HomeMy WebLinkAbout09.19.2022 Work SessionCOUNCIL WORK SESSION
September 19, 2022
4:15 p.m.
Harold E. Getty Council Chambers
Members present: Boesen, Nichols, Amos, Chiles, Grieder, Wilder. Absent: Mr. Feuss.
100779 - Grieder/Chiles
that the Agenda, as proposed, be approved. Voice -vote Ayes: Six. Motion carried.
Objective: Discussion of establishing a Self -Supported Municipal Improvement District in
Downtown Waterloo.
Jessica Rucker, Executive Director of Main Street Waterloo, provided an overview of the
downtown area seeking to establish a Self -Supported Municipal Improvement District (SSMID).
She explained the SSMID would be used to promote continued economic
development/redevelopment and business growth and retention within the adopted District. A
SSMID Oversight Committee will be responsible for setting project priorities and making
recommendations for expenditures of the SSMID funds made up of property owners, business
owners, and community members. The city would be asked to provide a one to one match of
the revenue collected with the SSMID. The three strategies the funds would be utilized to
execute include the following: Providing resources for coordinated Downtown Waterloo
Marketing; improve the long-term physical appearance of Downtown Waterloo; and provide
resources for sustainable economic development in Downtown Waterloo.
Mr. Amos commented when he first got on council SSMID was talked about but was under the
impression it died from lack of interest from business owners. He questioned what other cities
are doing with SSMID and the funds they receive from the city.
Jessica Rucker explained that other cities both in and out of Iowa have this program, but we
would be the first to include a city to match with the SSMID dollars, which will move projects
forward at a faster pace. They did a feasibility study in 2020 and an overwhelming response
from business owners in support of implementing SSMID. The property owners are recognizing
the benefit of what SSMID dollars can do in making an impact in our downtown.
Mr. Boesen commented that when he met with Jessica Rucker it was stated that the city match
would come from TIF.
Jessica Rucker explained that she does not know where the funds would come from, but would
like to meet with the city to discuss the matter.
Mr. Boesen questioned if 25% would be attained if JSA signed onto the petition.
Jessica Rucker shared that they would have 25% if JSA signs on, as they own most of the parcels.
Several property owners are waiting on signing off to see what the city thinks of the SSMID, as
they want to see the city match the SSMID funds.
Mr. Boesen asked if the professional services agreement of $60,000.00 would be on top of the
$170,000.00.
Jessica Rucker shared that professional services agreement is separate from this. These specific
dollars would not go to the Main Street operational costs but specifically to the beautification
and economic development projects.
Mayor Hart commented that when Main Street lost the SSMID the city increased funding to
Main Street to fill the gap.
Mr. Chiles shared that his only concern is that he would like to see council have a voting position
on the committee since the city is providing an investment in the SSMID.
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Mr. Grieder questioned if the asking will change based on the assessed value of the properties.
Jessica Rucker confirmed that it would change with the county's annual assessment.
Mr. Boesen questioned what happens if a property owner does not want to participate in SSMID.
Jessica Rucker explained that the property owner would have to pay regardless of whether they
support SSMID.
Mayor Hart questioned who would negotiate economic development deals within SSMID.
Jessica Rucker stated that it would be through a partnership with the city. The city does a great
job with overall economic development; Main Street will be focusing on the smaller ones that
are specifically in downtown.
Mayor Hart questioned if there would no longer be an expectation that the city work on behalf
of some of the deals since $177,000 is going towards the SSMID.
Jessica Rucker explained that if a particular economic development could be handled by Main
Street alone, then the SSMID funding would be used.
Mayor Hart questioned if more council could be added as part of the voting body since the city
is putting up half the money because it would no longer be self-supporting, it would be self and
municipal supporting.
Jessica Rucker commented that she could take that to the board of directors but it is something
that could be on the table.
Mr. Nichols questioned why they are shooting for 76 percent in agreement.
Jessica Rucker explained that it would then only require a majority of council to vote in favor of
the SSMID. Otherwise, it would have to be a super majority vote.
100780 - Grieder/Chiles
that the meeting be adjourned at 4:41 p.m. Voice -vote Ayes: Six. Motion carried.
?CCey FeCckCe
Kelley Felchle
City Clerk