shall have jurisdiction over them. 15.Contract Derault In the event of Owner default on payment obligation according to the terms,Contractor can collect reasonable attorney fees relating to collection of unpaid balance. In the event Contractor defaults it's obligations under the terms of Contract,Owner can 16.Entire Agreement This Contract,together with attached Documents constitute the entire agreement between the Contractor and the Owner with respect to the Work.The Contract may be amended or modified only by writing signed by both of the parties. Owner: Contractor: City of Waterloo Freedom Buildings Inc. Mailing Address 508 3rd Street 625 Glenwood St. Belle Plaine,IA 52208 Waterloo,IA 50703 Site Address[if Differenij Phone Phone 319.777,8093 Date Date X x signature attire 08-3rd St Telephone:319.777.8093 Freedom Buildings Inc. Belle Plaine,IA 52208 www.freedombuildings.us Page 121 of 557 Freedom Buildings Inc. Attach building sketch,end wall profile(s),orginal estimate w/details,and pricing. Date 11/10/2021 Maim White Job Name City of Waterloo Flaps: White Ends: White Apron: White Steel: N/A Trim: N/A Initial i 1 understand that warranty paperwork will not be processed until final invoice is paid in Full I will take warranty pictures and submit them myself I want Freedom Buildings Inc.to come out and take warranty pictures(+$300) 1 agree to let Freedom Buildings,Inc.to use photos/videos of my building in promotional media Initial Freedom Buildings Inc. 508 3rd St Telephone:31.9.777.8093 Belle Plaine,IA 52208 www.freedombuildings.us Page 122 of 557 r Y J w Page of 557 l . _ . wwr . t I� } 3 � Page .•e of r / r 40 4F f yPIA r� _ f 1 i PERSONNEL REQUISITION FORM RECEIVED MAR 2 4 2021 Check as applicable: ® To start recruiting or civil service process and/or ® To fill a vacancy ❑ Active Civil Service List Expires: A proposed job description and questionnaire must accompany this form at time of submission to Human Resources. Position Title: Records Technician Department: Police Department Reports To: Chief of Police Work Location: City of Waterloo Employment Status: ®Regular Full Time ❑ Temporary Full Time from to ❑Regular Part Time ❑ Temporary Part Time from to ❑Regular 7-Month ❑ Intern/Co-op Student from to Type of Position: Recommended Recruitment Sources: Civil Service Position: ®Yes ❑No ®Internal Posting Only Bargaining Position: ®Yes ❑No ❑Internal Posting and External Advertising Bargaining Group: Teamsters Non-bargaining Position: ❑Yes ❑No Complete the following if the requisition is to fill a vacancy: ❑ New Position or ® Replacement Position for:Clerk Brittany Hover (Specify name and title of former incumbent) Date incumbent terminated employment: 01/15/2021 Date of final payout: N/A,to City Position Anticipated start date: 02/01/2021 No. of hours/week: 40 Work schedule: 5/2 Justification of need for position: On 01/15/2021 Clerk I, Brittany Hoyer transferred from the Police Department to an other City Dept creating a vacancy lowering the staffing level to 3 records clerks. The FYE21 budgets support 4 clerks. This position is being modified for additional technical computer and video carnera support duties. What are the likely consequences if the position is not filled? The Police Department records and information p processing is a critical part of the departments function.Not filing the position would jeopardize that information processing. APPROVALS N Annual salary requirements: $53,560.00 Hourly Rate: 25.75 Benefits: City Benefits package (Payroll taxes,pension,health ins.-assuming family) Is position budgeted for this and future FYs? ® Yes ❑No If no, how will position be funded? Approved subject to the following conditions: Submitting Department Head bate ayor Date G��c � 8a73 / l f� Chief Financial Officer Date Human Resource,Director Date Human Resources Committee Chairperson Date Created 6/30/2017 Page 127 of 557 PERSONNEL REQUISITION {Records Technician) The following questions are provided as guidelines to assist you in developing your rational for the position of Records Technician in the Police Department. Depending upon your situation, some questions may or may not apply. Please provide written responses to these questions as part of your preparation for meeting with the Mayor. (1) What are the key job responsibilities of this position? The Records Technician completes all daily data entry information,process case files, prepares documents for trial, and completes minor repairs and installations to computer hardware. Troubleshoots technical issues with computers, in car-cameras and other technical systems. (2) Can the job responsibilities of this position be assigned to other employees within the department? If no, why not? No. This position is critical to the Police Department's daily operation by ensuring the daily documents are processed and department equipment is functioning properly. (3) How is the work of this position being accomplished now? The previous Clerk resigned. The other Clerks have taken the workload until the new Clerk can be hired. We also do not currently have a back-up person to assist with IT trouble-shooting, body/fleet cameras or other tech related issues when our IT Director is on vacation or away from work. (4) Are the filled positions in your department currently being utilized to their maximum potential? Yes, this is a position that requires a full time employee. (5) How would filling this position meet the needs of your department or the City on either a short-term basis (if temporary position) or a long-term basis (if a regular position)? This position is critical to the Police Department there is too much to learn to be able to train a Temporary person to fill in. (6) What cost savings or revenues, if any, would your department or the City realizes if this position is filled? Filling this position would avoid overtime being paid to other Clerks that would have to take on the duties of this job. (7) If you are paying overtime or comp time within your department to accomplish this work now, how much overtime or comp time has been paid out or earned that is directly attributable to this position and over what period of time? Overtime is being avoided at this time,but certain data processes are not being completed so the critical workload gets completed. (8) How has the work load or demands of your department changed in comparison to your staffing levels over the past three fiscal years? Provide Page 128 of 557 statistics if possible. This position has been staffed by one civilian employee for many years so there is no other staff that can complete this work. (9) If this position is not filled, what affect will it have on your department? What work will not get done? What costs will you incur? Please be as specific as possible. If this position is not filled it will create a great deal of work for the existing Clerks and Records Manager, and only completing those tasks that are a priority. (10) How do you cover the responsibilities for this position whenever the incumbent is out on vacation? The current Clerk completes as much of her work prior to going on vacation and catches up when she returns. Other tasks are temporarily moved to existing clerks. (11) Is it possible that the City could outsource this position to an outside agency? If so, what savings, if any, would the City realize as a result of this change?No, this position requires an extensive background due to the sensitive nature of the documents they process. NCIC rules also prohibit this information from being handled by non-law enforcement businesses. (12) How would you rank this position in terms of its contribution to City business in comparison with other positions reporting to you? This position is a priority. (13) How does this position impact the Goals and Objectives for the City adopted by the City Council? Meets the goals and objectives of the department, city and of Iowa Code. Note: Forward completed questionnaire to Human Resources Department with original copy of Personnel Requisition form. Page 129 of 557 Submit resume by going to www.ciiyofwaterlooiowa.com clicking on Career Opportunities, reviewing the Records Technician description and following directions to submit cover letter and resume. We will not accept mailed, faxed, hand-delivered or directly emailed resumes. Deadline to submit resume is Noon on Friday, September 17,2021. CIVIL SERVICE OPEN EXAMINATION CITY OF WATERLOO, IOWA RECORDS TECHNICIAN DEPARTMENT POLICE SALARY $24.75 per hour with$1.00 increase after 6 month probation FLSA NON-EXEMPT CIVIL SERVICE INCLUDED BARGAINING UNIT TEAMSTERS LOCAL#238 GENERAL STAT ,M .NT OFD TIES Staff support position responsible for performing a variety of clerical tasks and computer technical assignments requiring the use of independent judgement and initiative. The work is performed under the general direction of a department head or designee. May direct the work of lower level clerical or temporary employees. Extensive background check is required to hold this position. EXAMPLES OF ESSENTIAL FUNCTIONS machine and other general office equipment. (Illustrative Only) These functions are considered essential for successful 8. May interpret technical data,review materials on performance in this job classification. a variety of projects and present facts and findings clearly and concisely to a supervisor, 1. Performs data entry,reporting and statistical data to coworkers,City officials and the public. meet all State and Federal IBR requirements. 9. Required to be certified in the NCIC (National 2. Collects and compiles statistical data manually and Crime Information Center system) for data entry through the use of a computerized system, of all items required by the Federal System; including sending reports on a daily basis to the performs monthly validations on items entered Black Hawk County Attorney's office,Iowa DOT into the NCIC system. and the Black Hawk County Clerk of Court. 10. Updates and processes all incoming online 3. Ensures that all documents and reports are stored reports generated by the public. in the department's Electronic Document and Management System. 11. Performs technical assignments including monitoring the use and maintenance of the 4. Greets the public and answers incoming department department printers. phone calls as needed and provides information based on knowledge of department and City 12. Assists employees with the use of their policies, regulations and procedures or directs call telephones and any voicemail issues; assists with to proper person. general software issues. 5. Collects fees and revenues, prepares receipts and 13. Will resolve any general computer issues that maintains records of revenue/expense transactions. arise throughout the performance of any employee's duties. 6. May schedule and assign tasks to subordinate clerks and review their work for accuracy. 14. Works with the Video Management Systems and maintains inventory of all body-worn and in car 7. Operates personal computer, calculator, fax equipment. Page 130 of 557 15. May prepare written reports, complete forms and 9. Ability to exercise independent judgment and to keep files up-to-date. make decisions based on department policies, City ordinances and established regulations. 16. Communicates with the public, City officials and coworkers by telephone and in person. 10. Ability to establish and maintain effective working relationships with supervisors, coworkers and the 17. Works under strict time constraints and stressful public. conditions. 11. Ability to work with people from a broad variety 18. Works independently and with others with limited of social,economic,racial, ethnic and educational supervision. backgrounds. 19. Attends work regularly at the designated place and ACCEPTABLE EXPERIENCE&TRAINING time. 1. High school graduate/GED with minimum two years of business clerical, secretarial, 20. Performs all work duties and activities in bookkeeping or other closely related experience accordance with City, department and OSHA in an office setting; prefer additional education policies,procedures and safety rules. beyond high school in business clerical, accounting or closely related field 21. Performs other duties as assigned by a supervisor OR or designee. Any equivalent combination of experience and education that provides the knowledge,skills and REQUIRED KNOWLEDGE &ABILITIES abilities necessary to perform the essential 1. Knowledge of Microsoft Office software, in functions of the position. particular Word and Excel and must be able to learn specialized software. 2. Skilled in use of personal computer and Microsoft Office software (verification of skills 2. Thorough knowledge of clerical functions,office through testing arranged by the City of Waterloo procedures, terminology and equipment Human Resources Office after contingent job including personal computer. offer). 3. Ability to perform general office services, 3. Detail-oriented and accurate. develop computer-generated reports and keep accurate,thorough and updated records. 4. Technical experience in a computer environment. 4. Ability to collect,analyze and present data from ESSENTIAL PHYSICAL ABILITIES computerized reports in an organized and The following physical abilities are required with or understandable form. without accommodation. 1. Sufficient speech and hearing that permits the 5. Ability to answer questions and provide employee to communicate effectively with information to the public in person and over the supervisors, other employees and the public in telephone in a clear, concise and easily person or by telephone. understandable manner. 2. Sufficient vision and manual dexterity that permits 6. Ability to assist the public in a kind,courteous, the employee to operate a personal computer and and respectful manner including under other standard office equipment, handle files, stressful circumstances. perform customer service duties and other clerical responsibilities. 7. Ability to write legibly,prioritize work, deal with 3. Sufficient interruptions, produce a quality work product personal mobility that permits the within strict time lines and handle multiple tasks. employee to move from one work area to another. MISCELLANEOUS 8. Ability to work independently and with others with 1. Required to submit to and pass Civil Service minimum supervision and to direct the work of written exam(if needed)and panel interview. other employees. Page 131 of 557 WORK SCHEDULE WRITTEN EXAMINATION Work schedule is Monday through Friday. Work In the event the City of Waterloo receives resumes hours will be a 9-hour shift with a one-hour unpaid from more than thirty (30) qualified applicants we lunch and will start no earlier than 6:00 a.m. and end reserve the right to require these applicants to no later than 10:00 p.m. The City of Waterloo participate in a written examination designed to test reserves the right to change this schedule within the knowledge of clerical skills. The top twenty scores guidelines of the Teamsters contract. Limited on the written examination will be invited to the oral overtime. examination, but in no case will a candidate be allowed to proceed in the testing without receiving a EXAMINATION INFORMATION minimum score of at least 70% on each portion of Qualified applicants who apply by the deadline date the written examination. In the event a written will be required to appear before an oral examination examination is necessary, the written examination panel consisting of a minimum of three people who will be worth 40% of the total score with the oral have expertise in the areas being tested. An individual examination being worth 60%of the total score. must receive a minimum average score of sixty points out of one hundred to achieve a passing score on the EXAMINATION DATE(S) oral examination. The top applicants, as ranked by Qualified applicants who apply by the deadline date will be their scores on the oral examination will be the notified of the time,place and date of the examination(s). individuals placed on the certified list. Applicants who qualify as outlined and are full time regular A.A./E.E.O. employees of the City of Waterloo shall have one Minority,female& disabled individuals are additional point per full year of employment up to a encouraged to apply. maximum of five points added to their final score. Honorably discharged men and women from the military or naval forces of the United States who qualify per provisions of Chapter 35 of the Code of Iowa and who are citizens and residents of the United States shall have five additional points added to their final score upon submission of their DD214 or ten points added if they were awarded a Purple Heart or RECORDS TECHNICIAN OPEN DESCRIPTION 21 June 2021 have a service connected disability. Page 132 of 557 CITY OF WATERLOO Council Communication Motion approving Change Order No. 23 with Cardinal Construction, Inc., of Waterloo, Iowa, for a net increase of$1,780, in conjunction with the Five Sullivan Brothers Convention Center Addition and Renovation Project, and authorizing the Mayor to execute said document. City Council Meeting: 11/15/2021 Prepared: 10/21/2021 ATTACHMENTS: Description Type ❑ Change Order#23 - 5 Bros Addition-Reno Backup Material Motion approving Change Order No. 23 with Cardinal Construction, Inc., SUBJECT: of Waterloo, Iowa, for a net increase of$1,780, in conjunction with the Five Sullivan Brothers Convention Center Addition and Renovation Project, and authorizing the Mayor to execute said document. Submitted by: Submitted By:Noel Anderson. Community Planning and Development Director Recommended Action: Approval COR 17:Angle bracing Modification:Remove existing angle braces in Summary Statement: Corridor 102 that cross the corridor and conflict with new mechanical and electrical. Page 133 of 557 Document G701 ' - 2017 Change Order PROJECT: (Name and address) CONTRACT INFORMATION: CHANGE ORDER INFORMATION: Five Sullivan Brothers Convention Center Contract For:General Construction Change Order Number:023 Addition and Renovation,Waterloo,IA, Project No:20-23943 Date: September 08,2020 Date:October 20,2021 OWNER:(Name and address) ARCHITECT:(Name and address) CONTRACTOR:(Nance and address) City of Waterloo I&S Group,Inc.(ISG) Cardinal C0113trt1Cti6n,Inc. 715 Mulberry Street 314 East 4th Street 1246 Martin Road Waterloo,IA 50703 Waterloo,IA 50703 Waterloo,IA 50701 THE CONTRACT fS CHANGED AS FOLLOWS: (Insert a detailed description of the change and, if applicable, attach or•reference specific exhibits.Also include agreed upon adjustments attributable to executed Construction Change Directives) A. COR 17: Angle Bracing Modification: Remove existing angle braces in Corridor 102 that cross the corridor and conflict with new mechanical and electrical...........................................Add $1,780.00 TOTAL AMOUNT OF THIS CHANGE ORDER,ADD TO CONTRACT SUM$1,780.00. The original Contract Sum was $ _5,516,300.00 The net change by previously authorized Change Orders $ 414,754.30 The Contract Sum prior to this Change Order was $ _5,931,054,30 The Contract Sum will be increased by this Change Order in the amount of $ 1,780.00 The new Contract Stun including this Change Order will be $ _ 5,932,834.30 The Contract Time will be unchanged by.Zero(0)days. The new date of Substantial Completion will be August 22,2021. NOTE:This Change Order does not include adjustments to the Contract Sum or Guaranteed Maximum Price,or the Contract Time,that have been authorized by Constriction Change Directive until the cost and time have been agreed upon by both the Owner and Contractor,in which case a Change Order is executed to supersede the Construction Change Directive. NOT VALID UNTIL.SIGNED BY THE ARCHITECT,CONTRACTOR AND OWNER, I&S Group,Inc.(ISG) Carillinal.Construction,Inc. City of Waterloo ARCHITECT(Firm name) ZSIGA TOR(Firm name) OWNER(Firer name) SIGNATURE E SIGNATURE Nathan Compton,Architect Katy Suson ,President Quentin Hart,Mayor _ PRINTED NAME AND TITLE PRINTED NAME AND TITLE PRINTED NAME AND TITLE October 20,2021 October 20,2021 t DATE DATE DATE AIA Document G701"—2017.Copyright O 1979,1987,2000,2001 and 2017 by The American Institute of Architects.All rights reserved.The"American Institute of Architects,""AIA,"the AIA Logo,and"AIA Contract Documents"are registered trademarks and may not be used without permission.This document was produced by AIA software at 13:26:01 ET on 10120/2021 under Order No,9281462824 which expires on 0711212022,Is not for resale,is licensed for ane-time use only,and may only be used in accordance with the AIA Contract Documents®Terms of Service.To report copyright violations,e-mail copyright@aia,org, User Notes: (3B9ADA3F) Page 134 of 557 CITY OF WATERLOO Council Communication Motion approving Change Order No. 2, in the amount of$13,200, for an increase of$13,200, for the repair of approximately 90 square feet of additional pavement on the East Passenger Terminal Apron, at the Waterloo Regional Airport, and authorizing the Mayor to execute said document. City Council Meeting: 11/15/2021 Prepared: 11/1/2021 ATTACHMENTS: Description Type ❑ Change Order No: 2 - East Apron Project- Repair 90- Backup Material SgFt. ❑ Pictures of Spalled Areas Requiring Repair Backup Material Motion approving Change Order No. 2, in the amount of$13.200, for an SUBJECT: increase of$13,200, for the repair of approximately 90 square feet of additional pavement on the East Passenger Terminal Apron, at the Waterloo Regional Airport, and authorizing the Mayor to execute said document. Submitted by: Submitted By:Keith Kaspari,Airport Director Recommended Action: Approve of Change Order No:2 as requested by Staff. During Phase 3 of this current FAA funded project, (East Terminal Apron Cleaning and ReSealing), it was discovered that when the sub-contractor Summary Statement: began removing the old sealant- and discovered that approximately 90 additional square feet of pavement needed more longer-term permanent repair. See attachment for pictures of areas needed repair. Neighborhood Impact: Not Applicable Data/Analysis and Strategies: Not Applicable This Change Order will allow Airport Staff to continue to rehab sections of airside pavement. While little aircraft traffic is parked on this section of concrete pavement, there are still periods of the year where aircraft are parked here. Implementation,Accountability, and Communication: The reconstruction/repair of these heavily spalled areas will allow staff to repair these sections to significantly reduce the potential for damage to aircraft- and especially damage to aircraft tires -whereas if an aircraft tire is damaged -would almost certainly place the aircraft out of revenue service. See attached pictures for pavement areas needing repair. Community Engagement Not Applicable Methods: Page 135 of 557 The cost of this Change Order No:2 is $13,200.00 and is derived at 100% Expenditure Required/Source of as part of FAA Grant No:46. Funds: There is no match funding requirement by the City of Waterloo nor the Airport Dept. Alternative: No project alternatives were recommended to Staff from ALO's Consulting Engineer. Legal Descriptions: Not Applicable Page 136 of 557 CHANGE ORDER NO. 2 Owner: Waterloo Regional Airport, City of Waterloo,Iowa Date: October 28,2021 Project: Reconstruct West Terminal Apron& Clean/Reseal Joints East Terminal Apron, Reconstruct Taxiway B East of Runway 18/36 and Tree Removals Reconstruct Taxiway C South of Runway 12/30 Runway Safety Area Owner's Contract No. FAA AIP Project No.3-19-0094-046 Contractor: Cedar Valley Construction Co.LLC Date of Contract Start: April 6,2021 You are directed to make the following changes in the Contract Documents. Description: Item Description Unit Unit Price Quantity Amount No. 100 Partial Depth Patching,Finished SF $110.00 90 $9,900.00 101 Mobilization for Partial Depth Patching LS $3,300.00 1 $3,300.00 i I Total Change Order $13,200.00 Reason for Change Order: Patching needed within East Terminal Apron to allow for proper joint sealing. ALO FAA AIP 3-19-0094-047 CO-2 Project No—60642636 1 Page 137 of 557 CONTRACT PRICE CONTRACT TIMES (Calendar Days) To substantial To final completion completion Original: $ 4,116,725.00 Original: 150 Previous C.O.s(DEDUCT):$ 336,220.00 Previous C.O.s (ADD): 0 This C.O. (ADD): $ 13.200.00 This C.O. (ADD): 4 Contract Price with all REVISED: 154 approved Change Orders: $ 4,466,145.00 It is agreed by the Contractor that this Change Order includes any and all costs associated with or resulting from the change(s)ordered herein,including all impact,delays,and acceleration costs. Other than the dollar amount and time allowance listed above,there shall be no further time or dollar compensation as a result of this Change Order. THIS DOCUMENT SHALL BECOME AN AMENDMENT TO THE CONTRACT AND ALL STIPULATIONS AND COVENANTS OF THE CONTRACT SHALL APPLY HERETO. RECOMMENDED: By: Z?awcZl' 3. 10/28/2021 Engineer(Authorized ignature) Date APPROVED: By: Owner(Authorized Signature) Date Acc>✓UD .,_ By: I� �g Conti or(Authorized Signature) Date ALO FAA AIP 3-19-0094-047 CO-2 Project No—60642636 2 Page 138 of 557 Ale :��I i �-•.,�,+• �'�f�Ira 1 T. rf•` • .• 7`A � 1 l �.:1�. •� ll� f �it'd. �. / Page 139 of 557 f N F 4. Page 140 of 557 "own R tot dMMMOMIM •r , , s two kip :. .r""N Page 141 of 557 1 IL ' �-�� 9•may i, .- f i' - •fit tK•x ''� i � � 1 Page 142 of 557 ��i CITY OF WATERLOO Council Communication Fireworks Display from the top level of the 5th Street Parking Ramp in conjunction with the Waterloo Lights the Night event, on November 27, 2021, beginning at 7:00 p.m. City Council Meeting: 11/15/2021 Prepared: Fireworks Display from the top level of the 5th Street Parking Ramp in SUBJECT: conjunction with the Waterloo Lights the Night event, on November 27, 2021, beginning at 7:00 p.m. Submitted by: Submitted By:Brock Weliver, Fire Marshall Page 143 of 557 CITY OF WATERLOO Council Communication Bonds. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type ❑ Bonds for council approval 11.15.2021 Backup Material SUBJECT: Bonds. Page 144 of 557 BONDS FOR COUNCIL APPROVAL November 15, 2021 RIGHT OF WAY CONSTRUCTION BOND AMOUNT $15,000.00 S464109 MCROBERTS CONSTRUCTION CEDAR FALLS, IA Page 145 of 557 CITY OF WATERLOO Council Communication Motion approving the Annual Financial Report for City Streets, for the fiscal year ended June 30, 2021, and authorizing transmittal to the Iowa Department of Transportation. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ FYE2021 Street Report Council Comm Backup Material ❑ Waterloo FYe2021 Street Finance Report Backup Material Motion approving the Annual Financial Report for City Streets, for the fiscal SUBJECT: year ended June 30, 2021, and authorizing transmittal to the Iowa Department of Transportation. Submitted by: Submitted By:Michelle Weidner, Chief Financial Officer I request that a resolution be adopted approving the Annual Financial Report Recommended Action: for City Streets for the fiscal year ended June 30, 2021 and authorizing the transmittal to the Iowa Department of Transportation. This report summarizes the city's receipts and expenditures relating to streets Summary Statement: and is required to be filed with the State of Iowa by Iowa Code Chapter 312, Section 14. Data/Analysis and Strategies: If the report isn't approved by council and filed by December 1, the City's road use tax payments will be suspended. This report provides the Iowa Department of Transportation and the Federal Alternative: Highway Administration with a documented record of receipts and expenditures made for streets and related activities in the City of Waterloo. Page 146 of 557 CITY OF WATERLOO , IOWA CITY CLERK AND FINANCE DEPARTMENT KELLEY FELCHLE • City Clerk MICHELLE WEIDNER,CPA • Chief Financial Officer Council Communication Mayor City Council Meeting: November 15, 2021 QUENTIN Prepared: November 3, 2021 HART Dept. Head Signature: Michelle Weidner, CFO COUNCIL MEMBERS SUBJECT: Annual Financial Report for City Streets for the Fiscal Year Ended June 30, 2021 MARGARET KLEIN Submitted by: Michelle Weidner, Chief Financial Officer Ward I JONATHAN GRIEDER Recommended City Councilon: request a moe adopted Action: I t that tion b Ward approving the Annual Financial Report for City Streets for the fiscal year ended June 30, 2021 and authorizing the transmittal to the Iowa Department of PATRICK Transportation. MORRISSEY Ward Summary Statement: This report summarizes the city's receipts and JEROME expenditures relating to streets and is required to be filed with the State of Iowa by AMOS,JR. Iowa Code Chapter 312, Section 14. Ward 4 Expenditure Required: None RAY FEUSS Source of Funds- N/A Ward S SHARON Policy Issue: If the report isn't approved by council and filed by JUON December 1 , the City's road use tax payments will be suspended. At-Large Alternative: N/A DAVE BOESEN Background Information: This report provides the Iowa Department of At-Large Transportation and the Federal Highway Administration with a documented record of receipts and expenditures made for streets and related activities in the City of Waterloo. WE'RE WORKING FOR YOU! An Equal Opportunity/Affirmative Action Employer Page 147 of 557 GOIGWADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Expenses General Road Other Debt Capitial Fund Use Special Service Projects Utilities Grand Streets (110) Revenues (200) (300) (600 & UO) Total (001) Salaries- Roads/Streets $1,044,170 $621,458 $1,665,628 Benefits- Roads/Streets $759,568 $328,265 $1,087,833 Training & Dues $525 $525 Building & Grounds Maint. $28,838 $28,838 & Repair Road Beautification $900,000 $900,000 Vehicle & Office Equip $111,103 $24,236 $135,339 Operation and Repair Janitorial $4,773 $4,773 Medical $2,664 $35 $2,699 Street Maintenance $100,952 $186,944 $287,896 Expense Technology Expense $1,407 $13,104 $14,511 Other Contract Services $163,116 $3,500 $166,616 Minor Equipment $6,998 $7,719 $14,717 Purchases Other Equipment $2,707 $2,707 Office Supplies $5,161 $5,161 Operating Supplies $5,154 $5,154 Postage & Safety $4,718 $1,093 $5,811 Other Supplies $2,539 $2,884 $5,423 Page 1 of 10 Page 148 of 557 6010WADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 General Road Other Debt Capitial Fund Use Special Service Projects Utilities Grand IN ir 5001)s (110) Revenues (200) (300) (600 & UO) Total Vehicles $228,425 $259,195 $487,620 Bridges & Culverts $713,767 $713,767 Street- Capacity $8,519,353 $10,890,628 $3,142,408 $22,552,389 Improvement Principal Payment $2,997,381 $2,997,381 Interest Payment $294,037 $294,037 Bond Registration Fees $1,089 $1,089 Parking $101,904 $101,904 Street Lighting $531,599 $531,599 Traffic Control/Safety $1,545,054 $1,545,054 Snow Removal $1,577,107 $1,577,107 Highway Engineering $1,128,636 $1,128,636 Depreciation & Building $34,918 $34,918 Utilities Street Cleaning $190,859 $190,859 Total $101,904 $17,194,827 $12,079,866 $3,292,507 $3,370,833 $450,054 $36,489,991 Page 2 of 10 Page 149 of 557 6010WADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Revenue General Road Other Debt Capitial Fund Use Special Service Projects Utilities Grand Streets (110) Revenues (200) (300) (600 & UO) Total (001) Levied on Property $0 $0 $2,024,292 $2,024,292 TIF Revenues $44,765 $44,765 Other Taxes (Hotel, LOST) $11,886,815 $4,683 $11,891,498 Licenses & Permits $25,733 $25,733 Interest $64,157 $19,969 $84,126 Federal Grants $318 $412,169 $412,487 State Revenues- Road $10,237,796 $10,237,796 Use Taxes Other State Grants - IDOT $1,575,213 $1,575,213 Local Contributions $9,193 $9,193 Charges/fees $101,904 $163,010 $25,727 $450,054 $740,695 Sale of Property& $1,594 $1,594 Merchandise Proceeds from Debt $1,268,215 $3,340,000 $4,608,215 Total $101,904 $10,501,801 $11,932,511 $3,292,507 $5,376,830 $450,054 $31,655,607 Page 3 of 10 Page 150 of 557 6010WADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Bonds/Loans Bond/Loan Principal Total Total Principal Interest Principal Balance Principal Interest Balance Description As of 7/1 Paid Paid Roads Roads As of 6/30 2014C GO $1,140,000 $570,000 $22,800 $160,835 $6,433 $570,000 2017A GO $6,565,000 $810,000 $130,900 $80,811 $13,059 $5,755,000 2018A GO $8,125,000 $885,000 $243,750 $101,036 $27,828 $7,240,000 2020A GO $7,025,000 $420,000 $129,572 $233,466 $72,025 $6,605,000 2014A GO $4,680,000 $870,000 $141,056 $102,683 $16,648 $3,810,000 2013A GO $3,315,000 $3,315,000 $85,238 $559,137 $14,377 $0 2012A GO $3,325,000 $3,325,000 $69,530 $1,230,420 $25,730 $0 2016A GO $5,760,000 $735,000 $116,400 $180,319 $28,557 $5,025,000 2015A GO $8,660,000 $785,000 $270,481 $113,078 $38,962 $7,875,000 2019C GO $2,350,000 $395,000 $47,000 $116,147 $13,820 $1,955,000 2019A GO $6,230,000 $610,000 $186,900 $119,449 $36,598 $5,620,000 2021A GO $14,370,000 $0 $0 $0 $0 $14,370,000 Page 4 of 10 Page 151 of 557 QIOWADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Equipment Description Model Year Usage Type Cost Purchased Status Deere 770CH Motor Grader 1998 Purchased $154,900 No Change Ferguson 4988 Static Roller 2006 Purchased $38,962 No Change Deere 624K 4WD Loader 2009 Purchased $119,556 No Change Crafco Trailer-Mounted Crack Sealer EZ1000EB 2011 Purchased $36,594 No Change Deere 672D 4WD Motor Grader 2009 Purchased $148,008 No Change Caterpillar Vibrator Roller 1991 Purchased $50,000 No Change Target Pro 65 Cement Saw 1991 Purchased $8,000 Junked Caterpillar Reclaimer 1991 Purchased $250,000 No Change Angle Broom for Deere 260 Skid Loader 2003 Purchased $5,130 No Change Deere 260 Skid Loader with 48" Forks, Bucket, Plow 2000 Purchased $33,100 No Change Tink Bucket Grapple for End Loader 1999 Purchased $6,800 No Change John Deere 770G Grader 2014 Purchased $193,257 No Change Deere 770CH Motor Grader 1998 Purchased $154,900 No Change Deere 770CH Motor Grader 1998 Purchased $154,900 No Change Maurer 20'Tandem Trailer 2000 Purchased $5,365 No Change Freightliner Single Axle Dump Truck M2106V 2009 Purchased $111,538 No Change Freightliner Single Axle Dump Truck M2106V 2009 Purchased $111,538 No Change Sno-Go Loader-Mounted Snow Blower 1990 Purchased $38,143 No Change Freightliner M2106 Asphalt Patcher 2008 Purchased $103,783 No Change Freightliner Dump Truck 2017 Purchased $138,452 No Change Freightliner Dump Truck 2017 Purchased $138,452 No Change Page 5 of 10 Page 152 of 557 Q010WADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 IL Elgin Pelican Street Sweeper 2015 Purchased $187,104 No Change Ford SD F350 1 Ton Pickup -White 2016 Purchased $49,981 No Change Ford SD F350 1 Ton Pickup -White 2016 Purchased $49,981 No Change Ford F150 Supercab XL-White 2014 Purchased $24,157 No Change Ford F150 Supercab XL-White 2014 Purchased $24,157 No Change Ford F150 Supercab XL-White 2014 Purchased $23,530 No Change Ford F 250 Pickup-White 2000 Purchased $23,402 Sold Elgin Pelican Dual Street Sweeper Series P 2004 Purchased $106,000 Sold Elgin Pelican Street Sweeper Series P 2004 Purchased $108,275 Traded Etnyre Chip Spreader 1999 Purchased $132,925 No Change Ingersoll Rand PT125R Pneumatic Tire Compactor 1998 Purchased $41,700 No Change Navistar 4700 Oil Distributor with Tank& Sprayer 2002 Purchased $88,807 No Change International 7300 Single Axle Dump Truck 2019 Purchased $150,964 No Change International 7300 Single Axle Dump Truck 2019 Purchased $150,964 No Change Freightliner 108SD Dump Truck 2014 Purchased $130,401 No Change Freightliner 108SD Dump Truck 2014 Purchased $130,401 No Change Deere 655K-II 4WD Loader with Bucket 2016 Purchased $113,900 No Change Deere 544J End Loader 2004 Purchased $118,160 No Change Grapple Bucket for End Loaders 2008 Purchased $14,950 No Change Deere310SE Wheel Loader Backhoe w/Tamper Ext 1999 Purchased $66,400 No Change Intl Tandem Dump Truck w/anti-icing system 2010 Purchased $131,533 No Change Intl 7300 Single Axle Dump Truck 2010 Purchased $113,600 No Change Elgin Pelican Street Sweeper 2010 Purchased $161,261 No Change Page 6 of 10 Page 153 of 557 QOJOWADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Description Model Year Usage Type Cost Purchased Status Pickup Line Striper AL 120 2008 Purchased $32,003 No Change Ford Ranger Pickup 2002 Purchased $15,127 No Change Ford F550 Aerial Boom Truck 2018 Purchased $126,847 No Change Ford F250SD SRW 2019 Purchased $42,713 No Change Grand Lazer Paint Machine 2019 Purchased $5,926 No Change Ford F750 Digger Derrick 2007 Purchased $122,723 No Change Line Lazer IV 3900 with Beat Kit (walk behind) 2016 Purchased $5,568 No Change Line Lazer IV 5900 with Line Driver HD & Dual Based System 2016 Purchased $11,924 No Change Ford F250 SD SRW Truck 2020 Purchased $32,492 No Change Freightliner M2106 Dump Truck 2006 Purchased $84,565 No Change Freightliner M2106 Dump Truck 2006 Purchased $84,565 No Change Freightliner M2106 Dump Truck-Yellow 2004 Purchased $67,962 No Change Freightliner M2106 Dump Truck-Yellow 2004 Purchased $67,962 No Change Freightliner M21106 Dump Truck-Yellow 2004 Purchased $67,962 No Change Freightliner FL80 Dump Truck 2003 Purchased $75,622 No Change Intl 4700 T444E Dump Truck 2001 Purchased $68,064 No Change Intl 4700 T444E Dump Truck 2001 Purchased $68,064 No Change Ford F450-550 White Flatbed Pickup 2003 Purchased $34,092 No Change Chevy Colorado 1/2 Ton Pickup -White 2005 Purchased $15,456 Sold Ford F350 XLS Dually Pickup 2005 Purchased $20,878 No Change Ingersoll Rand 185 Compressor 1990 Purchased $8,008 No Change Elgin Pelican Street Sweeper 2011 Purchased $165,352 No Change Freightliner M2105V Dump Truck w/anti-icing system 2012 Purchased $132,109 No Change Page 7 of 10 Page 154 of 557 QOJUWADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 bL Freightliner M2106V Dump Truck w/anti/icing system 2012 Purchased $134,132 No Change Freightliner M2106V Dump Truck w/anti/icing system 2012 Purchased $134,132 No Change Ford F750 Truck with Aerial 2004 Purchased $103,027 No Change FT10 Pan Drop Deck Tilt Trailer 2019 Purchased $6,711 No Change Ford F550 Service Truck 2019 Purchased $119,149 No Change Crafco SS 125DC Melter for Crack Sealing 2020 Purchased $73,570 No Change HAMM HD10 Tandem Roller 2018 Purchased $34,683 No Change Deere 332G Skid Steer Loader 2019 Purchased $63,990 No Change PJ 20 Ft Tilt Trailer 2020 Purchased $6,750 No Change Intl 7300 Single Axle Dump Truck 2010 Purchased $113,600 No Change Ford E350 Truck 2019 Purchased $33,174 New Concrete Dowell Drill 2020 Purchased $8,495 New Self-Propelled 25 Ft Screed 2020 Purchased $7,195 New Elgin Single Engine Crosswind Vacuum Sweeper 2020 Purchased $267,195 New Page 8 of 10 Page 155 of 557 GOIGWADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Street Projects Final Price Ine FY18 Ansborough Ave Improvements $770,396 $795,555 K Cunningham Construction Company FY19 Dysart, Franklin, W 2nd St $1,258,033 $1,203,278 K Cunningham Construction Company Reconstruction FY20 Asphalt Overlay Program $3,219,441 $3,222,553 Aspro, Inc. & Subsidiaries FY20 Street Construction $3,644,934 $3,580,544 Aspro, Inc. & Subsidiaries Page 9 of 10 Page 156 of 557 GOIGWADOT City Street Finance Report Fiscal Year 2021 Bureau of Local Systems Waterloo 11/9/2021 6:52:38 PM Ames, IA 50010 Summary IF General Road Other Debt Capitial Fund Use Special Service Projects Utilities Grand Streets (110) Revenues (200) (300) (600 & UO) Total (001) Begining Balance $0 $20,503,857 $11,149,465 $0 $4,071,993 $0 $35,725,315 SubTotal Expenses (-) $101,904 $17,194,827 $12,079,866 $3,292,507 $3,370,833 $450,054 $36,489,991 Subtotal Revenues (+) $101,904 $10,501,801 $11,932,511 $3,292,507 $5,376,830 $450,054 $31,655,607 Ending Balance $0 $13,810,831 $11,002,110 $0 $6,077,990 $0 $30,890,931 Resolution Number: Execution Date: Monday, November 15, 2021 Signature: Michelle Weidner Page 10 of 10 Page 157 of 557 CITY OF WATERLOO Council Communication Request by Alberta Young to vacate the public sidewalk in front of the lot located at 914 Sumner Street. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ Council Packet Backup Material Motion to receive and file proof of publication of notice of public hearing_ HOLD HEARING -No comments on file. Motion to close hearing and receive and file oral and written comments, and recommendation of approval of the Planning, Programming and Zoning Commission. SUBJECT: Motion to receive, file, consider and pass for the first time an ordinance approving a request by Alberta Young to vacate the public sidewalk in front of the lot located at 914 Sumner Street, and authorizing the Mayor and City Clerk to execute said documents. Motion to suspend the rules. Motion to consider and pass for the second and third times and adopt the ordinance. Submitted by: Submitted By:Noel Anderson, Community Planning and Development Director Recommended Action: Approval Transmitted is a request by Alberta Young to vacate the sidewalk in front of the lot located at 914 Sumner Street, and instruct the City Clerk to publish notice. The applicant is requesting to vacate 50 linear feet of public sidewalk, so the owner will no longer have to maintain the sidewalk, in front of the lot at 914 Sumner Street. The site and surrounding properties have been zoned "R-2"One and Two- Family Residence District since the adoption of the Zoning Ordinance in 1969. Summary Statement: The applicant is requesting to vacate the portion of the public sidewalk in front of their property. The applicant is planning to reconstruct the private walkway to the home and the sidewalk will require extensive repairs. However, the sidewalk is an island with no sidewalks on the rest of the block and there are currently no plans to add sidewalks to the block. The complete streets committee reviewed the proposal and did not take a position on the vacate request. Page 158 of 557 At their October 12th, 2021 meeting, the Planning, Programining, and Zoning Commission voted unanimously to recommend approval of the request. The request to vacate the sidewalk would not appear to have a negative impact on the neighborhood as this sidewalk segment is an island with no other sidewalk sections on the south side of Sumner Street for two blocks. Therefore, staff recommends the request Alberta Young to vacate 50 linear Neighborhood Impact: feet of sidewalk at 914 Sumner Street, be approved for the following reasons: 1. The request to vacate would not appear to have a negative impact on the surrounding area. 2. The request to vacate would not appear to have a negative impact on vehicular or pedestrian traffic conditions in the area. 3. The public sidewalk is no not needed for pedestrian purposes. Data/Analysis and Strategies: City Sidewalk Vacate Expenditure Required/Source of None Funds: Legal Descriptions: Page 159 of 557 October 12,2021 REQUEST: Request by Alberta Young to vacate the sidewalk in front of the lot located at 914 Sumner Street in the "R-2" One and Two- Family Residence District. �LE9TFLA= 1312' ERSi� �- n7-,I I I Is�FC Z� A-1 - OILIIIIIV�E���R���STo T �,,T��� w LLW I I�NllJ�Illf_� �®ff Im O FM� GAELSST�I O®I IIII 2�Z�y11LL11.W ®TM jTT M11M[x M-2 ®MTJP a M-2 R-2 rr®,7®''''49QuiNcys �EWELL'sr ®Q]-FTIlll � �rfTTTT k I Z MSTJ RNH�NL]w M® C_2 :TTI FFF D I IJ �� y N �1lIfTTiTliTll R-2,C-z' x® ¢�® R-2 zwcUazl4ACET ®�RTsr �® .Z''0 sTuNE ® y° DNEluasr— w x R-2 R 3 R-P C=1 X y i U `MLLOWST C_P TCTiITI I ` '{,_1 SNs.L1AMAVEI R=3 J J IL L C-iV ALEANYST -C'i� M_i DOUGtASS' Vik y� R-,P_ LIME Si �h1;� y-r7-�-�-��''�[ ®®®� VIIIIJ_LLL T 'I®® YfNE S W—_ PRO�SPEILCl�TI1 IA1 1 VIi E1-rLl GLEhWD5 3 ` I'll 1. A vrsR ALTA. Ll�ulr[-{3 snlsr Ij �� -2 h I IIF NIC-2 C-2 F ,k✓ MDEYENDENCEAVLE� 3, FAMTV E_ �DURnAND ST � _ WRL ll P n CLw X51 Ey M_i y z=M 1 C2 Ii 9R-3;R=P si � �F�� x�o_ x nroxROHEsr� R'g R=3 p9C y�EOWLERS� R-2 L � ® R-2,c z C-Z ��LKsT ® *3' C-2 ®® C-2 LLLLll E H S ®fie-z T�I w 11 - iwu 1 APPLICANT(S): Alberta Faye Young, 914 Sumner Street, Waterloo, Iowa 50703 GENERAL The applicant is requesting to vacate 50 linear feet of public DESCRIPTION: sidewalk, so the owner will no longer have to maintain the sidewalk, in front of the lot at 914 Sumner Street. Vacate-914 Sumner Page 1 of 6 Page 160 of 557 October 12,2021 r Legend �17J_J Sidewalk at 914 Sumner I 914 Sumner Sumner i l J_Law IMPACT ON The request to vacate the sidewalk would not appear to have a NEIGHBORHOOD & negative impact on the neighborhood as this sidewalk segment is SURROUNDING LAND an island with no other sidewalk sections on the south side of USE: Sumner Street for two blocks. VEHICULAR & The request to vacate would not appear to have a negative PEDESTRIAN impact on vehicular or pedestrian traffic in the area. TRAFFIC CONDITIONS: RELATIONSHIP TO There are no trails in the area. RECREATIONAL TRAIL There are no sidewalks other than in front of the applicant's PLAN and COMPLETE property on this block of Sumner Street. The property in question STREETS POLICY. is on the south side of the street with no sidewalks present until past Beech Street. There is no sidewalk within this block, and it is not anticipated that the area would be prioritized for any future Vacate-914 Sumner Page 2 of 6 Page 161 of 557 October 12,2021 sidewalk infill project, however, the sidewalk in question is only 132' from the existing sidewalk along Beech Street. ZONING HISTORY The site has been zoned "R-2" One and Two-Family Residence FOR SITE AND District since the adoption of the Zoning Ordinance in 1969. IMMEDIATE VICINITY: North — Residential — "R-2" One and Two-Family Residence District. South — Residential — "R-2" One and Two-Family Residence District. East — Residential — "R-2" One and Two-Family Residence District. West— Residential and Dr. Walter Cunningham School of Excellence — "R-2" One and Two-Family Residence District. BUFFERS REQUIRED/ The request would not require any buffering by ordinance NEEDED: standards. DRAINAGE: The proposed vacate would not appear to have a negative impact on drainage. DEVELOPMENT The area primarily consists of single-family homes constructed HISTORY: between 1907 and 2004. FLOODPLAIN: The vacate area is not located in a special flood hazard area as indicated by the FEMA Flood Insurance Rate Map No. 1900025 0189F. PUBLIC /OPEN Cunningham School of Excellence is located 1 block to the SPACES/ SCHOOLS: northwest, George Washington Carver Middle School is located 1.44 miles to the northwest, and East High School is located 0.631 miles to the southwest. UTILITIES: WATER, There is an 8" sanitary sewer line located in Sumner Street. SANITARY SEWER, There are overhead power lines located on the north side of STORM SEWER, ETC. Sumner Street. RELATIONSHIP TO The area on the future land use map is Low-Density Residential. COMPREHENSIVE The proposed vacate is in compliance with the future land use LAND-USE PLAN: map. Vacate-914 Sumner Page 3 of 6 Page 162 of 557 October 12,2021 STAFF ANALYSIS — ZONING ORDINANCE: F@ - Picture 1: Looking at 914 Sumner Street. 'I M� 1 +4. Picture 2: Looking at sidewalk in front of 914 Sumner Street. The applicant is requesting to vacate the portion of the public sidewalk that sits in front of their property. The applicant is planning to reconstruct the private walkway to the home and the sidewalk will require extensive repairs. However, the sidewalk is Vacate-914 Sumner Page 4 of 6 Page 163 of 557 October 12,2021 an island with no sidewalks on the rest of the block and there are currently no plans to add sidewalks to the block. 1 Picture 3:I Looking toward Cunningham School for Excellence. The complete streets committee reviewed the proposal and did not take a position on the vacate request. Picture 4: Looking from Beech Street past the sidewalk toward 914 Sumner Street. Vacate-914 Sumner Page 5 of 6 Page 164 of 557 October 12,2021 At their October 12th, 2021 meeting, the Planning, Programming, and Zoning Commission voted unanimously 6-0 to recommend approval of the request. STAFF ANALYSIS — There would be no platting required in relation to the request. SUBDIVISION ORDINANCE: STAFF Therefore, staff recommends the request Alberta Young to RECOMMENDATION: vacate 50 linear feet of sidewalk at 914 Sumner Street, located in the "R-2" One and Two-Family Residence District, be approved for the following reasons: 1. The request to vacate would not appear to have a negative impact on the surrounding area. 2. The request to vacate would not appear to have a negative impact on vehicular or pedestrian traffic conditions in the area. 3. The public sidewalk is no not needed for pedestrian purposes. Vacate-914 Sumner Page 6 of 6 Page 165 of 557 City of Waterloo Planning, Programming and Zoning Commission October 1 =111. 1111■ �'�i�1� = :�1111 ■111 1111 1111111 . 1111 illi■ 1111111 11 1 =1111 1■11111111111 �, 11 � 11 � ■1111111111111 _ _ 1111 11111 _ _ � �'111: 111111= 11111 • ■ — � — 1111111111 ■■111 -- � - - -- -- - -- -- 111 III 111 ' --— /1111111 1111111 �L Illli 111■1111• =- ■�� i � � ■■ ■ 11111111 1111 11111111111 ■1�1 11�� =■ ■ 1111111 • _1111111 IIII _ _ ■■ =11111 IIIIIIIII ■_■ ■■■ 11111111111111■ 11 =1 � ■■ =11� X11111111 �� ■■1■■ �� 1� nllllllll ,�. =� ■11� II■11 = ■111111■ 1111191■ _ 11111 1 111111 ■ ;1_III■LI - 1111 ■�1 - 1 I�11111 �-_ -1111■■ !III 111111 IIIIIIIIII ISI■II 1■■■1 ■I ' 1 _ 1111�1�11111111� 11 i'llll■ 11 .I IIIIIIIIII IIIIIIIII =I■I lil lil ► _ 111111 Iii :11 IIIIIIIII 111111111 ■ ■■ ■HIM 1, 111 . 1111 INN III ! ■ _ _ - �111111� — � � ;, � �- � 11111111 • SON 1■ :111 ., �IIIIII III 1 1 11. —_■= ■II ■ 111111111 _ 111111 _ is � ' ` \ =� ✓ ■ � —� � 111■ 111., ���� = 11111 111 1111111111111 � � _ � � ■■ � 1■11111 11111 1111111 i � lig�_ _ ■_ � 1■■ 1■ 111■ �����"'�' - 1111111111111= 'IIII I■ 11111 11 1■11� -• � - 111111 — � �' 1111!' ■ � ••• ��� �_• . Ili 1111111 11111 ��: � ■ _ : � 1► �■ __ - = ■11111 111■II � '�I ' Ian i111111� 1 LJI � ► �'� i � � 111■ 1111111 ■ 11III■11 e 1 I 111■ 1111111■111 ■111 ■ . 1111_ Chi 111 _ 914 Sumner Street Sidewalk Vacate Alberta Young 500 0 1 000 erloo `off -.•' 166 of City of Waterloo Planning, Programming and Zoning Commission October 12, 2021 J Vacate Area i 914 Sumner 1 I 1 �11 '} r a f i• � Legend ® 914 Sumner AWL- ,►. Sidewalk at 914 Sumner W+N 914 Sumner E Sidewalk Vacate s Alberta Young Page 167 of 557 City of Waterloo Planning ani Zoning Department 715 Mulberry Street,Waterloo,Iowa 50703 (319)291-1366 Offer to Vacate and Purchase City Right-of-Way Request to Vacate Easement,Vacate Sidewalk, or Encroachment Agreement ® Sale of City-Owned Property Applicant: Q f Fr+ Address: _ 5 w m 1)e,r Phone No.: j L General Description of Property to Vacated(i.e.-alley between A St. &B St., South of C St.): Sl 04WJ�Z44 U ftur7C, a f 611`+ Stt.-.tt e� 1 t Legal description of area to be conveyed,vacated, or encroached: 1. A non-refundable filing fee(s)shall be made as follows(checks payable to City of Waterloo): Right-of-way vacation—One Hundred Seventy Five Dollar($175.00)Filing Fee ® Easement or sidewalk vacation—Seventy Five Dollar($75.00)Filing Fee • Encroachment—One Hundred Dollar($100.00)Filling Fee • Sale of city-owned property not required to be vacated—No Fee • Any request not meeting the Sale of Property Policy—One Hundred Dollar($100.00)Fee 2. Offer Price*[Note: If the offer price meets the Sale of Property Policy(see attached)the request will not be required to be reviewed by the Building&Grounds Committee.] • Asking price(see attached Sale of Property Policy for how calculated): • Deductions • May decrease price by 50%for area located within an easement: • May decrease price for the City tax that will be collected on the land within 5 yrs(8 yrs inside of the CURA): • Costs(surveying&misc.,demolition,remove of curbs, etc): Asking price—Deductions=Value of Property: Offer Price for Entire Area: Note: The above information is a summary of the Sale of Property Policy(see attached). All requests to vacate and purchase City right-of-way must be accompanied by a signed"Intent to Vacate"form for each abutting property to the area to be vacated. Any request that fails to meet the Sale of Property Policy shall not be forwarded to the Building and Grounds Committee or City Council.Any such applicant shall need to request review to Building and Grounds through a City Council member. 3. Publication and Recording Fees*: At the time a buyer(s)has been selected, all publication costs and recording fees must be paid by the applicant. Applicant shall be responsible for collecting from other buyers. 4. Easement*: The following easement shall be retained: 5. Other: Please provide a site plan and/or aerial photo of the area to be vacated if the request involves additional construction as the reason for the request. 9 / /9 /a oc--), / A.pp icant Date / 'Not required for easement vacates sidewalk vacates or Encroachment Agreements Page 168 of 557 CITY OF WATERLOO Council Communication 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract for city owned lots generally acquired through Iowa Code 657A. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ 2021-2022 Planning and Zoning Snow Removal RFB Backup Material ❑ 2021-2022 Planning and Zoning Snow Removal RFB Backup Material Published Notice ❑ 2021-2022 Snow Removal Contract Backup Material Motion to receive and file proof of publication of notice of public hearing. HOLD HEARING -No comments on file. Motion to close hearing and receive and file oral and written comments. Resolution conf ring approval of plans, specifications, form of contract, etc., and authorizing to proceed. SUBJECT: Motion to receive, file and instruct the City Clerk to read bids. Resolution awarding bid to B & B Lawn Care, Inc., of Waterloo, Iowa in the amount of$25.48 per lot/occurrence, approving the contract and certificate of insurance in conjunction with the 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract for city owned lotseg nerally acquired through Iowa Code 657A, and authorizingthe e Mayor and City Clerk to execute said documents. Submitted by: Submitted By:Noel And erson,CommunitvPlanning and Development Director Recommended Action: Approval The City of Waterloo through its Dilapidated Housing Task force has acquired approximately 215 properties over the last several years using Iowa Code 657A. A majority of the properties where demolished, with some being Summary Statement: sold with development agreement and rehabilitated, and some still awaiting to be demolished. Lots owned by the City of Waterloo must be maintained, including snow removal. This bid will select a snow removal contractor for the lots. Neighborhood Impact: Data/Analysis and Strategies: Property Maintenance Implementation,Accountability, Nuisance abatement and Communication: Expenditure Required/Source of Unknown/Nuisance abatement bonds. Estimated at$20 per lot per Page 169 of 557 Funds: occurrence. Page 170 of 557 CITY OF WATERLOO , IOWA Request for Bid 2021 -2022 RESIDENTIAL/MISCELLANEOUS AREAS SNOW REMOVAL CONTRACT October 2021 City of Waterloo, Iowa Prepared by the City of Waterloo Planning and Zoning Department Page 171 of 557 SECTION I—INSTRUCTION TO BIDDERS 1.0 EXPLANATION TO BIDDERS Any explanation desired by a bidder regarding the meaning or interpretation of the Request for Bid must be requested in writing via email, letter, or fax, and with sufficient time allowed for a reply to reach all bidders before submission of their bids.Any interpretation or changes made to the RFB will be in the form of an addendum of the Request for Bid and will be furnished to all prospective bidders. All prospective bidders will receive email notifications of any addendums by the Project Manager.All bidders must acknowledge in the space provided on the Bid Form acknowledgement of such addendums received by the Project Manager prior to the 1:00 p.m. bid deadline set for the opening of bids. Oral explanations or instructions given before the award of the contract will not be accepted. 1.1 PROPOSALS SUBMITTED All bids must be submitted on forms supplied by the Planning and Zoning Department. Before submitting a bid, each bidder shall carefully read the specifications and all other contract documents. Each bidder shall be fully informed,prior to the bidding, as to all existing conditions and limitations under which the work is to be performed and shall include in this bid a sum to cover the cost of all items necessary to perform the work as set forth in the contract documents.No allowance will be made to any bidder because of lack of such examination or knowledge. The submission of a bid shall be construed as conclusive evidence that the bidder has made such examination. The bidder's attention is directed to the fact that all applicable state laws,municipal ordinances and the rules and regulations of all authorities having jurisdiction over the project shall apply to the Contract throughout and they shall be deemed to be included in the Contract the same as though herein written out in full. Submit sealed bid to (address exactly as stated): SEALED RFB FOR 2021-2022 RESIDENTIAL/MISCELLANIOUS AREAS SNOW REMOVAL CONTRACT City Hall City Clerk's Office 715 Mulberry Street Waterloo,IA 50703 Bids should be mailed, overnight delivery, or in-person delivery(no electronic or fax submittals). 1.2 BID SECURITY REQUIRED All bids must be accompanied, in a separate envelope,by a certified or cashier's check drawn on an Iowa bank chartered under the laws of the United States or the State of Iowa, a certified share draft drawn on a Credit Union in Iowa chartered under the laws of the United States or the State of Iowa, or a bid bond payable to the City of Waterloo, Iowa, in the sum of Fifteen Hundred Dollars ($1,500.00), which certified check, certified share draft, or bid bond will be held as security that the Bidder will enter into a Contract for the snow removal work and will furnish the required certificate(s) of insurance, and in case the successful bidder shall fail or refuse to enter into the Contract, the bid security may be retained by said City as agreed liquidated damages. If a bid bond is used, it must be signed by both the bidder and the surety or the surety's agent. Signature of surety's agent must be supported by accompanying Power of Attorney. 1.3 LATE BIDS AND MODIFICATIONS OR WITHDRAWALS Bids and modifications or withdrawals thereof received at the office designated in the Request for Bid and Notice of Public Hearing and Notice to Bidders after the exact time set for closing of bids-(Thursday,November 4,2021,at 1:00 p.m.)will not be considered.However, a modification which is received from an otherwise successful bidder, and which makes the terms of the bid more favorable to the City,will be considered at any time it is received and may thereafter be accepted. Bids may be withdrawn by written request received from bidders prior to the time set for closing of bids. 1.4 PUBLIC OPENING OF BIDS Bids will be publicly opened at the specified time and place for opening in the Request for Bid and Notice of Public Hearing and Notice to Bidders. Their content will be made public for the information of bidders and others interested who may be present either in person or by representative. 1.5 EMPLOYMENT AND BUSINESS OPPORTUNITY To the greatest extent feasible, suppliers, subcontractors, and low income workers owning businesses or living in the Page 172 of 557 Waterloo area must be given priority in supplying materials,bidding for subcontract work, or applying for employment by the contractor on this project. Opportunities for training and for employment arising in connection with this project, shall to the greatest extent feasible be made available to lower income persons residing in the project area. The project area is the City of Waterloo. The City of Waterloo will require the contractor to document his efforts in securing lower income workers living in the project area and in purchasing supplies from, and awarding subcontracts to,businesses owned by persons residing in the project area. 1.6 STATEMENT OF BIDDER'S QUALIFICATIONS Each Bidder shall,upon request of the Planning and Zoning Department, submit on the form furnished a statement of the Bidder's qualifications,his/her experience record in completing the type of project proposed, and equipment available for the work contemplated; and when requested,a detailed financial statement. The Planning and Zoning Department shall have the right to take such steps as it deems necessary to determine the ability of the Bidder to perform obligations under the Contract; and the Bidder shall furnish the Planning and Zoning Department all such information and data for this purpose as it may request. The right is reserved to reject any bid where an investigation of the available evidence or information does not satisfy the Planning and Zoning Department that the Bidder is qualified to carry out properly the terms of the Contract. 1.7 EXECUTION OF AGREEMENT AND CERTIFICATE OF INSURANCE A. Subsequent to the award and within ten(10)days after the prescribed forms are presented for signature,the successful bidder shall execute and deliver to the City, an agreement in the form included in the contract documents in such number of copies as the City,may require. B. The successful bidder shall,within the period specified in paragraph"A" above, furnish a certificate of insurance for approval in amounts of not less than the amounts specified in the Contract Documents. The certificate of insurance shall be furnished in such number of copies as the City of Waterloo may require. The City of Waterloo shall be named as an "Additional Named Insured." The contractor shall similarly submit his subcontractor's certificates of insurance in the same amounts for approval before each commences work. The contractor shall carry or require that there be Worker's Compensation insurance for all its employees and those of its subcontractors engaged in work at the site,in accordance with State Worker's Compensation Laws. C. The failure of the successful bidder to execute such agreement and to supply the required certificate(s)within ten(10) days after the prescribed forms are presented for signature, or within such extended period as the City,may grant,based upon reasons determined sufficient by the City,may either award the contract to the next lowest responsible bidder or re- advertise for bids, and may charge against the bidder the difference between the amount of the bid and the amount for which a contract for the work is subsequently executed,irrespective of whether the amount thus due exceeds the amount of the bid guaranty. If a more favorable bid is received by re-advertising,the defaulting bidder shall have no claim against the City of Waterloo for a refund. SECTION II—GENERAL CONDITIONS 2.0 DEFINITIONS Whenever used in any of the Contract Documents,these terms shall be defined as follows: Contract-means the Contract or Agreement executed by and between the City of Waterloo and the Contractor. Contractor-means the person, firm or corporation entering into the Contract with the City of Waterloo,to maintain properties as described in the Specifications provided. Contract Documents-means and shall include the following: Executed Contract or Agreement,Addenda(if any), Invitation for Bids,Instructions to Bidders, Signed copy of Bid, General Conditions, Special Conditions, Specifications, and(Plans or Drawings when required). Page 173 of 557 Owner or Local Public Agency(LPA)-means the Planning and Zoning Department of the City of Waterloo. Project Manager-means the City's representative from the Planning and Zoning Department, Aric Schroeder, City Planner/Project Manager. Email address: aric.schroeder(a)waterloo-ia.org Phone: 319-291-4366 2.1 SUPERINTENDENCE BY CONTRACTOR Except where the Contractor is an individual and gives personal superintendence to the work,the Contractor shall provide a competent superintendent, satisfactory to the Planning and Zoning Department/City of Waterloo, on the work site at all times during working hours with full authority of the Contractor. The Contractor shall also provide an adequate staff to properly coordinate and expedite the work. The Contractor shall lay out and be responsible for all work executed under this Contract. The Contractor shall verify all information before proceeding with the work and be held responsible for any error resulting from failure to do so. 2.2 OTHER CONTRACTS The City of Waterloo may award or may have awarded other Contracts for additional work, and the Contractor shall cooperate fully with other Contractors,by scheduling work under this Contract with that to be performed under other Contracts as may be directed by the Planning and Zoning Department/City of Waterloo. The Contractor shall not commit or permit any act in which will interfere with the performance of work by any other Contractor as scheduled. 2.3 FITTING AND CORRDINATION OF THE WORK The Contractor shall be responsible for the proper fitting of all work and for the coordination of the operations of all Subcontractors engaged upon this Contract.The Contractor shall be prepared to guarantee to each Subcontractor the locations and measurements which they may require for the fitting of their work to all surrounding work. 2.4 CARE OF WORK The Contractor shall be responsible for all damages to person or property that occur as result of negligence in connection with the execution of work and shall be reasonable for the proper care and protection of all materials delivered and work performed until completion and final acceptance by the Planning and Zoning Department. The Contractor shall provide sufficient security,both day and night, including weekends and holidays, from the time the work is commenced until final completion and acceptance, except when work being performed does not require protection. The Contractor shall be responsible for any loss of work,materials, equipment or time due to acts of any person on the project site. Therefore, it is the responsibility of the Contractor to determine when security is needed. The Contractor shall avoid damage to existing sidewalks, streets,curbs,pavements, structures,and utilities except those which are to be replaced or removed.Any damage caused by the Contractor's operation shall be completely repaired at no expense to the Owner. 2.5 OTHER GENERAL REOUIREMENTS The Contractor shall be responsible for being informed as to all existing conditions and limitations under which the work is to be performed.No extra allowance will be made because of lack of such examination or knowledge. Contractor shall not disturb (damage) existing walks, drives,parking areas,trees, shrubs,or turf areas outside the limits of the project. If disturbed,these items shall be replaced by the Contractor at no cost to the City or the Owner. Trees and shrubs located in or near the project area shall be protected by the Contractor from damage by workers and equipment during time of performing services.Upon request,the City Forester will determine the extent of protection necessary for the trees. 2.6 PERMITS AND CODES The Contractor shall give all notices required by, and comply with all applicable municipal and state laws, ordinances and codes. Page 174 of 557 2.7 LIABILITY INSURANCE The Contractor shall at all times during the term of the Agreement maintain in full force and effect, at its own expense, Employer's Liability,Worker's Compensation,Automobile,Public Liability and Property Damage Insurance, and other insurance as set forth below, including contractual liability coverage for the indemnity and hold harmless provisions of this Agreement. Each policy shall require at least 30 days' advance written notice to the City in the event of cancellation or material change in terms. The City of Waterloo,Iowa shall be specifically named as an additional insured on all insurance. Such coverages shall be primary,non-contributing and contain waivers of subrogation against any coverage held by the City. Before commencement of work hereunder,the Contractor agrees to furnish the City with certificates of insurance or other evidence satisfactory to the City to the effect that such insurance has been procured and is in force. Insurance coverages shall comply with the limits specified below: Coverages Minimum Limits of Liability Worker's Compensation Statutory Employer's Liability $500,000 Bodily Injury Liability (Except automobile) $1,000,000 each occurrence Property Damage Liability (Except automobile) $1,000,000 each occurrence Automobile Bodily Injury Liability $1,000,000 each occurrence Excess Liability $5,000,000 Automobile Property Damage Liability $1,000,000 each occurrence SECTION III—SPECIAL TERMS AND CONDITIONS AND SERVICE REQUIREMENTS 3.0 TERM OF CONTRACT The initial term of the Contract shall be for four(4)months, anticipated to be from November 15,2021 to March 14, 2022. A Contract,approved by the City Council and signed by the mayor, shall become the document that authorizes the Contract to begin, assuming the insurance and bond requirements have been met. Each section contained herein, any addenda, and the response(Bid)from the successful bidder, and all exhibits to the RFB shall also be incorporated by reference into the resulting Contract. No price escalation will be allowed during the initial term of the Contract. If it is mutually decided to renew beyond the initial period and the Contractor requests a price increase,the Contractor shall provide documentation on the requested increase. The City reserves the right to accept or reject price increases,to negotiate more favorable terms, or to terminate(or allow to expire)without cost,the future performance of the Contract. 3.1 TERMS OF PAYMENT Payment to the Contractor for services performed shall be paid on a monthly basis. Payments shall be based on the actual number of snow events 1" or more removed from properties that snow removal occurred during the previous month. A detailed bill of completed snow removal work must be received and approved by the Planning and Zoning Department located at 715 Mulberry St.,Waterloo,Iowa before payments will be made. The billing shall include: • Property addresses and/or description of where work was performed • Number of times sidewalks were cleared at each property each month • When salt/sand is used the following shall be provided: o Pounds/tons used including rate per Tons/pounds o Property address(s) or general description(s)of where it was used o Number of applications applied per month 3.2 SCOPE OF WORK The Contractor shall provide all labor, equipment and material necessary for snow removal and application of sand/ice melt for approximately 215 Residential and miscellaneous lots/areas in accordance with bid specifications.Assigned areas shall have snow removed each time there is a snow event of at least 1 inch,which shall be completed within 48 hours from the end of the snow event. The bid specs require that the full width of the sidewalk be cleared along the full width of each property(lot) down to the pavement. A good-faith attempt will need to be made to clear down to the pavement. In the event that it is impossible,because of ice or other hazard,then sand or other abrasive material, (such as Ice Melt or Page 175 of 557 another approved product)may be used so pedestrian traffic is safe. Only use sand/ice melt in amounts to make pedestrian traffic safe. Do not coat sidewalk with a large amount of sand.All work must comply with the City of Waterloo Codes& Ordinances or contractor shall return to the property and make the necessary correction without additional costs to the City. All bidders should know that the list of properties fluctuates as the city is continually acquiring and selling properties. Contractor or their designee must be reachable by phone Monday through Friday 8:00 a.m. to 5:00 p.m. during the term of the Contract. 3.3 SITE CLEAN-UP Prior to each snow removal the Contractor shall remove all trash and debris including paper,branches,rocks, and other portable objects. All trash and debris shall be legally disposed of,off site,at no additional expense to the City. Additionally,the contractor shall be responsible for cleaning up and repairing all damage created by snowplow&snow removal operations. This includes adding soil and seeding damaged areas as needed. 3.4 DAMAGE PROTECTION The Contractor shall avoid damage to existing sidewalks, streets,curbs,pavements, structures, signs,mailboxes, fences, benches,utilities, and other fixtures.Any damage caused by the Contractor shall be completely repaired at no additional cost to the City. At no time shall any snow removal equipment come in contact with any privately owned tree or shrub during snow removal.Any tree or shrub damaged by the Contractor shall be replaced at the direction of the Planning and Zoning Department with no additional cost to the City. The Contractor shall avoid damage to turf grass and underlying soil and grade. Any rutting and related turf loss and erosion damage shall be promptly remedied by the Contractor to the satisfaction of the Planning and Zoning Department with no additional cost to the City. The Contractor shall take all necessary precautions to protect pedestrians and motorists from personal injury and property damage. All equipment safety guards shall remain intact and serviceable. The Contractor shall carry liability insurance as detailed in the GENERAL CONDITIONS to cover any damage claims. 3.5 REQUIRED EQUIPMENT The Contractor shall provide a complete inventory of sufficient and proper equipment to perform all work in a safe and timely manner. Equipment listed on the Bid Form will be verified by the Planning and Zoning Department to determine whether it is adequate for this snow removal contract. A portfolio of existing or past contracts with letters of recommendations would be helpful in verifying the bidder's qualifications. Types of snow removal equipment required for this contract: Walk-behind snow blowers Riding snow blowers Pick-up truck and/or tractor with snow blade Salt&sand applicator Shovels SECTION IV—GENERAL TERMS AND CONDITIONS 1. LANGUAGE,WORDS USED INTERCHANGEABLY—The word 3. SPECIFICATION DEVIATIONS BY THE PROPOSER-Any CITY refers to the CITY OF WATERLOO, IOWA throughout these deviation from this specification MUST be noted in detail,and Instructions and Terms and Conditions.Similarly,PROPOSER submitted in writing in the Proposal.Completed specifications refers to the person or company submitting an offer to sell its should be attached for any substitutions offered,or when goods or services to the CITY,and CONTRACTOR refers to the amplifications are desirable or necessary.The absence of the successful bidder. specification deviation statement and accompanying specifications will hold the Proposer strictly accountable to the 2. PROPOSER QUALIFICATIONS-No Proposal shall be accepted specifications as written herein. Failure to submit this document of from,and no contract will be awarded to,any person,firm or specification deviation,if applicable,shall be grounds for rejection corporation that is in arrears to the City upon debt or contract,that of the item when offered for delivery. If specifications or is a defaulter,as surety or otherwise,upon any obligation to the descriptive papers are submitted with Proposals,the Proposer's City,or that is deemed irresponsible or unreliable by the City.If name should be clearly shown on each document. requested,Proposers shall be required to submit satisfactory evidence that they have a practical knowledge of the particular 4. COLLUSIVE PROPOSAL—The Proposer certifies that the supply/service proposal and that they have the necessary proposal submitted by said Proposer is done so without any financial resources to provide the proposed supply/service as previous understanding,agreement or connection with any described in this Request for Proposal. person,firm,or corporation making a proposal for the same Contract,without prior knowledge of competitive prices,and it is, Page 176 of 557 in all respects,fair,without outside control,collusion,fraud or 15. CANCELLATION-Either party may cancel the contract in the otherwise illegal action. event that a petition,either voluntary or involuntary, is filed to declare the other party bankrupt or insolvent or in the event that 5. SPECIFICATION CHANGES,ADDITIONS AND DELETIONS— such party makes an assignment for the benefit of creditors. All changes in Proposal documents shall be through written addendum. Verbal information obtained otherwise will NOT be 16. ASSIGNMENT-Proposer shall not assign the contract or any considered in awarding of Proposals. monies to become due thereunder without the prior written consent of the City.Any assignment or attempt at assignment 6. PROPOSAL CHANGES-Proposals,amendments thereto,or made without such consent of the City shall be void. withdrawal requests received after the time advertised for Proposal opening,will be void regardless of when they were 17. EQUAL OPPORTUNITY—The successful firm agrees not to mailed. refuse to hire,discharge,promote,demote,or to otherwise discriminate in matters of compensation against any person 7. HOLD HARMLESS AGREEMENT—Except as to any negligence otherwise qualified solely because of age,race,color,religion, of City, its officials,officers,employees or agents, in the sex,sexual orientation,gender identity,marital status, national performance of any duty under this Contract,and to the extent not origin,citizenship status,disability,or veteran status. covered by insurance maintained by Contractor,the Contractor agrees to protect,defend,indemnify and hold harmless the City of 18. TAXES-The City of Waterloo is exempt from sales tax and Waterloo, its officials,officers,employees and agents,from and certain other use taxes.Any charges for taxes from which the City against any and all claims and damages of every kind and nature is exempt will be deducted from invoices before payment is made. made, rendered or incurred by or in behalf of every person or company whatsoever,including the parties hereto and their 19. PROPOSAL INFORMATION IS PUBLIC—All documents employees,that may arise,occur,or grow out of any acts, submitted with any proposal and the proposal shall become public actions,work or other activity done by the Contractor,its documents and subject to Iowa Code Chapter 22,which is employees,subcontractors or any independent contractors otherwise known as the"Iowa Open Records Law". By submitting working under the direction of either the Contractor or any document to the City of Waterloo in connection with a subcontractor in the performance of the contract. proposal,the submitting party recognizes this and waives any claim against the City of Waterloo and any of its officials,officers 8. PROPOSAL REJECTION OR PARTIAL ACCEPTANCE—The and employees relating to the release of any document or City reserves the right to reject any or all Bids. The City further information submitted. reserves the right to waive technicalities and formalities in Bids, as well as to accept in whole or in part such Bid where it is Each submitting party shall hold the City of Waterloo and its deemed advisable in protection of the best interests of the City. officials,officers and employees harmless from any claims arising from the release of any document or information made available 9. PROPOSAL CURRENTY/LANGUAGE—All bid prices shall be to the City of Waterloo arising from any proposal opportunity. shown in US Dollars($). All prices must remain firm for the duration of the Contract regardless of the exchange rate. All bids (responses)must be submitted in English. 10. PAYMENTS-Payments will be made for all goods/services delivered, inspected and accepted within 30 days after acceptance and on receipt of an original invoice. 11. MODIFICATION,ADDENDA&INTERPRETATIONS-Any apparent inconsistencies,or any matter requiring explanation or interpretation,must be inquired into by the Proposer in writing at least 72 hours(excluding weekends and holidays)prior to the time set for the Proposal opening.Any and all such interpretations or modifications will be in the form of written addenda.All addenda shall become part of the contract documents and shall be acknowledged and dated on the signature page. 12. LAWS AND REGULATIONS-All applicable State of Iowa and federal laws,ordinances, licenses and regulations of a governmental body having jurisdiction shall apply to the award throughout as the case may be,and are incorporated herein by reference. 13. SUBCONTRACTING-No portion of this Proposal may be subcontracted without the prior written approval by the City. 14. ELECTRONIC SUBMITTAL-Telegraphic and/or proposal offers sent by electronic devices(e.g.facsimile machines)are not acceptable and will be rejected upon receipt. Proposers will be expected to allow adequate time for delivery of their proposal either by airfreight, postal service,or other means. Page 177 of 557 EXHIBIT "A" SIGNATURE PAGE 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract BID FORM BIDDER: COMPANY NAME Proj ect Manager: PROJECT MANAGER NAME ADDRESS: PHONE: () 1. The undersigned,being a Corporation existing under the laws of the State of , or a limited liability company existing under the laws of the State of ,or a Partnership consisting of the following partners: having been familiarized with the existing conditions on the project area affecting the cost of the work, and with all the Contract Documents now on file in the offices of the City Clerk, City Hall, 715 Mulberry Street, Waterloo, Iowa, and the Planning and Zoning Department, 715 Mulberry Street, Waterloo, Iowa hereby proposes to furnish all supervision, technical personnel, labor, materials, machinery, tools, equipment, and services, including utility and transportation services required to complete the proposed SNOW REMOVAL, in accordance with the contract documents and for the unit price in place for the following amount: Bid Price: Price per Lot/Area per occurrence for approximately 215 Properties dollars (S ) Written Price Per Lot/Occurrence: 2. It is understood that the quantities set forth are approximate only and subject to variation and that the unit price for the work done shall govern the actual payment to the Contractor. 3. In submitting this bid,the Bidder understands that the City reserves the right to reject any or all bids and to award one or more contracts for a single Option,all Options together, or any combination of Options. If written notice of acceptance of this Bid is mailed or delivered to the undersigned within thirty(30)days after Bid Opening, or at any time thereafter before this bid is withdrawn,the undersigned agrees to execute and deliver an agreement in the prescribed form and furnish the required certificate of insurance within ten(10)days after the agreement is presented for signature, and start work within ten(10) days after"Notice to Proceed"is issued. 4. Security in the sum of dollars($ ) in the form of ,is submitted herewith in accordance with NOTICE TO BIDDERS. 5. The Bidder is prepared to submit a financial and experience statement upon request. Page 178 of 557 6. The Prime Contractor and Subcontractor(s),which have performed an aggregate of$10,000.00 in work for the City in the current calendar year, are prepared to submit an Affirmative Action Plan or update and an Equal Opportunity Clause, within ten(10)days of notification that the bid submitted is lowest and acceptable. 7. The Bidder has received the following Addendum or Addenda: Addendum No. Date: 8. The Contractor shall provide a complete inventory of sufficient and proper equipment to perform all work in a safe and timely manner. Equipment list may be submitted as a separate attachment. 9. The Bidder has filled in all blanks on this proposal. Those blanks not applicable are marked"none"or"NA". 10. The bidder has attached all applicable forms. 11. The City reserves the right to select alternatives, delete line items, and/or to reduce quantities prior to the Award of Contract due to budgetary limitations. SIGNED: DATE: Name and Title Page 179 of 557 EQUAL OPPORTUNITY CLAUSE (As provided in Executive Order No. 11246) All contractors, subcontractors,vendors and suppliers of goods and services doing business with the City and value of said business equals or exceeds ten thousand dollars ($10,000.00) annually agree as follows: 1. The contractor, subcontractor,vendor and supplier of goods and services will not discriminate against any employee or applicant for employment because of race, color, creed, sex, national origin, economic status, age,mental or physical handicap,political opinions or affiliations. The contractor, subcontractor,vendor and supplier will develop an Affirmative Action program to ensure that applicants are employed and that employees are treated during employment without regard to their race,creed,color, sex,national origin,religion, economic status, age,mental or physical disability,political opinions or affiliations. Such actions shall include but not be limited to the following: a. Employment b. Upgrading c. Demotion or Transfer d. Recruitment and Advertising e. Layoff or Termination f. Rates of Pay or Other Forms of Compensation g. Selection for Training Including Apprenticeship. 2. The contractor, subcontractor,vendor and supplier of goods and services will, in all solicitations or advertisements for employees, state that all qualified applicants will receive consideration for employment without regard to race, creed, color, sex,national origin,religion,economic status, age,mental or physical disabilities,political opinion or affiliations. 3. The contractor, subcontractor,vendor and supplier or his/her collective bargaining representative will send to each labor union or representative of workers which he/she has a collective bargaining agreement or other contract or understanding, a notice advising said labor union or workers' representative of the contractor's commitment under this section. 4. The contractor, subcontractor,vendor and supplier of goods and services will comply with all published rules, regulations, directives, and order of the City of Waterloo Affirmative Action Program Contract Compliance Provisions. 5. The contractor, subcontractor vendor and supplier of goods and services will furnish and file compliance reports within such time and upon such forms as provided by the Affirmative Action Officer. Said forms will elicit information as to the policies,procedures,patterns, and practices of each subcontractor as well as the contractor himself/herself and said subcontractor,vendor and supplier will permit access to his/her employment books,records and accounts to the City's Affirmative Action Officer,for the purpose of investigation to ascertain compliance with this contract and with rules and regulations of the City's Affirmative Action Program—Contract Compliance Provisions relative to Resolution No. 24664 6. In the event of the contractor's non-compliance with the non-discrimination clauses of this contract or with any of such rules,regulations and orders,this contract may be canceled,terminated or suspended in whole or in part and the contractor may be declared ineligible for further contracts in accordance with procedures authorized by the City Council. 7. The contractor, subcontractor,vendor and supplier of goods and services will include, or incorporate by reference,the provisions of the non-discrimination clause in every contract, subcontract or purchase order unless exempted by the rules,regulations or orders of the City's Affirmative Action Program, and will provide in every subcontract, or purchase order that said provisions will be binding upon each contractor, subcontractor, or supplier. Page 180 of 557 8. We,the undersigned,recognize that we are morally and legally committed to non-discrimination in employment. Any person who applies for employment with our company will not be discriminated against because of race,creed, color, sex,national origin,economic status, age,mental or physical disabilities. Signed: Appropriate Official Title Date Page 181 of 557 EXHIBIT "B" 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract This Contract for Snow removal(the"Contract") is made and entered into on November 15,2021,by and between the City of Waterloo, Iowa(the"City"),and (the"Contractor"). The term of the Contract shall be from November 15,2021 through April 14,2022. 1. The Contractor shall furnish all supervision,technical personnel, labor,materials, supplies and equipment to perform all work required for the Contract work as described in the Specifications. 2. The Contract Documents shall consist of the following: a) This Contract b) Request for Bid c) Notice of Hearing and Notice to Bidders d) Signed Response(Bid)from Contractor These documents form the Contract Documents and are all fully incorporated as a part of this Contract as if attached to this Contract or set forth in full herein. In the event of any conflict or ambiguity among the Contract Documents,the document in the order set forth above that first addresses the issue or provision in question shall govern. 3. The Contractor agrees to commence the work within twenty-four(24)hours after the City issues a"Notice to Proceed"and to complete the work within the given time frame. Time is of the essence in the performance of duties under this Contract. The Contractor also agrees to the following: a) Contractors will abide by ordinance section 7-1-2(B)(1). Contractors will not be permitted to transfer snow onto or across any city street or alley. In the event snow is transferred into the street,it shall be removed by the Contractor. b) In the event the Planning and Zoning Department finds that the Contractor did not fulfill its obligation,the Contractor will be required to go back to the property at no additional cost to the City. c) During snow removal the sidewalks will be cleared the width of the sidewalk and to the concrete unless ice prevents such removal. In the event the ice is unable to be removed the Contractor will be required to lay down sand, salt,or a mixture of both. 4. The Contractor agrees to comply with and obey all ordinances of the City of Waterloo relating to the obstruction of streets and alleys,keeping open passageways for water and traffic, and maintaining proper and sufficient barricades with lights and signals during all hours of darkness. 5. Except as to any negligence of City, its officials,officers, employees or agents in the performance of any duty under this Contract, and to the extent not covered by insurance maintained by Contractor, Contractor agrees to defend and indemnify City, its officials, officers, employees and agents, and to hold same harmless, from and against any and all claims, demands, causes of action,losses,costs, or liabilities whatsoever, including but not limited to reasonable attorneys' fees and expenses, arising from or in connection with the acts or omissions of Contractor in performing the work contemplated by this Contract. This will include but is not limited to actions or suits based upon or alleging bodily injury, including death, or property damage rising out of or resulting from the Contractor's operation under this Contract,whether by itself or by any subcontractor or anyone directly or indirectly employed by any of them. Contractor is not and shall not be deemed an agent or employee of the City. Page 182 of 557 6. Contractor shall be responsible for all damage to public or private property. If public or private property is damaged by Contractor and is not repaired in a timely manner as determined by City, City has the option of having the damage repaired at the Contractor's expense,to be reimbursed to the City or withheld from future payments to Contractor hereunder. 7. The Contractor shall have no cause of action against the City on account of delays and prosecution of work,but the work is delayed by the City,the Contractor may have extra time for the completion of the job as was lost by reason of the delay caused by the City. 8. The City, at its sole discretion and without waiving any claims or rights,may allow for partial payment for the work included on an invoice for which all services have been delivered or accepted. The City may withhold payment for reasons including,but not limited to,the following: unsatisfactory job performance or progress, defective work, disputed work, failure to comply with material provisions of the Contract,third-party claims filed or reasonable evidence that a claim will be filed,or other reasonable cause. 9. In the event that Contractor defaults in the performance or observance of any covenant, agreement or obligation set forth in this Contract, and if such default remains uncured for a period of seven(7)days after notice thereof shall have been given by City to Contractor,then City may declare that Contractor is in default hereunder and may terminate this Contract by delivery to Contractor of written notice of termination, and/or take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor hereunder. Contractor shall be entitled to only one such notice, and in connection with any subsequent breach then City may terminate this Contract upon seven(7)days' advance written notice. In the event of termination,the Contractor shall be compensated for all necessary services performed through the termination date. No delay in enforcing the provisions hereof as to any breach or violation shall impair, damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suit or other enforcement action hereunder, Contractor agrees to pay the reasonable attorneys' fees and expenses incurred by City. 10. In addition to paragraph 9 above,this Contract may be terminated at any time, in whole or in part,upon the mutual written agreement of the parties. City may also choose to terminate this Contract at any time without cause by delivering to Contractor twenty-one(2 1) days' advance written notice of termination. 11. Contractor may not assign,delegate or subcontract any of its duties hereunder without the prior written consent of City. 12. Because time is of great importance when completing snow removal,the Contractor must notify the City of Waterloo at least two (2)weeks in advance including who will be filling in for them for any planned time off. 13. Any notice under this Contract shall be in writing and shall be delivered in person or by United States Post Office registered or certified mail,postage prepaid and addressed: City Contractor City of Waterloo,Iowa 715 Mulberry St. Waterloo, Iowa 50703 Attn: Planning Department Delivery of notice shall be deemed to occur(i)on the date of delivery when delivered in person, or(ii)three(3)business days following the date of deposit if mailed as stated above. Page 183 of 557 14. Nothing in this Contract shall,or shall be deemed or construed to, create or constitute any joint venture,partnership, agency, employment, or any other relationship between the parties nor, except as expressly set forth herein,to create any liability for one party with respect to the liabilities or obligations of the other party or any other person. Contractor is an independent Contractor. 15. This Contract shall be binding upon and inure to the benefit of the parties and the respective successors and assigns of each. 16. In the event any provision of this Contract is held invalid, illegal,or unenforceable,whether in whole or in part,the remaining provisions of this Contract shall not be affected thereby and shall continue in full force and effect. If, for any reason, a court finds that any provision of this Contract is invalid, illegal, or unenforceable as written,but that by limiting such provision it would become valid, legal, and enforceable,then such provision shall be deemed to be written and shall be construed and enforced as so limited. 17. This Contract,together with the Contract Documents,constitutes the entire agreement between the parties pertaining to the subject matter hereof. This Contract may not be modified or amended except by the mutual written agreement of the parties. 18. In consideration of the full compliance on the part of the Contractor with all the provisions, stipulations and conditions hereof, or contained in the various instruments made a part of this Contract by reference, and upon completion and acceptance of the work,the City agrees to pay the Contractor as set forth on Exhibit"A"attached hereto. 19. CONTRACTOR OR THEIR DESIGNEE MUST BE REACHABLE BY PHONE MONDAY THROUGH FRIDAY 8:00 A.M. TO 5:00 P.M. during the term of this Contract. IN WITNESS WHEREOF,the parties have executed this Contract for Snow Removal by their duly authorized representatives as of the date first set forth above. CITY OF WATERLOO,IOWA CONTRACTOR By: Quentin Hart-Mayor Authorized Representative Attest: Kelly Felchle -City Clerk Page 184 of 557 STATEMENT OF BIDDER'S QUALIFICATIONS (To be submitted by the Bidder only upon request of the City of Waterloo, Iowa.) All questions shall be answered and the data given must be clear and comprehensive. This statement must be notarized. If necessary, questions may be answered on separate attached sheets. The Bidder may submit any additional information desired. 1. Name of Bidder. 2. Permanent main office address. 3. When organized. 4. If a corporation,where incorporated. 5. How many years have you been engaged in the contracting business under your present firm or trade name? 6. Contracts on hand: (Schedule these showing amount of each contract and the appropriate anticipated dates of completion.) 7. General character of work performed by your company. 8. Have you ever failed to complete any work awarded to you? If so,where and why? 9. Have you ever defaulted on a contract? If so,where and why? 10. List the more important projects recently completed by your company, stating the approximate cost for each, and the month and year completed. 11. List your major equipment available for the contract. 12. Experience in landscape work similar in importance to the project. 13. Background and experience of the principal members of your organization, including the officers. 14. Credit available: $ 15. Give Bank reference: 16. Will you,upon request, fill out a detailed financial statement and furnish any other information that may be required by the City of Waterloo,Iowa? 17. The undersigned hereby authorizes and requests any person,firm,or corporation to furnish any information requested by the City of Waterloo, Iowa, in verification of the recitals comprising this Statement of Bidder's Qualifications. Dated this day of 520 . Name of Bidder By: Title: Page 185 of 557 State of ) ss County of ) being duly sworn deposes and says that she/he is of Name of Organization and that the answers to the foregoing questions and all statements therein contained are true and correct. Subscribed and sworn to before me this_day of ,20 Notary Public My commission expires 120 . Page 186 of 557 NOTICE OF PUBLIC HEARING AND NOTICE TO BIDDERS On Proposed Plans, Specifications, Form of Contract, for 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract General Description The City of Waterloo has approximately 215 residential/miscellaneous properties with public sidewalk that requires periodic snow removal. Annually,the city sends out Requests for Bid for snow removal of the sidewalk of city owned residential lots and miscellaneous areas. The bidder shall bid per unit price(per lot/per occurrence price) for all city owned properties.All bidders should know that the list of properties fluctuates as the city is continually acquiring and selling properties. SCOPE OF WORK The Contractor shall provide all labor, equipment and material necessary for snow removal and application of sand/ice melt for approximately 215 residential lots and miscellaneous areas in accordance with the bid specifications.Assigned areas shall have snow removed each time there is a snow event of at least 1 inch,which shall be completed within 48 hours from the end of the snow event. The bid specs require that the full width of the sidewalk be cleared along the full width of each property(lot)down to the pavement. A good-faith attempt will need to be made to clear down to the pavement. In the event that it is impossible,because of ice or other hazard,then sand or other abrasive material, (such as Ice Melt, sand or another approved product)may be used so pedestrian traffic is safe. RECEIVING OF BIDS Sealed bids will be received by the City Clerk of the City of Waterloo, Iowa, at her office in City Hall, 715 Mulberry Street, Waterloo, Iowa, no later than 1:00 p.m., Thursday, November 4, 2021, for the 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract, as described in the plans and specifications now on file in the City Clerk's office. OPENING OF BIDS All proposals received will be opened in the Harold E. Getty Council Chambers in the City of Waterloo City Hall, 715 Mulberry Street,Waterloo,Iowa, on Thursday,November 4,2021,at 1:00 p.m. After the opening of bids the proposals will be referred to the Planning and Zoning Department for recommendation of award, and will be acted upon at such later time and place as may then be fixed by the City Council. The bid opening will be livestreamed on YouTube and made available on the city website. PUBLIC HEARING Notice is hereby given that the Waterloo City Council will conduct a public hearing on the proposed plans, specifications and form of contract for the 2021-2022 Residential/Miscellaneous Areas Snow Removal Contract at the City Council Meeting,Monday November 15,2021 at 5:30 p.m.The hearing will be held in the City Council Chambers on the second floor of Waterloo City Hall. The contract documents are on file on the first floor in the City Clerk's office, City Hall, 715 Mulberry Street,Waterloo,Iowa for public examination. Any person interested may file written objection with the City Clerk before the date set for the hearing or appear and make objection at the meeting. BID SECURITY REQUIRED All bids must be accompanied, in a separate envelope,by a certified or cashier's check drawn on an Iowa bank chartered under the laws of the United States or the State of Iowa, a certified share draft drawn on a Credit Union in Iowa chartered under the laws of the United States or the State of Iowa, or a bid bond payable to the City of Waterloo, Iowa, in the sum of Fifteen Hundred Dollars ($1,500.00), which certified check, certified share draft, or bid bond will be held as security that the Bidder will enter into a Contract for the snow removal work and will furnish the required certificate(s) of insurance, and in case the successful bidder shall fail or refuse to enter into the Contract, the bid security may be retained by said City as agreed liquidated damages. If a bid bond is used, it must be signed by both the bidder and the surety or the surety's agent. Signature of surety's agent must be supported by accompanying Power of Attorney. CONTRACT AWARD The City shall award one contract to the lowest responsible Bidder whose bid conforms to the Specifications listed in this RFP and is most advantageous to the City, and the Planning and Zoning Department price and other factors considered. Page 187 of 557 The City reserves the right to award a contract for any single Option, any combination of Options, or all Options together. The intention is not to award the contract at the time of bid opening, but to award the contract after review of bids and bidder information by the City and the Planning and Zoning Department such that the award is made within thirty (30) days after bid opening. The City reserves the right to waive any and all parts of a specific bid. AFFIRMATIVE ACTION PROGRAM The successful Bidder and any subcontractors will be required to execute and have approved an Affirmative Action Program or Update before beginning work on the project, if they have been awarded an aggregate of $10,000 in city projects during the current calendar year. Published pursuant to the provisions of Chapter 26 of the City Code of Iowa and upon order of the City Council of said City of Waterloo, Iowa, on the day of , 2021. Kelley Felchle, City Clerk City of Waterloo,Iowa, Page 188 of 557 2021-2022 Residential/Miscellaneous Areas Snow Remov=al Contract This Contract for Snow removal (the"Contract") is made and entered into on November 15,2021,by and between the City of Waterloo, Iowa(the"City"), and B& B Lawn Care Inc. (the"Contractor"). The term of the Contract shall be from November 15, 2021 through April 14, 2022. 1. The Contractor shall furnish all supervision,technical personnel, labor,materials, supplies and equipment to perform all work required for the Contract work as described in the Specifications for$25.48 per property per occurrence. The Contractor has been provided the current list of properties requiring snow removal under this contract,however the list of properties may fluctuate as the City acquires or sells properties. 2. The Contract Documents shall consist of the following; a) This Contract b) Request for Bid c) Notice of Hearing and Notice to Bidders d) Signed Response(Bid)from Contractor These documents form the Contract Documents and are all fully incorporated as a part of this Contract as if attached to this Contract or set forth in full herein. In the event of any conflict or ambiguity among the Contract Documents,the document in the order set forth above that first addresses the issue or provision in question shall govern. 3. The Contractor agrees to commence the work within twenty-four(24) hours after the City issues a"Notice to Proceed"and to complete the work within the given time frame. Time is of the essence in the performance of duties under this Contract.The Contractor also agrees to the following. a) Contractors will abide by ordinance section 7-1-2(B)(1). Contractors will not be permitted to transfer snow onto or across any city street or alley. In the event snow is transferred into the street,it shall be removed by the Contractor. b) In the event the Planning and Zoning Department finds that the Contractor did not fulfill its obligation,the Contractor will be required to go back to the property at no additional cost to the City. c) During snow removal the sidewalks will be cleared the width of the sidewalk and to the concrete unless ice prevents such removal. In the event the ice is unable to be removed the Contractor will be required to lay down sand, salt, or a mixture of both, 4. The Contractor agrees to comply with and obey all ordinances of the City of Waterloo relating to the obstruction of streets and alleys,keeping open passageways for water and traffic, and maintaining proper and sufficient barricades with lights and signals during all hours of darkness. 5. Except as to any negligence of City, its officials, officers,employees or agents in the performance of any duty under this Contract,and to the extent not covered by insurance maintained by Contractor, Contractor agrees to defend and indemnify City, its officials,officers,employees and agents, and to hold same harmless, from and against any and all claims, demands, causes of action, losses, costs,or liabilities whatsoever, including but not limited to reasonable attorneys' fees and expenses,arising from or in connection with the acts or omissions of Contractor in performing the work contemplated by this Contract. This will include but is not limited to actions or suits based upon or alleging bodily injury,including death,or property damage rising out of or resulting from the Contractor's operation under this Contract,whether by itself or by any subcontractor or anyone directly or indirectly employed by any of them. Contractor is not and shall not be deemed an agent or employee of the City. Page 189 of 557 b. Contractor shall be responsible for all damage to public or private property. If public or private property is damaged by Contractor and is not repaired in a timely manner as determined by City, City has the option of having the damage repaired at the Contractor's expense,to be reimbursed to the City or withheld from future payments to Contractor hereunder. 7. The Contractor shall have no cause of action against the City on account of delays and prosecution of work,but the work is delayed by the City,the Contractor may have extra time for the completion of the job as was lost by reason of the delay caused by the City, 8. The City,at its sole discretion and without waiving any claims or rights,may allow for partial payment for the work included on an invoice for which all services have been delivered or accepted. The City may withhold payment for reasons including, but not limited to,the following: unsatisfactory job performance or progress,defective work, disputed work, failure to comply with material provisions of the Contract,third-party claims filed or reasonable evidence that a claim will be filed, or other reasonable cause. 9. In the event that Contractor defaults in the performance or observance of any covenant, agreement or obligation set forth in this Contract,and if such default remains uncured for a period of seven(7) days after notice thereof shall have been given by City to Contractor,then City may declare that Contractor is in default hereunder and may terminate this Contract by delivery to Contractor of written notice of termination,and/or take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor hereunder. Contractor shall be entitled to only one such notice, and in connection with any subsequent breach then City may terminate this Contract upon seven (7)days' advance written notice. In the event of termination,the Contractor shall be compensated for all necessary services performed through the termination date. No delay in enforcing the provisions hereof as to any breach or violation shall impair,damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suit or other enforcement action hereunder,Contractor agrees to pay the reasonable attorneys' fees and expenses incurred by City. 10. In addition to paragraph 9 above,this Contract may be terminated at any time, in whole or in part,upon the mutual written agreement of the parties. City may also choose to terminate this Contract at any time without cause by delivering to Contractor twenty-one(2 1)days' advance written notice of termination. 11. Contractor may not assign,delegate or subcontract any of its duties hereunder without the prior written consent of City. 12. Because time is of great importance when completing snow removal,the Contractor must notify the City of Waterloo at least two (2)weeks in advance including who will be filling in for them for any planned time off. 13. Any notice under this Contract shall be in writing and shall be delivered in person or by United States Post Office registered or certified mail,postage prepaid and addressed: City Contractor City of Waterloo, Iowa 715 Mulberry St. Waterloo,Iowa 50703 Attn: Planning Department Delivery of notice shall be deemed to occur(i)on the date of delivery when delivered in person, or(ii) three(3)business days following the date of deposit if mailed as stated above. Page 190 of 557 14. Nothing in this Contract shall,or shall be deemed or construed to,create or constitute any joint venture,partnership, agency,employment, or any other relationship between the parties nor,except as expressly set forth herein, to create any liability for one party with respect to the liabilities or obligations of the other parry or any other person. Contractor is an independent Contractor. 15. This Contract shall be binding upon and inure to the benefit of the parties and the respective successors and assigns of each. 16. In the event any provision of this Contract is held invalid, illegal, or unenforceable,whether in whole or in part,the remaining provisions of this Contract shall not be affected thereby and shall continue in full force and effect. If, for any reason,a court finds that any provision of this Contract is invalid, illegal,or unenforceable as written,but that by limiting such provision it would become valid, legal,and enforceable,then such provision shall be deemed to be written and shall be construed and enforced as so limited. 17. This Contract,together with the Contract Documents,constitutes the entire agreement between the parties pertaining to the subject matter hereof. This Contract may not be modified or amended except by the mutual written agreement of the parties. 18. In consideration of the full compliance on the part of the Contractor with all the provisions, stipulations and conditions hereof, or contained in the various instruments made a part of this Contract by reference,and upon completion and acceptance of the work, the City agrees to pay the Contractor as set forth on Exhibit"A"attached hereto. 19. CONTRACTOR OR THEIR DESIGNEE MUST BE REACHABLE BY PHONE MONDAY THROUGH FRIDAY 8:00 A.M. TO 5:00 P.M.during the term of this Contract. IN W ITN ESS WHEREOF, the parties have executed this Contract for Snow Removal by their duly authorized representatives as of the date first set forth above. CITY OF WATERLOO, IOWA B &B Lawn Car Inc. By: Quentin Hart-Mayor Authorized Representative Attest: Kelly Felchle -City Clerk Page 191 of 557 CITY OF WATERLOO Council Communication Asbestos Abatement Services Contract AB-2021-11-01P, for a portion of the property located at 100 E 9th Street. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type U RFB Asbestos Abatement Services Contract AB-2021- Backup Material 11-01P ❑ Exhibit B-1 100 E 9th Survey Report Backup Material ❑ Exhibit B-2 100 E 9th Additional Survey work Backup Material ❑ Exhibit C draft contract Backup Material ❑ 100 E 9th St Aerial Backup Material ❑ 100 E 9th St Pics Backup Material ❑ Contract- Signed Backup Material Motion to receive and file proof of publication of notice of public hearing HOLD HEARING -No comments on file. Motion to close hearing and receive and file oral and written comments. Resolution confirming approval of plans, specifications, form of contract, etc., and authorizing to proceed. SUBJECT: motion to receive, file and instruct the City Clerk to read bids. Resolution awarding bid to Advanced Environmental, Inc., of Waterloo, Iowa in the amount of$14,500, in conjunction with Asbestos Abatement Services Contract AB-2021-11-01P, for a portion of the property located at 100 E 9th Street, and authorizing the Mayor and City Clerk to execute said document. Submitted by: Submitted By:Noel Anderson, Community Planning and Development Director Recommended Action: Approval The above mentioned property was acquired for economic redevelopment purposes, and is being abated of asbestos in preparation of demolition. Other portions of this property were previously abated, but this portion was Summary Statement: not because it has a partially collapsed roof and it was not thought that it would be able to be abated, but indication has been provided that the area will be able to be safely abated, so we are looking to proceed with the abatement bid. Data/Analysis and Strategies: Nuisance Abatement and Economic Development, policy 1, 3 and 4. Expenditure Required/Source of Unknown/Nuisance Abatement bonds. Estimate is $17,000. Funds: Page 192 of 557 CITY OF WATERLOO , IOWA Request for Bid ASBESTOS ABATEMENT SERVICES October 2021 RFB Asbestos Abatement Services Contract AB-2021-11-01 P Portion of 100 E 9' Street City of Waterloo, Iowa Prepared by the City of Waterloo Planning and Zoning Department Page 193 of 557 SECTION I NOTICE OF REQUEST FOR PROPOSALS 1.0 Receipt and Opening of Bid The City of Waterloo is seeking sealed bids for asbestos abatement services Contract AB- 2021-11-01 P — Portion of 100 E 9' Street. All bids must be received in a sealed envelope in the City Clerk's Office, Waterloo City Hall, 715 Mulberry Street, Waterloo, IA 50703 (date and time stamped) by Thursday November 4, 2021 at 1:00 p.m. (our clock), Central Time, in order to be considered. City Hall is located at 715 Mulberry Street, Waterloo, Iowa. Bids sent electronically or via facsimile will not be accepted. The mailing container should be marked as noted below, and include the name of the company submitting the bid. 1.1 RFB Timeline Name of the Bid: Asbestos Abatement Services Contract AB-2021-11-01 P Notice of RFB Date: October 18, 2021 Mandatory Walk Thru Date: There will not be a mandatory walk thru Deadline for Bid Submittal: Thursday November 4, 2021 at 1:00 p.m., Central Time Submit Sealed Bid to: Address exactly as stated: SEALED RFB FOR ASBESTOS ABATEMENT SERVICES CONTRACT AB-2021-11-01 P City of Waterloo City Clerk's Office 715 Mulberry Street Waterloo, IA 50703 Method of Submittal: Mail or Overnight Delivery, In Person (No Electronic or Fax Submittals) Contact Person, Title: Aric Schroeder, City Planner/Project Manager (City's Representative) E-mail Address: aric.schroeder(aD_waterloo-ia.org Phone: Phone: 319-291-4366 1.2 The City reserves the right to accept or reject any or all proposals and to waive any informalities or irregularities in proposals if such waiver does not substantially change the offer or provide a competitive advantage to any Bidder. The City reserves the right to defer acceptance of any bid for a period not to exceed sixty (60) calendar days from the date of the deadline for receiving bids. 1.3 The City is not responsible for delays occasioned by the U.S. Postal Service, the internal mail delivery system of the City, or any other means of delivery employed by the Proposer. Similarly, the City is not responsible for, and will not open, any proposal responses that are received later than the date and time stated above. Late proposals will be retained in the RFB file, unopened. No responsibility will be attached to any person for premature opening of a proposal not properly identified. RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-11-01 P:Portion of 100 E 9"Street Page 194 of 557 Page 2 of 8 1.4 Bids will be opened on Thursday November 4, 2021, at 1:00 pm (our clock) Central Time in the second floor Council Chambers and will be streamed live on the City of Waterloo's YouTube Cannel. The main purpose of this opening is to reveal the name(s) of the Bidder(s), not to serve as a forum for determining the award. The awarding of the contract is anticipated to be at the City Council meeting on Monday November 15, 2021 at 5:30 p.m.. Proposals will be evaluated promptly after opening. After an award is made, a proposal summary will be sent to all companies who submitted a proposal. Proposal results will not be given over the telephone. Proposals may be withdrawn anytime prior to the scheduled closing time for receipt of proposals; no proposal may be modified or withdrawn for a period of sixty (60) calendar days thereafter. SECTION II INSTRUCTIONS TO PROPOSERS 2.0 The Bid shall include the attached Exhibit "A" signature page, properly completed. A company representative who is authorized to bind the company will sign on behalf of the company to indicate to the City that you have read all provisions of the RFB and agree to all terms and conditions, except as provided in paragraph 2.4 below. The City of Waterloo reserves the right to reject any or all bids, and to accept in whole or in part, the bid, which, in the judgment of the proposal evaluators, is the most responsive and responsible bid. 2.1 General Liability Insurance with limits of liability of at least $1,000,000 per occurrence for Bodily Injury and Property Damage. At a minimum, coverage for Premises, Operations, Products and Completed Operations shall be included. This coverage shall protect the public or any person from injury or property damages sustained by reason of the contractor or its employees carrying out their work. The Contractor shall provide certificate of insurance having the City of Waterloo as additional insured. 2.2 A bid guarantee from each Bidder equivalent to five percent (5%) of the bid price is required. The bid guarantee shall consist of a firm commitment, such as a bid bond, certified check, or other negotiable instrument acceptable to the City, as assurance that the Bidder will, upon acceptance of its bid, execute such contractual documents as may be required within the time specified. 2.3 This Request for Bid does not commit the City to make an award, nor will the City pay any costs incurred in the preparation and submission of bids, or costs incurred in making necessary studies for the preparation of bids. 2.4 Important Exceptions to Contract Documents - The Bidder shall clearly state in the submitted bid any exceptions to, or deviations from, the minimum bid requirements, and any exceptions to the terms and conditions of this RFB. Such exceptions or deviations will be considered in evaluating the bids. Any exceptions should be noted on the Signature Page. Companies are cautioned that exceptions taken to this RFB may cause their bid to be rejected. No additional exceptions shall be allowed after submittal of a bid. 2.5 Incomplete Information - Failure to complete or provide any of the information requested in this RFB, and/or additional information as indicated, may result in disqualification by reason of "non responsiveness". RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-11-01P:Portion of 100 E 9"Street Page 195 of 557 Page 3 of 8 SECTION III SPECIAL TERMS AND CONDITIONS 3.0 Term of Contract 3.0.1 The initial term of the Contract shall be for approximately seven (7)weeks beginning November 15, 2021, to December 31, 2021. 3.0.2 The City and the Contractor may renew the original Contract for one (1)week time periods by mutual agreement. Two (2) week's notice must be given to renew the Contract for additional increments. 3.0.3 A Contract, approved by the City Council and signed by the Mayor, shall become the document that authorizes the Contract to begin, assuming the insurance and bond requirements have been met. Each section contained herein, any addenda and the response (Bid) from the successful bidder, and all exhibits to the RFB shall also be incorporated by reference into the resulting Contract. 3.0.4 No price escalation will be allowed during the initial term of the Contract. If it is mutually decided to renew beyond the initial period and the Contractor requests a price increase, the Contractor shall provide documentation on the requested increase. The City reserves the right to accept or reject price increases, to negotiate more favorable terms, or to terminate (or allow to expire) without cost, the future performance of the Contract. 3.0.5 The total actual expenses shall not exceed the amount allowed by the project Contract, including any renewal extensions thereof, unless amended by written agreement. 3.1 Agreement Forms 3.1.1 After award, the Bidder will be required to enter into a written contract with the City that is substantially in the form attached hereto as Exhibit "C". 3.1.2. Termination for Cause. In the event that Contractor defaults in the performance or observance of any covenant, agreement or obligation set forth in the Contract, and if such default remains uncured for a period of seven (7) days after notice thereof shall have been given by City to Contractor(or for a period of fourteen (14) days after such notice if such default is curable but requires acts to be done or conditions to be remedied which, by their nature, cannot be done or remedied within such 14-day period and thereafter Contractor fails to diligently and continuously prosecute the same to completion within such 14-day period), then City may declare that Contractor is in default under the Contract. 3.1.3 Termination for Convenience. The Contract may be terminated at any time, in whole or in part, upon the mutual written agreement of the parties. City may also choose to terminate the Contract at any time by delivering to Contractor 10-days' advance written notice of intent to terminate. 3.1.4 Remedies. If Contractor is in default of the Contract and has not cured said default as set forth in Section 3.1.2 above, the City may take any one or more of the following steps, at its option: 3.1.4.1 by mandamus or other suit, action or proceeding at law or in equity, require Contractor to perform its obligations and covenants under the Contract, or enjoin any acts or things which may be unlawful or in violation of the rights of the City under the Contract, or obtain damages caused to the City by any such default; 3.1.4.2 have access to and inspect, examine and make copies of all books and records of Contractor which pertain to the project; 3.1.4.3 declare a default of the Contract, make no further disbursements, and demand immediate repayment from Contractor of any funds previously disbursed under the Contract; RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-11-01P:Portion of 100 E 9"Street Page 196 of 557 Page 4 of 8 3.1.4.4 terminate the Contract by delivering to Contractor a written notice of termination; and/or 3.1.4.5 take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor under the Contract, including but not limited to the recovery of funds. 3.1.4.6 No delay in enforcing the provisions hereof as to any breach or violation shall impair, damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suit or other enforcement action under the Contract, Contractor agrees to pay the reasonable attorneys'fees and expenses incurred by City. 3.2 Terms of Payment 3.2.1 Invoices for services authorized under this Contract shall be submitted as "lump sum" after services are delivered and accepted, although the city may, at the city's sole option, provide partial payment for partial work completed. 3.2.2 For accounting purposes, all invoices shall contain a sufficient level of detail regarding all services provided and allowable expenses incurred, and submitted to the City with supporting documentation by e-mail or US mail to: Attn: City of Waterloo Planning and Zoning Department, 715 Mulberry Street, Waterloo, IA 50703. 3.2.3 City has the right, at its discretion, to deny payment for any work by any Contractor if the total actual expenses exceed the amount allowed by the project Contract, including any renewal extensions thereof. The Contractor is not obligated to continue performance of services under this Agreement or otherwise incur costs in excess of the total actual expense allowed unless an amendment to the Contract is approved, and the City notifies the Contractor, in a written amendment, of the City's acceptance of the revised total actual expense allowed. 3.2.4 All work is to be done in strict compliance with this RFB. The City may withhold payment for reasons including, but not limited to, the following: unsatisfactory job performance or progress, defective work, disputed work, failure to comply with material provisions of the Contract, third party claims filed or reasonable evidence that a claim will be filed or other reasonable cause. SECTION IV SERVICE REQUIREMENTS 4.0 Background The City of Waterloo, Iowa, is seeking proposals for asbestos abatement services for a portion of 100 E 9" Street (the approximately 50' x 50', 2,500 SF 1 story building addition located on the northwest side of the building. This building has a mostly collapsed roof that will affect asbestos removal. 4.1 Scope of Work The City of Waterloo is seeking a qualified asbestos abatement contractor to remove asbestos containing material (ACM). Bidder shall be responsible to familiarize itself with the specifications included in this RFB and to make a personal examination of the job site(s) and the physical conditions that may affect its bidding and performance under the Contract. The services to be performed under this Contract shall consist of the following: RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-11-01P:Portion of 100 E 9"Street Page 197 of 557 Page 5 of 8 4.1.1 All services must be performed in accordance with all applicable codes and ordinances of the City of Waterloo, Iowa, accepted professional standards and best practices, as well as all applicable Federal and State regulations, including but not limited to asbestos Statutes and Rules (published by the Iowa Division of Labor), 40 CFR Part 61, National Emissions Standards for Hazardous Air Pollutants (NESHAP), as well as applicable State regulations of the Iowa Department of Natural Resources. The Contractor shall hold and maintain an asbestos permit issued by the Iowa Division of Labor, and all personnel who perform work on the Project shall hold and maintain an Iowa asbestos license issued by the Iowa Division of Labor. 4.1.2 Remove ACM as identified in the asbestos surveys included as Exhibit "B". 4.1.3 Document amounts of ACM removed from each structure. 4.1.4 Document ACM disposal at the Black Hawk County landfill through the use of landfill tickets and provide copies to the project manager. 4.1.5 At the request of the City given with reasonable advance notice, attend meetings of the City relative to the work set forth in this Agreement. 4.1.6 Provide other services as requested by the City as may be necessary to implement the asbestos abatement project. 4.2 Silence of Specifications— Commercially accepted practices shall apply to any detail not covered in this specification and to any omission of this specification. Any omission or question of interpretation of the specification that affects the performance or integrity of the service being offered shall be addressed in writing and submitted with the Proposal. 4.3 Reserved. 4.4 The Contractor shall complete the Project in an expeditious manner and shall commence work within ten (10) days after being notified by the City with a Notice to Proceed on any given property or properties. All work shall be completed and necessary reports and documentation provided within the Contract Term (anticipated to be December 31). If Contractor is prevented from timely completing the work because of circumstances beyond the Contractor's reasonable control as determined by the City, the time for completion of the work will be tolled for a period of time equivalent to the stoppage resulting from such circumstances. The Contractor does hereby expressly acknowledge and agree that time is of the essence of this Contract, and, thus, failure by the Contractor to timely render and perform services hereunder shall constitute a material breach of the Contract. SECTION V GENERAL TERMS AND CONDITIONS 1. LANGUAGE,WORDS USED INTERCHANGEABLY- upon debt or Contract, that is a defaulter, as surety or The word CITY refers to the CITY OF WATERLOO, otherwise, upon any obligation to the City, or that is IOWA throughout these Instructions and Terms and deemed irresponsible or unreliable by the City. If Conditions. Similarly, PROPOSER refers to the person requested, Proposers shall be required to submit or company submitting an offer to sell its goods or satisfactory evidence that they have a practical services to the CITY, and CONTRACTOR refers to the knowledge of the particular supply/service proposal and successful bidder. that they have the necessary financial resources to provide the proposed supply/service as described in this 2. PROPOSER QUALIFICATIONS - No Proposal shall be Request for Proposal. accepted from, and no Contract will be awarded to, any person, firm or corporation that is in arrears to the City RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-11-01P:Portion of 100 E 9"Street Page 198 of 557 Page 6 of 8 3. SPECIFICATION DEVIATIONS BY THE PROPOSER/ 11. MODIFICATION, ADDENDA & INTERPRETATIONS - OFFEROR-Any deviation from this specification MUST Any apparent inconsistencies, or any matter requiring be noted in detail, and submitted in writing in the explanation or interpretation, must be inquired into by Proposal. Completed specifications should be attached the Proposer in writing at least 72 hours (excluding for any substitutions offered, or when amplifications are weekends and holidays) prior to the time set for the desirable or necessary.The absence of the specification Proposal opening. Any and all such interpretations or deviation statement and accompanying specifications modifications will be in the form of written addenda. All will hold the Proposer strictly accountable to the addenda shall become part of the Contract documents specifications as written herein. Failure to submit this and shall be acknowledged and dated on the signature document of specification deviation, if applicable, shall page. be grounds for rejection of the item when offered for delivery. If specifications or descriptive papers are 12. LAWS AND REGULATIONS - All applicable State of submitted with Proposals, the Proposer's name should Iowa and federal laws, ordinances, licenses and be clearly shown on each document. regulations of a governmental body having jurisdiction shall apply to the award throughout as the case may be, 4. COLLUSIVE PROPOSAL - The Proposer certifies that and are incorporated here by reference. the proposal submitted by said Proposer is done so without any previous understanding, agreement or 13. SUBCONTRACTING - No portion of this Proposal may connection with any person, firm, or corporation making be subcontracted without the prior written approval by a proposal for the same Contract, without prior the City. knowledge of competitive prices, and it is, in all respects, fair, without outside control, collusion, fraud or 14. ELECTRONIC SUBMITTAL - Telegraphic and/or otherwise illegal action. proposal offers sent by electronic devices (e.g.facsimile machines) are not acceptable and will be rejected upon 5. SPECIFICATION CHANGES, ADDITIONS AND receipt. Proposing firms will be expected to allow DELETIONS-All changes in Proposal documents shall adequate time for delivery of their proposal either by be through written addendum. Verbal information airfreight, postal service,or other means. obtained otherwise will NOT be considered in awarding of Proposals. 15. CANCELLATION-Either party may cancel the award in the event that a petition, either voluntary or involuntary, 6. PROPOSAL CHANGES - Proposals, amendments is filed to declare the other party bankrupt or insolvent or thereto, or withdrawal requests received after the time in the event that such party makes an assignment for advertised for Proposal opening, will be void regardless the benefit of creditors. of when they were mailed. 16. ASSIGNMENT- Proposer shall not assign this order or 7. HOLD HARMLESS AGREEMENT - The Contractor any monies to become due hereunder without the prior agrees to protect, defend, indemnify and hold harmless written consent of the City. Any assignment or attempt the City of Waterloo, its officers and employees, their at assignment made without such consent of the City agencies and agents, from any and all claims and shall be void. damages of every kind and nature made, rendered or incurred by or in behalf of every person or corporation 17. EQUAL OPPORTUNITY - The successful firm agrees whatsoever, including the parties hereto and their not to refuse to hire, discharge, promote, demote, or to employees that may arise, occur, or grow out of any otherwise discriminate in matters of compensation acts, actions, work or other activity done by the against any person otherwise qualified solely because Contractor, its employees, subcontractors or any of age, race, color, religion, sex, sexual orientation, independent contractors working under the direction of gender identity, marital status, national origin, either the Contractor or subcontractor in the citizenship status, disability, or veteran status. performance of this Contract. 18. TAXES-The City of Waterloo is exempt from sales tax 8. PROPOSAL REJECTION OR PARTIAL ACCEP- and certain other use taxes.Any charges for taxes from TANCE - The City reserves the right to reject any or all which the City is exempt will be deducted from invoices Proposals. The City further reserves the right to waive before payment is made. technicalities and formalities in Proposals, as well as to 19 PROPOSAL INFORMATION IS PUBLIC — All accept in whole or in part such Proposals where it is documents submitted with any proposal and the deemed advisable in protection of the best interests of proposal shall become public documents and subject to the City. Iowa Code Chapter 22,which is otherwise known as the 9. PROPOSAL CURRENCY/LANGUAGE - All proposal "Iowa Open Records Law". By submitting any document prices shall be shown in US Dollars ($). All prices must to the City of Waterloo in connection with a proposal, remain firm for the duration of the Contract regardless of the submitting party recognized this and waives any the exchange rate. All proposal responses must be claim against the City of Waterloo and any of its officers submitted in English. and employees relating to the release of any document or information submitted. 10. PAYMENTS - Payments will be made for all goods/services delivered, inspected and accepted within Each submitting party shall hold the City of Waterloo 45 days and on receipt of an original invoice and all and its officers and employees harmless from any necessary supporting documentation. claims arising from the release of any document or information made available to the City of Waterloo arising from any proposal opportunity. RFB FOR ASBESTOS ABATEMENT SERVICES:Contract:AB-2021-11-01P:Portion of 100E9"Street Page 199 of 557 Page 7 of 8 EXHIBIT"A" SIGNATURE PAGE The undersigned Proposer/Bidder, having examined these documents and having full knowledge of the condition under which the work described herein must be performed, hereby proposes that they will fulfill the obligations contained herein in accordance with all instructions, terms, conditions, and specifications set forth; and that they will furnish all required services and pay all incidental costs in strict conformity with these documents for the stated process as payment in full. Portion of 100 E 9th Street. Total 'lump sum" bid: $ Submitting Firm: Address: City: State: Zip: Authorized Representative (print) Authorized Representative Signature Date: Email: Phone: Fax: EXCEPTIONS/DEVIATIONS to this Request for Proposal shall be listed in writing on an attached document provided by the Bidder. Please be as specific as possible. Please check one: Our company has no exceptions/deviations. Our company does have exceptions/deviations which are listed on an attached document. GENERAL INFORMATION. Freight and/or delivery charges, if any, shall be included in the price. FIRM PRICING. Offered prices shall remain firm for a minimum of sixty (60) days after the due date of this solicitation unless indicated otherwise. Accepted prices shall remain firm for the duration of the contract. ADDENDA (It is the Bidder's responsibility to check for issuance of any addenda). The authorized representative herby acknowledges receipt of the following addenda: Addenda Number Date Addenda Number Date ❑ We choose not to bid at this time but would like to be considered for future requests for bid Page 200 of 557 AWK Y ENVIRONMENTAL ASBESTOS INSPECTION REPORT 105 E 10th St Waterloo, IA f �F . � � s ~�L•r y�tii rrllrwsL��, Project Report Dated: June 10, 2020 0 0 L Q) CQ 0 U Page 201 of 557 AWK Y ENVIRONMENTAL I. CONTENTS A. ASBESTOS INSPECTION REPORT 1. LOCATION 2. CONTACT PERSONS 3. DATE OF INSPECTION 4. FIRM PERFORMING THE INSPECTION 5. BULK SAMPLE LABORATORY 6. LABORATORY ACCREDITATION B. SCOPE OF WORK/ INSPECTION NOTES C. SUMMARY OF ASBESTOS MATERIALS D. BULK SAMPLE ANALYSIS / CHAIN OF CUSTODY 0 0 L Q) 0 U Page 202 of 557 AWK Y ENVIRONMENTAL A. ASBESTOS INSPECTION REPORT DATA 1. LOCATION Commercial Property 105 E 10th St Waterloo, Iowa 2. CLIENT CONTACT Mr. Chris Western Planning and Zoning Department City of Waterloo, Iowa 3. DATE(s) OF INSPECTION April 29, 2020 4. FIRM PERFORMING INSPECTION Hawkeye Environmental 814 Wood Lily Road Solon, IA 52333 S. LABORATORY USED FOR BULK SAMPLE ANALYSIS Eurofins CEI 730 SE Maynard Road Cary, North Carolina, 27511 6. LABORATORY ACCREDITATION 0 NVLAP (Nation Voluntary Laboratory Accreditation Program) Lab Code: 101768 0 U Page 203 of 557 AWK Y ENVIRONMENTAL B. SCOPE OF WORK Methods and Procedures: The property located 105 E 10th St, Waterloo, Iowa was inspected prior to scheduled demolition activities which may disturb asbestos containing building materials in accordance with NESHAPS (National Emission Standards for Hazardous Air Pollutants) regulations. Field sampling methods were based on (NESHAPS) National Emission Standards for Hazardous Air Pollutants) protocols. Representative samples of suspect building materials were taken from Homogeneous Areas (HA-defined as similar in age, appearance and function). The purpose of this inspection was to identify quantities and locations of asbestos containing building materials prior to demolition of the structures. Bulk samples of suspect asbestos containing materials (ACM) were analyzed by Polarized Light Microscopy (PLM) with dispersion staining, as described in 40 CFR Part 763 and NESHAPS. Each sample was analyzed for the six different types of fibrous asbestos forms, of which a percentage, by volume, is estimated and summarized. If further analysis and quantification is warranted, this analysis is performed by EPA 600/R-93/116 with 400 or 600 Point Count Procedure. Further analysis of samples may also be performed at the client's request using Transmission Electron Microscopy (TEM). Sample analysis was performed by Eurofins CEI. Eurofins is accredited by the National Institute for Standards and Technology for Polarized Light Microscopy analysis under their NVLAP (National Voluntary Lab Accreditation Program). Asbestos Containing Building Materials (ACBM)s and their control during renovation or demolition activities is regulated in Iowa by the Iowa Department of Natural Resources. Specific questions about testing or abatement activities may be directed to Mr. Tom Wuehr, Iowa DNR -Air Quality Division. Tom.Wuehr@DNR.lowa.gov 515-494-8212 Additional forms, guidance and technical information regarding asbestos can be found on the DNR website at: http://www.iowadnr.gov/air/prof/asbestos/asbestos.html 0 0 v 0 U Page 204 of 557 AWK Y ENVIRONMENTAL INSPECTION NOTES In accordance with your request and authorization Hawkeye Environmental, LLC has performed and asbestos survey for the project referenced above. It is our understanding that the subject property will be demolished. Demolition has the potential to disturb all building materials. It is the intent of this survey to determine if any of the materials with potential for disturbance are asbestos containing. The structure is a warehouse cooler building with that is now vacant. The property is in poor condition for its age and state of use. Roof or roofing systems were sampled and included in this report. The SW roof of the building has completely collapsed and is on the ground. The interior walls of most of the building contain cork and mastic. The mastic in these walls contains asbestos. A representative number of samples were collected from all suspect asbestos building materials. 0 0 v 0 U Page 205 of 557 AWK Y ENVIRONMENTAL C. SUMMARY OF ASBESTOS BUILDING MATERIALS 105 E 10th St Surfacing Materials Material Description Location None Thermal Systems Insulation Material Description Location None Miscellaneous Materials Material Description Location Flashing Gray SW Roof Vent Tar Gray SW Roof Awning Tar Gray SW side of the standing building Cork Mastic Black Cooler Walls (Majority of the interior) <1%Asbestos Materials Material Description Location Plaster Gray Interior Walls * Materials which contain less than 1% asbestos are not considered "asbestos- containing materials" per Iowa DNR and EPA regulations. However, OSHA considers materials with any asbestos content to be a potential hazard. Contractors shall be required to comply with all OSHA regulations regarding removal of materials or demolition of structures with materials containing less than 1% asbestos. 0 0 i N f6 0 U Page 206 of 557 AWK Y ENVIRONMENTAL BULK SAMPLE ANALYSIS 105 E 10th St Waterloo, Iowa 0 0 L Q) 0 U Page 207 of 557 tiff eurofins CEI June 8, 2020 Hawkeye Environmental 814 Wood Lily Road Solon, IA 52333 CLIENT PROJECT: Waterloo, 105 E 10th CEI LAB CODE: A208497 Dear Customer: Enclosed are asbestos analysis results for PLM Bulk samples received at our laboratory on June 7, 2020. The samples were analyzed for asbestos using polarizing light microscopy (PLM) per the EPA 600 Method. Sample results containing >1% asbestos are considered asbestos-containing materials (ACMs) per EPA regulatory requirements. The detection limit for the EPA 600 Method is <1% asbestos by weight as determined by visual estimation. Thank you for your business and we look forward to continuing good relations. Kind Regards, Tianbao Bai, Ph.D., CIH Laboratory Director INVtA TESTING NVLAP LAB CODE 101768-0 730 SE Maynard Road • Cary, NC 27511 • 919.481 .1413 Page 208 of 557 tiff eurofins CEI ASBESTOS ANALYTICAL REPORT By: Polarized Light Microscopy Prepared for Hawkeye Environmental CLIENT PROJECT: Waterloo, 105 E 10th LAB CODE: A208497 TEST METHOD: EPA 600 / R93 / 116 and EPA 600 / M4-82 / 020 REPORT DATE: 06/08/20 TOTAL SAMPLES ANALYZED: 20 # SAMPLES >1% ASBESTOS: 6 Page 209 of 557 OeurofinsAsbestos Report Summary CEI By: POLARIZING LIGHT MICROSCOPY PROJECT: Waterloo, 105 E 10th LAB CODE: A208497 METHOD: EPA 600 / R93 / 116 and EPA 600 / M4-82 / 020 ASBESTOS Client ID Layer Lab ID Color Sample Description % 001 A127168 Black Roof Core None Detected 002 A127169 Black Roof Core None Detected 003 A127170 Black Flashing mg=- flaw 004 A127171 Black Vent Tar MAMMA- 005 A127172 Black Awning Tar 006 A127173 Black Roof Core None Detected 007 A127174 Black Shingle None Detected 008 A127175 Black Tarpaper None Detected 009 A127176 Gray Plaster Chrysotile <1% 010 A127177 Gray Plaster Chrysotile <11% 011 A127178 Gray Plaster Chrysotile <1% 012 A127179 Gray Plaster None Detected 013 A127180 Gray Plaster None Detected 014 A127181 Gray Plaster None Detected 015 A127182 Brown Cork Only None Detected 016 A127183 Brown Cork Only None Detected 017 A127184 Brown Cork Only None Detected 018 A127185 Black Cork Mastic 019 A127186 Black Cork Mastic 020 A127187 Black Cork Mastic Page 1 of 1 Page 210 of 557 ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A208497 814 Wood Lily Road Date Received: 06-07-20 Solon, IA 52333 Date Analyzed: 06-07-20 Date Reported: 06-08-20 Project: Waterloo, 105 E 10th ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 001 Roof Core Heterogeneous 15% Cellulose 65% Tar None Detected A127168 Black 20% Fiberglass Fibrous Bound 002 Roof Core Heterogeneous 15% Cellulose 65% Tar None Detected A127169 Black 20% Fiberglass Fibrous Bound 003 Flashing Homogeneous 95% Tar A127170 Black Fibrous Bound 004 Vent Tar Homogeneous 95% Tar A127171 Black Fibrous Bound 005 Awning Tar Homogeneous 95% Tar A127172 Black Fibrous Bound 006 Roof Core Heterogeneous 20% Cellulose 75% Tar None Detected A127173 Black 5% Foam Fibrous Bound 007 Shingle Heterogeneous 30% Fiberglass 50% Tar None Detected A127174 Black 20% Gravel Fibrous Bound Page 1 of 4 Page 211 of 557 •., ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A208497 814 Wood Lily Road Date Received: 06-07-20 Solon, IA 52333 Date Analyzed: 06-07-20 Date Reported: 06-08-20 Project: Waterloo, 105 E 10th ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 008 Tarpaper Homogeneous 35% Cellulose 65% Tar None Detected A127175 Black Fibrous Bound 009 Plaster Heterogeneous 65% Silicates <1%Chrysotile A127176 Gray 25% Binder Non-fibrous 10% Paint Bound 010 Plaster Heterogeneous 65% Silicates <1%Chrysotile A127177 Gray 25% Binder Non-fibrous 10% Paint Bound 011 Plaster Heterogeneous 65% Silicates <1%Chrysotile A127178 Gray 25% Binder Non-fibrous 10% Paint Bound 012 Plaster Heterogeneous 65% Silicates None Detected A127179 Gray 25% Binder Non-fibrous 10% Paint Bound 013 Plaster Heterogeneous 65% Silicates None Detected A127180 Gray 25% Binder Non-fibrous 10% Paint Bound 014 Plaster Heterogeneous 65% Silicates None Detected A127181 Gray 25% Binder Non-fibrous 10% Paint Bound Page 2 of 4 Page 212 of 557 ASBESTOS BULK ANALYSIS tiff e u rof i n s CEI By: POLARIZING LIGHT MICROSCOPY Client: Hawkeye Environmental Lab Code: A208497 814 Wood Lily Road Date Received: 06-07-20 Solon, IA 52333 Date Analyzed: 06-07-20 Date Reported: 06-08-20 Project: Waterloo, 105 E 10th ASBESTOS BULK PLM, EPA 600 METHOD Client ID Lab Lab NON-ASBESTOS COMPONENTS ASBESTOS Lab ID Description Attributes Fibrous Non-Fibrous % 015 Cork Only Homogeneous 100% Cork None Detected A127182 Brown Non-fibrous Bound 016 Cork Only Homogeneous 100% Cork None Detected A127183 Brown Non-fibrous Bound 017 Cork Only Homogeneous 100% Cork None Detected A127184 Brown Non-fibrous Bound 018 Cork Mastic Homogeneous 97% Tar A127185 Black Fibrous Bound 019 Cork Mastic Homogeneous 97% Tar A127186 Black Fibrous Bound 020 Cork Mastic Homogeneous 97% Tar A127187 Black Fibrous Bound Page 3 of 4 Page 213 of 557 tiff eurofins CEI LEGEND: Non-Anth = Non-Asbestiform Anthophyllite Non-Trem = Non-Asbestiform Tremolite Calc Carb = Calcium Carbonate METHOD: EPA 600 / R93 / 116 and EPA 600 / M4-82 / 020 REPORTING LIMIT: <1% by visual estimation REPORTING LIMIT FOR POINT COUNTS: 0.25% by 400 Points or 0.1% by 1,000 Points REGULATORY LIMIT: >1% by weight Due to the limitations of the EPA 600 method, nonfriable organically bound materials (NOBs) such as vinyl floor tiles can be difficult to analyze via polarized light microscopy (PLM). EPA recommends that all NOBs analyzed by PLM, and found not to contain asbestos, be further analyzed by Transmission Electron Microscopy (TEM). Please note that PLM analysis of dust and soil samples for asbestos is not covered under NVLAP accreditation. Estimated measurement of uncertainty is available on request. This report relates only to the samples tested or analyzed and may not be reproduced, except in full, without written approval by Eurofins CEI. Eurofins CEI makes no warranty representation regarding the accuracy of client submitted information in preparing and presenting analytical results. Interpretation of the analytical results is the sole responsibility of the client. Samples were received in acceptable condition unless otherwise noted. This report may not be used by the client to claim product endorsement by NVLAP or any other agency of the U.S. Government. Information provided by customer includes customer sample ID and sample description. ANALYST: �� r APPROVED BY: Emily Lineback Tianbao Bai, Ph.D., CIH Laboratory Director m V A TESTING NVLAP LAB CODE 101768-0 Page 4 of 4 Page 214 of 557 0% e u rof i n s CHAIN OF CUSTODY ti LAB USE ONLY. 730 SE Maynard Road, Cary, NC 27511 CEI Lab Code: Z Tel: 866-481-1412; Fax: 919-481-1442 CEI Lab I.D. Range: COMPANY INFORMATION PROJECT INFORMATION CEI CLIENT#: Job Contact: Company:Hawkeye Environmental Email ITel: Address: 814 wood lily road, Solon, IA 52333 Project Name: W �0 Project I D#: L V C9 Email:Cody@HawkeyeEnv.com PO#: Tel: 319-930-8044 Fax: STATE SAMPLES COLLECTED IN: IF TAT IS NOT MARKED STANDARD 3 DAY TAT APPLIES. TURN AROUND TIME ASBESTOS METHOD 4 HR 8 HR 1P Y 2 DAY 3 DAY 5 DRY PLM BULK EPA 600 ❑ ❑ gv ❑ ❑ [❑ PLM POINT COUNT(400) EPA 600 ❑ ❑ ❑ ❑ ❑ ❑ PLM POINT COUNT(1000) EPA 600 ❑ ❑ ❑ ❑ ❑ ❑ _ PLM GRAY w POINT COUNT EPA 600 ❑ ❑ ❑ ❑ ❑ PLM BULK CARB 43S ❑ ❑ ❑ ❑ ❑ PCM AIR` NIOSH 7400 ❑ ❑ ❑ ❑ ❑ ❑ TFM AIR EPA AHERA ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR NIOSH 7402 ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR(PCME) ISO 10312 ❑ ❑ ❑ ❑ ❑ ❑ TEM AIR ASTM 6281-15 ❑ ❑ I❑ ❑ ❑ ❑ TEM SULK CHATFIELD ❑ ❑ ❑ ❑ ❑ TEM DUST WIPE ASTM D6480-05(2010) ❑ ❑ ❑ ❑ ❑ ❑ TEM DUST MICROVAC ASTM 05755-09(2014) ❑ ❑ ❑ ❑ ❑ ❑ TEM SOIL ASTM D7521-16 ❑ ❑ ❑ ❑ TEM VERMICULITE CINCINNATI METHOD ❑ ❑ ❑ ❑ TEM QUALITATIVE IN-HOUSE METHOD ❑ ❑ ❑ ❑ ❑ OTHER ❑ ❑ ❑ ❑ ❑ ❑ 'Blanks should be taken from the same sample lot as Feld samples. REMARKS /SPECIAL INSTRUCTIONS: ❑ Accept Samples ❑ Reject Samples Relinquished By. Date/Time Received By: DatelTime Samples will be disposed of 30 days after analysis Page of Version: CCOC.01.18.112.LD Page 215 of 557 euroflns SAMPLING FORM CEI COMPANY.CONTACT INFORMATION Company:Hawkeye Environmental Job Contact: Project Name: Project ID#: Tel: VOLUME/ SAMPLE 1D# DESCRIPTION I LOCATION AREA TEST 6"l C- PLM TEM 0 bo-7- PLM n TEM C U T—\0 y�a•. ,t PLM TEM [-71 PLM TEM [� D �� PLM TEM C?ib ct_ 7 PLM 0 TEM 0 PLM TEM 0 PLM TEM PLM TEM V L, PLM TEM 0 PLM TEM PLM TEM PLM 0 TEM 0 h t PLM TEM 0 PLM U TEM 0 L t PLM TEM bn PLM 0 TEM C A,-y PLM 0 TEM 0 G \CI ;t PLM TEM Cz PLM TEM 0 PLM TEM 0 PLM 0 TEM PLM TEM 0 PLM TEM PLM TEM PLM D TEM PLM TEM PLM 0 TEM Page of Version: CCOC.01.18.212.LD Page 216 of 557 EMC LABS, INC. Laboratory Report 9830 S. 51st Street, Suite 13109, Phoenix, AZ 85044 0262084 Phone: 800-362-3373 or 480-940-5294-Fax: (480)893-1726 Bulk Asbestos Analysis by Polarized Light Microscopy NVLAP#101926-0 Client: ADVANCED ENVIRONMENTAL Job#/P.O. #: 21-26684 Address: 803 RICKER ST. Date Received: 10/07/2021 WATERLOO IA 50703 Date Analyzed: 10/08/2021 Collected: 09/28/2021 Date Reported: 10/08/2021 Project Name: 100 EAST 9TH ST, MECHANICAL RM EPA Method: EPA 600/R-93/116 SAMPLING Submitted By: JAY LLEWELLYN Address: Collected By: Lab ID Sample Layer Name/ Asbestos Asbestos Type Non-Asbestos Client ID Location Sample Description Detected N Constituents 0262084-001 WEST MECH RM- LAYER 1 Yes Chrysotile 80% Cellulose Fiber 10% OCB-1 WEST END Pipe Fitting,White/Gray Carbonates Gypsum Quartz Binder/Filler 10% LAYER 2 No None Detected Cellulose Fiber 85% Wrap,White/Tan Gypsum Binder/Filler 15% LAYER 3 No None Detected Paint/Coating,White/Gray Carbonates Quartz Binder/Filler 100% 0262084-002 WEST MECH RM- Mud,White/Tan Yes Chrysotile 5% Mineral Wool 30% OCB-2 ON GROUND Gypsum Quartz Carbonates Perlite Binder/Filler 65% Page 1 of 2 Page 217 of 557 EMC LABS, INC. Laboratory Report 9830 S. 51st Street, Suite 13109, Phoenix, AZ 85044 0262084 Phone: 800-362-3373 or 480-940-5294-Fax: (480)893-1726 Bulk Asbestos Analysis by Polarized Light Microscopy NVLAP#101926-0 Client: ADVANCED ENVIRONMENTAL Job#/P.O. #: 21-26684 Address: 803 RICKER ST. Date Received: 10/07/2021 WATERLOO IA 50703 Date Analyzed: 10/08/2021 Collected: 09/28/2021 Date Reported: 10/08/2021 Project Name: 100 EAST 9TH ST, MECHANICAL RM EPA Method: EPA 600/R-93/116 SAMPLING Submitted By: JAY LLEWELLYN Address: Collected By: Lab ID Sample Layer Name/ Asbestos Asbestos Type Non-Asbestos Client ID Location Sample Description Detected N Constituents 0262084-003 WEST MECH RM- LAYER 1 No None Detected Synthetic Fiber 85% OCB-3 SE AREA Insulation,Beige/Tan Carbonates Gypsum Binder/Filler 15% LAYER 2 No None Detected Cellulose Fiber 20% Pipe Coating, Black Gypsum Binder/Filler 80% LAYER 3 No None Detected Cellulose Fiber 85% Wrap,White/Tan Carbonates Gypsum Binder/Filler 15% LAYER 4 No None Detected Paint/Coating,White/Off White Carbonates Binder/Filler 100% 0262084-004 WEST MECH RM- Wrap,Black Yes Chrysotile 40% OCB-4 WEST END Gypsum Quartz Binder/Filler 60% Analyst- Kenneth Scheske Signatory-Lab Director-Kurt Kettler Distinctly stratified,easily separable layers of samples are analyzed as subsam pies of the whole and are reported separately for each discernible layer.All analyses are derived from calibrated visual estimate and measured in area percent unless otherwise noted.The report applies to the standards or procedures identified and to the sample(s)tested.The test results are not necessarily indicated or representative of the qualities of the lot from which the sample was taken or of apparently identical or similar products,nor do they represent an ongoing quality assurance program unless so noted.These reports are for the exclusive use of the addressed client and that they will not be reproduced wholly or in part for advertising or other purposes over our signature or in connection with our name without special written permission.The report shall not be reproduced except in full,without written approval by our laboratory.The samples not destroyed in testing are retained a maximum of thirty days.The laboratory measurement of uncertainty for the test method is approximately less than 1 by area percent. Accredited by the National Institute of Standards and Technology,Voluntary Laboratory Accreditation Program for selected test method for asbestos.The accreditation or any reports generated by this laboratory in no way constitutes or implies product certification,approval,or endorsement by the National Institute of Standards and Technology.The report must not be used by the client to claim product certification,approval,or endorsement by NVLAP,NIST,or any agency of the Federal Government.Polarized Light Microscopy may not be consistently reliable in detecting asbestos in floor coverings and similar non-friable organically bound materials. Page 2 of 2 Page 218 of 557 EXHIBIT "C" ASBESTOS ABATEMENT SERVICES CONTRACT #AB-2021-11-01P Portion of 100 E 9` Street This Contract for Asbestos Abatement Services (the "Contract") is entered into as of November 15, 2021, by and between the City of Waterloo, Iowa("City") and In consideration of the mutual promises exchanged herein, the parties agree as follows: 1. Term and Services. For the period of November 15, 2021 thru December 31, 2021, subject to extension upon the mutual written agreement of the parties, the Contractor agrees to furnish all tools, labor and materials, and perform and substantially complete all work within the time period stated in the specifications after receipt of Notice to Proceed with respect to a given property or set of properties. By executing this Contract, Contractor certifies that it holds an asbestos permit issued by the Iowa Division of Labor and that all personnel who perform work on the project will have an asbestos license issued by the Iowa Division of Labor. Contractor agrees that such permit and licenses will be maintained during the term of this Contract. Work to be performed includes all work described in the Contract Documents (defined below). Contractor shall provide the above services at the cost set forth in the Contractor's RFB response. Contractor's request for payment for services authorized under this Contract shall be submitted in accordance with the Contract Documents and will be paid within forty-five (45) days after receipt of an original invoice and after such services are delivered and accepted and all necessary supporting documentation is submitted. Contractor will be paid for all items satisfactorily completed. Such payment will be full compensation for asbestos removal and disposal, for all permits, licenses, inspections, for complying with all laws, rules, regulations and ordinances, including safety, and for furnishing all materials, equipment and labor to complete the work in accordance with the plans and specifications. 2. Contract Documents. The following documents (collectively, the "Contract Documents") are hereby incorporated by reference as though set forth herein in full: a. Request for Bid b. Addenda (if any) c. Response (Proposal) from the Contractor In the event of conflict between the provisions of the Contract Documents and this Contract, the provisions of this Contract shall prevail. 2.1 Contract Limits. Total actual expenses allowed by the project Contract, including any renewal extensions of the Contract, shall not exceed$ as provided in the Bid Tabulation that is part of Contractor's RFB Response referenced in Section 2.c above, except by written amendment as provided herein. Page 219 of 557 3. Approval; Timing of Work. Contractor shall not begin work until after the Contract has been approved by the City Council and the Contractor has been issued a Notice to Proceed. The work shall commence within ten(10) days after the City has issued a Notice to Proceed with respect to any particular property or set of properties, and all work shall be completed and delivered within the term of the Contract. 4. Performance Bond. Not required for this Contract. 4.1 Payment Bond. Not required for this Contract. 5. Reporting; Records. Contractor shall exercise best efforts to maintain communication with City personnel whose involvement in the project is necessary or advisable for successful and timely completion of the work of the project. Communications between the parties shall be verbal or in writing, as requested by the parties or as dictated by the subject matter to be addressed. Contractor shall maintain all project records for a minimum period of three (3) years after the date of final payment for services rendered under this Contract. During the term of this Contract and for the ensuing record-retention period, Contractor shall make any or all project records available upon reasonable request, and in any event within two (2)business days of request, to City, and any other agency of state or federal government. For purposes of this section, "records"means any and all books, documents, papers and records of any type or nature that are directly pertinent to this Contract. Contractor agrees to furnish,upon termination of this Contract and upon demand by the City, copies of all basic notes and sketches, charts, computations, and any other data prepared or obtained by the Contractor pursuant to this Contract, without cost and without restrictions or limitation as to the use relative to specific projects covered under this Contract. In such event, the Contractor shall not be liable for the City's use of such documents on other projects. 6. Re-inspection Costs. The contractor that performed the asbestos surveys for the properties (Exhibit`B"to the RFB)will inspect the properties for proper removal of ACM. If the abatement Contractor fails to remove all ACM that requires any re-inspection by the survey contractor, the abatement Contractor shall be responsible to pay(directly to the survey contractor) any and all fees associated with said re-inspection. 7. Indemnity. Except as to any negligence of City, its officials, officers, employees or agents, in the performance of any duty under this Contract, and to the extent not covered by insurance maintained by Contractor, Contractor agrees to defend and indemnify City, its officials, officers, employees and agents, and to hold same harmless, from and against any and all claims, demands, causes of action, losses, costs, or liabilities whatsoever, including but not limited to reasonable attorneys' fees and expenses, arising from or in connection with the acts or omissions of Contractor in providing the services contemplated by this Contract. This will include but is not limited to actions or suits based upon or alleging bodily injury, including death, or property damage rising out of or resulting from the Contractor's operation under this Contract, whether by itself or by any subcontractor or anyone directly or indirectly employed by any of them. Contractor is not and shall not be deemed an agent or employee of the City. 8. Default; Termination for Cause. In the event that Contractor defaults in the performance or observance of any covenant, agreement or obligation set forth in this Contract, and if such default remains uncured for a period of seven(7)days after notice thereof shall have been 2 Page 220 of 557 given by City to Contractor(or for a period of fourteen(14) days after such notice if such default is curable but requires acts to be done or conditions to be remedied which,by their nature,cannot be done or remedied within such 14-day period and thereafter Contractor fails to diligently and continuously prosecute the same to completion within such 14-day period),then City may declare that Contractor is in default hereunder and may take any one or more of the following steps, at its option: a. by mandamus or other suit, action or proceeding at law or in equity,require Contractor to perform its obligations and covenants hereunder, or enjoin any acts or things which may be unlawful or in violation of the rights of the City hereunder, or obtain damages caused to the City by any such default; b. have access to and inspect, examine and make copies of all books and records of Contractor which pertain to the project; C. declare a default of this Contract,make no further disbursements, and demand immediate repayment from Contractor of any funds previously disbursed under this Contract; d. terminate this Contract by delivery to Contractor of written notice of termination; and/or e. take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor hereunder, including but not limited to the recovery of funds. No delay in enforcing the provisions hereof as to any breach or violation shall impair, damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suit or other enforcement action hereunder, Contractor agrees to pay the reasonable attorneys' fees and expenses incurred by City. 9. Termination for Convenience. This Contract may be terminated at any time, in whole or in part, upon the mutual written agreement of the parties. City may also choose to terminate this Contract at any time by delivering to Contractor 10-days' advance written notice of intent to terminate. 10. Non-Assignable Duties. Contractor may not assign its duties hereunder without the prior written consent of City. 11. Independent Contractor. Contractor is an independent contractor and is not an employee, servant, agent, partner, or joint venturer of City. Contractor has no power or authority to enter into contracts or agreements on behalf of City. City shall determine the work to be done by Contractor,but Contractor shall determine the legal means by which it performs the work specified by City. City is not responsible for withholding, and shall not withhold, FICA or taxes of any kind from any payments which it owes Contractor. Neither Contractor nor its employees, if any, shall be entitled to receive any benefits which employees of City are entitled to receive and shall not be entitled to workers' compensation, unemployment compensation, medical 3 Page 221 of 557 insurance, life insurance, pension, or any benefits of any type or nature whatsoever on account of their work for City. Contractor shall be solely responsible for compensating its employees, if any. 12. Anti-Discrimination. During the performance of this Contract, Contractor, for itself, its assignees and successors in interest, agrees to comply with the anti-discrimination laws of the State of Iowa, as contained in Sections 19B, 551.4 of the Code of Iowa, which are herein incorporated by reference and made a part of this Contract. 13. Severability. In the event any provision of this Contract, together with the Contract Documents, is held invalid, illegal, or unenforceable, whether in whole or in part, the remaining provisions of this Contract shall not be affected thereby and shall continue in full force and effect. If, for any reason, a court finds that any provision of this Contract is invalid, illegal, or unenforceable as written, but that by limiting such provision it would become valid, legal, and enforceable, then such provision shall be deemed to be written and shall be construed and enforced as so limited. 14. General Terms. This Contract, together with the Contract Documents, constitutes the entire agreement between the parties pertaining to the subject matter hereof. This Contract may not be modified or amended except pursuant to the mutual written agreement of the parties. This Contract is binding on the parties and the heirs, personal representatives, successor and assigns of each. Time is of the essence in the performance of the terms hereof. IN WITNESS WHEREOF, the parties have executed this Contract for Asbestos Abatement Services as of the date first set forth above. CITY OF WATERLOO, IOWA CONTRACTOR By: Quentin Hart, Mayor Authorized Representative Attest: Kelly Felchle, City Clerk 4 Page 222 of 557 5� t . E \. Portion of buildinPortion of building that not ye abated g has already been abated Portion of � _ building with collap"d roof i O� r N W�E Cit LJ of Waterloo,Iowa S Page 223 of 557 lot- 1 ' Collapsed roof portion, with ACM flashing tar r ,f '4 Collapsed roof portion, with ACM flashing tar Page 224 of 557 - F ACM • •' insulation stick up ACM flashing stuck to brick Page of Boiler Room pics w s � a t / r a - Page 226 of Boiler Room pics 'row, I a Z 1 7 Page 227 of 557 ASBESTOS ABATEMENT SERVICES CONTRACT#AB-2021-11-01P Portion of 100 E 911 Street This Contract for Asbestos Abatement Services(the"Contract") is entered into as of November 15, 2021, by and between the City of Waterloo, Iowa("City") and Advanced Environmental, Inc. ("Contractor"). In consideration of the mutual promises exchanged herein, the parties agree as follows: I. Term and Services. For the period of November 15, 2021 thru December 31, 2021,subject to extension upon the mutual written agreement of the parties, the Contractor agrees to furnish all tools, labor and materials,and perform and substantially complete all work within the time period stated in the specifications after receipt of Notice to Proceed with respect to a given property or set of properties. By executing this Contract, Contractor certifies that it holds an asbestos permit issued by the Iowa Division of Labor and that all personnel who perform work on the project will have an asbestos license issued by the Iowa Division of Labor. Contractor agrees that such permit and licenses will be maintained during the term of this Contract. Work to be performed includes all work described in the Contract Documents(defined below). Contractor shall provide the above services at the cost set forth in the Contractor's RFB response. Contractor's request for payment for services authorized under this Contract shall be submitted in accordance with the Contract Documents and will be paid within forty-five (45) days after receipt of an original invoice and after such services are delivered and accepted and all necessary supporting documentation is submitted. Contractor will be paid for all items satisfactorily completed. Such payment will be full compensation for asbestos removal and disposal, for all permits, licenses, inspections, for complying with all laws, rules, regulations and ordinances, including safety, and for furnishing all materials, equipment and labor to complete the work in accordance with the plans and specifications. 2. Contract Documents. The following documents (collectively, the "Contract Documents") are hereby incorporated by reference as though set forth herein in full: a. Request for Bid b. Addenda(if any) c. Response (Proposal) from the Contractor In the event of conflict between the provisions of the Contract Documents and this Contract,the provisions of this Contract shall prevail. 2.1 Contract Limits. Total actual expenses allowed by the project Contract, including any renewal extensions of the Contract, shall not exceed $14,500.00 as provided in the Bid Tabulation that is part of Contractor's RFB Response referenced in Section 2.c above, except by written amendment as provided herein. Page 228 of 557 3. Approval, Timing of Work. Contractor shall not begin work until after the Contract has been approved by the City Council and the Contractor has been issued a Notice to Proceed. The work shall commence within ten (10)days after the City has issued a Notice to Proceed with respect to any particular property or set of properties, and all work shall be completed and delivered within the term of the Contract. 4. Performance Bond. Not required for this Contract. 4.1 Payment Bond. Not required for this Contract. 5. Reporting; Records. Contractor shall exercise best efforts to maintain communication with City personnel whose involvement in the project is necessary or advisable for successful and timely completion of the work of the project. Communications between the parties shall be verbal or in writing,as requested by the parties or as dictated by the subject matter to be addressed. Contractor shall maintain all project records for a minimum period of three(3) years after the date of final payment for services rendered under this Contract. During the term of this Contract and for the ensuing record-retention period, Contractor shall make any or all project records available upon reasonable request, and in any event within two (2)business days of request,to City, and any other agency of state or federal government. For purposes of this section, "records" means any and all books, documents, papers and records of any type or nature that are directly pertinent to this Contract. Contractor agrees to furnish, upon termination of this Contract and upon demand by the City, copies of all basic notes and sketches, charts, computations, and any other data prepared or obtained by the Contractor pursuant to this Contract, without cost and without restrictions or limitation as to the use relative to specific projects covered under this Contract. In such event, the Contractor shall not be liable for the City's use of such documents on other projects. 6. Re-inspection Costs. The contractor that performed the asbestos surveys for the properties(Exhibit"B" to the RFB) will inspect the properties for proper removal of ACM. If the abatement Contractor fails to remove all ACM that requires any re-inspection by the survey contractor, the abatement Contractor shall be responsible to pay (directly to the survey contractor)any and all fees associated with said re-inspection. 7. Indemnity. Except as to any negligence of City, its officials, officers, employees or agents, in the performance of any duty under this Contract, and to the extent not covered by insurance maintained by Contractor, Contractor agrees to defend and indemnify City, its officials, officers, employees and agents, and to hold same harmless, from and against any and all claims,demands, causes of action, losses, costs, or liabilities whatsoever, including but not limited to reasonable attorneys' fees and expenses, arising from or in connection with the acts or omissions of Contractor in providing the services contemplated by this Contract. This will include but is not limited to actions or suits based upon or alleging bodily injury, including death, or property damage rising out of or resulting from the Contractor's operation under this Contract, whether by itself or by any subcontractor or anyone directly or indirectly employed by any of them. Contractor is not and shall not be deemed an agent or employee of the City. 8. Default, Termination for Cause. In the event that Contractor defaults in the performance or observance of any covenant,agreement or obligation set forth in this Contract,and if such default remains uncured for a period of seven (7)days after notice thereof shall have been 2 Page 229 of 557 given by City to Contractor(or for a period of fourteen (14)days after such notice if such default is curable but requires acts to be done or conditions to be remedied which, by their nature,cannot be done or remedied within such 14-day period and thereafter Contractor fails to diligently and continuously prosecute the same to completion within such 14-day period),then City may declare that Contractor is in default hereunder and may take any one or more of the following steps,at its option: a. by mandamus or other suit,action or proceeding at law or in equity,require Contractor to perform its obligations and covenants hereunder,or enjoin any acts or things which may be unlawful or in violation of the rights of the City hereunder,or obtain damages caused to the City by any such default; b. have access to and inspect,examine and make copies of all books and records of Contractor which pertain to the project; c. declare a default of this.Contract, make no further disbursements,and demand immediate repayment from Contractor of any funds previously disbursed under this Contract; d. terminate this Contract by delivery to Contractor of written notice of termination; and/or e. take whatever other action at law or in equity may be necessary or desirable to enforce the obligations and covenants of Contractor hereunder, including but not limited to the recovery of funds. No delay in enforcing the provisions hereof as to any breach or violation shall impair,damage or waive the right of City to enforce the same or to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. In the event that City prevails against Contractor in a suitor other enforcement action hereunder,Contractor agrees to pay the reasonable attorneys' fees and expenses incurred by City. 9. Termination for Convenience. This Contract may be terminated at any time, in whole or in part, upon the mutual written agreement of the parties. City may also choose to terminate this Contract at any time by delivering to Contractor 10-days' advance written notice of intent to terminate. 10. Non-Assignable Duties. Contractor may not assign its duties hereunder without the prior written consent of City. 11. Independent Contractor. Contractor is an independent contractor and is not an employee, servant, agent, partner, or joint venturer of City. Contractor has no power or authority to enter into contracts or agreements on behalf of City. City shall determine the work to be done by Contractor, but Contractor shall determine the legal means by which it performs the work specified by City. City is not responsible for withholding, and shall not withhold, FICA or taxes of any kind from any payments which it owes Contractor. Neither Contractor nor its employees, if any, shall be entitled to receive any benefits which employees of City are entitled to receive and shall not be entitled to workers' compensation, unemployment compensation, medical 3 Page 230 of 557 insurance, life insurance, pension, or any benefits of any type or nature whatsoever on account of their work for City. Contractor shall be solely responsible for compensating its employees, if any. 12. Anti-Discrimination. During the performance of this Contract, Contractor, for itself, its assignees and successors in interest, agrees to comply with the anti-discrimination laws of the State of Iowa, as contained in Sections 19B, 551.4 of the Code of Iowa, which are herein incorporated by reference and made a part of this Contract. 13. Severability. In the event any provision of this Contract, together with the Contract Documents, is held invalid, illegal, or unenforceable, whether in whole or in part, the remaining provisions of this Contract shall not be affected thereby and shall continue in full force and effect. If, for any reason, a court finds that any provision of this Contract is invalid, illegal, or unenforceable as written, but that by limiting such provision it would become valid, legal, and enforceable, then such provision shall be deemed to be written and shall be construed and enforced as so limited. 14. General Terms. This Contract, together with the Contract Documents, constitutes the entire agreement between the parties pertaining to the subject matter hereof. This Contract may not be modified or amended except pursuant to the mutual written agreement of the parties. This Contract is binding on the parties and the heirs, personal representatives, successor and assigns of each. Time is of the essence in the performance of the terms hereof. IN WITNESS WHEREOF, the parties have executed this Contract for Asbestos Abatement Services as of the date first set forth above. CITY OF WATERLOO, IOWA ADVANCED ENVIRONMENTAL, INC. By: E�:� � Quentin Hart, Mayor Authorized Representative Attest: Kelly Felchle, City Clerk 4 Page 231 of 557 CITY OF WATERLOO Council Communication Sale and conveyance of property located northeast of the Leversee Road and Lake Street intersection, to Zydeco Investments, LLC, (for CPM plant), in the amount of$1,170,000, approve a Development Agreement including grant funds, option for acquisition of land, and tax rebates for fifteen years at fifty percent, and Minimum Assessment Agreement at$8,000,000, for the development of a 170,000 square foot building. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ Signed Agreement Backup Material ❑ Updated Site Plan Backup Material ❑ Site Plan St. Martin Land Company Backup Material Motion to receive and file proof of publication of notice of public hearing_ HOLD HEARING -No Comments on File. Motion to close hearing and receive and file oral and written comments. Resolution approving the sale and conveyance of city owned property located northeast of the intersection of Leversee Road and Lake Street. in SUBJECT: the amount of$1,170,000, to Zydeco Investments, LLC and authorizing the Mayor and City Clerk to execute necessary documents. Resolution approving a Development Agreement with Zydeco Investments, LLC, including grant funds of$1,270,000, option for acquisition of land, tax rebates for fifteen years at fifthpercent, and a Minimum Assessment Agreement of$8,000.000, and authorizing the Mayor and City Clerk to execute said document. Submitted by: Submitted By:Noel Anderson. Community Planning and Development Director Recommended Action: Approve the resolution The City has competed with other communities for the expansion and relocation of CPM in the Cedar Valley. CPM will be growing from a current facility of 66,444 sq. ft. to a new facility of 170,000 sq. ft. on the west side of the Waterloo Regional Airport, in the new Waterloo Air and Rail Park. The Development Agreement contains an incentive package where Zydeco Investments, LLC will construct the building for the CPM project, buying land from the City of Waterloo for$1,170,000. Once complete with the building(Certificate of Occupancy), the City will pay back$1,270,000 to the Summary Statement: project, reimbursing the land acquisition and an additional$100,000 for dirt work needed for the site (which helps the City with dirt movement out there for the new roadway). The project will start construction by December 31, 2021 and be complete by December 31, 2023. The City will have an option to acquire the former CPM site on 2975 Airline Circle after the new building is completed. The City was awarded RISE funds for the new roadway to serve this site Page 232 of 557 and land on the south side of the new road location, opening up additional land in the industrial park. The new project will have a beneficial impact on the new industrial area as it Neighborhood Impact: helped leverage State funds for roadway development, brings new construction and visibility to the area. Strategies 1.3, 1.4, 1.7, 3.1, and 3.8 --- creation of jobs, ways to create an Data/Analysis and Strategies: environment to attract population to Waterloo, create new tax base, new investment in CURA area and TIF areas Implementation,Accountability, The project has gone through several hearings at the Planning Commission and Communication: and City Council for the zoning approvals. Community Engagement The project has gone through several hearings at the Planning Cominission Methods: and City Council for the zoning approvals. Expenditure Required/Source of tax rebates and $100,000 for grant from East Unified TIF District Funds: Alternative: Not approve Land to be conveyed: Legal Descriptions: Lot 4 of Waterloo Air and Rail Park Second Addition Land with option to be conveyed: Lot 5 of Waterloo Air and Rail Park Second Addition Page 233 of 557 Prepared by Christopher S.Wendlend,P.O. Box 596,Waterloo, IA 50704 Phone(319)234-5701 DEVELOPMENT AGREEMENT This Development Agreement (the "Agreement") is entered into as of November 2021, by and between Zydeco Investments, LLC (the "Company") and the City of Waterloo, Iowa (the "City"). RECITALS A. City considers economic development within the City a benefit to the community and is willing for the overall good and welfare of the community to provide financial incentives so as to encourage that goal, and the City further believes that the project is in the vital and best interests of the City and that the project and such incentives are in accordance with the public purposes and provisions of applicable State and local laws and requirements under which the project has been undertaken and is being assisted. B. Company is willing and able to finance and construct buildings and related improvements on property located in the East Waterloo Unified Urban Renewal and Redevelopment Plan Area, formerly known as the Airport Area Development Plan area, (the "Urban Renewal Area") and legally described on Exhibit "A" attached hereto (the "Property"). AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the parties agree as follows: 1. Sale of Property; Title. Subject to the terms hereof, City shall convey the Property to Company for the sum of one million, one hundred and seventy thousand dollars ($1.170.000.00) (the "Purchase Price"). Conveyance shall be by quit claim deed, free and clear of all encumbrances arising by or through City except: (a) easements, servitudes, conditions and restrictions of record; (b) general utility and right-of-way easements serving the Property; and (c) restrictions imposed by the City zoning ordinances and other applicable law. City shall have no duty to convey title to Company until Company delivers to City reasonable and satisfactory proof of financial Page 234 of 557 ability to undertake and carry on the Project (defined below), which may take the form of a lending commitment letter. Company shall, at its own expense, prepare an updated abstract of title, or in lieu thereof Company may, at its own expense, obtain whatever form of title evidence it desires. City shall provide any abstracts and title documents it has in its possession, if any, to assist in title review. If title is unmarketable or subject to matters not acceptable to Company, and if City does not remedy or remove such objectionable matters in timely fashion following written notice of such objections from Company, Company may terminate this Agreement without further obligation and return the abstract of title to City. 2. Improvements by Company. Company shall construct on the Property an industrial building of no less than 170,000 total square feet, comprised of approximately 20,000 square feet of office space, 138,000 square feet of manufacturing and warehouse space, and 12,000 square feet of product testing space, as well as related landscaping, paving, signage and parking improvements (collectively, the "Improvements"), in accordance with the Plans as provided in Section 2.1. Company agrees that the Improvements shall be constructed in accordance with the terms of this Agreement, the East Waterloo Unified Urban Renewal and Redevelopment Plan (the "Urban Renewal Plan"), and all applicable City, state, and federal building codes and shall comply with all applicable City ordinances and other applicable law. Company will use its best efforts to obtain, or cause to be obtained, in a timely manner, all required permits, licenses and approvals, and will meet, in a timely manner, all requirements of all applicable local, state, and federal laws and regulations which must be obtained or met before the Improvements may be lawfully constructed. The Property, the Improvements, and all site preparation and development-related work to make the Property usable for Company's purposes as contemplated by this Agreement are collectively referred to as the "Project". 2.1. Construction Plans. Company agrees that it will cause the Improvements to be constructed on the Property in conformance with construction plans (the "Plans") submitted to the City. Company agrees that the scope and scale of the Improvements to be constructed shall not be significantly less than the scope and scale of the Improvements as detailed and outlined in the Plans. Company shall cause Plans to be provided for the Improvements, which shall be subject to approval by the City as provided in this Section. City shall approve the Plans in writing if: (a) the Plans conform to the terms and conditions of this Agreement; (b) the Plans conform to the terms and conditions of the Urban Renewal Plan; (c) the Plans conform to all applicable federal, state and local laws, ordinances, rules and regulations and City permit and design review requirements; (d) the Plans are adequate for purposes of this Agreement to provide for the construction of the Improvements, and (e) no Event of Default under the terms of this Agreement has occurred; provided, however, that any such approval of the Plans pursuant to this Section shall constitute approval for the purposes of this Agreement only and shall not be deemed to constitute approval or waiver by the City with respect to any building, fire, zoning or other ordinances or regulations of the City, and shall not be deemed to be sufficient plans to serve as the basis for the issuance of a building permit if the Plans 2 Page 235 of 557 are not as detailed or complete as the plans otherwise required for the issuance of a building permit. Approval of Plans hereunder shall not constitute approval for any other City purpose nor subject the City to any liability for the Improvements as constructed. The Plans must be rejected in writing by City within thirty (30) days of submission or shall be deemed to have been approved by the City. If City rejects the Plans in whole or in part, Company shall submit new or corrected Plans within thirty (30) days after receipt by Company of written notification of the rejection, accomplished by a written statement of the City specifying the respects in which Company's Plans fail to conform to the requirements of this Section. The provisions of this Section relating to approval, rejection and resubmission of corrected Plans shall continue to apply until the Plans have been approved by the City; provided, however, that in any event Company shall submit Plans which are approved by City prior to commencement of construction of the Improvements. Approval of the Plans by the City shall not relieve Company of any obligation to comply with the terms and provisions of this Agreement, or the provision of applicable federal, state and local laws, ordinances and regulations, nor shall approval of the Plans by City be deemed to constitute a waiver of any Event of Default. 3. Timeliness of Conveyance and Construction; Option to Repurchase. The parties agree that Company's commitment to undertake the Project and to construct the Improvements in a timely manner constitutes a material inducement for the City to sell and convey the Property to Company and that without said commitment City would not do so. 3.1. Deadlines to commence and complete. Subject to Unavoidable Delays (defined below), Company must obtain a building permit and begin construction on the Improvements by December 31, 2021 (the "Start Date") and must substantially complete construction by December 31, 2023 (the "Completion Deadline"). For purposes of this Agreement, substantial completion of construction shall be evidenced by issuance of an occupancy permit. 3.2. Option to Repurchase. At the time of transfer of the Property to the Company, the Company shall execute and deliver to the City a written Option to Repurchase (the "Option to Repurchase") the Property, pursuant to which Option to Repurchase, the City shall have the right to purchase the Property from the Company in the event the Company has not commenced construction of the improvements on the Property on or before June 30, 2022. The Option to Repurchase shall be in a mutually acceptable form and shall include provisions acceptable to the Company's lender. A memorandum of the Option to Repurchase shall be recorded in the office of the Recorder for Black Hawk County, Iowa. The Option to Repurchase shall provide that if construction of the improvements has not commenced by the Start Date or within any agreed period of extension and is stopped and/or delayed as a result of an act of God, war, civil disturbance, court order, labor dispute, fire, supply chain disruption or other cause beyond the reasonable control of Company (each such condition or event being an 3 Page 236 of 557 "Unavoidable Delay"), the right to repurchase the Property shall not accrue until the expiration of the period of time equal to the period of the Unavoidable Delay. 4. Option to Repurchase; Indemnity. In the event the City exercises the Option to Repurchase, Company agrees that it shall promptly execute all documents, including but not limited to a special warranty deed, or take such other actions as the City may reasonably request to effectuate the transfer of the Property to the City, free and clear of any lien, claim, charge, security interest, mortgage or encumbrance (collectively, "Liens") arising by or through Company, in exchange for the payment by the City of an amount equal to the Purchase Price. Concurrently with delivery of the deed, Company shall also deliver to City the abstract of title. Company shall pay in full, so as to discharge or satisfy, all Liens on or against the Property. 4.1. Appointment of Attorney in Fact. If Company fails to deliver such documents, including but not limited to a special warranty deed, to City within thirty (30) days of written demand by City, then City shall be authorized to execute, on Company's behalf and as its attomey-in-fact, the special warranty deed required by this Section, and for such limited purpose Company does hereby constitute and appoint City as its attorney-in-fact. 4.2. Indemnification. Company further agrees that it shall indemnify City and hold it harmless with respect to any demand, claim, cause of action, damage, or injury made, suffered, or incurred as a result of or in connection with the Project, Company's failure to carry on or complete same, or any Lien or Liens on or against the Property of any type or nature whatsoever that attaches to the Property by virtue of Company's ownership of same. If City files suit to enforce the terms of this Agreement or the Option to Purchase and prevails in such suit, then Company shall be liable for all legal expenses, including but not limited to reasonable attorneys' fees, incurred by City. Company's duties of indemnity pursuant to this Section shall survive the expiration, termination or cancellation of this Agreement for any reason. 5. No Encumbrances; Limited Exception. Until completion of the Improvements, Company agrees that it shall not create, incur, or suffer to exist any Liens on the Property, other than such mortgage or mortgages as may be reasonably necessary to pay the Purchase Price and finance Company's completion of the Improvements and of which Company notifies City before Company executes any such mortgage. Company may not mortgage the Property or any part thereof for any purpose except in connection with financing of the Purchase Price and the Improvements. 6. Utilities and Services. Company will be responsible for extending water, sewer, telephone, telecommunications, electricity, gas and other utility services to any location on the Property and for payment of any associated connection fees. 7. Additional City Assistance. The incentives described in the following subsections of this Section 7 are in addition to the other Project incentives extended by City to Company hereunder. 4 Page 237 of 557 7.1. Roadway. City will apply for funds under the State of Iowa RISE program for construction of a new street from Leversee Road extending eastward, to be called Hyper Drive, to serve the Property. City will complete design and construction of the new street and installation of related infrastructure by December 31, 2021. 7.2. Support for Applications. City agrees that it will cooperate in good faith with Company and, if necessary for program requirements, sponsor Company applications for available state tax credits and/or rebates, community college job training funds, and other available government funding, if Company chooses to make any such application(s). 7.3. Option to Sell. The parties acknowledge that upon completion of Improvements, the Property will be occupied by a third-party tenant, currently contemplated to be CPM Holdings Inc., or an affiliated entity ("CPM"). CPM or its affiliate currently own or occupy property at 2975 Airline Circle, Waterloo, Iowa (the "2975 Airline Property"). At the time of purchase of the Property, the City agrees to execute and deliver to CPM an Option to Sell (the "Option to Sell") the 2975 Airline Property to the City for an amount equal to its fair market value, as determined by an appraisal by an MAI appraiser acceptable to both CPM and the City, plus the cost of the appraisal (the "2975 Airline Sale Price"). Pursuant to the Option to Sell, CPM or any successor owner of the 2975 Airline Property shall have the right to exercise the Option to Sell within ninety (90) days after CPM has completed the transition of its operations and equipment to the Property, by delivery to the City of a written notice of exercise of the Option to Sell. Thereafter, the City shall purchase the 2975 Airline Property for the 2975 Airline Sale Price within sixty (60) days following the receipt by the City of the notice of exercise of the Option to Sell. The purchase shall be free and clear of (i) any mortgages or other liens or encumbrances created by CPM or its assignee, and (ii) any environmental conditions that significantly impair the use or value of the 2975 Airline Property. Prior to any such purchase and at any reasonable time, City, its agents and contractors, shall have access to the 2975 Airline Property for purposes of evaluation and environmental testing. Company shall obtain all permission from the owner of 2975 Airline Property for City's access for purposes of appraisal, evaluation and testing. If access by City, its agents or contractors, is denied or unduly restricted, City may terminate the obligation to purchase the 2975 Airline Property under the Option to Sell if reasonable access is not allowed within thirty (30) days of advance written notice to Company. 7.4. Progress Incentive Payment. Within thirty (30) days after Company has provided such documentation as City reasonably requires to substantiate that Company has expended no less than $2,000,000 in construction of Improvements on the Property as part of the Project, the City shall pay the Company the amount of one million, two hundred seventy thousand ($1,270.000.00) as an incentive payment based on the progress of the Project. 7.5. Option to Purchase Additional Land. City hereby grants to the Company, its successors and assigns, an option to purchase, for the sum of $1.00, up to an 5 Page 238 of 557 additional 10 acres of land abutting the Property to the extent necessary in connection with any project for a significant expansion of the Improvements. The option may be exercised by delivering written notice of exercise to the City no later than December 31, 2031. The option shall terminate upon the first to occur of January 1, 2032, or the termination of this Agreement prior to construction of the Improvements. If Company exercises the option, the parties shall negotiate the terms of a new development agreement or an amendment to this Agreement to address requirements related to the expansion project. Unless governed by the terms of such agreement or amendment, the provisions of Section 1 hereof shall govern the transfer of title. 8. Minimum Assessment Agreement. Company acknowledges and agrees that it, or its assign of according to Section 16.2, will pay when due all taxes and assessments, general or special, and all other charges whatsoever levied upon or assessed or placed against the Property. Company further agrees that prior to the date set forth in Section 2 of the Minimum Assessment Agreement (the "MAX) attached hereto as Exhibit"B" it will not seek or cause a reduction in the taxable valuation for the Property as improved pursuant to this Agreement, which shall be fixed for assessment purposes, below the amount of$8,000,000.00 (the "Minimum Actual Value"), through: (i) willful destruction of the Property, the Improvements, or any part of either; (ii) a request to the assessor of Black Hawk County; or (iii) any proceedings, whether administrative, legal, or equitable, with any administrative body or court within the City, Black Hawk County, the State of Iowa, or the federal government. Company agrees to execute and deliver the MAA concurrently with execution and delivery of this Agreement. 9. Property Tax Rebates. Provided that Company has completed the Improvements as set forth in this Agreement, City agrees to rebate property tax, subject to the exceptions and limitations otherwise set forth in this Agreement, as follows: Year One through Year Fifteen 50% rebate each year for any taxable value over the January 1, 2021 value of $0 (each such payment a "Rebate"). Each Rebate is payable in respect of a given property tax fiscal year (a "Fiscal Year") only to the extent that (i) Company, or its assign according to Section 16.2, has actually paid general property taxes due and owing for such Fiscal Year and (ii) the city council has made an appropriation for the payment of the Rebate. To receive a Rebate for a given Fiscal Year, Company must, within twelve (12) months after the due date of the last installment of the property taxes for the respective Fiscal Year (i.e., the "March Installment"), submit a completed Rebate request to City on the form provided by or otherwise satisfactory to City. A failure to timely submit a request for a Rebate for a Fiscal Year will result in a forfeiture of the right to request a Rebate 6 Page 239 of 557 for such Fiscal Year. The City agrees to consider a completed application for a Rebate within sixty (60) days after submission of the application to the City. The taxable value of the Property as a result of the Improvements must be increased by a minimum of 10% and must increase the annual tax by a minimum of $500.00. Rebates shall not be paid based on any special assessment levy, debt service levy, or any other levy that is exempted from treatment as tax increment financing under the provisions of applicable law. The first Fiscal Year of in which a Rebate may be given ("Year One") shall be the first full Fiscal Year for which the assessment is based upon the completed value of the Improvements and not based on a prior Fiscal Year for which the assessment is based solely upon (x) the value of the Property, or upon (y) the value of the Property and a partial value of the Improvements due to partial completion of such Improvements or a partial Fiscal Year. As an example of the above provision, in the event the Improvements on the Property are completed prior to January 1, 2023 and the Property and Improvements are assessed as fully completed based on the Plans, as may be revised, the property taxes that would be assessed based on the January 1, 2023 assessed value would be for the Fiscal Year ending June 30, 2024, with the taxes payable one-half by September 30, 2024 and one-half by March 31, 2025, then the first Rebate could be applied for after March 31, 2025 and prior to April 1, 2026. 10. Limitations on Payment of Rebates. 10.1. Each payment of a Rebate is subject to annual appropriation by the City Council each fiscal year. The City has no obligation to make any payments to Company as contemplated under this Agreement until the City Council annually appropriates the funds necessary to make such payments. The right of non-appropriation reserved to the City in this subsection 10.1 is intended by the parties, and shall be construed at all times, so as to ensure that the City's obligation to make future payments of Rebates shall not constitute a legal indebtedness of the City within the meaning of any applicable constitutional or statutory debt limitation prior to the adoption of a budget which appropriates funds for the payment of that installment or amount. In the event that any of the provisions of this Agreement are determined by a court of competent jurisdiction or by the City's bond counsel to create, or result in the creation of, such a legal indebtedness of the City, the enforcement of the said provision shall be suspended, and the Agreement shall at all times be construed and applied in such a manner as will preserve the foregoing intent of the parties, and no Event of Default by the City shall be deemed to have occurred as a result thereof. If any provision of this Agreement or the application thereof to any circumstance is so suspended, the suspension shall not affect other provisions of this Agreement which can be given effect without the suspended provision. To this end the provisions of this Agreement are severable. 10.2. Notwithstanding the provisions of Section 9 hereof, the City shall have no obligation to make a payment of a Rebate to Company if at any time during the term hereof the City fails to appropriate funds for payment; the City receives an opinion from its legal counsel to the effect that the use of Tax Increments resulting from the 7 Page 240 of 557 Development Property and Minimum Improvements to fund a Rebate payment to Company, as contemplated under Section 9 above, is not, based on a change in applicable law or its interpretation since the date of this Agreement, authorized or otherwise an appropriate urban renewal activity permitted to be undertaken by the City under the Urban Renewal Act or other applicable provisions of the Code, as then constituted or under controlling decision of any Iowa Court having jurisdiction over the subject matter hereof, or the City's ability to collect Tax Increment from the Minimum Improvements and Development Property is precluded or terminated by legislative changes to Iowa Code Chapter 403. Upon occurrence of any of the foregoing circumstances, the City shall promptly forward notice of the same to Company. If the circumstances continue for a period during which two (2) annual Rebate payments would otherwise have been paid to Company under the terms of Section 9, the City may terminate this Agreement, without penalty or other liability to the City, by written notice to Company. 10.3. For purposes of this Agreement, "Tax Increments" shall mean the property tax revenues on the Improvements and Property received by and made available to the City for deposit in an account maintained under this Agreement, the provisions of Section 403.19 of the Code and the ordinance governing the Urban Renewal Plan. 11. Additional Covenants of Company. In addition to the other promises, covenants and agreements of Company as provided elsewhere in this Agreement, Company agrees as follows: 11.1. Company agrees during construction of the Improvements and thereafter until the MAA termination date to maintain, as applicable, builder's risk, property damage, and liability insurance coverages with respect to the Improvements in such amounts as are customarily carried by like organizations engaged in activities of comparable size and liability exposure, and shall provide evidence of such coverages to the City upon request. 11.2. Until substantial completion of the Improvements, Company shall make such reports to City, in such detail and at such times as may be reasonably requested by City, as to the actual progress of Company with respect to construction of the Improvements. 11.3. Company will cooperate fully with the City in resolution of any traffic, parking, trash removal or public safety problems which may arise in connection with the construction and operation of the Improvements. 11.4. Company will comply with all applicable land development laws and City and county ordinances, and all laws, rules and regulations relating to its businesses, other than laws, rules and regulations where the failure to comply with the same or the sanctions and penalties resulting therefrom, would not have a material adverse effect on the business, property, operations, or condition, financial or otherwise, of Company. 8 Page 241 of 557 11.5. The Property will have a taxable value as set forth in the MAA and any amendments thereto, and Company agrees that the minimum actual value of the Property and completed Improvements as stated in the MAA and any amendments thereto will be a reasonable estimate of the actual value of the Property and Improvements for ad valorem property tax purposes. Company agrees that it will spend enough in construction of the Improvements that, when combined with the value of the Property and related site improvements, will equal or exceed the assessor's minimum actual value for the Property and Improvements as set forth in the MAA and any amendments thereto. 11.6. Until termination of the MAA, Company will maintain, preserve and keep the Property, including but not limited to the Improvements, in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals and additions. 11.7. During the period that any rebate is payable to Company under this Agreement, Company agrees that (1) it will not undertake, in any other municipality in Black Hawk County, the construction or rehabilitation of any commercial property as a primary location for the business operations of the type to be conducted on the Property by Company, and (2) it will make no conveyance, lease or other transfer of the Property or any interest therein that would cause the Property or any part thereof to be classified as exempt from taxation or subject to centralized assessment or taxation by the State of Iowa. 11.8. Company shall pay, or cause to be paid, when due, all real property taxes and assessments payable with respect to any and all parts of the Property. Company agrees that (1) it will not seek administrative review or judicial review of the applicability or constitutionality of any Iowa tax statute or regulation relating to the taxation of real property included within the Property that is determined by any tax official to be applicable to the Property or to Company, or raise the inapplicability or constitutionality of any such tax statute or regulation as a defense in any proceedings of any type or nature, including but not limited to delinquent tax proceedings, and (2) it will not seek any tax deferral, credit or abatement, either presently or prospectively authorized under Iowa Code Chapter 403 or 404, or any other state law, of the taxation of real property included within the Property. 12. Representations and Warranties of City. City hereby represents and warrants as follows: 12.1. City is not prohibited from consummating the transaction contemplated in this Agreement by any law, regulation, agreement, instrument, restriction, order or judgment. 12.2. Each person who executes and delivers this Agreement and all documents to be delivered hereunder is and shall be authorized to do so on behalf of City. 9 Page 242 of 557 13. Representations and Warranties of Company. Company hereby represents and warrants as follows: 13.1. Company is not prohibited from consummating the transaction contemplated in this Agreement by any law, regulation, agreement, instrument, restriction, order or judgment. 13.2. Company is duly organized, validly existing, and in good standing under the laws of the state of its organization and is duly qualified and in good standing under the laws of the State of Iowa. 13.3. Company has full right, title, and authority to execute and perform this Agreement and to consummate all of the transactions contemplated herein, and each person who executes and delivers this Agreement and all documents to be delivered to City hereunder is and shall be authorized to do so on behalf of Company. 13.4. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and the fulfillment of or compliance with the terms and conditions of this Agreement are not prevented by, limited by, in conflict with, or result in a violation or breach of, the terms, conditions or provisions of the articles of organization or bylaws of Company or of any contractual restriction, evidence of indebtedness, agreement or instrument of whatever nature to which Company is now a party or by which it or its property is bound, nor do they constitute a default under any of the foregoing. 13.5. Assuming due authorization, execution and delivery by the other parties hereto, this Agreement is in full force and effect and is a valid and legally binding instrument of Company that is enforceable in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting creditors' rights generally. 13.6. There are no actions, suits or proceedings pending or threatened against or affecting Company in any court or before any arbitrator or before or by any governmental body in which there is a reasonable possibility of an adverse decision which could materially adversely affect the business (present or prospective), financial position, or results of operations of Company or which in any manner raises any questions affecting the validity of the Agreement or Company's ability to perform its obligations under this Agreement. 14. Indemnification and Releases. 14.1. Company hereby releases City, its elected officials, officers, employees, and agents (collectively, the "indemnified parties") from, covenants and agrees that the indemnified parties shall not be liable for, and agrees to indemnify, defend and hold harmless the indemnified parties against, any loss or damage to property or any injury to or death of any person occurring at or about the Property or resulting from any defect in the Improvements. The indemnified parties shall not be liable for any damage or 10 Page 243 of 557 injury to the persons or property of Company or its directors, officers, employees, contractors or agents, or any other person who may be about the Property or the Improvements, due to any act of negligence or willful misconduct of any person, other than any act of negligence or willful misconduct on the part of any such indemnified party or its officers, employees or agents. 14.2. Except for any willful misrepresentation, any willful misconduct, or any unlawful act of the indemnified parties, Company agrees to protect and defend the indemnified parties, now or forever, and further agrees to hold the indemnified parties harmless, from any claim, demand, suit, action or other proceedings or any type or nature whatsoever by any person or entity whatsoever that arises or purportedly arises from (1) any violation of any agreement or condition of this Agreement (except with respect to any suit, action, demand or other proceeding brought by Company against the City to enforce its rights under this Agreement), or (2) the acquisition and condition of the Property and the construction, installation, ownership, and operation of the Improvements, or (3) any hazardous substance or environmental contamination located in or on the Property, but only to the extent such liability has not been previously transferred to and accepted by the City in writing. 14.3. The provisions of this Section shall survive the expiration or termination of this Agreement. 15. Obligations Contingent. Each and every obligation of City under this Agreement is expressly made subject to and contingent upon City's completion of all procedures, hearings and approvals deemed necessary by City or its legal counsel for amendment of the urban renewal plan applicable to the Property and/or project area, all of which must be completed within 180 days from the date this Agreement is approved by the City council. If such completion does not occur, then any conveyance, benefit or incentive of any type provided by City hereunder within said 180-day period is subject to reverter of title, revocation, repayment or other appropriate action to restore such property, benefit or incentive to City, and Company agrees to cooperate diligently and in good faith with any reasonable request by City to effectuate the restoration of same, or failing such restoration Company agrees to be liable for same or for the fair value thereof, plus interest on any sums owing at the rate of 5% per annum commencing with the date of demand for payment, if said payment is not remitted to City within 30 days. 16. No Assignment or Conveyance. 16.1. Company agrees that it will not sell, convey, assign or otherwise transfer its interest in the Property or this Agreement prior to completion of the Project, whether in whole or in part, to any other person or entity without the prior written consent of City. Notwithstanding the preceding sentence, the Company shall be permitted to assign all of the member interest in the Company to any lender or guarantor of the Company's debt, St. Martin Land Company or a wholly owned subsidiary of St. Martin Land Company prior to completion of the Project without any consent of the City (other than this provision). Reasonable grounds for the City to withhold its consent shall include but are not limited to the inability of the proposed transferee to demonstrate to the City's 11 Page 244 of 557 satisfaction that it has the financial ability to observe all of the terms to be performed by Company under this Agreement. 16.2. Company shall have the right to assign the right to apply for and receive a Rebate under this Agreement for one or more years to (i) a tenant of the Property, (ii) a lender to Company and/or (iii) a purchaser of the Property. In the event of any such assignment, Company shall provide the City with written notice of such assignment. 17. Default. The following shall be "Events of Default" under this Agreement, and the term "Event of Default' shall mean any one or more of the following events that continues beyond any applicable cure periods: 17.1. Failure by Company to cause the construction of the Improvements to be commenced and completed pursuant to the terms, conditions and limitations of this Agreement; 17.2. Transfer by Company of any interest (either directly or indirectly) in the Improvements, the Property, or this Agreement, without the prior written consent of City, except as permitted in Section 16 above; 17.3. Failure by Company to pay, before delinquency, all ad valorem property taxes levied on or against the Property; 17.4. Failure by any party hereto to substantially observe or perform any covenant, condition, obligation or agreement on its part to be observed or performed under this Agreement or an MAA; 17.5. Company (1) files any petition in bankruptcy or for any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the federal bankruptcy law or any similar state law; (2) makes an assignment for the benefit of its creditors; (3) admits in writing its inability to pay its debts generally as they become due; (4) is adjudicated a bankrupt or insolvent; or if a petition or answer proposing the adjudication of Company as a bankrupt or its reorganization under any present or future federal bankruptcy act or any similar federal or state law shall be filed in any court and such petition or answer shall not be discharged or denied within ninety (90) days after the filing thereof; or a receiver, trustee or liquidator of Company, or part thereof, shall be appointed in any proceedings brought against Company and shall not be discharged within ninety (90) days after such appointment, or if Company shall consent to or acquiesce in such appointment; or (5) defaults under any mortgage applicable to any of Project Property. 17.6. Any representation or warranty made by Company in this Agreement, or made by Company in any written statement or certificate furnished by Company pursuant to this Agreement, shall prove to have been incorrect, incomplete or misleading in any material respect on or as of the date of the issuance or making thereof. 12 Page 245 of 557 18. Remedies. 18.1. Default by Company. Whenever any Event of Default in respect of Company occurs and is continuing, the City may terminate this Agreement. Before exercising such remedy, City shall give 30 days' written notice to Company of the Event of Default, provided that by the conclusion of such period the Event of Default shall not have been cured, or the Event of Default cannot reasonably be cured within 30 days and Company shall not have provided assurances reasonably satisfactory to the City that the Event of Default will be cured as soon as reasonably possible. Upon termination, City may exercise any and all remedies available at law, equity, contract or otherwise for recovery of any sums paid by City to Company before the date of termination or to recover ownership of the Property as set forth in this Agreement. 18.2. Default by City. Whenever any Event of Default in respect of Company occurs and is continuing, Company may take such action against City to require it to specifically perform its obligations hereunder. Before exercising such remedy, Company shall give 30 days' written notice to City of the Event of Default, provided that by the conclusion of such period the Event of Default shall not have been cured, or if the Event of Default cannot reasonably be cured within 30 days and City shall not have provided assurances reasonably satisfactory to the Company that the Event of Default will be cured as soon as reasonably possible. 18.3. Remedies under this Agreement shall be cumulative and in addition to any other right or remedy given under this Agreement or existing at law or in equity or by statute. Waiver as to any particular default, or delay or omission in exercising any right or power accruing upon any default, shall not be construed as a waiver of any other or any subsequent default and shall not impair any such right or power. 19. Materiality of Company's Promises, Covenants, Representations, and Warranties. Each and every promise, covenant, representation, and warranty set forth in this Agreement on the part of Company to be performed is a material term of this Agreement, and each and every such promise, covenant, representation, and warranty constitutes a material inducement for City to enter this Agreement. Company acknowledges that without such promises, covenants, representations, and warranties, City would not have entered this Agreement. Upon breach of any promise or covenant, or in the event of the incorrectness or falsity of any representation or warranty, City may, at its sole option and in addition to any other right or remedy available to it, terminate this Agreement and declare it null and void. 20. Performance by City. Company acknowledges and agrees that all of the obligations of City under this Agreement shall be subject to, and performed by City in accordance with, all applicable statutory, common law or constitutional provisions and procedures consistent with City's lawful authority. All covenants, stipulations, promises, agreements and obligations of City contained in this Agreement shall be deemed to be the covenants, stipulations, promises, agreements and obligations of City and not of any governing body member, officer, employee or agent of City in the individual capacity of such person. 13 Page 246 of 557 21. No Third-Party Beneficiaries. Except as provided in Section 16 above, no rights or privileges of any party hereto shall inure to the benefit of any contractor, subcontractor, material supplier, or any other person or entity, and no such contractor, subcontractor, material supplier, or other person or entity shall be deemed to be a third- party beneficiary of any of the provisions of this Agreement. 22. Notices. Any notice under this Agreement shall be in writing and shall be delivered in person, by overnight air courier service, by United States registered or certified mail, postage prepaid, or by facsimile (with an additional copy delivered by one of the foregoing means), and addressed: (a) if to City, at 715 Mulberry Street, Waterloo, Iowa 50703, facsimile number 319-291-4571, Attention: Mayor, with copies to the City Attorney and the Community Planning and Development Director. (b) if to Company, at 115 3rd St. SE, #806, Cedar Rapids, IA 52401, email nick.taiber@stmartinholdings.com, Attention: President, with copies to kwebster@stmartinholdings.com. Delivery of notice shall be deemed to occur (i) on the date of delivery when delivered in person, (ii) one (1) business day following deposit for overnight delivery to an overnight air courier service which guarantees next day delivery, (iii) three (3) business days following the date of deposit if mailed by United States registered or certified mail, postage prepaid, or (iv) when transmitted by facsimile so long as the sender obtains written electronic confirmation from the sending facsimile machine that such transmission was successful. A party may change the address for giving notice by any method set forth in this Section. 23. No Joint Venture. Nothing in this Agreement shall, or shall be deemed or construed to, create or constitute any joint venture, partnership, agency, employment, or any other relationship between the City and Company nor to create any liability for one party with respect to the liabilities or obligations of the other party or any other person. 24. Amendment, Modification, and Waiver. No amendment, modification, or waiver of any condition, provision, or term of this Agreement shall be valid or of any effect unless made in writing, signed by the party or parties to be bound or by the duly authorized representative of same, and specifying with particularity the extent and nature of the amendment, modification, or waiver. Any waiver by any party of any default by another party shall not affect or impair any rights arising from any subsequent default. 25. Severability; Reformation. Each provision, section, sentence, clause, phrase, and word of this Agreement is intended to be severable. If any portion of this Agreement shall be deemed invalid or unenforceable, whether in whole or in part, the offending provision or part thereof shall be deemed severed from this Agreement and the remaining provisions of this Agreement shall not be affected thereby and shall 14 Page 247 of 557 continue in full force and effect. If, for any reason, a court finds that any portion of this Agreement is invalid or unenforceable as written, but that by limiting such provision or portion thereof it would become valid and enforceable, then such provision or portion thereof shall be deemed to be written, and shall be construed and enforced, as so limited. 26. Captions. All captions, headings, or titles in the paragraphs or sections of this Agreement are inserted only as a matter of convenience and/or reference, and they shall in no way be construed as limiting, extending, or describing either the scope or intent of this Agreement or of any provisions hereof. 27. Binding Effect. This Agreement shall be binding and shall inure to the benefit of the parties and their respective successors, assigns, and legal representatives. 28. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute one and the same instrument. 29. Entire Agreement. This Agreement, together with the exhibits attached hereto, constitutes the entire agreement of the parties and supersedes all prior or contemporaneous negotiations, discussions, understandings, or agreements, whether oral or written, with respect to the subject matter hereof. 30. Time of Essence. Time is of the essence of this Agreement. IN WITNESS WHEREOF, the parties have executed this Development Agreement by their duly authorized representatives as of the date first set forth above. [signatures on next page] 15 Page 248 of 557 CITY OF WATERLOO, IOWA ZYDECO INVEST NTS, LLC By: By: Quentin M. Hart, Mayor Nicholas Taber, Manager Attest: Kelley Felchle, City Clerk 15 Page 249 of 557 EXHIBIT "A" Legal Description of Property [aaa—to be determined] Page 250 of 557 EXHIBIT "B" MINIMUM ASSESSMENT AGREEMENT This Minimum Assessment Agreement (the "Agreement") is entered into as of November , 2021, by and among the CITY OF WATERLOO, IOWA ("City"), ZYDECO INVESTMENTS, LLC ("Company"), and the COUNTY ASSESSOR of the City of Waterloo, Iowa ("Assessor"). WITNESSETH: WHEREAS, on or before the date hereof the City and Company have entered into a development agreement (the "Development Agreement") regarding certain real property, described in Exhibit"A" thereto, located in the City; and WHEREAS, it is contemplated that pursuant to the Development Agreement, the Company will undertake the development of an area ("Project") within the City and within the East Waterloo Unified Urban Renewal and Redevelopment Plan Area, formerly known as the Airport Area Development Plan Area; and WHEREAS, pursuant to Iowa Code § 403.6, as amended, the City and the Company desire to establish a minimum actual value for the land and the building(s) pursuant to this Agreement and applicable only to the Project, which shall be effective upon substantial completion of the Project and from then until this Agreement is terminated pursuant to the terms herein and which is intended to reflect the minimum actual value of the land and buildings as to the Project only; and WHEREAS, the City and the Assessor have reviewed the preliminary plans and specifications for the improvements (the "Improvements") which the parties contemplate will be erected as a part of the Project. NOW, THEREFORE, the parties hereto, in consideration of the promises, covenants, and agreements made by each other, do hereby agree as follows: 1. Upon substantial completion of construction of the Improvements by the Company, the minimum actual taxable value which shall be fixed for assessment purposes for the land and Improvements to be constructed thereon by the Company as a part of the Project shall not be less than $8,000,000.00 (the "Minimum Actual Value") until termination of this Agreement. The parties hereto agree that construction of the Improvements will be substantially completed on or before the Completion Deadline stated in the Development Agreement. If it is not completed within the same calendar year as the Completion Deadline, then the parties agree to execute an amendment to this Agreement that will extend the dates specified in Section 2 below. 2. The Minimum Actual Value herein established shall be of no further force and effect, and this Minimum Assessment Agreement shall terminate, on December 31, 2042. Nothing herein shall be deemed to waive the Company's rights under Iowa Code Page 251 of 557 § 453.6, as amended, to contest that portion of any actual value assignment made by the Assessor in excess of the Minimum Actual Value established herein. In no event, however, shall the Company seek or cause the reduction of the actual value assigned below the Minimum Actual Value established herein during the term of this Agreement. Nothing herein shall limit the discretion of the Assessor to assign at any time an actual value to the land and Improvements in excess of the Minimum Actual Value. 3. Company agrees that it will not seek administrative review or judicial review of the applicability or constitutionality of any Iowa tax statute or regulation relating to the taxation of real property included within the Property that is determined by any tax official to be applicable to the Property or to Company, or raise the inapplicability or constitutionality of any such tax statute or regulation as a defense in any proceedings. 4. This Agreement shall be promptly recorded by the City with the Recorder of Black Hawk County, Iowa. The City shall pay all costs of recording. 5. Neither the preambles nor provisions of this Agreement are intended to, or shall be construed as, modifying the terms of the Development Agreement. 6. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties, including but not limited to future owners of the Project property. IN WITNESS WHEREOF, the parties have executed this Minimum Assessment Agreement by their duly authorized representatives as of the date 'first set forth above. CITY OF WATERLOO, IOWA ZYDECO INVESTMENTS, LLC By: By: Quentin M. Hart, Mayor Nicholas Taiber, Manager - By: Kelley Felchle, City Clerk 2 Page 252 of 557 STATE OF IOWA } ) ss. COUNTY OF BLACK HAWK ) On this day of , 2021, before me, a Notary Public in and for the State of Iowa, personally appeared Quentin M. Hart and Kelley Felchle, to me personally known, who being duly sworn, did say that they are the Mayor and City Clerk, respectively, of the City of Waterloo, Iowa, a municipal corporation, created and existing under the laws of the State of Iowa, and that the seal affixed to the foregoing instrument is the seal of said municipal corporation, and that said instrument was signed and sealed on behalf of said municipal corporation by authority and resolution of its City Council, and said Mayor and City Clerk acknowledged said instrument to be the free act and deed of said municipal corporation by it and by them voluntarily executed. Notary Public STATE OF IOWA ) ss. COUNTY OF BLACK HAWK ) n 1r f1 Subscribed and sworn to before me on ) -'.r LL 2021, by Nicholas Taiber as Manager of Zydeco Investments, LLC. MARIAH GILLILAND -ommiss+on Number 831 375 a � t t L&Y My commission Expires N a Public Apr;! 15, 2024 rY 3 Page 253 of 557 CERTIFICATION OF ASSESSOR The undersigned, having reviewed the plans and specifications for the improvements to be constructed and the market value assigned to the land upon which the improvements are to be constructed for the development, and being of the opinion that the minimum market value contained in the foregoing Minimum Assessment Agreement appears reasonable, hereby certifies as follows: The undersigned Assessor, being legally responsible for the assessment of the property subject to the development, upon completion of improvements to be made on it and in accordance with the Minimum Assessment Agreement, certifies that the actual value assigned to such land, building and equipment upon completion of the development shall not be less than Eight Million Dollars ($8,000,000.00) until termination of this Minimum Assessment Agreement pursuant to the terms hereof. Assessor for Black Hawk County, Iowa Date STATE OF IOWA } ) ss. COUNTY OF BLACK HAWK ) Subscribed and sworn to before me on by T.J. Koenigsfeld, Assessor for Black Hawk County, Iowa. Notary Public Page 254 of 557 FUME ADDITION k L k + M 37,5W$F , - - --- ---- ----- PHASE -- ----PHASE 0 ' REST�C►nER� ' �- ----- --- - -- - Lu NTUMI PARIWG I < �I 0 PHASE 1 0 Pi ' 1+ PHASE 1 m � { 14022,23?SF ,fs25 !' Uj LU � _ 50c.3 12• " �10 r � l I Q 'I a - u .I r 4 KAANUF.f WAREHOUSE I wFuRE PXRIL4G awk _ f ,moi �"• {•�.` f I { Page 255 of 557 0 4 • ' ' WARP DRIVE I f LONE TREE ROAD ' +" r' EXTENSION ° I y. k AR C H I T I C T U R I P.0.13-1240 Cedar Falls,IA 50613 319.277.5636 319.277.5639 fax leviarchitecture.com ©Copyright 2021 Drawings&specifications,ideas, F I k \•\ dare ran &sholl Tremain the property nofd the architect&no part shall be copied or disclosed to others or •'� �. used in connection with any work or -I project other than the specified project for whithey have been 1 ;[X.:.: w c `v • ,' •,i he written consent oprepared chhe architect.Visual contact with •'.\ these drawings&specifications shall constitute conclusive evidence of acceptance of these restrictions. ' •�.E'* Y. - Yt41 I •I� •�• Tom,• I m,r� I I �101'v I ; •. I . I r I 9.96 ACRES +I I (434,000 SF) I . I — - c 71 PROPOSED 000 SEDITION i \ ` I I 80'X250' S# >1 80'X250' 20 ACRES I -1- fi_rt- (871 ,200 SF) E 0 � - • � • V a� 120,OOOS - =3 to 480'X250' ® PROPOSED –– – I J L) _ ADDITION _ >� _ 10,000 SF 80'X125' x—x O I - - - - •• _ L O mrn T .. I • a W W I� V) � � cn l u u ISI y k • x x A1 ,00 _. I-� - - - - - - - - - r Date: Sff PLAN - -- - - - - - -- -- - - April1 , 021 A;�' - _ NS200'-0" I}�+ xp. ..•^A w E LAKE STEET — c c l e: 1n = 2 0 0y-0yy r lel 255 Of 557 (FUTURE EXTENSION) St. Martin Land Company Manufacturing Development MidPort America Business Park Waterloo) Iowa NORTH ELEVATION SOUTH ELEVATION EAST ELEVATION SIGNAGE ---- ------------------------- -- - WEST ELEVATION Page 257 of 557 ha CH 111 CTURI St. Martin Land Company ManufacturingDevelopment MidPort America Business Park Waterloo) Iowa CORRUGATED MTL.PANELS,TYP. PREFIN.SHT. MTL.COPING,TYP. PEMB PANELS,TYP T.O.WALL +32'-011 - - - LL - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - --- --------------------------------------- -------- --- ------- ------------------------------------------ -- +23'0" - ----- -------------------------------------- WALL ---------__---------------- _--___--WALL N A- o; - - - ACM PANELS,TYP. --- - - - - - ------ --- MA-UIN F +0' " LOOR LOOK IL - BLACK ANODIZED STOREFRONT BLACK ANODIZED ALUM. DOOR& BLACK ANODIZED ALUM. ACM PANELS,TYP. PRECAST PANELS,TYP. ACM PANELS,TYP. FRAMING&THERMAL GLAZING,TYP. STOREFRONT FRAMING,TYP. WINDOW FRAMING& THERMAL GLAZING,TYP. WEST ELEVATION LV 'I L Page 258 of 557 ARCHITICTURI St. Martin Land Company ManufacturingDevelopment MidPort America Business Park Waterloo) Iowa - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - T.O.WALL_ PREFIN.SHT.MTL. PEMB PANELS,TYP. PRECAST PANELS,TYP. CORRUGATED MTL. PANELS,TYP. ACM PANELS,TYP. COPING,TYP. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - T.O.WALL ------------ - - - - - - - - - - - - +23' --- - ---- - - -- -- -- -- - T.O.WALL _ ACM PANELS,TYP. BLACK ANODIZED 71r 7 1STOREFRONT FRAMING& THERMAL GLAZING,TYP. - - MAIN FLOOR BLACK ANODIZED ALUM.DOOR& STOREFRONT FRAMING,TYP. NORTH ELEVATION LV 'I L Page 259 of 557 AR CH 111 CTURI St. Martin Land Company ManufacturingDevelopment MidPort America Business Park Waterloo) Iowa :M ALL +32-0"--------------------------------------------------- ---------- - PREFIN.SHT. MTL.COPING,TYP. PRECAST PANELS,TYP. ACM PANELS,TYP. PREFIN.SHT.MTL.COPING,TYP. PEMB PANELS,TYP. V+2 T.O.WALL 3'-0"-------------------------- -- --------------- ----------------------- ---- --- - ------------------------ - - ---- . ---------------------- T.O.WALL ---------------------------- ---L ----- - 22'-0" - - CORRUGATED MTL.PANELS,TYP. - - - - ACM PANELS,TYP. BLACK ANODIZED STOREFRONT FRAMING W/ THERMAL GLAZING,TYP. MAIN FLOOR BLACK ANODIZED ALUM. DOOR& STOREFRONT FRAMING,TYP. SOUTH ELEVATION LV 'I L Page 260 of 557 ARI[flITICTURI CITY OF WATERLOO Council Communication Resolution approving construction plans for paving, sanitary sewer, and storm sewer serving the Borwig Addition, as submitted by the City of Waterloo, Sewage Treatment Agreement, DNR Form 29 (Nov 00)with the Department of Natural Resources, and final acceptance of construction plans subject to the review and acceptance by the Department of Natural Resources, and authorizing the Mayor to execute said documents. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 Resolution approving construction plans for paving, sanitary sewer, and storm sewer serving the Borwig Addition, as submitted by the City of SUBJECT: Waterloo, Sewage Treatment Agreement, DNR Form 29 (Nov 00)with the Department of Natural Resources, and final acceptance of construction plans subject to the review and acceptance by the Department of Natural Resources, and authorizingthe e Mayor to execute said documents. Submitted by: Submitted By: Jamie Knutson, PE, City Engineer These construction plans have been reviewed by the Engineering Department. They appear to meet current design standards and Summary Statement: specifications, therefore they are recommended for approval by the City Council. Neighborhood Impact: Page 261 of 557 CITY OF WATERLOO Council Communication Resolution approving 2022 Recreation Program and SportsPlex Membership fee schedule. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 ATTACHMENTS: Description Type ❑ Proposed Fees Rec Programs and SportsPlex Backup Material SUBJECT: Resolution approving 2022 Recreation Program and SportsPlex Membership fee schedule. Submitted by: Submitted By: Mark Gallagher, Recreation Superintendent Recommended Action: Pending approval by Leisure Services Commission at 11-9-21 meeting. The attached rate proposal is for Recreation Fees and Cedar Valley SportsPlex Membership Rates. These fee increases will help assist in Summary Statement: covering increased expenses due in large part to increases in part time pay rates to staff programs and facilities. These increases were delayed due to effects of the pandemic. Page 262 of 557 CURRENT MEMBERSHIP STRUCTURE PROPOSED MEMBERSHIP STRUCTURE MONTHLY BASE FEE TAX MONTHLY BASE FEE TAX ADULT $50.29 $47.00 $3.29 ADULT $53.50 $50.00 $3.50 ADULT PLUS ADULT PLUS *MEMB+CLUB LOCKER N/A N/A N/A *MEMB+CLUB LOCKER $67.41 $63.00 $4.41 YOUTH $26.75 $25.00 $1.75 YOUTH $29.96 $28.00 $1.96 COLLEGE $32.10 $30.00 $2.10 COLLEGE $35.31 $33.00 $2.31 SENIOR $26.75 $25.00 $1.75 SENIOR $29.96 $28.00 $1.96 FAM I LY $75.97 $71.00 $4.97 FAM I LY $80.25 $75.00 $5.25 FAMILY PLUS FAMILY PLUS *MEMB+CHILD CARE N/A N/A N/A *MEMB+CHILD CARE $87.74 $82.00 $5.74 SENIOR COUPLE $48.15 $45.00 $3.15 SENIOR COUPLE $51.36 $48.00 $3.36 COUPLE $69.55 $65.00 $4.55 COUPLE $69.55 $65.00 $4.55 CLUB LOCKER $26.75 $25.00 $1.75 CLUB LOCKER $26.75 $25.00 $1.75 CHILD CARE $16.05 $15.00 $1.05 CHILD CARE $16.05 $15.00 $1.05 ANNUAL BASE FEE TAX ANNUAL BASE FEE TAX ADULT $594.92 $556.00 $38.92 ADULT $588.50 $550.00 $38.50 ADULT PLUS ADULT PLUS *MEMB+CLUB LOCKER N/A N/A N/A *MEMB+CLUB LOCKER $770.40 $720.00 $50.40 YOUTH $298.53 $279.00 $19.53 YOUTH $329.56 $308.00 $21.56 COLLEGE $371.29 $347.00 $24.29 COLLEGE $388.41 $363.00 $25.41 SENIOR $298.53 $279.00 $19.53 SENIOR $329.56 $308.00 $21.56 FAM I LY $893.45 $835.00 $58.45 FAM I LY $882.75 $825.00 $57.75 FAMILY PLUS FAMILY PLUS *MEMB+CHILD CARE N/A N/A N/A *MEMB+CHILD CARE $963.00 $900.00 $63.00 SENIOR COUPLE $556.40 $520.00 $36.40 SENIOR COUPLE $564.96 $528.00 $36.96 COUPLE $808.92 $756.00 $52.92 COUPLE $765.05 $715.00 $50.05 CLUB LOCKER $321.00 $300.00 $21.00 CLUB LOCKER $321.00 $300.00 $21.00 CHILD CARE $192.60 $180.00 $12.60 CHILD CARE $192.60 $180.00 $12.60 Page 263 of 557 2022 SPORTS&AQUATICS PROPOSED RATES TO GO INTO EFFECT FEBRUARY 1,2022 CURRENT RATE 2022 PROPOSED RATE Flag Clinic $27.00 $35.00 Flag Football $45.00 $50.00 Adult Vollebyall Fall/Spring $87 +Tax $95 +Tax TKO Winter/Spring $75.00 $75.00 Fall Soccer $35.00 $40.00 Youth Basketball 1st- 3rd 2 sessions $33.00 $40.00 Youth Basketball 3rd &4th Boys 2 sessions $37.00 $45.00 Youth Basketball 4th - 6th Girls 5th & 6th Boys $47.00 $50.00 Basketball Clinic $27.00 $35.00 Spring Soccer $35.00 $40.00 USSSA League $395/Team +Tax $395/Team +Tax T-Ball Spring/Summer $32.00 $35.00 A Ball 2 sessions $32.00 $35.00 Mayor's More Than Basketball League $20.00 $20.00 Optimist ML $65.00 $70.00 Optimist AAA $60.00 $65.00 Optimist AA $60.00 $65.00 Summer Soccer $35.00 $40.00 Tennis Quick Start $37.00 $40.00 Tennis NJTL $52.00 $60.00 Tennis Junior Team $57.00 $65.00 Tennis Tournament Group $57.00 $65.00 Youth Swim Lessons $37.00 $45.00 Preschool Lessons $35.00 $40.00 Toddler/Infant Lessons $25.00 $30.00 Individual Season Pass $44+tax $44+tax Senior Season Pass $10+tax $10+tax Family Season Pass $99+tax $99 +tax Family Season Pass-Additional Member $10.00 $10.00 Page 264 of 557 CITY OF WATERLOO Council Communication Resolution approving the City of Waterloo Municipal Golf Rate fee schedule for the 2022 season. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 ATTACHMENTS: Description Type ❑ Proposed 2022 Golf Rates Backup Material SUBJECT: Resolution approving the City of Waterloo Municipal Golf Rate fee schedule for the 2022 season. Submitted by: Submitted By: JB Bolger,Assistant Park Superintendent Recommended Action: Approve rates as proposed in the attached spreadsheet. Pending approval by the Leisure Services Commission at 11-9-21 meeting. Daily fee rates were last adjusted for the 2017 season. Season ticket prices were increased for the 2021 season. No increases are Summary Statement: included in this proposal for season tickets. This proposal includes the creation of the College Mini Season ticket at a cost of$150. This would be used for official team members of the Hawkeye Community College Golf Team. Page 265 of 557 WATERLOO LEISURE SERVICES PROPOSED 2022 GOLF RATES 2021 2022 Proposed Daily Fee Adult 23.00 24.00 9 Hole 16.00 17.00 2nd Nine 7.00 7.00 Junior 10.00 10.00 Senior 22.00 23.00 Young Adult 20.00 21 .00 MTW Tee off Before 1 :00 25.00 27.00 6pm to Sunset 25.00 29.00 October Weekday 16.00 17.00 Winter Rate 10.00 11 .00 18 Hole Punch 210.00 220.00 9 Hole Punch 150.00 160.00 New for 2022- College Mini Season Ticket 150.00 This pass is only for members of Hawkeye Golf Team for in-season play only. Page 266 of 557 CITY OF WATERLOO Council Communication Resolution approving a Professional Services Agreement with Ritland+Kuiper Landscape Architects, in an amount not to exceed $52,700, to complete the Gates Park Master Plan Update, and authorizing the Mayor to execute said document. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 ATTACHMENTS: Description Type ❑ Agreement Gates Park MP Backup Material Resolution approving a Professional Services Agreement with SUBJECT: Ritland+Kuiper Landscape Architects, in an amount not to exceed $52.700, to complete the Gates Park Master Plan Update, and authorizing the Mayor to execute said document. Submitted by: Submitted By:Paul Huting, Leisure Services Director Recommended Action: Approve Professional Services Agreement. This will be a comprehensive master plan for Gates Park to work in concert with the Ballard-King Aquatics Master Plan. It will include options identified by public input surveys and focus group meetings, to include conceptual Summary Statement: plans and cost estimates for an inclusive playground, aquatic features, lighted sport courts, remediation of the impacts of a new flood wall, evaluation and recommendations for improvements to parking, circulation, trail connections and accessibility. Neighborhood Impact: This plan will be the road map to major improvements for Gates Park which will have many positive impacts on the Neighborhood. Implementation,Accountability, Once complete, this master plan will be used for grant applications to a and Communication: variety of funders, in concert with the aquatics master plan. Recent public opinion surveys and focus group meetings have identified Community Engagement desired elements for the Gates Park Master Plan. Additional meetings with Methods: community stakeholders will be included in the master plan process, resulting in a preliminary master plan which will be presented to the community for input and revisions based on that input. Young Family Foundation has pledged $19,500 Expenditure Required/Source of VGM Employees Fund has pledged $10,000 Funds: RAGRAI Committee has pledged $5,000 Grant Request submitted to Van G. Miller Charitable Trust for$15,000 G.O. Bonds are available to fill remaining funding gap of approx. $3,200 Page 267 of 557 AGREEMENT BETWEEN CLIENT AND LANDSCAPE ARCHITECT This Agreement, effective as of November 1, 2021, is between the following parties: CLIENT: City of Waterloo LANDSCAPE ARCHITECT: RITLAND+KUIPER Landscape Architects (RKLA) for the following PROJECT: Gates Park Master Plan Update ARTICLE 1: LANDSCAPE ARCHITECT'S BASIC AND ADDITIONAL SERVICES A. Project Understanding The purpose of this master plan update is to explore potential improvements at Gates Park. Existing site features (parking, roads, ball fields, sport courts, shelters, etc.)will be analyzed for condition and relevance based upon the observations of Waterloo Leisure Services staff, elected city officials, and neighborhood stakeholders. Recommendations will begin by considering past Gates Park Master Plan concepts and will include, but not be limited to, the following issues: 1. Recommendations by the Client's current aquatic and programming consultants for the status and future of the existing swimming pool or potential for a splash pad development at Gates Park. 2. Alternative layouts for athletic fields as required 3. Potential reconfiguration or relocation of existing tennis and basketball facilities 4. Improvements to site circulation and accessibility 5. Potential picnic shelter locations 6. Options for development of an inclusive playground and splash pad in the park End products to be provided will include a final master plan in a PDF format and grant level cost opinions. B. Scope of Services 1. Design Development Phase: a. Attend a kickoff meeting with the Client to affirm the process, timeline, and identify the stakeholders to include in the planning process. b. Facilitate a group meeting with Client and invited stakeholders to identify each of their specific interests, ideas, and goals for the park and possible inclusive playground. c. Coordinate the following AECOM survey and design development tasks: • Topographic and utility survey of upper and lower Gates Park with enough detail to guide site design alternatives. • Evaluate utilities connections and terminations that may be needed for proposed improvements to Gates Park. • Assistance with site design, grading quantities, and preliminary cost opinions. • Coordination of lower Gates Park improvements with flood control systems previously designed by AECOM. d. Develop a preliminary conceptual master plan for Gates Park based upon information gathered. e. Facilitate a group meeting with stakeholders to discuss the preliminary conceptual master plan. f. Revise conceptual master plan based upon stakeholder input. g. Hold an open house where the public is invited to review the conceptual master plan. Page 268 of 557 h. Facilitate a stakeholder meeting to review the input from the open house. i. Finalize the design development plan and preliminary cost opinion for the park. Final rendered plan and cost opinion will include sufficient detail for use with public review, grant submittals, and fundraising efforts for proposed improvements. Final deliverables will include up to four perspective drawings or image edits that will show before and after impacts of proposed improvements. C. Services Not Included The following tasks are specifically excluded from this scope but can be provided for an additional fee: 1. Specialty Features (final design of spray pad features, individual play structures within the playground, shelter structures, public art features, etc.). 2. Civil, mechanical, or electrical engineering (water supply, sanitary sewer, storm sewer, electrical supply, communications, lighting). 3. 3D modeling of the park improvements. 4. Printing and reproduction costs—deliverables will include digital PDF files provided to the Client. Any desired printing of reports, plans, or presentation graphic boards will be billed to the Client at our direct cost. 5. Construction Documents and Construction Related Services—these services would be added by amendment to this contract after the scope of the project is more clearly defined. D. Additional Services 1. We will identify services not included in our proposed scope of work if they are requested. We will advise your office of the impact on our work, and propose an increase to the fee amount before any work is undertaken that is outside our scope of services. 2. Extra services will be provided on an hourly basis at the billing rates listed below or the current hourly rates prevailing when services are rendered. ARTICLE 2: TERMINATION A. Either Client or Landscape Architect may terminate this Agreement upon seven days written notice. B. If terminated, Client agrees to pay Landscape Architect for all Basic and Additional Services rendered and Reimbursable Expenses incurred up to the date of termination. C. Upon not less than seven days'written notice, Landscape Architect may suspend the performance of its services if Client fails to pay Landscape Architect in full for services rendered or expenses incurred. Landscape Architect shall have no liability because of such suspension of services or termination due to Client's nonpayment. ARTICLE 3: DISPUTE RESOLUTION A. Client and Landscape Architect agree to mediate claims or disputes arising out of or relating to this Agreement before initiating litigation. The mediation shall be conducted by a mediation service acceptable to the parties. A party shall make a demand for mediation within a reasonable time after a claim or dispute arises, and the parties agree to mediate in good faith. In no event shall any demand for mediation be made after such claim or dispute would be barred by applicable law. Mediation fees shall be shared equally. Page 269 of 557 ARTICLE 4: USE AND OWNERSHIP OF LANDSCAPE ARCHITECT'S DOCUMENTS A. Upon the parties signing this Agreement, Landscape Architect grants Client a nonexclusive license to use Landscape Architect's documents as described in this Agreement, provided Client performs in accordance with the terms of this Agreement. No other license is implied or granted under this Agreement. All instruments of professional service prepared by Landscape Architect, including but not limited to, drawings and specifications, are the property of Landscape Architect. These documents shall not be reused on other projects without Landscape Architect's written permission. Landscape Architect retains all rights, including copyrights, in its documents. Client or others cannot use Landscape Architect's documents to complete this Project with others unless Landscape Architect is found to have materially breached this Agreement. ARTICLE 5: MISCELLANEOUS PROVISIONS A. This Agreement is governed by the law of Landscape Architect's principal place of business. B. This Agreement is the entire and integrated agreement between Client and Landscape Architect and supersedes all prior negotiations, statements or agreements, either written or oral. The parties may amend this Agreement only by a written instrument signed by both Client and Landscape Architect. C. In the event that any term or provision of this Agreement is found to be unenforceable or invalid for any reason, the remainder of this Agreement shall continue in full force and effect, and the parties agree that any unenforceable or invalid term or provision shall be amended to the minimum extent required to make such term or provision enforceable and valid. D. Neither Client nor Landscape Architect shall assign this Agreement without the written consent of the other. E. Irrespective of any other term in this Agreement, Landscape Architect shall not control or be responsible for construction means, methods, techniques, schedules, sequences or procedures; or for construction safety or any other related programs; or for another parties' errors or omissions or for another parties' failure to complete their work or services in accordance with Landscape Architect's documents. F. To the greatest extent permitted by Iowa law, the Client agrees to indemnify, defend and hold Landscape Architect harmless from and against any and all claims, liabilities, suits, demands, losses, costs and expenses, including, but not limited to, reasonable attorneys'fees and all legal expenses and fees incurred through appeal, and all interest thereon, accruing or resulting to any and all persons, firms or any other legal entities on account of any damages or losses to property or persons, including injuries or death, or economic losses, arising out of the Project and/or this Agreement, except that the Landscape Architect shall not be entitled to be indemnified to the extent such damages or losses are found by a court or forum of competent jurisdiction to be caused by Landscape Architect's negligent errors or omissions. G. Should any legal proceeding be commenced between the parties to this Agreement seeking to enforce any of its provisions, including, but not limited to, fee provisions, the prevailing party in such proceeding shall be entitled, in addition to such other relief as may be granted, to a reasonable sum for attorneys'and expert witnesses'fees, which shall be determined by the court or forum in such a proceeding or in a separate action brought for that purpose. For purposes of this provision, "prevailing party" shall include a party that dismisses an action for recovery hereunder in exchange for payment of the sum allegedly due, performance of covenants allegedly breached, or consideration substantially equal to the relief sought in the action or proceeding. H. Client and Landscape Architect waive consequential damages for any claims, disputes or other matters in question arising out of or relating to this Agreement. Landscape Architect's waiver of consequential damages, however, is contingent upon the Client requiring contractor and its subcontractors to waive all consequential damages against Landscape Architect for claims, disputes or other matters in question arising out of or relating to the Project. Page 270 of 557 I. To the extent damages are covered by property insurance during construction, Client and Landscape Architect waive all rights against each other and against the contractors, consultants, agents and employees of the other for such damages. Client or Landscape Architect, as appropriate, shall require of the contractors, consultants, agents and employees of any of them similar waivers in favor of the other parties described in this paragraph. J. Client acknowledges and agrees that proper Project maintenance is required after the Project is complete. A lack of or improper maintenance may result in damage to property or persons. Client further acknowledges and agrees that, as between the parties to this Agreement, Client is solely responsible for the results of any lack of or improper maintenance. ARTICLE 6: COMPENSATION AND PAYMENTS A. Based on the amount of services anticipated, RITLAND+KUIPER Landscape Architects (and their subconsultant, AECOM)will provide the services described in Article 1, and in accordance with the conditions outlined in this contract, for a sum not to exceed $ 52,700. RITLAND+KUIPER Landscape Architects $ 24,700 AECOM (includes surveying) $ 28,000 1. Billing for services will be hourly, at the rates listed below, and submitted monthly as the work progresses. 2. Landscape Architect shall bill Client for Basic and Additional Services (if requested and agreed to) monthly as the work progresses. All payments are due Landscape Architect upon receipt of invoice. 3. Billing rates effective through May, 2022: Craig Ritland, FASLA, Principal $125.00/hr. Mark Kuiper, ASLA, Principal $125.00/hr. Samantha Price, Associate, ASLA $75.00/hr. SUBMITTED BY: AGREED TO: LANDSCAPE ARCHITECT CLIENT: CITY OF WATERLOO W44 4 Mad Ku per, ASLA,ILED AP, Principal Signature Dated: November 1, 2021 License/Certificate No. IOWA 00413 Title Renewal Date: June 30, 2023 Dated Page 271 of 557 CITY OF WATERLOO Council Communication Resolution approving a grant request from Van G. Miller Charitable Trust in the amount of$15,000 for the Gates Park Master Plan. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 ATTACHMENTS: Description Type ❑ GrantRequestVanGMTrust Backup Material Resolution approving a Van G. Miller Charitable Trust grant request SUBJECT: application, in the amount of$15,000, to be used in conjunction with the Gates Park Master Plan. Submitted by: Submitted By:Paul Huting, Leisure Services Director Recommended Action: Recommend approval. This resolution is to approve the request of$15,000 from the Van G. Miller Summary Statement: Charitable Trust to be used in conjunction with several other grants to fund the Gates Park Master plan for a new Inclusion Park and other park improvements. Neighborhood Impact: Funds from this grant application would provide the road map for major park improvements benefitting the Gates Park neighborhood. This grant would be used with other grants from Young Family Foundation, Expenditure Required/Source of Waterloo RAGBRAI Committee, and VGM Employees Fund to fund a Funds: new Gates Park Master Plan. Approximately$3,200 from G.O. bonds would be required as match for this project. Page 272 of 557 CHARITABLE REQUEST FORM (For Grants under $25,000) Please complete the form below to request a donation or sponsorship. If we are able to provide a donation or sponsorship, we will call you and let you know when you can pick up your donation sponsorship. Please attach additional information regarding your request with this form. If you have any questions, please feel free to contact Theresa E. Hoffman or Beth Kunkel at(319) 234-1766. Thank you! Name of Person making request: Paul Rutin 7 Leisure Services Director Name of Organization for whom you are soliciting: City of Waterloo Leisure Services Address: 1101 Campbell Avenue, Waterloo, Iowa 50701 Phone: 319-291-4370 What type/amount of donation are you seeking: Seeking $15,000 for Gates Park Master Plan. What will the funds from the donation be used for: The funds will be used to help fund a comprehensive: master plan for major improvements at Gates Park in north Waterloo. Date of event/fund raising deadline if applicable:The Master Plan contract with Ritland+Kui er laandscape Architects would be a roved b the Waterloo Ci Council in November 2021. Actual r'unds disbursement would not be required until after the plan is completed in February, 2022. Has the IRS granted tax deductible status on donations to your organization: Yes. (please provide copy of the current IRS determination letter indicating 501(c)(3)tax exempt status) Tax ID Number of Organization: 42-6005327 Anticipated impact in the local community from this donation: Many_positive impacts are alit icipated as a result of planned nnajor unprwvements to Gates Park,which is located in a neighborhood with great diversity and low to moderate income levels. A new inclusion park would be the first of its kind in Waterloo and would welcome people ofall abilities and backgrounds.from throughout the greater community. How many other donors have you solicited: 3 What has been the response: 1)The Young Family i-�oundation has pledged $19,500.2)VGM Employees have pledged $10,000,deposited at the Waterloo Community Foundation. 3) RAGBRAI COMMITTEE has pledged $5,000, What is your fund raising goal and what have you raised to date: The fundraising goal is$50,000 with $34,500 currently raised. Is there an attachment to this form: Yes,please find attached 1)project summary sheet and 2)IRS Tax Exempt Determination laetter. Dated: October 29, 2021 Signede/f—;;a�z�—�'w� By: Paul Hutin� Title: Leisure Services Director, City of Waterloo, Iowa Page 273 of 557 Gates Park Master Plan Project Summary Gates Park has long been a major anchor park in Waterloo. Established in 1911,this park is 235 acres of gently rolling hills with large oak trees, featuring a golf course, swimming pool, picnic shelters, basketball and tennis courts, soccer field, multiple playground facilities. Many of the facilities in Gates Park have become dated and worn. The swimming pool was built 40 years ago along with a similar pool at Byrnes Park and both are failing. A comprehensive aquatics master plan is currently being done by Ballard, King, and associates. Detailed assessments of both swimming pools indicate they are beyond repair. Recently a new flood control wall has been constructed through Gates Park in order to protect area residents and limit the need for expensive flood insurance. While effectively protecting the public, this wall has cut through Gates Park, leaving a negative visual impacts and isolating playground and picnic facilities from street access. Parking lots throughout the park are also in need of repair. Funding is being requested to develop a comprehensive Gates Park Master Plan in order to facilitate major improvement projects throughout Gates Park. Multiple funding sources are being researched for this project that could result in $4-$5 million in park improvements. Stakeholders have indicated support for the following project elements: 1) A new Inclusion Park to welcome people of all abilities and backgrounds. This would be a place where children of all abilities and backgrounds can play and obtain a rich range of physical,sensory, and social experiences. 2) Aquatic features to replace the obsolete swimming pool, 3) Lighted sport courts. 4) Amphitheatre/performance structure 5) Connecting trails throughout the park and to existing Donald Street trail 6) Improved parking, picnic shelters and restroom facilities 7) Interpretive panels 8) Public Art Re-imagining Gates Park will begin with the Master Plan as proposed by Ritland + Kuiper Landscape Architects. Funding for this plan has already been partially secured from the Young Family Foundation ($19,500), VGM Employees Fund ($10,000), and the local RAGBRAI Committee ($5,000). A$15,000 grant from the Van G. Miller Charitable Trust would complete the needed fundraising for this plan. Page 274 of 557 Internal Revenue Service Department of the Treasury P. O. Box 2508 Cincinnati, OH 45201 Date: March 24, 2003 Person to Contact: Cassandra E. Jackson 31-07417 Customer Service Representative City of Waterloo- Toll Free Telephone Number: Finance Department 8:00 a.m.to 6:30 P.M.EST 715 Mulberry St. 877-829-5500 Waterloo, IA 50703-5714 Fax Number: 513-263-3756 Employer Identlflcation Number: 42-6005327 ., Dear Sir or Madam: This is in response to your request of March 24, 2003 regarding your organization's exemption from Federal Income tax. As a governmental unit or a political subdivision thereof, your organization Is not subject to Federal income tax under the provisions of Section 1 15(1)of the Internal Revenue Code, which states in part: "Gross income does not include income derived from ... the exercise of any essential governmental function and accruing to a State or any political subdivision thereof ..." Because your organization is a governmental unit or a political subdivision thereof, Its income is not taxablo as explained above. Contributions used exclusively for public purposes are deductible under Section 170(c)(1) of the Code. Your organization is not liable for the tax imposed under the Federal Unemployment Tax Act (FUTA). Your organization may obtain a letter ruling on its status under section 115 by following the procedures specified in Rev. Proc. 2002-1 or Its successor. If you have any questions, please call us at the telephone number shown in the heading of this letter. Sincerely, /for John E. Ricketts, Director, TE/GE Customer Account Services Page 275 of 557 CITY OF WATERLOO Council Communication Resolution approving a request by C 10 Investments, LLC, to approve the Final Plat of Schoitz Addition, a 4- lot commercial subdivision in the "S-1" Shopping Center District and "R-3" Multiple Residence District located at 2101 Kimball Avenue. City Council Meeting: 11/15/2021 Prepared: 11/2/2021 ATTACHMENTS: Description Type ❑ Council Packet Backup Material Resolution approving a request by C 10 Investments, LLC, to approve the SUBJECT: Final Plat of Schoitz Addition, a 4-lot commercial subdivision in the "S-1" Shopping Center District and "R-3" Multiple Residence District located at 2101 Kimball Avenue. Submitted by: Submitted By:Noel Anderson. Community Planning and Development Director Staff recommends that the request by C 10 Investments LLC for the final plat of Schoitz Addition, a 4-lot commercial subdivision located at 2101 Kimball Avenue be approved for the following reasons: 1. The request would not appear to have a negative impact on the Recommended Action: surrounding area. 2. The request would not appear to have a negative impact on traffic conditions in the area. And with the following condition(s): 1. A sidewalk is constructed along Acadia Street on the north side of the property. Transmitted herewith is a resolution approving a request by C 10 Investments LLC for the final plat of S choitz Addition, a 4-lot commercial subdivision located at 2101 Kimball Avenue. Included are the following: • Staff report • Overview Map Summary Statement: . Aerial Map • Preliminary Plat • Deed of Dedication • Certificate of Survey • Engineer's Letter • Application The request would not appear to have a negative impact on the neighborhood as the property is at the corner of Kimball Avenue and Neighborhood Impact: Ridgeway Avenue which has commercial businesses on the other three Page 276 of 557 corners. The request would not appear to have an impact on vehicular or pedestrian traffic movements in the area. The area is served by Kimball Avenue and Ridgeway Avenue which are both are classified as Minor Arterials. There are sidewalks on the north side of Ridgeway and the east side of Kimball Avenue in the plat area. There are also sidewalks on the south side of Ridgway Avenue to just past Edgemont Avenue. There are no sidewalks on the west side of Kimball Avenue north of Ridgeway, but there is a recreation trail on the west side of Kimball Avenue south of Ridgeway Avenue. There is no sidewalk along Acadia Street, but one will be required along the portion of Acadia adjacent to the plat. The area of the proposed site is currently zoned "R-3"Multiple Residence District and has been zoned as such since the adoption of the Zoning Ordinance 2479 in 1969 and"S-1" Shopping Center District which was rezoned from"R-3"with Ordinance 5613 on August 16,2021. Surrounding uses and zoning: North— Medical Office and Residential zoned"R-3"Planned Multiple Residence District. South— Ridgeway Avenue and Commercial zoned "S-1" Shopping Center District. East—West High School zoned "R-3"Multiple Residence District. West— KimballAvenue and Commercial zoned "S-1" Shopping Center District. Medical office built in 1981, residences built in 1952 and 1953, West High School was originally constructed in 1955, and commercial built between 1962 and 2016. No Buffering will be required for the rezone. A drainage plan will need to be submitted to Engineering as the project develops. No portion of the property in question is located in a special flood hazard area as indicated by the Federal Insurance Administration's Flood Insurance Rate Map, Community Number 190025 and Panel Numbers 0194F & 0301F, dated July 18, 2011. Lou Henry Elementary School is located 0.58 miles to the southwest, Hoover Middle School is located 0.51 miles to the southwest, and West High School is located adjacent to the plat area to the east. Paulson Park is located 0.57 miles to the southwest and Bontrager Park is located 0.57 miles to the southeast. There is a 15" storm sewer and 4"drain tiles located in Kimball Avenue. There is also a 15"storm sewer located in Ridgeway Avenue that does go through a portion of the south side of the plat area with an easement. The Data/Analysis and Strategies: former hospital was also served by private storm sewer. The Future Land Use Map designates this area as Mixed Residential: Low, Medium, High Density Residential; Professional Offices;Neighborhood Commercial. The request is consistent with the Comprehensive Plan and Future Land Use Map. The applicant is requesting to plat Schoitz Addition, a 4-lot commercial subdivision located at 2101 Kimball Avenue. The former Schoitz Hospital complex is currently located on the site and is scheduled to be demolished as part of the project. Lot 1 is 1.08 acres, lot 2 is 1.31 acres, lot 3 is 3.61 acres, and lot 4 is 1.88 Page 277 of 557 acres for a total acreage of 7.88 acres. The final plat contains: a) Legal Description b)Property Lines — Dimensions c) Date;North Arrow; Scale and Owner d) Easements e) Size of individual lots f) Street names. g) Deed of Dedication The City Council approved the Preliminary Plat on September 7, 2021 with resolution number 2021-609. The Planning and Zoning Commission will review and make a recommendation on the Final Plat at their regular meeting on November 9, 2021. At their October 26, 2021 meeting the Complete Streets Committee voted unanimously to recommend a sidewalk be installed along Acadia Street along the northern portion of the plat. There was no concerns at Tech Review. It was however noted that Engineering has signed off on the Plat and all remaining documents have been received. Therefore, staff recommends that the request by C 10 Investments LLC for the final plat of Schoitz Addition, a 4-lot commercial subdivision located at 2101 Kimball Avenue be approved for the following reasons: 1. The request would not appear to have a negative impact on the surrounding area. 2. The request would not appear to have a negative impact on traffic conditions in the area. And with the following condition(s): 1. A sidewalk is constructed along Acadia Street on the north side of the property. Expenditure Required/Source of None Funds: Page 278 of 557 November 9,2021 Staff Person: John Dornoff Date: November 9, 2021 Subject: Final Plat Schoitz Addition REQUEST: Request by C 10 Investments LLC for the final plat of Schoitz Addition, a 4-lot commercial subdivision located at 2101 Kimball Avenue. APPLICANT: C 10 Investments LLC, 3759 Ranchero Road, Cedar Falls, Iowa 50613 GENERAL The applicant is requesting to plat the property located at 2101 DESCRIPTION: Kimball Avenue. The former Schoitz hospital currently sits on the site which will be demolished and the area redeveloped. 21 �.Y EASTONAVE ,;. EASTONAVE EASTONAVE `9 ,— WANHOERD 4� MORGAN RD ,& '�l I fACCADIA ST _ � B•f d I S I Al' s a '�" 9 A - � w West High School s a �l W RIDGEWAYAVE E RIDGEWAY E.RIDGEWAYAVE E RIOGEWAY AVE Property to be Platted z y , o p '. ♦ -Y -,1� i l CAT Z Schoitz Addition Final Plat Pdgrf2719 of 557 November 9,2021 IMPACT ON The request would not appear to have a negative impact on the NEIGHBORHOOD & neighborhood as the property is at the corner of Kimball Avenue and SURROUNDING Ridgeway Avenue which has commercial businesses on the other LAND USE: three corners. lFAhIELTgfTLIh6 Picture 1:Looking across Kimball Avenue at the existing strip center. j Picture 2:Looking south across West Ridgeway Avenue at shopping center. SchoitzAddition Final Plat Pdgrf28V of 557 November 9,2021 VEHICULAR & The request would not appear to have an impact on vehicular or PEDESTRIAN pedestrian traffic movements in the area. The area is served by TRAFFIC Kimball Avenue and Ridgeway Avenue which are both are classified CONDITIONS: as Minor Arterials. RELATIONSHIP TO There are sidewalks on the north side of Ridgeway and the east side RECREATIONAL of Kimball Avenue in the plat area. There are also sidewalks on the TRAIL PLAN AND south side of Ridgway Avenue to just past Edgemont Avenue. There COMPLETE are no sidewalks on the west side of Kimball Avenue north of STREETS POLICY: Ridgeway, but there is a recreation trail on the west side of Kimball Avenue south of Ridgeway Avenue. There is no sidewalk along Acadia Street, but one will be required along the portion of Acadia adjacent to the plat. ZONING HISTORY The area of the proposed site is currently zoned "R-3" Multiple FOR SITE AND Residence District and has been zoned as such since the adoption IMMEDIATE of the Zoning Ordinance 2479 in 1969 and "S-1" Shopping Center VICINITY: District which was rezoned from "R-3" with Ordinance 5613 on August 16, 2021. Surrounding uses and zoning: North — Medical Office and Residential zoned "R-3" Planned Multiple Residence District. South — Ridgeway Avenue and Commercial zoned "S-1" Shopping Center District. East - West High School zoned "R-3" Multiple Residence District. West — Kimball Avenue and Commercial zoned "S-1" Shopping Center District. DEVELOPMENT Medical office built-in 1981, residences built in 1952 and 1953, West HISTORY: High School was originally constructed in 1955, and commercial built between 1962 and 2016. BUFFERS/ No Buffering will be required for the rezoning. SCREENING REQUIRED: DRAINAGE: A drainage plan will need to be submitted to Engineering as the project develops. FLOODPLAIN: No portion of the property in question is located in a special flood hazard area as indicated by the Federal Insurance Administration's Flood Insurance Rate Map, Community Number 190025, and Panel Numbers 0194F & 0301 F, dated July 18, 2011 . PUBLIC /OPEN Lou Henry Elementary School is located 0.58 miles to the southwest, SPACES/ Hoover Middle School is located 0.51 miles to the southwest, and SCHOOLS: West High School is located adjacent to the plat area to the east. Paulson Park is located 0.57 miles to the southwest and Bontrager Park is located 0.57 miles to the southeast. Schoitz Addition Final Plat Pdg@f 28117 of 557 November 9,2021 UTILITIES: WATER, There is a 15" storm sewer and 4" drain tiles located in Kimball SANITARY SEWER, Avenue. There is also a 15" storm sewer located in Ridgeway STORM SEWER, Avenue that does go through a portion of the south side of the plat ETC: area with an easement. The former hospital was also served by a private storm sewer. RELATIONSHIP TO The Future Land Use Map designates this area as Mixed COMPREHENSIVE Residential: Low, Medium, High-Density Residential; Professional LAND-USE PLAN: Offices; Neighborhood Commercial. The request is consistent with the Comprehensive Plan and Future Land Use Map. STAFF ANALYSIS — The applicant is requesting to plat Schoitz Addition, a 4-lot ZONING commercial subdivision located at 2101 Kimball Avenue. The former ORDINANCE: Schoitz Hospital complex is currently located on the site and is scheduled to be demolished as part of the project. Lot 1 is 1 .08 acres, lot 2 is 1.31 acres, lot 3 is 3.61 acres, and lot 4 is 1.88 acres for a total acreage of 7.88 acres. STAFF ANALYSIS — The final plat contains: SUBDIVISION a) Legal Description ORDINANCE: b) Property Lines — Dimensions c) Date; North Arrow; Scale and Owner d) Easements e) Size of individual lots f) Street names. g) Deed of Dedication Schoitz Addition Final Plat Pdg@f 2811 of 557 November 9,2021 q= --- rrY Picture 3:Looking from the corner of West Ridgeway Avenue and Kimball Avenue toward the former hospital. f.. i Picture 4:Looking at the backside of the property with Acadia Street to the right of the picture. Schoitz Addition Final Plat Pdg@P281 of 557 November 9,2021 ICWNTY:BLACK ALIQUOT PART:BY CITY:WA—LOD Pppl� p I SUBOIVISICN'.PTF �µ71L5 V O I BLOCK t Rei EhO e o f A C A D I A S T(60'ROW) N E t�°e L a PRaPRI aR co o S 89.50'46'E R£Rur$TEn Br.O' T - -.�.— . 254.74' SW CDRNER 254.8' R PREPARED Br:l L0T 77 37 38 39 40 I 41 ` 42�,A e Fn V REene ` Pent e 43 44 1 45 �g Paint of Be Innln asep5� canmencement —I _ _S 89°50'46' WATI I 386.00' if NOD'59"3 w LIFESTYLE LANE o�~a Lot I w m SCH01TZADDIT D114G PAF 69.83'�'� — — — — c5 ga.`-O 1.88 Acres N ATcTHE sw COI _- 13 WEST OF T z Im CORNER OF L01 ll CF ACAOfA 5' ADDI II°N; THfN a asbY7 I 20.60 FEET: �I� Pr raspp10 _ 2D'SanihrY Sewer Easement N89'S1'24"W,6 N OO'59'43' 1W J N00'59'43"W. S 89.5 ' E _ 325.88'— THENCE NCO'5' 1 1 HIET TO THE S89'51'24'E — — c1 w S89'51'24'E z 190.62' 76'44 S 89°51'24.1 E SOC' S 89°51'24' E I s 00'59'43'E 47.80' 90.00' Lott a'0' S 89°51'24' E se9•DD•v'W 1.31 Acres DAD, �I 11 20.00' D II C 20'Sanitary Sewer Easement.�J Lot 3 m361 Acres y 35' tb seack kjiLDO SCM C __ N e9•51'24'W Ilk m 264.39' rn � 4, 110'PUE O I N 1O N N N o M Storm Sewer Eos meat � I Lot 1 �I — 1.08 Acres 'w 18'PUE— N 45'59'43' W —N 69'51'24' W— fh —N B9'51' 4 U 19,87 250,0C' 398.68' 648.68' 2145' R N 89°5L'24' W EAST RIDCEWAY SW CORNER AV E N U E(100'ROW) SEC 35-89-13 FD MAGNETIC READING The adjoining subdivisions will need to be added including unplatted to the east. The City Council approved the Preliminary Plat on September 7, 2021, with resolution number 2021-609. At their October 26, 2021 meeting the Complete Streets Committee voted unanimously to recommend a sidewalk be installed along Acadia Street along the northern portion of the plat. There were no concerns at Tech Review. It was however noted that Engineering has signed off on the Plat and all remaining documents have been received. Schoitz Addition Final Plat Pcfg@P281,f of 557 November 9,2021 STAFF Therefore, staff recommends that the request by C 10 Investments RECOMMENDATION: LLC for the final plat of Schoitz Addition, a 4-lot commercial subdivision located at 2101 Kimball Avenue be approved for the following reasons: 1. The request would not appear to have a negative impact on the surrounding area. 2. The request would not appear to have a negative impact on traffic conditions in the area. And with the following condition(s): 1. A sidewalk is constructed along Acadia Street on the north side of the property. Schoitz Addition Final Plat PdgIP289 of 557 City of Waterloo Planning, Programming and Zoning Commission November y, 2021 _LAVE` CAMPBELL AVE J R-2 CA PBELLAVE y �,v-2iR 4 WI LISTON AVE R•3 R_1, R-2,l_Z R 3 R-41. R-2,C-Z OLU/M. 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IDGEW YAVEar C) N ,R 4 z WILSHIREAVE R w Z NP Qe BUR @qNK BUAV RS NK LINDNER DR `F > S-1 V o ❑ a J a w Ja ❑ RAPIDS'_ qrq� �� m ❑ ' w F w mGLENCOE AVE a a l- l w li 2 CT��F �J �O LEONAAVE O _ R-4 P co OR '@ 2TWOODAVE w w - w HILLTOP RD ❑ Y J - to OHO R gP`rP 'C+Z W J Fo �S�o� o � yQ ��� WHILLTOP RD O U (q R P I Q NOa, x O z PARK L @ AVE w G R-3 U R-3 Q CRT g02� SARATOGA DRO 5P� - COLUMBUS DR p� FR.BRUNKEN BLVD' MEAD LN J R-4LU , ❑ pq R-2,C-Z O HAINES AVE z /'+_Z w w R�. n lr ARRYINGTON w w ,� R24�R_4—__AT1' RA HAEL ST DR a R-3 x w w ID �O ❑ R CHAEL ST EDGEMONT z z QRAVENwOOD RD R=P I R-4 AVE R-3 R-2 2� W a a R-31 LL U �Q CEARL a 0) w w x fZ�4 ° oy a Z 0 = a o > a m a PNT �% �_� N o w rn w z z O w C-1 O/ '' w WILDWOOD RD a U C U l! R-3 R-P Z R-2 R-2 N C-Z R-4 R-3 x R-4 F PAIGE o / I_ _ �m w¢ d❑ O MPIC DR Z OO m ¢ o 4Dow t N °m N C-1 R-4� UTHBROOK ,O DR ~ R-3 N T IL EXCELSIOR ' LN O C-1 C�1 C-Z z SO YA DR w a , C-1 1 G-Z E. N MARNAN ACCEBB ----- R_4 C,2, W W.SAN MARNAN DR Z F E. SAN MARNAN DR V. E.SAN M NAN DR R-4,R-P C-P Zy9ti C-2, C-2 omEu' A-1 M-1 PARK DR x z C_Z w O E.TOWER PARK 05 DR r C-P B ERPA DR z T Q B=P/ FJ z Q N 2ioi Kimball Avenue W .E Final Plat s C io Investments Feet Page 286 of 557 City of Waterloo Planning, Programming and Zoning Commission November y, 2021 r r IVANHOE RD U N MORGAN RD T 1 � �♦ s� ACADIA ST 9_ LIFESTYLE LN A West High School c 100 1 A� u N Q I �IBO �t 00 W.RIDGEWAY - rE.RIDGEWAYAV E.RIDGEWAYAVE E.RIDGEWAYAVE U Property to be Platted _ z WJ ' s N 2101 Kimball Avenue W .E Prelimnary Plat s C io Investments Page 287 of 557 INDEX LEGEND COUNTY:BLACK HAWK I SECTION 351 TWP 89 N I RANGE 13 W ALIQUOT PART:SW% I I CITY: WATERLOO I \A\\\-5 S � Ppp\j\pN 0 SUBDIVISION: PT SUNSET HILLS I PT UNPLATTED SpNSEj o BLOCK: — — — — — — 'e& to f — — Q LOT: Esto z I A C A D I A S T (60' ROW) IA E\oWo Ljp I PROPRIETOR:C10 INVESTMENTS L.L.C. \west C) S 89°50'46" E REQUESTED BY:PROPRIETOR cn m i0 cD — W— — — T z 254,74' CD 254.8254.7 R PREPARED BY:BRIAN M. CRAWFORD, PLS-CRAWFORD ENGINEERING 118 3RD AVE NE INDEPENDENCE, IOWA 50644 (319)334-7077 W .� SW CORNER o O SUNSETOHILLS £� 37 38 39 40 I 41 142' Ln - I I Z o SCHM7Z &DOM60 FD Y2" REBAR I Point of 70 w 43 44 I 45 0 Beginnin ��o � Point of S 89°50'46" E — �� £ — — _L — � w WATERLOO, 0O0 / °, commencement � — — — 386.00' ��? w r% LEGAL DESCRIPTION: N 00°59'43 I I SCHOITZ ADDITION BEING PART OF THE SW Ya OF THE SW Y4 OF SECTION 35, TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M. W LIFESTYLE LANE Lot 4 69,83' 0� £ INCLUDING PART OF SUNSET HILLS ADDITION ALL IN THE CITY OF WATERLOO, BLACK HAWK COUNTY IOWA DESCRIBED AS:COMMENCING — °� 1.88 Acres AT THE SW CORNER OF LOT 37 OF SUNSET HILLS ADDITION IN THE SW Y4 OF THE SW Y4 OF SECTION 35, TOWNSHIP 89 NORTH, RANGE k — — — — — 13 WEST OF THE 5TH P.M., IN THE CITY OF WATERLOO, BLACK HAWK COUNTY IOWA; THENCE S89°50'46"E, 386.00 FEET TO THE SE z CORNER OF LOT 42 OF SUNSET HILLS ADDITION AND THE POINT OF BEGINNING; THENCE NOO'59'43"W, 100.09 FEET TO THE SOUTH LINE z 00 o I I o OF ACADIA STREET; THENCE ALONG SAID SOUTH LINE S89°50'46"E, 254.74 FEET TO THE NE CORNER OF LOT 46 OF SUNSET HILLS �I Cn V�esb\o'\"\ onp\Vo\ I oCn w ADDITION; 00 FEETENTHENCCE E OaSOO'59'43 E8 255.23 .00 FEET ENO THCE E NORTH LINE OOFFEAST RFIDGEWAYENCE OAVEN AVENUE; THENCE ALONG SAID ENORTH 1LI EE WIC Ps ? w 20' Sanitary Sewer Easement N89°51'24"W, 648.68 FEET; THENCE N45°59'43"W, 19.87 FEET TO THE EAST LINE OF KIMBALL AVENUE; THENCE ALONG SAID EAST LINE 41 N 00°59'43" W NOO'59'43"W, 224.13 FEET; THENCE S89°00'17"W, 3.00 FEET; THENCE N00°59'43"W, 151.55 FEET; THENCE S89°51'24"E, 190.62 FEET; £ 13.00' £ S 89°51 24" E — 325.88'— I w THENCE N00°59'43"W, 13.00 FEET; THENCE S89°51'24"E, 124.24 FEET; THENCE N00°59'43"W 111.04 FEET; THENCE N45°09'14"E, 98.64 000 FEET TO THE POINT OF BEGINNING. DESCRIBED LAND CONTAINS 7.88 ACRES AND IS SUBJECT TO EASEMENTS AND RESTRICTIONS OF S89°51'24"E — — — — -� w S89°51'24'E RECORD. z 190,62' S 89°51 244E S 89°51'24" E 5.00' S 00°59'43" E - o z 47.80' 90.00' D � N o 1 HEREBY CERTIFY THAT THIS LAND SURVEYING DOCUMENT WAS PREPARED Q �Ss�oN9� F_ cn � Lot 2 no cnl AND RELATED SURVEY WORK WAS PERFORMED BY ME OR UNDER MY DIRECT r w � PERSONAL SUPERVISION AND THAT I AM A DULY LICENSED PROFESSIONAL N S 89°51'24" E BRIAN M. LAND SURVEYOR UNDER THE LAWS OF THE STATE OF IOWA. S89°00'17'W £ Cres fu w I w CRAWFORD 3,00' I 20,00 LICENSE RENEWAL DATE: 12-31-2022 LICENSE NO. 17344 17344 £ D I Lot 3 < cn 20' Sanitary Sewer Easement-J. �` IONX M z i0 3.61 Acres S1ED BRIAN M. CRAWFORD, P.L.S. DATE CD 35' setback-< �Np p SCNOp�S z o - C _ N 89°51'24" W WkiRvo NORTH cn m 264,39' 0 0 50 100 rn w J o PREPARED BY: I oo DEVELOPER: rn IL-10' PUE c`n N Crawford Engineering&Surveying C10 Investments L.L.0 �O o i0 GRAPHIC SCALE Inc. 3759 Ranchero Road 2052nd Avenue NE � Cedar Falls Ia 50613 � 1 INCH = 100 FEET � 41 ,� Independence,Iowa 50644 Contact:Jeff Stickfort ru CD 25' Storm Sewer Ea s ment ro Contact:Brian M.Crawford Ph:(319)290-4357 L Lot 1 ,°,I Ph:(319)334-7077 — 1.08 Acres — � 10' PUE SHEET 1 OF 1 N 45°59'43W N 89°51'24" W N 89°51' 4 W — Legen S CH OI TZ ADDITION 19.87' " 250,00' 398.68' 648.68' A -USPLSS CORNER FOUND AS NOTED FINAL PLAT 21.45' R N 89°5124" W ♦ -FD 1/2" REBAR WATERLOO, IOWA ■ -FD 3/4" PINCHED PIPE 0 -FD 1/2" REBAR W/ CAP 16775 DRAWN BMC EAST RIDGEWAY 50.0' /lJ (Ca ((s� CRAUUFOR� ENGREERNG SW CORNER AVENUE (100' ROW) ® -SET 1/2" REBAR W/ CAP 17344 CHECKED DTC PROJ NO 21302 { SURVEYING, PC SEC 35-89-13 FD MAGNETIC READING SHEET FP-01 118 3rd Ave NE Independence,Iowa 50644 F.�HIBIT lle EASEMENT EXHIBIT FOR INGRESS/EGRESS PART OF THE SW 1/4 OF SECTION 35, TWP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M., BLACK HAWK COUNTY IOWA EASEMENT�1 DESCRIPITON• A STRIP OF LAND 25 FEET IN WIDTH CENTERED ON THE FOLLONNNG DESCRIBED LINE: COMMENCING AT THE SW CORNER OF LOT 37 OF SUNSET HILLS ADDITION IN THE SW V4 OF THE SW Y{ OF SECTION 35, TOWNSI-UP 89 NORTH, RANGE 13 WEST OF THE STH P.M.. IN THE CITY OP WATERLOO, BLACK HAWK COONTY IOWA. ]HENCE SDO'5943'E, 193.86 FEET ALONG THE EAST RIGHT OF WAY LINE OF KIMBALL AVENUE, THENCE S69'51'24 E, 40.36 FEET TO THE POINT OF BEGINNING. THENCE SOO'00`00`E, 339.27 FEET-. THENCE 5$9'57'51"E, 233.25 FEET, THENCE SOG'0D'00"W, 50.44 FEET TO THE NORTH LINE OF RIDGEWAY AVENUE. I)MRIBED EASEMENT CONTAINS 0.35 ACRES, EASEMENT&2 D%RIPTION: A STRIP OF LAND 25 FEET IN WIDTH CENTERED ON THE FOLLOWING DESCRIBED LINE COMMENCING AT THE SW CORNER OF LOT 37 OF SUNSET HILLS ADDITION IN THE SW Y, OF THE SW y4 OF SECTION 35, TOWNSHIP 69 NORTH, RANGE 13 WEST OF THE 5TH P.M., IN THE CITY OF WATERLOO, 13LAGK HAWK COUNTY IOWA. THENCE SOO.59'43"E, 256,25 FEET ALONG 'fHE EAST RIGHT OF WAY LINE OF KIMBALL AVENUE TO THE POINT OF BEGINNING, THENCE N90'00'OO"E, 39.61 FEET, THENCE S00'00'00"E, 136.38 FEET, THENCE S89'51'24"E, 230.37 FEET. DESCRIBED EASEMENT CONTAINS 0.23 ACRES. N 00"59'43' W s ACADIA AVE 1aa.o7' o 100.0'ft 5 69'50'45" E `D 254. Lim �- - • .I - . T_._ - -� - �- -i . - .. � . � . " 74' 254.8' R < 37 38 39 40 41 l 42 43 f 44 45 $ B9'SD'48 46 w � �o o �rORNER I OT37N 45'09'14" E o m SUNSET INLLS 9B." W FD 1¢"RERAR w m M 3 n F'D S89'51'24"E 5 89'51'24" E o I� M 4o.36' 724.23' 0. r - — 13.00' u. P) . N 00'59'43" W n � C Point of M Beginning S89'S#'24"E 0' Easement #1 5,00'M Paint of SDG'59'43'E Beginning zfl N 90'00'OO" E Easement #2 39.61' S89130"!7-W 25' ED3em8Dt Z5'Easement 589'5;'2R"E 3.00• 20.OD' s 30. Z n to CA NIo to �m S 89'57'51" •W 233.25' NORTH W I 25' Easement S 00"CO'00" W 0 50 100 l 30.44' ® ffI Scale I'm 1o0' I 50.D' N45'59'43"W N 89'51'24" W 19-87' 646.88' — 21,45' R �...— - - - SW CORNER RIDGEWAY AVENUE — SEC 35-89-13 FB MAGNETIC READING 'HEREBY CERTIFY THAT THIS LAND 5IJMYlW DOCUMENT WAS PREPAREDOELL� -+ANA RWTED SURVEY WORK WAS M?F MED BY ME OR UNDER MY OftVi RAWFORQ ENGINEERING PFRSONAL SUPERWION AND THAT I AM A DULY LICENSED PROFESSIONALLAND SURVEYOR UNDER THE LAWS OF THE STATE OF IOWA & SURVEYING, INC, LICENSE RENEWAL DAE 12-37-2a2tUCENSE NO. 8812 205.5£COND RVENUE N.6 pO, BOX 793, INDEPDVDENC� IOWA 30644 Y+Y] �,, � __ Phone (319) 334-7077 DANFEL T.�AAWo,' A.L.S. DATEPROJECT NO. 21302 FLD.BK.ND.,.,._PAGE Page 289 of 557 DEED OF DEDICATION OF SCHOITZ ADDITION, CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA KNOW ALL MEN BY THESE PRESENTS: That the undersigned, C 10 INVESTMENTS, L.L.C., an Iowa limited liability company, being desirous of laying out and platting into lots the real estate described in the attached Surveyor's Certificate by Daniel T. Crawford, P.L.S. of Crawford Engineering and Surveying, Inc., dated the day of , 2021, does, by these presents, designate and set apart the aforesaid premises as a subdivision of the City of Waterloo, Black Hawk County, Iowa, the same to be known hereafter and called Schoitz Addition, City of Waterloo, Black Hawk County, Iowa, all of which is with the free consent and desire of the undersigned, The Developer does hereby grant and convey to the City of Waterloo, its successors and assigns, and to any private corporation, firm or person furnishing utilities for the transmission and/or distribution of water, sanitary sewer, gas, electricity, communication service or cable television, perpetual easements for the erection, laying, building and maintenance of said services over, across, on and/or under the property as shown on the attached plat. BE IT ALSO KNOWN that the undersigned does also covenant and agree for itself, its successors and assigns, that each and all of the lots in the said subdivision shall be, and the same are hereby made subject to the following restrictions upon their use and occupancy as fully and effectively to all intents and purposes as if the same were set forth and contained in each deed of conveyance or mortgage that the undersigned, or its successors in interest, may hereafter make for any of the said lots, and that such restrictions shall run with the land and with each individual lot thereof for the length of time and in the particulars hereinafter stated, to-wit: I. COVENANTS, CONDITIONS, AND RESTRICTIONS. A. DEFINITIONS. For the purpose of this instrument, the following terms shall have the following definitions: 1. Developer—shall mean and refer to C 10 Investments, L.L.C. 2. Development—shall mean and refer to the real property described above. 3. Lot—shall mean and refer to any individual parcel of land located within Development which is platted as a separate parcel to be sold or developed. 4. Lot Owner—shall mean and refer to the record owner, whether one or more persons or entities, of the legal or equitable title to any Lot. B. PERMITTED AND PROHIBITED USES. 1. PERMITTED USES. Lots 1, 2 and 3 within the Development may be used only for retail sale and for office purposes. Lot 4 may be used for multi-family residential purposes. Further, upon written approval of Developer, and at the Page 290 of 557 Developer's sole discretion, lots within the Development may be used for other commercial uses compatible with and ancillary to the aforementioned uses (including, but not limited to, banks, restaurants, etc.). Only Lot 3 may be used for a convenience store with fuel sales and a car wash. 2. PROHIBITED USES. a. Any use for any medical use, medical sales use, or abortion clinic, or by any future medical service or sales provider, which may be in conflict, and/or a competitor of Covenant Medical Center, or any Franciscan Iowa Service corporation. b. Any use which is in violation of the laws of the United States, the State of Iowa, any other governmental authority having jurisdiction over the Development. C. Any bar, night club, adult entertainment, sale of firearms and related products, outdoor clog kennel, or tattoo parlor. d. Uses not otherwise permitted in Section I(B) above. C. GENERAL SITE STANDARDS 1. SETBACKS. The minimum setback lines from highways, streets, and interior property lines are shown on the Final Plat for the Development. 2. BUILDING DESIGN. It is Developer's intent to produce an orderly and aesthetically pleasing environment that is compatible with the natural aspects of the Development. The aesthetic appearance of the exterior of the buildings and other structures is of paramount concern to Developer. a. All construction shall conform to the requirements of the City of Waterloo, Black Hawk County, and the State of Iowa Building Code, current editions. Construction shall also conform to the requirements of OSHA and NFPA with regard to life/safety provisions. b. Construction on all Lots shall be diligently pursued and be completed within twenty-four (24) months of purchase and closing from Developer. In the event construction is not completed in two (2) years, Developer may at its option repurchase the Lot at the previous sale price. No excavation shall be made except in conjunction with construction or improvement. When such an improvement is completed, all exposed excavations shall be back-filled, graded, and returned, as nearly as possible, to its natural state or to the approved landscape plan for the site. 3_ LANDSCAPING. It is the intent to provide a landscape image of continuity and diversity by providing color and textural variety. It is also the intent of these regulations to reduce adverse effects upon a tenant's lot and adjacent and nearby property; to screen unsightly situations, undesirable views, and incompatible land uses; to buffer noise and other disturbing sounds, and to provide for shade, protection from elements, and the comfort and convenience of Development tenants and visitors. Landscape plans and any irrigation plans shall be submitted to and approved by Developer. All ground cover shall be seeded or sodded and be suitable for the Black Hawk County climate. Page 291 of 557 4. FENCING. the placement of all fences and the design and materials utilized shall be subject to the approval of Developer. 5. SITE GRADING AND DRAINAGE. No water shall be drained or discharged from any Lot, except in accordance with grading plans approved by Developer. Further, no Lot Owner shall interfere with the drainage established by the grading pian for the remainder of Development or any other property adjacent to said Lot. Stormwater shall be collected on-site and discharged in accordance with all federal, state, and local permits into Development stormwater systems. Drainage easements are more particularly shown on the final plat. 6. SIGNAGE. All signs shall be approved by Developer prior to construction. The design, format, and material of all signs shall be consistent with building architecture, Lot design, and the City of Waterloo zoning regulations. 7. PARKING, DRIVES, LOADING, AND OUTDOOR STORAGE. a. No Lot Owner shall permit parking on any public street or access drive. Sufficient off-street parking should be developed at each Lot. Hard surfacing of parking areas shall be required with an all-weather surface at least 5" thick, with all such parking lot surfacing pursuant to Waterloo City Ordinance. An adequate number of visitor and handicapped parking spaces shall be provided near the entrance to any building. Parking requirements shall be based in accordance with requirements of the City of Waterloo zoning ordinance. Variances to these parking requirements may be granted only by approval of both Developer and the City of Waterloo, Iowa. However, site space shall be reserved to meet the full parking requirements in the event of changes in building use or commuting patterns. Developer shall also have the ability to require more parking spaces per square foot if the tenants in a building have good faith rationale for the same. b. Driveways shall be required to be hard surfaced with a material suited to carry load of traffic in and out to building lot. Driveway width shall be a minimum of 22' with a minimum curb return radius of 20'. No driveway approach shall be permitted with 125' (curb to curb) of a street intersection. One curb cut is allowed for every 150', of street pavement frontage, but it may not be located closer than 100' from an adjacent curb cut. No lot shall have more than two curb cuts. All driveways and curb cuts are subject to Developer's approval and City of Waterloo requirements. As per City of Waterloo Standards and Specifications, the material and minimum thickness of driveways are six (6) inches of Portland Cement Concrete or seven and one half(& 112 ) inches of Hot Mix Asphalt. c. Lot 2 shall have direct access from Kimball Avenue by using the current driveway from Kimball Avenue. Lot 1 shall have no direct access to Kimball Avenue. Lot 1 and Lot 3 will be have direct access to Ridgeway Avenue by a driveway to be installed from said Ridgeway Avenue. Lot 3 shall also have direct access to Ridgeway Avenue by use of an existing driveway from said Ridgeway Avenue. d. Articles, goods, materials, incinerators, trash bins, storage tanks, or like equipment in the open shall be screened from view in a manner approved by Developer. Said screen shall be in height at least equal to that of the Page 292 of 557 materials or equipment being stored but in any event shall fully shield said materials and equipment from public view and view from adjacent buildings. 8. EXTERIOR LIGHTING. Exterior Lighting shall be provided to meet the following guidelines: a. All wiring for exterior lighting, including but not limited to driveway, walkway, area, parking, and decorative lighting, shall be underground. b. All light fixtures shall be oriented such that glare directed onto adjacent properties, including streets and neighboring tenants lots is minimized. C. Light standards shall be restricted to a maximum height of 20'. Poles should be neutral in color. d. All lighting installations shall conform to the latest edition of the National Fire Protection Association National Electric Code. e. Each tenants shall maintain all light fixtures in proper operating condition. 9. LOCATION OF UTILITY LINES. All utility lines shall be located underground. Whenever possible, utility lines shall be located adjacent to access drives to minimize disruption of landscaping during installation and maintenance of the lines. No utility meter or apparatus shall be located on any pole or attached to the outside of any building wall which is exposed to view from any public street. All transformers shall be placed on or below the surface_ 10. PRIVATE SANITARY SEWER. A private sanitary sewer easement -twenty (20) feet in width - shall be installed in the Development, pursuant to the final plat, with the original construction of said private sanitary sewer line to be the expense of the Developer. This private sanitary sewer system shall serve all four (4) lots in the Development. All Lot owners shall share equally in the repair and maintenance of this private sanitary sewer system. 11. SUBDIVISION OF LOTS. No Lot in Development shall be split, divided or subdivided, except: a. For the purpose of providing land in addition to an entire platted Lot for use in connection with a building; or b. Upon the written consent of Developer. 12. ACCESS EASEMENTS. The Lots shall have the following access easements: a. Lots 1, 2, and 3 shall have access easements as shown on the attached "Easement Exhibit" labeled Exhibit "A". The Lot owners of Lots 1, 2, and 3, shall share equally in the repair and maintenance of all of these access easements. b. All Lots in the Development shall be entitled to ingress and egress over the access easements created between the Developer and Covenant Medical Center, Inc. C. The original construction of Easement#1 and Easement#2 as shown on Exhibit "A", shall be at the expense of the owners of Lot 1 and Lot 2. d. The Developer will construct the driveway from Ridgeway Avenue which will serve as access for Lot 1 and Lot 3 to the extent of seventy (70) feet from the back of the curb. This access drive shall be twenty-five (25) feet in width. Page 293 of 557 13. SIDEWALKS. Sidewalks shall remain along Kimball Avenue and E. Ridgeway Avenue at their existing locations. These sidewalks may be relocated as a part of the Site Developments on adjacent lots, subject to approval by the City of Waterloo. The owners of Lots 1, 2 and 3 shall be responsible for the construction and expense for the construction of any sidewalks that need to be relocated, or for the repair or improvement of the existing sidewalks. This expense shall be shared equally by the owners of these three Lots. The Developer or its successors will install a 4-four-foot-wide Portland Cement Concrete sidewalk with a minimum thickness of four inches (minimum thickness of five inches through driveways) across the full length of Lot 4 along Acadia Street, and extend to match the end of existing sidewalk(s) on adjoining lots where sidewalk exists. The sidewalk along Acadia Street shall be constructed during or immediately after the construction on Lot 4, or portions of Lot 4 if developed in stages, but before issuance of any Occupancy Permits from the City of Waterloo, Iowa; or only sidewalk construction on Lot 4 along Acadia Street if not constructed for five (5) years after the date of final approval of the plat, as soon as the construction season permits. Construction of handicap access ramps at the intersections, as applicable, shall be the responsibility of the developer or adjacent property owner, and as required by the City of Waterloo, Iowa. D. MAINTENANCE. Each Lot Owner and occupant (including a tenant) of a Lot shall jointly and severally have the duty and responsibility, at their sole cost and expense, keeping that Lot so owned or occupied, including buildings, improvements, private drive, easements areas, and grounds in connection therewith or appurtenant thereto (specifically including parkway area between the Lot line and any adjacent street curb), in a well-maintained, clean, wholesome, and attractive condition at all times and shall comply in all respects with all applicable governmental requirements shall include, but are not limited to, the following: 1. TRASH. All rubbish, trash, garbage, litter, refuse, and other waste shall be restored in clean and sanitary solid waste receptacles and shall be promptly removed from Lot prior to its accumulation. 2. EXTERIOR LIGHTING. All exterior lighting and mechanical facilities shall be kept in good working order. 3. PARKING AREAS. All parking areas shall be striped and all parking areas, driveways, and roads kept in good repair. 4, EXTERIOR DAMAGE. All exterior damage to any improvements shall be promptly repaired and the exterior of all improvements shall be repainted as needed. 5. LAWN AREAS. All lawn areas shall be timely mowed and edged a minimum of once a week during the growing season as needed to keep an even, well- groomed appearance; shall be watered and fertilized at such times and in such quantities as required to keep the grass alive and attractive; and shall be kept free of weeds. Page 294 of 557 6. TREES, SHRUBS, PLANTS. All trees, shrubs, plants, and ground covers shall be timely and properly trimmed (including the removal of deadwood therefrom) according to their plant culture and the landscape design shall be watered and fertilized at such times and in such quantities as required to keep them alive and attractive. Any dead tree, shrub, plant, ground cover shall be removed and replaced seasonably. All bed areas shall be free of weeds and cultivated periodically as needed. E. INCENTIVE PAYMENTS. Developer shall be solely entitled to any government incentives, rebates, or other funds (collectively "Incentives") negotiated and received for Development, and Lot Owners shall not have any claim to the same or right of reduction in payment, including any payment of real estate taxes, based upon the same. Lot Owners shall cooperate with Developer, including, but not limited to, assigning any rights to Incentives to Developer. F. ENFORCEMENT. If any party shall violate or attempt to violate any of the covenants, Conditions or restrictions contained herein, it shall be lawful for Developer or any Lot Owner to prosecute a proceeding in law or in equity against the person or persons violating or attempting to violate such Covenants, conditions or restrictions, and to either prevent him or them from so doing or recover damages for such violations. G. WAIVER. Neither the Developer nor its successors or assigns shall be liable to any Lot Owner or occupant of any Lot by reason of any mistake in judgment, negligence, nonfeasance, action, or inaction or for the enforcement or failure to enforce any provision of this instrument. Every Lot Owner or Occupant of any Lot by acquiring its interest therein agrees that it will not bring any action or suit against Developer to recover any such damages or seek equitable relief because of the same. H. VARIANCES. Developer may grant Lot Owner a variance from these Covenants, Conditions, and restrictions as long as the general purpose of the Covenants, Conditions, and Restrictions are maintained. Any variance granted from the provisions of these Covenants, Conditions, and Restrictions shall only be applicable to the specific Lot and conditions for which the variance was granted and shall in no respect constitute a change in or affect the terms or conditions set out in the standards as same apply to other Lots or conditions. I. MODIFICATION. The Covenants, Conditions, and Restrictions, and provisions of this instrument shall be deemed covenants running with the land, and shall remain in full force and effect for a period of 21 years from the date of filing of said plat, unless extended as provided by law. No Lot Owner has the right to amend said Covenants, Conditions, and Restrictions at any time during which Developer has an ownership interest in any Lot in Development, J. SUCCESSOR TO DEVELOPER The Developer shall have the right to assign its rights as Developer to a successor under the Covenants, Conditions, and Restrictions, and said successor shall assume the responsibility of Developer as set forth herein. Thereafter, the Developer shall have no further responsibility hereunder. K. MISCELLANEOUS. 1. SEVERABILITY. If any term or provision of this instrument or application thereof to any circumstance shall, in any jurisdiction and to any extent, be invalid or unenforceable, such term or provision shall be ineffective as to such jurisdiction Page 295 of 557 to the extent of such invalidity or unenforceability without invalidating or rendering unenforceable such term or provision in any other jurisdiction, the remaining terms and provisions of this instrument or the application of such terms and provisions to circumstances other than those as to which it is held invalid or enforceable. 2. FURTHER ACTIONS. The parties agree to execute and deliver from time to time hereafter any and all such further documents and to take such further actions as shall be reasonably necessary to carry out the transactions contemplated by this instrument. 3. GOVERNING LAW. The validity, interpretation, performance and enforcement of this instrument shall be governed by the laws of Iowa. Each of the parties consents to the jurisdiction of the federal and state courts in Iowa in all matters relating to this instrument. The prevailing party in any action to enforce this instrument shall be entitled to reasonable attorney fees and costs. IN WITNESS WHEREOF, the undersigned, being Owner herein, has hereunto set its hand as of the day and year first above written_ C 10 INVESTMENTS, L.LC. BY: Jeff D. Stickfort Managing Member STATE OF IOWA, COUNTY OF BLACK HAWK ss This instrument was acknowledged before me on 2021, by Jeff D. Stickfort, as Managing Member of C 10 Investments, L.L_C_ Notary Public in and for the State of Iowa Page 296 of 557 EASEMENT EXHIBIT FOR INGRESS/EGRESS PART OF THE SW 1/4 OF SECTION 35, TWP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M., SLACK HAWK COUNTY IOWA A STRIP OF LAND 25 FEET IN WIDTH CENTERED ON THE FOLLOWING DESCRIBED LINE-. COMMENCING AT THE SW CORNER OF LOT 37 OF SUNSET HILLS ADDITION IN THE SW Y4 OF THE SW Y4 OF SECTION 35, TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M., IN THE CITY OF WATERLOO, BLACK HAWK COUNTY IOWA; THENCE S00'59'43"E, 193.86 FEET ALONG THE EAST RIGHT OF WAY LINE OF KIMBALL AVENUE, THENCE S89'51'24"E, 40.36 FEET TO THE POINT OF BEGINNING. THENCE SCO'00'00"E, 339.27 FEET; THENCE S89'57'51"E, 233.25 FEET; THENCE 500'00'00"W, 50.44 FEET TO THE NORTH LINE OF RIDGEWAY AVENUE DESCRIBED EASEMENT CONTAINS 0.35 ACRES. A STRIP OF LAND 25 FEET IN WIDTH CENTERED ON THE FOLLOWING DESCRIBED LINE COMMENCING AT THE SW CORNER OF L07 37 OF SUNSET HILLS ADDITION IN THE SW Y OF THE SW Y4 OF SECTION 35, TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M., IN-(HE CITY OF WATERLOO, BLACK HAWK COUNTY IOWA; THENCE SOG59'43"E, 256.25 FEET ALONG THF EAST RIGHT OF WAY LINE OF KIMBALL AVENUE TO THE POINT OF OEGINNING. THENCE N9013D'00"E, 39.61 FEET; THENCE SODY)0'WE, 136.38 FEET; THENCE S89'51'24'E, 230.37 FEET. DESCRIBED EASEMENT CONTAINS 0.23 ACRES, N 06.56'43- w Z ACADIA AVE 100.67' 40 100.0'R S 89'50.48" E T- _..._.� - 254.74' 254.8' R 37 38 39 40 41 42 43 44 45 4fi S 89.5046- E 0 0 LORNER OT 37 N 45'09'14" E o 0 p SUNSET HILLS 98.64' m Iw FII Sri REBAR r*3 m 3 ni l m "a ' " 124.23' n 40.36' �" w n u N 00'59'43° W m N C rif m M Point of Beginning S8951'24"E C Easement 41 5.00' m 500'59'43" Point of 9D.Oq' Beginning N 90'00'00" E Easement 4#2 39-81' 25' EoSement 25'Easement S89'51'24"E 5$9'OD — 3.00o'' 1 20.60'� 1 { 30. z � 'o 10 EA o I10 m D S 89'57'51" E .LA +? a o 233.25' N O R TH w 25'Eosernent 5 00'00 W 50-44'44' 0 50 1 or] m Scale: t"=108' 50.0' N4559'43'W '— - N 8951'24-- W - — • — - — - — - 19.87 646.fiB 21.45' R – SW CORNER RIDGEWAY AVENUE — — — — SEC 35-89-•13 FD MAGNETIC READING min Ran1`o SAVEY THAT TO LAND WAS FORMm a ME"M UWAS MY Df zuePROJECT CRA WFORD ENGINEERING PERSONAL SUPERASION AND THAT!Aid A DULY LICENSED PROFESSIONALLAND SURVEYOR UNIAR THE LAWS OF THE STATE OF IOWA. & SURVEYING, INC. LICENSE RENEWAL Oke 12-31-2027 ��yy�/ DCENSE Na x812 205.SECOND AVENUE N.E' E'�C�1F.O. BOX 793, INDEPEAIDENCE IOWA 50644 Phowre (319) ;534--7077 DARNEL T. DP.L.S nATE ND. 21302 FLO.3K.N0._PAGE Page 297 of 557 SURVEYOR'S CERTIFICATE SCHOITZ ADDITION TO THE CITY OF WATERLOO, IOWA I, Brian M. Crawford, a licensed professional land surveyor in the State of Iowa, hereby certify that I made a survey of the property with the following description: Schoitz Addition being part of the SW 114 of the SW 114 of Section 35, Township 89 North, Range 13 West of the 5th P.M. including part of Sunset Hills Addition all in the City of Waterloo, Black Hawk County, Iowa described as: Coinmencing at the SW Comer of Lot 37 of Sunset Hills Addition in the SW 114 of the SW 1/4 of Section 35, Township 89 North, Range 13 West of the 5th P.M., in the City of Waterloo, Black Hawk County, Iowa; thence S89°50'46"E, 386.00 feet to the SE Corner of Lot 42 of Sunset Hills Addition and the Point Of Beginning; thence N00°59'43"W, 100.09 feet to the south line of Acadia Street; thence along said south line S89°50'46"E, 254.74 feet to the NE Corner of Lot 46 of Sunset Hills Addition; thence S00°59'43"E, 338.23 feet; thence S89°51'24"E, 5.00 feet; thence S00°59'43"E, 90.00 feet; thence S89°51'24"E, 20.00 feet; thence S00°59'43"E, 255.00 feet to the north line of East Ridgeway Avenue; thence along said north line N89'5 1'24"W, 648.68 feet; thence N45°59'43"W, 19.87 feet to the east line of Kimball Avenue; thence along said east line N00°59'43"W, 224.13 feet; thence S89°00'17"W, 3.00 feet; thence N00°59'43"W, 151.55 feet; thence S89°51'24"E, 190.62 feet; thence N00°59'43"W, 13.00 feet; thence S89051'24"E, 124.24 feet; thence N00°59'43"W 111.04 feet; thence N45°09'14"E, 98.64 feet to the Point of Beginning. Described land contains 7.88 acres and is subject to easements and restrictions of record. The foregoing described real estate is to be hereinafter known and designated as "SCHOITZ ADDITION TO THE CITY OF WATERLOO, IOWA". I fiirther certify that the accompanying plat is a true representation thereof in accordance with my field notes of said survey, has been prepared in accordance with the laws of the State of Iowa relating thereto, and the figures in said plat representing distances are in feet and decimals of feet. I further certify that said survey and plat contain and show any and all surplus and any and all deficiencies from former surveys of record. Dated this day of November, 2021 Brian M. Crawford Licensed Professional Land Surveyor Iowa License No. 17344 Registration Expires December 31, 2022 Page 298 of 557 CITY OF WATERLOO , IOWA EN+GINEERIN,,G DEPARTMENT ` 715 Mulberry St. ° waterloo,[A 50703 .Phone(319)291-4312 Fax(319)291-4262 ° Entail:city.engineerCwaterloo-ia.org JAMIE KNUTSON,PE • City Engineer October 25, 2021 Aric Schroeder, City Planner Planning, Programming & Zoning Commission Waterloo City Hall Waterloo, IA 50703 RE: FINAL PLAT SCHOITZ ADDITION Dear Aric: This final plat has been reviewed, and it has been determined that it meets the requirements of the applicable portions of Section 3, 4 and 5 of Ordinance 2997, Subdivision Ordinance. It is recommended that this final plat be approved. Sincerely, Dennis J. Gentz, P.E. Assistant City Engineer WERE WORKING FOR YOU! An Equal Opportunity/Affirmative Action Employer Page 299 of 557 CITY OF WATERLOO PLANNING AND ZONING COMMISSION REQUEST FOR PLATTING (FINAL) 1.APPLICATION INFORMATION: a. Applicant's Name(please print): 0 16V41mtrAs Address: '39� h r-kc+o U Phone: 3 t 9 - Z46 - +3 S'1 City: U dwr f-k% State: iA Zip: S-003 Email: b. Status of Applicant: (a) Owner(b)Other(CHECK ONE): if other explain: o k c. Property Owner's Name if different than above (please print): o I Cr }y r Address: 3 2 ok :- %k Phone: S%9 - 'Zrl L— go oo City: - C State: T Ot Zip: 5-0-7()'L 2. PREPARER INFORMATION: a. Preparer's Business Name (plea print). C E 0 0eS�M n�S LAG Primary Preparer's Name: -TGf Phone: 31� _Z 5 b- 415-Z E-mail: S kt'-V_�PF'A 3. PROPERTY INFORMATION: a. Name of Plat: Gy10 Az ti�► b. General Location of Property: l a ti IGS r�ba 1 ve.. c. Area of Proposed Plat: -7. B A JAcmr. d. Area of Proposed Plat to be dedicated/conveyed to the City: e. Value of area to be dedicated/conveed to the City: er f. Zoning District(s): 3 4, �� �' •}- 1 � Loki 4. OTHER DOCUMENTATION: p� a. Date of Preliminary Plat Approval: P&Z 0 ..21 City Council b. Six(6) copies of the Final Plat which are in conformance with Section 11-3-3 of the Subdivision Ord. (also submit a digital copy of the plat in PDF format) c. Three(3)copies of Deed of Dedication(must be original signatures) d. Three (3)copies of all Contract, Petition and Waiver forms(must be original signatures) e. Three(3)copies of Certificate of Survey (must be original signatures) 5. PUBLIC IMPROVEMENTS a. Costs for any public improvements: _Estimate_Actual Total Cost Storm Sewer $ Sanitary Sewer $ Paving $ Land Dedicated $ TOTAL The Request Fee of$215 + $10 per lot (payable to the City of Waterloo) is required. This fee is non-refundable. Under no condition shall said sum or any part thereof be refunded for failure of said request to be approved.Any major change in any of the information given will require that the request go back through the process, with a new Request Fee. The undersigned certify under oath and penalty of perjury that all information on this request and submitted along with it is true and correct. All information will be used by the Waterloo Planning, Programming, and Zoning Commission and the Waterloo City Council in making their decision.The undersigned authorize City Zoning Officials to enter the property in question in regards to the request. & 21 Si re of Applicant Dat Signature of Owner Date Page 300 of 557 CITY OF WATERLOO Council Communication Resolution directing the advertisement for sale of$14,200,000 Taxable General Obligation Bonds, Series 2022A, setting sale date as December 1, 2021, and approving electronic bidding procedures and the distribution of the Preliminary Official Statement for the sale. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ Council Comm Direct Bond Sale 2022A Backup Material ❑ Official Statement for Dec 1 2021 Bond Sale Backup Material Resolution directing the advertisement for sale of$14,200,000 Taxable SUBJECT: General Obligation Bonds, Series 2022A, setting sale date as December 1, 2021, and approving electronic bidding procedures and the distribution of the Preliminary Official Statement for the sale. Submitted by: Submitted By: Michelle Weidner, Chief Financial Officer We are planning to sell$14,200,000 in new taxable general obligation bonds for the theme park. The interest will be taxable for federal income tax purposes. Summary Statement: The par amount is subject to adjustment according to the terms of the offering. The final sale amount may be different depending on the bid price received at the sale. Neighborhood Impact: The preliminary Official Statement is included for your review and approval. Data/Analysis and Strategies: The issuance of bonds commits the city to future repayment. Implementation,Accountability, Repayment will be made from a variety of sources, primarily tax increment and Communication: revenue and also including including hotel motel taxes. Expenditure Required/Source of Principal and interest are required to be repaid. Funds: Alternative: Page 301 of 557 CITY OF WATERLOO , IOWA CITY CLERK AND FINANCE DEPARTMENT KELLEY FELCHLE • City Clerk MICHELLE WEIDNER,CPA • Chief Financial Officer Council Communication Mayor City Council Meeting: November 15, 2021 QUENTIN Prepared: November 3, 2021 HART Dept. Head Signature: Michelle Weidner, Chief Financial Officer COUNCIL Number of Attachments: None MEMBERS ..................• SUBJECT: FYE2021 Bond Issues - Direction to Advertise Sale of $14,200,000 General Obligation Bonds, Series 2022A MARGARET KLEIN Submitted by: Michelle Weidner, Chief Financial Officer Ward I Recommended City Council Actions: Adopt a Resolution directing the JONATHAN advertisement for sale of $14,200,000 General Obligation Bonds, Series 2022A; GRIEDER setting the sale date as December 1, 2021; approving electronic bidding Ward procedures and the distribution of the Official Statement for the sales. PAR ISSICK Summary Statement: This bond issue is for the theme park. Series 2022A Ward will be taxable for federal tax purposes for bondholders. JEROME The par amount is subject to adjustment according to the terms of the offering. AMOS,JR. The final principal amount may be different depending on the bid price received at Ward the sale. RAY Expenditure Required: Principal and interest are required to be repaid. REUSS Ward S Source of Funds: Repayment will be made from a variety of sources, SHARON primarily tax increment financing revenue and hotel motel taxes. NON At-Large Policy Issue: The issuance of bonds commits the city to future DAVE repayment. BOESEN At-Large Background Information: N/A WE'RE WORKING FOR YOU! An Equal Opportunity/Affirmative Action Employer Page 302 of 557 New Issue Investment Rating: Date of Sale: Wednesday,December 1,2021 (Alternate Bid Methods) Moody's Investors Service... Between 10:00 and 10:30 A.M.,C.S.T.(Closed SpeerAuction) (Rating Requested) Before 10:30 A.M.,C.S.T. (Sealed Bids) Official Statement In the opinion ofAhlers&Cooney,P.C.,Bond Counsel, under present law interest on the Bonds is includable in gross income of the owners thereof for purposes of present federal income taxation. In the opinion of Bond Counsel,interest on the Bonds is excluded from gross income for State of Iowa income tax purposes. As more fully discussed under the heading"TAXABILITY OF INTEREST"herein. $14,200,000* CITY OF WATERLOO Black Hawk County,Iowa Taxable General Obligation Urban Renewal Bonds, Series 2022A Dated Date of Delivery Book-Entry State of Iowa Tax-Exempt Due Serially June 1,2023-2041 The $14,200,000* Taxable General Obligation Urban Renewal Bonds, Series 2022A (the "Bonds") are being issued by the City of Waterloo, Black Hawk County, Iowa(the "City"). Interest is payable semiannually on June 1 and December 1 of each year, commencing December 1, 2022. Interest is calculated based on a 360-day year of twelve 30-day months. The Bonds will be issued using a book-entry system. The Depository Trust Company("DTC"),New York,New York,will act as securities depository for the Bonds. The ownership of one fully registered Bond for each maturity will be registered in the name of Cede & Co., as nominee for DTC and no physical delivery of Bonds will be made to purchasers. The Bonds will mature on June 1 in the following years and amounts. AMOUNTS*,MATURITIES,INTEREST RATES,PRICES OR YIELDS AND CUSIP NUMBERS Principal Due Interest Price or CUSIP Principal Due Interest Price or CUSIP Amount` June 1 Rate Yield Number(1) Amount' June 1 Rate Yield Number(1) $ 720,000......... 2023 % % $815,000........... 2033 % % 1,035,000......... 2024 % % 835,000........... 2034 % % 1,045,000......... 2025 % % 850,000........... 2035 % % 1,260,000......... 2026 % % 805,000........... 2036 % % 175,000......... 2027 % % 820,000........... 2037 % % 205,000......... 2028 % % 835,000........... 2038 % % 300,000......... 2029 % % 855,000........... 2039 % % 465,000......... 2030 % % 870,000........... 2040 % % 620,000......... 2031 % % 885,000........... 2041 805,000......... 2032 % % Any consecutive maturities may be aggregated into term bonds at the option of the bidder,in which case the mandatory redemption provisions shall be on the same schedule as above. OPTIONAL REDEMPTION Bonds due June 1,2023 -2030, inclusive, are not subject to optional redemption. Bonds due June 1,2031 -2041, inclusive, are callable in whole or in part on any date on or after June 1,2030,at a price of par and accrued interest. If less than all the Bonds are called,they shall be redeemed in such principal amounts and from such maturities as determined by the City and within any maturity by lot. See"OPTIONAL REDEMPTION"herein. PURPOSE,LEGALITY AND SECURITY The proceeds of the Bonds are expected to be used to: (i)pay the costs of aiding in the planning undertaking and carrying out of urban renewal projects and(ii)pay the costs of issuing the Bonds. See"THE PROJECT"herein. In the opinion of Bond Counsel,Ahlers&Cooney,P.C.,Des Moines,Iowa,the Bonds will constitute valid and legally binding obligations of the City payable both as to principal and interest from ad valorem taxes levied against all taxable property within the corporate limits of the City without limitation as to rate or amount, all except as limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to the enforcement of creditors'rights generally and except that enforcement by equitable and similar remedies,such as mandamus,is subject to the exercise of judicial discretion. This Official Statement is dated November 16,2021,and has been prepared under the authority of the City. An electronic copy of this Official Statement is available from the www.speerfinancial.com web site under"Official Statement Sales Calendar". Additional copies may be obtained from Kelley Felchle, City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, Iowa, 50703, or from the Registered Municipal Advisors to the City. ffSpeer Financial, Inc. EPENDENT MUNICIPAL ADVISORS•ESTABLISHED 1954 230 WEST MONROE STREET,SUITE 2630•CHICAGO,ILLINOIS 60606 Telephone:(312)346-3700•Facsimile:(312)346-8833 531 COMMERCIAL STREET,SUITE 608•WATERLOO,IOWA 50701 Telephone:(319)291-2077•Facsimile:(319)291-8628 *Subject to principal adjustment in accordance with the Official Terms of Offering. (1)CUSIP numbers appearing in this Official Statement have been provided by the CUSIP Service Bureau,which is managed on behalfoftheAmerican Bankers Association by S&P Capital IQ,'Pt§bJJ3df5 ' i0 " ' t7 Inc. The City is not responsible for the selection of CUSIP numbers and makes no representation as to their correctness on the Bonds or as sed forth on the cover of this Official Stadement. VV JJ V I J J For purposes of compliance with Rule 15c2-12 of the Securities and Exchange Commission,this document, as the same may be supplemented or corrected by the City from time to time (collectively, the "Official Statement"), may be treated as an Official Statement with respect to the Bonds described herein that is deemed near final as of the date hereof (or the date of any such supplement or correction)by the City. The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts and interest rates of the Bonds,together with any other information required by law or deemed appropriate by the City, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defined in Rule 15c2-12. Any such addendum or addenda shall, on and after the date thereof, be fully incorporated herein and made a part hereof by reference. Alternatively, such final terms of the Bonds and other information may be included in a separate document entitled"Final Official Statement"rather than through supplementing the Official Statement by an addendum or addenda. No dealer,broker,salesman or other person has been authorized by the City to give any information or to make any representations with respect to the Bonds other than as contained in the Official Statement or the Final Official Statement and, if given or made, such other information or representations must not be relied upon as having been authorized by the City. Certain information contained in the Official Statement and the Final Official Statement may have been obtained from sources other than records of the City and, while believed to be reliable, is not guaranteed as to completeness. THE INFORMATION AND EXPRESSIONS OF OPINION IN THE OFFICIAL STATEMENT AND THE FINAL OFFICIAL STATEMENT ARE SUBJECT TO CHANGE,AND NEITHER THE DELIVERY OF THE OFFICIAL STATEMENT OR THE FINAL OFFICIAL STATEMENT NOR ANY SALE MADE UNDER EITHER SUCH DOCUMENT SHALL CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE CITY SINCE THE RESPECTIVE DATES THEREOF. References herein to laws,rules,regulations, ordinances,resolutions, agreements,reports and other documents do not purport to be comprehensive or definitive. All references to such documents are qualified in their entirety by reference to the particular document,the full text of which may contain qualifications of and exceptions to statements made herein. Where full texts have not been included as appendices to the Official Statement or the Final Official Statement, they will be furnished on request. This Official Statement does not constitute an offer to sell, or solicitation of an offer to buy, any securities to any person in any jurisdiction where such offer or solicitation of such offer would be unlawful. Page 304 of 557 TABLE OF CONTENTS Page BONDISSUE SUMMARY.................................................................................................................................................... 1 SECURITY AND SOURCE OF PAYMENT........................................................................................................................2 BONDHOLDERS' RISKS.....................................................................................................................................................3 PotentialImpact of The Coronavirus..................................................................................................................................3 SecondaryMarket...............................................................................................................................................................3 RatingsLoss........................................................................................................................................................................4 RedemptionPrior to Maturity.............................................................................................................................................4 Forward-Looking Statements..............................................................................................................................................4 DTC-Beneficial Owners.....................................................................................................................................................4 Pensionand OPEB Benefits................................................................................................................................................5 ContinuingDisclosure........................................................................................................................................................6 Cybersecurity......................................................................................................................................................................6 Suitabilityof Investment.....................................................................................................................................................7 Bankruptcyand Insolvency.................................................................................................................................................7 Legislation...........................................................................................................................................................................7 Lossof Tax Base.................................................................................................................................................................8 TaxLevy Procedures..........................................................................................................................................................8 Federal Funds Orders and State Funds Legislation.............................................................................................................8 Audit...................................................................................................................................................................................8 OtherFactors.......................................................................................................................................................................8 THECITY..............................................................................................................................................................................9 CityOrganization and Services...........................................................................................................................................9 CommunityLife..................................................................................................................................................................9 Education............................................................................................................................................................................9 Transportation................................................................................................................................................................... 10 RecentEconomic Development........................................................................................................................................ 10 SOCIOECONOMICINFORMATION................................................................................................................................ 11 Population......................................................................................................................................................................... 11 Employment...................................................................................................................................................................... l l BuildingPermits............................................................................................................................................................... 13 Housing............................................................................................................................................................................. 13 Income............................................................................................................................................................................... 14 Agriculture........................................................................................................................................................................ 14 LocalOption Sales Tax..................................................................................................................................................... 15 RetailSales........................................................................................................................................................................16 THEPROJECT.....................................................................................................................................................................16 DEFAULTRECORD...........................................................................................................................................................16 SHORT-TERM BORROWING ...........................................................................................................................................16 DEBTINFORMATION.......................................................................................................................................................17 DebtLimitation.................................................................................................................................................................17 PROPERTY ASSESSMENT AND TAX INFORMATION................................................................................................21 PropertyTax Assessment..................................................................................................................................................21 PropertyTax Collection....................................................................................................................................................21 LevyLimits.......................................................................................................................................................................23 TaxLevy Procedures........................................................................................................................................................24 UtilityProperty Tax Replacement....................................................................................................................................24 TaxIncrement Financing..................................................................................................................................................25 Legislation.........................................................................................................................................................................25 FINANCIAL INFORMATION............................................................................................................................................26 FinancialReports..............................................................................................................................................................26 No Consent or Updated Information Requested of the Auditor........................................................................................26 Summary Financial Information.......................................................................................................................................27 REGISTRATION,TRANSFER AND EXCHANGE...........................................................................................................30 (1) Page 305 of 557 TAXMATTERS...................................................................................................................................................................31 Taxabilityand Related Considerations.............................................................................................................................31 Stateof Iowa Tax Exemption............................................................................................................................................31 Tax Accounting Treatment of Discount and Premium on Certain Taxable Bonds...........................................................31 OtherTax Advice..............................................................................................................................................................32 Enforcement......................................................................................................................................................................32 Opinion.............................................................................................................................................................................32 CONTINUINGDISCLOSURE............................................................................................................................................33 OPTIONALREDEMPTION................................................................................................................................................33 LITIGATION........................................................................................................................................................................33 LEGALMATTERS..............................................................................................................................................................34 OFFICIAL STATEMENT AUTHORIZATION..................................................................................................................34 INVESTMENTRATING.....................................................................................................................................................34 UNDERWRITING ...............................................................................................................................................................35 MUNICIPALADVISOR......................................................................................................................................................35 MISCELLANEOUS.............................................................................................................................................................35 APPENDIX A-FISCAL YEAR 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT APPENDIX B -DESCRIBING BOOK-ENTRY-ONLY ISSUANCE APPENDIX C -DRAFT FORM OF BOND COUNSEL OPINION APPENDIX D -DRAFT FORM OF CONTINUING DISCLOSURE CERTIFICATE OFFICIAL BID FORM OFFICIAL TERMS OF OFFERING ��� Page 306 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A BOND ISSUE SUMMARY This Bond Issue Summary is expressly qualified by the entire Official Statement, including the Official Terms of Offering and the Official Bid Form,which are provided for the convenience of potential investors and should be reviewed in their entirety by potential investors. Issuer: City of Waterloo,Black Hawk County,Iowa. Issue: $14,200,000* Taxable General Obligation Urban Renewal Bonds, Series 2022A. Dated Date: Date of delivery(expected to be on or about January 4,2022). Interest Due: Each June 1 and December 1,commencing December 1,2022. Principal Due: Serially each June 1,commencing June 1,2023 through 2041,as detailed on the cover page of this Official Statement. Optional Redemption: Bonds maturing on or after June 1, 2031, are callable at the option of the City on any date on or after June 1,2030,at a price of par plus accrued interest. See"OPTIONAL REDEMPTION"herein. Authorization: The Bonds are being issued pursuant to authority established in Code of Iowa,2021 as amended, Chapters 384 and 403 (the "Act"), and all laws amendatory thereof and supplementary thereto, and in conformity with a resolution (the "Resolution" or the "Bond Resolution")of the City duly passed and approved. Security: The Bonds are valid and legally binding obligations of the City payable both as to principal and interest from ad valorem taxes levied against all taxable real property therein without limitation as to rate or amount, all except as limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to the enforcement of creditors' rights generally and except that enforcement by equitable and similar remedies, such as mandamus, is subject to the exercise of judicial discretion. Investment Rating: An investment rating for the Bonds has been requested from Moody's Investors Service,New York,New York. See"INVESTMENT RATING"herein. Purpose: The proceeds of the Bonds will be used to: (i)pay the costs of aiding in the planning undertaking and carrying out of urban renewal projects and(ii)pay the costs of issuing the Bonds. See"THE PROJECT"herein. Tax Matters: The interest to be paid on the Bonds is subject to federal income taxes as discussed under"TAXABILITY OF INTEREST"in the Official Statement. In the opinion of Bond Counsel,the interest to be paid on the Bonds is excluded from gross income for State of Iowa income tax purposes to the extent discussed under"TAXABILITY OF INTEREST" herein. See APPENDIX C for a draft form of legal opinion for the Bonds. Not Bank Qualified: The Bonds are not"qualified tax-exempt obligations"under Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. Bond Registrar/Paying Agent: UMB Bank,n.a.,West Des Moines,Iowa(the"Registrar"). Delivery: The Bonds are expected to be delivered on or about January 4,2022. Book-Entry Form: The Bonds will be registered in the name of Cede&Co.as nominee for The Depository Trust Company("DTC"),New York,New York. DTC will act as securities depository of the Bonds. See APPENDIX B herein. Denomination: $5,000 or integral multiples thereof. Municipal Advisor: Speer Financial, Inc.,Waterloo,Iowa and Chicago,Illinois. *Subject to change. 1 Page 307 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A CITY OF WATERLOO Black Hawk County,Iowa Quentin M. Hart Mayor Council Members Jerome Amos,Jr. Dave Boesen Ray Feuss Jonathan Grieder Sharon Juon Margaret Klein Patrick Morrissey Officials Kelley Felchle Michelle Weidner, CPA Martin M. Petersen,Esq. City Clerk Chief Financial Officer City Attorney SECURITY AND SOURCE OF PAYMENT Pursuant to the Resolution and the Act, the Bonds and the interest thereon are general obligations of the City, and all taxable real property within the corporate boundaries of the City is subject to the levy of taxes to pay the principal of and interest on the Bonds without statutory limitation as to rate or amount. For a description of certain constitutional limits on the issuance of general obligation debt by the City, see"Debt Limitation"herein. Section 76.2 of the Act provides that when an Iowa political subdivision issues general obligation bonds, the governing authority of such political subdivision shall, by resolution adopted before issuing the bonds, provide for the assessment of an annual levy upon all the taxable property in the political subdivision sufficient to pay the interest and principal of the bonds. A certified copy of this resolution shall be filed with the County Auditor in which the City is located, giving rise to a duty of the County Auditor to annually enter this levy for collection from the taxable property within the boundaries of the City,until funds are realized to pay the bonds in full. For the purpose of providing for the levy and collection of a direct annual tax sufficient to pay the principal of and interest on the Bonds as the same become due, the Resolution provides for the levy of a tax sufficient for that purpose on all the taxable property in the City in each of the years while the Bonds are outstanding. The City shall file a certified copy of the Resolution with the County Auditor,pursuant to which the County Auditor is instructed to enter for collection and assess the tax authorized. When annually entering such taxes for collection, the County Auditor shall include the same as a part of the tax levy for Debt Service Fund purposes of the City and when collected, the proceeds of the taxes shall be deposited into the Debt Service Fund of the City and set aside therein as a special account to be used solely and only for the payment of the principal of and interest on the Bonds and for no other purpose whatsoever. 2 Page 308 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Nothing in the Resolution authorizing the Bonds prohibits or limits the ability of the City to use legally available moneys other than the proceeds of the general ad valorem property taxes levied as described in the preceding paragraph to pay all or any portion of the principal of or interest on the Bonds. If and to the extent such other legally available moneys are used to pay the principal of or interest on the Bonds,the City may,but shall not be required to,(a)reduce the amount of taxes levied for such purpose, as described in the preceding paragraph; or(b)use proceeds of taxes levied, as described in the preceding paragraph,to reimburse the fund or account from which such other legally available moneys are withdrawn for the amount withdrawn from such fund or account to pay the principal of or interest on the Bonds. BONDHOLDERS' RISKS An investment in the Bonds involves an element of risk. In order to identify risk factors and make an informed investment decision, potential investors should be thoroughly familiar with this entire Official Statement (including the appendices hereto)in order to make a judgement as to whether the Bonds are an appropriate investment. Potential Impact of The Coronavirus Beginning in early 2020, a strain of coronavirus commonly known as COVID-19 began to spread globally, negatively affecting global,state,and local economies.Federal, State,and local officials have taken steps to curb the spread of the virus, including providing both discretionary and mandatory guidelines and orders regarding public gatherings, and imposing mandatory closings of some businesses. The State of Iowa may suffer material adverse consequences from the continued spread of COVID-19,which could affect the amount of State revenues appropriated to municipalities,including the City.Future tax and other revenue collections,property valuations and other revenue sources dependent on local business activity,which is likely to be slower,may deviate from historical or anticipated collections.In fiscal year 2021 (ending June 30,2021),the City experienced a decrease in hotel/motel tax revenues,but an increase in local option sales tax collections. Additionally,property tax collections are comparable to collections prior to the pandemic. Certain city-owned recreational facilities experienced reduced revenues but expenses were adjusted, where possible, to accommodate those reduced revenues. The City has not experienced any significant delays or delinquencies in property tax payments. Overall,the City did not experience material reductions in revenue or material increases in expenses in fiscal year 2020 due to material COVID-19-related financial impacts and currently expects that any material COVID-19-related financial impacts are expected to be covered by federal funding. In fiscal year 2021,the City received over$1.6 million in CARES Act funds, which supplemented public safety salaries. The City received$15.1 million in Recovery Act funds, in May 2021,with a similar amount expected to be received in May 2022.The spread of COVID-10 continues to be an evolving issue and the City cannot predict whether continued spread of the disease will materially impact its financial condition, including the collection of property tax revenues in fiscal year 2022 or beyond. The Bonds are secured by an unlimited ad valorem property tax. See"SECURITY AND SOURCE OF PAYMENT FOR THE BONDS"herein. This information is based on current information available to the City that may be incomplete and unknown. This information was derived using certain assumptions and methodologies and includes unaudited financial information and projections. Some of this information is forward-looking and subject to change. Secondary Market There can be no guarantee that there will be a secondary market for the Bonds or, if a secondary market exists,that such Bonds can be sold for any particular price. Occasionally, because of general market conditions or because of an adverse history of economic prospects connected with a particular issue, secondary marketing practices in connection with a particular bond or note issue are suspended or terminated. Additionally,prices of bond or note issues for which a market is being made will depend upon then prevailing circumstances. Such prices could be substantially different from the original purchase price of the Bonds. 3 Page 309 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A EACH PROSPECTIVE PURCHASER IS RESPONSIBLE FOR ASSESSING THE MERITS AND RISKS OF AN INVESTMENT IN THE BONDS AND MUST BE ABLE TO BEAR THE ECONOMIC RISK OF SUCH INVESTMENT. THE SECONDARY MARKET FOR THE BONDS, IF ANY, COULD BE LIMITED. Ratings Loss Moody's Investors Service, Inc. ("Moody's") has assigned a rating of" " to the Bonds. Generally, a rating agency bases its rating on the information and materials furnished to it and on investigations, studies and assumptions of its own. There is no assurance that the rating will continue for any given period of time,or that such rating will not be revised, suspended or withdrawn, if, in the judgment of Moody's, circumstances so warrant. A revision, suspension or withdrawal of a rating may have an adverse effect on the market price of the Bonds. Various factors, including additional regulation of rating agencies could materially alter the methodology, rating levels, and types of ratings available, for example, and these changes, if ever, could materially affect the market value of the Bonds. Redemption Prior to Maturity In considering whether to make an investment in the Bonds, it should be noted the Bonds are subject to optional redemption, as outlined herein,without Bondholder discretion or consent. See"OPTIONAL REDEMPTION"herein. Forward-Looking Statements This Official Statement contains statements relating to future results that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When used in this Official Statement,the words"estimate," "forecast,""intend,""expect"and similar expressions identify forward-looking statements. Any forward-looking statement is subject to uncertainty. Accordingly, such statements are subject to risks that could cause actual results to differ,possibly materially, from those contemplated in such forward-looking statements. Inevitably, some assumptions used to develop forward-looking statements will not be realized or unanticipated events and circumstances may occur. Therefore,investors should be aware that there are likely to be differences between forward-looking statements and the actual results. These differences could be material and could impact the availability of funds of the City to pay debt service when due on the Bonds. DTC-Beneficial Owners Beneficial Owners of the Bonds may experience some delay in the receipt of distributions of principal of and interest on the Bonds since such distributions will be forwarded by the Paying Agent to DTC and DTC will credit such distributions to the accounts of the Participants which will thereafter credit them to the accounts of the Beneficial Owner either directly or indirectly through indirect Participants. Neither the City nor the Paying Agent will have any responsibility or obligation to assure that any such notice or payment is forwarded by DTC to any Participants or by any Participant to any Beneficial Owner. In addition,since transactions in the Bonds can be effected only through DTC Participants,indirect participants and certain banks,the ability of a Beneficial Owner to pledge the Bonds to persons or entities that do not participate in the DTC system,or otherwise to take actions in respect of such Bonds,may be limited due to lack of a physical certificate. Beneficial Owners will be permitted to exercise the rights of registered Owners only indirectly through DTC and the Participants. See APPENDIX B—Describing Book-Entry Only Issuance. 4 Page 310 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Pension and OPEB Benefits The City participates in two employee retirement systems,the Iowa Public Employee's Retirement System(IPERS) and the Municipal Fire and Police Retirement System of Iowa(MFPRSI). In fiscal year 2020,pursuant to the IPERS'required rate,the City's Regular employees(members)contributed 6.29% of covered payroll and the City contributed 9.44%of covered payroll, for a total rate of 15.73%. The City's contributions to IPERS for the year ended June 30,2020 were$1,769,401. The City's share of the contributions,payable from the applicable funds of the City, is provided by a statutorily authorized annual levy of taxes without limit or restriction as to rate or amount. The City has always made its full required contributions to IPERS. At June 30, 2020, the City reported a liability of$14,261,854 for its proportionate share of the IPERS net pension liability. The net pension liability was measured as of June 30,2019 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The discount rate used to measure the total pension liability was 7%. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all IPERS participating employers. While the City's contributions to IPERS are controlled by state law,there can be no assurance the City will not be required by changes in State law to increase its contribution requirement in the future, which may have the effect of negatively impacting the finances of the City. See "APPENDIX A—AUDITED FINANCIAL STATEMENTS OF THE ISSUER" for additional information on pension and liabilities of the City. In fiscal year 2020, pursuant to the MFPRSI's required rate, the City's employees (members) contributed 9.40% of earnable compensation and the City contributed 26.02%of covered payroll. The City's contributions to MFPRSI for the year ended June 30,2020 were$4,243,059. The City's share of the contributions,payable from the applicable funds of the City,is provided by a statutorily authorized annual levy of taxes without limit or restriction as to rate or amount. The City has always made its full required contributions to MFPRSI. At June 30,2020,the City reported a liability of$36,614,772 for its proportionate share of the MFPRSI net pension liability. The net pension liability was measured as of June 30,2019 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The discount rate used to measure the total pension liability was 7.5%. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all MFPRSI participating employers. While the City's contributions to MFPRSI are controlled by state law,there can be no assurance the City will not be required by changes in State law to increase its contribution requirement in the future, which may have the effect of negatively impacting the finances of the City. See "APPENDIX A — AUDITED FINANCIAL STATEMENTS OF THE ISSUER" hereto for additional information on pension and liabilities of the City Waterloo Water Works, a component unit of the City, contributes to the Waterloo Water Works Pension Plan (WWW Plan)and the Iowa Public Employees' Retirement System(IPERS). The WWW Plan is a single-employer defined benefit plan administered by the Pension Committee of Waterloo Water Works. The WWW Plan provides retirement benefits to plan members and beneficiaries. No new WWW Plan members were allowed after December 31, 2007. The WWW Plan does not issue a stand-alone financial report. However,the actuarial report on the Plan is held at the Waterloo Water Work's office. At December 31, 2019, the Water Works'recognized pension expense of$541,511. The Waterloo Water Works' contributions to IPERS for the year ended December 31, 2018 were $116,656. As December 31, 2019, the Waterloo Water Works' liability for its proportionate share of IPERS net pension liability totaled$951,791. The City operates a single-employer health care plan for all active and retired employees and their eligible dependents. Group insurance benefits are established under Iowa Code Chapter 509A.13. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. 5 Page 311 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A The following table shows the changes in the City's total OPEB liability: Total OPEB Liability as of June 30,2019.............................................. $20,264,728 Changes for the year Service Cost.......................................................................... 719,666 Interest.................................................................................. 698,071 Difference Between Actual and Expected Experience........... 2,028,724 Changes in Assumptions or Other Inputs.............................. 399,421 Contributions and Payments Made........................................ (2,079,011) NetChanges......................................................................................... 1.766.871 Total OPEB Liability as of June 30,2020.............................................. $22,031,599 See APPENDIX A—Notes (10) and (13) herein for further discussion of the City's employee retirement benefit obligations. Bond Counsel, Disclosure Council, the Municipal Advisor, and the City undertake no responsibility for and make no representations as to the accuracy or completeness of the information available from IPERS or MFPRSI discussed above or included on the IPERS or MFPRSI websites, including, but not limited to, updates of such information on the State Auditor's website or links to other Internet sites accessed through the IPERS or MFPRSI websites. Continuing Disclosure A failure by the City to comply with continuing disclosure obligations (see "CONTINUING DISCLOSURE" herein)will not constitute an event of default on the Bonds. Any such failure must be disclosed in accordance with Rule 15c2-12 (the "Rule") adopted by the Securities and Exchange Commission (the "Commission") under the Securities Exchange Act of 1934,as amended(the"Exchange Act"),and may adversely affect the transferability and liquidity of the Bonds and their market price. The City will covenant in a Continuing Disclosure Certificate for the benefit of the Owners and Beneficial Owners of the Bonds to provide annually certain financial information and operating data relating to the City(the"Annual Report"), and to provide notices of the occurrence of certain enumerated events. The Annual Report is to be filed by the City no later than two hundred seventy(270) days after the close of each fiscal year, commencing with the fiscal year ending June 30, 2021, with the Municipal Securities Rulemaking Board, at its internet repository named "Electronic Municipal Market Access" ("EMMA"). The notices of events, if any, are also to be filed with EMMA. See "APPENDIX D — FORM OF CONTINUING DISCLOSURE CERTIFICATE." The specific nature of the information to be contained in the Annual Report or the notices of events,and the manner in which such materials are to be filed,are summarized in"APPENDIX D —FORM OF CONTINUING DISCLOSURE CERTIFICATE." These covenants have been made in order to assist the Underwriter in complying with SEC Rule 15c2-12(b)(5) (the"Rule"). Cybersecurity The City, like many other public and private entities, relies on a large and complex technology environment to conduct its operations. As such, it may face multiple cybersecurity threats including but not limited to, hacking, viruses, malware and other attacks on computer or other sensitive digital systems and networks. There can be no assurances that any security and operational control measures implemented by the City will be completely successful to guard against and prevent cyber threats and attacks. Failure to properly maintain functionality, control, security, and integrity of the City's information systems could impact business operations and/or digital networks and systems and the costs of remedying any such damage could be significant. Along with significant liability claims or regulatory penalties, any security breach could have a material adverse impact on the City's operations and financial condition. The City has a Cyber-Liability Policy and Cyber-Breach Policy. The City cannot predict whether these policies will be sufficient in the event of a cyberattack. However, the Bonds are secured by an unlimited ad valorem property tax as described herein. See "SECURITY AND SOURCE OF PAYMENT"herein. 6 Page 312 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Suitability of Investment The interest rate borne by the Bonds is intended to compensate the investor for assuming the risk of investing in the Bonds. Each prospective investor should carefully examine this Official Statement and its own financial condition to make a judgment as to its ability to bear the economic risk of such an investment, and whether or not the Bonds are an appropriate investment for such investor. Bankruptcy and Insolvency The rights and remedies provided in the Resolution may be limited by and are subject to the provisions of federal bankruptcy laws,to other laws or equitable principles that may affect the enforcement of creditor's rights,to the exercise of judicial discretion in appropriate cases and to limitations in legal remedies against exercise of judicial discretion in appropriate cases and to limitations on legal remedies against municipal corporations in the State of Iowa. The various opinions of counsel to be delivered with respect to the Bonds and the Resolution, including the opinion of Bond Counsel, will be similarly qualified. If the City were to file a petition under chapter nine of the federal bankruptcy code,the owners of the Bonds could be prohibited from taking any steps to enforce their rights under the Resolution. In the event the City fails to comply with its covenants under the Resolution or fails to make payments on the Bonds,there can be no assurance of the availability of remedies adequate to protect the interests of the holders of the Bonds. Under sections 76.16 and 76.16A of the Code of Iowa, as amended, a city, county, or other political subdivision may become a debtor under chapter nine of the federal bankruptcy code,if it is rendered insolvent, as defined in 11 U.S.C. §101(32)(c), as a result of a debt involuntarily incurred. As used therein, "debt"means an obligation to pay money, other than pursuant to a valid and binding collective bargaining agreement or previously authorized bond issue, as to which the governing body of the city, county, or other political subdivision has made a specific finding set forth in a duly adopted resolution of each of the following: (1) that all or a portion of such obligation will not be paid from available insurance proceeds and must be paid from an increase in general tax levy; (2)that such increase in the general tax levy will result in a severe,adverse impact on the ability of the city,county, or political subdivision to exercise the powers granted to it under applicable law,including without limitation providing necessary services and promoting economic development; (3)that as a result of such obligation,the city,county,or other political subdivision is unable to pay its debts as they become due; and (4)that the debt is not an obligation to pay money to a city,county,entity organized pursuant to chapter 28E of the Code of Iowa,or other political subdivision. Legislation From time to time,there are proposals pending in Congress and in the Iowa Legislature that could,if enacted, alter or amend one or more of the matters described herein in certain respects or would adversely affect the market value of the Bonds. Further such proposals may impact the marketability or market value of the Bonds simply by being proposed. It cannot be predicted whether or in what forms any of such proposals, either pending or that may be introduced, may be enacted and there can be no assurance that such proposals will not apply to the Bonds. In addition regulatory actions are from time to time announced or proposed, and litigation threatened or commenced,which if implemented or concluded in a particular manner,could adversely affect the market value or marketability of the Bonds. It cannot be predicted whether any such regulatory action will be implemented,how any particular litigation or judicial action will be resolved,or whether the Bonds would be impacted thereby. During the 2019 legislative session,the Iowa General Assembly passed Senate File 634 which was later signed into law by the Governor. This bill modifies the process for hearing and approval of the total maximum property tax dollars under certain levies in the City budget,including levies for the General Fund,the Emergency Fund,Trust and Agency Funds for pensions,insurance,transit, civic centers,certain bridges, sanitary disposal,and emergency management. The bill also includes a provision that requires the affirmative vote of 2/3 of the City Council when the maximum property tax dollars under these levies exceed an amount determined under a prescribed formula. The bill does not change the process for hearing and approval of the Debt Service Levy pledged for repayment of the Bonds. It is too early to evaluate the effect this legislation will have on the overall financial position of the City or its ability to fund essential services. 7 Page 313 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Loss of Tax Base Economic and other factors beyond the City's control, such as economic recession,deflation of property values,or financial difficulty or bankruptcy by one or more major property taxpayers,or the complete or partial destruction of taxable property caused by, among other eventualities, earthquake, flood, fire or other natural disaster, could cause a reduction in the assessed value within the corporate boundaries of the City. In addition, the State of Iowa has been susceptible to tornados,flooding and other extreme weather wherein winds and flooding have from time to time caused significant damage, which if such events were to occur,may have an adverse impact on the City's financial position. The City believes it has employed adequate risk-mitigation strategies to limit future damage due to climate change or natural disaster, but it is impossible to predict the impact, cost or necessity of future recovery or mitigation efforts. Tax Levy Procedures The Bonds are general obligations of the City, payable from and secured by a continuing ad valorem tax levied against all of the taxable property valuation within the City. See "PROPERTY ASSESSMENT AND TAX INFORMATION" herein for more details. As part of the budgetary process each fiscal year, the City will have an obligation to request a debt service levy to be applied against all of the taxable property within the City. A failure on the part of the City to make a timely levy request or a levy request by the City that is inaccurate or is insufficient to make full payments of the debt service of the Bonds for a particular fiscal year may cause Bondholders to experience delay in the receipt of distributions of principal of and/or interest on the Bonds. In the event of a default in the payment of principal of or interest on the Bonds,there is no provision for acceleration of maturity of the principal of the Bonds. Consequently,the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the Resolution for the Bonds) may have to be enforced from year to year. Federal Funds Orders and State Funds Legislation Various federal executive orders,and Iowa Code Chapter 27A(collectively"ICE Enforcement Initiatives"),impose requirements intended to ensure compliance with the federal immigration detainment processes. The ICE Enforcement Initiatives impose various penalties for non-compliance, including the loss of state and/or federal funding under certain circumstances. The loss of state and/or federal funds in any significant amount could negatively impact the City's overall financial position and may affect its rating and could slow down completion of certain of the Projects. However,the Bonds are secured by an unlimited ad valorem property tax and are not secured by state or federal funds. See"SECURITY AND SOURCE OF PAYMENT"herein. Audit The City is currently under audit by the Iowa Auditor of State as a result of a petition signed by residents in April of 2019. The City has submitted all documents and information requested by the State Auditor's office but has not received notice of any reports. At this time the City has no reason to believe the audit will yield any adverse findings. Other Factors An investment in the Bonds involves an element of risk. The foregoing is intended only as a summary of certain risk factors attendant to an investment in the Bonds. In order for potential investors to identify risk factors and make an informed investment decision,potential investors should become thoroughly familiar with this entire Official Statement and the Appendices hereto. 8 Page 314 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A THE CITY The City is located in Northeastern Iowa. The City and the neighboring City of Cedar Falls are the primary urban centers in the region and in Black Hawk County(the"County"). The current land area of the City is almost 64 square miles. As of the 2020 Census, the City represented approximately 51% and Cedar Falls 31% of the County's population. According to the 2020 U.S. Census,the population of the City was 67,314. City Organization and Services The City was incorporated in 1868 and is the County Seat of Black Hawk County. The City is governed by a Mayor and a seven-member Council, of which five members are elected from five wards and two members are elected at large. City Council members are elected to staggered four-year terms. The Mayor is elected to a two-year term. The City Clerk and City Attorney are appointed by the City Council for two-year terms. The City's currently employs 518 full-time equivalent employees, including 114 sworn police officers and 110 firefighters. Various City employees are members of seven collective bargaining units. The Communication Workers of America represents City library staff, Teamsters Local 238, Affiliated with International Brotherhood of Teamsters, represents secretarial and clerical employees, the Police Protective Association represents police officers,the International Association of Fire Fighters Local 66 represents the fire department,and the Laborers International Union of North America, AFL-CIO Local No. 177 represents street,sewer and technician/inspection positions. The AFSCME represents two groups: police lieutenants and code enforcement officers and certain professional positions including engineers and planners. Contracts for all seven units are for four-year terms that will expire June 30,2023. The Fire Department has 30 fire trucks and special vehicles and operates out of six stations. City government and services are administered from City Hall. The City owns and operates the water works system and the sewage collection and secondary treatment system. The Water Works is organized as a separate entity, managed by a board of trustees appointed by the Mayor and the City Council. Community Life The City's 51 parks provide a diversified recreation program. Other recreation facilities include the SportsPlex,an indoor facility including turf, a running track, gyms, pool and fitness areas, two outdoor Olympic sized swimming pools, an outdoor spray water park, a baseball stadium, a softball complex, 23 softball diamonds, eight baseball diamonds, 27 tennis courts and an ice arena with an Olympic size sheet of ice,as well as a 115 acre soccer complex,an ATV park,a skate park and a dog park. There are five 18-hole golf courses,three of which are owned and operated by the City. The City has 60+ miles of recreational bike trails, an outdoor amphitheater and Expo Plaza. The Waterloo Symphony Orchestra and local professional baseball and hockey teams provide cultural and sports entertainment in the City. The Cedar Valley Sportsplex, a 130,000 square foot recreation facility, opened in January 2014. Features include a 30,000 square foot field house, a running track, basketball courts, pool area including lap lanes and a water slide, in addition to weight and cardio exercise areas. The facility is owned by a local development corporation and the City is acquiring it through a lease purchase agreement. It was built with$25 million in private donations. The City is responsible for the operation and maintenance of the facility. Education The Waterloo Community School District is the largest of the three school districts serving the City and has a total certified enrollment of 10,627 students for the 2020-2021 school year. Cedar Falls Community School District and Hudson Community School District have a combined enrollment of approximately 6,138. The public school system is supplemented by eight parochial schools including two high schools. 9 Page 315 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Hawkeye Community College, whose main campus is located in the City, offers more than 45 one-year and two- year programs for credit as well as business and community education classes. Hawkeye Community College has an enrollment of approximately 4,550 full-time equivalent students. College and graduate level degree programs are available from the University of Northern Iowa, located in adjacent Cedar Falls. The University of Northern Iowa has a fall 2020 enrollment of approximately 9,522 students and employs approximately 1,650. Other higher education opportunities in the area include Upper Iowa University(Waterloo Campus)which serves approximately 360 students,and Allen College which serves approximately 634 students in Waterloo. Transportation The City is located 267 miles west of Chicago,Illinois and 108 miles northeast of Des Moines,Iowa. It is accessible by U.S. Highways 218, 63, and 20, and State Highways 21, 57,and 281. Interstate 380 links the City with the southeastern area of the State and connects with Interstate 80. The Union Pacific Railroad, the Iowa Northern Railroad Company, and the Illinois Central Gulf Railroad(Canadian National)provide rail service. Many motor freight carriers operate out of the City with service to Chicago, Minneapolis, Kansas City, Omaha and other urban centers. Intercity bus transportation is available on five lines, and the City subsidizes the local transit service in order to provide frequent service. Waterloo Regional Airport(the"Airport") is a non-hub, primary commercial service airport offering commercial, corporate, and general aviation services. Recent Economic Development The City of Waterloo continues to prioritize the expansion of infrastructure for economic development infill and industrial/business park readiness. Some of the infrastructure has been the buildout for lots, serving of large commercial areas for water and sewer capacity, and others in the form of improvements to Highway 63, Shaulis Road, University Avenue, and plans for La Porte/Hess roads to pave the way for new investment. As a result,the City continues to see new private investment, hitting the City's 4th highest permit level at $141.06 million, and averaging $147.99 million the last three years. The City's Airport area has seen two new private hangars valued at over a$3 million investment. On the west side of the Airport,the City has recently opened up 300 acres of land with new roads,water, sewer,and electrical service. With over $1 million in State RISE funds to help build roads, there are over 10 new lots ready for development. CPM was approved for a new 140,000 sq. ft. $14 million manufacturing plant which is expected to be built in 2022. On the south and east sides of the Airport,there are five active projects in smaller infill lots. Citywide: ConTrol has opened a new 230,000 sq. ft. $16 million logistical facility at the Northeast Industrial Park. The new$104 million Lost Worlds Theme Park construction continues in the southeast part of the City. The Tech Works site has seen the new Lincoln Savings Bank$18 million investment in fintech business refurbish the top three floors of the Tech One Building,which continues the Tech Works Campus donated by Deere&Company for new business development. Downtown Waterloo is seeing the Convention Center come to life with over$8 million in improvements underway. In the former Rath area, Crystal Distribution is under construction of their 100,000 sq. ft. $12 million project, aided by a $1.7 million RISE grant for 11th Street Bridge improvements. The Deere Foundation has giving $2 million for nearby neighborhood improvements, the City continues to work with Habitat for Humanity, Hawkeye Community College, and private developers for a variety of new housing options from rehabs,to infill lots,to new subdivisions. 10 Page 316 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A SOCIOECONOMIC INFORMATION The following demographic information is for the City. Additional comparisons are made with the County and the State of Iowa(the"State"). Population The following table reflects population trends for the City,the County and the State. Population Comparison(1) The Percent The Percent The Percent Year Citv Change County Change State Change 1970..................... 75,533 n/a 132,916 n/a 2,824,376 n/a 1980..................... 75,985 0.60% 137,961 3.80% 2,913,808 3.17% 1990..................... 66,467 (12.53%) 123,798 (10.27%) 2,776,755 (4.70%) 2000..................... 68,747 3.43% 128,012 3.40% 2,926,324 5.39% 2010..................... 68,406 (0.50%) 131,090 2.40% 3,046,355 4.10% 2020..................... 67,314 (1.60%) 131,144 0.04% 3,190,369 4.73% Note: (1) Source: U.S.Bureau of the Census. Employment Following are lists of large employers located in the City and in the surrounding area. Major Area Employers(1) Approximate Location Name Product/Service Employment Waterloo...................................John Deere......................................................Manufacturing........................................................... 5,600 Waterloo...................................Tyson Fresh Meats..........................................Food Processing....................................................... 2,950 Waterloo...................................MercyOne........................................................Health Care............................................................... 2,655 Waterloo...................................Waterloo Community Schools..........................Public Education....................................................... 1,730 Cedar Falls...............................University of Northern Iowa..............................Higher Education...................................................... 1,650 Waterloo...................................Unity Point Health Care....................................Health Care............................................................... 1,500 Waterloo/Cedar Falls................Hy-Vee.............................................................Grocery Stores.......................................................... 1,200 Cedar Falls...............................Target Regional Distribution.............................Retail Distribution...................................................... 1,070 Waterloo...................................VGM Group......................................................Diversified................................................................. 1,055 Waterloo/Cedar Falls................Western Home Communities............................Health Care/Housing................................................. 960 Waterloo...................................Omega Cabinetry Ltd.......................................Manufacturing........................................................... 950 Cedar Falls...............................Cedar Falls Community Schools......................Public Education....................................................... 860 Waterloo...................................Bertch Cabinet Manufacturing..........................Manufacturing........................................................... 750 Cedar Falls...............................Martin Brothers Distributing..............................Food Distribution....................................................... 710 Waterloo...................................Hawkeye Community College..........................Higher Education...................................................... 700 Note: (1) Source: Grow Cedar Valley,selected telephone surveys and the 2021 Iowa Manufacturers database. The remainder of this page was left blank intentionally. 11 Page 317 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A The following tables show employment by industry and by occupation for the City, the County and the State as reported by the U.S. Census Bureau 2015 -2019 American Community Survey 5-year estimated values. Employment By Industry(]) The City The County The State Classification Number Percent Number Percent Number Percent Agriculture,forestry,fishing and hunting,and mining........................... 317 0.9% 963 1.4% 60,131 3.7% Construction........................................................................................ 1,788 5.3% 3,473 5.0% 103,928 6.4% Manufacturing...................................................................................... 7,292 21.9% 12,402 17.9% 240,510 14.9% Wholesale trade.................................................................................. 1,019 3.0% 1,928 2.8% 45,805 2.8% Retail trade.......................................................................................... 4,435 13.3% 9,395 13.6% 186,537 11.6% Transportation and warehousing,and utilities...................................... 1,529 4.6% 2,748 4.0% 78,935 4.9% Information.......................................................................................... 459 1.4% 856 1.2% 25,498 1.6% Finance and insurance,and real estate and rental and leasing............ 1,621 4.9% 3,802 5.5% 123,750 7.7% Professional,scientific,and management,and administrative and waste management services............................................................. 2,656 8.0% 5,310 7.7% 118,156 7.3% Educational services,and health care and social assistance............... 7,157 21.4% 17,724 25.6% 393,873 24.4% Arts,entertainment,and recreation,and accommodation and food services..................................................................................... 3,245 9.7% 6,630 9.6% 119,270 7.4% Other services,except public administration........................................ 1,193 3.6% 2,698 3.9% 68,012 4.2% Public administration........................................................................... 653 2.0% 1,256 1.8% 49,497 3.1% Total.................................................................................................. 33,364 100.0% 69,185 100.0% 1,613,902 100.0% Note: (1) Source: U.S.Bureau of the Census,American Community Survey 5-Year Estimates from 2015-2019. Employment By Occupation(]) The City The County The State Classification Number Percent Number Percent Number Percent Management,business,science,and arts occupations....................... 9,112 27.3% 22,016 31.8% 585,013 36.2% Service occupations............................................................................ 6,051 18.1% 12,979 18.8% 262,868 16.3% Sales and office occupations............................................................... 6,795 20.4% 15,166 21.9% 333,318 20.7% Natural resources,construction,and maintenance occupations........... 2,495 7.5% 5,069 7.3% 153,908 9.5% Production,transportation,and material moving occupations.............. 8,911 26.7% 13,955 20.2% 278,795 17.3% Total.................................................................................................. 33,364 100.0% 69,185 100.0% 1,613,902 100.0% Note: (1) Source: U.S.Bureau of the Census,American Community Survey 5-Year Estimates from 2015-2019. The following shows the annual average unemployment rates for the City, the County, the State and the United States. Annual Average Unemployment Rates(1)(2) Calendar The The The United Year Citv County State States 2012........................ 6.4% 5.4% 5.0% 8.1% 2013........................ 6.0% 5.1% 4.7% 7.4% 2014........................ 5.8% 4.9% 4.2% 6.2% 2015........................ 5.5% 4.6% 3.8% 5.3% 2016........................ 5.4% 4.6% 3.6% 4.9% 2017........................ 4.6% 3.8% 3.1% 4.4% 2018........................ 3.4% 2.5% 2.4% 3.9% 2019........................ 4.1% 3.2% 2.8% 3.5% 2020(3).................... 7.6% 6.2% 5.3% 8.1% 2021(4).................... 5.3% 4.3% 3.8% 5.3% Notes: (1) Source: Iowa Workforce Development and U.S.Bureau of Labor Statistics. (2) Not seasonally adjusted. (3) The increase in unemployment rates may be attributable to the COVID-19 pandemic. See"BONDHOLDERS RISKS-COVID-19"herein. (4) Preliminary rates for the month of August 2021. 12 Page 318 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Building Permits Shown below is the trend of building permits issued by the City. City Building Permits(]) (Excludes the Value of Land) Fiscal Residential Total Total Year Permits Permits Value 2013.................................. 110 8,682 $ 91,192,766 2014.................................. 216 9,969 112,406,047 2015.................................. 129 10,479 109,637,260 2016.................................. 218 10,867 121,493,169 2017.................................. 164 9,704 107,888,474 2018.................................. 55 8,483 104,700,306 2019.................................. 314 7,124 142,264,758 2020.................................. 98 7,013 161,102,460 2021.................................. 63 7,062 140,629,305 2022(2)............................. 10 2,086 21,615,016 Notes: (1) Source: the City. (2) Through September 2021. Housing The U.S.Census Bureau 5-year estimated values reported that the median value of the City's owner-occupied homes was $117,400. This compares to $147,500 for the County and$147,800 for the State. The following table represents the five year average market value of specified owner-occupied units for the City,the County and the State at the time of the 2015 -2019 American Community Survey. Home Values(]) The City The County The State Value Number Percent Number Percent Number Percent Less than$50,000............................... 1,823 10.6% 2,506 7.2% 79,312 8.8% $50,000 to$99,999.............................. 4,988 29.0% 6,789 19.6% 187,081 20.8% $100,000 to$149,999.......................... 4,725 27.4% 8,448 24.4% 191,070 21.2% $150,000 to$199,999.......................... 3,088 17.9% 7,210 20.8% 156,091 17.4% $200,000 to$299,999.......................... 1,708 9.9% 5,955 17.2% 164,192 18.3% $300,000 to$499,999.......................... 661 3.8% 2,961 8.5% 92,482 10.3% $500,000 to$999,999.......................... 185 1.1% 616 1.8% 23,930 2.7% $1,000,000 or more............................. 51 0.3% 160 0.5% 5,065 0.5% Total.................................................. 17,229 100.0% 34,645 100.0% 899,223 100.0% Note: (1) Source: U.S.Bureau of the Census,American Community Survey 5-year estimates 2015-2019. Mortgage Status(]) The CitV The County The State Mortgage Status Number Percent Number Percent Number Percent Housing units with a mortgage............. 10,725 62.2% 21,538 62.291. 544,728 60.6% Housing units without a mortgage........ 6.504 37.8% 13.107 37.8% 354,495 39.4% Total.................................................. 17,229 100.0% 34,645 100.0% 899,223 100.0% Note: (1) Source: U.S.Bureau of the Census,American Community Survey 5-year estimates 2015-2019. 13 Page 319 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Income The U.S. Census Bureau 5-year estimated values reported that the City had a median family income of$59,567. This compares to$72,400 for the County and$77,099 for the State. The following table represents the distribution of family incomes for the City,the County and the State at the time of the 2015 -2019 American Community Survey. Family Income(]) The City The County The State Income Number Percent Number Percent Number Percent Less than$10,000............................... 857 5.1% 1,292 4.1% 22,636 2.8% $10,000 to$14,999.............................. 527 3.2% 759 2.4% 14,901 1.9% $15,000 to$24,999.............................. 1,412 8.4% 1,862 5.9% 41,343 5.1% $25,000 to$34,999.............................. 1,752 10.5% 2,556 8.1% 54,569 6.8% $35,000 to$49,999.............................. 2,483 14.9% 3,936 12.5% 93,819 11.7% $50,000 to$74,999.............................. 3,218 19.2% 5,925 18.9% 160,975 20.1% $75,000 to$99,999.............................. 2,472 14.8% 5,143 16.4% 139,580 17.4% $100,000 to$149,999.......................... 2,582 15.4% 6,127 19.5% 164,129 20.4% $150,000 to$199,999.......................... 680 4.1% 1,916 6.1% 59,624 7.4% $200,000 or more................................ 737 4.4% 1,914 6.1% 51.250 6.4% Total.................................................. 16,720 100.0% 31,430 100.0% 802,826 100.0% Note: (1) Source: U.S.Bureau of the Census,American Community Survey 5-year estimates 2015 to 2019. The U.S.Census Bureau 5-year estimated values reported that the City had a median household income of$47,327. This compares to $53,539 for the County and $60,523 for the State. The following table represents the distribution of household incomes for the City,the County and the State at the time of the 2015 -2019 American Community Survey. Household Income(]) The City The County The State Income Number Percent Number Percent Number Percent Less than$10,000................................... 2,247 8.0% 3,612 6.8% 66,420 5.3% $10,000 to$14,999.................................. 1,610 5.7% 2,442 4.6% 52,441 4.1% $15,000 to$24,999.................................. 3,203 11.3% 5,068 9.6% 115,414 9.1% $25,000 to$34,999.................................. 3,567 12.6% 5,902 11.2% 119,165 9.4% $35,000 to$49,999.................................. 4,160 14.7% 7,503 14.2% 168,905 13.4% $50,000 to$74,999.................................. 5,448 19.2% 10,011 18.9% 243,004 19.2% $75,000 to$99,999.................................. 3,260 11.5% 6,776 12.8% 181,100 14.3% $100,000 to$149,999.............................. 3,066 10.8% 7,195 13.6% 194,116 15.3% $150,000 to$199,999.............................. 833 3.0% 2,178 4.1% 66,951 5.3% $200,000 or more.................................... 917 3.2% 2,218 4.2% 57,957 4.6% Total...................................................... 28,311 100.0% 52,905 100.0% 1,265,473 100.0% Note: (1) Source: U.S. Bureau of the Census,American Community Survey 5-year estimates 2015-2019. Agriculture Shown below is information on the agricultural value of the County and the statewide average. Average Value Per Acre(]) 2016 2017 2018 2019 2020 Average Value Per Acre: The County................................................ $8,599 $8,841 $8,936 $9,014 $9,179 State of Iowa.............................................. 7,183 7,326 7,264 7,432 7,559 Note: (1) Source: Cooperative Extension Service-Iowa State University. 14 Page 320 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Local Option Sales Tax On January 22, 1991, a metropolitan area-wide referendum for a one percent local option sales tax passed with 8,114 votes in favor and 6,940 against,an approval ratio of approximately 54%. The sales tax became effective on April 1, 1991, in the City and in the seven cities contiguous to the City. On November 5,2013,the referendum was renewed again with an approval rate of approximately 72%. The City's local option sales tax receipts are wholly dedicated to street repair and reconstruction, as mandated in the referendum. The City currently is authorized to collect this tax through December 31,2025. Once approved, a Local Option Tax can only be repealed through a public referendum at which a majority voting approve the repeal or tax rate change,or,in certain circumstances,upon adoption of a motion by the governing body of the incorporated city requesting the repeal. If a Local Option Tax is not imposed county-wide, then the question of repeal is voted upon only by voters in such areas of a county where the tax has been imposed. A Local Option Tax may not be repealed within one year of the effective date. The State of Iowa Department of Revenue(the"Department") administers collection and disbursement of all local option sales and services taxes in conjunction with administration of the State-wide sales, services and use tax presently assessed at 6%. The Department is required by statute to remit at least 95%of the estimated tax receipts to a county board of supervisors(for taxes imposed in unincorporated areas)and to each incorporated city. Such remittances are on a monthly basis. Once a year the Department reconciles its monthly estimated payments and makes an adjustment payment or debit at the November 10 payment date. Remittance of collections within a county are based upon the following statutory formula for county-wide collections: 75 percent: Based on a pro rata share of population (the most recent certified federal census) of those incorporated or unincorporated areas in a county which have approved a Local Option Tax. 25 percent: Based on a pro rata share of total property tax dollars levied during the three year period beginning July 1, 1982,through June 30, 1985,for those incorporated or unincorporated areas of a county which have approved a Local Option Tax. Local Option Taxes are based on the same sales currently taxed by the state-wide 6% sales and services tax,with the present statutory exceptions of(i) certain sales of motor fuel or special fuel as defined in Chapter 452A, (ii)the sale of natural gas or electric energy in a city or county where the gross receipts are subject to a franchise fee or user fee during the period the franchise or user fee is imposed, (iii)the sales price from a pay television service consisting of a direct-to-home satellite service,or(iv)the sale of equipment by the State Department of Transportation. The following table shows the trend of City Local Option tax receipts. Local Option Tax Receipts(]) Local Fiscal Year Option Sales Tax Percent Ending June 30 Receipts(2) Change+(-) 2013............................... $ 9,942,321 n/a 2014............................... 9,771,002 (1.72%) 2015............................... 9,661,573 (1.12%) 2016............................... 9,760,807 1.03%) 2017............................... 9,669,443 (0.94%) 2018............................... 9,948,293 2.88% 2019............................... 10,294,788 3.48% 2020............................... 11,092,663 7.75% 2021............................... 10,567,505(3) (4.73%) 2022............................... 11,921,921(3) 12.82% Notes: (1) Source: Iowa Department of Revenue. (2) Includes a reconciliation payment in November attributable to the previous fiscal year. (3) Collections received or expected to be received, not including any allowance for the reconciliation payment. 15 Page 321 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Retail Sales The Department of Revenue of the State of Iowa provides retail sales figures based on sales tax reports for years ending June 30. The Department of Revenue figures provide recent data to confirm trends in retail sales activity in the City. The following amounts exclude the City's Local Option Tax. Retail Taxable Sales(]) Fiscal Year Taxable Annual Percent Ending June 30 Sales Change+H 2011........................... $1,112,230,001 n/a 2012........................... 1,129,249,855 1.53% 2013........................... 1,124,405,223 (0.43%) 2014........................... 1,117,415,085 (0.62%) 2015........................... 1,119,986,316 0.23% 2016........................... 1,147,128,289 2.42% 2017........................... 1,142,882,536 (0.37%) 2018........................... 1,109,149,735 (2.95%) 2019........................... 1,118,491,285 0.84% 2020........................... 1,108,666,160 (0.88%) Note: (1) Source: the Iowa Department of Revenue. THE PROJECT Bond proceeds will be used to: (i) pay the costs of aiding in the planning undertaking and carrying out of urban renewal projects and (ii) pay the costs of issuance of the Bonds. The Project includes the acquisition of properties and financing one or more Economic Development Grants to private developers to fund the acquisition, construction, and equipping of a recreational theme park. DEFAULT RECORD The City has no record of default and has met its debt repayment obligations promptly. SHORT-TERM BORROWING The City has not issued tax anticipation warrants or revenue anticipation notes during the last five years to meet its short-term current year cash flow requirements. The remainder of this page was left blank intentionally. 16 Page 322 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A DEBT INFORMATION After issuance of the Bonds,the City will have outstanding$117,600,000* principal amount of general obligation debt. An aggregate principal amount of $40,956,000 of the City's total bonded debt is expected to be paid from tax increment finance funds and sewer revenues, not including the Bonds. The City also currently has approximately $5,900,000 principal amount of nonbonded general obligation debt. Debt Limitation The constitutional general obligation debt limit of a political subdivision of the state of Iowa is equal to five percent (5%) of the actual value of taxable property within its borders. According to and based upon the January 1, 2020 property valuations,for taxes payable in September 2021 and March 2022 the general obligation debt limit of the City for the period which began July 1, 2021 and ends June 30,2022 is: 2020 100%Actual Valuation of Property............................... $4,089,831,846 Constitutional Debt Limit....................................................... $ 204,491,592 Outstanding Bonds/Notes Applicable to Debt Limit: Total G.O.Debt Subject to Debt Limit.................................... $ 117,600,000' Other Legal Indebtedness..................................................... 5,900,000 Total Applicable Debt............................................................ $ 123.500,000* Remaining Debt Capacity...................................................... $ 80,991,592* The City does not expect to issue any additional general obligation debt in calendar year 2021. Summary of Outstanding General Obligation Bonded Debt(]) (Principal Only) Series 2014A.......................................................................... $ 3,810,000 Taxable Series 2014B............................................................. 3,205,000 Series 2014C.......................................................................... 570,000 Series 2015A.......................................................................... 7,875,000 Taxable Series 2015B............................................................. 995,000 Series 2016A.......................................................................... 5,025,000 Taxable Series 2016B............................................................. 1,285,000 Taxable Series 2016C............................................................. 7,465,000 Series 2017A.......................................................................... 5,755,000 Series 2017B.......................................................................... 2,755,000 Series 2017C.......................................................................... 6,725,000 Series 2018A.......................................................................... 7,240,000 Taxable Series 2018B............................................................. 780,000 Series 2019A.......................................................................... 5,620,000 Taxable Series 2019B............................................................. 2,640,000 Series 2019C.......................................................................... 1,955,000 Taxable Bonds Series 2019D.................................................. 2,640,000 Series 2020A.......................................................................... 6,605,000 Taxable Series 2020B............................................................. 7,475,000 Series 2021A.......................................................................... 14,370,000 Taxable Series 2021B............................................................. 8,610,000 The Bonds(2).......................................................................... 14,200,000 Less: Debt Paid from Non-Property Tax Sources(2)(3)............ (40,956,000) Total(2)................................................................................. $76,644,000 Notes: (1) Source: the City. (2) Subject to change. (3) Does not include the Bonds. *Subject to change. 17 Page 323 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A General Obligation Debt(])(2) (Principal Only) Outstanding Bonds Fiscal Taxable Taxable Taxable Taxable Taxable Taxable Year Ending Series Series Series Series Series Series Series Series Series Series Series Series June 30 2014A 2014B 2014C 2015A 2015B 2016A 2016B 2016C 2017A 2017B 2017C 2018A 2022................... $ 435,000 $ 345,000 $570,000 $ 795,000 $100,000 $ 745,000 $ 110,000 $ 380,000 $ 815,000 $ 220,000 $ 360,000 $ 710,000 2023................... 445,000 355,000 0 810,000 100,000 760,000 115,000 395,000 770,000 225,000 370,000 695,000 2024................... 455,000 370,000 0 830,000 105,000 405,000 115,000 405,000 785,000 230,000 385,000 665,000 2025................... 465,000 385,000 0 850,000 105,000 415,000 120,000 420,000 380,000 235,000 395,000 1,275,000 2026................... 480,000 410,000 0 870,000 110,000 425,000 125,000 435,000 390,000 240,000 410,000 650,000 2027................... 495,000 430,000 0 890,000 115,000 430,000 130,000 450,000 405,000 245,000 425,000 850,000 2028................... 510,000 445,000 0 915,000 115,000 445,000 135,000 470,000 415,000 255,000 440,000 775,000 2029................... 525,000 465,000 0 945,000 120,000 455,000 140,000 485,000 425,000 265,000 455,000 800,000 2030................... 0 0 0 970,000 125,000 465,000 145,000 505,000 440,000 270,000 475,000 820,000 2031................... 0 0 0 0 0 480,000 150,000 525,000 455,000 280,000 495,000 0 2032................... 0 0 0 0 0 0 0 550,000 475,000 290,000 515,000 0 2033................... 0 0 0 0 0 0 0 570,000 0 0 540,000 0 2034................... 0 0 0 0 0 0 0 595,000 0 0 565,000 0 2035................... 0 0 0 0 0 0 0 625,000 0 0 590,000 0 2036................... 0 0 0 0 0 0 0 655,000 0 0 305,000 0 Total................. $3,810,000 $3,205,000 $570,000 $7,875,000 $995,000 $5,025,000 $1,285,000 $7,465,000 $5,755,000 $2,755,000 $6,725,000 $7,240,000 Outstanding Bonds Total Fiscal Taxable Taxable Taxable Taxable Outstanding Year Ending Series Series Series Series Series Series Series Series Series General Obligation June 30 2018B 2019A 2019B 2019C 2019D 2020A 2020B 2021A 2021B Debt 2022................... $100,000 $ 625,000 $ 295,000 $ 400,000 $ 500,000 $ 415,000 $ 765,000 $ 1,430,000 $ 810,000 $ 10,925,000 2023................... 105,000 645,000 305,000 395,000 515,000 420,000 780,000 1,340,000 815,000 10,360,000 2024................... 105,000 660,000 315,000 395,000 530,000 425,000 790,000 1,350,000 830,000 10,150,000 2025................... 110,000 670,000 320,000 380,000 545,000 225,000 550,000 1,350,000 825,000 10,020,000 2026................... 115,000 695,000 335,000 385,000 550,000 545,000 925,000 1,270,000 830,000 10,195,000 2027................... 120,000 445,000 345,000 0 0 570,000 995,000 1,540,000 840,000 9,720,000 2028................... 125,000 455,000 355,000 0 0 850,000 515,000 1,030,000 840,000 9,090,000 2029................... 0 460,000 370,000 0 0 775,000 520,000 615,000 340,000 8,160,000 2030................... 0 475,000 0 0 0 560,000 535,000 620,000 345,000 6,750,000 2031................... 0 490,000 0 0 0 495,000 545,000 625,000 350,000 4,890,000 2032................... 0 0 0 0 0 505,000 555,000 630,000 355,000 3,875,000 2033................... 0 0 0 0 0 515,000 0 635,000 355,000 2,615,000 2034................... 0 0 0 0 0 150,000 0 640,000 355,000 2,305,000 2035................... 0 0 0 0 0 155,000 0 645,000 360,000 2,375,000 2036................... 0 0 0 0 0 0 0 650,000 360,000 1,970,000 Total................. $780,000 $5,620,000 $2,640,000 $1,955,000 $2,640,000 $6,605,000 $7,475,000 $14,370,000 $8,610,000 $103,400,000 18 Page 324 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A General Obligation Debt(1)(2) (continued) (Principal Only) Total Taxable Less Total Fiscal Outstanding Series G.O. Debt G.O.Debt Total Cumulative Year Ending General Obligation 2022A Paid by Other Paid By Principal Retired(2) June 30 Debt Bonds(2) Sources(2)(3) Property Tax Amount Percent 2022................... T10,925,000 $ 0 $ (4,866,000) $ 6,059,000 $ 6,059,000 7.91% 2023................... 10,360,000 720,000 (4,693,000) 6,387,000 12,446,000 16.24% 2024................... 10,150,000 1,035,000 (4,243,000) 6,942,000 19,388,000 25.30% 2025................... 10,020,000 1,045,000 (4,049,000) 7,016,000 26,404,000 34.45% 2026................... 10,195,000 1,260,000 (3,735,000) 7,720,000 34,124,000 44.52% 2027................... 9,720,000 175,000 (3,235,000) 6,660,000 40,784,000 53.21% 2028................... 9,090,000 205,000 (2,761,000) 6,534,000 47,318,000 61.74% 2029................... 8,160,000 300,000 (2,702,000) 5,758,000 53,076,000 69.25% 2030................... 6,750,000 465,000 (2,263,000) 4,952,000 58,028,000 75.71% 2031................... 4,890,000 620,000 (1,844,000) 3,666,000 61,694,000 80.49% 2032................... 3,875,000 805,000 (1,640,000) 3,040,000 64,734,000 84.46% 2033................... 2,615,000 815,000 (1,285,000) 2,145,000 66,879,000 87.26% 2034................... 2,305,000 835,000 (1,310,000) 1,830,000 68,709,000 89.65% 2035................... 2,375,000 850,000 (1,370,000) 1,855,000 70,564,000 92.07% 2036................... 1,970,000 805,000 (960,000) 1,815,000 72,379,000 94.44% 2037................... 0 820,000 (0) 820,000 73,199,000 95.51% 2038................... 0 835,000 (0) 835,000 74,034,000 96.59% 2039................... 0 855,000 (0) 855,000 74,889,000 97.71% 2040................... 0 870,000 (0) 870,000 75,759,000 98.85% 2041................... 0 885.000 (0) 885.000 76,644,000 100.00% Total................. $103,400,000 $14,200,000 $(40,956,000) $76,644,000 Notes: (1) Source: the City. (2) Subject to change. (3) Does not include the Bonds. The remainder of this page was left blank intentionally. 19 Page 325 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Summary of City's General Obligation Bonded Debt Service(1)(2) Fiscal Total Year Total Annual Taxable General Obligation Net Property Ending Outstanding Series Debt Paid From Tax Supported June 30 Debt Service 2022A(2) Other Sources(2)(3) Debt Service(2)(3) 2022........................... $ 13,417,700 $ 115,967 $ (5,889,917) $ 7,643,750 2023........................... 12,634,384 1,004,000 (5,602,963) 8,035,421 2024........................... 12,192,082 1,304,600 (5,073,258) 8,423,424 2025........................... 11,830,220 1,293,900 (4,782,326) 8,341,794 2026........................... 11,767,390 1,488,000 (4,375,344) 8,880,046 2027........................... 11,053,762 377,800 (3,789,180) 7,642,382 2028........................... 10,189,159 404,300 (3,236,017) 7,357,442 2029........................... 9,026,450 495,200 (3,097,858) 6,423,792 2030........................... 7,393,740 654,200 (2,579,530) 5,468,410 2031 ........................... 5,352,806 799,900 (2,096,590) 4,056,116 2032........................... 4,215,281 972,500 (1,842,508) 3,345,273 2033........................... 2,857,983 966,400 (1,439,568) 2,384,815 2034........................... 2,481,050 970,100 (1,424,235) 2,026,915 2035........................... 2,488,805 968,400 (1,442,245) 2,014,960 2036........................... 2,018,528 906,400 (987,608) 1,937,321 2037........................... 0 905,300 (0) 905,300 2038........................... 0 903,900 (0) 903,900 2039........................... 0 907,200 (0) 907,200 2040........................... 0 905,100 (0) 905,100 2041 ........................... 0 902,700 (0) 902,700 Total......................... $118,919,338 $17,245,867 $(47,659,146) $88,506,059 Notes: (1) Source:the City. (2) Preliminary subject to change. (3) Does not include the Bonds. Statement of Bonded Indebtedness(]) City Actual Value,January 1,2020........................................................................................................................................................... $4,089,831,846 City Taxable Value,January 1,2020........................................................................................................................................................ $2,677,386,000 Per Capita Applicable Ratio to City Ratio to City (2020 Pop. Total Percent Amount Actual Value Taxable Value 67,314) Direct Bonded Debt(3).................................$103,400,000 100.00% $103,400,000 2.53% 3.86% $1,536.08 Less: Direct Debt Paid From Non-Property Tax Sources(3).......................................... (38,099,000) 100.00% (38,099,000) (0.93%) (1.42%) (565.99) Net Direct Debt(3)....................................$ 65,301,000 $ 65,301,000 1.60% 2.44% $ 970.10 Overlapping Debt: Hawkeye Community College(4)................. $ 3,860,000 24.03% $ 927,558 0.02% 0.03% $ 13.78 Black Hawk County..................................... 19,275,000 42.38% 8,168,745 0.20% 0.31% 121.35 Total Overlapping Bonded Debt(4)............................................................$ 9,096,303 0.22% 0.34% 135.13 Total Direct and Overlapping Bonded Debt(3)...........................................$ 74,397,303 1.82% 2.78% $1,105.23 PerCapita Actual Value................................................................................................................................................................................ $60,757.52 PerCapita Taxable Value.............................................................................................................................................................................. $39,774.58 Notes: (1) Source: the City,Audited Financial Statements and Treasurer of the State of Iowa-Outstanding Obligations Report,debt as of June 30, 2020 for the County and Community College. (2) As of the date of issuance for the Direct Bonded Debt and June 30,2020 for Overlapping Debt. (3) Subject to change. (4) Excludes $13,090,000 in Industrial New Jobs Training Certificates, which are retired by proceeds from anticipated job credits from withholding taxes. The remainder of this page was left blank intentionally. 20 Page 326 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A PROPERTY ASSESSMENT AND TAX INFORMATION Property Tax Assessment In compliance with Section 441.21 of the Code of Iowa,as amended,the State Director of Revenue annually directs all county auditors to apply prescribed statutory percentages to the assessments of certain categories of real property. The final values, called Actual Valuation, are then adjusted by the County Auditor. Taxable Valuation subject to tax levy is then determined by the application of State determined rollback percentages,principally to residential property. Beginning in 1978, the State required a reduction in Actual Valuation to reduce the impact of inflation on its residents. The resulting value is defined as the Taxable Valuation. Such rollback percentages may be changed in future years. Certain historical rollback percentages for residential,multi-residential, agricultural and commercial valuations are as follows: Percentages for Taxable Valuation After Rollbacks(]) Multi- Ag Land Commercial Fiscal Year Residential Residential(2) &Buildings &Industrial 2012/13................ 50.7518% N/A 57.5411% 100.0000% 2013/14................ 52.8166% N/A 59.9334% 100.0000% 2014/15................ 54.4002% N/A 43.3997% 95.0000% 2015/16................ 55.7335% N/A 44.7021% 90.0000% 2016/17................ 55.6259% 86.2500% 46.1068% 90.0000% 2017/18................ 56.9391% 82.5000% 47.4996% 90.0000% 2018/19................ 55.6209% 78.7500% 54.4480% 90.0000% 2019/20................ 56.9180% 75.0000% 56.1324% 90.0000% 2020/21................ 55.0743% 71.2500% 81.4832% 90.0000% 2021/22................ 56.4094% 67.5000% 84.0305% 90.0000% Notes: (1) Source: the Iowa Department of Revenue. (2) New category beginning with fiscal year 2017, to be phased into residential category with valuations beginning January 1, 2022, per House File 418 signed into law on March 8,2021. Property is assessed on a calendar year basis. The assessments finalized as of January 1 of each year are applied to the following tax year. For example,the assessments finalized on January 1,2020,are used to calculate tax liability for the tax year starting July 1,2021 through June 30,2022. Property Tax Collection Each county is required by State law to collect all tax levies within its jurisdiction and remit,before the fifteenth of each month,the amount collected through the last day of the preceding month to underlying units of government,including the City. Property tax payments are made at the office of each county treasurer in full or one-half by September 30 and March 31,pursuant to the Code of Iowa, Sections 445.36 and 445.37. Where the first half of any property tax has not been paid by October 1, such installment becomes delinquent. If the second installment is not paid, it becomes delinquent on April 1. Delinquent taxes and special assessments are subject to a penalty at the rate of one and one-half percent per month, to a maximum of eighteen percent per annum. If taxes are not paid when due, the property may be offered at the regular tax sale on the third Tuesday of June following the delinquency date. Purchasers at the tax sale must pay an amount equal to the taxes, special assessments, interest and penalties due on the property,and funds so received are applied to the payment of taxes. A property owner may redeem from the regular tax sale,but failing redemption within two years,the tax sale purchaser is entitled to a deed which in general conveys the title free and clear of all liens except future installments of taxes. 21 Page 327 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Actual(100%)Valuations for the City(1)(2) Fiscal Years: 2017/18 2018/19 2019/20 2020/21 2021/22 Property Class Levy Year: 2016 2017 2018 2019 2020 Residential............................................ $2,529,420,070 $2,542,144,210 $2,576,740,020 $2,659,287,350 $2,680,048,880 Agricultural............................................ 27,867,579 26,082,269 25,876,670 18,326,140 18,050,744 Commercial........................................... 863,667,266 877,140,273 920,822,614 927,159,537 930,544,292 Industrial............................................... 179,114,950 183,960,880 187,613,460 191,171,690 197,842,020 Multi-residential..................................... 60,886,464 89,110,797 86,020,666 83,780,523 85,439,148 Railroads............................................... 7,078,785 6,913,598 6,824,594 7,181,168 3,743,850 Utilities without Gas and Electric(3)....... 9,268,178 9,403,899 9,812,338 7,850,723 5,477,037 Gas and Electric Utility(3)...................... 154,141,200 155,487,283 162,426,999 171,406,253 173,300,700 Other(4)................................................. 2,666,521 996,231 785,210 261,110 177,826 Less Military Exception.......................... (5,985,371) (5,607,483) (5,360,379) (5.093.521) (4,792,651) Total.................................................... $3,828,125,642 $3,885,631,957 $3,971,562,192 $4,061,330,973 $4,089,831,846 Percentage Change............................. 0.72%(5) 1.50% 2.21% 2.26% 0.70% Notes: (1) Source: the Iowa Department of Management. (2) Includes tax increment finance(TIF)valuations in the following amounts: January 1: 2016 2017 2018 2019 2020 TIF Valuation................. $242,246,094 $279,153,501 $283,204,270 $284,405,439 $317,411,512 (3) See"PROPERTY TAX INFORMATION-Utility Property Tax Replacement"herein. (4) Includes any City Annexation Taxation Exempt Valuation and any City Ag Valuation in TIF Increments. (5) Based on 2015 Actual Valuation of$3,800,626,605. For the January 1, 2020 levy year,the City's Taxable Valuation was comprised of approximately 57%residential, 31% commercial,7%industrial, 3%utilities,2%multi-residential, 1%agriculture and less than 1%military exemption. Taxable("Rollback")Valuations for the City(1)(2) Fiscal Years: 2017/18 2018/19 2019/20 2020/21 2021/22 Property Class Levy Year: 2016 2017 2018 2019 2020 Residential............................................ $1,440,228,467 $1,413,963,435 $1,466,628,963 $1,464,583,833 $1,511,798,865 Agricultural............................................ 12,521,362 13,845,512 14,263,702 14,891,151 15,139,734 Commercial........................................... 777,300,545 789,426,255 828,740,360 834,443,591 837,489,873 Industrial............................................... 161,203,455 165,564,792 168,852,114 172,054,521 178,057,818 Multi-Residential.................................... 50,231,385 70,174,804 64,515,623 59,693,676 57,671,493 Railroads............................................... 6,370,907 6,222,239 6,142,135 6,463,051 3,369,465 Utilities without Gas and Electric(3)....... 9,268,178 9,403,899 9,812,338 7,850,723 5,397,560 Gas and Electric Utility(3)...................... 84,504,298 83,274,717 81,260,971 78,392,110 73,253,843 Military Exemption................................. (5,985,371) (5,607,483) (5,360.379) (5,093,521) (4,792,651) Total.................................................... $2,535,643,226 $2,546,268,170 $2,634,855,827 $2,633,279,135 $2,677,386,000 Percentage Change............................. 1.62%(4) 0.42% 3.48% (0.06%) 1.67% Notes: (1) Source: Black Hawk County. (2) Includes tax increment finance(TIF)valuations in the following amounts: January 1: 2016 2017 2018 2019 2020 TIF Valuation................. $230,753,488 $263,287,703 $267,969,299 $284,405,439 $317,411,512 (3) See"PROPERTY TAX INFORMATION-Utility Property Tax Replacement"herein. (4) Based on 2015 Taxable Valuation of$2,495,312,803. The remainder of this page was left blank intentionally. 22 Page 328 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A The following shows the trend in the City's tax extensions and collections. Tax Extensions and Collections(]) Levy Fiscal Amount Amount Percent Year Year Levied Collected(2) Collected 2011...............2012-13.............. $40,620,062 $40,294,370 99.20% 2012...............2013-14.............. 39,993,210 39,690,828 99.24% 2013...............2014-15.............. 39,200,603 38,539,187 99.31% 2014...............2015-16.............. 38,480,720 38,228,882 99.35% 2015...............2016-17.............. 38,823,734 38,731,044 99.76% 2016...............2017-18.............. 39,613,829 39,611,362 99.99% 2017...............2018-19.............. 38,984,631 39,002,329 100.05% 2018...............2019-20.............. 40,639,192 40,157,048 98.81% 2019...............2020-21.............. 42,422,199 42,700,728 100.66% 2020...............2021-22.............. 43,275,701 -- In Collection-- Notes: (1) Source: the State of Iowa Department of Management and the City. Does not include Levies or Collections for Utility Replacement. Includes amounts for Utility Replacement. Does not include levies and collections for the City's tax increment finance district. (2) Includes delinquent taxes. Principal Taxpayers(]) Levy Year 2020 Taxpayer Name Business/Service Taxable Valuation(2) MidAmerican Energy.....................................................Utility........................................................................... $ 73,161,213 Deere and Company......................................................Manufacturing.............................................................. 50,768,365 GLP Capital LP..............................................................Casino and Hotel......................................................... 48,954,195 ConAgra........................................................................Food Processing.......................................................... 31,500,000 Tyson Fresh Meats........................................................Pork Processing........................................................... 22,227,386 Ferguson Enterprises,Inc..............................................Warehouse.................................................................. 18,636,903 FDP WTC LLC..............................................................Real Estate.................................................................. 16,711,938 VGM Management, Inc..................................................Commercial Property................................................... 16,594,905 Waterloo Cabinet Properties LLC..................................Cabinet Manufacturer.................................................. 14,318,676 Menards Inc...................................................................Retail Store.................................................................. 10.845.090 Total................................................................................................................................................................. $303,718,671 Ten Largest Taxpayers as Percent of City's 2020 Taxable Valuation($2,677,386,000).................................... 11.34% Notes: (1) Source: the County. (2) Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers listed contain multiple parcels and it is possible that some parcels and their valuations have been overlooked. Levy Limits Normal municipal operations and maintenance costs are generally funded through the corporate property tax levy. Iowa State Code does not allow the municipal general fund to be taxed above $8.10 per thousand dollars of taxable value in any one year. In addition to the General Fund, there are several other tax funds that the City can create and use for specific purposes. The remainder of this page was left blank intentionally. 23 Page 329 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A The property tax rates for the City from levy year 2016 through levy year 2020 are shown below: Property Tax Rates(1)(2) (Per$1,000 Actual Valuation) Fiscal Year: 2017/18 2018/19 2019/20 2020/21 2021/22 Levy Year: 2016 2017 2018 2019 2020 City: General Fund............................................... $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 Emergency Levy........................................... 0.27000 0.27000 0.27000 0.27000 0.27000 Debt Service Fund........................................ 3.11073 2.98828 2.75595 2.75591 2.85552 Employee Benefits........................................ 4.31902 4.31981 4.69454 5.49308 5.50603 Capital Improvement.................................... 0.00000 0.00000 0.00000 0.00000 0.00000 Others.......................................................... 1.80025 1.77786 1.72750 1.82127 1.90033 Total City Rate............................................ $17.60000 $17.45595 $17.54799 $18.44026 $18.63188 Others: Black Hawk County........................................ $ 6.41507 $ 6.69303 $ 6.30363 $ 6.33625 $ 6.17391 Waterloo Community School District............... 14.98155 14.57188 14.20694 14.20694 13.84769 Hawkeye Community College......................... 0.97071 1.01703 1.11803 1.15802 1.17640 Other.............................................................. 0.36424 0.34641 0.31688 0.31945 0.32235 Total Tax Rate............................................ $40.33157 $40.08430 $39.49347 $40.46092 $40.15223 Notes: (1) Source:the Iowa Department of Management. (2) Does not include tax rate for agriculture. Tax Levy Procedures The Bonds are general obligations of the City, payable from and secured by a continuing ad valorem tax levied against all of the property valuation within the City. As part of the budgetary process each fiscal year, the City will have an obligation to request a debt service levy to be applied against all of the taxable property within the City. A failure on the part of the City to make a timely levy request or a levy request by the City that is inaccurate or is insufficient to make full payments of the debt service of the Bonds for a particular fiscal year may cause Bond holders to experience delay in the receipt of distributions of principal of and/or interest on the Bonds. In the event of a default in the payment of principal of or interest on the Bonds,there is no provision for acceleration of maturity of the principal of the Bonds. Consequently,the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the resolution for the Bonds) may have to be enforced from year to year. Notwithstanding the foregoing,Iowa Code section 76.2 provides when an Iowa political subdivision issues general obligation bonds,"the governing authority of these political subdivisions before issuing bonds shall,by resolution,provide for the assessment of an annual levy upon all the taxable property in the political subdivision sufficient to pay the interest and principal of the bonds within a period named not exceeding twenty years. A certified copy of this resolution shall be filed with the county auditor or auditors of the counties in which the political subdivision is located; and the filing shall make it a duty of the auditor(s)to enter annually this levy for collection from the taxable property within the boundaries of the political subdivision until funds are realized to pay the bonds in full." Utility Property Tax Replacement Property owned by entities involved primarily in the production,delivery,service and sale of electricity and natural gas ("Utilities") pay a replacement tax based upon the delivery of energy by Utilities in lieu of property taxes. All replacement taxes are allocated among local taxing bodies by the State Department of Revenue and the Department of Management. This allocation is made in accordance with a general allocation formula developed by the Department of Management on the basis of general property tax equivalents. Utility properties paying the replacement tax are exempt from the levy of property tax by political subdivisions. In addition to the replacement tax,Utility property will continue to be valued by a special method as provided in the statute and taxed at the rate of three cents per one thousand dollars for the general fund of the State. 24 Page 330 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A By statute,the replacement tax collected by the State and allocated among local taxing bodies(including the City) shall be treated as property tax when received and shall be disposed of by the county treasurer as taxes on real estate. It is possible that the general obligation debt capacity of the City could be adjudicated to be proportionately reduced in future years if Utility property were determined to be other than"taxable property"for purposes of computing the City's debt limit under Article XI of the Constitution of the State of Iowa. There can be no assurance that future legislation will not (i) operate to reduce the amount of debt the City can issue or(ii) adversely affect the City's ability to levy taxes in the future for the payment of the principal of and interest on its outstanding debt obligations,including the Bonds. Approximately 3% of the City's levy year 2020 taxable valuation currently is utility property. Tax Increment Financing The Code of Iowa currently authorizes the use of two types of tax increment financing by local taxing districts in the State of Iowa. The first type allows local governments to establish TIF districts for the purposes of financing designated urban renewal projects which contribute to the urban redevelopment and economic development of the immediate area. The taxable valuation used for this type of TIF district in the City for levy year 2020 is$317,411,512. The second type of tax increment financing was authorized by state legislative action in the mid-1980's. The area community colleges can establish TIF districts by contract with specific local businesses and industries to provide jobs training programming for new employees of existing expanding businesses or employees of new businesses. The revenues from these job training TIF districts then retires the debt incurred from the issuance of jobs training certificates which finance the cost of jobs training programming over a maximum often years. Upon payment of all jobs training certificates, the district dissolves and the incremental value from the new or expanded business reverts to the general tax base. There is no current valuation for this second type of TIF district. Legislation From time to time, legislative proposals are pending in Congress and the Iowa General Assembly that would, if enacted, alter or amend one or more of the property tax matters described herein. It cannot be predicted whether or in what forms any of such proposals, either pending or that may be introduced,may be enacted, and there can be no assurance that such proposals will not apply to valuation, assessment or levy procedures for taxes levied by the City or have an adverse impact on the future tax collections of the City. Purchasers of the Bonds should consult their tax advisors regarding any pending or proposed federal or state tax legislation. The opinions expressed by Bond Counsel are based upon existing legislation as of the date of issuance and delivery of the Bonds and Bond Counsel has expressed no opinion as of any date subsequent thereto or with respect to any pending federal or state tax legislation. During the 2019 legislative session,the Iowa General Assembly enacted Senate File 634(the"2019 Act"). This bill modifies the process for hearing and approval of the total maximum property tax dollars under certain levies in the county budget. The bill also includes a provision that will require the affirmative vote of 2/3 of the City Council when the maximum property tax dollars under these levies exceed an amount determined under a prescribed formula. The 2019 Act does not change the process for hearing and approval of the Debt Service Levy pledged for repayment of the Bonds. It is too early to evaluate the affect the 2019 Act will have on the overall financial position of the City or its ability to fund essential services. During the 2013 legislative session,the Iowa General Assembly enacted Senate File 295 (the"2013 Act"). Among other things,the Act(i)reduced the maximum annual taxable value growth percent,due to revaluation of existing residential and agricultural property to 3%, (ii) assigned a "rollback" (the percentage of a property's value that is subject to tax) to commercial, industrial and railroad property of 90%, (iii) created a new property tax classification for multi-residential properties (apartments, nursing homes, assisted living facilities and certain other rental property) and assigned a declining rollback percentage to such properties for each year until the residential rollback percentage is reached in the 2022 assessment year,after which the rollback percentage for such properties will be equal to the residential rollback percentage each assessment year,and(iv)exempted a specified portion of the assessed value of telecommunication properties. 25 Page 331 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A During the 2021 Iowa Legislative session, House File 418 was signed into law on March 8, 2021, applicable to valuations beginning January 1, 2022 (the "2021 Act"). HF418 removes the multi-residential property classification by reclassifying certain properties as subdivision of"residential"property. The multi-residential classification was created as part of the January 1, 2015 valuations, and became unnecessary due to the equalization of the residential and multi- residential classifications as of January 1,2022. The 2013 Act included a standing appropriation to replace some of the tax revenues lost by local governments due to the rollback. Iowa Code section 441.21 A established this standing appropriation for reimbursement to local governments (backfill). However, SF 619, passed by the legislature on May 19, 2021 and subsequently signed into law by Governor Reynolds, phases out backfill payments beginning with fiscal years beginning on or after July 1, 2022. For cities and counties, the backfill is eliminated through annual reductions over five or eight years, depending on assessed valuation growth from 2012 to 2019. School district backfill payments will be eliminated after fiscal year 2022. Taxing authorities that are not schools,cities,or counties will have their backfill payments phased out over eight years. SF 619 also implements a tax credit for property owned by persons who are at least 70 years of age and whose annual household income is not more than 250% of the federal poverty level guidelines published by the U.S. Department of Health and Human Services. The expanded credit is available for claims filed on or after January 1,2022. The expanded credit is exempt from the provisions of Iowa Code section 25B.7(1), which imposes a State requirement to fully fund changes to property tax credits. The legislation is anticipated to result in reduced property tax revenues as a result of the phased out property tax replacement claims and also due to expansion of the Elderly Property Tax Credit. Notwithstanding any decrease in property tax revenues that may result from the 2013 Act,the 2019 Act or the 2021 Act or Senate File 619, the Bonds are secured by an unlimited ad valorem property tax as described more fully in the "SECURITY AND SOURCE OF PAYMENT"herein. From time to time, other legislative proposals may be considered by the Iowa General Assembly that would, if enacted,alter or amend one or more of the property tax matters described in this Official Statement. It cannot be predicted whether or in what forms any of such proposals may be enacted,and there can be no assurance that such proposals will not apply to valuation,assessment or levy procedures for the levy of taxes by the City. FINANCIAL INFORMATION Financial Reports The City's financial statements are audited annually by certified public accountants. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. The accounting policies of the City conform to accounting principles generally accepted in the United States of America as applicable to governments. See APPENDIX A for more detail. No Consent or Updated Information Requested of the Auditor The tables and excerpts (collectively, the "Excerpted Financial Information") contained in this "FINANCIAL INFORMATION"section are from the audited financial statements of the City,including the audited financial statements for the fiscal year ended June 30,2020 (the"2020 Audit"). The 2020 Audit has been prepared by RSM US LLP,Certified Public Accountants, Davenport, Iowa, (the "Auditor"), and received by the City Council. The City has not requested the Auditor to update information contained in the Excerpted Financial Information and the 2020 Audit; nor has the City requested that the Auditor consent to the use of the Excerpted Financial Information and the 2020 Audit in this Final Official Statement. The inclusion of the Excerpted Financial Information and the 2020 Audit in this Final Official Statement in and of itself is not intended to demonstrate the fiscal condition of the City since the date of the 2020 Audit. Questions or inquiries relating to financial information of the City since the date of the 2020 Audit should be directed to the City. 26 Page 332 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Summary Financial Information The following tables are summaries and do not purport to be the complete audits, copies of which are available upon request. See APPENDIX A for the City's 2020 Audit. The City's expects its unassigned General Fund balance for the fiscal year ending June 30,2021 to be approximately$12,500,000. The City has approved a budget for fiscal year 2022 with a planned used of unassigned general fund reserves in the approximate amount of$2,450,000. Statement of Net Position Governmental Activities(]) Audited as of June 30 2016 2017 2018 2019 2020 Assets: Current Assets: Cash and Cash Equivalents................................................. $ 55,193,931 $ 80,681,435 $ 78,204,617 $ 85,389,911 $ 81,040,157 Restricted Cash and Cash Equivalents................................. 1,117,473 1,021,123 1,241,336 1,050,406 929,908 Receivables: Customer Accounts(Net).................................................... 1,356,101 1,809,981 1,774,931 2,085,704 2,368,757 Property Taxes: Delinquent.......................................................................... 238,057 252,732 315,231 316,924 1,246,401 Succeeding Year................................................................ 45,205,033 45,311,296 45,855,101 47,611,420 49,788,234 Internal Accounts................................................................. (38,704) (38,704) (38,704) (38,704) (38,704) Due from Other Governments: Component Unit................................................................. 0 0 369,042 734,415 77,847 Other.................................................................................. 10,170,145 17,068,030 12,904,677 6,858,443 7,899,489 Accrued Interest.................................................................. 9,182 250,164 352,230 299,114 13,278 Special Assessments.......................................................... 212,133 170,715 135,788 82,243 0 Inventories and Prepaids...................................................... 557,530 459.094 491,670 481,816 725.249 Total Current Assets.......................................................... $114,020.881 $146.985.866 $141,605,919 $144,871,692 $144,050.616 Noncurrent Assets: Restricted Assets: Cash and Cash Equivalents................................................ $ 14,483,713 $ 13,050,431 $ 12,056,283 $ 10,664,802 $ 11,011,322 Receivables......................................................................... 14,743 13,770 13,168 12,068 11,030 Loans and Notes(Net)......................................................... 31,900 27,500 23,100 18,700 0 Special Assessments Receivable......................................... 115,301 184,762 278,857 159,080 221,774 Assets Held for Sale............................................................. 21,137 0 0 0 0 Capital Assets(Net).............................................................. 303,044,905 294,573,584 292,442,591 296,146,114 318,000,759 Capital Assets Not Being Depreciated.................................. 62,157,003 66,793,289 81,296,376 82,806,285 78,726,672 Total Noncurrent Assets.................................................... $379.847,565 $374,643.336 $386,110,375 $389,807,049 $407,971,557 Total Assets...................................................................... $493.868.446 $521,629.202 $527,716,294 $534,678,741 $552,022,173 Deferred Outflows of Resources: Pension Related Amounts..................................................... $ 14,935,009 $ 21,156,718 $ 13,519,715 $ 13,141,764 $ 12,268,459 OPEB Related Amounts........................................................ 0 0 0 366,557 2,192,247 Total Deferred Outflows of Resources............................... $ 14,935,009 $ 21,156,718 $ 13.519.715 $ 13.508.321 $ 14,460,706 Liabilities: Current: Accounts and Retainages Payable....................................... $ 3,828,499 $ 3,744,007 $ 5,344,478 $ 4,757,003 $ 5,812,492 Accrued Liabilities and Other................................................ 1,464,495 1,609,353 1,729,380 1,798,460 2,145,154 Due to Component Unit........................................................ 325,221 298,368 298,340 183,092 111,203 Noncurrent Liabilities Due and Payable Within One Year..... 12,474,569 12,782,566 13,197,153 12,939,646 12,489,906 Unearned Revenues............................................................. 184,350 150,445 400,403 450,550 990,469 Current Liabilities Payable from Restricted Assets: Health Claims...................................................................... 1,117,473 1,021,123 1,241,336 1,050,406 929,908 Other................................................................................... 261,002 456,764 404,750 260,805 312,938 Accrued Interest.................................................................. 151,592 166.575 186.211 280,517 275.381 Total Current Liabilities...................................................... $ 19,807,201 $ 20,229,201 $ 22,802,051 $ 21,720,479 $ 23,067,451 Noncurrent: Customer Deposits............................................................... $ 77,947 $ 78,199 $ 57,140 $ 71,766 $ 33,926 Worker's Compensation Claims............................................ 447,500 535,187 636,923 472,501 561,323 General Obligation Bonds and Notes(Net)........................... 66,344,519 73,904,844 72,703,300 74,024,507 78,703,792 Other Loans and Notes........................................................ 1,745,017 1,607,357 6,891,787 5,862,151 4,799,400 Total Post Employment Benefits Liability.............................. 4,443,299 3,977,250 17,302,862 17,575,071 19,076,867 Compensated Absences....................................................... 1,515,181 1,524,513 1,844,358 1,647,525 2,116,077 Net Pension Liability............................................................. 46,062,744 58,937,252 46.059.803 45.448.595 48,049,962 Total Noncurrent Liabilities................................................ $120,636,207 $140,564,602 $145,496,173 $145,102,116 $153,341,347 Total Liabilities.................................................................. $140,443,408 $160,793,803 $168,298,224 $166,822,595 $176,408,798 27 Page 333 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Statement of Net Position Governmental Activities(]) (continued) Audited as of June 30 2016 2017 2018 2019 2020 Deferred Inflows Of Resources: Property Taxes...................................................................... $ 45,205,033 $ 45,663,122 $ 46,170,332 $ 47,928,344 $ 49,788,234 Pension Related Amounts..................................................... 10,104,448 5,876,108 1,165,415 2,046,759 2,419,283 OPEB Related Amounts........................................................ 0 0 287,843 256,874 220,415 Total Deferred Inflows of Resources.................................. $ 55,309,481 $ 51,539,230 $ 47,623,590 $ 50,231,977 $ 52,427,932 NET POSITION: Net Investment in Capital Assets........................................... $316,701,068 $306,360,558 $312,634,254 $320,748,412 $338,162,674 Restricted.............................................................................. 20,032,995 55,182,022 52,436,491 53,863,633 44,923,907 Unrestricted(Deficit).............................................................. (23,683,497) (31,089,693) (39,756,550) (43,479,555) (45,440,432) Total Net Position................................................................ $3_13J050 566 $330 452 887 $325 314 195 $331-132-490 $337 646 149 Note: (1) Source:Audited financial statements of the City for the fiscal years ended June 30,2016 through 2020. Statement of Activities Governmental Activities(]) Audited Fiscal Years Ended June 30 2016 2017 2018 2019 2020 Programs/Functions: Governmental Activities: Public Safety...................................................................... $(29,103,221) $(28,825,036) $(15,711,997) $(27,880,682) $(30,644,031) Public Works...................................................................... (11,148,577) 6,738,477 (13,981,070) (13,875,908) (14,835,766) Health and Social Services................................................. (316,702) (327,278) (307,535) (253,591) (246,890) Culture and Recreation....................................................... (7,966,138) (11,343,796) (8,873,490) (9,029,385) (7,731,715) Community and Economic Development............................ (3,836,136) (3,962,421) (10,179,611) (2,698,731) (3,510,442) General Government.......................................................... (4,994,843) (9,609,407) (9,338,298) (7,491,292) (8,909,953) Interest and Issuance Costs on Long-Term Debt................ (2,048,517) (2,175,284) (2,385,499) (2,452,792) (2,413,402) Total Governmental Activities.......................................... $(59.414,134) $(49,504,745) $(60,777,500) $(63,682,381) $(68,292,199) General Revenues: Taxes: Property Taxes................................................................... $ 30,794,803 $ 46,530,686 $ 47,404,667 $ 47,722,089 $ 49,332,480 Property Taxes Levied for Debt Services(2)....................... 15,533,194 0 0 0 0 Other Taxes: Local Option Sales............................................................ 9,853,274 9,588,261 9,416,283 10,345,599 11,083,075 Utility Excise...................................................................... 1,577,775 1,479,848 1,422,316 1,354,131 1,363,258 Gaming.............................................................................. 1,343,753 1,301,082 1,276,144 1,255,839 984,156 Hotel/Motel........................................................................ 1,281,311 1,239,346 1,352,467 1,338,618 985,466 Gas and Electric................................................................ 2,652,450 2,835,985 3,029,140 3,726,027 3,764,060 Cable Television................................................................ 775,606 748,325 675,681 669,425 646,853 Mobile Home..................................................................... 69,910 67,533 67,588 67,568 59,593 Bank/Credit Union............................................................. 0 0 0 0 153,319 Investment Earnings........................................................... 187,046 339,895 842,018 1,468,222 978,205 Miscellaneous..................................................................... 2,034,957 2,741,240 4,592,600 2,186,481 5,455,393 Transfers............................................................................ 0 0 0 (633,323) 0 Gain on Sale of Capital Assets........................................... 188,433 34,865 0 0 0 Total General Revenues and Transfers........................... $ 66,292,512 $ 66,907,066 $ 70,078,904 $ 69,500,676 $ 74,805,858 Change In Net Position........................................................ $ 6,878,378 $ 17,402,321 $ 9,301,404 $ 5,818,295 $ 6,513,659 Net Position,Beginning of Year........................................... $306,172,188 $313,050,566 $316,012,791(3)$325,314,195 $331,132,490 Net Position,End of Year.................................................... $313,050,566 $330,462,887 $325,314,195 $331,132,490 $337,646,149 Notes: (1) Source:Audited financial statements of the City for the fiscal years ended June 30,2016 through 2020. (2) Combined with Property Taxes in 2017. (3) Restated. 28 Page 334 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Balance Sheet General Funds(]) Audited as of June 30 2016 2017 2018 2019 2020 Assets: Cash and Cash Equivalents.................................................. $ 9,673,606 $10,826,534 $11,494,635 $11,229,032 $12,825,130 Receivables: Customer Accounts,Net....................................................... 1,219,742 1,308,565 1,532,841 2,059,678 2,340,694 Property Tax: Delinquent........................................................................... 119,780 119,681 147,701 135,103 414,870 Succeeding Year................................................................. 20,117,362 19,937,663 19,680,558 20,385,867 20,400,576 Special Assessments........................................................... 327,434 355,477 414,645 241,323 221,774 Accrued Interest................................................................... 0 111,699 198,850 157,511 528 Loans and Notes.................................................................. 31,900 27,500 23,100 18,700 0 Due from Other Funds........................................................... 5,772,389 4,458,733 4,542,648 5,115,742 4,781,167 Due from Other Governments: Federal................................................................................. 93,966 54,236 40,332 50,870 99,161 Iowa..................................................................................... 283,829 368,678 408,130 403,455 284,998 Other.................................................................................... 212,401 205,879 238,693 247,189 197,549 Inventories and Prepaids....................................................... 267,413 197,324 360,459 392,145 584,290 Restricted Assets Cash and Cash Equivalents................................................. 11,622,367 10,000,395 8,894,456 7,100,556 7,007,460 Receivables.......................................................................... 14,743 13.770 13,168 12,068 11,030 Total Assets....................................................................... $49,856,932 $47,986,134 $47 990 216 $47 549 239 $49 169 227 Liabilities,Deferred Inflows of Resources and Fund Balances: Liabilities: Accounts Payable................................................................. $ 349,429 $ 346,688 $ 252,899 $ 453,807 $ 458,703 Retainages Payable............................................................. 0 8,230 0 8,744 23,901 Accrued Liabilities................................................................ 1,103,423 1,213,487 1,307,801 1,372,750 1,626,800 Due to Other Funds.............................................................. 30,104 0 0 0 0 Unearned Revenue.............................................................. 184,350 150,445 135,826 172,628 569,913 Compensated Absences....................................................... 177,436 59,507 84,275 87,528 93,506 Due to Waterloo Convention&Visitors Bureau, Inc.............. 325,221 298,368 298,340 183,092 111,203 Payable from Restricted Assets............................................ 1,378,475 1,477,887 1,646,086 1,311,211 1,242,846 Advances from Other Funds................................................. 168.316 168.316 168,316 168,316 168.316 Total Liabilities................................................................... $ 3,716,754 $ 3,722,928 $ 3,893,543 $ 3,758,076 $ 4,295,188 Deferred Inflows of Resources: Unavailable Revenue: Property Tax......................................................................... $20,237,142 $20,140,750 $19,828,259 $20,520,970 $20,815,446 Special Assessment............................................................. 327,434 327,434 414,645 241,323 221,774 Intergovernmental and Other................................................ 74,590 74,590 70,218 354,813 312,879 Total Deferred Inflows of Resources.................................. $20.639.166 $20.542,774 $20,313,122 $21,117,106 $21,350.099 Fund Balances: Nonspendable...................................................................... $ 267,413 $ 197,324 $ 528,775 $ 392,145 $ 584,290 Restricted............................................................................. 10,390,434 8,565,653 7,839,825 6,384,873 5,888,663 Committed............................................................................ 0 0 33,004 154,511 229,791 Assigned.............................................................................. 5,007,033 5,410,593 5,902,856 5,465,413 5,633,149 Unassigned.......................................................................... 9,836.132 9,546.862 9.479,091 10.277,115 11,188.047 Total Fund Balances.......................................................... $25,501,012 $23,720,432 $23,783,551 $22,674,057 $23,523,940 Total Liabilities, Deferred Inflows of Resources and Fund Balances.......................................................... $49,856,932 $47,986,134 $47,990,216 $47,549,239 $49,169,227 Note: (1) Source: Audited financial statements of the City for the fiscal years ended June 30,2016 through 2020. The remainder of this page was left blank intentionally. 29 Page 335 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Statement of Revenues,Expenditures and Changes in Fund Balances General Fund(]) Audited Fiscal Years Ended June 30 2016 2017 2018 2019 2020 Revenues: Property Taxes..................................................................... $19,969,442 $20,387,130 $20,892,430 $20,545,205 $21,085,430 Other Taxes......................................................................... 6,917,710 6,959,983 7,137,065 7,761,122 7,298,000 Licenses and Permits........................................................... 1,455,620 1,521,808 1,340,458 1,420,722 1,449,113 Investment Income............................................................... 80,633 198,340 513,942 766,025 465,149 Rent..................................................................................... 976,204 998,034 976,538 1,026,422 1,107,525 Intergovernmental................................................................ 1,040,156 984,769 993,021 1,083,042 1,077,524 Charges for Services............................................................ 7,824,098 7,631,540 7,753,197 7,596,846 9,788,667 Interfund Charges for Services............................................. 1,885,000 2,135,000 2,205,000 2,130,000 2,130,000 Special Assessments........................................................... 138,434 133,943 176,382 201,637 126,258 Miscellaneous....................................................................... 1,454,500 1,390,425 1,395,472 1,863,624 2,121,921 Total Revenue................................................................... $41,741,797 $42,340,972 $43,383,505 $44,394,645 $46,649,587 Expenditures: Current Operating: Public Safety....................................................................... $26,938,184 $26,326,146 $26,538,729 $27,709,146 $29,722,252 Public Works....................................................................... 3,146,095 3,104,466 3,253,216 3,192,827 3,177,164 Health and Social Services.................................................. 375,769 379,958 365,193 276,922 270,460 Culture and Recreation........................................................ 10,008,068 9,947,787 9,771,641 9,743,007 9,317,371 Community and Economic Development............................. 1,925,673 1,841,540 1,859,306 2,020,269 2,824,714 General Government........................................................... 5,648,846 10,025,237 8,856,520 8,472,560 9,480,205 Total Expenditures............................................................. $48,042,635 $51,625,134 $50,644,605 $51,414,731 $54,792,166 Excess(Deficiency)of Revenues Over Expenditures............ $(6,300,838) $(9,284,162) $(7,261,100) $(7,020,086) $(8,142,579) Other Financing Sources(Uses) Transfers In.......................................................................... $ 6,453,326 $ 5,944,388 $ 6,221,395 $ 5,853,416 $ 7,462,766 Transfers Out....................................................................... (138,478) (135,750) (160,806) (64,250) (185,750) Proceeds from Sale of Capital Assets................................... 214,138 70,564 151,006 121,426 56,088 Proceeds from Insurance...................................................... 766,470 1,624,380 1,112,624 0 1,659,358 Total Other Financing Sources(Uses)............................... $ 7,295.456 $ 7,503,582 $ 7,324,219 $ 5,910,592 $ 8,992,462 Net Changes In Fund Balances.......................................... $ 994,618 $(1,780,580) $ 63,119 $(1,109,494) $ 849,883 Fund Balance-Beginning of Year......................................... 24,506,394 25,501,012 23,720,432 23,783,551 22,674,057 Fund Balance-End of Year.................................................. $25,501,012 $23,720,432 $23 783 551 $22 674 057 $2,3,523_940 Note: (1) Source: Audited financial statements for the City for the fiscal years ended June 30,2016 through 2020. REGISTRATION,TRANSFER AND EXCHANGE See also APPENDIX B - BOOK-ENTRY SYSTEM for information on registration, transfer and exchange of book-entry bonds. The Bonds will be initially issued as book-entry bonds. The City shall cause books(the"Bond Register")for the registration and for the transfer of the Bonds to be kept at the principal office maintained for the purpose by the Bond Registrar in West Des Moines, Iowa. The City will authorize to be prepared, and the Bond Registrar shall keep custody of, multiple bond blanks executed by the City for use in the transfer and exchange of Bonds. Any Bond may be transferred or exchanged,but only in the manner, subject to the limitations, and upon payment of the charges as set forth in the Bond Resolution. Upon surrender for transfer or exchange of any Bond at the principal office maintained for the purpose by the Bond Registrar, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Bond Registrar and duly executed by the registered owner or such owner's attorney duly authorized in writing,the City shall execute and the Bond Registrar shall authenticate, date and deliver in the name of the registered owner, transferee or transferees (as the case may be) a new fully registered Bond or Bonds of the same maturity and interest rate of authorized denominations, for a like aggregate principal amount. 30 Page 336 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A The execution by the City of any fully registered Bond shall constitute full and due authorization of such Bond,and the Bond Registrar shall thereby be authorized to authenticate,date and deliver such Bond,provided,however,the principal amount of outstanding Bonds of each maturity authenticated by the Bond Registrar shall not exceed the authorized principal amount of Bonds for such maturity less Bonds previously paid. The Bond Registrar shall not be required to transfer or exchange any Bond following the close of business on the fifteenth day of the month next preceding an interest payment date on such bond(known as the record date),nor to transfer or exchange any Bond after notice calling such Bond for redemption has been mailed, nor during a period of fifteen days next preceding mailing of a notice of redemption of any Bonds. The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of the principal of or interest on any Bonds shall be made only to or upon the order of the registered owner thereof or such owner's legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. No service charge shall be made for any transfer or exchange of Bonds, but the City or the Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Bonds except in the case of the issuance of a Bond or Bonds for the unredeemed portion of a bond surrendered for redemption. TAX MATTERS Taxability and Related Considerations In the opinion of Bond Counsel,under existing law, interest on the Bonds will be included in gross income of the owners thereof for federal income tax purposes. State of Iowa Tax Exemption The interest on the Bonds is exempt from the taxes imposed by Division 11(Personal Net Income Tax)and Division III(Business Tax on Corporations)of Chapter 422 of the Code of Iowa,as amended(the Iowa Code). Interest on the Bonds is subject to the taxes imposed by Division V(Taxation of Financial Institutions)of Chapter 422 of the Iowa Code. Ownership of the Bonds may result in other state and local tax consequences to certain taxpayers. Bond Counsel expresses no opinion regarding any such collateral consequences arising with respect to the Bonds. Prospective purchasers of the Bonds should consult their tax advisors regarding the applicability of any such state and local taxes. Tax Accounting Treatment of Discount and Premium on Certain Taxable Bonds The initial public offering price of certain Bonds("Discount Bonds")may be less than the amount payable on such Discount Bonds at maturity. An amount equal to the difference between the initial public offering price of the Discount Bonds (assuming that a substantial amount of the Discount Bonds of that maturity are sold to the public at such price) and the amount payable at maturity constitutes original issue discount to the initial purchaser of such Discount Bonds. Owners of Discount Bonds should consult with their own tax advisors with respect to the determination of accrued original issue discount on Discount Bonds for federal income tax purposes and with respect to the state and local tax consequences of owning and disposing of Discount Bonds. It is possible that,under applicable provisions governing determination of state and local income taxes,accrued interest on Discount Bonds may be deemed to be received in the year of accrual even though there will not be a corresponding cash payment. 31 Page 337 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A The initial public offering price of certain Bonds ("Premium Bonds") may be greater than the amount of such Premium Bonds at maturity.An amount equal to the difference between the initial public offering price of Premium Bonds (assuming that a substantial amount of the Premium Bonds of that maturity are sold to the public at such price) and the amount payable at maturity constitutes a premium to the initial purchaser of such Premium Bonds. Purchasers of the Premium Bonds should consult with their own tax advisors with respect to the determination of amortizable bond premium on Premium Bonds for federal income tax purposes and with respect to the state and local tax consequences of owning and disposing of Premium Bonds. Other Tax Advice In addition to the income tax consequences described above,potential investors should consider the additional tax consequences of the acquisition, ownership, and disposition of the Bonds. For instance, state income tax law may differ substantially from state to state,and the foregoing is not intended to describe any aspect of the income tax laws of any state. Therefore,potential investors should consult their own tax advisors with respect to federal tax issues and with respect to the various state tax consequences of an investment in the Bonds. Enforcement Holders of the Bonds shall have and possess all the rights of action and remedies afforded by the common law, the Constitution and statutes of the State of Iowa and of the United States of America for the enforcement of payment of the Bonds, including, but not limited to, the right to a proceeding in law or in equity by suit, action or mandamus to enforce and compel performance of the duties required by Iowa law and the resolution authorizing issuance of the Bonds (the "Bond Resolution"). There is no bond trustee or similar person to monitor or enforce the terms of the resolution for issuance of the Bonds. In the event of a default in the payment of principal of or interest on the Bonds,there is no provision for acceleration of maturity of the principal of the Bonds. Consequently,the remedies of the owners of the Bonds may have to be enforced from year to year. The obligation to pay general ad valorem property taxes is secured by a statutory lien upon the taxed property, but is not an obligation for which a property owner may be held personally liable in the event of a deficiency. The owners of the Bonds cannot foreclose on property within the boundaries of the City or sell such property in order to pay the debt service on the Bonds. In addition, the enforceability of the rights and remedies of owners of the Bonds may be subject to limitation as set forth in Bond Counsel's opinion. The opinion to be delivered concurrently with the delivery of the Bonds will be qualified as to the enforceability of the various legal instruments by limitations imposed by general principles of equity and public policy and by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors generally, and to the exercise of judicial discretion in appropriate cases. Opinion Bond Counsel's opinion is not a guarantee of a result,or of the transaction on which the opinion is rendered, or of the future performance of parties to the transaction, but represents its legal judgment based upon its review of existing statutes, regulations, published rulings and court decisions and the representations and covenants of the City described in this section. No ruling has been sought from the Service with respect to the matters addressed in the opinion of Bond Counsel and Bond Counsel's opinion is not binding on the Service. Bond Counsel assumes no obligation to update its opinion after the issue date to reflect any further action,fact or circumstance,or change in law or interpretation,or otherwise. See"APPENDIX C" for the form of Bond Counsel opinion for the Taxable Bonds. ALL POTENTIAL PURCHASERS OF THE TAXABLE BONDS SHOULD CONSULT WITH THEIR TAX ADVISORS WITH RESPECT TO FEDERAL, STATE AND LOCAL TAX CONSEQUENCES OF OWNERSHIP OF THE TAXABLE BONDS (INCLUDING BUT NOT LIMITED TO THOSE LISTED ABOVE). 32 Page 338 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A CONTINUING DISCLOSURE For the purpose of complying with Rule 15c2-12 of the Securities Exchange Commission, as amended and interpreted from time to time (the "Rule"), the City will covenant and agree, for the benefit of the registered holders or beneficial owners from time to time of the outstanding Bonds to provide reports of specified information and notice of the occurrence of certain events, as hereinafter described(the"Disclosure Covenants"). The information to be provided on an annual basis, and the events as to which notice is to be given, is set forth in "APPENDIX D — Form of Continuing Disclosure Certificate". This covenant is being made by the City to assist the Underwriter(s)in complying with the Rule. Breach of the Disclosure Covenants will not constitute a default or an "Event of Default" under the Bonds or Resolution, respectively. A broker or dealer is to consider a known breach of the Disclosure Covenants, however, before recommending the purchase or sale of the Bonds in the secondary market. Thus,a failure on the part of the City to observe the Disclosure Covenants may adversely affect the transferability and liquidity of the Bonds and their market price. Pursuant to the Rule, in the last five years,the City believes it has complied in all material respects with regard to its prior Disclosure Covenants with the exception that the City failed to timely file a material event notice for a financial obligation entered into on February 15, 2021. The City has taken steps to ensure future filing of this information in compliance with the applicable undertakings. Bond Counsel expresses no opinion as to whether the Disclosure Covenants comply with the requirements of Section(b)(5)of the Rule. OPTIONAL REDEMPTION Bonds due June 1, 2023 - 2030 inclusive, are not subject to optional redemption. Bonds due June 1, 2031 -2010, inclusive, are callable in whole or in part on any date on or after June 1, 2030, at a price of par and accrued interest. If selection by lot within a maturity is required, the Registrar shall designate the Bonds to be redeemed by random selection of the names of the registered owners of the entire annual maturity until the total amount of Bonds to be called has been reached. If less than all of the maturity is called for redemption, the City will notify DTC of the particular amount of such maturity to be redeemed prior to maturity. DTC will determine by lot the amount of each Participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Thirty days'written notice of redemption shall be given to the registered owner of the Bond. Failure to give written notice to any registered owner of the Bonds or any defect therein shall not affect the validity of any proceedings for the redemption of the Bonds. All Bonds or portions thereof called for redemption will cease to bear interest after the specified redemption date,provided funds for their redemption are on deposit at the place of payment. Written notice will be deemed completed upon transmission to the owner of record. LITIGATION There is no litigation of any nature now pending or threatened restraining or enjoining the issuance, sale,execution or delivery of the Bonds,or in any way contesting or affecting the validity of the Bonds or any proceedings of the City taken with respect to the issuance or sale thereof. There is no litigation now pending,or to the knowledge of the City,threatened against the City that is expected to materially impact the financial condition of the City. 33 Page 339 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A LEGAL MATTERS The Bonds are subject to approval as to certain legal matters by Ahlers&Cooney,P.C.,Des Moines,Iowa,as Bond Counsel. Bond Counsel has not participated in the preparation of this Official Statement except for guidance concerning the sections regarding"TAX MATTERS",and will not pass upon its accuracy,completeness,or sufficiency. Bond Counsel has not examined nor attempted to examine or verify any of the financial or statistical statements, or data contained in this Official Statement, and will express no opinion with respect thereto. A legal opinion in substantially the form set forth in APPENDIX C to this Official Statement will be delivered at closing. Ahlers&Cooney,P.C. is also serving as Disclosure Counsel for the City in connection with the issuance of the Bonds. The legal opinion to be delivered concurrently with the delivery of the Bonds expresses the professional judgment of the attorneys rendering the opinion as to legal issues expressly addressed therein. By rendering a legal opinion, the opinion giver does not become an insurer or guarantor of the result indicated by that expression of professional judgment, or of the transaction on which the opinion is rendered,or of the future performance of parties to the transaction. Nor does the rendering of an opinion guarantee the outcome of any legal dispute that may arise out of the transaction. In addition,the enforceability of the rights and remedies of owners of the Bonds may be subject to limitation as set forth in the Bond Counsel's opinion. The opinion will state,in part,that the obligation of the City with respect to the Bonds may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted to the extent constitutionally applicable, and to the exercise of judicial discretion in appropriate cases. OFFICIAL STATEMENT AUTHORIZATION This Official Statement has been authorized for distribution to prospective purchasers of the Bonds. All statements, information,and statistics herein are believed to be correct but are not guaranteed by the consultants or by the City, and all expressions of opinion,whether or not so stated, are intended only as such. This Official Statement is not to be construed as a contract or agreement amongst the City,the Underwriter, or the holders of any of the Bonds. Any statements made in this Official Statement involving matters of opinion, whether or not expressly so stated,are intended merely as opinions and not as representations of fact. The information and expressions of opinions contained herein are subject to change without notice and neither the delivery of this Official Statement or the sale of the Bonds made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City since the date hereof. The information contained in this Official Statement is not guaranteed. INVESTMENT RATING The City has supplied certain information and material concerning the Bonds and the City to the rating service shown on the cover page, including certain information and materials which may not have been included in this Official Statement, as part of its application for an investment rating on the Bonds. A rating reflects only the views of the rating agency assigning such rating and an explanation of the significance of such rating may be obtained from such rating agency. Generally,such rating service bases its rating on such information and material,and also on such investigations,studies and assumptions that it may undertake independently. There is no assurance that such rating will continue for any given period of time or that it may not be lowered or withdrawn entirely by such rating service if, in its judgment, circumstances so warrant. Any such downward change in or withdrawal of such rating may have an adverse effect on the secondary market price of the Bonds. An explanation of the significance of the investment rating may be obtained from the rating agency: Moody's Investors Service, 7 World Trade Center at 250 Greenwich Street,New York, New York 10007, telephone 212- 553-1658. 34 Page 340 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A UNDERWRITING The Bonds were offered for sale by the City at a public, competitive sale on December 1, 2021. The best bid submitted at the sale was submitted by (the"Underwriter"). The City awarded the contract for sale of the Bonds to the Underwriter at a price of $ (reflecting the par amount of $ , plus a reoffering premium of $ , and less an Underwriter's discount of$ ). The Underwriter has represented to the City that the Bonds have been subsequently re-offered to the public initially at the yields or prices set forth in the Final Official Statement. MUNICIPAL ADVISOR The City has engaged Speer Financial,Inc. as municipal advisor(the"Municipal Advisor")in connection with the issuance and sale of the Bonds. The Municipal Advisor is a Registered Municipal Advisor in accordance with the rules of the MSRB. The Municipal Advisor will not participate in the underwriting of the Bonds. The financial information included in the Official Statement has been compiled by the Municipal Advisor. Such information does not purport to be a review, audit or certified forecast of future events and may not conform with accounting principles applicable to compilations of financial information. The Municipal Advisor is not a firm of certified public accountants and does not serve in that capacity or provide accounting services in connection with the Bonds. The Municipal Advisor is not obligated to undertake any independent verification of or to assume any responsibility for the accuracy, completeness or fairness of the information contained in this Official Statement,nor is the Municipal Advisor obligated by the City's continuing disclosure undertaking. MISCELLANEOUS Brief descriptions or summaries of the City,the Bonds,the Resolution and other documents,agreements and statutes are included in this Official Statement. The summaries or references herein to the Bonds, the Resolution and other documents, agreements and statutes referred to herein, and the description of the Bonds included herein, do not purport to be comprehensive or definitive,and such summaries,references and descriptions are qualified in their entireties by reference to such documents, and the description herein of the Bonds is qualified in its entirety by reference to the form thereof and the information with respect thereto included in the aforesaid documents. Copies of such documents may be obtained from the City. Any statements in this Official Statement involving matters of opinion or estimates, whether or not expressly so stated, are intended as such and not as representations of fact, and no representation is made that any of the estimates will be realized. This Official Statement is not to be construed as a contract or agreement between the City and the purchasers or Owners of any of the Bonds. The attached APPENDICES A,B,C, and D are integral parts of this Official Statement and must be read together with all of the foregoing statements. It is anticipated that CUSIP identification numbers will be printed on the Bonds,but neither the failure to print such numbers on any Bonds nor any error in the printing of such numbers shall constitute cause for a failure or refusal by the purchaser thereof to accept delivery of and pay for any Bonds. The City has reviewed the information contained herein which relates to it and has approved all such information for use within this Official Statement. The execution and delivery of this Official Statement has been duly authorized by the City. /s/ KELLEY FELCHLE /s/ QUENTIN M.HART City Clerk Mayor CITY OF WATERLOO CITY OF WATERLOO Black Hawk County,Iowa Black Hawk County,Iowa 35 Page 341 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A APPENDIX A CITY OF WATERLOO BLACK HAWK COUNTY,IOWA FISCAL YEAR 2020 COMPREHENSIVE ANNUAL FINANCIAL REPORT Page 342 of 557 Comprehensive Annual Financial Report '...1 i r— - 41 SCAL YEAR E E D JUNE 30, 2020 ITY .O F WATER Ir or l 1 d ....,;��•' _,��� 4 l � {; , �� l +ply �� [ I �. �� CITY OF WATERLOO , IOWA COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended June 30, 2020 Prepared by: City of Waterloo Finance Department Michelle C. Weidner, CPA, Chief Financial Officer Emily Graham, Financial Analyst Brent Bohlen, Financial Analyst Kim Bahr, Financial Analyst Page 344 of 557 Contents Introductory Section Table of contents i–ii Transmittal letter iii–ix Officials x Organizational structure A GFOA Certificate xii Financial Section Independent auditor's report 1-2 Management's discussion and analysis 3-14 Basic financial statements: Government-wide financial statements: Statement of net position 15-16 Statement of activities 17-18 Fund financial statements: Balance sheet—governmental funds 19-22 Reconciliation of governmental funds balance sheet to the statement of net position 23 Statement of revenues, expenditures and changes in fund balances— governmental funds 24-25 Reconciliation of the statement of revenues, expenditures and changes in fund balances of governmental funds to the statement of activities 26 Statement of net position—enterprise funds 27-28 Statement of revenues, expenses and changes in net position— enterprise funds 29 Statement of cash flows—enterprise funds 30-31 Notes to basic financial statements 32-81 Required supplementary information: Schedule of changes in the City's total OPEB liability and related ratios 82 Iowa Public Employees' Retirement System: Schedule of the City's proportionate share of the net pension liability 83-84 Schedule of City contributions 85 Notes to required supplementary information—IPERS pension liability 86 Municipal Fire and Police Retirement System of Iowa: Schedule of the City's proportionate share of the net pension liability 87-88 Schedule of City contributions 89 Notes to required supplementary information—MFPRSI pension liability 90 Budgetary comparison schedule—budget and actual (modified cash basis)—all governmental funds and proprietary funds 91-92 Note to required supplementary information—budgetary reporting 93 Schedule of comparison—funds statements (GAAP basis)to budgetary (modified cash) basis 94-97 Schedule of employer contributions for Waterloo Water Works pension plan 98-99 Schedule of changes in net pension liability and related ratios for Waterloo Water Works pension plan 100-101 Notes to required supplementary information for Waterloo Water Works pension plan 102 IPERS schedule of the Waterloo Water Works' proportionate share of the net pension liability 103-104 IPERS schedule of Waterloo Water Works contributions 105-106 i Page 345 of 557 Contents Financial Section (continued) Supplementary information: Schedule of revenues, expenditures and changes in fund balances—General Fund 107-117 Nonmajor governmental funds: Combining balance sheet 118 Nonmajor special revenue funds: Fund descriptions 119 Combining balance sheet 120-121 Combining statement of revenues, expenditures and changes in fund balances (deficit) 122-123 Capital projects funds: Fund descriptions 124 Combining balance sheet 125-126 Combining statement of revenues, expenditures and changes in fund balances (deficit) 127-128 Fiduciary funds, fund descriptions 129 Agency Fund, statement of changes in assets and liabilities 130 Statistical Section (Unaudited) Statistical section contents 131 Net position by component 132 Changes in net position 133-134 Fund balances—governmental funds 135 Changes in fund balances—governmental funds 136 Assessed and taxable value of property 137 Property tax rates 138 Principal taxpayers 139 Property tax levies and collections 140 Ratios of outstanding debt by type 141 Ratios of general bonded debt outstanding 142 Direct and overlapping governmental activities debt 143 Legal debt margin information 144 Sewer revenue bond coverage 145 Demographic and economic statistics 146 Principal area employers 147 Full-time equivalent city government employees by function/program 148 Operating indicators by function/program 149-150 Capital asset statistics by function/program 151 Compliance Section Schedule of expenditures of federal awards 152-153 Notes to schedule of expenditures of federal awards 154 Summary schedule of prior audit findings 155 Report on internal control over financial reporting and on compliance and other matters based on an audit of financial statements performed in accordance with Government Auditing Standards 156-157 Report on compliance for the major federal program and report on internal control over compliance required by Uniform Guidance 158-159 Schedule of findings and questioned costs 160-162 ii Page 346 of 557 CITY OF WATERLOO , IOWA OFFICE OF THE MAYOR ----- FINANCE DEPARTMENT QUENTIN HART • Mayor MICHELLE WEIDNER,CPA • Chief Financial Officer Mayor QUENTIN HART February 1, 2021 COUNCIL MEMBERS Members of the City Council ..................• and Citizens of the City of Waterloo, Iowa MARGARET We are pleased to present the Comprehensive Annual Financial Report of the City KLEIN of Waterloo, Iowa (City) for the year ended June 30, 2020 in accordance with the Ward I provisions of Chapter 11 of the Code of Iowa. This report is published to provide the City Council and citizens detailed information concerning the financial JONATHAN GRIEDER condition of the City. It has also been audited by an independent certified public Ward 2 accounting firm in accordance with generally accepted auditing standards and the federal single audit act requirements, including the provisions of Title 2 of the PATRICK U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative MORRISSEY Requirements, Cost Principles, and Audit Requirements for Federal Awards Ward 3 (Uniform Guidance). RSM US LLP issued an unmodified ("clean") opinion on JEROME the financial statements for the year ended June 30, 2020. AMOS,JR. Ward a Management assumes full responsibility for the completeness and reliability of RAY the information contained in this report, based upon a comprehensive framework FEUSS of internal control that it has established for this purpose. Because the cost of Wards internal control should not exceed anticipated benefits, the objective is to provide SHARON reasonable, rather than absolute, assurance that the financial statements are free of JUON any material misstatements. At-Large Management's Discussion and Analysis (MD&A) immediately follows the DAVE VEN independent auditor's report and provides a narrative introduction, overview, and BOE At-Large analysis of the basic financial statements. This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. THE CITY'S BACKGROUND AND SERVICES Waterloo is the 6th largest and historically one of the most diverse cities in the state of Iowa, with a population of 68,406, according to the 2010 census. (Current census estimates indicate growth to 72,000.) The City was incorporated in 1868 and is the county seat of Black Hawk County. Waterloo and the neighboring City of Cedar Falls are the primary urban centers in the area, serving as a retail and healthcare hub for the region. The City is empowered to levy a property tax on real property located within its boundaries. ill WE'RE WORKING FOR YOU! An Equal Opportunity/Affirmative Action Employer Page 347 of 557 The City operates under a Mayor — Council form of government, with the mayor as the elected chief executive. The City Council is comprised of seven members, five of whom are elected from separate wards and two who are elected at-large. The Mayor is elected to two-year terms, and the City Council members are elected to four-year staggered terms. The City of Waterloo provides a full range of municipal services to its citizens and is organized into a number of operating departments, the activities of which are directed by the Mayor. The public services provided by the employees of the City include police and fire protection, building inspections and animal control, a regional airport, construction and maintenance of highways, streets and other infrastructure, and recreational and cultural and arts services. The City also provides solid waste collection and wastewater treatment services. Other human services are provided through the community development, housing and human rights departments. The central garage provides vehicle maintenance services, and the human resources, management information systems, city attorney, city clerk and finance departments perform various administrative functions. Funds, agencies,boards, commissions, trusts and authorities involved in the provision of municipal services must be included in the City's financial reporting as component units if the City is financially accountable. Although the Waterloo Water Works and the Waterloo Convention&Visitors Bureau, Inc. are operated as independent entities, they meet the requirements to be considered component units of the City and these entities are included in this report. The Waterloo Community School District and the Metropolitan Transit Authority do not meet the established criteria for component entities of the City and are not included in this report. ECONOMIC OUTLOOK The economy of Waterloo and the Cedar Valley area is seeing continued commercial and industrial activity even amid the COVID-19 pandemic. The largest employer in the City is Deere & Company through its Waterloo Works Drivetrain Operations, Engine Works, Foundry, Product Engineering and Assembly facilities. Other major employers include Tyson Foods, Mercy One, University of Northern Iowa, Unity Point Health, Hy-Vee and Western Home Communities. The area's regional economic development corporation, GROW Cedar Valley, works with the city to help create development in Waterloo as well as the entire metropolitan area. Total building permit valuation for Waterloo was over $100 million for the seventh straight year, reaching $161.1 million for the fiscal year ended June 30, 2020. This marked the second best construction year in history. New housing starts were at 98 new units. Waterloo is a regional retail center for Black Hawk and surrounding counties. After increasing steadily for the past several years, retail sales dipped to $993.2 million in fiscal 2020, assumed due to in part to the pandemic. Waterloo's population has remained relatively stable during the past decade. iv Page 348 of 557 The overall city tax base has reflected an average annual growth of approximately 1.0% during the last five years. The City has developed a more diverse employment base in recent years, although Deere & Company continues to play a major role in the local economy. Deere (a Fortune 100 company) remains the city's largest employer and also its largest taxpayer. The company has invested over $1.0 billion in its Waterloo facilities since 2010, including the Westfield advanced manufacturing facility and the Waterloo Foundry, the largest electric foundry in the state. The City's unemployment level as of October 31, 2020 was 4.6% compared to the state level of 3.6% and the federal level of 6.9%. Downtown/Cedar Valley Riverfront Renaissance The Riverfront Renaissance project utilized state "Vision Iowa" funds, as well as private funds, local funds, and partnerships with other businesses to create three new major developments to revitalize the downtown area along the Cedar River: o The Riverwalk Loop — a walking and recreational trail system along the banks of Cedar River from 1St Street to 181h Street in Downtown Waterloo. o The Cedar River Dam improvements — an inflatable bladder dam system that improved recreational water depth upstream of the dam at 4th Street. o The Riverfront Amphitheater — this space has become a popular destination for many activities, and is bringing more residents and visitors to downtown Waterloo and the riverfront. Downtown/Cedar Valley SportsPlex The Cedar Valley Sport Plex is a 125,000 square-foot recreational facility with indoor soccer fields, gyms, a leisure pool and slide, fitness facility, running track and multi-purpose activity spaces. The facility opened in 2014 and now has approximately 5,600 members. Downtown/Cedar Valley TechWorks Campus At the other end of the Riverwalk Loop, the $52 million Cedar Valley TechWorks Campus Project has transformed two former Deere and Co. 6-story industrial buildings into a Marriott Hotel, Deere Training center (Tech Two building) and a multi-tenant green technology and advanced manufacturing innovation center (Tech One building). This was the first project approved under the Iowa Reinvestment District(IRD)program. Lincoln Savings Bank is currently renovating a 50-year old former Deere factory at a total project investment of $18.3 million. LSB will occupy the top three floors of the Tech One building to house their financial technology operation that is projected to bring over 300 new employees to the Downtown Waterloo area. The IRD development will also include the creation of a Marina along the Cedar River. This will be part of a water trail designation in Black Hawk County in partnership with the City of Cedar Falls. In excess of $500,000 in federal enhancement funds have been programmed for this project. The City is also platting additional lots for commercial development in the area. V Page 349 of 557 Downtown/Other Developments Other developments in the downtown area include the $15 million Grand Crossing development. Phases I and II are complete with 108 condominium units and first floor retail and commercial space. The $8 million urban campus developed by Hawkeye Community College is bringing additional educational and student services populations downtown. The $2.5 million renovation of the historic Friedl Bakery building is now underway. A seven- story 72-unit residential tower, the Art Bloc, is under construction on the riverfront near the RiverLoop Amphitheater. Makenda LLC has completed a $10 million interior and exterior renovation of the former Ramada Hotel in downtown Waterloo, and has re-opened as a dual-branded Best Western Plus and Executive Residency Hotel. The City hired Global Spectrum, L.P. to manage the Convention Center, located directly across the street from this hotel. Lincoln Park, a popular downtown destination, was recently renovated with a $1 million facelift including improved infrastructure, new seating, lighting and walkways. North Crossing North Crossing, the former Logan Plaza Shopping Center in the northern part of the City was acquired by a developer and completely demolished, with plans to replace it with several new medical and retail buildings. All five phases of the project are now complete with over $10 million in new taxable value. The project includes multiple medical buildings, a new Burger King restaurant, Kwik Star convenience store and strip mall renovations. Over 40 acres of land are available for additional development in this area. The public-private partnership for the redevelopment has been created from: ➢ The $30 million Highway 63 redevelopment project which created green space, aesthetics, recreational trails, and economic opportunity along the corridor, as well as improving traffic movements with turning lanes ➢ The continued investment by Unity Point Health (formerly Allen Hospital) with over $40 million in improvements and expansions to the hospital campus, and over $8 million in the Nursing College campus. ➢ The new Carver Academy middle school built on the former Logan School site, offering a more aesthetically pleasing campus setup for students with a greenhouse, and partnerships with other entities. Midport ➢ The City is constructing infrastructure to open over 400 acres for commercial and industrial development in the Waterloo Air & Rail Park (WARP) located near the Waterloo Regional Airport. The City received a State of Iowa RISE award for construction of WARP Drive, which is currently underway. ➢ A number of developers have plans for smaller infill construction projects in the Airport area. ➢ There has been over $2.5 million in private investment in new hangars at the Waterloo Regional Airport. Vi Page 350 of 557 Other New Development Projects Construction continues on the Lost Worlds Theme Park, a $100 million investment by the Bertch family to create a new theme park near Lost Island Waterpark on the city's southeast side. Groundbreaking began in 2019 and the theme park is scheduled to open in the summer of 2022. The former Greyhound Park has been demolished, creating new development land near the major intersection of U.S. Highways 20 and 63. The Love's Travel Center is now open and Warren Transport has announced an $8.6 million project for a new headquarters and vehicle maintenance facility. Additional developments are planned in this area. Con-trol is constructing a $12 million warehouse project in the Northeast Industrial Park. The Boys & Girls Club has finished construction of a $5.0 million Teen Center in the Walnut Historic Neighborhood near downtown. Within this neighborhood, All-In Grocers has started construction on a $2.0 million grocery store and there has been $2.8 million of residential construction and rehabilitation work completed. John Deere has completed a $7.3 million expansion to its Westfield Avenue manufacturing site. The former landfill property near Highway 63 and Ridgeway Road was acquired by a developer and several new projects have been completed or are in process, including a new Casey's convenience store, a medical office, and a dance studio and gymnastics center. Street Improvements The one-cent local option tax was approved in 2013 for another ten years, to be used for street repairs and improvements. Other major construction initiatives that are primarily funded with grants include the reconstruction of Highway 63 through the northern part of the city, which was completed in 2020. The reconstruction of University Avenue from Midway Dr. to U.S. Highway 63 has begun, with estimated completion in 2021. The City has been awarded $12.5 million to assist with the reconstruction of the Park Avenue and 11th St. bridges in the downtown area. Design is underway for the La Porte Road corridor improve streets and bike trails near the new Lost Worlds Theme Park and the Crossroads Shopping Center area. Recreational Facilities The City is also continuing to develop its extensive system of bike trails, which are being connected to countywide and regional trail networks, creating a system of more than 117 miles of trails. The Riverwalk Loop trail in downtown Waterloo has been completed and a new trail has been constructed along the newly constructed Shaulis Road connection from Highway 63 to the Isle of Capri Boulevard. This trail system connects directly into the American Discovery Trail. A recreational area for all-terrain vehicle trails has been developed in the Riverview neighborhood, and a new bike trail is being constructed as part of the University Avenue reconstruction project. The City has received a grant for the construction of the Shaulis Road Recreational Trail in the southeast part of the City, which will be completed in 2021. Vii Page 351 of 557 A new $370,000 skate park has recently been opened next to Straub Baseball Fields in the Riverfront Sports Park area. The park includes more amenities and is no longer located in the floodway. AWARDS The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Waterloo, Iowa for its Comprehensive Annual Financial Report (CAFR) for fiscal year 2019. This is the seventeenth year that the City received this award, which is a prestigious national award, recognizing conformance with the highest standards for the preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized Comprehensive Annual Financial Report, whose contents conform to program standards. The CAFR must satisfy both accounting principles generally accepted in the United States of America and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. Management believes that the current report continues to meet the Certificate of Achievement program requirements and we are submitting it to GFOA to determine its eligibility for another certificate. FINANCIAL MANAGEMENT INFORMATION Budgetary Controls - The City's management staff is responsible and is actively involved in the financial planning and management of the City's daily operations and long-range strategic planning. The objective of budgetary controls is to ensure compliance with the annual budget approved by the City Council, as well as budget control procedures mandated by the State of Iowa. Management control policies adopted by the City Council require that departmental and activity budgets comply with departmental appropriations. Amendments exceeding de minimus guidelines require the specific approval of the City Council Finance Committee. These policies also require certain non-routine expenditures exceeding $1,000 to be pre-authorized by the City Council Finance Committee. Long-term financial and capital improvement planning are crucial strategic functions of the City. The City's management staff, coordinated by the Planning Department, prepares and presents the five-year Capital Improvement Program (CIP) to the Mayor and City Council for their review and approval annually. The CIP outlines the City's planned schedule of capital project construction over the next five-year cycle. The CIP provides an analysis of the financial funding impact and capital debt impact of the planned construction project program. The City met the minimum fund balance requirement for the General Fund and adhered to all other financial policies approved by the City Council. Viii Page 352 of 557 ACKNOWLEDGMENTS This report could not have been completed without the dedicated service of the entire Finance department and other City staff in addition to the RSM US LLP audit team. We want to thank all of the City departments for their assistance in providing data necessary for this report. Special thanks go to Emily Graham, Brent Bohlen and Kimberly Bahr in the Finance Department and also the City Clerk staff. Each of you has our appreciation and respect for your contributions to this report. We also want to thank the members of the City Council for their support of our efforts to conduct the financial operations of the City in a responsible and progressive manner. Sincerely, - J►IJUAiZLu C 4�)-e6�uA-' Quentin M. Hart Michelle C. Weidner, CPA Mayor Chief Financial Officer ix Page 353 of 557 City of Waterloo, Iowa Officials As of June 30, 2020 Name Title Term Expires Elected (Before January, 2020) Quentin Hart Mayor January 2020 Margaret Klein Council Member- 1 st Ward January 2022 Bruce Jacobs Council Member- 2nd Ward January 2020 Patrick Morrissey Council Member- 3rd Ward January 2022 Jerome Amos Council Member-4th Ward January 2020 Christopher Shimp Council Member- 5th Ward January 2022 (Resigned August 2018) Ray Feuss Council Member- 5th Ward January 2022 Sharon Juon Council Member-At-Large January 2022 Steven Schmitt Council Member-At-Large January 2020 (After December 31, 2019) Quentin Hart Mayor January 2022 Margaret Klein Council Member- 1 st Ward January 2022 Jonathan Grieder Council Member- 2nd Ward January 2024 Patrick Morrissey Council Member- 3rd Ward January 2022 Jerome Amos Council Member-4th Ward January 2024 Ray Feuss Council Member- 5th Ward January 2022 Sharon Juon Council Member-At-Large January 2022 Dave Boesen Council Member-At-Large January 2024 Appointed Michelle Weidner, CPA Chief Financial Officer Indefinite Kelley Felchle, CMC City Clerk Indefinite Jamie Knutson, PE City Engineer Indefinite Martin Petersen City Attorney Indefinite Joel Fitzgerald, Sr., Phd. Chief of Waterloo Police Department Indefinite Pat Treloar Chief of Fire Services Indefinite x Page 354 of 557 \) � ElZ! 5 _ §\.( [) »$ § E\ eo 2 =}3 )\�}k z R / e \ ) F-4 \ O \ � § CIO a /$ } 7 )) \ j ) �j ! cd \\\ t ) § xi Page 355 0 557 Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Waterloo Iowa For its Comprehensive Ann«al Financial Report For the Fiscal Year Ended June 30. 2019 P �.�:�.� Executive Director/CEO xii Page 356 of 557 RSM RSM US LLP Independent Auditor's Report Honorable Mayor and Members of the City Council City of Waterloo, Iowa Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Waterloo, Iowa(the City)as of and for the year ended June 30, 2020,and the related notes to the financial statements,which collectively comprise the City's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America;this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement,whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our audit.We did not audit the financial statements of the discretely presented component units,Waterloo Water Works and Waterloo Convention & Visitors Bureau, Inc.,which collectively represent 100%of the assets, net position and revenues of the aggregate discretely presented component units.Those statements were audited by other auditors whose reports have been furnished to us, and our opinion, insofar as it relates to the amounts included for the discretely presented component units, is based solely upon the reports of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.The financial statements of Waterloo Convention &Visitors Bureau, Inc.were not audited in accordance with Government Auditing Standards. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements,whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.Accordingly,we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall financial statement presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, based on our audit and the reports of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities,the business-type activities,the aggregate discretely presented component units, each major fund,and the aggregate remaining fund information of the City of Waterloo, Iowa as of June 30, 2020, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. THE POWER OF BEING UNDERSTOOD AUDIT I TAX I CONSULTING 1 RSM US LLP is the U.S.member firm of RSM International,a global network ofindependertaudit,tax,and consulting firms.Ysitrsmus.com/aboutusformoreirformationregardinJ90,geLI357 of 557 RSM International. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis,the schedule of changes in the City's total OPEB liability and related ratios,the schedule of the City's proportionate share of the net pension liability and schedule of contributions for the Iowa Public Employees' Retirement System,the schedule of the City's proportionate share of the net pension liability and schedule of City contributions for the Municipal Fire and Police Retirement System of Iowa, budgetary comparison schedule, and the Schedule of Contributions for Waterloo Water Works Pension Plan and Schedule of changes in net pension liability and related ratios for the Waterloo Water Works Pension Plan, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical context.We and other auditors have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America,which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries,the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements.We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The accompanying combining individual and nonmajor fund financial statements and other schedules and statements, listed in the table of contents as supplementary information, and the schedule of expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance)are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America by us. In our opinion, based on our audit and the procedures performed as described above,the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. The accompanying introductory and statistical sections are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has not been subjected to the auditing procedures applied in the audits of the basic financial statements, and accordingly,we do not express an opinion or provide any assurance on it. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards,we have also issued our report dated February 1,2021 on our consideration of the City's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing,and not to provide an opinion on the effectiveness of the City's internal control over financial reporting or on compliance.That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control over financial reporting and compliance. as ..4p Davenport, Iowa February 1,2021 2 Page 358 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 As management of the City of Waterloo, we offer readers of the City of Waterloo's financial statements this narrative overview and analysis of the financial activities of the City of Waterloo for the fiscal year ended June 30, 2020. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal, which can be found at pages iii—ix of this report. Financial Highlights • The assets and deferred outflows of resources of the City of Waterloo exceeded its liabilities and deferred inflows of resources at the close of the most recent fiscal year by$439,094,438 (net position). Of this amount, the City's unrestricted net position ($31,868,820) is negative, due to recording the City's share of postemployment benefit liabilities and pension liabilities. • The City's total net position increased by$11,842,967 compared to the 2019 ending net position of $427,251,471. • As of the close of this current fiscal year, the City of Waterloo's governmental funds reported combined ending fund balances of$89,634,383, a decrease of$5,819,393 in comparison with the prior year. Approximately 8.4% of this total amount, $7,513,467, is available for spending at the City's discretion (unassigned fund balance), although some funds are legally limited for specified purposes. • At the end of the current fiscal year, unassigned fund balance for the General Fund was $11,188,047, or 20.4% of total General Fund expenditures. • The City of Waterloo's total long-term liabilities increased by$6,100,324 or 3.6% during the current fiscal year, due to increased general obligation bonds issued for construction projects and increases in other post-employment benefit and pension liabilities. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the City of Waterloo's basic financial statements. The City of Waterloo's basic financial statements are comprised of three components: (1) government-wide financial statements, (2)fund financial statements and (3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the City of Waterloo's finances in a manner similar to a private- sector business. The statement of net position presents information about all of the City of Waterloo's assets, deferred outflows of resources, liabilities and deferred inflows of resources, with the difference between them reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City of Waterloo is improving or deteriorating. The statement of activities presents information illustrating how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). 3 Page 359 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Both of the government-wide financial statements distinguish functions of the City of Waterloo that are principally supported by taxes and intergovernmental revenues (governmental activities)from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City of Waterloo include public safety, public works, health and social services, culture and recreation, community and economic development and general government. In addition, the convention bureau provides marketing services for tourism operated as a separate discretely presented component unit of the City. The business-type activities of the City of Waterloo include the sanitary sewer system and the solid waste system. The water utility is operated as a separate discretely presented component unit of the City. For detailed information about the Waterloo Convention &Visitors Bureau, Inc. or the Waterloo Water Works, please see their separate audited financial statements. The government-wide financial statements include only the City of Waterloo itself(known as the primary government) and its discretely presented component units, the Waterloo Water Works and Waterloo Convention and Visitors Bureau, Inc. The Waterloo Community School District and the Metropolitan Transit Authority provide services to the citizens of Waterloo but do not meet established criteria as component units of the City and thus are not included in this report. Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City of Waterloo, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance- related legal requirements. All of the funds of the City of Waterloo can be divided into three categories: governmental funds, proprietary funds and fiduciary funds. Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financial requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The City of Waterloo maintains 21 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the General Fund, Trust and Agency Fund, Tax Increment Financing Fund, General Obligation Debt Service Fund, and Road Use Tax Fund, all of which are considered to be major funds. Data from the other 16 governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. Proprietary funds. The City of Waterloo maintains two proprietary funds, which are used to report the same functions presented as business-type activities in the government-wide financial statements. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the sanitary sewer fund and the sanitation fund. The sanitary sewer fund is considered to be a major fund of the City of Waterloo. 4 Page 360 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the City of Waterloo's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The City has one type of fiduciary fund, an agency fund. There were no assets held in the fiduciary fund as of June 30, 2020. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. Other information. The City's budgetary comparison schedule and the other postemployment benefit plan schedule of funding progress are presented as required supplementary information immediately following the notes to the financial statements. The combining statements referred to earlier in connection with nonmajor governmental funds are presented immediately following the required supplementary information. Government-wide Financial Analysis As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the City of Waterloo, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by$439,094,438 at the close of the fiscal year ended June 30, 2020. By far the largest portion of the City of Waterloo's net position (97%) reflects its investment in capital assets (e.g., land, buildings and improvements, infrastructure and vehicles and equipment), less any related debt used to acquire those assets that is still outstanding. The City of Waterloo uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City of Waterloo's investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. Statement of Net Position A condensed version of the Statement of Net Position as of June 30, 2020 and 2019 follows: City of Waterloo's Net Position Governmental Activities Business-Type Activities Total 2020 2019 2020 2019 2020 2019 Assets Current and other assets $ 155,294,742 $ 155,726,342 $ 22,615,485 $ 25,095,669 $ 177,910,227 $ 180,822,011 Capital assets 396,727,431 378,952,399 103,850,948 98,402,473 500,578,379 477,354,872 Total assets 552,022,173 534,678,741 126,466,433 123,498,142 678,488,606 658,176,883 Deferred outflows of resources 14,460,706 13,508,321 1,057,253 919,390 15,517,959 14,427,711 Liabilities Current liabilities 23,067,451 21,720,479 4,954,394 5,294,902 28,021,845 27,015,381 Long-term liabilities 153,341,347 145,102,116 20,625,573 22,764,480 173,966,920 167,866,596 Total liabilities 176,408,798 166,822,595 25,579,967 28,059,382 201,988,765 194,881,977 Deferred inflows of resources 52,427,932 50,231,977 495,430 239,169 52,923,362 50,471,146 Net position Net investment in capital assets 338,162,674 320,748,412 87,857,186 81,369,121 426,019,860 402,117,533 Restricted 44,923,907 53,863,633 19,491 47,826 44,943,398 53,911,459 Unrestricted (45,440,432) (43,479,555) 13,571,612 14,702,034 (31,868,820) (28,777,521) Total net position $ 337,646,149 $ 331,132,490 $ 101,448,289 $ 96,118,981 $ 439,094,438 $ 427,251,471 5 Page 361 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 $44,943,398 of the City of Waterloo's net position (10.2%) represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position ($31,868,820) is a negative position, due to the net pension liabilities for the city's share of liabilities in the IPERS and MFPRSI pension plans and the city's liability for other postemployment health care benefits. The separate governmental activities had positive balances in the net investment in capital assets and fund balances restricted for specific purposes. Business-type activities also reported positive balances in all categories. The same situation held true for the prior fiscal year. The City's total net position increased compared to the 2019 ending net position. Governmental-type activities' net position increased by$6,513,659, from the 2019 net position of$331,132,490. This increase was largely related to capital invested in City infrastructure projects. See page 26 for a reconciliation of this increase. The total business-type activities' net position increased by$5,329,308 from the 2019 net position of$96,118,981, due to capital invested in City infrastructure projects and debt retirement payments. Statement of Activities A condensed version of the Statement of Activities as of June 30, 2020 and 2019 follows: City of Waterloo's Changes in Net Position Governmental Activities Business-Type Activities Total 2020 2019 2020 2019 2020 2019 Revenues: Program revenues: Charges for services $ 13,938,071 $ 11,721,123 $ 21,702,047 $ 18,549,691 $ 35,640,118 $ 30,270,814 Operating grants and contributions 12,158,925 12,380,601 275,862 273,624 12,434,787 12,654,225 Capital grants and contributions 7,151,415 8,651,622 356,837 310,250 7,508,252 8,961,872 General revenues: Property taxes 49,332,480 47,722,089 - - 49,332,480 47,722,089 Othertaxes 19,039,780 18,757,207 - - 19,039,780 18,757,207 Other 6,433,598 3,654,703 245,204 249,909 6,678,802 3,904,612 Total revenues 108,054,269 102,887,345 22,579,950 19,383,474 130,634,219 122,270,819 Expenses: Public safety 38,539,492 33,071,755 - - 38,539,492 33,071,755 Public works 27,453,883 27,415,746 - - 27,453,883 27,415,746 Health and social services 265,757 279,470 - - 265,757 279,470 Culture and recreation 11,297,723 12,573,777 - - 11,297,723 12,573,777 Community and economic development 11,778,352 11,593,102 - - 11,778,352 11,593,102 General government 9,792,001 9,049,085 9,792,001 9,049,085 Interest on long-term debt 2,413,402 2,452,792 - - 2,413,402 2,452,792 Sanitary sewer - - 12,287,197 12,254,389 12,287,197 12,254,389 Sanitation - - 4,963,445 4,196,226 4,963,445 4,196,226 Total expenses 101,540,610 96,435,727 17,250,642 16,450,615 118,791,252 112,886,342 Increase in net position before transfers 6,513,659 6,451,618 5,329,308 2,932,859 11,842,967 9,384,477 Transfers - (633,323) - 633,323 - - Change in net position 6,513,659 5,818,295 5,329,308 3,566,182 11,842,967 9,384,477 Net position,beginning,restated 331,132,490 325,314,195 96,118,981 92,552,799 427,251,471 417,866,994 Net position,ending $ 337,646,149 $ 331,132,490 $ 101,448,289 $ 96,118,981 $ 439,094,438 $ 427,251,471 6 Page 362 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Total governmental activities' revenue for the current fiscal year was $108,054,269. The largest single revenue source for the City was property taxes of$49,332,480. Property taxes increased by$1,610,391 (3.4%) during the year. This increase is a result of a combination of factors, including an increase in the assessed value of property of 2.23%, an increase of 2.92% in the taxable value of property and an increase of 0.53% in the levy rate. Certain revenues are generated that are specific to governmental program activities. These totaled $26,096,996during the fiscal year ended June 30, 2020. The graph below illustrates the comparison between the expenses by governmental activity type and the revenues generated that are specific to those activities. Expenses and Program Revenues—Governmental Activities $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 L L 111110L� Pudic safety Pudic works Health and Culture and Community General Interest and social recreation and government issuance services economic costs on development long-term debt ■Expenses ■Revenues The graph below shows the percentage of the total governmental revenues allocated by each revenue type. Revenues by Source - Governmental Activities Other Charges for 6% I f services 13% Other Taxes 18% Operating Grants and Contributions 11% .A--IPA Capital Grants and Contributions lip 6% Property Taxes 46% 7 Page 363 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Total business-type activities' revenue for the fiscal year was $22,579,950. $22,334,746 of this revenue was generated for specific business-type activity expenses. The graph below shows a comparison between the business-type activity expenses and program revenues. Expensesand Program Revenues-Business-Type Activities $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 Sanitary Sewer Sanitation ■Expenses ■Revenues The graph below shows the breakdown of revenues by source for the business-type activities. Revenues by Source - Business-Type Activities Operating Grants Capital Grants and P 9 Contributions and Contributions 2% 1% Charges for services 97% Business-type activities. Business-type activities increased the City of Waterloo's net position by $5,329,308 from the 2019 net position of$96,118,981, accounting for 45.0% of the increase in the City's net position. 8 Page 364 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Financial Analysis of the Government's Funds As noted earlier, the City of Waterloo uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds. The focus of the City of Waterloo's governmental funds is to provide information on near-term inflows, outflows and balances of spendable resources. Such information is useful in assessing the City of Waterloo's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the City of Waterloo's governmental funds reported combined ending fund balances of$89,634,383, a decrease of$5,819,393 in comparison with the prior year. Fund balance in the amount of$82,120,916 is not available for new spending because it represents amounts previously paid for items that were not exhausted at year-end (nonspendable)or has already been restricted, committed or assigned to be used for a variety of purposes. Approximately 8.4% of total fund balance or$7,513,467, constitutes unassigned fund balance. The General Fund is the chief operating fund of the City of Waterloo. At the end of the current fiscal year, unassigned fund balance of the General Fund was $11,188,047, while total fund balance was $23,523,940. As a measure of the General Fund's liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 20.4% of total General Fund expenditures, while total fund balance represents 42.9% of that same amount. Net general fund operations resulted in an increase in total general fund balance of $849,883, and an increase in unassigned fund balance of$910,932 for the year. A significant source of the increase was due to a new program implemented by the state that the City participated in that resulted in increased ambulance fee revenue during the year. This resulted in a substantial increase in revenue, net of related expense, for the year in the amount of$1.4 million. General interest revenue exceeded the budgeted amount by$300,000, also contributing to performance. The Governor of Iowa closed many businesses and governmental activities due to the pandemic beginning March 16, 2020. These closures resulted in less revenue in the cultural and recreational program area. As a result, the city reduced part-time staffing as programming was curtailed in many areas and worked to match spending to anticipated revenues. Positions that were vacant for portions of the year also contributed to general fund performance being better than expected. Because of the large health insurance reserves built up the past several years, the City chose to reduce property taxes for health insurance again and instead used a portion of the restricted health reserves to pay claims during the year ended June 30, 2020. The General Obligation Debt Service Fund -The net decrease in fund balance of$510,531 during the current year is primarily due to lower than budgeted receipts from the Iowa Reinvestment District fund that are dedicated to debt repayment. Trust and Agency Fund —The net decrease in fund balance of$113,101 during the current year is due primarily to employee benefits expense being higher than expected due to actual negotiated pay increases that were higher than anticipated when the budget was established. There were also fewer vacant fire and police vacant positions during the year, resulting in higher than expected pension contributions. 9 Page 365 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 TIF Fund - The total fund balance of$2,528,646 is restricted for the payment of debt service related to tax increment financing district projects. The net decrease in fund balance during the current year was $1,001,005 and is the result of timing differences between revenue collections and the payment of TIF obligations. Road Use Tax Fund—The net decrease in fund balance in the road use tax fund of$7,055,258 is due primarily to the use of transfer of jurisdiction funds received from the State of Iowa for University Avenue in prior years that were spent on construction during the current year. Proprietary funds. The City of Waterloo's proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. Total net position of the sanitary sewer fund at the end of the year was $97,212,825, an increase of $4,906,902 from the 2019 net position of$92,305,923. This increase was due primarily to investments in the construction of mandated sewer infrastructure projects Other factors concerning the finances of the sanitary sewer fund have already been addressed in the discussion of the City of Waterloo's business-type activities. Budgetary Highlights In accordance with the Code of Iowa, the City Council annually adopts a budget on the modified cash basis following required public notice and hearing for all funds. The annual budget may be amended during the year utilizing similar statutorily prescribed procedures. Formal and legal budgetary control is based upon ten major classes of disbursements known as functions, not by fund or fund type. These ten functions are: public safety, public works, health and social services, culture and recreation, community and economic development, general government, debt service, capital projects, business-type and non-program. Function disbursements required to be budgeted include disbursements for the general fund, special revenue funds, debt service fund, capital projects funds and permanent funds. Although the budget document presents function disbursements by fund, the legal level of control is at the aggregated function level, not at the fund or fund type level. These budget amendments are reflected in the final budgeted amounts. Differences between the original budget and the final amended budget for the City of Waterloo are summarized below. The total original expenditure budget of$187,480,550 including transfers out was increased to $217,360,237 (an increase of$29,879,687). • In the Public Safety program category, expenses and related revenue for various law enforcement grants and non-property tax funded projects were increased ($1.9 million). • In the Public Works category, the use of Local Option Tax fund balance was added to fund the anticipated increase in expenses for street reconstruction ($3 million). • The Culture & Recreation program category was increased to reflect a number of additional grants and donations received by the Cultural and Arts department, the Library and Leisure Services. Revenue and expenses were increased for the Sportsplex to more closely match operations and the use of unassigned fund balance was increased for Young Arena operations ($.1 million). • Additional federal revenue and expense expected to be completed using Block Grant and Housing funds were added to the Community and Economic Development category($1.1 million). • Amendments reflecting the use of restricted health insurance reserves and insurance refunds to fund additional claims were made in the General Government category($1.9 million). 10 Page 366 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 • In the Capital Projects program, additional expenses relating to grant revenue awarded during the year that was not originally budgeted were added. Several construction project budgets were adjusted to more accurately reflect the work expected to be completed by June 30, 2020 ($4.3 million). • In the Business Type/Enterprises activity, which accounts for the activities of the sewer and garbage funds, line item adjustments were made to more accurately reflect the amount that will be spent for capital improvement projects and operations by June 30, 2020 ($2.5 million). The total original revenue budget, including other financing sources of$166,770,267 was increased to $191,242,488 (an increase of$24,472,221). • State and federal grant revenue was increased to reflect additional grants awarded after the original budget certification for a variety of programs, including community development block grants, public safety projects, airport and traffic improvements, and storm water lift stations ($3.9 million). • Other city tax revenue was increased to reflect an increase in hotel/motel tax sales tax revenue estimate ($.2 million). • Amendments were made to various charges for services to reflect higher revenues than originally anticipated with the certified budget ($1 million). • Miscellaneous revenue was increased to reflect additional donations received for various City projects, insurance and other refunds, and interest revenue received that exceeded original budget projections ($5.5 million). See pages 91 through 97 for the Budgetary Comparison Schedule - Budget and Actual (Modified Cash Basis)—All Governmental Funds and Proprietary Funds. Capital Asset and Debt Administration Capital Assets. The City of Waterloo's investment in capital assets for its governmental and business- type activities as of June 30, 2020, amounts to $500,578,379 (net of accumulated depreciation) as reflected in the following table. The total increase in the City of Waterloo's investment in capital assets for the current fiscal year was 5.9% (a 5.4% increase for governmental activities and a 8.0% increase for business-type activities). 11 Page 367 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 This investment in capital assets includes land, buildings and improvements, park facilities, vehicles and equipment, and roads, highways and bridges (also referred to as infrastructure assets) placed in service since July 1, 1980. City of Waterloo's Capital Assets at Fiscal Year End(Net of Depreciation) Governmental Activities Business-Type Activities Total 2020 2019 2020 2019 2020 2019 Land $ 46,081,492 $ 44,849,615 $ 657,900 $ 657,900 $ 46,739,392 $ 45,507,515 Land held for redevelopment 16,640,416 14,491,090 - 16,640,416 14,491,090 Buildings and improvements 63,108,990 61,912,764 42,628,505 44,056,597 105,737,495 105,969,361 Other improvements - 47,909,270 43,735,483 47,909,270 43,735,483 Software 50,607 90,012 - 50,607 90,012 Infrastructure 245,310,129 225,192,278 - - 245,310,129 225,192,278 Furniture,vehicles,machinery and equipment 9,531,033 8,951,060 4,918,931 4,139,194 14,449,964 13,090,254 Construction-in-progress 16,004,764 23,465,580 7,736,342 5,813,299 23,741,106 29,278,879 $ 396,727,431 $ 378,952,399 $ 103,850,948 $ 98,402,473 $ 500,578,379 $ 477,354,872 Major capital assets events during the current fiscal year included the following: • The City acquired properties for economic development ($2.2 million). Land held for redevelopment was transferred to private parties for redevelopment ($.06 million). • New additions to buildings and improvements totaled $4.8 million, including a new police evidence storage building, a replacement maintenance building for the Gates Park golf course and Airport runway and parking lot improvements. • The City invested $2.6 million in new vehicles, equipment, computers and software for various city departments. The most significant of these included two ambulances, a snow blower, and a piece of equipment referred to as a durapatcher for street repairs. • New investments in infrastructure assets totaled $29.6 million, including the completion of the first phase of the University Avenue street reconstruction project at$9.8 million, as well as several other street reconstruction projects, the renovation of Lincoln Park downtown and parking improvements at the Cedar River Boathouse. • The City invested $5.4 million in a number of sewer reconstruction projects during the year and $0.8 million in new vehicles and equipment for the sewer and sanitation departments, including two garbage trucks and a backhoe. Additional information about the City of Waterloo's capital assets can be found in Note 6 of this report. 12 Page 368 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Long-term liabilities. At the end of the current fiscal year, the City of Waterloo had total bonded debt outstanding of$100.345 million. This entire amount is comprised of debt backed by the full faith and credit of the government. This was an increase of$2.4 million from the prior year, net of premiums and discounts. The additional debt was issued for design work on Shaulis Road and the reconstruction of University Avenue. The long-term portion of the state revolving fund capital loans being issued for sewer improvements declined by$64,000 during the year. The amount of other loans, originally issued to purchase land in the City's industrial parks for economic development projects and to provide developer incentives, declined by$1.06 million due to annual debt retirement. The City has obligations to employees for benefit time not used at fiscal year-end. During the current fiscal year the balance due on these obligations decreased by$409,368 due to additional benefits accrued. The City of Waterloo's total long-term liabilities increased by$6.1 million (3.6%) during the current fiscal year, due to the items discussed above and increases in other post-employment benefits of$1.8 million and increases in estimated pension liabilities of$2.3 million. The City of Waterloo maintains an Aa2 rating from Moody's Investor Services, Inc. for general obligation debt. State statutes limit the amount of general obligation debt a governmental entity may issue to 5% of its total assessed valuation. The current debt limitation for the City of Waterloo is $197,266,242 which is significantly greater than the City of Waterloo's outstanding general obligation debt ($101,835,458) and other debt subject to debt limitation ($5,862,641). The total debt subject to this limitation is $107,698,099, resulting in available debt margin of$89,568,143. Additional information about the City of Waterloo's long-term liabilities can be found in Note 9 of this report. Economic Factors and Next Year's Budgets and Rates Property taxes provide 48% of General Fund revenues. Over the past five years, citywide assessed valuations have risen an average of 0.5% annually, while property tax regulations imposed by the State of Iowa resulted in taxable values increasing by an average of 1.32% over that same time period. The fiscal 2021 budget reflects an increase in total property tax and utility excise tax revenue of 4.3%. As discussed elsewhere in this report, the City budgeted to use$750,000 in general fund reserves for general operations for the year ended June 30, 2021. Personnel costs comprise a significant portion of City operating costs.Wage increases identified in contractual bargaining agreements range from 2.2% to 2.75% for fiscal year 2021. The employer contribution rate required for the Municipal Fire and Police Retirement System will increase by 3.69%. Anticipated health care costs for the year ending June 30, 2021 are expected to increase at a rate of 9.3%. Federal and state mandates for clean water continue to result in additional costs both for sewer system users and property taxpayers. Significant construction and revolving fund loan borrowing are anticipated during the next fiscal year. Sanitary and storm water rates were increased effective July 1, 2020 to address these issues. These factors were considered in preparing the City of Waterloo's budget for fiscal year 2021. 13 Page 369 of 557 City of Waterloo, Iowa Management's Discussion and Analysis For Fiscal Year Ended June 30, 2020 Requests for Information This financial report is designed to provide a general overview of the City of Waterloo's finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to: Michelle C. Weidner, CPA, Chief Financial Officer, City of Waterloo, 715 Mulberry Street, Waterloo, Iowa 50703. 14 Page 370 of 557 City of Waterloo, Iowa Statement of Net Position June 30, 2020 Component Units Waterloo Primary Government Convention Governmental Business-Type Waterloo &Visitors Activities Activities Total Water Works Bureau,Inc. Assets Current assets: Cash and cash equivalents $ 81,040,157 $ 14,969,015 $ 96,009,172 $ 17,597,263 $ 177,931 Restricted cash and cash equivalents 929,908 - 929,908 - - Investments - - - 456,046 537,222 Receivables: Customer accounts,net of allowance for uncollectible accounts 2,368,757 4,521,399 6,890,156 1,893,405 - Property taxes: Delinquent 1,246,401 - 1,246,401 - Succeeding year 49,788,234 - 49,788,234 Internal accounts (38,704) 38,704 - Due from other governments: Component unit 77,847 1,430,932 1,508,779 - Primary government - - - 111,203 Other 7,899,489 19,271 7,918,760 - - Accrued interest 13,278 - 13,278 7,127 2,479 Special assessments - 345,646 345,646 - - Inventories and prepaids 725,249 52,790 778,039 549,680 6,409 Total current assets 144,050,616 21,377,757 165,428,373 20,503,521 835,244 Noncurrent assets: Restricted assets: Cash and cash equivalents 11,011,322 1,237,728 12,249,050 - - Investments - - - 193,645 294,187 Receivables 11,030 11,030 - 42,605 Special assessments receivable 221,774 - 221,774 179,309 - Capital assets,net of accumulated depreciation 318,000,759 95,456,706 413,457,465 28,081,067 48,222 Capital assets not being depreciated 78,726,672 8,394,242 87,120,914 4,439,612 - Total noncurrent assets 407,971,557 105,088,676 513,060,233 32,893,633 385,014 Total assets 552,022,173 126,466,433 678,488,606 53,397,154 1,220,258 Deferred outflows of Resources Pension related amounts 12,268,459 717,705 12,986,164 399,063 - OPEB related amounts 2,192,247 339,548 2,531,795 - Total deferred outflows of resources 14,460,706 1,057,253 15,517,959 399,063 - See notes to basic financial statements. 15 Page 371 of 557 Component Units Waterloo Primary Government Convention Governmental Business-Type Waterloo &Visitors Activities Activities Total Water Works Bureau,Inc. Liabilities Current: Accounts and retainages payable $ 5,812,492 $ 2,246,880 $ 8,059,372 $ 1,509,805 $ 7,447 Accrued liabilities and other 2,145,154 230,694 2,375,848 141,360 9,716 Due to primary government - - - 1,298,865 - Due to component unit 111,203 111,203 - Due to other governments - - - 56,190 Noncurrent liabilities due and payable within one year 12,489,906 2,441,983 14,931,889 60,883 Unearned revenues 990,469 - 990,469 - Current liabilities payable from restricted assets: Health claims 929,908 929,908 Other 312,938 - 312,938 Accrued interest 275,381 34,837 310,218 - - Total current liabilities 23,067,451 4,954,394 28,021,845 3,067,103 17,163 Noncurrent: Customer deposits 33,926 417,030 450,956 193,645 - Worker's compensation claims 561,323 - 561,323 - General obligation bonds and notes,net of bond discounts and premium 78,703,792 12,519,676 91,223,468 State revolving fund capital loan - 1,835,495 1,835,495 Other loans and notes 4,799,400 - 4,799,400 Total postemployment benefits liability 19,076,867 2,954,732 22,031,599 Compensated absences 2,116,077 71,976 2,188,053 - Net pension liability 48,049,962 2,826,664 50,876,626 2,670,078 Total noncurrent liabilities 153,341,347 20,625,573 173,966,920 2,863,723 Total liabilities 176,408,798 25,579,967 201,988,765 5,930,826 17,163 Deferred Inflows of Resources Property taxes 49,788,234 - 49,788,234 - - Pension related amounts 2,419,283 461,291 2,880,574 640,333 OPEB related amounts 220,415 34,139 254,554 - Total deferred inflows of resources 52,427,932 495,430 52,923,362 640,333 Net Position Net investment in capital assets 338,162,674 87,857,186 426,019,860 32,520,680 48,222 Restricted for: Debt service 2,493,456 19,491 2,512,947 - - Tourism promotion 1,732,646 - 1,732,646 Public access television 218,701 218,701 Civil rights enforcement 82,376 82,376 Housing 4,954,936 4,954,936 Donor specified 1,047,504 1,047,504 Library 425,857 425,857 Street and right-of-way maintenance 19,341,897 19,341,897 Improvements 9,665,488 9,665,488 Self-funded insurance 4,575,258 4,575,258 Employee benefits 385,788 - 385,788 - - Unrestricted(deficit) (45,440,432) 13,571,612 (31,868,820) 14,704,378 1,154,873 Total net position $ 337,646,149 $ 101,448,289 $ 439,094,438 $ 47,225,058 $ 1,203,095 16 Page 372 of 557 City of Waterloo, Iowa Statement of Activities Year Ended June 30, 2020 Program Revenues Operating Capital Direct Indirect Charges for Grants and Grants and Expenses Allocations Services Contributions Contributions Programs/Functions Governmental activities: Public safety $ 38,539,492 $ - $ 7,036,405 $ 859,056 $ - Public works 27,833,883 (380,000) 2,337,247 8,955,221 1,325,649 Health and social services 265,757 - 18,867 - Culture and recreation 11,347,723 (50,000) 3,213,303 352,705 - Community and economic development 11,778,352 588,840 1,853,304 5,825,766 General government 10,430,501 (638,500) 762,276 119,772 - Interest and issuance costs on long-term debt 2,413,402 - - - Total governmental activities 102,609,110 (1,068,500) 13,938,071 12,158,925 7,151,415 Business-type activities: Sanitary Sewer 11,595,197 692,000 16,657,811 2,005 356,837 Sanitation 4,586,945 376,500 5,044,236 273,857 - Total business-type activities 16,182,142 1,068,500 21,702,047 275,862 356,837 Total primary government $ 118,791,252 $ - $ 35,640,118 $ 12,434,787 $ 7,508,252 Component unit,Waterloo Water Works $ 7,598,071 $ $ 10,502,393 $ - $ 38,488 Component unit,Waterloo Convention& Visitors Bureau,Inc. $ 744,474 $ $ $ 553,603 $ General Revenues Taxes: Property taxes Othertaxes: Local option sales Utility excise Gaming Hotel/motel Gas and electric Cable television Mobile home Bank/credit union Investment earnings Miscellaneous Gain on sale of capital assets Total general revenues and transfers Changes in net position Net position,beginning of year Net position,end of year See notes to basic financial statements. 17 Page 373 of 557 Net(Expense)Revenue and Changes in Net Position Primary Government Component Units Waterloo Convention& Governmental Business-Type Waterloo Visitors Activities Activities Total Water Works Bureau,Inc. $ (30,644,031) $ $ (30,644,031) $ $ (14,835,766) (14,835,766) (246,890) (246,890) (7,731,715) (7,731,715) (3,510,442) (3,510,442) (8,909,953) (8,909,953) (2,413,402) (2,413,402) (68,292,199) (68,292,199) 4,729,456 4,729,456 354,648 354,648 5,084,104 5,084,104 (68,292,199) 5,084,104 (63,208,095) - 2,942,810 - - - (190,871) 49,332,480 49,332,480 11,083,075 11,083,075 1,363,258 1,363,258 984,156 984,156 985,466 985,466 3,764,060 3,764,060 646,853 646,853 59,593 59,593 153,319 - 153,319 - - 978,205 205,504 1,183,709 314,041 16,531 5,455,393 - 5,455,393 1,203,914 47,709 - 39,700 39,700 13,753 - 74,805,858 245,204 75,051,062 1,531,708 64,240 6,513,659 5,329,308 11,842,967 4,474,518 (126,631) 331,132,490 96,118,981 427,251,471 42,750,540 1,329,726 $ 337,646,149 $ 101,448,289 $ 439,094,438 $ 47,225,058 $ 1,203,095 18 Page 374 of 557 City of Waterloo, Iowa Balance Sheet Governmental Funds June 30, 2020 Trust and General Agency Assets Cash and cash equivalents $ 12,825,130 $ 498,826 Receivables: Customer accounts, net 2,340,694 - Property tax: Delinquent 414,870 217,099 Succeeding year 20,400,576 12,390,139 Special assessments 221,774 - Accrued interest 528 31 Due from other funds 4,781,167 - Due from other governments: Federal 99,161 Iowa 284,998 - Other 197,549 98,083 Inventories and prepaids 584,290 - Restricted assets: Cash and cash equivalents 7,007,460 1,844,107 Receivables 11,030 - Advances to other funds - - Total assets $ 49,169,227 $ 15,048,285 (Continued) 19 Page 375 of 557 Tax Increment General Obligation Road Use Other Financing Debt Service Tax Governmental Total $ 4,129,230 $ 635,329 $ 19,720,137 $ 43,231,505 $ 81,040,157 - - 5,561 22,502 2,368,757 439,746 162,200 - 12,486 1,246,401 9,388,510 7,000,000 609,009 49,788,234 - - - 221,774 31 16 12,672 13,278 - - - 4,781,167 - - - 572,517 671,678 - - 1,874,293 3,698,750 5,858,041 40,649 60,925 22,519 1,027,892 1,447,617 - - 123,979 16,980 725,249 - 212,090 - 2,877,573 11,941,230 - - - - 11,030 - - 108,189 21,423 129,612 $ 13,998,166 $ 8,070,560 $ 21,854,678 $ 52,103,309 $ 160,244,225 20 Page 376 of 557 City of Waterloo, Iowa Balance Sheet (Continued) Governmental Funds June 30, 2020 Trust and General Agency Liabilities,Deferred Inflows of Resources and Fund Balances Liabilities Accounts payable $ 458,703 $ Retainages payable 23,901 Accrued liabilities 1,626,800 211,149 Due to other funds - - Unearned revenue 569,913 Compensated absences 93,506 Due to Waterloo Convention&Visitors Bureau, Inc. 111,203 Payables from restricted assets 1,242,846 Advances from other funds 168,316 - Totalliabilities 4,295,188 211,149 Deferred Inflows of Resources Unavailable revenue—property tax 20,815,446 12,607,238 Unavailable revenue—local option sales tax - - Unavailable revenue—special assessments 221,774 Unavailable revenue—intergovernmental and other 312,879 - Total deferred inflows of resources 21,350,099 12,607,238 Fund balances Nonspendable 584,290 - Restricted 5,888,663 2,229,898 Committed 229,791 - Assigned 5,633,149 Unassigned 11,188,047 - Total fund balances 23,523,940 2,229,898 Total liabilities,deferred inflows of resources and fund balances $ 49,169,227 $ 15,048,285 See notes to basic financial statements. 21 Page 377 of 557 Tax Increment General Obligation Road Use Other Financing Debt Service Tax Governmental Total $ 55,394 $ 6,342 $ 1,363,158 $ 2,816,460 $ 4,700,057 - - 829,481 259,053 1,112,435 - 189,991 117,214 2,145,154 1,585,870 - 3,195,297 4,781,167 - - 420,556 990,469 - 5,824 9,032 108,362 - - - 111,203 33,926 1,276,772 - - - - 168,316 1,641,264 6,342 2,388,454 6,851,538 15,393,935 9,828,256 7,162,200 - 621,495 51,034,635 - - 1,390,205 1,390,205 - - - 221,774 - - 348 2,256,066 2,569,293 9,828,256 7,162,200 348 4,267,766 55,215,907 - - 123,979 16,980 725,249 1,866,819 902,018 19,341,897 42,393,043 72,622,338 - - - - 229,791 661,827 - 2,248,562 8,543,538 - - - (3,674,580) 7,513,467 2,528,646 902,018 19,465,876 40,984,005 89,634,383 $ 13,998,166 $ 8,070,560 $ 21,854,678 $ 52,103,309 $ 160,244,225 22 Page 378 of 557 City of Waterloo, Iowa Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position June 30, 2020 Total governmental fund balances $ 89,634,383 Amounts reported for governmental activities in the statement of net position are different because: Capital assets net of accumulated depreciation used in governmental activities are not financial resources and,therefore,are not reported as assets in the governmental funds 396,727,431 Certain revenues are not available to pay for current period expenditures and,therefore,are reported as deferred inflows of resources in the funds 5,427,673 Pension and other post employment benefits obligation(OPEB)related deferred outflows of resources and deferred inflows of resources are not reported in the governmental funds,but are amortized and recognized as a component of pension/OPEB expense in the government-wide financial statements,as follows: Deferred outflows of resources—IPERS $ 2,874,776 Deferred outflows of resources—MFPRSI 9,393,683 Deferred outflows of resources—OPEB 2,192,247 Deferred inflows of resources—IPERS (1,795,738) Deferred inflows of resources—MFPRSI (623,545) Deferred inflows of resources—OPEB (220,415) 11,821,008 Long-term liabilities, including bonds payable,are not due and payable in the current period and,therefore,are not reported in the funds: General obligation bonds (85,980,000) Other loans and notes (5,862,152) Bond discount 172,379 Bond premium (1,469,171) Total OPEB liability (19,076,867) Workers'compensation claims payable (561,323) Compensated absences (4,861,869) Net pension liability—IPERS (11,435,190) Net pension liability—MFPRSI (36,614,772) Accrued interest payable (275,381) (165,964,346) Net position of governmental activities $ 337,646,149 See notes to basic financial statements. 23 Page 379 of 557 City of Waterloo, Iowa Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds Year Ended June 30, 2020 Trust and General Agency Revenues: Property taxes $ 21,085,430 $ 10,919,898 Other taxes 7,298,000 400,527 Licenses and permits 1,449,113 - Investment income 465,149 44,390 Rent 1,107,525 - Intergovernmental 1,077,524 Charges for services 9,788,667 Interfund charges for services 2,130,000 Special assessments 126,258 Miscellaneous 2,121,921 - Total revenues 46,649,587 11,364,815 Expenditures: Current operating: Public safety 29,722,252 4,282,240 Public works 3,177,164 - Health and social services 270,460 Culture and recreation 9,317,371 Community and economic development 2,824,714 - General government 9,480,205 24,489 Debt service: Principal - - Interest and fees Capital outlay - - Total expenditures 54,792,166 4,306,729 Excess(deficiency)of revenues over expenditures (8,142,579) 7,058,086 Other financing sources(uses): Transfers in 7,462,766 Transfers out (185,750) (7,171,187) Bond premium - Proceeds from sale of capital assets 56,088 Proceeds from insurance 1,659,358 Issuance of long-term debt - Total other financing sources(uses) 8,992,462 (7,171,187) Net changes in fund balances 849,883 (113,101) Fund balances,beginning of year 22,674,057 2,342,999 Fund balances,end of year $ 23,523,940 $ 2,229,898 See notes to basic financial statements. 24 Page 380 of 557 Tax Increment General Obligation Road Use Other Financing Debt Service Tax Governmental Total $ 8,352,794 $ 7,099,912 $ $ 628,045 $ 48,086,079 - 235,142 10,293,906 18,227,575 - - 17,532 - 1,466,645 51,484 31,950 - 385,232 978,205 - 56,948 - 185,792 1,350,265 - 8,984,473 9,533,975 19,595,972 55,117 174,883 10,018,667 50,000 - 2,180,000 - - - 126,258 - 224,524 163,006 1,179,899 3,689,350 8,404,278 7,648,476 9,270,128 22,381,732 105,719,016 - - - - 34,004,492 7,798,778 11,160,907 22,136,849 - - 270,460 - 589,461 9,906,832 2,065,722 7,692,927 12,583,363 - - 64,020 9,568,714 142,351 13,480,000 901,429 14,523,780 58,138 2,352,744 - 250,669 2,661,551 - - 8,526,608 17,191,504 25,718,112 2,266,211 15,832,744 16,325,386 37,850,917 131,374,153 6,138,067 (8,184,268) (7,055,258) (15,469,185) (25,655,137) 185,754 2,982,999 4,266,272 14,897,791 (7,324,826) - (216,028) (14,897,791) 45,738 399,560 445,298 - - 56,088 - - 1,659,358 4,645,000 13,030,000 17,675,000 (7,139,072) 7,673,737 17,479,804 19,835,744 (1,001,005) (510,531) (7,055,258) 2,010,619 (5,819,393) 3,529,651 1,412,549 26,521,134 38,973,386 95,453,776 $ 2,528,646 $ 902,018 $ 19,465,876 $ 40,984,005 $ 89,634,383 25 Page 381 of 557 City of Waterloo, Iowa Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities Year Ended June 30, 2020 Net change in fund balances—governmental funds $ (5,819,393) Amounts reported for governmental activities in the statement of activities are different because: Capital outlays to purchase or construct capital assets are reported in the governmental funds as expenditures.However,those costs are reported in the statement of net position and are allocated over their estimated useful lives as depreciation expense in the statement of activities.The amounts of capital outlay and depreciation expense for the year are as follows: Capital outlay $ 33,038,208 Depreciation (15,126,998) 17,911,210 The net effect of various miscellaneous transactions involving capital assets is to increase/ decrease net position: Proceeds from sale of capital assets (56,088) Net(loss)on disposal of capital assets (80,090) (136,178) The issuance of long-term debt provides current financial resources to governmental funds while repayment of the principal of long-term debt consumes current financial resources.These transactions have no effect on the change in net position in the statement of activities.Also,governmental funds report the effect of premiums and discounts when debt is first issued,whereas these amounts are deferred and amortized in the statement of activities.In addition,interest is accrued on outstanding debt in the statement of net position whereas in the governmental funds an interest expenditure is reported only when due.The following is a detail of the net effect on these differences in the treatment of long-term debt and related items: General obligation bonds issued for governmental purposes (17,675,000) Repayment of general obligation bond principal 13,480,000 Repayment of other long-term debt principal 1,043,780 Bond premium (445,298) Amortization of bond discounts and premiums 243,013 Change in accrued interest 5,136 (3,348,369) Revenue in the statement of activities that does not provide current financial resources is not reported as revenue in the governmental funds: Current year 5,427,673 Prior year (3,674,278) Some expenses reported in the statement of activities do not require the use of current financial resources and,therefore,are not reported as expenditures in governmental funds: OPEB expense (696,723) Change in workers'compensation claims payable (88,822) Change in compensated absences and deferred compensation liabilities (271,341) Pension expense—IPERS 872,542 Pension expense—MFPRSI (3,662,662) Change in net position of governmental activities $ 6,513,659 See notes to basic financial statements. 26 Page 382 of 557 City of Waterloo, Iowa Statement of Net Position Enterprise Funds June 30, 2020 Nonmajor- Sanitary Sewer Sanitation Total Assets Current assets: Cash and cash equivalents $ 12,169,506 $ 2,799,509 $ 14,969,015 Customer accounts receivable 3,438,555 1,082,844 4,521,399 Special assessments receivable 10,255 335,391 345,646 Due from other governments: Waterloo Water Works 906,902 524,030 1,430,932 Other 2,893 16,378 19,271 Inventories 52,790 - 52,790 Total current assets 16,580,901 4,758,152 21,339,053 Noncurrent assets: Advances to other funds 27,003 11,701 38,704 Restricted cash and cash equivalents 1,107,898 129,830 1,237,728 Capital assets,net of accumulated depreciation 93,640,342 1,816,364 95,456,706 Capital assets not being depreciated 8,394,242 - 8,394,242 Net capital assets 102,034,584 1,816,364 103,850,948 Total noncurrent assets 103,169,485 1,957,895 105,127,380 Total assets 119,750,386 6,716,047 126,466,433 Deferred Outflows of Resources Pension related amounts 517,157 200,548 717,705 OPEB related amounts 185,137 154,411 339,548 Total deferred outflows of resources $ 702,294 $ 354,959 $ 1,057,253 See notes to basic financial statements. 27 Page 383 of 557 Nonmajor- Sanitary Sewer Sanitation Total Liabilities,Deferred Inflows of Resources,and Net Position Liabilities: Current: Accounts payable $ 1,774,409 $ 240,313 $ 2,014,722 Retainages payable 232,158 - 232,158 Accrued liabilities 164,750 65,944 230,694 Current maturities of general obligation and capital loans 2,217,000 - 2,217,000 Compensated absences and deferred compensation 149,734 75,249 224,983 Accrued interest 34,837 - 34,837 Total current liabilities 4,572,888 381,506 4,954,394 Noncurrent: Security deposits 287,200 129,830 417,030 General obligation bonds,net bond discount and premium 12,519,676 - 12,519,676 State revolving fund capital loan 1,835,495 - 1,835,495 Total other postemployment benefits liability 1,611,050 1,343,682 2,954,732 Compensated absences and deferred compensation 46,596 25,380 71,976 Net pension liability 2,021,249 805,415 2,826,664 Total noncurrent liabilities 18,321,266 2,304,307 20,625,573 Total liabilities 22,894,154 2,685,813 25,579,967 Deferred Inflows of Resources Pension related amounts 327,087 134,204 461,291 OPEB related amounts 18,614 15,525 34,139 Total deferred inflows of resources 345,701 149,729 495,430 Net Position Net investment in capital assets 86,040,822 1,816,364 87,857,186 Restricted for debt service 19,491 - 19,491 Unrestricted 11,152,512 2,419,100 13,571,612 Total net position $ 97,212,825 $ 4,235,464 $ 101,448,289 28 Page 384 of 557 City of Waterloo, Iowa Statement of Revenues, Expenses and Changes in Net Position Enterprise Funds Year Ended June 30, 2020 Nonmajor- Sanitary Sewer Sanitation Total Operating revenues: Charges for sales and service $ 15,832,611 $ 5,044,220 $ 20,876,831 Miscellaneous 825,200 16 825,216 Total operating revenues 16,657,811 5,044,236 21,702,047 Operating expenses: Salaries and benefits 3,994,032 1,856,950 5,850,982 Contractual services 2,668,378 1,853,512 4,521,890 Intra-city reimbursements 692,000 376,500 1,068,500 Commodities 1,146,280 553,508 1,699,788 Depreciation 3,298,497 322,975 3,621,472 Total operating expenses 11,799,187 4,963,445 16,762,632 Operating income(loss) 4,858,624 80,791 4,939,415 Nonoperating revenues(expenses): Interest income 171,296 34,208 205,504 Intergovernmental 2,005 273,857 275,862 Interest expense (516,570) - (516,570) Amortization 28,560 - 28,560 Gain on sale of capital assets 6,150 33,550 39,700 Total nonoperating revenues(expenses) (308,559) 341,615 33,056 Income prior to capital contributions 4,550,065 422,406 4,972,471 Capital contributions 356,837 - 356,837 Change in net position 4,906,902 422,406 5,329,308 Net position, beginning of year 92,305,923 3,813,058 96,118,981 Net position,end of year $ 97,212,825 $ 4,235,464 $ 101,448,289 See notes to basic financial statements. 29 Page 385 of 557 City of Waterloo, Iowa Statement of Cash Flows Enterprise Funds Year Ended June 30, 2020 Nonmajor- Sanitary Sewer Sanitation Total Cash flows from operating activities: Receipts from customers and users $ 16,294,068 $ 4,300,208 $ 20,594,276 Payments to suppliers (5,788,863) (2,459,837) (8,248,700) Payments to or on behalf of employees (3,951,851) (1,756,572) (5,708,423) Payment for interfund services used (692,000) (376,500) (1,068,500) Net cash provided by(used in) operating activities 5,861,354 (292,701) 5,568,653 Cash flows from noncapital financing activities, intergovernmental proceeds 8,108 287,531 295,639 Cash flows from capital and related financing activities: Purchase and construction of capital assets (6,600,419) (489,818) (7,090,237) Proceeds from disposal of capital assets 7,328 33,550 40,878 Proceeds from bonds and notes 4,135,492 - 4,135,492 Principal paid on debt (6,197,000) (6,197,000) Interest paid on debt (526,978) (526,978) Net cash used in capital and related financing activities (9,181,577) (456,268) (9,637,845) Cash flows from investing activities, interest received 171,296 34,208 205,504 Decrease in cash and cash equivalents (3,140,819) (427,230) (3,568,049) Cash and cash equivalents,beginning of year 16,418,223 3,356,569 19,774,792 Cash and cash equivalents,end of year $ 13,277,404 $ 2,929,339 $ 16,206,743 Reconciliation of cash and cash equivalents to statement of net position: Unrestricted cash and cash equivalents $ 12,169,506 $ 2,799,509 $ 14,969,015 Restricted cash and cash equivalents 1,107,898 129,830 1,237,728 $ 13,277,404 $ 2,929,339 $ 16,206,743 (Continued) 30 Page 386 of 557 City of Waterloo, Iowa Statement of Cash Flows (Continued) Enterprise Funds Year Ended June 30, 2020 Nonmajor- Sanitary Sewer Sanitation Total Reconciliation of operating income(loss)to net cash provided by operating activities: Operating income(loss) $ 4,858,624 $ 80,791 $ 4,939,415 Adjustments to reconcile operating income(loss)to net cash provided by operating activities: Depreciation 3,298,497 322,975 3,621,472 (Increase)in accounts receivable (286,601) (563,085) (849,686) (Increase)decrease in due from Waterloo Water Works (77,142) (180,943) (258,085) (Increase)in inventories and prepaids 129 129 Increase(decrease)in accounts payable (1,974,334) (52,817) (2,027,151) Increase in accrued liabilities 37,916 9,142 47,058 Increase in other post employment benefits liability 32,206 232,869 265,075 Increase in compensated absences and deferred compensation (4,943) 11,385 6,442 Increase in net pension liability (141,790) (152,624) (294,414) (Increase)in deferred outflows of resources (65,324) (72,539) (137,863) (Decrease)in deferred inflows of resources 184,116 72,145 256,261 Net cash provided by(used in)operating activities $ 5,861,354 $ (292,701) $ 5,568,653 Schedule of noncash capital and related financing activities: Payables for acquisition of capital assets $ 1,839,193 $ 45,261 $ 1,884,454 Capital assets contributed 356,837 - 356,837 See notes to basic financial statements. 31 Page 387 of 557 City of Waterloo, Iowa Index to the Notes to Basic Financial Statements Note Number Title Page Number 1 Nature of Operations, Reporting Entity, Basis of Presentation, 33-42 Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies 2 Cash and Investments 43 3 Leasing Activities 44 4 Loans and Notes 45 5 Interfund Activity 45-46 6 Capital Assets 47-50 7 Compensated Absences 50-51 8 Long-Term Liabilities 51-55 9 Operating Leases 56 10 Retirement Systems 56-71 11 Deficit Fund Balances 71 12 Commitments 72 13 Other Postemployment Benefits 72-75 14 Employee Health Care Plan 75-76 15 Worker's Compensation Plan 76 16 Joint Ventures and Jointly Governed Organizations 76 17 Industrial Development Revenue Bonds 77 18 Risk Management 77 19 Tax Abatements 77 20 Fund Balances 78 21 New GASB Statements and Pending Pronouncements 79-81 22 Contingencies 81 32 Page 388 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies Nature of operations: The City of Waterloo, Iowa (City) is a political subdivision of the state of Iowa located in Black Hawk County. It was incorporated in 1868 and operates under the Home Rule provisions of the Constitution of Iowa. The City operates under the Mayor-Council form of government with the full-time Mayor and seven part-time City Council members elected on a nonpartisan basis. The Mayor is elected for a two- year term. City Council members from five wards plus two at-large are elected for staggered four-year terms. The City provides numerous services to citizens including public safety, public works, health and social services, culture and recreation, community and economic development and general government services. The City also provides sanitary sewer and sanitation (garbage pickup) utilities for its citizens. Through its component unit, Waterloo Water Works, water utility services are also provided. Reporting entity: In accordance with Governmental Accounting and Financial Reporting Standards, the basic financial statements include all funds, organizations, agencies, boards, commissions, authorities and material component units and have been prepared in conformity with accounting principles generally accepted in the United States of America, as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The City has considered all potential component units for which it is financially accountable, and other organizations for which the nature and significance of their relationship with the City are such that exclusion would cause the City's financial statements to be misleading or incomplete. The GASB has set forth criteria to be considered in determining financial accountability. These criteria include appointing a voting majority of an organization's governing body, and (1)the ability of the City to impose its will on that organization or(2)the potential for the organization to provide specific benefits to, or impose specific financial burdens on, the City. These financial statements present the City of Waterloo (the primary government)and its discretely presented component units, the Waterloo Water Works and Waterloo Convention &Visitors Bureau, Inc. Complete financial statements of the Waterloo Water Works component unit can be obtained from the Waterloo Water Works administrative office, 325 Sycamore Street, Waterloo, Iowa. Complete financial statements of the Waterloo Convention &Visitors Bureau, Inc. can be obtained from their office at 500 Jefferson Street, Waterloo, Iowa. Blended component unit: The Waterloo Housing Authority(Authority) is governed by a board that includes all seven members of the City Council plus two members appointed by the Mayor, subject to approval of a majority of the City Council, for a total of nine members. Although the Authority is considered legally separate from the City, it has a financial benefit/burden relationship with the City. Due to the nature of its relationship with the City, the Authority is considered part of the primary government. The Authority is reported as a special revenue fund. 33 Page 389 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Discretely presented component units: Waterloo Water Works: The Waterloo Water Works is a component unit that is legally separate from the City, but is financially accountable to the City. The Waterloo Water Works is governed by a three-member board appointed by the City Council and its operating budget is subject to the review of the City Council. The Waterloo Water Works operates on a calendar year-end and prepares its financial statements in accordance with accounting principles generally accepted in the United States of America. Due to the different year-end, the amount reported by the Waterloo Water Works as due to the primary government and the primary government's due from the Waterloo Water Works do not agree by$209,914. Waterloo Convention & Visitors Bureau, Inc.: The Waterloo Convention &Visitors Bureau, Inc. (the Organization) is a nonprofit corporation and a component unit of the City whose purpose is to strengthen the local economy by competitively marketing the area as a destination for conventions, tour groups, sporting events and individual travelers. The Organization's operations are funded primarily by an allocation of the local hotel/motel tax from the City's local transient guest tax. By ordinance, the City allocates 50% of the tax to the Organization. The Organization is governed by a 15-member Board of Directors. Five members are appointed by the City, and the other ten are elected by other members of the Organization's Board. Although the City does not appoint the voting majority of the Organization's Board of Directors, the Organization has been determined to be fiscally dependent on the City. Basis of presentation: Government-wide financial statements:The statement of net position and the statement of activities report information on all of the activities of the City. For the most part, the effect of interfund activity has been removed from these statements. However, interfund services provided and used are not eliminated in the process of consolidation. Governmental activities, which normally are supported by tax and intergovernmental revenue, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from the legally separate Waterloo Water Works and Waterloo Convention &Visitors Bureau, Inc. component units. The statement of net position presents the City's assets and deferred outflows of resources and liabilities and deferred inflows of resources, with the difference reported as net position. The statement of activities demonstrates the degree to which the direct and indirect expenses of a given program or function are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific program or function. Program/function revenue includes: (1) charges to customers or applicants who purchase, use or directly benefit from goods, services or privileges provided by a given program/function and (2)grants, contributions and other resources that are restricted to meeting the operational or capital requirements of a particular program/function. Taxes and other items not properly included among program revenue are reported instead as general revenue. 34 Page 390 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Fund financial statements:Separate financial statements are provided for governmental and proprietary funds. The focus of fund financial statements is on major funds. Major individual governmental funds and the major enterprise fund are reported as separate columns in the fund financial statements. All remaining governmental funds are aggregated and reported as other nonmajor governmental funds. The other enterprise fund is reported in a separate column on the enterprise funds financial statements as a nonmajor fund. Description of funds:The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund balance/net position, revenue and expenditures or expenses, and other financing sources and uses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into categories as follows: Governmental Fund Types: Governmental fund types are those funds through which most governmental functions typically are financed. Governmental fund reporting focuses on the sources, uses and balances of current financial resources. Expendable assets are assigned to the various governmental funds according to the purposes for which they may or must be used; current liabilities are assigned to the fund from which they are paid; and the difference between governmental fund assets plus deferred outflows of resources and liabilities plus deferred inflows of resources, the fund equity, is referred to as "fund balance." The measurement focus is upon determination of changes in financial position, rather than upon net income determination. The following are the City's governmental fund types: General fund is used to account for and report all financial resources not accounted for and reported in another fund. Special revenue funds are used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects. Debt service funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditure for principal and interest on long-term debt. Capital projects funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets. The City had the following major governmental funds: General Fund is used to account for and report all financial resources not accounted for and reported in another fund. Trust and Agency(Employee Benefits) Special Revenue Fund is required by the Code of Iowa to account for property taxes levied for employee benefits. This fund either pays benefits as expenditures (primarily police and fire pension costs) or transfers cash to the General Fund to reimburse allowable benefits paid from that fund. 35 Page 391 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Tax Increment Financing Fund is a special revenue fund used to account for the accumulation of resources from tax increment financing projects, payment of contracted rebates and other obligations related to the projects and transfers to the GO Debt Service Fund and/or other funds to reimburse the other funds for expenditures on the projects. General Obligation Debt Service Fund is required by the Code of Iowa to account for the accumulation of resources for, and payment of, debt service on general obligation long-term debt. Road Use Tax Fund is a special revenue fund required by the Code of Iowa to account for the City's share of fuel taxes collected and allocated by the State which is restricted for local street maintenance. Proprietary Fund Type: Proprietary fund types are used to account for a government's ongoing organizations and activities which are similar to those often found in the private sector. The measurement focus is upon income determination, financial position and cash flows. Enterprise funds are used to account for operations (a) that are financed and operated in a manner similar to that of a private business enterprise where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges or(b)where the governing body has decided that periodic determination of revenue earned, expenses incurred and/or net income is appropriate for capital maintenance, public policy, management control, accountability or other purposes. The City had the following major enterprise fund: Sanitary Sewer Fund: Operates the sewage collection system and wastewater treatment plant. Fiduciary Fund Type: To account for assets held by a governmental unit in a trustee capacity or as an agent for individuals, private organizations, other governmental units and/or other funds. Agency Fund: This is an Agency Fund used to account for property taxes collected on behalf of the Metropolitan Transit Agency, Water Works kill water assessments, Grout Museum District and building permits passed through to Black Hawk County. Measurement focus and basis of accounting: The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Agency funds follow accrual basis of accounting but do not have a measurement focus as they report only assets and liabilities. Revenue is recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenue in the year for which they are levied and budgeted for. Grants and similar items are recognized as revenue at the same time the related asset is recorded. For reimbursable grants, the asset is recorded as soon as all eligibility requirements imposed by the provider have been met. 36 Page 392 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenue is recognized as soon as it is both measurable and available. Revenue is considered to be available when it is collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenue to be available if it is collected within 60 days of the end of the fiscal year. Property taxes when levied for, other taxes, charges for services, intergovernmental revenue (shared revenue, grants and reimbursements from other governments)and interest are considered to be measurable and are recognized as revenue, if available. All other revenue items are considered to be measurable and available only when cash is received by the City. Expenditures are generally recorded when a liability is incurred, as under accrual accounting. However, principal and interest on long-term debt, claims and judgments, pension benefits and compensated absences are recorded as expenditures only when payment is due and the liability has matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term debt, premiums and discounts on the issuance of long-term debt and acquisitions under capital leases are reported as other financing sources. Under terms of grant agreements, the City funds certain programs by a combination of specific cost- reimbursement grants and general revenue. It is the City's policy to first apply cost-reimbursement grant resources to such programs and then by general revenue. Proprietary funds distinguish operating revenue and expenses from nonoperating items. Operating revenue and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenue of the City's enterprise funds are charges to customers for services. Operating expenses include the costs of services and administrative expenses. All revenue and expenses not meeting this definition are reported as nonoperating revenue and expenses. Budgets and budgetary accounting: The budgetary comparison and related disclosures are reported as required supplementary information. Summary of significant accounting policies: The significant accounting policies followed by the City include the following: Cash and cash equivalents:The cash balances of most City funds are pooled and deposited into interest-bearing demand deposit accounts, certificates of deposit and Iowa Public Agency Investment Trust(IPAIT). Interest earned on investments is allocated among funds in the ratio of cash provided by the fund unless otherwise provided by law. Interest earned by the Road Use Tax Fund is allocated to the General Fund. Investments consist of nonnegotiable certificates of deposit and deposits in IPAIT money market accounts which are stated at amortized cost plus accrued interest. For purposes of the statement of cash flows, all short-term cash investments that are highly liquid (including restricted assets)are considered to be cash equivalents. Cash equivalents are readily convertible to known amounts of cash and, at the day of purchase, have a maturity date no longer than three months. 37 Page 393 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Receivables and payables: Receivables are reported net of any allowance for uncollectible accounts. As of June 30, 2020, the General Fund and the enterprise funds had allowances for uncollectible customer accounts totaling $500,939 and $328,000, respectively. Property taxes receivable are recognized on the levy or lien date, which is the date that the tax asking is certified by the City to the County Board of Supervisors. Current year delinquent property taxes receivable represent unpaid taxes from the current year. The succeeding year property taxes receivable represent taxes certified by the City to be collected in the next fiscal year for the purposes set out in the budget for the next fiscal year. By statute, the City is required to certify its budget to the County Auditor by March 15 of each year for the subsequent fiscal year. However, by statute, the tax asking and budget certification for the following fiscal year becomes effective on the first day of that year. Although the succeeding year property taxes receivable have been recorded, the related revenue is reported as a deferred inflow of resources (unavailable revenue) and will not be recognized as revenue until the year for which it is levied and budgeted for. Property tax revenue which became due and collectible in September and March of the fiscal year with a 1'/2% per month penalty for delinquent payments; was based on January 1, 2018 assessed property valuations; was for the tax accrual period July 1, 2019 through June 30, 2020; and reflected the tax asking contained in the budget certified to the County Board of Supervisors in March 2019. Special assessments are levied against certain property owners and become liens against the property benefited by the improvement. Special assessments receivable consist of current assessments which are due within one year, delinquent assessments remaining unpaid after the due date, uncollected assessments which have been levied, but are not due within one year. Customer accounts receivable consist of amounts owed from private individuals or organizations for goods and services. Loans and notes consist of amounts advanced to private individuals or organizations. Collections of principal and interest from loans and notes made from federal funds are program income of the federal program when received in cash. Due from other governments consists of grants, shared revenue and amounts collected by other governments on behalf of the City. Inventories and prepaids: Inventories are valued at cost using the first-in/first-out (FIFO) method. The cost of governmental fund-type inventories are recorded as expenditures when purchased. Inventories and prepaids recorded in the governmental fund types do not reflect current available resources; therefore, an equivalent portion of fund balance is nonspendable. Prepaids consist primarily of a deposit for insurance deductibles and premiums paid in advance, which are recorded as an expenditure or an expense when consumed. 38 Page 394 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Restricted assets:Certain assets of the governmental funds and enterprise funds are classified as restricted assets because their use is completely restricted by donors, bond indentures, contracts or grant agreements. Bond discounts,premiums and issuance costs: In the government-wide financial statements and proprietary fund types in the fund financial statements, bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bond issuance costs are reported as an expense in the year the costs are incurred. In the fund financial statements, governmental fund types recognize bond premiums and discounts during the current period. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Bond issuance costs are reported as an expenditure in the year the costs are incurred. Capital assets:Capital assets are reported in the applicable governmental or business-type activities columns in the government-wide statement of net position and in the fund financial statements for proprietary funds. Capital assets are recorded at historical cost. Donated capital assets are recorded at estimated acquisition value at the date of donation. The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend asset useful lives are not capitalized. Capital assets, other than infrastructure, are defined by the City as assets with an initial, individual cost in excess of$5,000 and estimated useful lives in excess of one year. Infrastructure is defined by the City as assets available for public use, other than buildings, and having a cost of$50,000 or more. Depreciation is computed using the straight-line method over the estimated useful life of the asset. Estimated useful lives are as follows: Years Governmental activities: Buildings and improvements 10-40 Infrastructure 15-100 Furniture and equipment 3-20 Vehicles,machinery and equipment 3-25 Software 5 Assets under capital lease 10-15 Business-type activities: Buildings 15-50 Improvements other than buildings 50 Furniture and equipment 5-20 Vehicles,machinery and equipment 5-10 Software 5 Discretely presented component units: Buildings and improvements 8-40 Water supply and distribution systems 10-99 Meters and equipment 5-63 Machinery and equipment 5-26 Leasehold improvements 5-39 39 Page 395 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) The City's collection of works of art, library books and other similar assets are not capitalized. These collections are unencumbered, held for public exhibition and education, protected, cared for and preserved and subject to City policy that requires proceeds from the sale of these items to be used to acquire other collection items. Deferred outflows of resources: In addition to assets, the statement of net position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The City has two items that qualify for reporting in this category. The second item is pension and OPEB related deferred outflows of resources, which consists of unrecognized items not yet charged to pension and OPEB expense and pension contributions from the City after the measurement date but before the end of the City's reporting period. Deferred inflows of resources: In addition to liabilities, the statement of net position and balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The governmental funds report unavailable revenues from four sources: property taxes, local option sales taxes, special assessments and intergovernmental revenue. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. In the City's government-wide statements, the property tax revenues are reported as a deferred inflow of resources and will become an inflow in the year for which they are levied and budgeted for. The City's government-wide and enterprise fund statements also include unrecognized pension and OPEB related amounts as deferred inflows. Pensions:The net pension liability, deferred inflows and outflows of resources related to pensions, pension expense, information about the fiduciary net position of the Iowa Public Employees' Retirement System (IPERS)and the Municipal Fire and Police Retirement System of Iowa (MFPRSI) and additions to/deductions from IPERS' and MFPRSI's fiduciary net position have been determined on the same basis as they are reported by IPERS and MFPRSI. For this purpose, benefit payments (including refunds of employee contributions)are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Total OPEB liability: For purposes of measuring the total other postemployment benefit (OPEB) liability, deferred inflows of resources related to OPEB and OPEB expense, information has been based on an actuary report. For that purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. The total of OPEB liability attributable to governmental activities will be paid primarily by the General Fund. Interfund transactions:Transactions among City funds that would be treated as revenues and expenditures or expenses if they involved organizations external to City government are accounted for as revenues and expenditures or expenses in the funds involved. 40 Page 396 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Transactions which constitute reimbursements to a fund for expenditures initially made from it which are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the reimbursed fund. Transactions, which constitute the transfer of resources from a fund receiving revenues to a fund through which the revenues are to be expended, are separately reported in the respective fund's operating statements. Activity between funds that are representative of lending/borrowing arrangements at the end of the fiscal year are referred to as "due to/from other funds" in the fund financial statements. Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as "internal balances." Noncurrent portions of long-term interfund loan receivables and payables are reported as advances within the governmental and enterprise funds. Compensated absences: City ordinances and labor contracts with the City call for the accumulation of vacation, compensatory time and sick leave for subsequent use or for payment upon termination or retirement. During 2001, the City began offering an early sick leave payout option for certain employees. Qualifying employees can elect to receive 60% of the time in their frozen sick leave bank over a five-year period prior to their retirement or termination of employment. Vacation and compensatory time are accrued when incurred in the government-wide and the proprietary funds statements and reported as a liability. Matured compensated absences, for example, as a result of employee retirements and resignations, are considered due and expected to be liquidated with expendable available financial resources and are reported as an expenditure and a fund liability of the respective governmental fund. Governmental fund liabilities for unmatured compensated absences are not reported in the fund financial statements. Long-term liabilities: In the government-wide financial statements and the proprietary fund financial statements, long-term debt and other long-term obligations are reported as liabilities. In the governmental fund financial statements, the face amount of long-term debt issued is reported as an other financing source. Fund balance: In the governmental fund financial statements, fund balances are classified as follows: Nonspendable: Amounts which cannot be spent either because they are in a nonspendable form or because they are legally or contractually required to be maintained intact. Restricted: Amounts restricted to specific purposes when constraints placed on the use of the resources are either externally imposed by creditors, grantors or state or federal laws or imposed by law through constitutional provisions or enabling legislation. Committed: Amounts which can be used only for specific purposes pursuant to constraints formally imposed by the City Council through resolution approved prior to year-end. Those committed amounts cannot be used for any other purpose unless the City Council removes or changes the specified use by taking the same action it employed to commit those amounts. 41 Page 397 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 1. Nature of Operations, Reporting Entity, Basis of Presentation, Measurement Focus and Basis of Accounting and Summary of Significant Accounting Policies (Continued) Assigned: Amounts constrained by the City's intent to use them for a specific purpose. The authority to assign fund balance has been delegated by the City Council to the Chief Financial Officer in accordance with the City's Fund Balance and Reserve Policy. Unassigned: All amounts not included in other spendable classifications. The General Fund is the only fund that would report a positive amount in unassigned fund balance. Residual deficit amounts of other governmental funds would also be reported as unassigned. When an expenditure is incurred in governmental funds which can be paid using either restricted or unrestricted resources, the City's policy is to pay the expenditure from restricted fund balance and then from less-restrictive classifications—committed, assigned and then unassigned fund balances. Net position: Net position represents the difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources. Amounts reported as net investment in capital assets consist of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowings used for the acquisition, construction or improvement of those assets. Net investment in capital assets excludes unspent debt proceeds. Unspent debt proceeds for the various capital project GO Bonds Funds are$27,415,243 and the Sanitary Sewer enterprise fund is $578,409. Net position is reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the City or through external restrictions imposed by creditors, grantors or laws or regulations of other governments. The government-wide statement of net position reports $44,923,907 of restricted net position for governmental activities of which $4,870,660 is restricted by enabling legislation for debt service, library, tourism promotion and public access television. The City applies restricted resources when an expense is incurred for purposes for which both restricted and unrestricted net position are available. Indirect allocations: Operating funds, departments and activities receive services from supporting funds, departments and activities. Annually, management estimates the value of those services and records applicable indirect allocations. Activities related to federal grant programs have not been included in the indirect cost calculations, but are reported within the function the grant serves. Estimates and assumptions:The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. 42 Page 398 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 2. Cash and Investments Interest rate risk: The City's policy allows the operating funds to be invested in instruments authorized by the City's investment policy that mature within 397 days and funds not identified as operating funds to be invested with maturities longer than 397 days. However, all investments of the City shall have maturities that are consistent with the liquidity needs of the City. As of June 30, 2020, the City had investments in the Iowa Public Agency Investment Trust(IPAIT)which were valued at an amortized cost of$24,891,011 pursuant to GASB Statement No. 79. IPAIT is registered with the Securities and Exchange Commission. The City's investment in IPAIT is not subject to interest rate risk. The discretely presented Waterloo Water Works component unit's certificates of deposit are restricted to comply with debt covenants and to secure customer deposits. Credit risk: In accordance with the City's investment policy, the City may invest in interest bearing savings accounts, interest bearing money market accounts, and interest bearing checking accounts at any bank, savings and loan associations or credit union in the state of Iowa, obligations of the United States government, its agencies and instrumentalities, certificates of deposit and other evidences of deposit at federally insured Iowa depository institutions, IPAIT, prime bankers' acceptances that mature within 270 days of purchase and are eligible for purchase by a Federal Reserve Bank, commercial paper or other short-term corporate debt that matures within 270 days of purchase and is rated within the two highest classifications, as established by at least one of the standard rating services, repurchase agreements, open-end management investment company organized in trust form, registered with Securities & Exchanges Commission. The policy does not allow the City to invest in reverse repurchase agreements and futures and options contracts. The investment in the Iowa Public Agency Investment Trust is rated AAAm by Standard & Poors. Concentration of credit risk: The City's investment policy is to diversify its investment portfolio to eliminate the risk of loss resulting from overconcentration of assets in a specific maturity, a specific issuer or a specific class of securities. Accordingly, the policy limits the City from investing in prime bankers' acceptances or commercial paper of more than 10% of the investment portfolio and more than 5% of the investment portfolio with a single issuer at the time of purchase. In addition, no more than 5% of all amounts invested in commercial paper and other short-term corporate debt shall be invested in paper and debt rated in the second highest classification at the time of purchase. As of June 30, 2020, the City's investments were not subject to concentration of credit risk. Custodial credit risk: For deposits, this is the risk that in the event of bank failure, the City's deposits may not be returned to it. For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The City and Waterloo Water Works' deposits as of June 30, 2020 were entirely covered by federal depository insurance, National Credit Union insurance or by the State Sinking Fund in accordance with Chapter 12C of the Code of Iowa. This chapter provides for additional assessments against the depositories to ensure that there will be no loss of public funds. In addition, the City had no investments subject to custodial credit risk since the City does not hold the underlying investments. 43 Page 399 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 3. Leasing Activities Airport: The Waterloo Municipal Airport has entered into various operating leases with airlines, fixed base operators, auto lease companies, the airport hangar tenants, as well as farm airport land. These agreements range from month-to-month leases to longer-term leases with various specified terms. Some of these lease agreements contain cancellable conditions which eliminate any future guaranteed rentals or are contingent upon income produced by the lessee. The following is a schedule by years of the future minimum lease rentals to be received under these leases as of June 30: During the years ending June 30: 2021 $ 475,539 2022 328,579 2023 54,969 2024 54,969 2025 8,756 2026-2030 4,375 Total future minimum lease rentals to be received $ 927,187 Board of Regents, State of Iowa: The City has entered into a lease agreement with the Board of Regents, State of Iowa, for the former Chicago Great Western Depot building. The term of the lease is from August 21, 2001 through August 20, 2021 at a rate of$6,035 per month. The following is a schedule by years of the future minimum lease rentals to be received under the lease as of June 30: During the years ending June 30: 2021 $ 72,421 2022 12,070 Total future minimum lease rentals to be received $ 84,491 Waterloo Hotel Equities, LLC d/b/a Ramada Waterloo Civic and Convention Center: The lease with Waterloo Hotel Equities, LLC d/b/a Ramada Waterloo Civic and Convention Center expired December 31, 2019. The City contracted with Global Spectrum, L.P. d/b/a Spectra Venue Management, effective January 15, 2020 for management of the Convention Center operations. The initial term of the agreement expires June 30, 2025 and includes an optional extension period of five additional years and may be terminated with 90 days advance written notice if net operating income benchmarks (set annually) are not met in each of two consecutive operating years or by either party with thirty days written notice for failure to comply with the agreement. The agreement requires the city to pay Global Spectrum, L.P. a fixed management fee of$10,000 per month through June 30, 2025. In addition to the fixed fees, Global Spectrum, L.P. is eligible for qualitative and quantitative incentive fees based on performance. Global Spectrum, L.P. agreed to contribute$350,000 to be used for transition expenses, improvements or equipment at the Facility designed to increase Revenue. If the agreement is terminated prior to January 15, 2030, a portion of the contribution must be repaid to Global Spectrum, L.P. 44 Page 400 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 4. Loans and Notes Community Development Block Grant(CDBG) Loans: Low-income housing loans: The City has provided seven loans for low-income housing projects, five of which have a below-market interest rate. All have minimal payments required each year until maturity. Maturities range from September 2019 to August 2031. The balance of the five loans at June 30, 2020 was $1,334,196. Maturities range from September 2019 to August 2031. Cash received is program income and considered to be charges for services. Given the nature and collection history of the loans, the City has determined these amounts are uncollectible and has recorded an allowance for the full amount of the loans. Forgivable loans: The City, through its CDBG, HOME program, Economic Development Initiative program, Lead Paint Removal grant, federal and state Jumpstart funds and Iowans Helping Iowans funds, provides forgivable rehabilitation loans to low-income households. The loans are forgiven on a sliding scale over a five-year period, provided the home is not sold or abandoned. If the home is sold or abandoned, the City's lien against the property prevents a clear title transfer unless the unforgiven portion of the note is satisfied. As of June 30, 2020, the City had made 1,747 such loans totaling $34,888,354. The loan balances are considered forgivable and/or uncollectible by the City given the nature and terms of the loans and therefore, have not been recorded as assets on the balance sheet. Note 5. Interfund Activity The composition of interfund receivables and payables balances as of June 30, 2020 was as follows: Due From Due To Major governmental funds: General $ 4,781,167 $ - Taxincrementfinancing - 1,585,870 Nonmajor governmental funds - 3,195,297 $ 4,781,167 $ 4,781,167 Advances to and from other funds as of June 30, 2020, were as follows: Advances To Advances From Major governmental funds: General $ - $ 168,316 Road Use Tax 108,189 - Nonmajor governmental funds 21,423 - Major Enterprise Fund, sanitary sewer 27,003 - Nonmajor Enterprise Fund, sanitation 11,701 - $ 168,316 $ 168,316 45 Page 401 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 5. Interfund Activity(Continued) Interfund balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2)transactions are recorded in the accounting system and (3) payments between funds are made. The interfund receivables and payables are scheduled to be collected in the subsequent year whereas the interfund advances are not. Due to/from primary government and component units: Due to governmental funds: Road use tax $ 22,519 Aggregate nonmajor 55,328 Due from Water Works 77,847 Due to enterprise funds: Sanitary sewer 906,902 Sanitation 524,030 Due from Waterloo Water Works 1,430,932 Total due from Water Works 1,508,779 Waterloo Water Works—due to primary government 1,298,865 Difference $ 209,914 The difference in the above amounts of$209,914 results from the different year ends of the entities as described in Note 1. Due to Waterloo Convention &Visitors Bureau, Inc. from General Fund $ 111,203 The following is a schedule of transfers as included in the basic financial statements of the City: Transfers In Transfers Out Major governmental funds: General $ 7,462,766 $ 185,750 Trust and agency - 7,171,187 Tax increment financing 185,754 7,324,826 General obligation debt service 2,982,999 - Nonmajor governmental funds 4,266,272 216,028 $ 14,897,791 $ 14,897,791 Transfers are used to move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them. 46 Page 402 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 6. Capital Assets Capital asset activity for the year ended June 30, 2020 was as follows: Beginning Ending Balance Balance June 30,2019 Additions Deletions Transfers June 30,2020 Governmental Activities Capital assets,not being depreciated: Land $ 44,849,615 $ 1,240,793 $ 8,916 $ $ 46,081,492 Land held for redevelopment 14,491,090 2,214,620 65,294 16,640,416 Construction-in-progress 23,465,580 25,360,246 - (32,821,062) 16,004,764 Total capital assets,not being depreciated 82,806,285 28,815,659 74,210 (32,821,062) 78,726,672 Capital assets,being depreciated: Buildings and improvements 132,604,110 314,162 74,947 4,565,805 137,409,130 Infrastructure 390,604,114 1,466,925 - 28,116,501 420,187,540 Vehicles,machinery,furniture and equipment 32,614,073 2,441,462 1,283,974 138,756 33,910,317 Software 817,293 - - - 817,293 Total capital assets,being depreciated 556,639,590 4,222,549 1,358,921 32,821,062 592,324,280 Less accumulated depreciation for: Buildings and improvements 70,691,346 3,653,761 44,967 - 74,300,140 Infrastructure 165,411,836 9,465,575 - 174,877,411 Vehicles,machinery,furniture and equipment 23,663,013 1,968,257 1,251,986 24,379,284 Software 727,281 39,405 - 766,686 Total accumulated depreciation 260,493,476 15,126,998 1,296,953 274,323,521 Total capital assets,being depreciated,net 296,146,114 (10,904,449) 61,968 32,821,062 318,000,759 Governmental activities capital assets,net $ 378,952,399 $ 17,911,210 $ 136,178 $ $ 396,727,431 47 Page 403 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 6. Capital Assets (Continued) Beginning Ending Balance Balance June 30,2019 Additions Deletions Transfers June 30,2020 Business-Type Activities Capital assets,not being depreciated: Land $ 657,900 $ - $ - $ - $ 657,900 Construction-in-progress 5,813,299 8,001,661 1,178 (6,077,440) 7,736,342 Total capital assets,not being depreciated 6,471,199 8,001,661 1,178 (6,077,440) 8,394,242 Capital assets,being depreciated: Buildings 71,692,852 6,485 - - 71,699,337 Improvements other than buildings 63,248,436 208,547 - 5,230,209 68,687,192 Vehicles,machinery,furniture and equipment 12,650,363 854,432 526,610 847,231 13,825,416 Total capital assets, being depreciated 147,591,651 1,069,464 526,610 6,077,440 154,211,945 Less accumulated depreciation for: Buildings 27,636,255 1,434,577 - - 29,070,832 Improvements other than buildings 19,512,953 1,264,969 - 20,777,922 Vehicles,machinery,furniture and equipment 8,511,169 921,926 526,610 8,906,485 Total accumulated depreciation 55,660,377 3,621,472 526,610 58,755,239 Total capital assets,being depreciated,net 91,931,274 (2,552,008) - 6,077,440 95,456,706 Business-type activities capital assets,net $ 98,402,473 $ 5,449,653 $ 1,178 $ - $ 103,850,948 48 Page 404 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 6. Capital Assets (Continued) Beginning Ending Balance Balance December 31, December 31, Discretely Presented Component Unit- 2019 Additions Deletions 2020 Waterloo Water Works Capital Assets Capital assets,not being depreciated: Land $ 472,362 $ - $ - $ 472,362 Construction-in-progress 3,920,599 2,672,317 (2,625,666) 3,967,250 Total capital assets,not being depreciated 4,392,961 2,672,317 (2,625,666) 4,439,612 Capital assets,being depreciated: Buildings and improvements 1,787,314 12,223 1,799,537 Water supply and distribution systems 32,679,790 2,619,666 35,299,456 Meters and equipment 1,173,594 5,666 1,179,260 Machinery and equipment 3,877,523 90,356 (40,426) 3,927,453 Total capital assets,being depreciated 39,518,221 2,727,911 (40,426) 42,205,706 Less accumulated depreciation for: Buildings and improvements 899,789 27,193 926,982 Water supply and distribution systems 9,507,496 609,100 10,116,596 Meters and equipment 786,818 17,458 804,276 Machinery and equipment 2,063,948 251,556 (38,719) 2,276,785 Total accumulated depreciation 13,258,051 905,307 (38,719) 14,124,639 Total capital assets,being depreciated,net 26,260,170 1,822,604 (1,707) 28,081,067 Net discretely presented component unit—Waterloo Water Works capital assets,net $ 30,653,131 $ 4,494,921 $ (2,627,373) $ 32,520,679 Beginning Ending Balance Balance Discretely Presented Component Unit- June 30,2019 Additions Deletions June 30,2020 Waterloo Convention&Visitors Bureau,Inc. Capital assets,being depreciated: Equipment $ 103,202 $ 26,902 $ $ 130,104 Leasehold improvements 125,924 - 125,924 Total capital assets,being depreciated 229,126 26,902 256,028 Less accumulated depreciation 192,122 15,684 207,806 Total capital assets,being depreciated,net $ 37,004 $ 11,218 $ $ 48,222 49 Page 405 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 6. Capital Assets (Continued) Depreciation expense was charged by the City as follows for the year ended June 30, 2020: Governmental activities: Public safety $ 843,072 Public works 12,020,897 Culture and recreation 2,009,310 Community and economic development 127,793 General government 125,926 Total governmental activities 15,126,998 Business-type activities: Sanitary sewer 3,298,497 Sanitation 322,975 Total business-type activities 3,621,472 Total primary government $ 18,748,470 Component unit—Waterloo Water Works $ 905,307 Component unit—Waterloo Convention &Visitors Bureau, Inc. $ 15,684 Note 7. Compensated Absences City employees accumulate vacation and sick leave hours for subsequent use or for payment upon termination or retirement. A calendar year is primarily used for the calculation of vacation pay benefits while sick leave utilizes the City's fiscal year. Vacation days for most bargaining unit employees must be taken or paid during the calendar year with limited exceptions. Nonbargaining unit employees may carry forward up to 10 days' vacation with proper approval. Upon termination, employees receive payment for unused vacation plus a payment for vacation hours accrued from January through the termination date. As of June 30, 2020, there was $3,496,987 accrued for vacation. Prior to July 1, 1984, sick leave was allowed to accumulate to a maximum of 240 days, except for police and fire personnel who could accumulate a maximum of 260 days. Any unused days as of July 1, 1984 were accumulated into a frozen sick leave bank. The days frozen in the bank are paid upon use, termination or retirement (except for library employees who will only be paid upon use). If paid upon retirement, the amount due to employees is computed as the amount equal to 60% of the total accumulated hours times the employee's current pay rate paid to employees. Retirees have the option of receiving the payout immediately or receiving it as an annuity over 60 months. Active employees could elect to receive a payout of 60% of their frozen sick dollars beginning in July 2001. As of June 30, 2020, there was $66,553 accrued for the frozen sick leave bank. After July 1, 1984, sick leave is allowed to accumulate up to 12 days per year. At the end of the year, 25% of any unused sick leave is rolled over to the employee's casual leave bank and the balance of 75% of the unused sick leave is added to the employee's sick leave storage bank for future use. The days accumulated in the bank after July 1, 1984 are not payable upon termination or retirement. Certain Fire Department employees are eligible to roll 75% of their unused sick leave, with the balance added to their sick leave storage bank. 50 Page 406 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 7. Compensated Absences (Continued) Certain employees can elect either to be paid overtime compensation or to accrue the hours as compensatory time, defined as additional time off from regular hours. Employees are required to be paid for these services upon termination of employment. Maximum hours eligible to be used later as compensatory time are limited by law and labor contracts. Governmental funds do not recognize these accumulations as expenditures until paid. As of June 30, 2020, there was $1,662,432 accrued for unused compensatory time, which includes unused sick leave and frozen sick leave bank. Employees are also eligible to receive pay-outs of a portion of unused casual leave. The accrued casual pay is reported as compensated absences in the applicable fund which includes $108,361 in governmental funds, as the liabilities are considered matured and are expected to be liquidated with expendable available financial resources. Frozen sick leave, vacation pay and compensatory time liabilities are accrued when incurred in the government-wide and proprietary fund statements and reported as a liability. Note 8. Long-Term Liabilities The following is a summary of the changes in long-term liabilities for the year ended June 30, 2020: Due Within June 30,2019 Additions Reductions June 30,2020 One Year Governmental activities: General obligation bonds $ 81,785,000 $ 17,675,000 $ 13,480,000 $ 85,980,000 $ 8,573,000 Loans and notes(direct borrowing) 6,905,932 - 1,043,780 5,862,152 1,062,752 Compensated absences 4,688,390 3,772,322 3,490,481 4,970,231 2,854,154 Total OPEB liability 17,575,071 1,501,796 - 19,076,867 - Net pension liability—IPERS 12,104,732 - 669,542 11,435,190 Net pension liability—MFPRSI 33,343,863 3,270,909 - 36,614,772 - Subtotal 156,402,988 26,220,027 18,683,803 163,939,212 12,489,906 Unamortized discounts (186,544) - (14,165) (172,379) - Bond premium 1,281,051 445,298 257,178 1,469,171 - Total long-term liabilities,governmental activities $ 157,497,495 $ 26,665,325 $ 18,926,816 $ 165,236,004 $ 12,489,906 Business-type activities: General obligation bonds $ 16,390,000 $ 3,980,000 $ 6,005,000 $ 14,365,000 $ 2,022,000 State revolving fund capital loans(direct borrowing) 2,091,522 130,973 192,000 2,030,495 195,000 Compensated absences 290,517 409,807 403,365 296,959 224,983 Total OPEB liability 2,689,657 265,075 - 2,954,732 - Net pension liability—IPERS 3,121,078 - 294,414 2,826,664 - Subtotal 24,582,774 4,785,855 6,894,779 22,473,850 2,441,983 Unamortized discounts (64,470) - (2,840) (61,630) - Bond premium 245,186 24,520 31,400 238,306 - Total long-term liabilities, business- type activities $ 24,763,490 $ 4,810,375 $ 6,923,339 $ 22,650,526 $ 2,441,983 Compensated absences and net pension and OPEB liabilities attributable to governmental activities are generally liquidated by the General Fund. 51 Page 407 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 8. Long-Term Liabilities (Continued) General obligation bonds and notes are direct obligations and pledge the full faith and credit of the City. Revenue bonds are the obligations of the Sanitary Sewer Enterprise Fund and are generally payable solely from the revenue of the Sanitary Sewer Enterprise Fund. Bonds generally issued for the purpose of financing the acquisition and construction of major capital facilities or infrastructure. Debt indentures require that certain covenants relating to the maintenance and efficiency of the operating system, the rate structure, restrictions on borrowings, leasing or disposition of assets and minimum insurance coverage be adhered to. These covenants are: (a)the interest on the tax-exempt bonds are to be excludable from gross income for federal income tax purposes, (b)the annual report must be submitted within 270 days after year-end, and (c)the City must give notice of significant events including those events causing delinquency of payment, bond calls, defeasances of bonds, or rating changes of bonds no later than ten business days after the event. On October 22, 2019, the City issued $2,770,000 in refunding tax-exempt bonds, General Obligation Bonds, Series 2019C, maturing June 1, 2020 through June 1, 2026 with an interest rate of 2.00°/x. This issue refunded the balance outstanding of$2,715,000 of the series 2011A bonds. Total debt service requirements were reduced by$191,698 or$2.057%, which resulted in an economic gain of$182,334, or 6.582%. On October 22, 2019, the City issued $3,625,000 in refunding taxable bonds, General Obligation Bonds, Series 2019D maturing June 1, 2020 through June 1, 2026 with interest rates ranging from 1.95 percent to 2.00 percent. This issue refunded the balance outstanding of$3,515,000 of the series 2011 B bonds ($1,185,000 for governmental activities and $2,330,000 for sewer uses). Total debt services requirements for this issue were reduced by$267,201 or 2.338%, which resulted in an economic gain of$250,645 or 6.194%. On June 29, 2020, the City issued $7,025,000 in tax-exempt bonds, General Obligation Bonds, Series 2020A maturing June 1, 2021 through June 1, 2035 with an interest rate of 2.00 percent. The purpose of the issuance is to finance various essential and general corporate purpose capital improvements, equipment and vehicle acquisitions and urban renewal projects of the City. On June 29, 2020, the City issued $8,235,000 in refunding taxable bonds, General Obligation Bonds, Series 2020B maturing June 1, 2021 through June 1, 2032 with interest rates ranging from 1.25 percent to 1.90 percent. This issue will be used to finance the cost of various capital improvements and urban renewal projects and to refund the balance outstanding of$2,225,000 of the series 2012C bonds. Total debt services requirements for this issue were reduced by$166,646 or 1.266%, which resulted in an economic gain of$159,156 or 7.137% 52 Page 408 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 8. Long-Term Liabilities (Continued) The City's outstanding general obligation long-term debt is as follows: Outstanding Issue Date Purpose Interest Rates June 30,2020 Publicly issued long-term debt: June 2012 Tax-exempt—capital improvements/general 2.00-2.30 $ 3,325,000 June 2013 Tax-exempt—capital improvements/general 2.00-3.70 3,315,000 June 2013 Taxable 2.00-3.70 3,995,000 June 2013 Refunding 0.50-2.50 190,000 June 2014 Tax-exempt—capital improvements/general 2.00-3.12 4,680,000 June 2014 Taxable 1.00-4.00 3,460,000 June 2014 Refunding 2.00 1,140,000 June 2015 Tax-exempt—capital improvements/general 3.00-3.50 8,660,000 June 2015 Taxable 1.50-4.00 1,090,000 June 2016 Tax-exempt—capital improvements/general 2.00-2.25 5,760,000 June 2016 Taxable 0.80-3.10 1,395,000 June 2016 Taxable 0.90-3.40 7,835,000 June 2017 Tax-exempt—capital improvements/general 3.00 6,565,000 June 2017 Taxable 1.35-3.35 2,970,000 June 2017 Taxable—urban renewal 2.75-3.50 7,075,000 June 2018 Tax-exempt—capital improvements/general 3.00 8,125,000 June 2018 Taxable 2.50-3.50 880,000 June 2019 Tax-exempt—capital improvements/general 3.00 6,230,000 June 2019 Taxable 2.73 2,925,000 October 2019 Refunding 2.00 2,350,000 October 2019 Taxable refunding 1.96 3,120,000 June 2020 Tax-exempt—capital improvements/general 2.00 7,025,000 June 2020 Taxable 1.52 8,235,000 $ 100,345,000 53 Page 409 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 8. Long-Term Liabilities (Continued) Annual debt service on general obligation and revenue bonds as of June 30, 2020 are as follows: GO Debt Service General Obligation Bonds Principal Interest Years ending June 30: 2021 $ 8,573,000 $ 2,236,472 2022 8,045,000 2,049,550 2023 7,628,000 1,856,461 2024 7,465,000 1,669,026 2025 7,433,000 1,481,185 2026-2030 34,921,000 4,388,742 2031-2035 10,955,000 923,165 2036 960,000 27,607 $ 85,980,000 $ 14,632,208 Sanitary Sewer Enterprise General Obligation Bonds Principal Interest Years ending June 30: 2021 $ 2,022,000 $ 377,653 2022 1,965,000 329,700 2023 1,932,000 282,002 2024 1,890,000 234,175 2025 1,812,000 186,140 2026-2030 4,589,000 376,081 2031-2032 155,000 7,050 $ 14,365,000 $ 1,792,801 Loans and notes: The City has entered into development agreements including rebates of property taxes paid by other parties to the agreements. Most agreements include a set percentage of taxes paid for a specified number of years. The following agreements require a guaranteed amount of principal plus interest to be paid to the developer. As of June 30, 2020, the outstanding balance of these loans was $5,862,152. • Deer Creek Development, LLC, original loan amount of$1,896,017 plus interest at 7% through March 31, 2011 then at 4.75%, compounded semiannually. In fiscal year 2014, there were additions to the agreement of$6,130. Payable at$300,000 in fiscal year 2011 and semiannual payments of $100,000 are due beginning November 2011 until principal plus interest have been paid. The loan balance was $1,116,528 at June 30, 2020. • North Crossing Development, LLC, original loan amount of$7,000,000 plus interest at 1.81% through September 1, 2025. Payable in annual payments of$1,000,000 are due beginning August 29, 2019 until principal plus interest have been paid. The loan balance was $4,745,624 at June 30, 2020. 54 Page 410 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 8. Long-Term Liabilities (Continued) Other loans and notes: Other governmental activity loans and notes mature as follows: Governmental Activities Principal Interest Years ending June 30: 2021 $ 1,062,752 $ 136,759 2022 1,086,895 113,105 2023 1,111,187 88,813 2024 1,136,139 63,861 2025 1,161,773 38,226 2026 303,406 11,887 $ 5,862,152 $ 452,651 State revolving fund capital notes: During fiscal years 2018 and 2019, the City entered into two agreements with the Iowa Finance Authority for Clean Water Revolving Loans with an approved loan amount totaling $3,677,000. As of June 30, 2020, the notes had an outstanding balance of$2,030,495. The notes bear interest at 2.0%, with annual principal and interest payments through 2044. These notes mature as follows: Business-type activities Principal Interest Years ending June 30: 2021 $ 195,000 $ 36,904 2022 198,000 33,175 2023 203,000 29,388 2024 207,000 25,505 2025 192,495 21,578 2026-2030 402,000 76,790 2031-2035 443,000 40,180 2036-2037 190,000 5,005 $ 2,030,495 $ 268,525 Discretely presented component unit: Balance Balance Due Within December 31,2019 Additions Deletions December 31,2020 One Year Compensated absences $ 71,547 $ 60,883 $ 71,547 $ 60,883 $ 60,883 55 Page 411 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 9. Operating Leases Effective July 1, 1999, the City's sanitary sewer operations entered into a five-year agreement for the management of biosolid by-products produced at the Wastewater Treatment Facility. The agreement included the lease of a storage facility. This lease was extended on October 14, 2019 for another five- year period, at a monthly rental of$4,900. Rental expense for all material operating leases was $186,100 for the year ended June 30, 2020. Cedar Valley SportsPlex: The Cedar Valley SportsPlex, a 125,000 square foot recreational facility that includes indoor soccer fields, gyms, a leisure pool, fitness facility, running track and multi-purpose activity spaces, opened in January 2014. The facility is a joint project of the City and the Waterloo Development Corporation. The Waterloo Development Corporation raised the funds, through a combination of private donations and grants from the Black Hawk County Gaming Association, to construct the $23 million facility. The City acquired the property where the facility is located and signed a lease purchase agreement to operate the facility for$100 per year. The lease purchase agreement gave the City the option to take ownership of the facility at the end of the lease term or to cease operating the facility at that time. In August 2014, the lease agreement was amended to remove that option, so the property will automatically transfer to the City at the end of the lease term. The Waterloo Development Corporation signed an agreement with the City which guarantees that the fundraising for construction will be completed. Because there was an automatic transfer of the assets at the end of the term of the agreement, and that future lease payments to the Waterloo Development Corporation are nominal, the City has no capital contribution to report for the year ended June 30, 2020, and no capital lease liability as of June 30, 2020. The Leisure Services department of the General Fund is operating the facility with the intent for it to be self-supporting. Note 10. Retirement Systems The City contributes to two employee retirement systems, the Iowa Public Employees Retirement System (IPERS) and the Municipal Fire and Police Retirement System of Iowa (MFPRSI). IPERS is administered by the State of Iowa. MFPRSI is governed by a nine-member Board of Trustees. Though separate and apart from state government, the Board is authorized by the state legislature, which also establishes by statue the pension and disability benefits and the System's funding mechanism. All full-time employees must participate in either IPERS or MFPRSI. Below is a summary of amounts reported by the City as of and for the year ended June 30, 2020: IPERS MFPRSI Total Net pension liability $ 14,261,854 $ 36,614,772 $ 50,876,626 Deferred outflow of resources 3,592,481 9,393,683 12,986,164 Deferred inflow of resources 2,257,029 623,545 2,880,574 Pension expense 908,776 3,051,028 3,959,804 Iowa Public Employees' Retirement System: Plan description: Employees of the City are provided with pensions through the Iowa Public Employees Retirement System (IPERS)—a cost-sharing multiple-employer defined benefit pension plan administered by the State of Iowa. IPERS provides retirement and death benefits which are established by State statute to plan members and beneficiaries. IPERS issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained by writing to IPERS, P.O. Box 9117, Des Moines, Iowa, 50306-9117. 56 Page 412 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Benefits provided: IPERS provides retirement, disability and death benefits. Retirement benefits are determined based on the employee's highest five-year average salary and a multiplier based on the years of service. Employees are eligible for full retirement age 65; at age 62 with at least 20 years of covered employment or when the years of service plus the employee's age equals or exceeds 88. Four years of service is required for nonservice-related disability eligibility. Disability benefits are determined in the same manner as retirement benefits but are payable immediately without an actuarial reduction. Death benefits are calculated based on the actuarial present value of the employee's accrued benefit at the time of death or a calculation based on the employee's contributions, highest covered annual wage and years of service. Contributions: Per Iowa Code Section 97B.4(4)(d)the required contribution rate is determined by the IPERS actuary as the rate necessary to fully fund the benefits as defined by Iowa Code Chapter 97B. Employees are required to contribute 5.95% of their annual pay. The City contractually required contribution rate for the year ended June 30, 2020, was 9.44% of annual payroll, actuarially determined as an amount that, when combined with employee contributions, is expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Contributions to the pension plan from the City were $1,769,401 for the year ended June 30, 2020. Pension liabilities, pension expense, and deferred inflow and outflows of resources related to pensions: At June 30, 2020, the City reported a liability of$14,261,854 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City's proportion of the net pension liability was based on a projection of the City's long-term share of contributions to the pension plan relative to the projected contributions of all participating governments, actuarially determined. At June 30, 2020, the City's proportion was 0.2462907%, an increase of 0.005690% from the City's proportion at June 30, 2019. For the year ended June 30, 2020, the City recognized pension expense of$908,776. At June 30, 2020, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences between expected and actual experience $ 39,538 $ (512,782) Changes of assumptions 1,527,649 Net difference between projected and actual earnings on pension plan investments - (1,607,139) Changes in proportion and differences between City contributions and proportionate share of contributions 251,872 (137,108) Total deferred amounts to be recognized in pension expense in future periods 1,819,059 (2,257,029) City contributions subsequent to the measurement date 1,773,422 - Total deferred amounts related to pensions $ 3,592,481 $ (2,257,029) 57 Page 413 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) $1,773,422 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2021. The deferred outflows and deferred inflows resulting from the difference between projected and actual earnings on pension plan investments will be recognized as a reduction of pension expense over five years. The other deferred inflows and outflows will be recognized in pension expense using the average expected remaining service lives of all IPERS members. The average is determined by taking the calculated total future service years of the Plan divided by the number of the people in the Plan including retirees. Deferred outflows of resources and deferred inflows of resources will be recognized in pension expense as follows: Years ended June 30: 2021 $ 335,615 2022 (348,663) 2023 (206,318) 2024 (209,973) 2025 (8,631) $ (437,970) Actuarial assumptions:The total pension liability was determined by an actuarial valuation as of June 30, 2019, using the following actuarial assumptions, applied to all periods included in the measurement: Rate of inflation 2.60% per annum (effective June 30, 2020) Rates of salary increases 3.25%to 16.25%, average, including inflation. (effective June 30, 2020) Rates vary by membership group. Long-term effective investment rate of return 7.00%, compounded annually, net of investment (effective June 30, 2020) expense, including inflation. Wage growth 3.25%, per annum, based on 2.60% (effective June 30, 2020) inflation and 0.65% real wage inflation. Mortality rates were based on the RP-2014 Employee and Health Annuitant Tables with MP 2017 generational economic adjustments. The actuarial assumptions used in the June 30, 2019 valuation were based on the results of an assumption study dated March 24, 2017 and demographic assumption study dated June 28, 2018. The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. 58 Page 414 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: Long-Term Expected Real Asset Class Asset Allocation Rate of Return Core-plus fixed income 27.0% 1.97% Domestic equity 22.0 6.01 Global smart beta equity 3.0 6.23 International equity 15.0 6.48 Private equity 11.0 10.81 Private real assets 7.5 4.14 Public real assets 7.0 2.91 Public credit 3.5 3.93 Private credit 3.0 3.11 Cash 1.0 (0.25) 100.0% Discount rate:The discount rate used to measure the total pension liability was 7.00%. The projection of cash flows used to determine the discount rate assumed that employee contributions will be made at the current contribution rate and that contributions from cities will be made at contractually required rates, actuarially determined. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivity of the City's proportionate share of the net pension liability to changes in the discount rate:The following presents the City's proportionate share of the net pension liability calculated using the discount rate of 7.00%, as well as what the City's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower(6.00%) or 1-percentage-point higher(8.00%)than the current rate: 1% Decrease Discount Rate 1% Increase (6.00%) (7.00%) (8.00%) City's proportionate share of the net pension liability $ 25,324,448 $ 14,261,854 $ 4,982,671 Pension plan fiduciary net position. Detailed information about the pension plan's fiduciary net position is available in the separately issued IPERS financial report; which can be located at www.ipers.org. Municipal Fire and Police Retirement System of Iowa Plan description: MFPRSI membership is mandatory for fire fighters and police officers covered by the provisions of Chapter 411 of the Code of Iowa. Employees of the City are provided with pensions through a cost-sharing multiple employer defined benefit pension plan administered by MFPRSI. MFPRSI issues a stand-alone financial report which is available to the public by mail at 7155 Lake Drive, Suite#201, West Des Moines, Iowa 50266 or at www.mfprsi.org. 59 Page 415 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) MFPRSI benefits are established under Chapter 411 of the Code of Iowa and the administrative rules thereunder. Chapter 411 of the Code of Iowa and the administrative rules are the official plan documents. The following brief description is provided for general informational purposes only. Refer to the plan documents for more information. Pension benefits: Members with 4 or more years of service are entitled to pension benefits beginning at age 55. Full service retirement benefits are granted to members with 22 years of service, while partial benefits are available to those members with 4 to 22 years of service based on the ratio of years completed to years required (i.e., 22 years). Members with less than 4 years of service are entitled to a refund of their contribution only, with interest, for the period of employment. Benefits are calculated based upon the member's highest 3 years of compensation. The average of these 3 years becomes the member's average final compensation. The base benefit is 66% of the member's average final compensation. Additional benefits are available to members who perform more than 22 years of service (2%for each additional year of service, up to a maximum of 8 years). Survivor benefits are available to the beneficiary of a retired member according to the provisions of the benefit option chosen plus an additional benefit for each child. Survivor benefits are subject to a minimum benefit for those members who chose the basic benefit with a 50% surviving spouse benefit. Active members, at least 55 years of age, with 22 or more years of service have the option to participate in the Deferred Retirement Option Program (DROP). The DROP is an arrangement whereby a member who is otherwise eligible to retire and commence benefits opts to continue to work. A member can elect a 3, 4, or 5 year DROP period. By electing to participate in DROP the member is signing a contract indicating the member will retire at the end of the selected DROP period. During the DROP period the member's retirement benefit is frozen and a DROP benefit is credited to a DROP account established for the member. Assuming the member completes the DROP period, the DROP benefit is equal to 52% of the member's retirement benefit at the member's earliest date eligible and 100% if the member delays enrollment for 24 months. At the member's actual date of retirement, the member's DROP account will be distributed to the member in the form of a lump sum or rollover to an eligible plan. Disability and death benefits: Disability coverage is broken down into two types, accidental and ordinary. Accidental disability is defined as permanent disability incurred in the line of duty, with benefits equivalent to the greater of 60% of the member's average final compensation or the member's service retirement benefit calculation amount. Ordinary disability occurs outside the call of duty and pays benefits equivalent to the greater of 50% of the member's average final compensation, for those with 5 or more years of service, or the member's service retirement benefit calculation amount, and 25% of average final compensation for those with less than 5 years of service. Death benefits are similar to disability benefits. Benefits for accidental death are 50% of the average final compensation of the member plus an additional amount for each child, or the provisions for ordinary death. Ordinary death benefits consist of a pension equal to 40% of the average final compensation of the member plus an additional amount for each child, or a lump-sum distribution to the designated beneficiary equal to 50% of the previous year's earnable compensation of the member or equal to the amount of the member's total contributions plus interest. Benefits are increased (escalated)annually in accordance with Chapter 411.6 of the Code of Iowa which states a standard formula for the increases. The surviving spouse or dependents of an active member who dies due to a traumatic personal injury incurred in the line of duty receives a $100,000 lump-sum payment. 60 Page 416 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Contributions: Member contribution rates are set by state statute. In accordance with Chapter 411 of the Code of Iowa as modified by act of the 1994 General Assembly, to establish compliance with the Federal Older Workers Benefit Protections Act, the contribution rate was 9.40% of earnable compensation for the year ended June 30, 2020. Employer contribution rates are based upon an actuarially determined normal contribution rate and set by state statute. The required actuarially determined contributions are calculated on the basis of the entry age normal method as adopted by the Board of Trustees as permitted under Chapter 411 of the Code of Iowa. The normal contribution rate is provided by state statute to be the actuarial liabilities of the plan less current plan assets, with such total divided by 1% of the actuarially determined present value of prospective future compensation of all members, further reduced by member contributions and state appropriations. Under the Code of Iowa the employer's contribution rate cannot be less than 17% of earnable compensation. The City's contribution rate was 26.02%for the year ended June 30, 2020. The City's contributions to MFPRSI for the year ended June 30, 2020 were $4,243,059. If approved by the state legislature, state appropriation may further reduce the employer's contribution rate, but not below the minimum statutory contribution rate of 17% of earnable compensation. The State of Iowa therefore is considered to be a nonemployer contributing entity in accordance with the provisions of the Governmental Accounting Standards Board Statement No. 67—Financial Reporting for Pension Plans, (GASB 67). There were no state appropriations to MFPRSI during their fiscal year ended June 30, 2020. Net pension liabilities, pension expense, and deferred inflows and outflows of resources related to pensions: At June 30, 2020, the City reported a liability of$36,614,772 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all MFPRSI participating employers. At June 30, 2020, the City's proportion was 5.58%, a decrease of 0.020213% from the City's proportion at June 30, 2019. For the year ended June 30, 2020, the City recognized pension expense of$3,051,028. At June 30, 2020, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences between expected and actual experience $ 1,260,820 $ (342,625) Changes of assumptions 1,838,361 (159,359) Net difference between projected and actual earnings on pension plan investments 2,017,334 - Changes in proportion and differences between City contributions and proportionate share of contributions 34,109 (121,561) Total deferred amounts to be recognized in pension expense in future periods 5,150,624 (623,545) City contributions subsequent to the measurement date 4,243,059 - Total deferred amounts related to pensions $ 9,393,683 $ (623,545) 61 Page 417 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) $4,243,059 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2021. The deferred outflows and deferred inflows resulting from the difference between projected and actual earnings on pension plan investments will be recognized as a reduction of pension expense over five years. The other deferred inflows and outflows will be recognized in pension expense using the average expected remaining service lives of all MFPRSI members. The average is determined by taking the calculated total future service years of the Plan divided by the number of the people in the Plan including retirees. Deferred outflows of resources and deferred inflows of resources will be recognized in pension expense as follows: Years ended June 30: 2021 $ 2,365,045 2022 295,578 2023 1,040,706 2024 779,872 2025 45,878 $ 4,527,079 Actuarial assumptions: The total pension liability in the June 30, 2018, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 3.00% Salary increases 3.75% to 15.11%, average, including inflation. Investment rate of return 7.50%, net of pension plan investment expense, including inflation The actuarial assumptions used in the June 30, 2019 valuation were based on the results of an actuarial experience study for the period from July 1, 2007 to June 30, 2017. Mortality rates were based on RP 2014 Blue Collar Combined Healthy table with males set-forward zero years, females set-forward two year and disabled set-forward three year(males only rates), with generational projection of future mortality improvement with 50% of Scale BB beginning 2017. The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates (i.e., expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. 62 Page 418 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Long-Term Asset Expected Real Asset Class Allocation Rate of Return Large cap 5.50% Small cap 5.80 International large cap 7.30 Core plus fixed income 3.30 Emerging markets 9.00 Emerging market debt 6.30 Master limited partnerships 9.00 Core Investments 40.00% Private Equity/Debt 15.00 9.00 Private core real estate 6.00 Private non-core real estate 8.00 Real Estate 10.00 Tactial Asset Allocation 35.00 6.40 100.00% Discount rate: The discount rate used to measure the total pension liability was 7.5%. The projection of cash flows used to determine the discount rate assumed that contributions will be made at 9.40% of covered payroll and the City contributions will be made at rates equal to the difference between actuarially determined rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivity of City's proportionate share of the net pension liability to changes in the discount rate: The following presents the City's proportionate share of the net pension liability calculated using the discount rate of 7.50%, as well as what the city's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percent lower(6.50%) or 1-percent higher(8.50%)than the current rate. 1% Decrease Discount Rate 1% Increase (6.50%) (7.50%) (8.50%) City's proportionate share of the net pension liability $ 59,615,269 $ 36,614,772 $ 17,565,859 Component unit: Waterloo Water Works contributes to the Waterloo Water Works Pension Plan (WWW Plan) and the Iowa Public Employees' Retirement System (IPERS). 63 Page 419 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Waterloo Water Works Pension Plan: Plan description:The Waterloo Water Works Pension Plan is a single-employer defined benefit plan administered by the Pension Committee of Waterloo Water Works. The WWW Plan provides retirement benefits to plan members and beneficiaries. No new WWW Plan members were allowed after December 31, 2007. The WWW Plan does not issue a stand-alone financial report. The actuarial report on the Plan is held at the Waterloo Water Work's office. The following brief description is provided for general informational purposes only. Refer to the WWW plan documents for more information. Pension benefits: Retirement benefits are calculated using the highest three consecutive years of pensionable earnings during the last ten years of employment. The accrued benefit is determined to be 60% of average compensation, reduced if years of service is less than thirty years. Normal retirement age is 65. Married members may receive a benefit for life; however, members are required by law to receive a reduced qualified joint and survivor benefit, unless formally elected otherwise. In no event shall pensionable earnings exceed the limitation specified in Section 401(a)(17)of the Internal Revenue Code. Cost-of-living adjustments are provided to members and beneficiaries at the discretion of the Committee. As of December 31, the following members were covered by the WWW Plan: Inactive plan members and beneficiaries currently receiving benefits 36 Inactive plan members entitled to but not yet receiving benefits 1 Active plan members 13 Total members 50 Contributions: The contribution requirements of the Plan members (employees) and Waterloo Water Works are established and may be amended by Waterloo Water Works. Mandatory contributions to the WWW Plan by WWW Plan members are equal to the IPERS rate effective January 1 of the previous year, 5.95% for the year ending December 31, 2019. Prior to 2010, WWW Plan member contributions were not required and Waterloo Water Works made all the required contributions. Beginning January 1, 2010, WWW Plan members were required to contribute one-third of the full contribution rate of 4.1% and Waterloo Water Works paid the rest of the required contribution. As of January 1, 2011, WWW Plan members were required to contribute two-thirds of the full contribution rate of 4.3% and beginning January 1, 2012, WWW Plan members were required to contribute all of the mandatory contributions. The Waterloo Water Works Board of Trustees has approved Waterloo Water Works contributions to the Plan in excess of the amount determined annually by the actuary in an effort to eliminate over time the net pension liability as computed by the actuary. 64 Page 420 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Net pension liabilities,pension expense and deferred outflows of resources and deferred inflows of resources related to pensions:At December 31, 2019, the Water Works' recognized pension expense of$541,511. At December 31, 2019, the Water Works' reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows Inflows of Resources of Resources Differences between expected and actual experience $ - $ (18,129) Changes in assumptions 162,972 Net difference between projected and actual earnings on pension plan investments - (457,542) $ 162,972 $ (475,671) Amounts reported as deferred outflows of resources and deferred inflows or resources will be recognized in pension expense as follows: Pension Expense Amount Years ending December 31: 2020 $ 58,921 2021 (111,344) 2022 (33,505) 2023 (226,771) Total $ (312,699) Actuarial assumptions:The Waterloo Water Works' net pension liability was measured as of December 31, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The total pension liability in the December 31, 2019 was determined using the following actuarial assumptions, applied to all periods included in the measurement: Rate of inflation 2.50% per annum Rates of salary increases 3.00% per annum Long-term investment rate of return 7.50%, compounded annually, net of investment expenses. 65 Page 421 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) The actuarial assumptions used in the December 31, 2019 valuation were based on the results of an actuarial experience study for the period January 1, 2019 through December 31, 2019. In addition, mortality rates were based on 2020 IRS Combined Mortality Table as appropriate. The long-term expected rate of return on WWW Plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These expected future real rates of return are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the WWW Plan's target asset allocation as of December 31, 2019 are summarized in the following table: Long-Term Target Expected Real Allocation Rate of Return Asset Class: Cash and fixed income 28% 2.50% Equity large cap 56 5.50 Equity mid cap 9 6.00 Equity small cap 7 6.00 Real estate - 5.00 Total 100% Discount rate:The discount rate used to measure the total pension liability was 8.00%. The projection of cash flows used to determine the discount rate assumed that WWW Plan member contributions will be made at the current contribution rate and that contributions will be made at rates equal to the differences between actuarially determined contribution rates and the member rate. Professional judgement on future contributions has been applied in those cases where contribution patterns deviate from the actuarially determined rates. Based on those assumptions the WWW Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long- term expected rate of return on pension plan investments was applied to all periods of projected benefit. Sensitivity of the net pension liability to changes in the discount rate: The following presents the net pension liability calculated using the discount rate of 7.50%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1% lower, or 1% higher than the current rate: 1% Decrease Discount Rate 1% Increase (6.50%) (7.50%) (8.50%) Net pension liability $ 2,496,832 $ 1,718,287 $ 1,041,079 66 Page 422 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Changes in Waterloo Water Works'net pension liability:Changes in the Waterloo Water Works' net pension liability for the year ended December 31, 2019 were as follows: Total Plan Net Pension Fiduciary Net Pension Liability Position Liability Balance, beginning of year $ 8,706,901 $ 5,784,103 $ 2,922,798 Changes for the year: Service cost 42,951 - 42,951 Interest 672,982 - 672,982 Difference between expected and actual experience (36,258) - (36,258) Changes in assumptions 325,945 - 325,945 Contributions, employer - 563,701 (563,701) Contributions, member - 52,209 (52,209) Net investment income - 1,594,221 (1,594,221) Benefit payments including refunds of employee contributions (675,155) (675,155) - Balance, end of year $ 9,037,366 $ 7,319,079 $ 1,718,287 Payables to the Waterloo Water Works'Plan:All required Waterloo Water Works contributions and required employee contributions which had been withheld from employee wages were remitted to the WWW Plan by December 31, 2019. IPERS—Waterloo Water Works: Plan Description: IPERS membership is mandatory for employees of Waterloo Water Works, except for those covered by another retirement system. Employees of Waterloo Water Works are provided with pensions through a cost-sharing multiple-employer defined benefit pension plan administered by (PERS. IPERS issues a stand-alone financial report which is available to the public by mail at 7401 Register Drive, P.O. Box 9117, Des Moines, IA 50306-9117 or at www.ipers.org. IPERS benefits are established under Iowa Code Chapter 97B and the administrative rules thereunder. Chapter 97B and the administrative rules are the official plan documents. The following brief description is provided for general information purposes only. Refer to the plan documents for more information. 67 Page 423 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Pension benefits:A regular member may retire at normal retirement age and receive monthly benefits without an early-retirement reduction. Normal retirement age is age 65, any time after reaching age 62 with 20 or more years of covered employment, or when the member's years of service plus the member's age at the last birthday equals or exceeds 88, whichever comes first. (These qualifications must be met on the member's first month of entitlement to benefits.) Members cannot begin receiving retirement benefits before age 55. The formula used to calculate a regular member's monthly IPERS benefit includes: • A multiplier(based on years of service). • The member's highest five-year average salary. (For members with service before June 30, 2012, the highest of three-year average salary as of that date will be used if it is greater than the highest five- year average salary). If a member retires before normal retirement age, the member's monthly retirement benefit will be permanently reduced by an early-retirement reduction. The early-retirement reduction is calculated differently for service earned before and after July 1, 2012, the reduction is 0.50% for each month that the member receives benefits before age 65. Generally, once a member selects a benefit option, a monthly benefit is calculated and remains the same for the rest of the member's lifetime. However, to combat the effects of inflation, retirees who began receiving benefits prior to July 1, 1990 receive a guaranteed dividend with their regular November benefit payments. Disability and death benefits: A vested member who is awarded federal Social Security disability or Railroad Retirement disability benefits is eligible to claim IPERS benefits regardless of age. Disability benefits are not reduced for early retirement. If a member dies before retirement, the member's beneficiary will receive a lifetime annuity or a lump-sum payment equal to the present actuarial value of the member's accrued benefit or calculated with a set formula, whichever is greater. When a member dies after retirement, death benefits depend on the benefit option the member selected at retirement. Contributions: Contribution rates are established by IPERS following the annual actuarial valuation, which applies IPERS' Contribution Rate Funding Policy and Actuarial Amortization Method. Statute limits the amount rates can increase or decrease each year to one percentage point. IPERS' Contribution Rate Funding Policy requires that the actuarial contribution rate be determined using the "entry age normal" actuarial cost method and the actuarial assumptions and methods approved by the IPERS Investment Board. The actuarial contribution rate covers normal cost plus the unfunded actuarial liability payment based on a 30-year amortization period. The payment to amortize the unfunded actuarial liability is determined as a level percentage of payroll, based on the Actuarial Amortization Method adopted by the Investment Board. In fiscal year 2019, pursuant to the required rate, regular members contributed 6.29% of covered payroll and Waterloo Water Works contributed 9.44% of covered payroll for a total rate of 15.73%. 68 Page 424 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) The Waterloo Water Works' contributions to IPERS for the year ended December 31, 2018 were $116,656. As December 31, 2019, the Waterloo Water Works' liability for its proportionate share of the net pension liability totaled $951,791. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The Water Works' proportion of the net pension liability was based on the Water Works' share of contributions to the pension plan relative to the contributions of all IPERS participating employers. At June 30, 2019, the Water Works' collective proportion was 0.016437%, which was an increase of 0.000383% from its proportion measured as of June 30, 2018. For the year ended December 31, 2019, the Water Works recognized pension expense of$94,552. At December 31, 2019, the Water Works reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences between expected and actual experience $ 2,639 $ (34,221) Changes of assumptions 101,950 Net difference between projected and actual earnings on (PERS' investments - (107,255) Changes in proportion and differences between Water Works contributions and proportionate share of contributions 70,035 (23,186) Total deferred amounts to be recognized in pension expense in future periods 174,624 (164,662) Water Works contributions subsequent to the measurement date 61,467 - Total deferred amounts related to pensions $ 236,091 $ (164,662) Deferred outflows of resources related to pensions of$61,467 represent the amount Waterloo Water Works contributed subsequent to the measurement date and will be recognized as a reduction of the net pension liability in the year ended December 31, 2020. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Years ended December 31: 2020 $ 45,179 2021 (5,553) 2022 (6,404) 2023 (18,724) 2024 (4,536) $ 9,962 There were no nonemployer contributing entities at IPERS. 69 Page 425 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Actuarial assumptions:The total pension liability in the June 30, 2019 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurements: The actuarial assumptions used in the June 30, 2019 valuation were based on the results of actuarial experience study dated June 28, 2018. Rate of inflation 2.60% per annum (effective June 30, 2020) Rates of salary increases 3.25%to 16.25%, average, including inflation. (effective June 30, 2020) Rates vary by membership group. Long-term effective investment rate of return 7.00%, compounded annually, net of investment (effective June 30, 2020) expense, including inflation. Wage growth 3.25%, per annum, based on 2.60% (effective June 30, 2020) inflation and 0.65% real wage inflation. Mortality rates were based on the RP-2014 Employee and Healthy Annuitant Tables with MP-2017 generational adjustments. The long-term expected rate of return on IPERS' investments was determined using a building-block method in which best-estimate ranges of expected future real rates (expected returns, net of investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: Long-Term Expected Real Asset Class Asset Allocation Rate of Return Core-plus fixed income 27.0% 1.97% Domestic equity 22.0 6.01 Global smart beta equity 3.0 6.23 International equity 15.0 6.48 Private equity 11.0 10.81 Private real assets 7.5 4.14 Public real assets 7.0 2.91 Public credit 3.5 3.93 Private credit 3.0 3.11 Cash 1.0 (0.25) 100.0% 70 Page 426 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 10. Retirement Systems (Continued) Discount rate:The discount rate used to measure the total pension liability was 7.0%. The projection of cash flows used to determine the discount rate assumed that employee contributions will be made at the contractually required rate and that contributions from Waterloo Water Works will be made at contractually required rates, actuarially determined. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivity of the Waterloo Water Works'proportionate share of the net pension liability to changes in the discount rate:The following presents the Waterloo Water Works' proportionate share of the net pension liability calculated using the discount rate of 7.00%, as well as what the Waterloo Water Works' proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1% lower(6.00%) or 1% higher(8.00%)than the current rate. 1% Decrease Discount Rate 1% Increase (6.00°/x) (7.00%) (8.00%) Water Work's proportionate share of the net pension liability $ 1,690,073 $ 951,791 $ 332,528 (PERS'Fiduciary net position: Detailed information about the IPERS' fiduciary net position is available in the separately issued IPERS financial report which is available on IPERS' website at www.il)ers.org. Payables to the pension plan:At December 31, 201+9, Waterloo Water Works reported payables to IPERS of$9,991 for legally required Waterloo Water Works' contributions and $6,657 for legally required Waterloo Water Works' contributions which had been withheld from employee wages but not yet remitted to IPERS. Note 11. Deficit Fund Balances Funds with deficit balances as of June 30, 2020 were as follows: Nonmajor governmental: Special revenue: Community Development Block Grant $ 64,910 Grants 370,491 Capital projects, Capital Improvements 2,586,350 The deficit of the above funds are expected to be eliminated through future transfers from other funds, grant proceeds or bond proceeds. 71 Page 427 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 12. Commitments Construction: The City is involved in construction of capital assets, mainly streets, riverfront improvements and Brownfields reconstruction. Much of the construction is partially funded through federal, state and local grants and donations. City participation in the programs is generally funded through proceeds of debt issues and local option taxes. As of June 30, 2020, the City was committed to approximately$53.4 million of construction contracts. Property tax rebates: The City has entered into a number of development agreements with various businesses located in City tax increment financing districts. The agreements generally offer rebates of portions of taxes paid for up to 10 years, depending on each individual agreement. The amount of the rebates are a percentage of the actual taxes paid by the business. Rebates are reported at the time property taxes are received. See Note 19 for additional information. Loan guarantee: The City has guaranteed a bank loan of Cedar Skyline Corporation d/b/a Main Street Waterloo, a not-for-profit corporation. Main Street Waterloo and the City are not part of the same reporting entity. In 1999, Main Street Waterloo entered into a loan agreement with a financial institution, which was amended in 2006, 2010 and 2016. The note matures monthly through August 17, 2020. When the loan was entered into, the City voted to extend a nonexchange financial guarantee on the Main Street Waterloo loan. In the event that Main Street Waterloo is unable to repay the loan, the City would be required to make the payment, with no requirements for Main Street Waterloo to repay the City if the City has to pay any amount on the loan. As of June 30, 2020, the loan balance was $191,935. Based on City management's assessment of the qualitative factors and historical data, the City has not recorded a liability for this nonexchange financial guarantee. Note 13. Other Postemployment Benefits Plan description: The City's defined benefit OPEB plan, a single-employer health care plan provides OPEB for all active and retired employees and their eligible dependents. Group insurance benefits are established under Iowa Code Chapter 509A.13. No assets are accumulated in a trust that meets the criteria in paragraph 4 of Statement 75. The plan does not issue a stand-alone financial report. Benefits provided: Individuals who are employed by the City are eligible to participate in the group health plan are eligible to continue healthcare benefits upon retirement. As required by state law, employees who retire from service with the City prior to age 65 are eligible for coverage in the plan. Police and fire employees must have completed four years of service, be age 55 and vested in the Municipal Fire and Police Retirement System. All other employees must have completed four years of service (seven years of service after July 1, 2012), be age 55 and be vested in IPERS to participate in the plan. Retirees are allowed to be covered by the plan until they are Medicare eligible at 65. Spouses of retirees are eligible to be covered on the plan for an additional eight ears or until they reach age 65. Contributions:The current funding policy of the City is to pay health claims as they occur. Contributions are required for both retiree and dependent coverage. Retirees are required to pay the current premium equivalent amounts less a contribution subsidy provided by the City for those employees hired prior to July 1, 1990. The contribution subsidy available to retirees and their eligible dependents is determined by years of service and the date of retirement. The subsidy is available until a retiree reaches age 65. Once the retiree reaches age 65, the dependent may continue coverage at a 100% subsidy, grading down 20% each year thereafter. This benefit is available only to those hired before July 1, 1990. The percentage of the month contribution that the City subsidizes is detailed in the table on the next page. 72 Page 428 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 13. Other Postemployment Benefits (Continued) Employer Subsidy Criteria Percentage Retire prior to September 1, 1990: All employees 100% Retire on or after September 1, 1990: Hired prior to July 1, 1990: 28+ continuous years of service 100 20-27 continuous years of service 80 15-19 continuous years of service 60 10-14 continuous years of service 40 < 10 continuous years of service - Hired on or after July 1, 1990: All employees - The current full premium equivalent amounts as of June 30, 2020 are shown below: PPO Dental Single $ 655 $ 36 Subscriber and spouse 1,660 91 Disabled retirees follow a contribution schedule that is slightly different from regular retirees. Work related incidents allow disabled retirees and their dependents a 100% subsidy until age 65. Nonwork related incidents allow a 75% subsidy until age 65. Once the retiree reaches age 65, dependents of disabled retirees receive a 75% subsidy, grading down 20% each year thereafter. Employees covered by benefit terms: At June 30, 2020, the following employees were covered by the benefit terms: Inactive employees currently receiving benefits 100 Active employees, fully eligible for benefits 25 Active employees, not fully eligible for benefits 504 629 73 Page 429 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 13. Other Postemployment Benefits (Continued) Total OPEB liability: The City's total OPEB liability of$22,031,599 was measured as of June 30, 2020, and was determined by an actuarial valuation as of that date. Actuarial methods and assumptions: The total OPEB liability in the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Inflation 3.0% per annum Salary increases 3.25% per annum Discount rate 3.50% as of July 1, 2019 and 2.21% as of June 30, 2020 Health care cost trend rates: Premedicare medical and Rx 6.0% reduced 0.5% per annum to ultimate of 4.5% benefits Medicare benefits 5.0% reduced 0.5% per annum to ultimate of 4.5% Stop loss fees 6.0% reduced 0.5% per annum to ultimate of 4.5% Administrative fees 4.5% reduced 0.5% per annum to ultimate of 4.5% Mortality rates PUB-2010 morality table with generational scale MP-2019 The discount rate was based on Bond Buyer 20-Bond GO index. The actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study used in the MFPRSI Actuarial Valuation Report as of July 1, 2019 and (PERS Actuarial Valuation as of June 30, 2019. Changes in the total OPEB liability Total OPEB Liability Balance as of June 30, 2019 $ 20,264,728 Changes for the year: Service cost 719,666 Interest 698,071 Difference between actual and expected experience 2,028,724 Changes in assumptions or other inputs 399,421 Contributions and payments made (2,079,011) Net changes 1,766,871 Balance as of June 30, 2020 $ 22,031,599 Sensitivity of the total OPEB liability to changes in the discount rate: The following presents the total OPEB liability of the City, as well as what the City's approximate total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower(1.21%) or 1-percentage-point higher (3.21%)than the current discount rate: 1% Decrease Discount Rate 1% Increase 1.21% 2.21% 3.21% Total OPEB liability $ 23,570,000 $ 22,031,599 $ 20,631,000 74 Page 430 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 13. Other Postemployment Benefits (Continued) Sensitivity of the total OPEB liability to changes in the healthcare cost trend rates: The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates: Health Care 1% Decrease Current Trend 1% Increase Total OPEB liability $ 20,120,000 $ 22,031,599 $ 24,246,000 OPEB expense and deferred outflows of resources and deferred inflows of resources related to OPEB: For the year ended June 30, 2020, the City recognized OPEB benefit of$383,902. At June 30, 2020, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following source: Deferred Outflows Deferred Inflow of Resources of Resources Difference between actual and expected experience $ 1,805,714 $ - Changes of assumptions or other inputs 726,081 (254,554) $ 2,531,795 $ (254,554) Amounts reported as the deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense over the average future service to retirement of plan participants as follows: Years ending June 30: 2021 $ 277,373 2022 277,373 2023 277,373 2024 277,373 2025 277,373 Thereafter 890,376 $ 2,277,241 Note 14. Employee Health Care Plan The City provides health care, including dental, vision and prescription coverages, to its employees and certain former employees through a self-funded health insurance plan. Administration is provided by contracted providers. The City accounts for the plan in the General Fund, City Clerk and Finance Department, Health/Life Insurance Activity. Other funds, departments and activities are assessed for costs based on current and former employees within the activity. General Fund costs of these activities are funded by an employee benefits levy in the Trust and Agency Fund. The City is allowed to levy amounts needed to provide benefits. The City purchases stop-loss insurance, $100,000 specific and 125% aggregate of expected claims. 75 Page 431 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 14. Employee Health Care Plan (Continued) The City's estimated unpaid claims as of June 30 and its needed reserves for claim fluctuation were determined by an actuarial study performed as of June 30. All outstanding claims are considered matured and expected to be paid in fiscal year 2020, with current available financial resources, and accordingly, a liability payable from restricted resources is reported within the General Fund. Changes and balances are as follows: 2020 2019 Estimated unpaid claims, beginning of year $ 1,050,406 $ 1,241,336 Estimated claims incurred 10,560,167 11,514,762 Claims payments (10,680,665) (11,705,692) Estimated unpaid claims, end of year $ 929,908 $ 1,050,406 Note 15. Worker's Compensation Plan The City provides worker's compensation benefits through a self-funded plan. Administration is provided by a contracted provider. The City accounts for the plan in the General Fund, City Clerk and Finance Department, Self-Funded Worker's Compensation Activity. Costs are funded by an employee benefits levy in the Trust and Agency Fund. The City is allowed to levy amounts needed to provide benefits. The City's estimated unpaid claims as of June 30 are based on projected costs of future payments for injuries incurred prior to June 30, 2020, and is recorded as a liability in the government-wide statement of net position. $24,342 is considered matured and is recorded in the General Fund and governmental activities with accrued liabilities. Changes and balances are as follows: 2020 2019 Estimated unpaid claims, beginning of year $ 550,508 $ 721,019 Estimated claims incurred 977,761 537,910 Claims payments (942,604) (708,421) Estimated unpaid claims, end of year $ 585,665 $ 550,508 Note 16. Joint Ventures and Jointly Governed Organizations The City is a participating member of several organizations including the Black Hawk County Criminal Justice Information System (CJIS), the Consolidated Dispatch Center(Center), the Black Hawk County Solid Waste Management Commission (SWMC) and the Metropolitan Transit Authority(MET). In addition, the City pays its share of costs for CJIS, including debt service, pays its share of costs of the Center, pays landfill fees to SWMC and levies and collects property taxes from Black Hawk County and remits them to MET ($2,105,053 during the year ended June 30, 2020). Also, during the year ended June 30, 2020, the Sanitation Fund received an operating grant of$273,624 from SWMC. This grant was used to offset recycling costs. The Center's financial information is reported within the Black Hawk County annual financial report. CJIS, SWMC and MET issue their own annual reports. Reports are available on the Iowa Auditor of State's website http://auditor.iowa.gov/reports. The City has no equity position in any of the organizations. 76 Page 432 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 17. Industrial Development Revenue Bonds The City has issued a total of$160,401,000 of industrial development revenue bonds under the provisions of Chapter 419 of the Code of Iowa. The amount outstanding as of June 30, 2020 is not reported to the City by either the debtors or creditors. Therefore, outstanding balances are unknown. The bonds and related interest are payable solely from revenue of applicable projects. Bond principal and interest do not constitute liabilities of the City. Note 18. Risk Management The City is exposed to various risks of loss related to torts; theft, damage to and destruction of assets; errors and omissions; injuries to employees; and natural disasters. These risks are covered by the purchase of commercial insurance and self-funded worker's compensation. Settled claims from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years. The City assumes the risks of loss of both mobile vehicles and equipment, except for certain pieces of equipment, such are fire and forestry equipment, with large per-unit costs which are insured against loss subject to deductibles. As of June 30, 2020, the City has assigned $2,401,695 of its General Fund, fund balance for insurable risks retained. Note 19. Tax Abatements GASB Statement No. 77 defines tax abatements as a reduction in tax revenues that results from an agreement between one or more governments and an individual or entity in which (a)one or more governments promise to forgo tax revenues to which they are otherwise entitled and (b)the individual or entity promises to take a specific action after the agreement that has been entered into that contributes to economic development or otherwise benefits the governments or the citizens of those governments. City tax abatements: The City provides tax abatements for urban renewal and economic development projects with tax increment financing as provided for in Chapters 15A and 403 of the Code of Iowa. For these types of projects, the City enters into agreements with developers which require the City, after developers meet the terms of the agreements, to rebate a portion of the property tax paid by the developers, to pay the developers an economic development grant or to pay the developers a predetermined dollar amount. No other commitments were made by the City as part of these agreements. For the year ended June 30, 2020, the City abated $2,755,374 of property tax under the urban renewal and economic development projects. 77 Page 433 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 20. Fund Balances GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, establishes criteria for classifying fund balances into specifically defined classifications and clarifies definitions for governmental fund types. The details for the City's fund balances are as follows: Tax General Trust and Increment Obligation Road Use Nonmajor Fund balances: General Agency Financing Debt Service Tax Governmental Total Nonspendable: Inventories $ 500,610 $ $ $ $ 123,979 $ - $ 624,589 Prepaids 83,680 16,980 100,660 Total nonspendable 584,290 123,979 16,980 725,249 Restricted: Debt service - - 1,866,819 902,018 - - 2,768,837 Self-funded health insurance 2,731,148 1,844,110 - - 4,575,258 Tourism promotion 1,732,646 - 1,732,646 Public access television 218,701 218,701 Civil rights enforcement 82,376 82,376 Housing 74,254 4,880,682 4,954,936 Donor specified 1,047,504 - - 1,047,504 Employee benefits - 385,788 - 385,788 Library - - 425,857 425,857 Street and right-of-way maintenance 2,034 19,341,897 - 19,343,931 Improvements 37,086,504 37,086,504 Total restricted 5,888,663 2,229,898 1,866,819 902,018 19,341,897 42,393,043 72,622,338 Committed,Police project 229,791 229,791 Assigned: Insurance 2,401,695 2,401,695 Other postemploy- ment benefits 1,040,792 1,040,792 Improvements - - 2,155,815 2,155,815 Other 990,662 661,827 92,747 1,745,236 Use of fund balance for future budget 1,200,000 1,200,000 Total assigned 5,633,149 661,827 2,248,562 8,543,538 Unassigned 11,188,047 (3,674,580) 7,513,467 Total fund balances $ 23,523,940 $ 2,229,898 $ 2,528,646 $ 902,018 $ 19,465,876 $ 40,984,005 $ 89,634,383 78 Page 434 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 21. New GASB Statements and Pending Pronouncements As of June 30, 2020, the City adopted the following Governmental Accounting Standards Board (GASB) Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance. This statement provides temporary relief of governments and other stakeholders in light of the COVID-19 pandemic. The effective dates of certain provisions contained in the following pronouncements are now postponed by the year, unless otherwise stated: • Statement No. 83, Certain Asset Retirement Activities • Statement No. 84, Fiduciary Activities • Statement No. 88, Certain Disclosures related to Debt, including Direct Borrowings and Direct Placements • Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period • Statement No. 90, Majority Equity Interests • Statement No. 91, Conduit Debt Obligations • Statement No. 92, Omnibus 2020 • Statement No. 93, Replacement of Interbank Offered Rates • Statement No. 87, Leases, has been postponed by 18 months The GASB has issued several statements not yet implemented by the City. The statements which might impact the City are as follows: • GASB Statement No. 84, Fiduciary Activities, issued February 2017, will be effective for the City beginning with its fiscal year ending June 30, 2021. The objective of Statement No. 84 is to improve guidance regarding the identification of fiduciary activities for accounting and financial reporting purposes and how those activities should be reported. This Statement establishes criteria for identifying fiduciary activities of all state and local governments. The focus of the criteria generally is on (1)whether a government is controlling the assets of the fiduciary activity and (2)the beneficiaries with whom a fiduciary relationship exists. Separate criteria are included to identify fiduciary component units and postemployment benefit arrangements that are fiduciary activities. An activity meeting the criteria should be reported in a fiduciary fund in the basic financial statements. Governments with activities meeting the criteria should present a statement of fiduciary net position and a statement of changes in fiduciary net position. An exception to that requirement is provided for a business-type activity that normally expects to hold custodial assets for three months or less. This Statement describes four fiduciary funds that should be reported, if applicable: (1) pension (and other employee benefit)trust funds, (2) investment trust funds, (3) private-purpose trust funds, and (4) custodial funds. Custodial funds generally should report fiduciary activities that are not held in a trust or equivalent arrangement that meets specific criteria. 79 Page 435 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 21. New GASB Statements and Pending Pronouncements (Continued) A fiduciary component unit, when reported in the fiduciary fund financial statements of a primary government, should combine its information with its component units that are fiduciary component units and aggregate that combined information with the primary government's fiduciary funds. This Statement also provides for recognition of a liability to the beneficiaries in a fiduciary fund when an event has occurred that compels the government to disburse fiduciary resources. Events that compel a government to disburse fiduciary resources occur when a demand for the resources has been made or when no further action, approval or condition is required to be taken or met by the beneficiary to release the assets. • GASB Statement No. 87, Leases, issued June 2017, will be effective for the City beginning with its fiscal year ending June 30, 2022, with earlier adoption encouraged. Statement No. 87 establishes a single approach to accounting for and reporting leases by state and local governments. Under this statement, a government entity that is a lessee must recognize (1)a lease liability and (2)an intangible asset representing the lessee's right to use the leased asset. In addition, the City must report the (1) amortization expense for using the lease asset over the shorter of the term of the lease or the useful life of the underlying asset, (2) interest expense on the lease liability and (3) note disclosures about the lease. The Statement provides exceptions from the single-approach for short- term leases, financial purchases, leases of assets that are investments and certain regulated leases. This statement also addresses accounting for lease terminations and modifications, sale-leaseback transactions, non-lease components embedded in lease contracts (such as service agreements), and leases with related parties. • GASB Statement No. 91, Conduit Debt Obligations, will be effective for reporting periods beginning after December 15, 2021. The primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated with (1) commitments extended by issuers, (2) arrangements associated with conduit debt obligations, and (3) related note disclosures. This Statement achieves those objectives by clarifying the existing definition of a conduit debt obligation; establishing that a conduit debt obligation is not a liability of the issuer; establishing standards for accounting and financial reporting of additional commitments and voluntary commitments extended by issuers and arrangements associated with conduit debt obligations; and improving required note disclosures. • GASB Statement No. 96, Subscription-Based Information Technology Arrangements, provides guidance on the accounting and financial reporting for subscription-based information technology arrangements (SBITAs)for government end users. This statement (1)defines an SBITA; (2) establishes that an SBITA results in a right-to-us subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including the implementation costs of an SBITA; and (4) requires note disclosure regarding an SBITA. This statement will be effective for the City with its year ending June 30, 2023. 80 Page 436 of 557 City of Waterloo, Iowa Notes to Basic Financial Statements Note 21. New GASB Statements and Pending Pronouncements (Continued) • GASB Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans will result in more consistent financial reporting of defined contribution pension plans, defined contribution OPEB plans, and other employee benefit plans. This statement will also enhance the relevance, consistency and comparability of(1)the information related to Section 457 plans that meet the definition of a pension plan and the benefits provided through those plans and (2) investment information for all Section 457 plans. Another objective of this statement is to increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a potential component unit does not have a governing board and the primary government performs the duties that a governing board typically would perform. This statement will be effective for the City with its year ended June 30, 2022. The City's management has not yet determined the effect these Statements will have on the City's financial statements, which may have a material effect on the financial statements. Note 22. Contingencies On January 30, 2020, the World Health Organization declared the coronavirus outbreak (COVID-19) a "Public Health Emergency of International Concern" and on March 11, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain types of public places and businesses. The coronavirus and actions taken to mitigate the spread of it have had and are expected to continue to have an adverse impact on the economies and financial markets of many countries and their political subdivision. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)was enacted to amongst other provisions, provide emergency assistance for individuals, families and businesses affected by the coronavirus pandemic. It is unknown how long the adverse conditions associated with the coronavirus will last and what the complete financial effect will be to the City. The extent to which COVID-19 may affect the City results will depend on future developments, which are highly uncertain and cannot be predicted, including new information, which may emerge concerning the severity of COVID-19 and actions taken to contain COVID-19 or its impact, among others. Additionally, it is reasonably possible that estimates made in the financial statements have been, or will be, materially and adversely impacted in the near term as a result of these conditions Note 23. Subsequent Events The City authorized the issuance of not to exceed $27,000,000 in state revolving fund loans, Series 2020C. The notes will be used to finance the Wastewater Treatment Plan Biosolids Modifications Project (estimated at$19,186,000) and the Dry Run Creek Sewer Interceptor project(estimated at$5,138,000). 81 Page 437 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of Changes in the City's Total OPEB Liability and Related Ratios Last 10 Fiscal Years (Dollar amounts in thousands) 2020 2019 2018 Total OPEB liability Service cost $ 697,815 $ 697,815 $ 671,816 Interest 774,392 774,392 804,928 Changes of benefit terms - - - Differences between expected and actual experience - - - Changes of assumptions or other inputs 474,740 474,740 (379,447) Benefit payments (1,989,054) (1,989,054) (1,835,828) Net change in total OPEB liability (42,107) (42,107) (738,531) Total OPEB liability—beginning 20,264,728 20,306,835 21,045,366 Total OPEB liability—ending $ 20,222,621 $ 20,264,728 $ 20,306,835 Covered payroll $ 33,584,175 $ 32,673,000 $ 31,567,648 Total OPEB liability as a percentage of covered payroll 60% 62% 64% Changes of assumptions: Changes of assumptions and other inputs reflect the effects of changes in the discount rate each period.The following are the discount rates used in each period: 2020 3.50%per annum 2019 3.50% per annum 2018 3.87% per annum 2017 3.58% per annum In 2018, amounts reflect a 0.5-percentage-point decrease in the health care cost trend rates from the prior year and adjustments to assumptions regarding spousal coverage to better reflect actual plan experience. In 2019,there was no changes to the benefit terms. Note: GASB Statement No. 75 requires 10 years of information to be presented in this table. However, until a full 10-year trend is compiled, the City will present information for those years for which information is available. 82 Page 438 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of the City's Proportionate Share of the Net Pension Liability Iowa Public Employees' Retirement System 2020 2019 Measurement date June 30, 2019 June 30, 2018 City's proportion of the net pension liability 0.2446470% 0.2406008% City's proportionate share of the net pension liability $ 14,261,854 $ 15,225,810 City's covered payroll $ 18,743,655 $ 18,074,184 City's proportionate share of the net pension liability as a percentage of its covered payroll 76.09% 84.24% Plan fiduciary net position as a percentage of the total pension liability 85.45% 83.62% Note: GASB Statement No. 68 requires 10 years of information to be presented in this table. However, until a full 10-year trend is compiled, the City will present information for those years for which information is available. The amounts presented each year are as of the City's measurement date. See notes to required supplementary information. 83 Page 439 of 557 2018 2017 2016 2015 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 0.2379165% 0.2438592% 0.2452672% 0.2415504% $ 15,848,247 $ 15,346,827 $ 12,117,384 $ 9,579,663 $ 17,759,314 $ 17,523,333 $ 16,800,363 18816626 89.24% 87.58% 72.13% 50.91% 82.21% 81.82% 85.19% 87.61% 84 Page 440 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of City Contributions Iowa Public Employees' Retirement System Contributions in Relation to Contributions Statutorily the Statutorily Contributions City's as a Percentage Required Required Deficiency Covered of Covered Contribution Contribution (Excess) Payroll Payroll Fiscal year ending: 2020 $ 1,773,422 $ 1,773,422 - $ 18,786,254 9.44% 2019 1,769,401 1,769,401 - 18,743,655 9.44 2018 1,614,023 1,614,023 - 18,074,184 8.93 2017 1,585,908 1,585,908 - 17,759,314 8.93 2016 1,564,955 1,564,955 - 17,523,333 8.93 2015 1,500,510 1,500,510 - 16,800,363 8.93 2014 1,420,507 1,420,507 - 15,816,626 8.98 2013 1,358,920 1,358,920 - N/A N/A 2012 1,250,399 1,250,399 - N/A N/A 2011 1,066,879 1,066,879 - N/A N/A N/A-information was not available Note:The amounts reported in this schedule are as of the City's fiscal year-end. See notes to required supplementary information. 85 Page 441 of 557 City of Waterloo, Iowa Notes to Required Supplementary Information—IPERS Pension Liability Year Ended June 30, 2020 Note 1. Changes of benefit terms There are no significant changes in benefit terms. Note 2. Changes of assumptions The 2018 valuation implemented the following refinements as a result of an experience study dated June 28, 2018: • Changed mortality assumptions to the RP-2014 mortality tables with mortality improvements modeled using Scale MP-2017. • Adjusted retirement rates. • Lowered disability rates. • Adjusted the probability of a vested Regular member electing to receive a deferred benefit. • Adjusted the merit component of the salary increase assumption. The 2017 valuation implemented the following refinements as a result of an experience study dated March 24, 2017: • Decreased the inflation assumption from 3.00% to 2.60%. • Decreased the assumed rate of interest on member accounts from 3.75% to 3.50% per year. • Decreased the discount rate from 7.50% to 7.00%. • Decreased the wage growth assumption from 4.00%to 3.25%. • Decreased the payroll growth assumption 4.00% to 3.25%. The 2014 valuation implemented the following refinements as a result of a quadrennial experience study: • Decreased the inflation assumption from 3.25%to 3.00%. • Decreased the assumed rate of interest on member accounts from 4.00% to 3.75% per year. • Adjusted male mortality rates for retirees in the Regular membership group. • Reduced retirement rates for sheriffs and deputies between the ages of 55 and 64. • Moved from an open 30-year amortization period to a closed 30-year amortization period for the UAL (unfunded actuarial liability) beginning June 30, 2014. Each year thereafter, changes in the UAL from plan experience will be amortized on a separate closed 20-year period. 86 Page 442 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of the City's Proportionate Share of the Net Pension Liability Municipal Fire and Police Retirement System of Iowa 2020 2019 Measurement date June 30, 2019 June 30, 2018 City's proportion of the net pension liability 5.582145% 5.600213% City's proportionate share of the net pension liability $ 36,614,772 $ 33,343,863 City's covered payroll $ 16,897,902 $ 16,277,606 City's proportionate share of the net pension liability as a percentage of its covered payroll 216.68% 204.85% Plan fiduciary net position as a percentage of the total pension liability 79.94% 81.07% Note: GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the City will present information for those years for which information is available. The amounts presented each year are as of the City's measurement date. See notes to required supplementary information. 87 Page 443 of 557 2018 2017 2016 2015 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 5.703286% 5.688362% 5.724535% 5.720520% $ 33,448,350 $ 46,723,287 $ 36,408,843 $ 26,777,406 $ 16,060,279 $ 15,365,321 $ 15,012,366 $ 14,608,497 208.27% 304.08% 242.53% 183.30% 80.60% 78.20% 83.04% 86.27% 88 Page 444 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of City Contributions Municipal Fire and Police Retirement System of Iowa Contributions in Relation to Contributions Statutorily the Statutorily Contributions City's as a Percentage Required Required Deficiency Covered of Covered Contribution Contribution (Excess) Payroll Payroll Fiscal year ending: 2020 $ 4,243,059 $ 4,243,059 - $ 17,382,462 24.41% 2019 4,396,834 4,396,834 - 16,897,902 26.02 2018 4,180,091 4,180,091 - 16,277,606 25.68 2017 4,186,850 4,186,850 - 16,060,279 26.07 2016 4,280,766 4,280,766 - 15,365,321 27.86 2015 4,565,261 4,565,261 - 15,012,366 30.41 2014 4,418,650 4,418,650 - 14,608,497 30.25 2013 3,844,363 3,844,363 - N/A N/A 2012 3,522,615 3,522,615 - N/A N/A 2011 2,731,277 2,731,277 - N/A N/A N/A-information was not available Note:The amounts reported in this schedule are as of the City's fiscal year-end. See notes to required supplementary information. 89 Page 445 of 557 City of Waterloo, Iowa Notes to Required Supplementary Information—MFPRSI Pension Liability Year Ended June 30, 2020 Note 1. Changes of Benefit Terms There were no significant changes of benefit terms. Note 2. Changes of Assumptions The 2018 valuation changed postretirement mortality rates were based on the RP-2014 Blue Collar Healthy Annuitant Table with males set forward zero years, females set forward two years and disabled individuals set forward three years (male only rates), with generational projection of future mortality improvement with 50% of Scale BB beginning in 2017. The 2017 valuation added five years projection to future mortality improvement scale BB. The 2016 valuation changed postretirement mortality rates to the RP-2000 Blue Collar Combined Healthy Mortality Table with males set-back two years, females set-forward one year and disabled individuals set- forward one year(male only rates), with no projection of future mortality improvement. The 2015 valuation phased in the 1994 Group Annuity Mortality Table for postretirement mortality. This resulted in a weighting of 1/12 of the 1971 Group Annuity Mortality Table and 11/12 of the 1994 Group Annuity Mortality Table. The 2014 valuation phased in the 1994 Group Annuity Mortality Table for postretirement mortality. This resulted in a weighting of 2/12 of the 1971 Group Annuity Mortality Table and 10/12 of the 1994 Group Annuity Mortality Table. 90 Page 446 of 557 City of Waterloo, Iowa Budgetary Comparison Schedule Budget and Actual (Modified Cash Basis)—All Governmental Funds and Proprietary Funds Required Supplementary Information Year Ended June 30, 2020 Budgeted Amounts Original Final Revenues and other financing sources receipts: Receipts: Property taxes $ 40,639,192 $ 40,639,192 Tax increment financing 8,725,719 8,725,719 Other City taxes 17,852,576 18,039,576 Licenses and permits 1,429,150 1,429,150 Use of money and property 1,632,628 1,638,078 Intergovernmental 25,853,013 29,778,656 Charges for services 28,095,203 29,151,967 Special assessments 210,000 210,000 Miscellaneous 6,009,536 11,593,293 Total receipts 130,447,017 141,205,631 Other financing sources: Transfer from other funds 17,663,250 22,672,857 Issuance of long-term debt 18,400,000 27,364,000 Proceeds from insurance - - Proceeds from sale of capital assets 260,000 260,000 Total other financing sources 36,323,250 50,296,857 Total receipts and other financing sources 166,770,267 191,502,488 Disbursements and other financing uses: Governmental-type activities: Public safety 32,748,002 34,743,290 Public works 33,504,748 36,523,263 Health and social services 312,783 313,860 Culture and recreation 11,613,672 11,777,786 Community and economic development 14,147,132 15,279,632 General government 9,849,333 11,804,601 Debt service 13,731,607 23,456,607 Capital projects 24,791,600 29,113,082 Business-type activities 29,118,423 31,675,259 Total disbursements 169,817,300 194,687,380 Other financing uses, transfers to other funds 17,663,250 22,672,857 Total disbursements and other financing uses 187,480,550 217,360,237 Receipts and other financing sources over(under) disbursements and other financing uses (20,710,283) (25,857,749) Balances, beginning of year 102,286,500 102,286,500 Balances,end of year $ 81,576,217 $ 76,428,751 See note to required supplementary information. 91 Page 447 of 557 Variance Actual Amounts With Final Budgetary Basis Budget $ 39,380,547 $ (1,258,645) 8,948,992 223,273 18,240,701 201,125 1,469,725 40,575 3,026,235 1,388,157 24,257,824 (5,520,832) 29,269,566 117,599 201,413 (8,587) 10,310,619 (1,282,674) 135,105,622 (6,100,009) 22,038,235 (634,622) 21,787,918 (5,576,082) 94,038 (165,962) 43,920,191 (6,376,666) 179,025,813 (12,476,675) 33,872,289 871,001 34,507,335 2,015,928 273,898 39,962 9,908,097 1,869,689 13,419,746 1,859,886 9,638,330 2,166,271 22,322,739 1,133,868 18,492,229 10,620,853 22,630,807 9,044,452 165,065,470 29,621,910 22,038,235 634,622 187,103,705 30,256,532 (8,077,892) 17,779,857 116,908,429 102,286,500 $ 108,830,537 $ 120,066,357 92 Page 448 of 557 City of Waterloo, Iowa Note to Required Supplementary Information—Budgetary Reporting Year Ended June 30, 2020 In accordance with the Code of Iowa, the City Council annually adopts a budget on a modified cash basis following required public notice and hearing for all funds. The annual budget may be amended during the year utilizing similar statutorily prescribed procedures. Formal and legal budgetary control is based upon 10 major classes of disbursements known as functions, not by fund or fund type. These 10 functions are: public safety, public works, health and social services, culture and recreation, community and economic development, general government, debt service, capital projects, business-type and nonprogram. Although the budget document presents function disbursements by fund type, the legal level of control is at the aggregated function level, not at the fund or fund type level. During the year, two budget amendments were adopted which increased budgeted expenditures by $24,870,080. The budget amendment is reflected in the final budgeted amount. The City uses the same modified cash basis of accounting for budgetary reporting as is used for its internal financial records. Under this basis, cash transactions are modified by certain receivables and payables and by certain noncash revenue and expenditures. In addition, many transactions which could be recorded in and reported by the Sanitary Sewer Enterprise Fund are recorded in and reported by governmental funds. 93 Page 449 of 557 City of Waterloo, Iowa Schedule of Comparison Funds Statements (GAAP Basis)to Budgetary (Modified Cash) Basis Required Supplementary Information Year Ended June 30, 2020 Governmental Enterprise Fund Types Fund Types GAAP Basis GAAP Basis Actual Amounts Actual Amounts Total Funds Revenue/Receipts: Property taxes and TIF revenue $ 48,086,079 $ $ 48,086,079 Other taxes 18,227,575 18,227,575 Licenses and permits 1,466,645 1,466,645 Use of money and property 2,328,470 205,504 2,533,974 Intergovernmental 19,595,972 275,862 19,871,834 Charges for fees and service 10,018,667 20,876,831 30,895,498 Interfund charges for services 2,180,000 - 2,180,000 Special assessments 126,258 - 126,258 Miscellaneous 3,689,350 1,250,313 4,939,663 Total revenue/receipts 105,719,016 22,608,510 128,327,526 Expenditures and expenses/disbursements: Public safety 34,004,492 - 34,004,492 Public works 22,136,849 22,136,849 Health and social services 270,460 270,460 Culture and recreation 9,906,832 9,906,832 Community and economic development 12,583,363 12,583,363 General government 9,568,714 9,568,714 Debt service 17,185,331 17,185,331 Capital projects 25,718,112 - 25,718,112 Business-type activities - 17,279,202 17,279,202 Total expenditures and expenses/ disbursements 131,374,153 17,279,202 148,653,355 Net (25,655,137) 5,329,308 (20,325,829) (Continued) 94 Page 450 of 557 Property Tax Collected for and Budgetary Remitted Other GAAP Basis to MET,Grout Conversion Budgetary Exceptions and Water Works Adjustments Basis $ $ 2,105,053 $ (1,861,593) $ 48,329,539 - 13,126 18,240,701 - 3,080 1,469,725 - 492,261 3,026,235 - 4,385,990 24,257,824 - (1,625,932) 29,269,566 - (2,180,000) - - 75,155 201,413 - 5,370,956 10,310,619 2,105,053 4,673,043 135,105,622 - (132,203) 33,872,289 2,105,053 10,265,433 34,507,335 - 3,438 273,898 1,265 9,908,097 836,383 13,419,746 69,616 9,638,330 5,137,408 22,322,739 (7,225,883) 18,492,229 - 5,351,605 22,630,807 2,105,053 14,307,062 165,065,470 - (9,634,019) (29,959,848) 95 Page 451 of 557 City of Waterloo, Iowa Schedule of Comparison Funds Statements (GAAP Basis) to Budgetary(Modified Cash) Basis (Continued) Required Supplementary Information Year Ended June 30, 2020 Governmental Enterprise Fund Fund Types Basis Types Basis Actual Amounts Actual Amounts Total Funds Other financing sources(uses): Transfers in $ 14,897,791 $ $ 14,897,791 Transfers out (14,897,791) (14,897,791) Bond premium 445,298 445,298 Proceeds from sale of capital assets 56,088 56,088 Proceeds from insurance 1,659,358 1,659,358 Issuance of long-term debt 17,675,000 17,675,000 Total other financing sources(uses) 19,835,744 19,835,744 Change in fund balance/net position (5,819,393) 5,329,308 (490,085) Balance,beginning of year 95,453,776 96,118,981 191,572,757 Balance,end of year $ 89,634,383 $ 101,448,289 $ 191,082,672 96 Page 452 of 557 Property Tax Collected for and Budgetary Remitted Other GAAP Basis to MET,Grout Conversion Budgetary Exceptions and Water Works Adjustments Basis $ $ $ 7,140,444 $ 22,038,235 - (7,140,444) (22,038,235) 17,448 462,746 37,950 94,038 (1,659,358) - 1,041,211 21,787,918 (562,749) 22,344,702 (10,196,768) (7,615,146) (74,664,328) 116,908,429 $ $ - $ (84,861,096) $ 109,293,283 97 Page 453 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of Employer Contributions for Waterloo Water Works Pension Plan Last Ten Fiscal Years 2019 2018 2017 2016 Actuarially determined contribution $ 563,701 $ 529,242 $ 505,125 $ 489,448 Contributions in relation to actuarially determined contribution 615,910 577,408 565,374 550,161 Contribution deficiency(excess) (52,209) (48,166) (60,249) (60,713) Covered payroll $ 979,376 $ 943,430 $ 1,047,371 $ 1,004,723 Contributions as a percentage of covered payroll 62.9% 61.2% 54.0% 54.8% 98 Page 454 of 557 2015 2014 2013 2012 2011 2010 $ 475,911 $ 481,861 $ 480,199 $ 423,689 $ 383,404 $ 357,677 540,043 570,419 538,658 473,114 445,212 396,550 (64,132) (88,558) (58,459) (49,425) (61,808) (38,873) $ 1,045,603 $ 1,064,651 $ 1,100,185 $ 1,105,893 $ 1,248,200 $ 1,306,209 51.6% 53.6% 49.0% 42.8% 35.7% 30.4% 99 Page 455 of 557 City of Waterloo, Iowa Required Supplementary Information Schedule of Changes in Net Pension Liability and Related Ratios for Waterloo Water Works Pension Plan 2020 2019 2018 Total pension liability Service cost $ 42,951 $ 46,090 $ 45,849 Interest 672,982 665,421 640,457 Difference between expected and actual experience (36,258) 76,594 (45,362) Changes in assumptions 325,945 (72,427) 225,356 Benefit payments including refunds (675,155) (560,887) (548,118) Change in total pension liability 330,465 154,791 318,182 Total pension liability, beginning of year 8,706,901 8,552,110 8,233,928 Total pension liability, end of year 9,037,366 8,706,901 8,552,110 Plan fiduciary net position Contributions, employer 563,701 529,242 507,287 Contributions, member 523209 48,166 58,087 Net investment income 1,594,221 (466,923) 821,539 Benefit payments including refunds (675,155) (560,887) (548,118) Change in plan fiduciary net position 1,534,976 (450,402) 838,795 Plan fiduciary net position, beginning of year 5,784,103 6,234,505 5,395,710 Plan fiduciary net position, end of year 7,319,079 5,784,103 6,234,505 Net pension liability, end of year $ 1,718,287 $ 2,922,798 $ 2,317,605 Plan fiduciary net position as a % of total pension liability 81.0% 66.4% 72.9% Covered payroll $ 810,194 $ 979,376 $ 943,430 Net pension liability as a % of covered payroll 212.1% 298.4% 245.7% Additional years will be added going forward as information becomes available. 100 Page 456 of 557 2017 2016 $ 53,886 $ 53,008 616,847 607,558 164,103 (28,037) 13,141 12,600 (541,494) (518,306) 306,483 126,823 7,927,445 7,800,622 8,233,928 7,927,445 489,448 481,000 60,713 59,043 281,674 (157,690) (541,494) (518,306) 290,341 (135,953) 5,105,369 5,241,322 5,395,710 5,105,369 $ 2,838,218 $ 2,822,076 65.5% 64.4% $ 1,047,371 $ 1,004,723 271.0% 280.9% 101 Page 457 of 557 City of Waterloo, Iowa Notes to Required Supplementary Information for Waterloo Water Works Pension Plan For the Year Ended December 31, 2019 Note 1: Valuation Date: Actuarially determined contributions rates are calculated as of December 31 of the current fiscal year. Note 2: Methods and assumptions used to determine contribution rates. Actuarial cost method Entry age cost method Amortization method Level dollar Remaining amortization period 20 years Asset valuation method Market value of assets Inflation 2.50% Annual pay increases 3.00% Investment rate of return 7.50% Retirement age 100% at age 62 Mortality rates 2020 IRS combined mortality 102 Page 458 of 557 City of Waterloo, Iowa Required Supplementary Information IPERS Schedule of the Waterloo Water Works' Proportionate Share of the Net Pension Liability Measurement Date June 30, 2019 2018 Water Work's proportion of the net pension liability 1.643700% 0.016820% Water Work's total proportionate share of the net pension liability $ 951,791 $ 1,064,406 Water Work's covered payroll $ 1,270,103 $ 1,251,971 Water Work's proportionate share of the net pension liability as a percentage of its covered payroll 75% 85% IPERS' net position as a percentage of the total pension liability 85.45% 83.62% Additional years will be added going forward as information becomes available. 103 Page 459 of 557 Measurement Date June 30, 2017 2016 2015 2014 0.015549% 0.014805% 0.014220% 0.012797% $ 1,035,776 $ 923,262 $ 706,956 $ 524,011 $ 1,079,261 $ 1,018,040 $ 885,398 $ 791,254 96% 91% 80% 61% 82.21% 81.82% 85.19% 87.61% 104 Page 460 of 557 City of Waterloo, Iowa Required Supplementary Information IPERS Schedule of Waterloo Water Works Contributions 2019 2018 2017 2016 Statutorily required contribution $ 119,662 $ 116,656 $ 111,801 $ 96,378 Contributions in relation to the Statutorily required contribution (119,662) (116,656) (111,801) (96,378) Contribution deficiency (excess) $ - $ - $ - $ - Water Work's covered payroll $ 1,267,605 $ 1,270,103 $ 1,251,971 $ 1,079,261 Contributions as a percentage of covered payroll 9.44% 9.18% 8.93% 8.93% Additional years will be added going forward as information becomes available. 105 Page 461 of 557 2015 2014 2013 2012 2011 2010 $ 90,911 $ 79,066 $ 70,659 $ 56,189 $ 43,676 $ 35,136 (90,911) (79,066) (70,659) (56,189) (43,676) (35,136) $ 1,018,040 $ 885,398 $ 791,254 $ 648,085 $ 541,214 $ 505,554 8.93% 8.93% 8.93% 8.67% 8.07% 6.95% 106 Page 462 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances General Fund Year Ended June 30, 2020 Public safety function Mayor Blackhawk emergency management agency Contractual services $ 94,496 Total activity and department 94,496 Police department Police operations Compensation and benefits 12,610,214 Contractual services 1,024,884 Commodities 231,917 Total activity 13,867,015 Police computer services Contractual services 83,711 Commodities 119,805 Total activity 203,516 Police grants Compensation and benefits 606,618 Contractual services 2,554 Commodities 62,017 Capital outlay 86,868 Total activity 758,057 Law enforcement programs Compensation and benefits 84,476 Contractual services 575,881 Commodities 292,296 Total activity 952,653 Police tobacco enforcement Compensation and benefits 3,926 Total activity 3,926 Public safety administration Compensation and benefits 102,502 Contractual services 1,144 Total activity 103,646 Total Department 15,888,813 107 Page 463 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Fire Department Fire protection Compensation and benefits 8,857,925 Contractual services 469,376 Commodities 88,412 Total activity 9,415,713 Fire amublance Compensation and benefits 1,807,370 Contractual services 864,594 Commodities 218,667 Total activity 2,890,631 Fire restricted programs Compensation and benefits 5,944 Contractual services 8,788 Commodities 1,441 Total activity 16,173 Hazmat regional training center Compensation and benefits 135,177 Contractual services 22,216 Commodities 261 Total activity 157,654 Total Department 12,480,171 Building inspection departmentt Builidng &housing safety Compensation and benefits 1,055,559 Contractual services 30,421 Commodities 35,257 Total activity 1,121,237 Building inspection chargebacks Contractual services 107,499 Total activity 107,499 Total Department 1,228,736 108 Page 464 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Central Garage Fire-garage parts&service Compensation and benefits 90,854 Commodities 71,167 Total activity 162,021 Ambulance-Garage Parts&Services Commodities 15,939 Total activity 15,939 Total Department 177,960 Miscellenous Contractual services (147,924) Total activity and department (147,924) Public safety function totals Compensation and benefits 25,360,565 Contractual services 3,137,640 Commodities 1,137,179 Capital Outlay 86,868 Function total $ 29,722,252 Public works function City engineer Sidewalk repair/construction Capital outlay $ 485,651 Total activity and department 485,651 Traffice Operations Parking Maintenance Compensation and benefits 17,160 Total activity and department 17,160 Central Garage Central Garage Compensation and benefits 753,075 Contractual services 13,714 Commodities 72,482 Total activity 839,271 Garage-motor pool service Commodities 415,304 Total activity 415,304 Total Department 1,254,575 109 Page 465 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Airport Commission Airport Administration Compensation and benefits 636,691 Contractual services 287,991 Commodities 65,773 Total activity and department 990,455 Building Inspection Parking Operations Contractual services 403,771 Commodities 26,151 Total activity and department 429,922 Miscellenous Contractual services (599) Total activity and department (599) Public works function totals Compensation and benefits 1,406,926 Contractual services 704,877 Commodities 579,710 Capital Outlay 485,651 Function Total $ 3,177,164 Health and social services function Human rights commission Human rights Compensation and benefits $ 240,071 Contractual services 9,686 Commodities 1,905 Total activity 251,662 EEOC Contract Compensation and benefits 10,000 Contractual services 8,798 Total activity 18,798 Total Department 270,460 Health and social services function totals Compensation and benefits 250,071 Contractual services 18,484 Commodities 1,905 Function Total $ 270,460 Mayor Fairview cemetary association Contractual services $ 50,000 Total activity and department 50,000 110 Page 466 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Culture and recreation function Cultural/Arts Commission Youth Pavilion Compensation and benefits 291,457 Contractual services 42,633 Commodities 20,878 Total activity 354,968 Center for the arts Compensation and benefits 512,211 Contractual services 79,024 Commodities 31,525 Total activity 622,760 RiverLoop event facilities Compensation and benefits 2,398 Contractual services 7,931 Commodities 1,626 Total activity 11,955 Cultural/arts grants&projects Compensation and benefits 17,562 Contractual services 34,334 Commodities 7,130 Capital outlay 2,198 Total activity 61,224 Total department 1,050,907 Library Library services Compensation and benefits 1,397,974 Contractual services 146,688 Commodities 218,546 Total activity 1,763,208 Library Enrich Compensation and benefits 9,083 Commodities 484 Total activity 9,567 111 Page 467 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Library Access Plus Commodities 2,981 Total activity 2,981 Library grants&projects Commodities 6,369 Capital outlay 8,306 Total activity 14,675 Library gift&memorial Contractual services 15,333 Commodities 22,080 Total activity 37,413 Iowa library services Commodities 2,746 Total activity 2,746 County library system Compensation and benefits 63,206 Commodities 1,932 Total activity 65,138 County open access Contractual services 834 Commodities 3,262 Total activity 4,096 Total department 1,899,824 Leisure services Leisure services-parks Compensation and benefits 1,862,657 Contractual services 226,485 Commodities 211,284 Total activity 2,300,426 Leisure services projects Contractual services 16,703 Commodities 72,910 Total activity 89,613 Downtown area maintenance Compensation and benefits 266,802 Contractual services 28,012 Commodities 23,068 Total activity 317,882 112 Page 468 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Golf courses Compensation and benefits 923,115 Contractual services 88,334 Commodities 128,544 Total activity 1,139,993 Golf course improvements Contractual services 7,051 Commodities 2,865 Total activity 9,916 SportsPlex Compensation and benefits 753,348 Contractual services 293,572 Commodities 139,424 Total activity 1,186,344 Sports&youth services Compensation and benefits 427,539 Contractual services 11,335 Commodities 80,065 Total activity 518,939 Young arena Compensation and benefits 451,918 Contractual services 167,841 Commodities 144,690 Total activity 764,449 Miscellenous Contractual services (10,922) Total activity and department (10,922) Culture and recreation function totals Compensation and benefits 6,979,270 Contractual services 1,205,188 Commodities 1,122,409 Capital Outlay 10,504 Function total $ 9,317,371 113 Page 469 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Community and economic development function Mayor Iowa Northland Council of Governments Contractual services $ 34,203 Total activity 34,203 Tourism promoiton Contractual services 212,254 Total activity 212,254 Tourism promotion -discretionary Contractual services 55,020 Total activity 55,020 Five Sullivans Convention Center-operations Contractual services 465,000 Commodities 61,642 Capital outlay 359,809 Total activity 886,451 Waterloo Convention &Visitors Bureau Contractual services 492,733 Total activity 492,733 Total department 1,680,661 Planning &zoning Planning&zoning Compensation and benefits 654,223 Contractual services 15,490 Commodities 3,104 Total activity 672,817 City property management Contractual services 130,375 Total activity 130,375 Economic development Compensation and benefits 110,348 Total activity 110,348 Total department 913,540 114 Page 470 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Building Inspections Five Sullivans Convention Center-maintenance Compensation and benefits $ 93,265 Contractual services 109,089 Commodities 11,252 Capital outlay 13,095 Total activity and department 226,701 Community Development Block grant administration Commodities 3,812 Total activity 3,812 LHAP-Housing Pool Contractual services 14 Total activity 14 Total department 3,826 Miscellaneous Contractual services 2,986 Total activity 2,986 Community and economic development totals Compensation and benefits 857,836 Contractual services 1,517,164 Commodities 79,810 Capital Outlay 372,904 Function total $ 2,827,714 General Government function Mayor Mayor's office Compensation and benefits $ 281,190 Contractual services 13,459 Commodities 1,004 Total activity 295,653 115 Page 471 of 557 City of Waterloo, Iowa Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Mayor Restricted Projects. Contractual services 60,000 Total activity 60,000 Administrative SVCS/MIS Compensation and benefits 250,161 Contractual services 140,076 Commodities 44,644 Total activity 434,881 Communications Contractual services 5,306 Commodities 87 Total activity 5,393 Total department 795,927 City Council City Council Compensation and benefits 74,305 Contractual services 2,578 Total activity and department 76,883 City Clerk and Finance Electronic media Compensation and benefits 125,922 Contractual services 308 Commodities 4,110 Total activity 130,340 City Clerk& Finance Compensation and benefits 908,691 Contractual services 147,157 Commodities 144,151 Total activity 1,199,999 Liability insurance Compensation and benefits 58,084 Contractual services 1,991,120 Total activity 2,049,204 Life/disability insurance Compensation and benefits 5,345 Contractual services 328 Total activity 5,673 Self-funded health insurance Contractual services 2,936,878 Total activity 2,936,878 Self funded workers Contractual services 892,250 Total activity 892,250 116 Page 472 of 557 Schedule of Revenues, Expenditures and Changes in Fund Balances (Continued) General Fund Year Ended June 30, 2020 Printing Contractual services 26,669 Total activity 26,669 Total department 7,241,013 City Attorney City Attorney Compensation and benefits 181,287 Contractual services 137,245 Commodities 6,519 Total activity and department 325,051 Human resources Employee assistance program Compensation and benefits 13,275 Total activity 13,275 Human resources Compensation and benefits 405,416 Contractual services 31,754 Commodities 2,480 Total activity 439,650 Safety and wellness Compensation and benefits 562 Commodities 7,239 Total activity 7,801 Total department 460,726 Building inspection Facilities maintenance Compensation and benefits 291,767 Contractual services 189,288 Commodities 39,594 Total activity 520,649 Facilities restricted project Contractual services 73 Commodities 1,143 Total activity 1,216 Veterans Memorial Hall Contractual services 6,618 Total activity 6,618 Total department 528,483 Miscellenous Contractual services 52,122 Total activity and department 52,122 General government totals Compensation and benefits 2,596,005 Contractual services 6,633,229 Commodities 250,971 Function total $ 9,480,205 117 Page 473 of 557 City of Waterloo, Iowa Combining Balance Sheet Nonmajor Governmental Funds June 30, 2020 Special Revenue Capital Projects Total Assets Cash and cash equivalents $ 14,244,677 $ 28,986,828 $ 43,231,505 Receivables: Customer accounts 22,502 - 22,502 Property taxes: Delinquent 12,486 12,486 Succeeding year 609,009 - 609,009 Accrued interest 12,481 191 12,672 Due from other governments: Federal 572,517 - 572,517 Iowa 3,698,750 - 3,698,750 Other 60,969 966,923 1,027,892 Inventories and prepaids 16,980 - 16,980 Restricted assets,cash and cash equivalents 2,877,573 2,877,573 Advances to other funds 21,423 - 21,423 Total assets $ 22,149,367 $ 29,953,942 $ 52,103,309 Liabilities,Deferred Inflows of Resources and Fund Balances Liabilities: Accounts payable $ 956,309 $ 1,860,151 $ 2,816,460 Retainages payable 67,564 191,489 259,053 Accrued liabilities 117,214 - 117,214 Due to other funds 1,038,150 2,157,147 3,195,297 Compensated absences 9,032 - 9,032 Payable from restricted assets 33,926 33,926 Unearned revenue 420,556 - 420,556 Total liabilities 2,642,751 4,208,787 6,851,538 Deferred inflows of resources: Unavailable revenue-property taxes 621,495 - 621,495 Unavailable revenue-local option sales tax 1,390,205 - 1,390,205 Unavailable revenue-intergovernmental and other 1,289,143 966,923 2,256,066 Total deferred inflows of resources 3,300,843 966,923 4,267,766 Fund Balances: Nonspendable 16,980 - 16,980 Restricted 14,964,741 27,428,302 42,393,043 Assigned 2,248,562 - 2,248,562 Unassigned (1,024,510) (2,650,070) (3,674,580) Total fund balances 16,205,773 24,778,232 40,984,005 Total liabilities,deferred inflows of resources and fund balances $ 22,149,367 $ 29,953,942 $ 52,103,309 118 Page 474 of 557 City of Waterloo, Iowa Nonmajor Special Revenue Funds June 30, 2020 Special Revenue Funds account for the proceeds of specific revenue sources that are legally or contractually restricted for particular purposes. The proceeds are segregated into individual funds to ensure that expenditures are made exclusively for qualified purposes, as follows: Nonmajor: Local Option Tax Fund: This fund is used to account for resources provided from a 1% sales tax approved by the citizens of Waterloo which is restricted for the construction, reconstruction and repair of City streets. Library Tax Levy Fund: This fund is used to account for property taxes levied, as passed by local referendum, to be used to increase the hours of operation of the Waterloo Public Library. Community Development Block Grant Fund: This fund accounts for revenue received under the Community Development Block Grant federal entitlement. Housing Programs Fund: This fund is used to account for resources received to provide housing assistance, primarily Federal Section 8 and Ridgeway Towers. Grants Fund: This fund is used to account for resources received for various federal and Iowa funded projects which are not accounted for elsewhere and are restricted to specific programs. Federal Aviation Agency Projects Fund: This fund is used to account for resources from the Federal Aviation Agency and Passenger Facility Charges restricted for airport development. Iowa Reinvestment District Fund: This fund is used to account for resources received from the State of Iowa to reinvest sales tax monies to improve the quality of life for the City of Waterloo's citizens and substantially benefit the community, region and state. 119 Page 475 of 557 City of Waterloo, Iowa Combining Balance Sheet Nonmajor Special Revenue Funds June 30, 2020 Community Local Option Library Development Sales Tax Tax Levy Block Grant Assets Cash and cash equivalents $ 11,166,037 $ 531,537 $ 700 Receivables: Customer accounts - - - Property taxes: Delinquent - 12,486 Succeeding year - 609,009 - Accrued interest 132 8 12,315 Due from other governments: Federal - - 271,646 Iowa 2,231,744 - - Other 55,328 5,641 Inventories and prepaids - - Restricted cash and cash equivalents - - Advances to other funds 13,598 7,825 - Total assets $ 13,466,839 $ 1,166,506 $ 284,661 Liabilities,Deferred Inflows of Resources and Fund Balances(Deficit) Liabilities: Accounts payable $ 545,236 $ $ 36,238 Retainages payable 65,298 2,204 Accrued liabilities 43,284 23,614 24,043 Due to other funds - - 194,578 Compensated absences - 2,793 2,626 Payable from restricted assets - - - Unearned revenue - - - Totalliabilities 653,818 26,407 259,689 Deferred inflows of resources: Unavailable revenue-property taxes - 621,495 - Unavailable revenue-local option sales tax 1,390,205 - - Unavailable revenue-intergovernmental - - 89,882 Total deferred inflows of resources 1,390,205 621,495 89,882 Fund balances(deficit): Nonspendable - - - Restricted 9,268,407 425,857 Assigned 2,154,409 92,747 Unassigned - - (64,910) Total fund balances(deficit) 11,422,816 518,604 (64,910) Total liabilities,deferred inflows of resources and fund balances(deficit) $ 13,466,839 $ 1,166,506 $ 284,661 120 Page 476 of 557 Special Revenue Federal Aviation Iowa Housing Programs Grants Agency Projects Reinvestment District Total $ 2,515,996 $ $ $ 30,407 $ 14,244,677 22,502 - 22,502 - 12,486 - 609,009 26 12,481 19,126 281,745 - 572,517 - 1,350,161 49,326 67,519 3,698,750 - - - - 60,969 16,980 - - 16,980 2,515,024 55,275 307,274 2,877,573 - - - - 21,423 $ 5,089,654 $ 1,405,436 $ 638,345 $ 97,926 $ 22,149,367 $ 27,387 $ 338,628 $ 8,820 $ - $ 956,309 - 62 - - 67,564 26,273 - - - 117,214 - 306,587 536,985 - 1,038,150 3,613 - - - 9,032 33,926 - - 33,926 156,067 264,489 - - 420,556 247,266 909,766 545,805 - 2,642,751 - - - - 621,495 - - - 1,390,205 866,161 319,100 14,000 1,289,143 - 866,161 319,100 14,000 3,300,843 16,980 - - 16,980 4,825,408 55,275 307,274 82,520 14,964,741 - - - 1,406 2,248,562 - (425,766) (533,834) - (1,024,510) 4,842,388 (370,491) (226,560) 83,926 16,205,773 $ 5,089,654 $ 1,405,436 $ 638,345 $ 97,926 $ 22,149,367 121 Page 477 of 557 City of Waterloo, Iowa Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) Nonmajor Special Revenue Funds Year Ended June 30, 2020 Community Local Option Library Development Sales Tax Tax Levy Block Grant Revenues: Property taxes $ - $ 628,045 $ Othertaxes 10,270,870 23,036 Investment income 88,875 3,670 Rent - - Intergovernmental 1,842,902 Charges for services - 56,261 Miscellaneous 16,128 - - Total revenues 10,375,873 654,751 1,899,163 Expenditures: Current: Public works 10,187,884 - - Culture and recreation - 570,159 - Community and economic development - - 1,516,407 General government 50,022 2,176 Capital outlay - - - Total expenditures 10,237,906 570,159 1,518,583 Excess of revenues over expenditures 137,967 84,592 380,580 Other financing uses,transfers out - - - Total other financing uses - - - Change in fund balance(deficit) 137,967 84,592 380,580 Fund balances(deficit),beginning of year 11,284,849 434,012 (445,490) Fund balances(deficit),end of year $ 11,422,816 $ 518,604 $ (64,910) 122 Page 478 of 557 Special Revenue Federal Aviation Iowa Housing Programs Grants Agency Projects Reinvestment District Total $ - $ $ - $ $ 628,045 - - 10,293,906 19,915 2,542 1,001 116,003 185,792 - - 185,792 5,903,966 1,468,485 85,207 233,415 9,533,975 51,452 - 67,170 - 174,883 3,373 - - - 19,501 6,164,498 1,468,485 154,919 234,416 20,952,105 - 560,588 412,435 - 11,160,907 - 19,302 - 589,461 6,073,884 102,636 - - 7,692,927 - 2,192 490 54,880 6,073,884 684,718 412,435 490 19,498,175 90,614 783,767 (257,516) 233,926 1,453,930 - - (216,028) (216,028) - - (216,028) (216,028) 90,614 783,767 (257,516) 17,898 1,237,902 4,751,774 (1,154,258) 30,956 66,028 14,967,871 $ 4,842,388 $ (370,491) $ (226,560) $ 83,926 $ 16,205,773 123 Page 479 of 557 City of Waterloo, Iowa Capital Projects Funds June 30, 2020 Capital Projects Funds account for the City's financial resources used for the acquisition or construction of major nonproprietary capital facilities. The City of Waterloo has capital projects funds as follows: Nonmajor: June 2013 GO Bonds Fund: This fund is used to account for proceeds from the 2013 general obligation bond sale until expended for the restricted purposes. June 2014 GO Bonds Fund: This fund is used to account for proceeds from the 2014 general obligation bond sale until expended for the restricted purposes. June 2015 GO Bonds Fund: This fund is used to account for proceeds from the 2015 general obligation bond sale until expended for the restricted purposes. June 2016 GO Bonds Fund: This fund is used to account for proceeds from the 2016 general obligation bond sale until expended for the restricted purposes. June 2017 GO Bonds Fund: This fund is used to account for proceeds from the 2017 general obligation bond sale until expended for the restricted purposes. June 2018 GO Bonds Fund: This fund is used to account for proceeds from the 2018 general obligation bond sale until expended for the restricted purposes. June 2019 GO Bonds Fund: This fund is used to account for proceeds from the 2019 general obligation bond sale until expended for the restricted purposes. June 2020 GO Bonds Fund: This fund is used to account for proceeds from the 2020 general obligation bond sale until expended for the restricted purposes. Capital Improvements Funds: This fund is used to account for the use of resources on governmental capital projects not accounted for in other capital projects funds and are restricted for specific projects. 124 Page 480 of 557 City of Waterloo, Iowa Combining Balance Sheet Capital Projects Funds June 30, 2020 June 2015 June 2016 June 2017 GO Bonds GO Bonds GO Bonds Assets Cash and cash equivalents $ $ 741,405 $ 2,134,532 Receivables,other - - Accrued interest 7 17 Total assets $ $ 741,412 $ 2,134,549 Liabilities, Deferred Inflows of Resources and Fund Balances(Deficit) Liabilities: Accounts payable $ $ 16,175 $ 543,423 Retainages payable 14,886 8,255 Due to other funds - - Total liabilities 31,061 551,678 Deferred inflows of resources, unavailable revenue—other - - Fund balances(deficit): Restricted 710,351 1,582,871 Unassigned - - Total fund balances(deficit) 710,351 1,582,871 Total liabilities,deferred inflows of resources and fund balances(deficit) $ $ 741,412 $ 2,134,549 125 Page 481 of 557 June 2018 June 2019 June 2020 Capital GO Bonds GO Bonds GO Bonds Improvements $ 4,600,946 $ 8,182,576 $ 13,327,369 $ - - - - 966,923 40 54 73 $ 4,600,986 $ 8,182,630 $ 13,327,442 $ 966,923 $ 200,025 $ 515,431 $ 183,765 $ 401,332 69,164 63,045 8,268 27,871 - - - 2,157,147 269,189 578,476 192,033 2,586,350 - - - 966,923 4,331,797 7,604,154 13,135,409 63,720 - - (2,650,070) 4,331,797 7,604,154 13,135,409 (2,586,350) $ 4,600,986 $ 8,182,630 $ 13,327,442 $ 966,923 126 Page 482 of 557 City of Waterloo, Iowa Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) Capital Projects Funds Year Ended June 30, 2020 June 2015 June 2016 June 2017 GO Bonds GO Bonds GO Bonds Revenues: Investment income $ 7,910 $ 25,255 $ 44,367 Miscellaneous - - - Total revenues 7,910 25,255 44,367 Expenditures: General government - - - Debt service: Principal - - Interest expense - 1,487 - Capital outlay 907,984 2,220,683 3,634,874 Total expenditures 907,984 2,222,170 3,634,874 Revenues under expenditures (900,074) (2,196,915) (3,590,507) Other financing sources: Transfers in - Bond premium Issuance of long-term debt Total other financing sources Net change in fund balances(deficit) (900,074) (2,196,915) (3,590,507) Fund balances(deficit),beginning of year 900,074 2,907,266 5,173,378 Fund balances(deficit),end of year $ - $ 710,351 $ 1,582,871 127 Page 483 of 557 June 2018 June 2019 June 2020 Capital GO Bonds GO Bonds GO Bonds Improvements Total $ 55,345 $ 136,279 $ 73 $ - $ 269,229 - - - 1,160,398 1,160,398 55,345 136,279 73 1,160,398 1,429,627 - - - 9,140 9,140 - - 901,429 901,429 - 13 150,598 98,571 250,669 2,308,750 2,696,975 143,626 5,278,612 17,191,504 2,308,750 2,696,988 294,224 6,287,752 18,352,742 (2,253,405) (2,560,709) (294,151) (5,127,354) (16,923,115) - 4,266,272 4,266,272 399,560 - 399,560 13,030,000 - 13,030,000 13,429,560 4,266,272 17,695,832 (2,253,405) (2,560,709) 13,135,409 (861,082) 772,717 6,585,202 10,164,863 - (1,725,268) 24,005,515 $ 4,331,797 $ 7,604,154 $ 13,135,409 $ (2,586,350) $ 24,778,232 128 Page 484 of 557 City of Waterloo, Iowa Fiduciary Funds June 30, 2020 Fiduciary Funds account for assets held by a governmental unit in a trustee capacity or as an agent for individuals, private organizations, other governmental units and/or other funds. The City of Waterloo has the following fiduciary fund: Agency Fund: This fund is used to account for property taxes collected on behalf of the Metropolitan Transit Agency, Grout Museum District, Water Works kill water assessments and building permits passed through to Black Hawk County. 129 Page 485 of 557 City of Waterloo, Iowa Statement of Changes in Assets and Liabilities Agency Fund Year Ended June 30, 2020 Balance Balance June 30, June 30, 2019 Additions Deletions 2020 Assets,cash $ $ 2,105,053 $ 2,105,053 $ Liabilities,due to private entities $ $ 2,105,053 $ 2,105,053 $ - 130 Page 486 of 557 City of Waterloo, Iowa Statistical Section This part of the City of Waterloo's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health. Contents Paqe Financial Trends These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. 132 Revenue Capacity These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax. 137 Debt Capacity These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future. 141 Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. 146 Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the city provides and the activities it performs. 148 Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The city implemented GASB Statement 34 in fiscal 2003; therefore, schedules presenting government-wide information include information beginning in that year. 131 Page 487 of 557 City of Waterloo,Iowa Net Position by Component Last Ten Fiscal Years (accrual basis of accounting) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Governmental activities Net investment in capital assets $243,084,776 $250,819,314 $264,695,106 $273,871,470 $307,415,275 $316,701,068 $306,360,558 $313,405,227 $320,748,412 $338,162,674 Restricted 28,098,845 31,552,558 30,823,956 30,579,471 30,438,501 20,032,995 55,182,022 52,436,491 53,863,633 44,923,907 Unrestricted 9,823,688 9,694,131 7,214,587 8,998,045 (31,681,588) (23,683,497) (31,089,693) (40,527,523) (43,479,555) (45,440,432) Total governmental activities net position $281,007,309 $292,066,003 $302,733,649 $313,448,986 $306,172,188 $313,050,566 $330,452,887 $325,314,195 $331,132,490 $337,646,149 Business-type activities Net investment in capital assets $ 67,576,579 $ 71,243,134 $ 74,508,694 $ 79,920,865 $ 78,270,214 $ 79,522,665 $ 79,180,253 $ 82,504,631 $ 81,369,121 $ 87,857,186 Restricted 3,170,694 1,655,694 1,383,659 1,310,099 727,235 672,515 672,515 672,515 47,826 19,491 Unrestricted 13,086,820 14,659,699 14,202,857 11,445,832 11,638,646 12,025,408 14,478,547 9,375,653 14,702,034 13,571,612 Total business-type activities net position $ 83,834,093 $ 87,558,527 $ 90,095,210 $ 92,676,796 $ 90,636,095 $ 92,220,588 $ 94,331,315 $ 92,552,799 $ 96,118,981 $101,448,289 Primary government Net investment in capital assets $310,661,355 $322,062,448 $339,203,800 $353,792,335 $385,685,489 $396,223,733 $385,540,811 $395,909,858 $402,117,533 $426,019,860 Restricted 31,269,539 33,208,252 32,207,615 31,889,570 31,165,736 20,705,510 55,854,537 53,109,006 53,911,459 44,943,398 Unrestricted 22,910,508 24,353,830 21,417,444 20,443,877 (20,042,942) (11,658,089) (16,611,146) (31,151,870) (28,777,521) (31,868,820) Total primary government net position $364,841,402 $379,624,530 $392,828,859 $406,125,782 $396,808,283 $405,271,154 $424,784,202 $417,866,994 $427,251,471 $439,094,438 132 Page 488 of 557 City of Waterloo,Iowa Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) (Page 1 of 2) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Expenses Governmental activities: Public safety $ 29,629,282 $ 30,037,249 $ 31,913,280 $ 31,773,269 $ 25,988,767 $ 34,120,160 $ 33,735,948 $ 20,828,929 $ 33,071,755 $ 38,539,492 Public works 23,276,707 23,297,561 24,938,888 28,911,525 29,570,277 29,670,192 35,579,527 34,150,050 27,415,746 27,453,883 Health and social services 257,618 278,589 299,282 368,173 325,607 295,088 381,203 369,832 279,470 265,757 Culture and recreation 10,080,005 10,515,120 10,491,266 11,315,704 11,676,287 11,950,688 15,012,599 12,667,184 12,573,777 11,297,723 Community and economic development 16,675,218 16,138,333 14,129,616 12,910,299 13,190,672 13,753,669 12,860,289 17,417,572 11,593,102 11,778,352 General government 4,860,959 4,219,355 3,714,993 2,749,672 4,869,696 5,247,593 10,421,434 10,174,531 9,049,085 9,792,001 Interest on long-term debt 2,639,047 2,459,710 2,680,614 2,349,054 2,208,744 2,048,517 2,175,284 2,385,499 2,452,792 2,413,402 Total governmental activities expenses 87,418,836 86,945,917 88,167,939 90,377,696 87,830,050 97,085,907 110,166,284 97,993,597 96,435,727 101,540,610 Business-type activities: Sanitary sewer 10,437,723 9,730,465 10,033,041 9,811,929 12,518,569 14,018,836 13,635,403 13,107,645 12,254,389 12,287,197 Sanitation 3,408,358 3,680,500 3,640,314 3,215,663 3,612,307 3,921,263 4,050,778 4,166,465 4,196,226 4,963,445 Total business-type activities expenses 13,846,081 13,410,965 13,673,355 13,027,592 16,130,876 17,940,099 17,686,181 17,274,110 16,450,615 17,250,642 Total primary government expenses $101,264,917 $100,356,882 $101,841,294 $103,405,288 $103,960,926 $115,026,006 $127,852,465 $115,267,707 $112,886,342 $118,791,252 Program Revenue Governmental activities: Charges for services: Public safety $ 3,874,275 $ 3,602,246 $ 3,683,489 $ 3,800,273 $ 4,018,731 $ 4,325,957 $ 4,231,224 $ 4,410,854 $ 4,460,965 $ 7,036,405 Public works 1,984,786 2,224,870 2,192,414 2,802,925 2,498,057 1,284,289 2,474,497 3,641,744 2,451,369 2,337,247 Culture and recreation 2,339,044 2,592,204 2,492,426 3,010,899 3,361,891 3,645,647 3,538,243 3,503,643 3,370,198 3,213,303 Other activities 1,229,991 1,268,316 1,489,631 1,531,761 1,667,019 769,733 1,574,497 1,284,986 1,438,591 1,351,116 Operating grants and contributions 16,376,376 16,603,449 14,967,188 11,938,221 11,335,064 18,581,010 13,138,910 11,617,786 12,380,601 12,158,925 Capital grants and contributions 9,832,416 10,720,735 9,364,734 12,668,122 39,116,737 9,065,137 35,704,168 12,757,084 8,651,622 7,151,415 Total governmental activities program revenue 35,636,888 37,011,820 34,189,882 35,752,201 61,997,499 37,671,773 60,661,539 37,216,097 32,753,346 33,248,411 Business-type activities: Charges for services: Sanitary sewer 13,283,908 13,147,754 12,285,502 12,845,301 12,661,602 14,277,752 15,235,503 13,208,176 14,802,101 16,657,811 Sanitation 3,446,332 3,572,238 3,615,787 3,609,500 3,585,270 3,650,271 3,820,281 3,738,070 3,747,590 5,044,236 Operating grants and contributions: Sanitary sewer 125,802 54,041 - - 24,236 1,892 206,145 37,055 - 2,005 Sanitation 399,000 215,584 273,869 272,755 274,324 273,624 290,513 273,624 273,624 273,857 Capital grants and contributions: Sanitary sewer 81,302 82,443 - - - 1,271,776 192,977 145,656 310,250 356,837 Sanitation 560 13,585 Total business-type activities program revenue 17,336,344 17,072,620 16,188,743 16,727,556 16,545,432 19,475,315 19,745,419 17,402,581 19,133,565 22,334,746 Total primary government program revenue $ 52,973,232 $ 54,084,440 $ 50,378,625 $ 52,479,757 $ 78,542,931 $ 57,147,088 $ 80,406,958 $ 54,618,678 $ 51,886,911 $ 55,583,157 Net Governmental activities $ (51,781,948) $ (49,934,097) $ (53,978,057) $ (54,625,495) $ (25,832,551) $ (59,414,134) $ (49,504,745) $ (60,777,500) $ (63,682,381) $ (68,292,199) Business-type activities 3,490,263 3,661,655 2,515,388 3,699,964 414,556 1,535,216 2,059,238 128,471 2,682,950 5,084,104 Total primary government net expense $ (48,291,685) $ (46,272,442) $ (51,462,669) $ (50,925,531) $ (25,417,995) $ (57,878,918) $ (47,445,507) $ (60,649,029) $ (60,999,431) $ (63,208,095) 133 Page 489 of 557 City of Waterloo,Iowa Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) (Page 2 of 2) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 General Revenue and Other Changes in Net Position Governmental activities: Taxes: Property taxes $ 41,028,851 $ 42,822,680 $ 45,536,650 $ 44,585,915 $ 45,514,979 $ 46,327,997 $ 46,530,686 $ 47,404,667 $ 47,722,089 $ 49,332,480 Other taxes 14,566,088 14,844,322 15,142,297 16,745,434 17,471,721 17,554,079 17,260,380 17,239,619 18,757,207 19,039,780 Investment earnings 152,078 54,485 45,578 117,515 180,123 187,046 339,895 842,018 1,468,222 978,205 Miscellaneous 2,879,152 3,315,471 3,925,918 2,748,468 1,108,633 2,034,957 2,741,240 4,592,600 2,186,481 5,455,393 Gain on sale of assets - - - - - 188,433 34,865 - - - Transfers 70,231 (44,167) (4,740) (2,035) (633,323) Total governmental activities 58,696,400 60,992,791 64,645,703 64,197,332 64,273,421 66,292,512 66,907,066 70,078,904 69,500,676 74,805,858 Business-type activities: Investment earnings 21,055 18,612 16,555 25,122 39,714 49,277 51,489 104,439 246,059 205,504 Gain(loss)on sale of assets - - - - 1,711 - - 46,298 3,850 39,700 Transfers (70,231) 44,167 4,740 2,035 633,323 Total business-type activities (49,176) 62,779 21,295 25,122 43,460 49,277 51,489 150,737 883,232 245,204 Total primary government $ 58,647,224 $ 61,055,570 $ 64,666,998 $ 64,222,454 $ 64,316,881 $ 66,341,789 $ 66,958,555 $ 70,229,641 $ 70,383,908 $ 75,051,062 Changes in Net Position Governmental activities $ 6,914,452 $ 11,058,694 $ 10,667,646 $ 10,715,337 $ 38,440,870 $ 6,878,378 $ 17,402,321 $ 9,301,404 $ 5,818,295 $ 6,513,659 Business-type activities 3,441,087 3,724,434 2,536,683 2,581,586 458,016 1,584,493 2,110,727 279,208 3,566,182 5,329,308 Total primary government $ 10,355,539 $ 14,783,128 $ 13,204,329 $ 13,296,923 $ 38,898,886 $ 8,462,871 $ 19,513,048 $ 9,580,612 $ 9,384,477 $ 11,842,967 134 Page 490 of 557 City of Waterloo,Iowa Fund Balances-Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 General Fund Nonspendable $ 310,432 $ 326,276 $ 322,077 $ 392,741 $ 323,781 $ 267,413 $ 197,324 $ 528,775 $ 392,145 $ 584,290 Restricted 3,602,691 3,438,392 5,497,065 8,667,499 9,109,347 10,390,434 8,565,653 7,839,825 6,384,873 5,888,663 Committed 662,415 - - 36,595 - - - 33,004 154,511 229,791 Assigned 4,878,877 4,802,837 5,318,721 4,430,460 4,848,307 5,007,033 5,410,593 5,902,856 5,465,413 5,633,149 Unassigned 8,417,600 9,644,699 8,907,668 10,184,876 10,224,959 9,836,132 9,546,862 9,479,091 10,277,115 11,188,047 Total general fund $ 17,872,015 $ 18,212,204 $ 20,045,531 $ 23,712,171 $ 24,506,394 $ 25,501,012 $ 23,720,432 $ 23,783,551 $ 22,674,057 $ 23,523,940 All Other Governmental Funds Nonspendable $ 208,100 $ 297,516 $ 233,192 $ 466,165 $ 298,880 $ 290,117 $ 261,770 $ 131,211 $ 219,283 $ 140,959 Restricted 39,357,168 42,286,946 42,907,706 28,709,385 38,887,421 47,673,892 75,498,203 66,401,834 73,478,029 66,733,675 Assigned 2,322,606 2,332,997 2,370,221 80,148 2,396,279 2,424,601 2,458,279 2,549,694 2,763,872 2,910,389 Unassigned (5,150,315) (7,161,884) (4,608,778) (1,929,863) (5,711,850) (4,495,025) (3,347,626) (3,091,717) (3,681,465) (3,674,580) Total all other governmental funds $ 36,737,559 $ 37,755,575 $ 40,902,341 $ 27,325,835 $ 35,870,730 $ 45,893,585 $ 74,870,626 $ 65,991,022 $ 72,779,719 $ 66,110,443 GASB Statement No.54,Fund Balance Reporting and Governmental Fund Type Definitions,implemented in fiscal year 2011. 135 Page 491 of 557 City of Waterloo,Iowa Changes in Fund Balances-Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Revenue Property taxes $ 41,013,565 $ 42,864,091 $ 45,485,229 $ 44,623,905 $ 45,440,607 $ 46,259,411 $ 46,530,686 $ 47,404,667 $ 47,720,396 $ 48,086,079 Other taxes 14,703,052 15,460,718 14,683,459 16,946,689 17,599,304 17,309,079 17,541,380 17,239,619 18,764,207 18,227,575 Licenses and permits 1,236,912 1,119,886 1,128,513 1,350,599 1,413,739 1,491,131 1,543,716 1,364,662 1,454,547 1,466,645 Investment income 152,078 54,485 45,578 117,515 183,938 187,047 339,895 842,018 1,468,222 978,205 Rent* 1,094,271 1,186,419 1,191,376 1,263,682 1,293,559 1,235,525 1,257,433 1,219,786 1,273,336 1,350,265 Intergovernmental 30,092,432 25,596,988 27,797,797 23,425,271 28,647,425 26,670,622 43,647,665 20,141,757 24,374,718 19,595,972 Charges for services* 6,397,007 6,748,285 6,512,462 6,894,308 7,371,370 8,142,707 8,025,850 8,088,333 7,923,398 10,018,667 Interfund charges for service 2,134,553 1,935,000 1,935,000 1,935,000 1,935,000 1,935,000 2,185,000 2,255,000 2,180,000 2,180,000 Special assessments 47,171 93,870 124,467 139,408 127,266 138,434 133,943 176,382 201,637 126,258 Miscellaneous 3,292,228 3,702,763 4,503,173 3,425,567 2,760,949 2,032,729 1,765,900 3,249,040 2,776,159 3,689,350 Total revenue 100,163,269 98,762,505 103,407,054 100,121,944 106,773,157 105,401,685 122,971,468 101,981,264 108,136,620 105,719,016 Expenditures Current: Public safety 27,686,410 29,272,717 30,517,147 30,865,364 30,588,630 31,380,988 30,518,380 30,733,487 32,108,023 34,004,492 Public works 19,761,835 25,565,737 26,286,055 29,009,814 34,515,685 26,664,570 19,526,031 22,895,182 14,212,521 22,136,849 Health and social services 325,730 346,952 370,275 365,847 407,060 375,769 379,958 365,193 276,922 270,460 Culture and recreation 8,960,633 9,396,914 9,134,554 9,835,758 10,633,238 10,837,983 10,616,332 10,580,629 10,353,767 9,906,832 Community and economic development 15,740,405 13,794,104 13,555,391 12,966,402 11,783,311 13,483,447 12,265,460 10,508,576 11,442,804 12,583,363 General government 5,623,650 4,956,104 3,980,405 2,468,932 5,459,817 5,671,640 10,042,300 8,894,390 8,483,284 9,627,947 Debt service Principal 9,565,662 8,623,207 8,708,554 8,886,944 9,659,890 11,314,503 9,698,561 11,336,261 10,379,792 14,523,780 Interest and fees 2,623,038 2,536,705 2,377,108 2,300,105 2,023,366 2,169,997 2,268,663 2,514,761 2,502,968 2,661,551 Capital outlay 11,792,357 14,140,916 9,646,195 14,033,868 11,855,746 12,835,209 19,625,850 23,921,255 23,189,451 25,658,879 Total expenditures 102,079,720 108,633,356 104,575,684 110,733,034 116,926,743 114,734,106 114,941,535 121,749,734 112,949,532 131,374,153 Revenue over(under)expenditures (1,916,451) (9,870,851) (1,168,630) (10,611,090) (10,153,586) (9,332,421) 8,029,933 (19,768,470) (4,812,912) (25,655,137) Other financing sources(uses) Transfers in 13,368,149 14,206,860 12,765,878 11,006,208 10,276,970 14,882,427 11,857,853 13,154,342 11,910,365 14,897,791 Transfers out (13,297,918) (14,206,860) (12,765,878) (11,006,208) (10,276,970) (14,882,427) (11,857,853) (13,154,342) (11,910,365) (14,897,791) Insurance proceeds 138,157 19,968 173,397 356,454 1,400 766,470 1,624,380 1,112,624 - 1,659,358 Proceeds from sale of assets 221,807 - 71,014 47,937 (6,168) 335,618 95,564 206,006 171,426 56,088 Refunding bonds issued 5,500,000 4,200,000 2,630,000 8,670,000 - - 1,425,000 - - Payment to refunded bond escrow agent (5,586,483) - (6,744,723) (8,806,014) - - (2,040,000) - - - Proceeds from debt issued 7,735,081 6,740,000 9,900,348 11,595,000 8,000,000 19,140,000 19,210,000 8,090,000 10,000,000 17,675,000 Bond discounts and premiums 353,883 269,088 118,687 205,713 129,606 107,806 276,585 118,355 320,689 445,298 Total other financing sources(uses) 8,432,676 11,229,056 6,148,723 12,069,090 8,124,838 20,349,894 19,166,529 10,951,985 10,492,115 19,835,744 Net change in fund balances $ 6,516,225 $ 1,358,205 $ 4,980,093 $ 1,458,000 $ (2,028,748) $ 11,017,473 $ 27,196,462 $ (8,816,485) $ 5,679,203 $ (5,819,393) Debt service as a percentage of noncapital expenditures 13.5% 11.8% 13.2% 12.3% 13.2% 13.2% 12.6% 14.2% 14.4% 16.3% 136 Page 492 of 557 City of Waterloo,Iowa Assessed and Taxable Value of Property Last Ten Fiscal Years For Fiscal Less: Total Taxable Assessment Year Military Total Taxable Total Total Value as a Date Ended Residential Commercial Industrial TIF Other Tax-Exempt Assessed Direct Assessed Percentage of January 1, June 30, Property Property Property Property Property Property Value Tax Rate Value Assessed Value 2009 2011 1,119,328,144 786,637,586 99,943,010 136,188,661 106,874,812 7,498,605 2,241,473,608 18.26406 3,566,368,445 62.85% 2010 2012 1,166,201,221 781,318,790 100,090,080 150,383,839 111,996,683 7,253,351 2,302,737,262 18.53335 3,747,030,046 61.45% 2011 2013 1,251,445,651 813,065,056 121,443,090 179,551,015 111,367,841 6,985,742 2,469,886,911 18.20505 3,738,165,467 66.07% 2012 2014 1,316,533,993 800,057,810 122,324,860 183,333,664 111,068,231 6,742,623 2,526,575,935 17.49319 3,762,106,346 67.16% 2013 2015 1,303,730,888 717,175,119 112,118,499 207,637,570 112,027,732 6,558,362 2,446,131,446 17.95159 3,629,362,635 67.40% 2014 2016 1,347,497,993 662,021,833 105,004,150 214,993,747 110,527,435 6,267,608 2,433,777,550 17.76370 3,656,417,436 66.56% 2015 2017 1,383,126,415 620,075,361 104,318,361 229,899,157 151,573,034 6,008,327 2,482,984,001 17.60522 3,770,142,165 65.86% 2016 2018 1,426,734,942 626,685,915 102,735,087 230,753,488 141,987,418 5,774,986 2,523,121,864 17.60000 3,797,591,542 66.44% 2017 2019 1,400,102,962 614,016,517 101,985,208 263,287,703 158,466,327 5,436,059 2,532,422,658 17.45595 3,858,553,457 65.63% 2018 2020 1,447,591,365 654,112,386 102,437,652 267,969,299 153,414,284 4,932,861 2,620,592,125 17.54799 3,945,324,830 66.42% Source:Black Hawk County Auditor. Notes: (1)Does not include tax-exempt property.Tax rates are per$1,000 of assessed value. (2)Property tax on machinery and equipment was phased out during the period FYE2001 through FYE2003. 137 Page 493 of 557 City of Waterloo, Iowa Property Tax Rates Direct and Overlapping Governments Last Ten Fiscal Years Overlapping Rates City of Waterloo Black Hawk County Schools Total Total Total Direct& Fiscal Operating Debt Total City Operating Debt County Operating Debt School Overlapping Year Millage Service Millage Millage Service Millage Millage Service Millage Other Rates 2011 14.92433 3.33973 18.26406 6.22972 0.44212 6.67184 15.43697 1.00000 16.43697 1.38794 42.76081 2012 15.16068 3.37267 18.53335 5.92415 0.67322 6.59737 15.28141 1.00000 16.28141 1.28109 42.69322 2013 15.03346 3.17159 18.20505 5.59849 0.64144 6.23993 14.80265 1.00000 15.80265 1.33770 41.58533 2014 14.39276 3.10043 17.49319 5.39234 0.62882 6.02116 13.12135 2.60683 15.72818 1.36950 40.61203 2015 14.74920 3.20239 17.95159 5.52447 0.59472 6.11919 13.28631 2.68895 15.97526 1.35851 41.40455 2016 14.50433 3.25937 17.76370 5.43985 1.30832 6.74817 12.92607 2.69825 15.62432 1.34988 41.48607 2017 14.44418 3.16104 17.60522 5.48507 0.96070 6.44577 12.72660 2.67340 15.40000 1.33315 40.78414 2018 14.48927 3.11073 17.60000 5.60805 0.80702 6.41507 12.33034 2.65121 14.98155 1.33495 40.33157 2019 14.46767 2.98828 17.45595 5.96158 0.73145 6.69303 11.96864 2.60324 14.57188 1.36344 40.08430 2020 14.79204 2.75595 17.54799 5.72918 0.57445 6.30363 11.63832 2.56862 14.20694 1.43491 39.49347 Source: Black Hawk County Auditor. 138 Page 494 of 557 City of Waterloo, Iowa Principal Taxpayers Current Year and Nine Years Ago 2020 2011 Assessed Percentage of Assessed Percentage of Value Total Assessed Value Total Assessed Employer 1/1/2018 Rank Value 1/1/2009 Rank Value Deere and Company $ 49,624,982 1 1.26% $ 25,844,550 5 0.72% IOC Black Hawk County, Inc. 48,954,195 2 1.24% $ 73,670,230 2 2.07% Con Agra k/n/a Hunt Wesson, Inc. 29,970,738 3 0.76% 26,580,220 4 0.75% Ferguson Enterprises, Inc. 18,636,903 4 0.47% 24,732,360 7 0.69% VGM Management, Inc. 16,579,038 5 0.42% FDP WTC LLC 16,478,658 6 0.42% Tyson Fresh Meats(formerly IBP, Inc.) 15,925,244 7 0.40% 25,138,920 6 0.70% Bertch Cabinet Manufacturing, Inc. 14,318,676 8 0.36% 15,607,970 8 0.44% Walmart 12,011,454 9 0.30% -- -- -- Menards, Inc. 10,434,987 10 0.26% -- -- -- MidAmerican Energy - -- 131,420,956 1 3.69% Crossroads Realty LLC -- -- 40,083,710 3 1.12% Howard Allen Investments -- -- 13,418,490 9 0.38% Qwest Corporation (formerly US West) - -- 12,704,937 10 0.36% Total $ 232,934,875 5.90% $ 389,202,343 10.91% Source: Official Bond Statements prepared by Speer Financial, Inc. 139 Page 495 of 557 City of Waterloo, Iowa Property Tax Levies and Collections Last Ten Fiscal Years Percent of Percent of Assessment Fiscal Year Current Current Tax Delinquent Total Total Tax Date Ended Total Tax Collections Tax Tax Collections January 1, June 30, Tax Levy Collections To Tax Levy Collections Collections To Tax Levy 2009 2011 37,312,210 37,186,887 99.66% 34,746 37,221,633 99.76% 2010 2012 38,703,447 38,469,916 99.40% 20,895 38,490,811 99.45% 2011 2013 40,620,062 40,275,404 99.15% 18,966 40,294,370 99.20% 2011 2013 40,620,062 40,275,404 99.15% 18,966 40,294,370 99.20% 2013 2015 39,200,603 38,901,557 99.24% (362,370) - 38,539,187 98.31% 2014 2016 38,480,720 38,405,051 99.80% (176,170) - 38,228,881 99.35% 2014 2016 38,480,720 38,405,051 99.80% (176,170) - 38,228,881 99.35% 2016 2018 39,613,829 39,602,704 99.97% 8,658 39,611,362 99.99% 2017 2019 38,984,631 38,980,335 99.99% 21,994 39,002,329 100.05% 2018 2020 40,639,192 40,122,621 98.73% 34,427 40,157,048 98.81% Source: Black Hawk County Auditor's office. Current year tax collections can exceed the total tax levy in certain instances, such as when property valuation adjustments are made after the tax levy certifications are completed. Information regarding changes to levies and the years that delinquent payments are attributable is not available to the City. A number of property valuation appeals for the valuation at the January 1,2011 assessment date were settled during the fiscal years ended June 30, 2014, 2015 and 2016 which resulted in refunds owed for prior taxes paid on those properties. Black Hawk County netted those refunds from delinquent taxes paid to the City, resulting in negative delinquent tax collections. 140 Page 496 of 557 City of Waterloo,Iowa Ratios of Outstanding Debt by Type Last Ten Fiscal Years Governmental Activities Business-Type Activities General General Obligation General Total Percentage Fiscal Obligation Capital Loan Capital Other Obligation Revenue Capital Other Primary of Personal Per Year Bonds Notes Leases Debt Bonds Bonds Leases Debt Government Income* Capita' 2011 65,772,821 2,806,900 20,062,809 7,655,000 96,297,530 3.85% 1,408 2012 68,651,784 2,111,193 20,870,997 4,727,951 96,361,925 3.82% 1,411 2013 65,966,220 2,524,312 24,400,407 3,119,608 96,010,547 3.58% 1,404 2014 69,226,920 2,281,997 22,253,712 1,914,460 95,677,089 3.38% 1,399 2015 67,833,111 2,061,307 25,804,346 719,286 96,418,050 3.37% 1,409 2016 75,897,719 1,934,063 23,198,824 142,604 101,173,210 3.59% 1,479 2017 83,682,844 1,788,702 21,692,273 - 107,163,819 3.78% 1,566 2018 81,969,301 8,019,724 19,136,397 1,534,000 110,659,422 3.81% 1,598 2019 82,879,508 6,905,931 16,583,131 2,091,522 108,460,092 3.65% 1,586 2020 87,276,792 5,862,152 14,541,676 2,030,495 109,711,115 3.40% 1,604 Note:Details regarding the city's outstanding debt can be found in the notes to the financial statements. "Personal income and population data can be found in the Schedule of Demographic and Economic Statistics. These ratios are calculated using personal income and population for the prior calendar year. 141 Page 497 of 557 City of Waterloo, Iowa Ratios of General Bonded Debt Outstanding Last Ten Fiscal Years Percentage of General Total Assessed Fiscal Obligation Assessed Value Value Per Year Bonds of Property of Property Capita* 2011 85,835,630 3,566,368,445 2.41% 1,255 2012 89,522,781 3,747,030,046 2.39% 1,309 2013 90,366,627 3,738,165,467 2.42% 1,321 2014 91,480,632 3,762,106,346 2.43% 1,337 2015 93,637,457 3,629,362,635 2.58% 1,369 2016 99,096,543 3,656,417,436 2.71% 1,449 2017 105,375,117 3,770,142,165 2.79% 1,540 2018 101,105,698 3,797,591,542 2.66% 1,478 2019 99,462,639 3,858,553,457 2.58% 1,454 2020 101,818,468 3,945,324,830 2.58% 1,488 Note: Details regarding the city's outstanding debt can be found in the notes to the financial statements. * Population data can be found in the Schedule of Demographic and Economic Statistics. 142 Page 498 of 557 City of Waterloo, Iowa Direct and Overlapping Governmental Activities Debt As of June 30, 2020 Estimated Estimated Percentage Share of Debt Applicable Overlapping Governmental Unit Outstanding To City* Debt City of Waterloo direct debt $ 93,138,944 100.00% $ 93,138,944 Overlapping: Black Hawk County $ 40,495,000 46.16% 18,692,492 Hawkeye Community College 2,000,000 27.30% 546,000 Subtotal, overlapping debt $ 42,495,000 $ 19,238,492 Total direct and overlapping debt $ 135,633,944 $ 112,377,436 Source: Black Hawk County Auditor Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the city. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City of Waterloo. This process recognizes that, when considering the city's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government. *The percentage of overlapping debt applicable is estimated using net taxable property values. Applicable percentages were estimated by determining the portion of the County's net value that is within the government's boundaries and dividing it by the County's total value. Source: Black Hawk County Auditor 143 Page 499 of 557 City of Waterloo Legal Debt Margin Information Last Ten Fiscal Years 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Debt Limit $ 178,318,423 $ 187,351,502 $ 186,908,273 $ 188,105,317 $ 181,167,349 $ 182,820,872 $ 188,507,108 $ 189,879,577 $ 192,927,673 $ 197,266,242 Total net debt applicable to limit 88,642,530 91,633,974 92,890,939 93,762,629 95,698,764 101,030,606 107,163,819 109,125,422 106,368,570 107,680,620 Legal debt margin $ 89,675,893 $ 95,717,528 $ 94,017,334 $ 94,342,688 $ 85,468,585 $ 81,790,266 $ 81,343,289 $ 80,754,155 $ 86,559,103 $ 89,585,622 Total net debt applicable to the limit as a percentage of debt limit 49.71% 48.91% 49.70% 49.02% 49.44% 49.44% 56.85% 55.26% 55.13% 54.59% Legal Debt Margin Calculation for Fiscal Year 2020: Estimated actual valuation(assessed)as of January 1,2018 $ 3,945,324,830 Debt limit(5%of total estimated actual valuation) 197,266,242 Debt applicable to debt limit: General obligation bonds 101,818,468 General obligation capital loan notes 5,862,152 Total net debt applicable to limit 107,680,620 Legal debt margin $ 89,585,622 Note: Under the State of Iowa Constitution,the city's outstanding general obligation debt should not exceed 5%of total assessed property value. 144 Page 500 of 557 City of Waterloo, Iowa Sewer Revenue Bond Coverage Last Ten Fiscal Years Less: Applicable Net Revenue Debt Fiscal Gross Operating Available for Service Year Revenue Expenses Debt Service Requirements Coverage 2011 13,468,610 7,041,089 6,427,521 2,059,323 3.1212 2012 13,217,083 6,450,294 6,766,789 1,655,847 4.0866 2013 12,312,670 6,803,784 5,508,886 1,659,883 3.3188 2014 12,863,347 8,069,660 4,793,687 1,259,403 3.8063 2015 12,716,670 9,894,071 2,822,599 1,233,703 2.2879 2016 14,261,375 11,319,925 2,941,450 592,413 4.9652 2017 15,229,015 11,307,231 3,921,784 144,200 29.2810 2018 13,362,514 9,263,755 4,098,759 66,469 61.6642 2019 15,003,350 8,433,566 6,569,784 193,738 33.9107 2020 16,835,257 8,462,090 8,373,167 230,600 36.3104 Note: Details regarding the city's outstanding debt can be found in the notes to the financial statements. Gross revenue includes both operating and non-operating revenue. Operating expenses do not include interest, depreciation or amortization of bond issue costs. 145 Page 501 of 557 City of Waterloo, Iowa Demographic and Economic Statistics Last Ten Calendar Years Per Capita Personal Personal Median Unemployment School Year Population' Income Income Age' Rate3 Enrollment4 2010 68,406 2,501,812,638 36,573 35.9 7.3% 10,020 2011 68,406 2,524,386,618 36,903 35.9 7.1% 10,103 2012 68,406 2,681,173,170 39,195 35.9 6.5% 10,239 2013 68,406 2,827,835,634 41,339 35.7 5.6% 10,483 2014 68,406 2,857,250,214 41,769 35.5 6.5% 10,611 2015 68,406 2,817,779,952 41,192 35.8 5.4% 10,445 2016 68,406 2,837,344,068 41,478 36.2 4.8% 10,357 2017 68,406 2,871,842,930 42,186 36.5 4.7% 10,401 2018 68,406 2,967,454,000 43,452 36.6 2.6% 10,297 2019 68,406 3,226,287,180 47,623 37.0 3.7% 10,380 N/A= Not available. Sources: ' 2000 and 2010 U.S. Census 2 U.S. Department of Commerce, Bureau of Economic Analysis 3 Iowa Workforce Development 4 Waterloo Community Schools 146 Page 502 of 557 City of Waterloo, Iowa Principal Area Employers Current Year and Nine Years Ago 2020 2011 Percentage Percentage of Total City of Total City Employer Employees Rank Employment Employees Rank Employment Deere&Company 5,600 1 16.99% 5,300 1 15.78% Tyson Fresh Meats 2,980 2 9.04% 2,500 3 7.44% Mercy One(formerly Wheaton Franciscan) 2,655 3 8.06% 2,680 2 7.98% University of Northern Iowa 1,735 4 5.27% 1,850 5 5.51% Waterloo Community Schools 1,730 5 5.25% 1,560 6 4.65% Unity Point Health (formerly Allen Hospital) 1,500 6 4.55% 2,080 4 6.19% Hy-Vee 1,200 7 3.64% 1,130 8 3.36% VGM Group 1,055 8 3.20% -- -- -- Western Home Communities 960 9 2.91% -- -- -- Omega Cabinets Ltd 950 10 2.88% - - -- Area Education Agency 267 - - - 1,150 7 3.42% GMAC Mortgage Corp. -- -- -- 805 9 2.40% Bertch Cabinet Manufacturing - - - 775 10 2.31% Total 20,365 61.80% 19,830 56.74% Source: Official Bond Statements from Speer Financial, Inc. 147 Page 503 of 557 City of Waterloo,Iowa Full-Time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years Function/Program 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Public Safety Police 139.0 138.0 131.0 130.0 130.0 130.0 130.0 129.0 129.0 129.0 Fire 114.5 112.5 109.5 108.5 106.5 109.5 107.5 104.5 108.5 106.5 Building Inspection 10.5 12.5 12.5 12.5 13.5 13.5 13.0 11.0 12.0 17.0 Public Works City Engineer 18.0 20.0 20.0 20.0 20.0 20.0 20.0 21.0 21.0 18.0 Traffic 12.0 12.0 15.0 16.0 16.0 14.0 15.0 14.0 15.0 15.5 Central Garage 9.0 9.0 9.0 10.0 10.0 9.0 9.0 9.0 7.0 8.0 Street 37.0 38.0 36.0 34.0 37.0 35.0 36.0 35.0 38.0 38.0 Airport 5.5 6.0 5.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0 Health&Social Services Human Rights 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 Culture&Recreation Cultural&Arts 14.0 14.5 13.0 11.0 13.0 12.0 13.0 10.0 10.0 12.0 Library 24.5 24.5 25.0 25.0 24.5 24.0 23.5 22.5 22.0 22.0 Leisure Services 40.0 39.0 36.0 40.0 43.0 42.0 41.0 43.0 42.0 40.0 Community&Economic Development Community Planning&Development 24.0 24.0 22.0 23.0 23.0 22.0 21.0 22.0 22.0 19.0 General Government Mayor's Office 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 Info Tech 2.0 2.0 1.0 1.0 1.0 2.0 4.0 5.0 4.0 5.0 City Clerk&Finance 13.0 13.0 14.0 14.0 12.0 12.0 9.0 10.0 10.0 10.0 City Attorney/Code Enforcement 1.5 1.5 1.5 1.5 1.5 6.0 6.0 6.0 6.0 6.0 Human Resources 3.0 3.0 3.0 3.0 3.0 3.0 4.0 4.0 4.0 4.0 Facilities Maintenance 3.0 3.0 3.0 4.0 4.0 4.0 4.0 5.0 4.0 4.0 Waste Management Services Sewer 32.0 35.0 33.9 41.0 39.0 40.0 39.0 36.0 38.0 38.0 Sanitation 15.0 14.0 17.1 13.0 17.0 13.0 13.0 13.0 11.0 13.0 Total 521.5 525.5 511.5 517.5 524.0 521.0 518.0 510.0 513.5 515.0 Source:City Human Resources Department records. 148 Page 504 of 557 City of Waterloo,Iowa Operating Indicators by Function/Program Last Ten Fiscal Years (Page 1 of 2) Function/Program 2012 2013 2014 2015 2016 2017 2018 2019 2020 Public Safety Police" Traffic accidents 1,630 1,598 1,839 1,726 1,607 1,633 1,441 1,527 1,235 Cases 11,591 11,344 11,298 11,111 10,110 9,683 8,930 9,103 8,028 Citations 7,271 6,448 6,989 5,060 4,917 3,947 3,748 4,195 3,681 Calls for service 80,872 75,626 77,161 67,717 61,944 60,652 50,773 50,986 47,979 Total arrests 5,244 4,984 4,931 4,728 4,004 3,874 3,444 3,496 2,777 Fire Fire responses 4,307 4,622 5,011 5,129 5,232 5,638 5,542 5,623 5,233 Ambulance responses 6,062 6,997 6,729 6,830 6,650 7,036 8,720 9,180 8,956 Building Inspection Construction permits issued 8,012 8,682 9,969 10,327 10,620 9,704 8,483 7,124 7,011 Construction value of permits $ 124,803,841 $ 91,192,766 $101,677,108 $ 100,224,478 $ 127,513,038 $108,699,337 $ 104,700,306 $ 142,264,758 $ 161,102,459 Public Works Engineering Street reconstruction(miles) 2.90 3.08 3.15 1.59 2.61 3.35 3.08 3.30 2.81 Street resurfacing(miles) 12.64 14.05 12.21 18.63 12.53 0.64 1.66 2.60 3.34 Street Department Tons of salt used for streets 4,816.00 5,700.00 5,162.00 4,217.00 3,024.00 3,307.00 5,699.72 4,000.00 2,500.00 Man hours for road maintenance 68,640 67,345 66,650 67,320 79,357 66,924 68,644 38,485 47,104 Airport Commercial Enplanements 22,173 19,897 21,573 26,170 27,325 25,534 22,836 23,446 15,055 Aircraft take-offs and landings 21,521 20,589 19,109 19,550 21,037 18,585 18,943 20,072 19,006 Based aircraft 101 104 104 74 75 75 75 81 70 Health&Social Services Human Rights Civil Rights complaints New cases opened 95 106 64 66 50 57 49 58 41 Cases closed 103 59 43 100 50 69 72 85 68 Active cases at year-end 103 154 177 143 142 129 105 83 52 Culture&Recreation Leisure Services SportsPlex Members N/A N/A 2,594 4,450 4,965 5,095 5,243 6,167 5,456 Young Arena facility usage Event Visitors 127,508 118,639 119,903 100,064 100,913 103,547 105,938 104,635 81,507 Recreational Visitors 164,315 174,780 186,384 189,121 189,586 183,749 180,545 167,900 124,700 Sports-youth programs 5,720 5,451 5,571 5,623 5,689 5,573 5,434 5,413 4,238 Sports-adult programs 1,620 1,588 1,598 1,617 1,543 1,497 1,412 1,384 954 Pool attendance @ 44,741 39,611 37,603 33,866 34,733 28,861 22,065 9,980 15,734 Golf rounds 97,032 81,218 75,737 74,891 76,137 69,989 60,640 52,076 56,192 Annual flowers grown for parks 22,488 23,304 - - - - - - Public Library Total Circulation 424,435 405,341 422,204 470,786 446,467 365,656 299,035 295,877 500,974 Total Library Visits # 207,597.00 263,261.00 271,603.00 278,431.00 253,929.00 262,073.00 250,804.00 181,867.00 92,342.00 Waterloo Center for the Arts In House Visitors 119,404.00 125,958.00 118,970.00 128,140.00 122,334.00 157,628.00 189,153.00 191,675.00 120,000.00 Events,meetings,and programs 1,578.00 1,563.00 1,074.00 1,103.00 1,003.00 1,261.00 1,513.00 1,757.00 1,100.00 149 Page 505 of 557 City of Waterloo,Iowa Operating Indicators by Function/Program Last Ten Fiscal Years (Page 2 of 2) 2020 Function/Program 2012 2013 2014 2015 2016 2017 2018 2019 Community&Economic Development Planning and Zoning Planning commission agenda items 65 72 91 100 86 63 70 59 47 CURA applications received** 12 24 30 41 31 35 25 28 22 CURA improvements value $ 9,307,075 $ 2,776,663 $ 11,368,905 $ 7,856,518 $ 13,451,612 $ 13,439,875 $ 3,793,731 $ 3,037,684 $ 5,367,551 CLURA applications received*** 6 19 58 69 41 74 46 39 46 CLURA improvments value $ 1,249,100 $ 4,385,349 $ 14,418,617 $ 15,057,131 $ 8,849,239 $ 17,426,350 $ 11,090,817 $ 11,533,082 $ 13,682,420 Community Development Down payment assistance 22 10 3 4 8 7 - - Home buyer education - - - - - - - - Owner-occupied homes rehabilitated 46 31 42 26 24 24 25 33 31 Emergency repairs(including roofs) 45 49 37 33 34 32 21 25 30 Demolitions(residential&commercial) 20 18 21 - 13 - 1 2 - Housing Vouchers used 996 1,005 931 937 975 1,017 1,010 1,020 1,061 Public housing units 50 50 50 50 50 50 50 50 50 Family self sufficiency participants 54 47 36 31 34 28 26 23 20 Sewer Sewer system customers 25,707 25,393 26,102 25,584 26,498 26,522 25,235 26,732 26,790 Source:Various city departments * Statistics for Police Department are for the calendar year ending within the fiscal year shown. ** Consolidated Urban Revitalization Area. ***City Limits Urban Revitalization Area Started FY12 # Door counter was broken for several months,so not all visitors could be counted. @ One pool could not be opened in the spring of 2019 due to needed repairs 150 Page 506 of 557 City of Waterloo,Iowa Capital Asset Statistics by Function/Program Last Ten Fiscal Years Function/Program 2012 2013 2014 2015 2016 2017 2018 2019 2020 Public Safety Police Stations 1 1 1 1 1 1 1 1 1 Fire* Stations 7 7 7 7 7 7 7 7 7 Trucks and special vehicles 34 31 29 29 30 33 35 31 31 Public Works Miles of streets-paved 364 364 364 364 360 360 361 362 363 Miles of streets-unpaved 72 72 72 72 68 68 68 68 73 Street lights 1,800 1,800 1,807 1,807 1,807 1,807 1,847 1,847 2,582 Traffic Signals 200 200 197 198 198 199 200 202 200 Airport runway lengths: Runway 12/30 8,400 8,400 8,400 8,400 8,400 8,400 8,400 8,400 8,400 Runway 18/36 6,002 6,002 6,002 6,002 6,002 6,002 6,002 6,002 6,002 Runway 6/24 5,403 5,403 5,403 5,403 5,403 5,403 5,403 5,403 CLOSED Culture&Recreation City recreation areas 3 3 3 3 3 3 3 3 3 City parks 48 48 48 48 48 48 48 48 48 Golf courses 3 3 3 3 3 3 3 3 3 Swimming pools 2 2 2 2 2 2 2 2 2 Softball diamonds 23 23 23 23 23 20 20 20 20 Baseball diamonds 6 6 6 6 6 6 6 6 6 Baseball stadium 1 1 1 1 1 1 1 1 1 Softball complexes 2 2 2 2 2 2 2 2 2 Tennis courts 27 27 27 27 27 27 27 27 27 Ice arena 1 1 1 1 1 1 1 1 1 Soccer complex 1 1 1 1 1 1 1 1 1 Exposition plaza 1 1 1 1 1 1 1 1 1 Skatepark 1 1 1 1 1 1 1 1 1 Dog park 1 1 1 1 1 1 1 1 1 Amphitheater 1 1 1 1 1 1 1 1 1 Splash Park 1 1 1 1 1 1 1 1 1 SPORTSPLEX 0 0 0 1 1 1 1 1 1 Center for the Arts collection size 4,178 4,352 4,682 5,102 5,498 5,647 6,001 6,475 6,738 Library collection size** 163,247 161,462 164,486 138,540 138,305 124,649 112,777 112,777 107,583 Sewer Miles of sanitary sewer 356 356 357 358 368 372 373 374 376 Source:Various city departments *Added boats **Collection size increased due to providing additional electronic service 151 Page 507 of 557 City of Waterloo, Iowa Schedule of Expenditures of Federal Awards Year Ended June 30, 2020 Pass-Through Federal Amount Entity Identifying CFDA Provided to Federal Federal Grantor/Pass-Through Grantor/Program Title Number Number Subrecipients Expenditures Department of Housing and Urban Development Direct: CDBG Entitlement Grants Cluster,Entitlement Grant 14.218 $ 36,254 $ 766,746 CDBG,States Program 14.228 - 1,593 HOME Investments Partnerships Program 14.239 78,798 103,432 Public and Indian Housing 14.850 - 38,148 Section 8 Housing Choice Vouchers 14.871 5,846,165 Indirect: Iowa Economic Development Authority Public Housing Capital Fund 14.872 - 26,566 Lead-Based Paint Hazard Control 14.900 44,675 625,659 Total Department of Housing and Urban Development 159,727 7,408,309 Department of Interior Direct: Historic Preservation Fund Grants-In-Aid Civil Rights History Study 15.904 5,000 Indirect: Silos and Smokestacks Heritage Partnership P15AC00781 15.904 2,500 Total Department of Interior 7,500 Department of Justice Direct: Bulletproof Vest Partnership Program 16.607 2,324 Edward Byrne Memorial Justice Assistance Grant Program* 16.738 104,276 COVID-19—Coronavirus Emergency Supplemental Funding Program 16.034 93,430 Total direct 200,030 Indirect: Pass Through Iowa Crime Victims Assistance Division, Federal Violence Against Women Act Contract VW-18-92-CJ 16.588 41,786 Pass Through Governor's Office of Drug Control Policy, Public Safety Partnership and Community Policing Grants 17-CAMP-04 16.710 - 5,244 Public Safety Partnership and Community Policing Grants 18-CAMP-16 16.710 5,709 18,375 Subtotal 5,709 23,619 Project Safe Neighborhoods 18-PSN-01 16.609 - 85 Edward Byrne Memorial Justice Assistance Grant Program* 17-JAG-302508 16.738 131,146 195,640 Total pased through Governor's Office of Drug Control Policy 136,855 219,344 Total indirect 136,855 261,130 Total Department of Justice 136,855 461,160 (Continued) 152 Page 508 of 557 City of Waterloo, Iowa Schedule of Expenditures of Federal Awards (Continued) Year Ended June 30, 2020 Pass-Through Federal Amount Entity Identifying CFDA Provided to Federal Federal Grantor/Pass-Through Grantor/Program Title Number Number Subrecipients Expenditures Department of Transportation Direct: Federal Aviation Administration: Airport Improvement Program 20.106 $ $ 126,834 Total direct 126,834 Indirect: Federal Highway Administration Pass Through Iowa Department of Transportation: Highway Planning and Construction Cluster: Highway Planning and Construction NHSX-63-6(69)--3H-07 20.205 508 Highway Planning and Construction STP-A-8155(754)--86-07 20.205 15,834 Highway Planning and Construction STP-A-8155(755)--70-07 20.205 7,291 Highway Planning and Construction 2017-ICAAP-02 20.205 11,822 Highway Planning and Construction STP-A-8155(757)--86-07 20.205 48,023 Total Highway Planning and Construction Cluster 83,478 National Highway Traffic Safety Administration Pass Through Iowa Department of Public Safety Governor's Traffic Safety Bureau,Highway Safety Cluster National Priority Safety Program PAP-17-405d-M60T,Task 42 20.616 36,970 National Priority Safety Program PAP-17-405d-M60T,Task 48 20.616 8,202 Total Highway Safety Cluster 45,172 Total indirect 128,650 Total Department of Transportation 255,484 U.S.Equal Employment Opportunity Commission Direct: Employment Discrimination Title VII of the Civil Rights Act of 1964 30.001 18,798 National Foundation on the Arts and the Humanities Direct: Library Services and Technology Act 45.310 8,401 Indirect, National Endowment for the Humanities Pass Through Iowa Arts Council Promotion of the Humanities: Federal/State Partnership OSP 1420 FY15 45.129 18,783 Total National Foundation on the Arts and Humanities 27,184 Environmental Protection Agency Direct: Brownfield Assessment&Cleanup Cooperative 66.818 103,599 Department of Homeland Security Indirect: Pass Through Iowa Homeland Security and Emergency Management Division: Disaster Grants-Public Assistance(Presidentially Declared Disasters) 013-82425-00 DR 4289 97.036 - 1,865 Total expenditures of federal awards $ 296,582 $ 8,283,899 Total Edward Byrne Memorial Justice Assistance Grant Program(CFDA No.16.738):$299,916 See notes to schedule of expenditures of federal awards. 153 Page 509 of 557 City of Waterloo, Iowa Notes to Schedule of Expenditures of Federal Awards Year Ended June 30, 2020 Note 1. Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Waterloo, Iowa (the City). The schedule of expenditures of federal awards does not include the federal grant activity of the City's discretely presented component units. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies are included in this Schedule. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Note 2. Significant Accounting Policies The accompanying schedule of federal awards is presented on the accrual basis of accounting in the proprietary funds and the modified accrual basis of accounting in the governmental funds. Expenditures of federal awards are recognized in the accounting period in which the liability is incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Note 3. Indirect Cost Rate The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. 154 Page 510 of 557 City of Waterloo, Iowa Summary Schedule of Prior Audit Findings Year Ended June 30, 2020 The prior year Single Audit disclosed no findings in the Schedule of Findings and Questioned Costs and no uncorrected or unresolved findings exist from prior audits Summary of Prior Audit Findings. 155 Page 511 of 557 RSM Report on Internal Control Over Financial Reporting RSM US LLP and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards Independent Auditor's Report Honorable Mayor and Members of City Council City of Waterloo, Iowa We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Waterloo, Iowa, (the City) as of and for the year ended June 30, 2020, and the related notes to the financial statements, which collectively comprise the City's basic financial statements, and have issued our report thereon dated February 1, 2021. Our report includes a reference to other auditors who audited the financial statements of the Waterloo Water Works as of and for the year ended December 31, 2019 and the Waterloo Convention &Visitors Bureau, Inc. as of and for the year ended June 30, 2020, both discretely presented component units, as described in our report on the City's financial statements. This report does not include the results of the other auditor's testing of internal control over financial reporting or compliance and other matters that are reported separately by those auditors. The financial statements of Waterloo Convention &Visitors Bureau, Inc. were not audited in accordance with Government Auditing Standards. Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the City's internal control over financial reporting (internal control)as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. THE POWER OF BEING UNDERSTOOD AUDIT I TAX I CONSULTING 156 LL RSM US LLP is the U.S.member firm of RSM International,a global network ofindependertaudit,tax,and consulting firms.Ysitrsmus.com/aboutusformoreirformationregardingRIgeL612 of 557 RSM International. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Compliance and Other Matters As part of obtaining reasonable assurance about whether the City's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Comments involving statutory or other legal matters about the City's operations for the year ended June 30, 2020 are based exclusively on the knowledge obtained from procedures during our audit of the basic financial statements of the City. Since our audit was based on tests and samples, not all transactions that might have had an impact on the comments were necessarily audited. The comments involving statutory and other legal matters are not intended to constitute legal interpretation of those statues. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Davenport, Iowa February 1, 2021 157 Page 513 of 557 RSM Report on Compliance For the Major Federal Program and RSM US LLP Report on Internal Control Over Compliance Required by the Uniform Guidance Independent Auditor's Report Honorable Mayor and Members of the City Council City of Waterloo, Iowa Report on Compliance for the Major Federal Program We have audited the City of Waterloo, Iowa's (the City) compliance with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on the City's major federal program for the year ended June 30, 2020. The City's major federal program is identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. Scope The City's basic financial statements include the operations of the Waterloo Water Works and the Waterloo Convention &Visitors Bureau, Inc. discretely presented component units which did not have a single audit performed for their fiscal years ended December 31, 2019 and June 30, 2020, respectively. Our audit, described below, does not include the operations of the Waterloo Water Works or the Waterloo Convention and Visitors Bureau, Inc. because these discretely presented component units were audited by other auditors. Management's Responsibility Management is responsible for compliance with the requirements of federal statutes, regulations and the terms and conditions of its federal awards applicable to its federal programs. Auditor's Responsibility Our responsibility is to express an opinion on compliance for the City of Waterloo, Iowa's major federal program based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Those standards and Uniform Guidance require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the City's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for the major federal program. However, our audit does not provide a legal determination of the City's compliance. THE POWER OF BEING UNDERSTOOD AUDIT I TAX I CONSULTING 158 .S��AA RSM US LLP is the U.S.member firm of RSM International,a global network ofindependertaudit,tax,and consulting firms.Ysitrsmus.com/aboutusformoreirformationregardingRlg$LrLL44 of 557 RSM International. Opinion on the Major Federal Program In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2020. Report on Internal Control Over Compliance Management of the City is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered the City's internal control over compliance with the types of requirements that could have a direct and material effect on the major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for the major federal program and to test and report on internal control over compliance in accordance with Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the City's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of Uniform Guidance. Accordingly, this report is not suitable for any other purpose. �s,� vs .CACP Davenport, Iowa February 1, 2021 159 Page 515 of 557 City of Waterloo, Iowa Schedule of Findings and Questioned Costs Year Ended June 30, 2020 I. Summary of the Independent Auditor's Results Financial Statements Type of auditor's report issued: Unmodified Internal control over financial reporting: Material weakness(es)identified? ❑ Yes 0 No Significant deficiencies identified? ❑ Yes 21 None Reported Noncompliance material to financial statements noted? ❑ Yes 0 No Federal Awards Internal control over major programs: Material weakness(es)identified? ❑ Yes 0 No Significant deficiencies identified? ❑ Yes ❑� None Reported Type of auditor's report issued on compliance for major programs: Unmodified Any audit findings disclosed that are required to be reported in accordance with Section 2 CFR 200.516(a)? ❑ Yes ❑ No Identification of major programs: CFDA Number Name of Federal Program or Cluster 14.871 Section 8 Housing Choice Vouchers Dollar threshold used to distinguish between type A and type B programs: $750,000 Auditee qualified as low-risk auditee? ❑d Yes ❑ No (Continued) 160 Page 516 of 557 City of Waterloo, Iowa Schedule of Findings and Questioned Costs (Continued) Year Ended June 30, 2020 II. Findings Relating to the Financial Statement Audit as Required to be Reported in Accordance With Generally Accepted Government Auditing Standards A. Internal Control None reported. B. Compliance findings None reported. III. Findings and Questioned Costs for Federal Awards A. Internal Control None reported. B. Compliance Findings None reported. IV. Findings Related to Statutory Reporting 20-IV-A Certified Budget Expenditure/expenses during the year ended June 30, 2020, did not exceed the budgeted amounts. 20-IV-B Questionable Disbursements No questionable disbursements were noted. 20-IV-C Travel Expenses No expenditures of City money for travel expenses of spouses of City officials or employees were noted. 20-IV-D Business Transactions No material business transactions between the City and City officials or employees were noted. Finding: The City did not have W-9s on file for 19 of 25 vendors tested. For 3 of the 25 vendors tested, we were unable to verify if filing a Form 1099 was required. Recommendation: The City should retain W-9s obtained and file 1099 for all required entities. Response and Corrective Action Plan: The City believes they have filed Forms 1099s where necessary. The City will work on updating the Form W-9 files and maintain copies of forms received to document that Forms 1099 were properly filed. 20-IV-E Bond Coverage Surety bond coverage of City officials and employees is in accordance with statutory provisions. 20-IV-F Council Minutes and Resolutions No instances of noncompliance with the council minutes and resolutions. 161 Page 517 of 557 City of Waterloo, Iowa Schedule of Findings and Questioned Costs (Continued) Year Ended June 30, 2020 20-IV-G Deposits and Investments No instances of noncompliance with the deposit and investment provisions of Chapter 12B and 12C of the Code of Iowa and the City's investment policy were noted. 20-IV-H Deficit Balances Finding: The following funds had deficit balances as of June 30, 2019: Grants, Special Revenue $ 370,491 Community Development Block Grant, Special Revenue 64,910 Capital Improvements, Capital Projects 2,586,350 Recommendations: The City should investigate alternatives to eliminate these deficits in order to return the funds to sound financial positions. Management's Response: The Grants, Special Revenue Fund reported a deficit fund balance due to timing delays in receiving grant reimbursements. Most grants that the City receives require the City request and receive reimbursement from the granting agencies only after the City has expended the funds. This creates a temporary deficit in the funds. Because the City's books are maintained on an accrual basis, expenses are recorded for invoices that may not be paid until after year-end. The City can not request reimbursements until after the invoices are paid, creating temporary timing deficits. The City continues to investigate alternatives for shortening the turnaround time between spending grant funds and receiving reimbursements where possible. 20-IV-1 Revenue Bonds No instances of noncompliance noted regarding the provisions of the revenue bond indentures. Information required by sewer revenue bond resolutions is reported in the statistical section. 20-IV-J Airport Ordinance Finding: The City adopted ordinance number 4400 on December 13, 1999 which established an Airport Board of Directors and requires the Board to"Maintain a positive cash balance at all times in airport operations."Airport operations are accounted for in the General Fund (Fund 010), Airport Commission Department (Department number 29), Airport Administration Activity(Activity number 7700). Through June 30, 2020, the accumulative cash deficit totaled $420,101. Recommendations: To ensure the City is in compliance with its own ordinances, we recommend that the City either provide airport operations with additional cash resources to enable it to achieve and maintain a positive cash balance or amend the ordinance to repeal the positive cash balance requirement. Management's Response: It is the City's intent at this time to continue to require the positive cash balance, although City management realizes that the Airport may not be able to maintain that balance due to current economic conditions. 162 Page 518 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A APPENDIX B DESCRIBING BOOK-ENTRY-ONLY ISSUANCE 1. The Depository Trust Company ("DTC"),New York,New York, will act as securities depository for the Bonds (the "Securities"). The Securities will be issued as fully-registered securities registered in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully- registered Security certificate will be issued for each issue of the Securities,each in the aggregate principal amount of such issue, and will be deposited with DTC. 2. DTC,the world's largest securities depository,is a limited-purpose trust company organized under the New York Banking Law,a"banking organization"within the meaning of the New York Banking Law,a member of the Federal Reserve System,a"clearing corporation"within the meaning of the New York Uniform Commercial Code, and a"clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues,corporate and municipal debt issues, and money market instruments(from over 100 countries)that DTC's participants("Direct Participants")deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers,banks,trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation ("DTCC"). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). DTC has a S&P Global Ratings rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com. 3. Purchases of Securities under the DTC system must be made by or through Direct Participants,which will receive a credit for the Securities on DTC's records. The ownership interest of each actual purchaser of each Security (`Beneficial Owner") is in turn to be recorded on the Direct and Indirect Participants' records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction,as well as periodic statements of their holdings,from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Securities, except in the event that use of the book-entry system for the Securities is discontinued. 4. To facilitate subsequent transfers, all Securities deposited by Direct Participants with DTC are registered in the name of DTC's partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Securities with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Securities; DTC's records reflect only the identity of the Direct Participants to whose accounts such Securities are credited,which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. B-1 Page 519 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A 5. Conveyance of notices and other communications by DTC to Direct Participants,by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Securities may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Securities, such as redemptions, tenders, defaults, and proposed amendments to the Security documents.For example,Beneficial Owners of Securities may wish to ascertain that the nominee holding the Securities for their benefit has agreed to obtain and transmit notices to Beneficial Owners.In the alternative,Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them. 6. Redemption notices shall be sent to DTC. If less than all of the Securities within an issue are being redeemed, DTC's practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. 7. Neither DTC nor Cede&Co. (nor any other DTC nominee)will consent or vote with respect to Securities unless authorized by a Direct Participant in accordance with DTC's MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the City as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose accounts Securities are credited on the record date (identified in a listing attached to the Omnibus Proxy). 8. Redemption proceeds,distributions,and dividend payments on the Securities will be made to Cede&Co., or such other nominee as may be requested by an authorized representative of DTC. DTC's practice is to credit Direct Participants'accounts upon DTC's receipt of funds and corresponding detail information from the City or the Paying Agent, on payable date in accordance with their respective holdings shown on DTC's records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices,as is the case with securities held for the accounts of customers in bearer form or registered in"street name," and will be the responsibility of such Participant and not of DTC,the Paying Agent, or the City, subject to any statutory or regulatory requirements as may be in effect from time to time.Payment of redemption proceeds,distributions, and dividend payments to Cede&Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the City or the Paying Agent, disbursement of such payments to Direct Participants will be the responsibility of DTC,and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. 9. A Beneficial Owner shall give notice to elect to have its Securities purchased or tendered, through its Participant,to any Tender/Remarketing Agent,and shall effect delivery of such Securities by causing the Direct Participant to transfer the Participant's interest in the Securities,on DTC's records,to any Tender/Remarketing Agent.The requirement for physical delivery of Securities in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Securities are transferred by Direct Participants on DTC's records and followed by a book- entry credit of tendered Securities to any Tender/Remarketing Agent's DTC account. 10. DTC may discontinue providing its services as depository with respect to the Securities at any time by giving reasonable notice to the City or the Paying Agent.Under such circumstances,in the event that a successor depository is not obtained, Security certificates are required to be printed and delivered. 11. The City may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository). In that event, Security certificates will be printed and delivered to DTC. 12. The information in this section concerning DTC and DTC's book-entry system has been obtained from sources that the City believes to be reliable,but the City takes no responsibility for the accuracy thereof. B-2 Page 520 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A APPENDIX C DRAFT FORM OF BOND COUNSEL OPINION Ahlers&Cooney,P.C. Attomeys at AHLERS COONEY 100CourtAvew 100 Court Avenue,Suite 600 A T T D R N E Y 5 Des Moines,Iowa 50309-2231 Phone: 515-243-7611 Fax: 515-243-2149 www.ablerslaw.com DRAFT We hereby certify that we have examined a certified transcript of the proceedings of the City Council and acts of administrative officers of the City of Waterloo,State of Iowa(the "Issuer"),relating to the issuance of Taxable General Obligation Urban Renewal Bonds,Series 2022A,by said City,dated ,2022,in the denomination of$5,000 or multiples thereof, in the aggregate amount of$ (the "Bonds"). We have examined the law and such certified proceedings and other papers as we deem necessary to render this opinion as bond counsel. As to questions of fact material to our opinion,we have relied upon representations of the Issuer contained in the resolution authorizing issuance of the Bonds(the"Resolution")and in the certified proceedings and other certifications of public officials furnished to us,without undertaking to verify the same by independent investigation. Based on our examination and in reliance upon the certified proceedings and other certifications described above,we are of the opinion,under existing law,as follows: 1, The Issuer is duly created and validly existing as a body corporate and politic and political subdivision of the State of Iowa with the corporate power to adopt and perform the Resolution and issue the Bonds. 2. The Bonds are valid and binding general obligations of the Issuer. 3. All taxable property in the territory of the Issuer is subject to ad valorem taxation without limitation as to rate or amount to pay the Bonds. Taxes have been levied by the Resolution for the payment of the Bonds and the Issuer is required by law to include in its annual tax levy the principal and interest coming due on the Bonds to the extent the necessary funds are not provided from other sources. 4. The interest on the Bonds is not excluded from gross income for federal income tax purposes under Section 103(a)of the Internal Revenue Code of 1986,as amended. THE HOLDERS OF THE BONDS SHOULD TREAT THE INTEREST THEREON AS SUBJECT TO FEDERAL INCOME TAXATION. We express no other opinion regarding any other federal or state income tax consequences caused by the receipt or accrual of interest on the Bonds. 5. Interest on the Bonds is exempt from the taxes imposed by Division II(Personal Net Income Tax)and Division III(Business Tax on Corporations)of Chapter 422 of the Code of Iowa,as amended(the"Iowa Code"). Interest on the Bonds is subject to the taxes imposed by Division V(Taxation of Financial Institutions)of Chapter 422 of the Iowa Code. We express no opinion regarding other State tax consequences arising with respect to the Bonds. We express no Wishard&Baily-1888,Guernsey&Bally-1893,Baily&Stipp-1901,Stipp,Perry,Bannister&Starztnger-1914,Bannister,Carpenter, Amers&Cooney-1950,Ahlers.Cooney,Dorweiler,Allbee,Haynie&Smith-1974,Ahlers,Cooney,Dorweiler,Haynie,Smith&Allbee.P.C.-1990 C-1 Page 521 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A DRAFT City of Waterloo, State of Iowa $ Taxable General Obligation Urban Renewal Bonds, Series 2022A Page 2 opinion regarding the accuracy,adequacy,or completeness of the Official Statement or other offering material relating to the Bonds. Further,we express no opinion regarding tax consequences arising with respect to the Bonds other than as expressly set forth herein. The rights of the owners of the Bonds and the enforceability of the Bonds are limited by bankruptcy, insolvency,reorganization,moratorium,and other similar laws affecting creditors' rights generally,and by equitable principles,whether considered at law or in equity. This opinion is given as of the date hereof,and we assume no obligation to revise or supplement this opinion to reflect any facts or circumstances that may hereafter come to our attention,or any changes in law that may hereafter occur. Respectfully submitted, 01950272-1111310-144 C-2 Page 522 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A APPENDIX D DRAFT CONTINUING DISCLOSURE CERTIFICATE This Continuing Disclosure Certificate(the "Disclosure Certificate")is executed and delivered by the City of Waterloo, State of Iowa(the "Issuer"),in connection with the issuance of$ Taxable General Obligation Urban Renewal Bonds, Series 2022A(the "Bonds") dated January 4, 2022*. The Bonds are being issued pursuant to a Resolution of the Issuer approved on ,2022 (the "Resolution"). The Issuer covenants and agrees as follows: Section 1. Purpose of the Disclosure Certificate; Interpretation. This Disclosure Certificate is being executed and delivered by the Issuer for the benefit of the Holders and Beneficial Owners of the Bonds and in order to assist the Participating Underwriters in complying with S.E.C. Rule 15c2-12(b)(5). This Disclosure Certificate shall be governed by, construed and interpreted in accordance with the Rule, and,to the extent not in conflict with the Rule,the laws of the State. Nothing herein shall be interpreted to require more than required by the Rule. Section 2. Definitions. In addition to the definitions set forth in the Resolution,which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section,the following capitalized terms shall have the following meanings: "Annual Financial Information" shall mean financial information or operating data of the type included in the final Official Statement,provided at least annually by the Issuer pursuant to,and as described in, Sections 3 and 4 of this Disclosure Certificate. "Beneficial Owner" shall mean any person which(a)has the power, directly or indirectly,to vote or consent with respect to, or to dispose of ownership of, any Bonds(including persons holding Bonds through nominees, depositories or other intermediaries), or(b)is treated as the owner of any Bonds for federal income tax purposes. "Business Day" shall mean a day other than a Saturday or a Sunday or a day on which banks in Iowa are authorized or required by law to close. "Dissemination Agent" shall mean the Issuer or any Dissemination Agent designated in writing by the Issuer and which has filed with the Issuer a written acceptance of such designation. "Financial Obligation" shall mean a(i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or(iii) guarantee of(i) or(ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with S.E.C. Rule 15c2-12. "Holders" shall mean the registered holders of the Bonds, as recorded in the registration books of the Registrar. "Listed Events" shall mean any of the events listed in Section 5(a) of this Disclosure Certificate. "Municipal Securities Rulemaking Board" or"MSRB" shall mean the Municipal Securities Rulemaking Board, 13001 Street NW, Suite 1000,Washington, DC 20005. "National Repository" shall mean the MSRB's Electronic Municipal Market Access website, a/k/a"EMMA" (emma.msrb.org). "Official Statement" shall mean the Issuer's Official Statement for the Bonds, dated 52022. "Participating Underwriter" shall mean any of the original underwriters of the Bonds required to comply with the Rule in connection with offering of the Bonds. D-1 Page 523 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A "Rule" shall mean Rule 15c2-12 adopted by the Securities and Exchange Commission(S.E.C.)under the Securities Exchange Act of 1934, and any guidance and procedures thereunder published by the S.E.C., as the same may be amended from time to time. "State" shall mean the State of Iowa. Section 3. Provision of Annual Financial Information. a)The Issuer shall,or shall cause the Dissemination Agent to,not later than two hundred seventy(270) days after the end of the Issuer's fiscal year(presently June 30th),commencing with information for the 2020/2021 fiscal year,provide to the National Repository an Annual Financial Information filing consistent with the requirements of Section 4 of this Disclosure Certificate. The Annual Financial Information filing must be submitted in such format as is required by the MSRB (currently in"searchable PDF" format). The Annual Financial Information filing may be submitted as a single document or as separate documents comprising a package. The Annual Financial Information filing may cross-reference other information as provided in Section 4 of this Disclosure Certificate;provided that the audited financial statements of the Issuer may be submitted separately from the balance of the Annual Financial Information filing and later than the date required above for the filing of the Annual Financial Information if they are not available by that date. If the Issuer's fiscal year changes, it shall give notice of such change in the same manner as for a Listed Event under Section 5(c). b)If the Issuer is unable to provide to the National Repository the Annual Financial Information by the date required in subsection(a),the Issuer shall send a notice to the Municipal Securities Rulemaking Board,if any, in substantially the form attached as Exhibit A. c)The Dissemination Agent shall: i. each year file Annual Financial Information with the National Repository; and ii. (if the Dissemination Agent is other than the Issuer), file a report with the Issuer certifying that the Annual Financial Information has been filed pursuant to this Disclosure Certificate, stating the date it was filed. Section 4. Content of Annual Financial Information. The Issuer's Annual Financial Information filing shall contain or incorporate by reference the following: a)The last available audited financial statements of the Issuer for the prior fiscal year,prepared in accordance with generally accepted accounting principles promulgated by the Financial Accounting Standards Board as modified in accordance with the governmental accounting standards promulgated by the Governmental Accounting Standards Board or as otherwise provided under State law,as in effect from time to time, or, if and to the extent such financial statements have not been prepared in accordance with generally accepted accounting principles,noting the discrepancies therefrom and the effect thereof. If the Issuer's audited financial statements for the preceding years are not available by the time Annual Financial Information is required to be filed pursuant to Section 3(a),the Annual Financial Information filing shall contain unaudited financial statements of the type included in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Financial Information when they become available. b)A table, schedule or other information prepared as of the end of the preceding fiscal year,of the type contained in the final Official Statement under the captions "Socioeconomic Information-Retail Sales", "Local Option Sales Tax", "Property Tax Information", "Debt Information", and"Financial Information." Any or all of the items listed above may be included by specific reference to other documents,including official statements of debt issues of the Issuer or related public entities,which have been filed with the National Repository. The Issuer shall clearly identify each such other document so included by reference. D-2 Page 524 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Section 5. Reporting of Significant Events. a)Pursuant to the provisions of this Section,the Issuer shall give, or cause to be given,notice of the occurrence of any of the following events with respect to the Bonds in a timely manner not later than 10 Business Days after the day of the occurrence of the event: i. Principal and interest payment delinquencies; ii.Non-payment related defaults,if material; iii.Unscheduled draws on debt service reserves reflecting financial difficulties; iv. Unscheduled draws on credit enhancements relating to the Bonds reflecting financial difficulties; v. Substitution of credit or liquidity providers, or their failure to perform; vi. Adverse tax opinions,the issuance by the Internal Revenue Service of proposed or final determinations of taxability,Notices of Proposed Issue(IRS Form 5701-TEB) or other material notices or determinations with respect to the tax-exempt status of the Series Bonds, or material events affecting the tax-exempt status of the Bonds; vii. Modifications to rights of Holders of the Bonds,if material; viii. Bond calls(excluding sinking fund mandatory redemptions),if material, and tender offers; ix. Defeasances of the Bonds; x. Release, substitution, or sale of property securing repayment of the Bonds, if material; xi. Rating changes on the Bonds; xii. Bankruptcy, insolvency,receivership or similar event of the Issuer; xiii. The consummation of a merger, consolidation, or acquisition involving the Issuer or the sale of all or substantially all of the assets of the Issuer,other than in the ordinary course of business,the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions,other than pursuant to its terms, if material; xiv. Appointment of a successor or additional trustee or the change of name of a trustee,if material; xv. Incurrence of a Financial Obligation of the Issuer,if material, or agreement to covenants, events of default,remedies,priority rights,or other similar terms of a Financial Obligation of the Issuer, any of which affect security holders, if material; and xvi. Default,event of acceleration,termination event,modification of terms or other similar events under the terms of a Financial Obligation of the Issuer,any of which reflect financial difficulties. b)Whenever the Issuer obtains the knowledge of the occurrence of a Listed Event,the Issuer shall determine if the occurrence is subject to notice only if material, and if so shall as soon as possible determine if such event would be material under applicable federal securities laws. D-3 Page 525 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A c)If the Issuer determines that knowledge of the occurrence of a Listed Event is not subject to materiality, or determines such occurrence is subject to materiality and would be material under applicable federal securities laws,the Issuer shall promptly,but not later than 10 Business Days after the occurrence of the event,file a notice of such occurrence with the Municipal Securities Rulemaking Board through the filing with the National Repository. Section 6. Termination of Reporting Obli ag tion. The Issuer's obligations under this Disclosure Certificate with respect to each Series of Bonds shall terminate upon the legal defeasance,prior redemption or payment in full of all of the Bonds of that Series or upon the Issuer's receipt of an opinion of nationally recognized bond counsel to the effect that, because of legislative action or final judicial action or administrative actions or proceedings,the failure of the Issuer to comply with the terms hereof will not cause Participating Underwriters to be in violation of the Rule or other applicable requirements of the Securities Exchange Act of 1934,as amended. Section 7. Dissemination Agent. The Issuer may,from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate,and may discharge any such Agent,with or without appointing a successor Dissemination Agent. The Dissemination Agent shall not be responsible in any manner for the content of any notice or report prepared by the Issuer pursuant to this Disclosure Certificate. The initial Dissemination Agent shall be the Issuer. Section 8.Amendment; Waiver. Notwithstanding any other provision of this Disclosure Certificate,the Issuer may amend this Disclosure Certificate,and any provision of this Disclosure Certificate may be waived,provided that the following conditions are satisfied: a)If the amendment or waiver relates to the provisions of Section 3(a),4, or 5(a), it may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity,nature or status of an obligated person with respect to the Bonds,or the type of business conducted; b) The undertaking,as amended or taking into account such waiver,would, in the opinion of nationally recognized bond counsel,have complied with the requirements of the Rule at the time of the original issuance of the Bonds, after taking into account any amendments or interpretations of the Rule, as well as any change in circumstances; and c)The amendment or waiver either(i) is approved by the Holders of the Bonds in the same manner as provided in the Resolution for amendments to the Resolution with the consent of Holders, or(ii) does not, in the opinion of nationally recognized bond counsel,materially impair the interests of the Holders or Beneficial Owners of the Bonds. In the event of any amendment or waiver of a provision of this Disclosure Certificate,the Issuer shall describe such amendment in the next Annual Financial Information filing,and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type(or in the case of a change of accounting principles, on the presentation)of financial information or operating data being presented by the Issuer. In addition,if the amendment relates to the accounting principles to be followed in preparing financial statements, (i)notice of such change shall be given in the same manner as for a Listed Event under Section 5(c), and(ii)the Annual Financial Information filing for the year in which the change is made will present a comparison or other discussion in narrative form(and also, if feasible, in quantitative form) describing or illustrating the material differences between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. D-4 Page 526 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A Section 9.Additional Information. Nothing in this Disclosure Certificate shall be deemed to prevent the Issuer from disseminating any other information,using the means of dissemination set forth in this Disclosure Certificate or any other means of communication,or including any other information in any Annual Financial Information filing or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Certificate. If the Issuer chooses to include any information in any Annual Financial Information filing or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Certificate,the Issuer shall have no obligation under this Certificate to update such information or include it in any future Annual Financial Information filing or notice of occurrence of a Listed Event. Section 10. Default. In the event of a failure of the Issuer to comply with any provision of this Disclosure Certificate, any Holder or Beneficial Owner of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order,to cause the Issuer to comply with its obligations under this Disclosure Certificate. Direct,indirect,consequential and punitive damages shall not be recoverable by any person for any default hereunder and are hereby waived to the extent permitted by law. A default under this Disclosure Certificate shall not be deemed an event of default under the Resolution, and the sole remedy under this Disclosure Certificate in the event of any failure of the Issuer to comply with this Disclosure Certificate shall be an action to compel performance. Section 11. Duties,Immunities and Liabilities of Dissemination Agent. The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Certificate, and the Issuer agrees to indemnify and save the Dissemination Agent,its officers, directors, employees and agents,harmless against any loss, expense and liabilities which it may incur arising out of or in the exercise or performance of its powers and duties hereunder,including the costs and expenses(including attorneys'fees) of defending against any claim of liability,but excluding liabilities due to the Dissemination Agent's negligence or willful misconduct. The obligations of the Issuer under this Section shall survive resignation or removal of the Dissemination Agent and payment of the Bonds. Section 12. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of the Issuer,the Dissemination Agent,the Participating Underwriters and Holders and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. Section 13. Rescission Rights. The Issuer hereby reserves the right to rescind this Disclosure Certificate without the consent of the Holders in the event the Rule is repealed by the S.E.C. or is ruled invalid by a federal court and the time to appeal from such decision has expired. In the event of a partial repeal or invalidation of the Rule,the Issuer hereby reserves the right to rescind those provisions of this Disclosure Certificate that were required by those parts of the Rule that are so repealed or invalidated. Date: day of 92022. CITY OF WATERLOO, STATE OF IOWA By: Mayor ATTEST: By: City Clerk D-5 Page 527 of 557 City of Waterloo,Black Hawk County,Iowa $14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A EXHIBIT A NOTICE TO NATIONAL REPOSITORY OF FAILURE TO FILE ANNUAL FINANCIAL INFORMATION Name of Issuer: City of Waterloo,Iowa. Name of Bond Issue: $ Taxable General Obligation Urban Renewal Bonds, Series 2022A Dated Date of Issue: January 4,2022* NOTICE IS HEREBY GIVEN that the Issuer has not provided Annual Financial Information with respect to the above-named Bonds as required by Section 3 of the Continuing Disclosure Certificate delivered by the Issuer in connection with the Bonds. The Issuer anticipates that the Annual Financial Information will be filed by Dated: day of ,20 CITY OF WATERLOO, STATE OF IOWA By: Its: 01960271-1\1 1310-144 D-6 Page 528 of 557 OFFICIAL BID FORM City of Waterloo December 1,2021 715 Mulberry Street Speer Financial,Inc. Waterloo,IA 50703 Facsimile:(319)291-8628 City Council: For the$14,200,000*Taxable General Obligation Urban Renewal Bonds,Series 2022A(the"Bonds"),of the City of Waterloo,Black Hawk County, Iowa (the "City"), as described in the annexed Official Terms of Offering, which is expressly made a part of this bid, we will pay you $ (no less than$14,086,400). The Bonds are to bear interest at the following respective rates(each a multiple of 1/8 or 1/100 of I%)for the Bonds of each designated maturity. AMOUNTS*AND MATURITIES—JUNE 1 $ 720,000.........2023 % $300,000............2029 % $805,000............2036 % 1,035,000.........2024 % 465,000............2030 % 820,000............2037 % 1,045,000.........2025 % 620,000............2031 % 835,000............2038 % 1,260,000.........2026 % 805,000............2032 % 855,000............2039 % 175,000.........2027 % 815,000............2033 % 870,000............2040 % 205,000.........2028 % 835,000............2034 % 885,000............2041 % 850,000............2035 % Any consecutive maturities may be aggregated into term bonds at the option of the bidder,in which case the mandatory redemption provisions shall be on the same schedule as above. Maturities: Term Maturity Maturities: Term Maturity Maturities: Term Maturity Maturities: Term Maturity *Subject to principal adjustment in accordance with the Official Terms of Offering. In submitting this bid,we represent that(i)this bid constitutes a firm offer to purchase the Bonds,and(ii)we have an established industry reputation for underwriting new issuances of municipal bonds and notes. The Bonds are to be executed and delivered to us in accordance with the terms of this bid accompanied by the approving legal opinion of Ahlers&Cooney,P.C.,Des Moines,Iowa. The City will pay for the legal opinion. The Purchaser agrees to pay the fee charged by the CUSIP Service Bureau and will accept the Bonds with the CUSIP numbers as entered on the Bonds. As evidence of our good faith,if we are the winning bidder,we will wire transfer the amount of TWO PERCENT OF PAR(the"Deposit") WITHIN TWO HOURS after the bid opening time to the City's good faith bank and under the terms provided in the Official Terns of Offering for the Bonds. Alternatively,we have wire transferred or enclosed herewith a check payable to the City in the amount of the Deposit under the terms provided in the Official Terms of Offering for the Bonds. Attached hereto is a list of members of our account on whose behalf this bid is made. Form of Deposit(Check One) Account Manager Information Bidders Option Insurance Prior to Bid Opening: Underwriter/Bank We have purchased Certified/Cashier's Check [] insurance from: Wire Transfer [] Address Name of Insurer Within TWO Hours of Bid Opening: Authorized Rep (Please fill in) Wire Transfer [] City State/Zip Premium: Amount: $284,000 Direct Phone ( ) Maturities: (Check One) FAX Number ( ) �_] Years E-Mail Address Ll All The foregoing bid was accepted and the Bonds sold by resolution of the City on December 1,2021,and receipt is hereby acknowledged of the good faith Deposit which is being held in accordance with the terms of the annexed Official Terms of Offering. ATTEST: CITY OF WATERLOO BLACK HAWK COUNTY,IOWA City Clerk Mayor -------------NOT PART OF THE BID--------------- (Calculation o true interest cost Gross Interest $ Less Premium/Plus Discount $ True Interest Cost $ True Interest Rate % TOTAL BOND YEARS 152,293.33 AVERAGE LIFE 10.725 Years Page 529 of 557 OFFICIAL TERMS OF OFFERING $14,200,000* CITY OF WATERLOO Black Hawk County,Iowa Taxable General Obligation Urban Renewal Bonds, Series 2022A The City of Waterloo, Black Hawk County, Iowa, (the "City"), will receive electronic bids on the SpeerAuction ("SpeerAuction") website address "www.SpeerAuction.com" for its $14,200,000* Taxable General Obligation Urban Renewal Bonds, Series 2022A (the "Bonds"), on an all or none basis between 10:00 A.M. and 10:30 A.M., C.S.T., Wednesday, December 1, 2021. To bid electronically, bidders must have: (1) completed the registration form on the SpeerAuction website,and(2)requested and received admission to the City's sale(as described below). The City will also receive sealed bids for the Bonds, on an all or none basis, at City Hall, 715 Mulberry Street,Waterloo, Iowa,before 10:30 A.M., C.S.T., Wednesday, December 1, 2021. The City will also receive facsimile bids at (319) 291-8628 or (319) 291- 4571 for the Bonds, on an all or none basis, before 10:30 A.M., C.S.T., Wednesday, December 1, 2021. Upon receipt, facsimile bids will be sealed and treated as sealed bids, and along with all other sealed bids will be publicly opened and, together with any electronic bids,read. Award will be made or all bids rejected at a meeting of the City on that date. The City reserves the right to reject all bids, to reject any bid proposal not conforming to this Official Terms of Offering, and to waive any irregularity or informality with respect to any bid. Additionally, the City reserves the right to modify or amend this Official Terms of Offering; however, any such modification or amendment shall not be made less than twenty-four (24) hours prior to the date and time for receipt of bids on the Bonds and any such modification or amendment will be announced on the Amendments Page of the SpeerAuction webpage and through Thomson Municipal News. The Bonds will constitute valid and legally binding obligations of the City payable both as to principal and interest from ad valorem taxes levied against all taxable property within the corporate limits of the City without limitation as to rate or amount, all except as limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to the enforcement of creditors' rights generally and except that enforcement by equitable and similar remedies, such as mandamus,is subject to the exercise of judicial discretion. *ADJUSTMENTS TO PRINCIPAL AMOUNT AFTER DETERMINATION OF BEST BID. The aggregate principal amount of the Bonds,and each scheduled maturity thereof,are subject to increase or reduction by the City or its designee after the determination of the Winning Bidder. The City may increase or decrease each maturity in increments of$5,000,but the total amount to be issued will not exceed$14,500,000. Interest rates specified by the Winning Bidder for each maturity will not change. Final adjustments shall be in the sole discretion of the City. The dollar amount of the purchase price proposed by the Winning Bidder will be changed if the aggregate principal amount of the Bonds is adjusted as described above. Any change in the principal amount of any maturity of the Bonds will be made while maintaining, as closely as possible, the Winning Bidder's net compensation, calculated as a percentage of bond principal. The Winning Bidder may not withdraw or modify its bid as a result of any post-bid adjustment. Any adjustment shall be conclusive,and shall be binding upon the Winning Bidder. Bond Details The Bonds will be in fully registered form in the denominations of$5,000 and integral multiples thereof in the name of Cede & Co. as nominee of The Depository Trust Company ("DTC"), New York, New York, to which principal and interest payments on the Bonds will be paid. Individual purchases will be in book-entry form only. Interest on each Bond shall be paid by check or draft of the Bond Registrar to the person in whose name such Bond is registered at the close of business on the fifteenth day of the month next preceding an interest payment date on such bond. The principal of the Bonds shall be payable in lawful money of the United States of America at the principal office maintained for the purpose by the Bond Registrar in West Des Moines, Iowa. Semiannual interest is due June 1 and December 1 of each year, commencing December 1,2022 and is payable by UMB Bank,n.a.,West Des Moines,Iowa(the"Bond Registrar"). The Bonds are dated the date of delivery(expected to be on or about January 4,2022). Page 530 of 557 AMOUNTS*AND MATURITIES—JUNE 1 $ 720,000.....................2023 $300,000........................2029 $805,000.......................2036 1,035,000.....................2024 465,000........................2030 820,000.......................2037 1,045,000.....................2025 620,000........................2031 835,000.......................2038 1,260,000.....................2026 805,000........................2032 855,000.......................2039 175,000.....................2027 815,000........................2033 870,000.......................2040 205,000.....................2028 835,000........................2034 885,000.......................2041 850,000........................2035 Any consecutive maturities may be aggregated into term bonds at the option of the bidder, in which case the mandatory redemption provisions shall be on the same schedule as above. The Bonds due June 1,2023 -2030,inclusive, are non-callable. The Bonds due June 1,2031 -2041,inclusive,are callable in whole or in part and on any date on or after June 1, 2030, at a price of par and accrued interest. If less than all the Bonds are called,they shall be redeemed in any order of maturity as determined by the City and within any maturity by lot. Method of Bidding Electronically Notwithstanding the fact that the City permits receiving bids electronically using SpeerAuction, all bidders must have a signed, but uncompleted, Official Bid Form delivered to Speer Financial, Inc., Suite 608, 531 Commercial Street, Waterloo, Iowa, (319) 291-8628 facsimile, prior to the close of bidding to which a printout of the electronic bid will be attached and delivered to the City. If bidding electronically,all-or-none bids must be submitted via the internet address www.SpeerAuction.com. The use of SpeerAuction shall be at the bidder's risk and expense and the City shall have no liability with respect thereto, including(without limitation)liability with respect to incomplete,late arriving and non-arriving bids. To bid via the SpeerAuction webpage, bidders must first visit the SpeerAuction webpage where, if they have not previously registered with either SpeerAuction, Grant Street Group (the "Auction Administrator") or any other website administered by the Auction Administrator,they may register and then request admission to bid on the Bonds. Bidders will be notified prior to the scheduled bidding time of their eligibility to bid. Only registered broker-dealers and dealer banks with DTC clearing arrangements will be eligible to bid electronically. The "Rules" of the SpeerAuction bidding process may be viewed on the SpeerAuction webpage and are incorporated herein by reference. Bidders must comply with the Rules of SpeerAuction in addition to the requirements of the City's Official Terms of Offering. In the event the Rules of SpeerAuction and this Official Terms of Offering conflict, this Official Terms of Offering shall be controlling. All electronic bids must be submitted on the SpeerAuction webpage. Electronic bidders may change and submit bids as many times as they choose during the sale period but may not delete a submitted bid. The last bid submitted by an electronic bidder before the deadline for receipt of bids will be compared to all other final bids to determine the winning bidder. During the bidding, no bidder will see any other bidder's bid nor the status of their bid relative to other bids (e.g., whether their bid is a leading bid). The electronic bidder bears all risk of transmission failure. Any questions regarding bidding on the SpeerAuction website should be directed to Grant Street Group at(412) 391-5555 x 370. Each bidder shall be solely responsible for making necessary arrangements to access SpeerAuction for purposes of submitting its internet bid in a timely manner and in compliance with the requirements of the Terms of Offering. The City is permitting bidders to use the services of the SpeerAuction solely as a communication mechanism to conduct the internet bidding and the SpeerAuction is not an agent of the City. Provisions of the Terms of Offering and Official Bid Form shall control in the event of conflict with information provided by the Internet Bid System. Page 531 of 557 Electronic Facsimile Bidding: Bids may be submitted via facsimile at (319) 291-8628 or (319) 291-4571. Electronic facsimile bids will be sealed and treated as sealed bids. Neither the City nor its agents will assume liability for the inability of the bidder to reach the above named fax numbers prior to the time of sale specified above. Transmissions received after the deadline will be rejected. Bidders electing to submit bids via facsimile transmission bear full and complete responsibility for the transmission of such bid. Neither the City nor its agents will assume responsibility for the inability of the bidder to reach the above specified fax number prior to the time of sale. Time of receipt shall be the time recorded by the person receiving the facsimile and shall be conclusive. Bidding Parameters and Award of the Bonds All interest rates must be in multiples of one-eighth or one one-hundredth of one percent(1/8 or 1/100 of 1%),and not more than one rate for a single maturity shall be specified. The rates bid shall be in non-descending order. The differential between the highest rate bid and the lowest rate bid shall not exceed six percent(6%). All bids must be for all of the Bonds and must be for not less than$14,086,400. Award of the Bonds: The Bonds will be awarded on the basis of true interest cost, determined in the following manner. True interest cost shall be computed by determining the annual interest rate(compounded semi-annually)necessary to discount the debt service payments on the Bonds from the payment dates thereof to the dated date and to the bid price. For the purpose of calculating true interest cost,the Bonds shall be deemed to become due in the principal amounts and at the times set forth in the table of maturities set forth above. In the event two or more qualifying bids produce the identical lowest true interest cost,the winning bid shall be the bid that was submitted first in time on the SpeerAuction webpage or if all such bids are not submitted electronically,the winning bid shall be determined by lot. The Bonds will be awarded to the bidder complying with the terms of this Official Terms of Offering whose bid produces the lowest true interest cost rate to the City as determined by the City's Registered Municipal Advisor, which determination shall be conclusive and binding on all bidders; provided,that the City reserves the right to reject all bids or any non-conforming bid and reserves the right to waive any informality in any bid. Electronic bidders should verify the accuracy of their final bids and compare them to the winning bids reported on the SpeerAuction Observation Page immediately after the bidding. The premium or discount,if any,is subject to pro rata adjustment if the maturity amounts of the Bonds are changed,maintaining,as close as possible,the same dollar amount of profit per$1,000 bond as bid. The true interest cost of each electronic bid will be computed by SpeerAuction and reported on the Observation Page of the SpeerAuction webpage immediately following the date and time for receipt of bids. These true interest costs are subject to verification by the City's Municipal Advisor,will be posted for information purposes only and will not signify an actual award of any bid or an official declaration of the winning bid. The City or its Municipal Advisor will notify the bidder to whom the Bonds will be awarded, if and when such award is made. The winning bidder will be required to make the standard filings and maintain the appropriate records routinely required pursuant to MSRB Rules G-8, G-11 and G-36. The winning bidder will be required to pay the standard MSRB charge for Bonds purchased. In addition, the winning bidder who is a member of the Securities Industry and Financial Markets Association("SIFMA")will be required to pay SIFMA's standard charge per Bond. Good Faith Deposit and Other Matters The winning bidder is required to a wire transfer from a solvent bank or trust company to the City's good faith bank the amount of TWO PERCENT OF PAR(the"Deposit")WITHIN TWO HOURS after the bid opening time as evidence of the good faith of the bidder. Alternatively, a bidder may submit its Deposit upon or prior to the submission of its bid in the form of a certified or cashier's check on,or a wire transfer from,a solvent bank or trust company for TWO PERCENT OF PAR payable to the Treasurer of the City. The City reserves the right to award the Bonds to a winning bidder whose wire transfer is initiated but not received within such two hour time period provided that such winning bidder's federal wire reference number has been received. In the event the Deposit is not received as provided above, the City may award the Bonds to the bidder submitting the next best bid provided such bidder agrees to such award. Page 532 of 557 If a wire transfer is used for the Deposit, it must be sent according to the following wire instructions: Amalgamated Bank of Chicago Corporate Trust 30 North LaSalle Street 38t'Floor Chicago,IL 60602 ABA#071003405 Credit To: 3281 Speer Bidding Escrow RE: City of Waterloo,Black Hawk County,Iowa bid for $14,200,000* Taxable General Obligation Urban Renewal Bonds, Series 2022A If the wire shall arrive in such account prior to the date and time of the sale of the Bonds. Contemporaneously with such wire transfer, the prospective purchaser shall send an email to biddingescrow@aboc.com with the following information: (1) indication that a wire transfer has been made, (2)the amount of the wire transfer, (3)the issue to which it applies, and (4) the return wire instructions if such prospective purchaser is not awarded the Bonds. The City and any prospective purchaser who chooses to wire the Deposit hereby agree irrevocably that Speer Financial, Inc. ("Speer") shall be the escrow holder of the Deposit wired to such account subject only to these conditions and duties: (i) if the bid is not accepted, Speer shall, at its expense,promptly return the Deposit amount to the unsuccessful prospective purchaser; (ii) if the bid is accepted, the Deposit shall be forwarded to the City, (iii) Speer shall bear all costs of maintaining the escrow account and returning the funds to the prospective purchaser; (iv) Speer shall not be an insurer of the Deposit amount and shall have no liability except if it willfully fails to perform, or recklessly disregards, its duties specified herein; and (v) income earned on the Deposit,if any, shall be retained by Speer. The City covenants and agrees to enter into a written agreement,certificate or contract,constituting an undertaking (the "Undertaking") to provide ongoing disclosure about the City for the benefit of the beneficial owners of the Bonds on or before the date of delivery of the Bonds as required under Section (b)(5) of Rule 15c2-12 (the "Rule") adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934. The Undertaking shall be as described in the Official Statement,with such changes as may be agreed in writing by the Underwriter. The Underwriter's obligation to purchase the Bonds shall be conditioned upon the City delivering the Undertaking on or before the date of delivery of the Bonds. The Bonds will be delivered to the successful purchaser against full payment in immediately available funds as soon as they can be prepared and executed,which is expected to be on or about January 4,2022. Should delivery be delayed beyond sixty(60)days from the date of sale for any reason beyond the control of the City except failure of performance by the purchaser, the City may cancel the award or the purchaser may withdraw the good faith deposit and thereafter the purchaser's interest in and liability for the Bonds will cease. The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts,and interest rates of the Bonds,and any other information required by law or deemed appropriate by the City, shall constitute a"Final Official Statement"of the City with respect to the Bonds, as that term is defined in the Rule. By awarding the Bonds to any underwriter or underwriting syndicate,the City agrees that,no more than seven(7)business days after the date of such award,it shall provide,without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded,up to 50 copies of the Final Official Statement to permit each"Participating Underwriter" (as that term is defined in the Rule)to comply with the provisions of such Rule. The City shall treat the senior managing underwriter of the syndicate to which the Bonds are awarded as its designated agent for purposes of distributing copies of the Final Official Statement to each Participating Underwriter. Any underwriter executing and delivering an Official Bid Form with respect to the Bonds agrees thereby that if its bid is accepted by the City it shall enter into a contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement. Page 533 of 557 By submission of its bid,the senior managing underwriter of the successful purchaser agrees to supply all necessary pricing information and any Participating Underwriter identification necessary to complete the Official Statement within 24 hours after award of the Bonds. Additional copies of the Final Official Statement may be obtained by Participating Underwriters from the printer at cost. The City will, at its expense, deliver the Bonds to the purchaser in New York,New York(or arrange for"FAST" delivery)through the facilities of DTC and will pay for the bond attorney's opinion. At the time of closing, the City will also furnish to the purchaser the following documents, each dated as of the date of delivery of the Bonds: (1) the legal opinion of Ahlers &Cooney,P.C., Des Moines,Iowa,that the Bonds are lawful and enforceable obligations of the City in accordance with their terms; and(2)a no litigation certificate by the City. Purchaser consents to the receipt of electronic transcripts and acknowledges the City's intended use of electronically executed documents. Iowa Code chapter 554D establishes electronic signatures have the full weight and legal authority as manual signatures. The City has authorized the printing and distribution of an Official Statement containing pertinent information relative to the City and the Bonds. Copies of such Official Statement or additional information may be obtained from Kelley Felchle, City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, Iowa, 50703 or an electronic copy of this Official Statement is available from the www.speerfinancial.com website under "Official Statement Sales/Competitive Calendar" or from the Registered Municipal Advisor to the City, Speer Financial, Inc., 531 Commercial Street, Suite 608, Waterloo, Iowa 50701 (telephone(319)291-2077),and 230 West Monroe Street, Suite 2630,Chicago,Illinois 60606(telephone(312) 346-3700). /s/ KELLEY FELCHLE City Clerk CITY OF WATERLOO Black Hawk County, Iowa Page 534 of 557 CITY OF WATERLOO Council Communication Resolution approving regulations governing excluded waste and recycling materials, and authorizing the Mayor and City Clerk to execute said document City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ Recycling Regulations Backup Material Resolution approving regulationsovg erning excluded waste and recycling SUBJECT: materials, and authorizing the Mayor and City Clerk to execute said document. Submitted by: Submitted By: Randy Bennett, Public Works Division Manager Recommended Action: pass resolution Page 535 of 557 REGULATIONS GOVERNING EXCLUDED WASTE AND RECYCLING MATERIALS Title 4, Chapter 3, Section 1 provides that the Public Works manager may establish rules and regulations concerning identification of additional materials constituting Recycling Materials and Excluded Waste. Excluded Waste in Section 1 referenced above includes: hazardous materials, garbage, refuse, yard waste, special waste. The following waste are hereby added to the definition of Excluded Waste: 1. Styrofoam 2. Any item containing Resin Plastic. Examples include, but are not limited to: plant pots, plastic buckets, toys, car trim or parts, tarps, lawn furniture. 3. Plastic plants. 4. Shrink wrap or rolled plastic. 5. Carpeting 6. Appliances 7. Rubber 8. Metal of any kind, except tin and aluminum cans ' 9. Clothing 10. Wood 11. Concrete 12. Glass 2 13. Any item prohibited by signage at a drop off recycling site. Metal is acceptable in the Bulk Item Pick Up Program but is prohibited in Curbside Recycling and the Central Recycling Drop-Off Sites. 2 Glass is acceptable at Central Recycling Drop-Off Sites that have a bin for Glass and the Bulk Item Pick Up Program, but is prohibited in the Curbside Recycling Collection. Recycling Materials in Section 1 referenced above includes: newsprint, magazines, catalogs, cardboard, metal cans, and plastic containers. The following waste are hereby added to the definition of Recycling Materials: 1. Plastic containers means plastic bottles/containers designed to hold food or beverages or household products such as detergent jugs, water bottles, food containers, and milk jugs. 2. Any item allowed by signage at a drop off recycling site. For a complete listing of products accepted and prohibited, please use the QR code provided or click the link below to go to the City's website. Page 536 of 557 ❑• '' % https://www.cityofwaterlooiowa.com/departments/public works/curbside https://www.cityofwaterlooiowa.com/departments/public works/curbside recyclingphp November, 2021 Page 537 of 557 CITY OF WATERLOO Council Communication Discussion of strategy in matters relating to employment conditions of employees not covered by a collective bargaining agreement, pursuant to Iowa Code Section 21.9. City Council Meeting: 11/15/2021 Prepared: Discussion of strategy in matters relating to employment conditions of SUBJECT: employees not covered by a collective bargaining acreement, pursuant to Iowa Code Section 21.9. Submitted by: Submitted By: Page 538 of 557 CITY OF WATERLOO Council Communication September Community Development Board Meeting Minutes and CAPER Public Hearing Minutes City Council Meeting: 11/15/2021 Prepared: 10/21/2021 ATTACHMENTS: Description Type ❑ September board minutes Backup Material ❑ CAPER Public Hearing Minutes Backup Material SUBJECT: September Community Development Board Meeting Minutes and CAPER Public Hearing Minutes Submitted by: Submitted By: Rudy D. Jones, Community Development Director Recommended Action: approval Page 539 of 557 Community Development Meeting Minutes September 21, 2021 I. Call to order John Chiles called to order the regular meeting of the Community Development Board via zoom at 4:00 p.m. on Tuesday, September 21, 2021. Chiles asked for an approval of the agenda for September 21, 2021. It was moved by Leistikow and seconded by Hansen to approve the agenda. Motion carried. II. Attendance: Present: Chairperson John Chiles, Cody Leistikow, Zach Hansen, and Angela Weekley Members Absent: Felicia Carter, Cam Campbell, and Jenna Northey Also Present: Rudy D. Jones, Community Development Director; Anita Rousselow, Administrative Secretary; Angie Fordyce, Community Development Coordinator; Felicia Smith,Neighborhood Services Coordinator; Mindy Smith, Intake Specialist III. Approval of minutes from last meeting Chiles asked for an approval of the minutes of the last meeting on August 17, 2021. It was moved by Hansen and seconded by Weekley to approve the minutes of the meeting on August 17, 2021. Motion carried. IV. Old Business: a) Staff Updates: Staff is trying to stay healthy along with doing the usual daily responsibilities. b) COVID-19 Funding: A meeting will be held on Wednesday, September 22 with Peoples Clinic to discuss the 8, 800 square foot expansion project that Community Development is funding with Round 2 CARES Act funding. Community Development has also received the Round 3 funding that will be used with NE13A food boxes. c) Monitoring: Monitoring is continuing with a few minimal flags being raised. There have been no finding as of yet but staff has asked some sub recipients for clarification on a few nonspecific items. Site Inspections have also been done at Marsh Place and Unity Square. Page 540 of 557 V. New Business: a) Endorse Contracts August 2021: Chiles asked for a motion to approve the contracts. Leistikow made a motion to approve contracts for August 2021 and the motion was seconded by Hansen. Motion carried. b) Neighborhood Services: Smith-Nalls presented a report to the Board which talked about ongoing discussions with Mr Huting about a portion of the Edison site possibly being designated as a park. He suggested a vote with the Leisure Services Commission. Smith-Nalls also discussed possible neighborhood engagement for the Winter Wonderloo Celebration. c) Policy Review for Houses with Minimal Assessed Value-The board started discussions on possibly changing the policy on a minimal home assessment value. It currently is at $17,500. We have run into a handful of homes that have not met this minimal value and after reconsidering this policy we feel that these are the people we especially should be helping. This policy change would eliminate the minimal value and the staff would determine if the repairs were feasible on a project by project basis. If the repair would be considered to be too high as opposed to the value of the home, the determination on whether to proceed with the project would be made at the time that the estimated project cost was done. The board suggested forming a subcommittee to discuss this. Cody L. volunteered to be one of the members. d) HOME American Rescue Plan Funds: The CPD notice came out and we are in the initial phases of discussing what we plan on doing with the funds. VI. Discussion Items: Jones shared that the Mayor has come up with a Waterloo Vision Plan draft. The link was shared with the Board members. VIII.Adjournment Leistikow asked for a motion to adjourn the meeting. A motion was made by Hansen and seconded by Weekley. Motion carried. Meeting Adjourned. Minutes submitted by: Cody Leistikow Minutes approved by: Board Page 541 of 557 Community Development Public Hearing for Citizen Input on the FY2021 Consolidated Annual Performance and Evaluation Report Meeting Minutes September 21, 2021 I. Call to order John Chiles called to order the Public Hearing for the Citizen Input on the FY21 Consolidated Annual Performance and Evaluation Report (CAPER)via zoom at 4:00 p.m. on Tuesday September 21, 2021. Chiles asked for an approval of the agenda for the public hearing for September 21, 2021. It was moved by Weekley and seconded by Leistikow to approve the agenda. Motion carried. II. Attendance: Present: Chairperson John Chiles, Cody Leistikow, Angela Weekley, and Zach Hansen Members Absent: Jenna Northey and Cam Campbell Also Present: Rudy D. Jones, Community Development Director; Anita Rousselow, Administrative Secretary; Angie Fordyce, Community Development Coordinator; Felicia Smith-Nalls,Neighborhood Services Coordinator; Mindy Smith, Intake Specialist III. Motion to Receive and File Affidavit A motion was made by Weekley to receive and place on file an affidavit for proof of publication for the Notice of the Public Hearing that was published on Sunday, September 5, 2021. Hansen seconded that motion. Motion carried. IV. Motion to Open the Public Hearing John Chiles asked for a motion to open the public hearing. Hansen made a motion to open the public hearing and Weekley seconded that motion. Motion Carried. Fordyce and Jones talked about the accomplishments that Community Development had made over the past year. Page 542 of 557 V. Motion to Close the Public Hearing John Chiles asked for a motion to close the public hearing. Hansen made a motion to close the public hearing and Leistikow seconded that motion. Motion Carried. VI. Motion to transmit FY2021 CAPER to the Mayor and Council and forward the final document to HUD. John Chiles asked for a motion to transmit the FY2021 CAPER to the Mayor and Council and forward the final document to HUD. Weekley made a motion to transmit the document and Leistikow seconded that motion. Motion carried. VII. Motion to Adjourn John Chiles asked for a motion to adjourn. It was moved by Hansen and seconded by Weekley to adjourn the meeting. Motion carried. Meeting Adjourned. Minutes submitted by: Cody Leistikow Minutes approved by: Board Page 543 of 557 CITY OF WATERLOO Council Communication Communication from the Human Rights Department on the notice of the conclusion of employment for Shelly Burch,Administrative Secretary, effective October 18, 2021 with recommendation of approval of payout of $3,950.12 for unused benefits. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type Communication from the Human Rights Department on the notice of the SUBJECT: conclusion of employment for Shelly Burch,Administrative SecretajX4 effective October 18, 2021 with recommendation of approval of payout of $3,950.12 for unused benefits. Submitted by: Submitted By: Page 544 of 557 CITY OF WATERLOO Council Communication Communication from the Waterloo Police Department on the notice of the conclusion of employment for Kye Richter, Police Lieutenant, effective September 24, 2021 with recommendation of approval of payout of $9,182.55 for unused benefits. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type Communication from the Waterloo Police Department on the notice of the SUBJECT: conclusion of employment for Kye Richter, Police Lieutenant, effective September 24, 2021 with recommendation of approval of payout of $9,182.55 for unused benefits. Submitted by: Submitted By: Page 545 of 557 CITY OF WATERLOO Council Communication Certified List for the position of Planner II for the City of Waterloo, Iowa Community Planning and Development Department, as certified by the Civil Service Commission on October 15, 2021. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type Certified List for the position of Planner I1 for the City of Waterloo, Iowa SUBJECT: Community Planning and Development Department, as certified by the Civil Service Commission on October 15, 2021. Submitted by: Submitted By: Page 546 of 557 CITY OF WATERLOO Council Communication Certified List for the position of Records Technician for the City of Waterloo, Iowa Police Department, as certified by the Civil Service Commission on October 15, 2021. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type Certified List for the position of Records Technician for the City of SUBJECT: Waterloo, Iowa Police Department, as certified by the Civil Service Commission on October 15, 2021. Submitted by: Submitted By: Page 547 of 557 CITY OF WATERLOO Council Communication Certified List for the position of Police Officer Recruit for the City of Waterloo, Iowa Police Department, as certified by the Civil Service Commission on October 15, 2021. City Council Meeting: 11/15/2021 Prepared: ATTACHMENTS: Description Type Certified List for the position of Police Officer Recruit for the City of SUBJECT: Waterloo, Iowa Police Department, as certified by the Civil Service Commission on October 15, 2021. Submitted by: Submitted By: Page 548 of 557 CITY OF WATERLOO Council Communication Airport Board Meeting Minutes, September 22, 2021. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ Airport Board Meeting Minutes, September 22, 2021 Backup Material SUBJECT: Airport Board Meeting Minutes.; September 22, 2021. Submitted by: Submitted By: Page 549 of 557 i MINUTES WATERLOO REGIONAL AIRPORT BOARD Wednesday September 22, 2021 I. ROLL CALL Chair Arlene Humble called the meeting to order at 12:01 p.m. Board Members Present: Cary Darrah, Scott Voigt, Doug Rathburn, Arlene Humble. Board Members Absent: David Deeds, Gwenne Berry, Todd Holcomb. City Officials Present: Councilmember Margaret Klein. Airport Staff Present: Keith Kaspari, Airport Director and Sheila Combs. Other Attendees: Doug Schindel, AECOM; and, Amie Rivers, The Courier. II. AGENDA AS RECEIVED OR AMENDED Moved by Mrs. Darrah, seconded by Mr. Rathburn, that the agenda be approved as received. Ayes: 3. Motion carried. III. PUBLIC COMMENTS NIA IV. REPORTS A. Airport Director Mr. Kaspari asked if there were any questions on his written report. Mrs. Darrah questioned if there were many flight diversions to Waterloo. Mr. Kaspari explained the circumstances of the diversion to ALO earlier this week, but stated that they don't happen very often. B. Legislative Information&Updates No discussion. C. Misc. Monthly Airport Reports Mr. Kaspari stated that Enplanements were down in August but overall it was not a bad month. Fares continue to be attractive. 1 Page 550 of 557 V. BOARD APPROVAL A. Approval of Minutes of the August 25, 2021 Regular Meeting Mr. Voigt moved that the minutes of the August 25, 2021 meeting be approved, 1 seconded by Mrs. Darrah. Ayes: 3. Motion carried. B. Motion to Receive and File August 2021 Expenses g p Mr. Voigt moved that the August 2021 expenses be received and filed, seconded by Mr. Rathburn. Ayes: 3. Motion carried. C. General Discussion and Staff Request for Airport Board Support for a Multi-Year (3- Years and/or Seasonal) Waiver of Airport Fees for a New Entrant to the Waterloo Market. 'i Mr. Kaspari stated that this could be either a Signatory (Airline has an agreement with the airport) or Non-Signatory (Airline has no formalized agreement with the airport) airline that wants to set up a regular flight schedule, whether the schedule consists of one or more inbound/outbound flights per week, multiple flights per = month, or something seasonal. Mr. Kaspari would like to see continuation of the gambling charters that operated out of ALO in both June and July. He stated that airport fees waived would likely be recouped in parking fees. `1 Mrs. Darrah moved support for a Multi-Year (3-Years) fee waivers, seconded by Mr. Rathburn. Ayes: 3. Motion carried. D. General Discussion and Staff Request for Airport Board Support for Staff Approval to Expend a Not to Exceed amount of $150,000 of ALO's Grant No: 48 for an Airport Digital Video Monitoring and Recording System for the Interior and Exterior of Airline Passenger Terminal, Curbside, Parking Lot and Airside. Mr. Kaspari stated that this would be part of a larger City-wide project and that he was tasked with coming up with funding to cover the cost for the airport system. So moved by Mrs. Darrah, with the caveat that any Airport Monitoring System is part of a larger City plan; seconded by Mr. Voigt. Ayes: 3. Motion carried. VI. OLD BUSINESS A. Verbal Update: Monthly Airfield Construction Mr. Kaspari referenced the pictures included in the Board packet and stated that the airfield construction is on track to be completed by the end of September. B. Verbal Update: Osprey Aviation Mr. Kaspari provided comment that there was no update to report for this meeting. 2 Page 551 of 557 I C. Review of CARES Act and Revised List of Projects (Grant No: 48), Mr. Kaspari and Doug Schindel reviewed the updated list of Capital Improvement Projects. D. Review of Previously Expended Iowa DOT CSVI Grant Projects Completed (2011 — 2020). Mr. Kaspari reviewed the list of CSVI project expenditures for the past 10-Years, including almost $300,000 in improvements to the facilities that the City leases to Livingston Aviation (FBO), to include the General Aviation Terminal Building, Aircraft Storage Hangars 1 —2 —3A—3B and 5, Aircraft T-Hangar Rows A & B, and just over $250,000 for the continued Rehabilitation to Hangar 4. VII. NEW BUSINESS A. General Discussion and Staff Request for Airport Board Support for the Submittal of a Future Black Hawk Gaming Association Grant to Support the Work of the Air Service Working Group for Additional Funds for the Expansion of Scheduled Air Service. There was general discussion by the Board and Staff, and the Board supported Staff's request. B. General Discussion via a Request Received from a Committee at the Center for the Arts to Display Art Work in the Airline Passenger Terminal Building. There was general discussion by the Board. Consensus was that it might be best to use the limited wall space in the Terminal to highlight area attractions rather than just artwork but to keep the discussion open. C. General Discussion and Staff Request for Airport Board Support to Begin a Draft of Specifications and Supplemental Agreement for a Multi-Year Car Rental Concession Effective for the Term of: July 1, 2022 to June 20, 2027. There was general discussion by the Board and Staff, and the Board supported Staff's request. D. General Discussion and Staff Request for Airport Board Support to Begin a Draft for a Multi-Year Airport and Airline Use Agreement Effective May 1, 2022 to April 30, 2024. Mr, Kaspari stated that these dates would coincide with the upcoming EAS bid for Airline Service. 3 Page 552 of 557 E_ General Discussion and Staff Request for Airport Board Support to Begin a Draft for Specifications and a Supplemental Agreement for an RFQ/RFP for a Multi-Year Custodial Services Agreement for the Airline Passenger Terminal Building. i There was general discussion by the Board and Stam and the Board supported Staff's request. VUL STAFF AND BOARD MEMBER COMMENT No comment was provided by Staff or any Board Members, LX. ADJOURNMENT Hearing no objections,Mrs.Humble adjournedthe meeting at 1:16 p.m. Respeetfull�submitted, Arlene Humble,Chairperson i 4 Page 553 of 557 CITY OF WATERLOO Council Communication Design Review Board minutes of August 25 and September 30, 2021. City Council Meeting: 11/15/2021 Prepared: 11/3/2021 ATTACHMENTS: Description Type ❑ 8/25/21 minutes Backup Material ❑ 9/30/21 minutes Backup Material SUBJECT: Design Review Board minutes of August 25 and September 30, 2021. Submitted by: Submitted By: Page 554 of 557 MINUTES HIGHWAY 218 DESIGN REVIEW BOARD REGULAR MEETING—3:00 P.M. August 25, 2021 Zoom Meeting—City Hall Hyberger called the regular meeting of the Highway 218 Design Review Board to order at 3:00 p.m. for the Zoom Meeting at City Hall. I. Roll Call The following members were present: Carty, Kuiper, Wiele, Weber, Jordan-Burg, and Ottesen. Others in attendance were Danielle Bohannon with TG Technical Group, Inc. Staff in attendance was Hyberger. II. Approval of the August 25, 2021 agenda. It was moved by Carty and seconded by Wiele to approve the agenda. Motion carried unanimously. III. Approval of the minutes from their Regular Meeting on April 22, 2021 and Email Meeting on June 9, 2021. It was moved by Carty and seconded by Wiele to approve the minutes from the Regular Meeting on April 22, 2021 and Email Meeting on June 9, 2021. Motion carried unanimously. IV. Decision Items 1. Burger King— 109 Jefferson Street Hyberger gave the staff report noting that staff is recommending approval for the remodel of the Burger King at 109 Jefferson Street. Weber asked the applicant if only the wall signs were being changed. Bohannon indicated that only the wall signs will be changed. Other signs on the property will remain. It was moved by Jordan-Burg and seconded by Weber to approve the request for the remodel of Burger King at 109 Jefferson Street. Motion carried unanimously. V. Discussion Items There were no discussion items. VI. Adjournment With no further business to discuss, it was moved by Carty and seconded by Weber to adjourn the meeting. Motion carried unanimously and the meeting adjourned at 3:10 p.m. Respectfully submitted, _/"j / Seth Hyberger, Planner I Page 555 of 557 MINUTES HIGHWAY 218 DESIGN REVIEW BOARD REGULAR MEETING—3:00 P.M. September 30, 2021 Zoom Meeting—City Hall Ottesen called the regular meeting of the Highway 218 Design Review Board to order at 3:00 p.m. for the Zoom Meeting at City Hall. I. Roll Call The following members were present: Carty, Kuiper, Weber, Jordan-Burg, Hansen, and Ottesen. Others in attendance were Dan Levi and two other persons representing Levi Architecture. Staff in attendance was Hyberger. II. Approval of the September 30, 2021 agenda. It was moved by Carty and seconded by Kuiper to approve the agenda. Motion carried unanimously. III. Approval of the minutes from their Regular Meeting on August 25, 2021. It was moved by Kuiper and seconded by Jordan-Berg to approve the minutes from the Regular Meeting on August 25, 2021. Motion carried unanimously. IV. Decision Items 1.Varsity Cleaners/Milroy's Tuxedos Remodel-Exterior at 216 W 11'Street. Hyberger gave the staff report noting that staff is recommending approval for the remodel of Varsity Cleaners/Milroy's Tuxedos at 216 W 1 lth Street. Members of the HWY 218 Design Review Board did not have any additional questions. It was moved by Jordan-Burg and seconded by Carty to approve the request for the exterior remodel of Varsity Cleaners/Milroy's Tuxedos at 216 W 11th Street. Motion carried unanimously. 2. Landscape Plan for Burger King at 1925 La Porte Road Hyberger gave the staff report noting that staff is recommending approval of the landscape plan. Kuiper noted the species list needs to be updated with species that meet the USDA Zone 4 guidelines. Hyberger indicated he will contact the contractor to get an updated species list that meet the USDA Zone 4 guidelines and forward it to members of the HWY 218 Design Review Board once it is received. It was moved by Jordan-Burg and seconded by Weber to approve the landscape plan with the condition that the species list is updated to include species that are better adapted to Northern Iowa's Climate. Motion carried unanimously. V. Discussion Items There were no discussion items. Page 556 of 557 HIGHWAY 218 DESIGN REVIEW BOARD September 30, 2021 VI. Adjournment With no further business to discuss, it was moved by Carty and seconded by Jordon-Berg to adjourn the meeting. Motion carried unanimously and the meeting adjourned at 3:1 S p.m. Respectfully submitted, Seth Hyberger, Planner I Page 557 of 557