HomeMy WebLinkAbout1990-696-12.26.12990 RESOLUTION NO. 1990-696
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 RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Deputy Clerk/Auditor 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 "I"
Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Description of
Date of Issuance Indebtedness
No. or Expenditures Source Amount Incurred Cumulative Amount
#147 West Park Avenue Contract $ 273,409.61 Advance $ 273,409.61
Paving
#91 Bridge Canopy Contract $ 573,433.57 Advance $ 846,843.18
#152 Fourth Street Contract $ 323,983.56 Advance $ 1,170,826.74
Paving
#28 Bridge Lighting Contract $ 14,396.40 Advance $ 1,185,223.14
Phase I Study Contract $ 15,000.00 Advance $ 1,200,223.14
Phase II Study Contract $ 152,553.00 Advance $ 1,352,776.14
613 Water Acquisition Contract $ 72,500.00 Advance $ 1,425,276.14
UDAG #1 7/17/80 Principal $1,001,627.00 G.O. Bonds $ 2,426,903.14
Interest $ 428,749.00 G.O. Bonds $ 2,855,652.14
Phase III
Study 12/20/80 Contract $ 111,000.00 Advance $ 2,966,652.14
UDAG #2 7/06/81 Principal $ 774,990.00 G.O. Bonds $ 3,741,642.14
Interest $ 422,256.23 G.O. Bonds $ 4,163,898.37
West Side
Parking 7/15/82 Principal $4,725,000.00 G.O. Bonds $ 8,888,898.37
Ramp Interest $4,779,262.50 G.O. Bonds $13,668,160.87
East Side
Parking 8/01/83 Principal $1,500,000.00 G.O. Bonds $15,168,160.87
Ramp Interest $1,073,981.25 G.O. Bonds $16,242,142.12
East Side
Parking 8/01/84 Principal $ 350,000.00 G.O. Bonds $16,592,142.12
Facility Interest $ 325,777.00 G.O. Bonds $16,917,919.12
Conway
Plaza 8/01/84 Principal $ 100,000.00 G.O. Bonds $17,017,919.12
Skywalk Interest $ 93,079.00 G.O. Bonds $17,110,998.12
Resolution No. 1990-696
Page 2
EXHIBIT "I" (continued)
Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Description of
Date of Issuance Indebtedness
No. or Expenditures Source Amount Incurred Cumulative Amount
East Fifth St.
Parking 5/85 Principal $ 50,000.00 G.O. Bonds $17,160,998.12
Ramp Interest $ 46,539.50 G.O. Bonds $17,207,537.62
Tax Redeemed
Properties 5/85 Contract $ 5,004.49 Advance $17,212,542.11
Skywalk
Feasibility
Study 8/85 Contract $ 25,000.00 Advance $17,237,542.11
317 E. 4th
Longfellow
Property 12/85 Contract $ 12,000.00 Advance $17,249,542.11
East Fifth Parking Principal $ 50,000.00 G.O. Bonds $17,299,542.11
Ramp 5/86 Interest $ 37,051.09 G.O. Bonds $17,336,593-20
Ellis Hotel Contract $ 15,000.00 Advance $17,351,593.20
Demolition 8/86
Ellis Hotel Contract $ 27,500.00 WIDA $17,379,093.20
Demolition 8/86
Advance
Paving 6/87 Principal $ 360,000.00 G.O. Bonds $17,739,093.20
Interest $ 233,134.09 G.O. Bonds $17,972,227.29
400 blk E. Fourth Street
500 blk Lafayette
East Fifth Principal $ 100,000.00 G.O. Bonds $18,072,227.29
Street Parking Ramp 6/87 Interest $ 64,759.47 $18,136,986.76
Conway Plaza Phase I Principal $ 100,000.00 G.O. Bonds $18,236,986.76
Skywalk Refinancing 6/87 Interest $ 64,759.47 $18,301,746.23
4th St. Bridge Covered
Walkway 6/88 Contract $ 127,000.00 Advance $18,428,746.23
Conway Plaza
Skywalk 7/88 & 7/89 Loan $ 132,625.00 Advance $18,561,371.23
EXHIBIT "J."
Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received from
No. Year Received Payments under Sec. 402.12(2) Cumulative Amount
1 FY 1977 $ 22,566.19 $ 22,566.19
2 FY 1978 $ 50,863.50 $ 73,429.69
3 FY 1979 $ 163,010.80 $ 236,440.49
4 FY 1980 $ 216,795.08 $ 453,235.57
5 FY 1981 $ 319,027.40 $ 772,262.97
Resolution No. 1990-696
Page 3
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement.
Under Section 403.19*2)
C-�
Amount Received from
0
No. s Year Received Payments under Sec. 402.12(2) Cumulative Amount
0
6 _`Y, 1982 $ 385,731.14 $1,157,994.11
7 FY 1983 $ 476,100.00 $1,634,094.11
8 FY 1984 $ 534,281.00 $2,168,375.11
9 FY 1985 $ 582,411.43 $2,750,786.54
10 FY 1986 $ 773,667.04 $3,524,453.58
11 FY 1987 $ 829,625.00 $4,354,078.58
12 FY 1988 $ 778,965.94 $5,133,044.52
13 FY 1989 $ 607,992.00 $5,741,036.52
14 FY 1990 $1,104,273.00 $7,645,309.52
15 FY 1991 $ 850,000.00* $8,495,309.52
16 FY 1992 $ 900,000.00* $9,395,309.52
4y Fi
* Estimate )
PASSED AND ADOPTED this 26th day of December, 1990.
41 "
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Bernard L. M , n ey,Mayo
ATTEST: 5-I
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Michel e Temeyer, Deputy City/Clerk/Auditor
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