HomeMy WebLinkAbout1986-689-12.15.1986 RESOLUTION NO. 1986-689
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, that the
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 "F"
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 Expenditure 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 152,553.000 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 7/6/81 Principal 774,990.00 G.O. Bonds 3,741,642.14
Interest 422,256.23 G.Q. Bonds 4,163,898.37
West Side 7/15/82 Principal 4,725,000.00 G.O. Bonds 8,888,898.37
Parking Interest 4,779,262.50 G.O. Bonds 13,668,160.87
Ramp
East Side 8/1/83 Principal 1,500,000.00 G.O. Bonds 15,168,160.87
Parking Interest 1,073,981.25 G.O. Bonds 16,242,142.12
Ramp
East Side 8/1/84 Principal 350,000.00 G.O. Bonds 16,592,142.12
Parking Interest 325,777.00 G.O. Bonds 16,917,919.12
Facility
RESOLUTION NO. 1986-689
PAGE TWO
EXHIBIT "F" (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 Expenditure Source Amount Incurred Cumulative Amount
Conway 8/1/84 Principal 100,000.00 G.O. Bonds 17,017,919.12
Plaza Interest 93,079.00 G.O. Bonds 17,110,998.12
Skywalk
East 5/85 Principal 50,000.00 G.O. Bonds 17,160,998.12
Fifth Interest 46,539.50 G.O. Bonds 17,207,537.62
Street
Parking
Ramp
Tax Redeemed 5/85 Contract 5,004.49 Advance 17,212,542.11
Properties
Skyway
Feasibility
Study 8/85 Contract 25,000.00 Advance 17,237,542.11
317 East 4th
Longfellow
Property 12/85 Contract 12,000.00 Advance 17,249,542.11
EXHIBIT "G"
Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program
Schedule 2
Tax Increment Reimbursement Received
Under Section 403. 19(2)
Amount Received from
No. Year Received Payments under Section 402.12(2) Cumulative Amount
1 6/8/77 22,566.19 22,566.19
2 2/7/78 50,863.50 73,429.69
3 7/12/78 37,597.65 111,027.34
4 11/9/78 61,348.93 172,376.27
5 5/9/79 64,064.22 236,440.49
6 11/79 108,826.00 345,266.49
7 5/80 107,969.08 453,235.57
RESOLUTION NO. 1986-689
PAGE THREE
EXHIBIT "G" (CONTINUED)
Project Designation: Downtown Waterloo Urban Renewal and Redevelopment Program
Schedule 2
Tax Increment Reimbursement Received
Under Section 403.19(2)
`x " ,- Amount Received from
No. (`Year Received Payments under Section 402.12(2) Cumulative Amount
8 . 1981 319,027.40 772,262.97
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9 -2 ,..FY 1982 385,731.14 1,157,994.11
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10 a E 1983 498,275.21 1,626,269.32
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11 ° `Ty, D84 435,280.53 2,168,374.40
12 c F fb85 582,411.43 2,750,785.83
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13 2 F 1986 773,667.04* 3,524,452.87
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14 1987 780,000.00* 4,304,452.87
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Passed and adopted this 15th day of December, 1986
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