HomeMy WebLinkAbout2012-1126-11/19/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-1126
RESOLUTION AUTHORIZING CERTIFICATION TO THE
COUNTY AUDITOR THE CITY'S EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT FROM THE TAX
INCREMENT FUND IN THE SAN MARNAN TAX
INCREMENT DISTRICT.
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 HEREBY RESOLVED BY THE COUNCIL OF THE
CITY OF WATERLOO, IOWA, that the City Clerk be instructed to
certify to the County Auditor all expenditures of the City that
qualify for reimbursement from the Tax Increment Fund in the San
Marnan Tax Increment District, as indicated in attached Exhibit
"A" and Exhibit "B", be and the same are hereby approved.
PASSED AND ADOPTED this 19th day of November, 2012.
rnest G. Clark, Mayor
ATTEST:
CL
Suzy Scares, CMC
City ClIrk
EXHIBIT "A"
June 30, 2012
Project Designation: San Marnan Tax Increment Development Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No.
Date Of Issuance
or Expenditure
Source
Description of Indebtedness Cumulative
Amount
AMOUNT INCURRED
Land Acquisition FY 1999
$548,856.00 Contract debt $548,856.0
$106,427.98 $655,283.98
$42,502.01 $697,785.99
$16,795.35 $714,581.34
$11,094.86 $176,820.20
$12,570.24 $82,962.46
$12,303.70 $52,764.15
$7,665.0 $758,21523
Interest FY 02
Interest FY 03
Interest FY 04
Interest FY 05
Interest FY 06
Interest FY 07
Interest FY 08
Road FY 1999
Recording Fees FY 99
Principal
$2,373.60 G. 0. Bonds $760,588.83
Design & Construction Eng.
Principal
$15,419.70 G. O. Bonds $776,008.53
Construction of Rd & Sewer
Principal
$78,364.41 G. 0. Bonds $854,372.94
Financing FY 98-00
Interest
$64,919.28 G. 0. Bonds $919,292.22
GMAC Tax Rebates
Principal
TIF Rebate
$126,460.5 $1,045,752.7
$121,497.60 $1,167,250.32
$105,821.10 $1,273,071.42
$72,557.49 $1,345,628.91
$31,691.70 $1,377,320.61
75% 2003
60% 20
45% 2005
3091 200
15% 200
VGM Tax Rebates
Principal
TIF Rebate
509/6 2009
$50,788.00 $1,428,108.61
509/62010
$152,742.00 $1,580,850.61
56'/—.2 011
$102,094.00 $1,682,944.61
509/6 201
$101,146.00 $1,784,090.61
So%2013•
$101,146.00 $1,885,236.61
CV Medical HQ
Principal
TIF Rebate
509/6 200
$117,232.07 $2,002,468.68
509% 201
$86,068.00 $2,088,536.68
509/6 2011
$86,186.00 $2,174,722.68
50%2012
$55,455.01 $2,230,177.69
509r 2013•
$0.00 $2,230,177.69
WW Grainger, Inc.
$2,230,177.69
1009 201
$186,234.00 $2,416,411.69
100%2013w
$186,234.00 $2,602,645.69
100% 2014*
$186,234.00 $2,788,879.69
1009/6 2015*
$186,234.00 $2,975,113.69
1009/6 2016•
$186,234.00 $3,161,347.69
1009% 2017'
$186,234.00 $3,347,581.69
491/62018*
$91,254.00 $3,438,835.69
Financial Resource Advisors
Principal
TIF Rebate $3,438,835.69
1001/62012
$74,596.00 $3,513,431.69
1001/6 2013•
$72,824.00 $3,586,255.69
100% 20109•
$72,824.00 $3,659,079.69
100% 2015;
$72,824.00 $3,731,903.69
100% 2016`
$72,824.00 $3,804,727.69
1001/6 2017"
$72,824.00 $3,877,551.69
52% 2018*
$37,868.00 $3,915,419.69
CBE Land Purchase
Principal
$740,000.00 2005 GO Bonds $4,655,419.69
Interest
$245,900.00 2005 GO Bonds $4,901,319.69
VGM Access Road
Principal
$600,000.00 2005 GO Bonds $5,501,319.69
Interest
$197,330.00 2005 GO Bonds $5,698,649.69
VGM Fund 406 - FY2006
Principal
$400,000.00 2006 GO Bonds $6,098,649.69
EXHIBIT "A"
June 30, 2012
Project Designation: San Marnan Tax Increment Development Area.
Schedule 1
Indebtedness
Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Interest $223,315.02 2006 GO Bonds
$6,321,964.71
San Maran Development
Fund 407 FY2007
Principal $100,000.00 2007 GO Bonds
Interest $35,153.50 2007 GO Bonds
$6,421,964.71
$6,457,118.21
San Maman Development
Fund 408 FY2008
Principal $200,000.00 2008 GO Bonds
Interest $59,000.00 2008 GO Bonds
$6,657,118.21
$6,716,118.21
L&H Farts
Advance $439,179.2 Advance
$7,155,297.41
Dry Run Sewer Study (FY10)
Advance $19.69 Advance
$7,155,317.10
Dry Run Sewer Study (FYI 1)
Advance $9,539.75 Advance
$7,164,856.85
L&H Farms
Advance $751,943.25 Advance
$7,916,800.10
Env. Site Assessment
Advance $5,999.28 Advance
$7,922,799.38
FY12 GCVA
Principal $16,167.001 Contract 1
$7,938,966.38
* Estimated
EXIMIT "B"
June 30 2012
Project Designation:
San Marnan Tax Increment Development
Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No.
Year Received
Amount Other Revenue
Received from Received
Payments under
Cumulative Amount
1
FY 1997
$0.00
$0.00
2
FY 1998
$0.00
$0.00
3
FY 1999
$0.00
$0.00
4
FY 2000
$0.00
$0.00
5
FY 2001
$0.00
$0.00
6
FY 2002
$115,934.72
$115,934.72
7
FY 2003
$146,872.14 $180,000.00
$442,806.86
8
FY 2004
$177,843.34
$620,650.20
9
FY 2005
$205,851.80
$826,502.00
10
FY2006
$214,330.06
$1,040,832.06
11
FY2007
$199,764.79 $6,118.47
$1,246,715.32
12
FY2008
$395,258.07 $10,724.47
$1,652,697.86
13
FY2009
$690,161.90 $1,252.06
$2,344,111.82
14
FY2010
$715,267.61 $943.98
$3,060,323.41
15
FY2011
$898,340.12 $353.67
$3,959,017.20
16
FY2012
$1,057,234.37 $995.06
$5,017,246.63
17
FY2013*
$1,057,234.37
$6,074,481.00
*Estimated