HomeMy WebLinkAboutMemo Taxing Entities Consultation on Rath Urban Renewal Plan Project Amendment 2023CITY OF
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Planning & Zoning Phone: (319) 291-4366 ".
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Memorandum
TO: Linda Laylin, Chairperson, Black Hawk County Board of Supervisors
Dr. Jared Smith, Superintendent, Waterloo Community Schools
FROM: Noel Anderson, Community Planning & Development Director
DATE: October 23, 2023
RE: Rath Urban Renewal and Redevelopment Plan Project Amendment (2023).
Pursuant to Iowa Code Chapter 403.5, please find a copy of the Rath Urban Renewal and
Redevelopment Plan Project Amendment (2023). A consultation to discuss this proposal
will be held on November 3, 2023 at 1:38 p.m. in the Mollenhoff Conference Room
located on the second floor of City Hall, 715 Mulberry Street. Staff is proposing to
amend the Plan to include additional urban renewal projects and to update related
financial summaries of bonding capacity, and project expenses. Please find attached a
copy of the proposed amendment.
If you should have any questions, please do not hesitate to contact our office at
319.291.4366.
cc: TJ Koenigsfeld, Black Hawk County Assessor
Tim Jamison, Black Hawk County Auditor's Office
Prepared by Aric Schroeder, City of Waterloo, 715 Mulberry Street, Waterloo, IA, 50703 319-291-4366
Return to preparer after recording.
AMENDMENT TO
RATH URBAN RENEWAL AND REDEVELOPMENT PLAN
RECITALS
A. On November 19, 1990, the City Council of the City of Waterloo, Iowa (the "City")
adopted Ordinance No. 3749 and Resolution No. 1990-644, determining that
certain areas (the "Original Area") located within the City are eligible and should be
designated as an urban renewal area under Iowa law, and approved and adopted
the Rath Area Redevelopment Plan of the City of Waterloo, Iowa (the "Plan").
B. On June 14, 2004, the City Council adopted Ordinance 4697 and Resolution No.
2004-372, to amend the Plan by extending the property included therein (the
"Amendment No. 1 Area") renaming the Plan as the Rath Urban Renewal and
Redevelopment Plan, and one or more other amendments have been made to the
Plan to include additional urban renewal projects or for other purposes.
C. On July 6, 2009, the City Council adopted Ordinance 4949 and Resolution No.
2009-633, to amend the Plan by extending the property included therein (the
"Amendment No. 2 Area"), and one or more other amendments have been made to
the Plan to include additional urban renewal projects or for other purposes.
D. On December 19, 2022, the City Council adopted Ordinance 5676 and on
December 5, 2022, the City Council adopted Resolution No. 2022-742, to amend
the Plan by extending the property included therein (the "Amendment No. 3 Area"),
and one or more other amendments have been made to the Plan to include
additional urban renewal projects or for other purposes.
D. The City desires to amend the Plan again to include new urban renewal projects
and to update related information in the Plan.
AMENDMENT
NOW THEREFORE, the Rath Urban Renewal and Redevelopment Plan, as previously
amended, is hereby further amended as follows:
1. Attachments C, and D to the Plan are hereby stricken in their entirety, and the
new Attachments C and D which are attached hereto are substituted in their place so that the
Plan shows current information about bonding capacity and project budgets.
2. The attachments listed below, each of which is attached hereto, are included in
this amendment to show compliance with procedural requirements under state law for adoption
of this amendment, but do not replace or supersede similar attachments to the original Plan or
any amendment thereto adopted prior to this amendment:
Attachment H (notice of consultation)
Attachment J (resolution adopting this amendment)
Attachment L (notice of public hearing)
3. Except as modified by this amendment, the Plan, as previously amended, shall
continue unmodified in full force and effect.
PASSED AND APPROVED this 2°th day of November 2023.
ATTEST:
xelTey Fe[ch[e
Kelley Felchle, City Clerk
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Quentin Hart, Mayor
Attachment C
City of Waterloo
Black Hawk County, Iowa
Study of Bonding Capacity as of January 1, 2022
January 1, 2022 Actual Gross Assessed Valuation $4,413,275,637
Legal Bonding Rate 5%
Legal Bonding Limit $ 203,580,256
Less Outstanding G.O. & Other Debt ($ 128,517,458)
Unused Gross bonding Capacity $ 75,062,798
63.13% of legal limit
Attachment D - Rath Urban Renewal and Redevelopment Plan Project Amendment 2023
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Project Proposals
Budgets Changes
Acquisition
$6,000,000
Demolition
$6,000,000
Site Improvements
$1,500,000
Remediation
$2,500,000
Legal fees, consulting fees, and related expenses
associated with administration and operation of
the Urban Renewal Area
$1,000,000
Housing Rehabilitation
$1,000,000
Crystal II Tax Rebates
$176,252
Rath Admin rebates
$1,500,000
Powers Manufacturing rebates
$60,000
A&K Ventures - Kent Orchard; rebates/land grant
$30,000
3 Little Lambs - Black Hawk & 17th; land grant
$40,000
TNT - Black hawk & 18th; land grant
$36,400
SJ Construction - Sycamore street; land grant
$28,000
Buckets Inc. / Secor; land grant
$108,600
Crystal 2018 project Rebates
$1,300,000
Crystal 2020 project Acquisitions
Rebates
Demolition
Total
$3,200,000
$3,600,000
$3,300,000
$10,100,000
Former Pierce Auto Acquisitions
1500 Commercial Demolition
Env. Review
Total
$20,000
$50,000
$20,000
$90,000
3 Little Lambs Acquisitions
(1800 Block Black Hawk) Demolition
Total
$1,000
$100,000
$101,000
5 Bees Land grant
1813 Black Hawk and adj.
Total
$150,000
$150,000
3 Stooges Acq/Land grant
325 W 13th
Total
$96,000
$96,000
South Front Network Land
1400 blk Commercial Realtor
Demolition
Total
$25,000
$6,000
$40,000
$71, 000
Alstadt Langlas Acquisitions
54 Lane St Demolition
Total
$65,000
$550,000
$615,000
A -Line Warehouse Acquisitions
Rooff Ave Rebates
Total
$300,000
$200,000
$500,000
Former Lister Concrete Acquisitions
2116 Commercial St Rebates
Total
$300,000
$200,000
$500,000
$a
Total
$50,000
$350,000
$400,000
$33,502,252 $33,287,252