The URL can be used to link to this page

Home My WebLink About2024-365-06.17.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2024-365 RESOLUTION AUTHORIZING FUND TRANSFERS, AS LISTED IN EXHIBIT "A" AS REQUIRED BY LAW. BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA, that the following transfers be made during the fiscal year ending June 30, 2024, as listed on attached Exhibit "A". PASSED AND ADOPTED this 17th day of June 2024. Queri-an IlJw/ DIGITALLY SIGNED Quentin Hart, Mayor ATTEST: XeCCey FeCcFiCe Kelley Felchle, City Clerk SEAL City of Waterloo June 30,2024 Fund Transfers-Exhibit A TO FROM PURPOSE,PER STATE LAW ACTUAL Transfer Employee Benefits Levied in the General Fund Trust&Agency Fund Trust&Agency Fund to the General Fund $ 10,772,100.00 Transfer Emergency Levy from the Trust& General Fund Trust&Agency Fund Agency Fund to the General Fund $ 661,968.00 $ 11,434,068.00 Transfer TIF revenue to reimburse the TIF share of General Obligation Bond principal Debt Service Fund Tax Increment Financing Fund and interest $ 4,307,485.00 Transfer sewer revenue to reimburse the sewer share of General Obligation Bond Debt Service Fund Sewer Fund principal and interest $ 2,078,596.00 Reimburse Debt Service Fund for reinvestment district funds received to be used to pay principal on the 2017C bond Debt Service Fund Iowa Reinvestment District Fund issue $ 176,597.00 $ 6,562,678.00 Error from prior Bond payoff and deposits Airport Fund Debt Service not changed $ 308,090.00 Spent in ARPA from June 1,2023-May 31, Grants Fund General Fund 2024 $ 1,311,116.02 Transfer TIF increment funds to reimburse for Business Park Survey in the San Marnan TIF Capital Projects Fund Tax Increment Financing Fund district. $ 81,991.18 Transfer TIF increment funds to reimburse for administrative expenses in the San Marnan Capital Projects Fund Tax Increment Financing Fund TIF district. $ 15,035.00 Transfer TIF increment funds to reimburse for Capital Projects Fund Tax Increment Financing Fund property acquisition in the Rath TIF district. $ 725,000.00 Transfer TIF increment funds to reimburse for administrative expenses in the Rath TIF Capital Projects Fund Tax Increment Financing Fund district. $ 7,907.26 Transfer TIF increment funds to reimburse for Capital Projects Fund Tax Increment Financing Fund property aquisition in the Rath TIF district. $ 3,304.50 Transfer TIF increment funds to reimburse for administrative expenses in the Crossroads TIF Capital Projects Fund Tax Increment Financing Fund district. $ 1,629.00 Transfer TIF increment funds to reimburse for property aquisition in the Northeast TIF Capital Projects Fund Tax Increment Financing Fund district. $ 7,950.00 Transfer TIF increment funds to reimburse for administrative expenses in the Northeast Site Capital Projects Fund Tax Increment Financing Fund TIF district. $ 5,544.00 Transfer TIF increment funds to reimburse for backbone design services in the Northeast Capital Projects Fund Tax Increment Financing Fund Site TIF district. $ 18,080.26 Transfer TIF increment funds to reimburse for administrative expenses in the Martin Road Capital Projects Fund Tax Increment Financing Fund TIF district. $ 6,138.50 Transfer TIF increment funds to reimburse for Capital Projects Fund Tax Increment Financing Fund property cleanup in the Martin TIF district. $ 25,000.00 City of Waterloo June 30,2024 Fund Transfers-Exhibit A TO FROM PURPOSE,PER STATE LAW ACTUAL Transfer TIF increment funds to reimburse for Capital Projects Fund Tax Increment Financing Fund property aquisition in the Martin TIF district. $ 403,402.93 Transfer TIF increment funds to reimburse for the installation of electric lines in the Leversee area in the East Waterloo Unified Capital Projects Fund Tax Increment Financing Fund (Midport)TIF district. $ 34,265.82 Transfer TIF increment funds to reimburse for the design and construction of a sanitary sewer lift station project in the Leversee area in the East Waterloo Unified (Midport)TIF Capital Projects Fund Tax Increment Financing Fund district. $ 61,259.26 Transfer TIF increment funds to reimburse for backbone design services in the East Capital Projects Fund Tax Increment Financing Fund Waterloo Unified(Logan)TIF district. $ 36,160.53 Transfer TIF increment funds to reimburse for the front footage water line project in the Capital Projects Fund Tax Increment Financing Fund East Waterloo Unified (Midport)TIF district. $ 11,625.58 Transfer TIF increment funds to reimburse for administrative expenses in the East Waterloo Capital Projects Fund Tax Increment Financing Fund Unified(Midport)TIF district. $ 1,759.55 Transfer TIF increment funds to reimburse for property acquisition and an economic development grant for North Crossing in the Capital Projects Fund Tax Increment Financing Fund East Waterloo Unified(Midport)TIF district. $ 1,000,000.00 Transfer TIF increment funds to reimburse for the design and construction of the Hyper Drive street project in the East Waterloo Capital Projects Fund Tax Increment Financing Fund Unified (Midport)TIF district. $ 73,538.78 Transfer TIF increment funds to reimburse for environmental expenses in the East Capital Projects Fund Tax Increment Financing Fund Waterloo Unified(Logan)TIF district. $ 23,223.00 Transfer TIF increment funds to reimburse for Gates Park renovation expenses in the East Capital Projects Fund Tax Increment Financing Fund Waterloo Unified(Logan)TIF district. $ 2,750,000.00 Transfer TIF increment funds to reimburse for property demolition in the East Waterloo Capital Projects Fund Tax Increment Financing Fund Unified(Logan)TIF district. $ 39,700.00 Transfer TIF increment funds to reimburse for engineering at the Chamberlain site in the Capital Projects Fund Tax Increment Financing Fund East Waterloo Unified(Logan)TIF district. $ 48,276.92 Transfer TIF increment funds to reimburse for administrative expenses in the East Waterloo Capital Projects Fund Tax Increment Financing Fund Unified(Logan)TIF district. $ 29,107.88 City of Waterloo June 30,2024 Fund Transfers-Exhibit A TO FROM PURPOSE,PER STATE LAW ACTUAL Transfer TIF increment funds to reimburse for property acquisition and an economic development grant for North Crossing in the Capital Projects Fund Tax Increment Financing Fund East Waterloo Unified(Logan)TIF district. $ 1,000,000.00 Transfer TIF increment funds to reimburse for platting and design services in the East Capital Projects Fund Tax Increment Financing Fund Waterloo Unified(Logan)TIF district. $ 23,876.00 Transfer TIF increment funds to reimburse for economic development grant for D&K Hickory House in the East Waterloo Unified Capital Projects Fund Tax Increment Financing Fund (Logan)TIF district. $ 183,276.70 Transfer TIF increment funds to reimburse for administrative expenses in the University Capital Projects Fund Tax Increment Financing Fund Avenue TIF district. $ 5,067.00 Transfer TIF increment funds to reimburse for engineering and construction of University Capital Projects Fund Tax Increment Financing Fund Avenue in the University Avenue TIF district. $ 99,551.80 Transfer TIF increment funds to reimburse for property cleanup in the University Avenue TIF Capital Projects Fund Tax Increment Financing Fund district. $ 20,000.00 Transfer TIF increment funds to reimburse for engineering expenses at the Weisman Steel Capital Projects Fund Tax Increment Financing Fund Site in the University Avenue TIF district. $ 2,299.00 Transfer TIF increment funds to reimburse for property cleanup in the Riverfront Capital Projects Fund Tax Increment Financing Fund (Downtown)TIF district. $ 28,096.69 Transfer TIF increment funds to reimburse for property acquisition and economic development grants in the Riverfront Capital Projects Fund Tax Increment Financing Fund (Downtown)TIF District. $ 614,802.08 Transfer TIF increment funds to reimburse for implementation expenses in the Riverfront Capital Projects Fund Tax Increment Financing Fund (Downtown)TIE District. $ 17,923.82 Transfer TIE increment funds to reimburse for an economic development grant for the CV Sports Courts in the Riverfront(Downtown) Capital Projects Fund Tax Increment Financing Fund TIF District. $ 1,022,016.21 Transfer TIF increment funds to reimburse for engineering and construction at the Cedar River Marina in the Riverfront(Downtown) Capital Projects Fund Tax Increment Financing Fund TIF District. $ 5,294.10 Transfer TIF increment funds to reimburse for the Waterloo Community Playhouse relocation study in the Riverfront Capital Projects Fund Tax Increment Financing Fund (Downtown)TIF District. $ 2,625.00 Transfer TIF increment funds to reimburse for Whitewater design services in the Riverfront Capital Projects Fund Tax Increment Financing Fund (Downtown)TIF District. $ 150,230.00 City of Waterloo June 30,2024 Fund Transfers-Exhibit A TO FROM PURPOSE,PER STATE LAW ACTUAL Transfer TIF increment funds to reimburse for administrative expenses in the Riverfront Capital Projects Fund Tax Increment Financing Fund (Downtown)TIF District. $ 77,108.50 Subtotal-TIF Projects Only $ 8,662,066.85 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the San Marnan TIF district. $ 39,809.14 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the Rath TIF district. $ 29,317.57 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the Crossroads TIF district. $ 18,221.94 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the NE Site TIF district. $ 15,429.67 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the Martin TIF district. $ 20,409.05 Transfer TIF increment funds to reimburse for salaries in the East Waterloo Unified General Fund Tax Increment Financing Fund (Midport) TIF district. $ 37,295.10 Transfer TIF increment funds to reimburse for salaries in the East Waterloo Unfied(Logan) General Fund Tax Increment Financing Fund TIF district. $ 28,795.13 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the Schoitz TIF district. $ 913.77 Transfer TIF increment funds to reimburse for General Fund Tax Increment Financing Fund salaries in the University Ave TIF district. $ 12,873.24 Transfer TIF increment funds to reimburse for salaries in the Riverfront(Downtown)TIF General Fund Tax Increment Financing Fund district. $ 43,872.39 Subtotal-TIF Administration $ 246,937.00 Subtotal-TIF Projects&Admin $ 8,909,003.85 TOTAL TRANSFERS $ 28,524,955.87