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HomeMy WebLinkAbout2009-1168-11/23/2009RESOLUTION NO. 2009-1168 RESOLUTION AUTHORIZING CERTIFICATION TO THE COUNTY AUDITOR THE CITY'S EXPENDITURES THAT QUALIFY FOR REIMBURSEMENT FROM THE TAX INCREMENT FUND. WHEREAS, the Code of Iowa allows the City to collect taxes within a certain geographical district to be deposited in a "Tax Increment Financing Fund", and WHEREAS, certification of the City's expenditures within said district must be made to the County Auditor on a yearly basis. NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA, that the City Clerk be instructed to certify to the County Auditor all expenditures of the City that qualify for reimbursement from the Tax Increment Fund as indicated below: EXHIBIT "A" Cumulative as of June 30, 2009 Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Date of Issuance or Expenditure Source Amount Description of Indebtedness Incurred Cumulative Amount Site Development FY 1996 Principal $220,648.35 1996 GO Bonds $220,648.35 MidPort Blvd. FY 1996 Principal $170,748.90 1996 GO Bonds $391,397.25 Rail Improvements FY 1996 Principal $8,682.75 1996 GO Bonds $400,080.00 Interest $205,357.39 1996 GO Bonds $605,437.39 Loan - Cedar Falls BDC Principal $10,000.00 Advance $615,437.39 Interest 97-00 $1,058.63 $616,496.02 Interest FY 01 $300.00 $616,796.02 Interest FY 02 $275.00 $617,071.02 Basic Materials (AADA) FY 1997 Principal $100,000.00 Advance $717,071.02 Interest 97-00 $10,561.65 $727,632.67 Interest FY 01 $3,000.00 $730,632.67 Interest FY 02 $3,000.00 $733,632.67 Interest FY 03 $3,180.82 $736,813.49 Interest FY 04 $2,537.26 $739,350.75 Interest FY 05 $2,400.00 $741,750.75 Interest FY 06 $2,100.00 $743,850.75 Interest FY 07 $1,800.00 $745,650.75 Interest FY 08 $1,500.00 $747,150.75 Interest FY 09 $1,200.00 $748,350.75 Interest FY 10 $900.00 $749,250.75 Interest FY 11 $600.00 $749,850.75 Interest FY 12 $300.001 $750,150.75 Resolution No. 2009-1168 Page 2 MIDPORT BLVD. RISE PHASE 1 6/97 Principal $129,945.07 1997 GO Bonds $880,095.82 Rail Spur Improvements FY 97 Principal $116,629.00 1998 GO Bonds $996,724.82 Interest $119,366.30 1998 GO Bonds $1,116,091.12 Site Development FY 98 Principal $141,120.56 1998 GO Bonds $1,257,211.68 MidPort Blvd. FY 98 Principal $47,137.12 1998 GO Bonds $1,304,348.80 Rail Spur Improvements FY 98 Principal $77,449.07 1998 GO Bonds $1,381,797.87 Interest $123,689.79 1998 GO Bonds $1,505,487.66 Site Development FY 99 Principal $28,285.68 1999 GO Bonds $1,533,773.34 MidPort Blvd. FY 99 Principal $266,086.66 1999 GO Bonds $1,799,860.00 Sanitary Sewer FY 99 Principal $793,792.01 1999 GO Bonds $2,593,652.01 Interest $707,864.43 1999 GO Bonds $3,301,516.44 Site Development FY 00 Principal $106,524.92 2000 GO Bonds $3,408,041.36 Interest $55,651.00 $3,463,692.36 Sanitary Sewer FY 98-99 Principal $214,142.37 Advance $3,677,834.73 CB Richard Ellis Principal $210,000.00 Contract $3,887,834.73 Water Tap - WTT Principal $4,535.93 Advance $3,892,370.66 Water Tap - Adv. Heat Treat Principal $6,531.29 Advance $3,898,901.95 WTT Properties Tax Rebate TIF Rebate Agreement 100% 2001 $29,912.18 $3,928,814.13 100% 2002 $31,504.14 $3,960,318.27 100% 2003 $32,634.15 $3,992,952.42 Clear Windows Rebate TIF Rebate Agreement 75% 2004 $13,243.08 $4,006,195.50 60% 2005 $0.00 $4,006,195.50 45% 2006 $14,526.00 $4,020,721.50 30% 2007 $8,715.58 $4,029,437.08 15% 2008 $2,347.20 $4,031,784.28 Advanced Heat Treat Rebate TIF Rebate Agreement 100% 2002 $43,149.60 $4,074,933.88 100% 2003 $44,697.34 $4,119,631.22 100% 2004 $46,099.04 $4,165,730.26 Fed Ex Tax Rebate TIF Rebate Agreement 50% 2008 $24,433.25 $4,190,163.51 50% 2009 $26,224.00 $4,216,387.51 50% 2010* $26,294.00 $4,242,681.51 50% 2011* $26,294.00 $4,268,975.51 50% 2012* $26,294.00 $4,295,269.51 Criterion Tax Rebate TIF Rebate Agreement 50% 2008 $3,119.76 $4,298,389.27 50% 2009 $3,080.18 $4,301,469.45 50% 2010* $3,036.00 $4,304,505.45 50% 2011* $3,036.00 $4,307,541.45 50% 2012* $3,036.00 $4,310,577.45 Resolution No. 2009-1168 Page 3 Advanced Heat Treat Rebate 11 TIF Rebate Agreement 50% 2010* $37,584.00 $41348,161.45 50% 2011* $37,584.00 $4,385,745.45 50% 2012* $37,584.00 $4,423,329.45 50% 2013* $37,584.00 $4,460,913.45 50% 2014* $37,584.00 $4,498,497.45 50% 2015* $37,584.00 $4,536,081.45] 50% 2016* $22,550.00 $4,558,631.45! Magee Properties Rebate TIF Rebate Agreement 50% 2009 $6,126.00 $4,564,757.45 50% 2010* $6,126.00 $4,570,883.45 50% 2011* $6,126.00 $4,577,009.45 50% 2012* $6,126.00 $4,583,135.45 50% 2013* $6,126.00 $4,589,261.45 Accurate Gear Rebate TIF Rebate Agreement 50% 2013* $6,372.00 $4,595,633.45 50% 2014* $6,372.00 $4,602,005.45 50% 2015* $6,372.00 $4,608,377.45 50% 2016* $6,372.00 $4,614,749.45 50% 2017* $6,372.00 $4,621,121.45 ConAgra Rebate TIF Rebate Agreement 90% 2010* $440,056.00 $5,061,177.45 90% 2011* $440,056.00 $5,501,233.45 90% 2012* $440,056.00 $5,941,289.45 90% 2013* $440,056.00 $6,381,345.45 90% 2014* $440,056.00 $6,821,401.45 90% 2015* $440,056.00 $7,261,457.45 90% 2016* $440,056.00 $7,701,513.45 90% 2017* $440,056.00 $8,141,569.45 80% 2018* $391,160.00 $8,532,729.45 80% 2019* $391,160.00 $8,923,889.45 70% 2020* $342,266.00 $9,266,155.45 70% 2021* $342,266.00 $9,608,421.45 70% 2022* $342,266.00 $9,950,687.45 60% 2023* $293,370.00 $10,244,057.45 60% 2024* $293,370.00 $10,537,427.45 60% 2025* $293,370.00 $10,830,797.45 50% 2026* $244,476.00 $11,075,273.45 50% 2027* $244,476.00 $11,319,749.45 50% 2028* $244,476.00 $11,564,225.45 50% 2029* $244,476.00 $11,808,701.45 Cedar Valley Economic Development(Marketing) Principal $4,500.00 Contract $11,813,201.45 Midport Sign Fund 412 Principal $51,825.00 412 GO Bonds $11,865,026.45 Interest $23,665.40 412 GO Bonds $11,888,691.85 Midport Sign Fund 411 Principal $11,069.00 411 GO Bonds $11,899,760.85 Interest $7,637.70 411 GO Bonds $11,907,398.55 Cedar Valley FY 2004 Principal $17,500.00 Contract $11,924,898.55 Fund 413 Taxable Principal $200,000.00 413 GO Bonds $12,124,898.55 Interest $76,609.00 $12,201,507.55 Resolution No. 2009-1168 Page 4 Fund 413 Taxable - Reallocate out of Midport Principal ($102,488.00) 413 GO Bonds $12,099,019.55 Interest $38,889.00) $12,060,130.55 Fund 413 Tax Exempt Principal $100,000.00 413 GO Bonds $12,160,130.55 Interest $26,177.00 $12,186,307.55 Fund 413 Tax Exempt - Reallocate out of Midport Principal $55,358.87 413 GO Bonds $12,130,948.68 Interest ($14,490.00) $12,116,458.68 Fund 413 Tax Exempt - Reallocate to Chamberlain Principal $41,466.93 413 GO Bonds $12,074,991.75 Interest $10,856.00) $12,064,135.75 Fund 414 Taxable - Re- allocate out of NE Ind Park Principal $1,000.00 414 GO Bonds $12,065,135.75 Interest $488.00 $12,065,623.75 Greater Cedar Valley Alliance FYE2005 Principal $17,500.00 Contract $12,083,123.75 Greater Cedar Valley Alliance FYE2006 Principal $17,500.00 Contract $12,100,623.75 Greater Cedar Valley Alliance FYE2007 Principal $17,500.00 Contract $12,118,123.75 Greater Cedar Valley Alliance FYE2008 Principal $32,000.00 Contract $12,150,123.75 Greater Cedar Valley Alliance FYE2009 Principal $32,000.00 Contract $12,182,123.75 Greater Cedar Valley Alliance FYE2010 Principal $32,000.00 Contract $12,214,123.75 1998 GO Bonds Refinanced - Deduct Old Debt Service Principal $153,991.00) 1998 GO Bonds $12,060,132.75 Interest ($25,186.00) $12,034,946.75 1999 GO Bonds Refinanced - Deduct Old Debt Service Principal ($482,216.00) 1999 GO Bonds $11,552,730.75 Interest ($173,967.00) $11,378,763.75 1998 GO Bonds Refinanced - Add New Debt Service Principal $155,051.00 2007 GO Bonds $11,533,814.75 Interest $22,397.00 $11,556,211.75 1999 GO Bonds Refinanced - Add New Debt Service Principal $485,540.00 2007 GO Bonds $12,041,751.75 Interest $135,891.00 $12,177,642.75 Fund 409 Taxable Principal $155,000.00 2009 GO Bonds $12,332,642.75 Interest $37,543.26 $12,370,186.01 elter Purchase Principal $349,018.34 Advance $12,719,204.35 IDA Purchase Principal $14,367.18 Advance $12,733,571.53 *Estimated Resolution No. 2009-1168 Page 5 EXHIBIT "B" Cumulative as of June 30, 2009 Project Designation: Airport Tax Increment Redevelopment Area Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Year Received Amount Received from Payments under Sec. 402.12(2) Other Revenue Received Cumulative Amount 1 FY 1996 $0.00 Amount $0.00 2 FY 1997 $0.00 $0.00 3 FY 1998 $0.00 $2,100.00 $0.00 4 FY 1999 $0.00 $0.00 5 FY 2000 $199,485.92 $23,125.00 $199,485.92 6 FY 2001 $173,980.54 50% 2011* $373,466.46 7 FY 2002 $215,717.04 $117,725.00 $589,183.50 8 FY 2003 $226,422.30 $815,605.80 9 FY 2004 $238,607.04 $2,868.00 $1,054,212.84 10 FY 2005 $329,246.96 50% 2011* $1,383,459.80 11 FY 2006 $272,132.01 $132,065.00 $1,655,591.81 12 FY 2007 $352,005.51 $53,241.43 $2,060,838.75 13 FY 2008 $490,903.37 $22,100.85 $2,573,842.97 14 FY 2009 $905,538.28 $24,935.40 $3,504,316.65 15 FY 2010* $905,000.00 $4,409,316.65 *Estimated Exhibit "A" June 30, 2006 (ANNUAL) Project Designation: Airport Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2) No. Date of Issuance or Expenditure Source Description of Indebtedness Cumulative Amount Amount Incurred Basic Materials (AADA) FY 1997 Principal Advance $0.00 Interest FY 06 $2,100.00 $2,100.00 Fed Ex Tax Rebate TIF Rebate Agreement 50% 2008* $23,125.00 $25,225.00 50% 2009* $23,125.00 $48,350.00 50% 2010* $23,125.00 $71,475.00 50% 2011* $23,125.00 $94,600.00 50% 2012* $23,125.00 $117,725.00 Criterion Tax Rebate TIF Rebate Agreement 50% 2008* $2,868.00 $120,593.00 50% 2009* $2,868.00 $123,461.00 50% 2010* $2,868.00 $126,329.00 50% 2011* $2,868.00 $129,197.00 50% 2012* $2,868.00 $132,065.00 Resolution No. 2009-1168 Page 6 Greater Cedar Valley Alliance Principal $17,500.00 Contract $149,565.00 FYE2006 *Estimated PASSED AND ADOPTED this 23rd day of November, 2009. Tim Hurley, Mayor ATTEST: arol Failor, Deputy City Clerk