HomeMy WebLinkAboutWaterloo Martin Road UR Amendment - 11.18.24Prepared by Aric Schroeder, City of Waterloo, 715 Mulberry Street, Waterloo, IA, 50703 319-291-4366
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AMENDMENT TO
MARTIN ROAD DEVELOPMENT PLAN
RECITALS
A. On October 7, 1996, the City Council of the City of Waterloo, Iowa (the "City")
adopted Ordinance No. 4204 and adopted Resolution No. 1999-499, determining
that certain areas located within the City are eligible and should be designated as
an urban renewal area under Iowa law, and approved and adopted the Martin
Road Development Plan of the City of Waterloo Iowa (the "Plan") (Original area).
In accordance with Iowa Code Chapter 403, the Original area was designated as
an "Economic development area" as defined by Chapter 403, and the division of
revenue provided in section 403.19 was limited to twenty years, and has expired,
excluding that portion of the Original area included in a subsequent amendment.
B. On August 9, 2004, the City Council adopted Ordinance No. 4708 and Resolution
No. 2004-522, to amend the Plan by enlarging the area included therein, and one
or more other amendments have been made to the Plan to include additional urban
renewal projects or for other purposes (Amendment No. 1 area).
C. On October 27, 2014, the City Council adopted Ordinance No. 5249 and on
October 20, 2014 adopted Resolution No. 2014-903, to amend the Plan by
enlarging the area included therein, and one or more other amendments have
been made to the Plan to include additional urban renewal projects or for other
purposes (Amendment No. 2 area).
D. On April 4, 2016, the City Council adopted Ordinance No. 5343 and on March 21,
2016 adopted Resolution No. 2016-197, to amend the Plan by enlarging the area
included therein, and one or more other amendments have been made to the Plan
to include additional urban renewal projects or for other purposes (Amendment No.
3 area) (also referred to as March 2016 Additions Area).
E. On November 14, 2016, the City Council adopted Ordinance No. 5373 and
Resolution No. 2016-904, to amend the Plan by removing area included therein,
and one or more other amendments have been made to the Plan to include
additional urban renewal projects or for other purposes (Amendment No. 4 removal
area) (also referred to as November 2016 Removal Area).
F. On November 28, 2016 the City Council adopted Ordinance No. 5376 and on
November 14, 2016 adopted Resolution No. 2016-905, to amend the Plan by
enlarging the area included therein, and one or more other amendments have
been made to the Plan to include additional urban renewal projects or for other
purposes (Amendment No. 5 area) (also referred to as November 2016 Additions
Area).
G. On June 20, 2022 the City Council adopted Ordinance No. 5647 and Resolution
No. 2022-376, to amend the Plan by enlarging the area included therein, and one
or more other amendments have been made to the Plan to include additional urban
renewal projects or for other purposes (Amendment No. 6 area).
H. 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 Martin Road Development 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 (Attachment C), and project budgets
(Attachment D).
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 I (resolution adopting this amendment)
Attachment K (published notice of public hearing)
Attachment L (posted 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 18 day of November
ATTEST:
Kelley Felchle sicNE`o
Kelley Felchle, City Clerk
2
, 2024.
Queft 'z 914 "ctraLL
SIGNED
Quentin Hart, Mayor
Attachment C
City of Waterloo
Black Hawk County, Iowa
Study of Bonding Capacity as of January 1, 2023
January 1, 2023 Actual Gross Assessed Valuation $5,379,355,874
Legal Bonding Rate 5%
Legal Bonding Limit $ 268,967,794
Less Outstanding G.O. & Other Debt ($ 136,127,751)
Unused Gross bonding Capacity $ 132,840,043
50.61 % of legal limit
Attachment D
Project Budget - Martin Road Development Plan 2024
Infill of Greyhound Drive area
EXPENSES
Construction
$6,300,000
Architectural & Engineering Fees
$420,000
Construction Administration
$280,000
TOTAL
$7,000,000
FUNDING
City (Local Option, GO Bonds)
$800,000
City TIF
$2,800,000
Federal/State (MPO, RISE)
$3,400,000
TOTAL
$7,000,000
Infill of Lots along Highway 63 and West Ridgeway Avenue
EXPENSES
Acquisition
$1,800,000
Construction
$2,000,000
Engineering Fees
$240,000
Construction Administration
$80,000
TOTAL
$4,120,000
FUNDING
City (Local Option, G.O. Bonds)
$1,000,000
City TIF
$1,800,000
Federal/State (MPO, RISE)
$1,320,000
TOTAL
$4,120,000
Potential environmental work along corridor
EXPENSES
Assessments
$300,000
Cleanup
$600,000
Wetland Mitigation
$1,500,000
TOTAL
$2,400,000
FUNDING
City (G.O. Bonds)
$400,000
City TIF
$1,300,000
Federal/ State (EPA, DNR)
$700,000
TOTAL
$2,400,000
Changes
Martin Road Area Sanitary Sewer
EXPENSES
Construction
$1,500,000
Total
$1,500,000
FUNDING
City TIF
$1,500,000
Total
$1,500,000
Cedar Valley Crossing Road/Infrastructure
EXPENSES
Construction
$1,200,000
Total
$1,200,000
FUNDING
City TIF
$1,200,000
Total
$1,200,000
Kwik Trip Inc Fuel Blending
EXPENSES
Land Grant
$300,000
Total
$300,000
FUNDING
City TIF
$300,000
Total
$300,000
Deer Creek
EXPENSES
Grant
$800,000
Rebates
$5,542,969
—
Total
$6,342,969
FUNDING
City TIF
$6,342,969
Total
$6,342,969
Cardinal Construction
EXPENSES
Land Grant
$300,000
Rebates
$205,000
Total
$505,000
FUNDING
City TIF
$505,000
Total
$505,000
$3,542,969
$4,342,969
$4,342,969
$4,342,969
3 Stooges Martin Road land grant value
EXPENSES
Land Grant
$200,000
Rebates
$0
Total
$200,000
FUNDING
City TIF
$200,000
Total
$200,000
A&S Properties (Amy Wienands) Grant
EXPENSES
Grant
$420,000
Rebates
$200,000
Total
$620,000
FUNDING
City TIF
$620,000
Total
$620,000
Coordination with IDOT for potential roadway improvements to Highway 63
EXPENSES
Construction
$1,600,000
Engineering
$200,000
Construction Administration
$100,000
TOTAL
$1,900,000
FUNDING
City (Local Option, G.O. Bonds)
$950,000
State (RISE)
$950,000
TOTAL
$1,900,000
Reconstruction of West Ridgeway roadway portion across Black Hawk Creek
EXPENSES
Acquisition
$200,000
Construction
$8,000,000
Engineering Fees
$300,000
Construction Administration
$200,000
TOTAL
$8,700,000
FUNDING
City (Local Option, G.O. Bonds)
$4,350,000
State (RISE)
$4,350,000
TOTAL
$8,700,000
Traffic signalization improvements at major intersections in Corridor
EXPENSES
Acquisition/purchase
$1,200,000
Construction
$900,000
Engineering Fees
$100,000
Construction Administration
$100,000
TOTAL
$2,300,000
FUNDING
State (RISE)
$600,000
City (Local option, G.O. Bonds)
$1,300,000
Federal (MPO)
$400,000
TOTAL
$2,300,000
Acquisition of land throughout corridor for expansion of existing and new business
EXPENSES
Acquisition/purchase
$3,500,000
TOTAL
$3,500,000
FUNDING
City (G.O. Bonds, TIF funds)
$3,500,000
TOTAL
$3,500,000
Public Improvements
EXPENSES
Acquisition
$400,000
Construction/Demolition
3,000,000
Storm Water Improvements
1,000,000
Engineering fees
$200,000
Construction Administration
$200,000
TOTAL
$4,800,000
FUNDING
City (TIF, G.O. Bonds)
$3,900,000
Federal/State (grants, RISE, MPO)
$900,000
TOTAL
$4,800,000
Byrnes Acquatics Facility
EXPENSES
Construction
$9,000,000
Engineering Fees
$1,000,000
Total
$10,000,000
FUNDING
City (G.O. Bonds)
$9,630,000
TIF Funds
$370,000
Total
$10,000,000
Other Martin Road Area road and infastructure improvements
EXPENSES
Acquisition
$600,000
Construction
$2,200,000
Engineering Fees
$100,000
Construction Administration
$100,000
TOTAL
$3,000,000
FUNDING
City (Local Option, G.O. Bonds)
$2,500,000
State (RISE)
$500,000
TOTAL
$3,000,000
310 Upland Drive
EXPENSES
Acquisition
$400,000
Demolition
$300,000
Redevelopment-Platting/Infastructure
$100,000
TOTAL
$800,000
FUNDING
City (Local Option, G.O. Bonds)
$800,000
TOTAL
$800,000
Tax Rebate Projects
EXPENSES
Wilbert
$49,881
Country Estates
44,560
Riley
$13,496
Senad Disderevic
$70,182
JARF
$27,410
Mauer
$58,426
Social Security Building
$175,354
Turnkey PTL
$133,280
Turnkey SVW
$106,238
AVITA
$118,928
Hawkeye Stages
$229,626
Three Stooges (Charm Drive)
$34,000
BCS Properties
$6,000,000
Loves Travel Stop
$700,000
Gubbels
$200,000
M&K Electric (Charm Drive)
$25,000
Warren
$1,000,000
Mid Country
$122,000
Cedar Crossing Storage
$1,100,000
so
so
so
so
so
so
$0
$200,000
A&K - land grant
$175,000
SKS
$35,000
Brent Johnson (Freedom truck wash)
$330,000
Fusion (3530 Mamie Av)
$668,000
Superior Industrial (3460 MarnieAv)
$793,000
TOTAL
$12,209,381
FUNDING
City (G.O. Bonds, TIF funds)
$12,209,381
TOTAL
$12,209,381
so
$0
$9,848,381
$9,848,381
$9,848,381
Legal, Consulting Fees, and expenses associated with administration and marketing of the urban renewal area
EXPENSES
Fees
$1,000,000
TOTAL
$1,000,000
FUNDING
City (G.O. Bonds, TIF funds)
$1,000,000
TOTAL
$1,000,000
TOTAL EXPENSES
Infill of Greyhound Drive area
$7,000,000
Infill of Lots along Highway 63 and West
Ridgeway Avenue
$4,120,000
Potential environmental work along corridor
$2,400,000
Martin Road Area Sanitary Sewer
$1,500,000
Cedar Valley Crossing Road/Infrastructure
$1,200,000
Kwik Trip Inc Fuel Blending
$300,000
Deer Creek
$6,342,969
Cardinal Construction
$505,000
3 Stooges Martin Road land grant value
$200,000
A&S Properties (Amy Wienands) Grant
$620,000
Coordination with IDOT for potential roadway
improvements to Highway 63
$1,900,000
Reconstruction of West Ridgeway roadway
portion across Black Hawk Creek
$8,700,000
Traffic signalization improvements at major
intersections in Corridor
$2,300,000
Acquisition of land throughout corridor for
expansion of existing and new business
$3,500,000
Public Improvements
$4,800,000
Byrnes Acquatics Facility
$10,000,000
Other Martin Road Area road and infastructure
improvements
$3,000,000
310 Upldand Drive
$800,000
Tax Rebate Projects
$12,209,381
Legal, Consulting Fees, and expenses associated
with administration and marketing of the urban
renewal area
$1,000,000
TOTAL
$72,397,350
so
$9,848,381
$67,236,350