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HomeMy WebLinkAbout2016-921-11/21/2016 i Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319)291-4323. RESOLUTION NO. 2016-921 RESOLUTION APPROVING CERTIFICATION TO THE BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT QUALIFY FOR REIMBURSEMENT IN THE FY2016 MARTIN ROAD TAX INCREMENT DISTRICT AND PLACE THE CERTIFICATION ON FILE. 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, IOWA, that the City Clerk is instructed to certify to the County Auditor all expenditures of the City that qualify for reimbursement from the Tax Increment Fund in the Martin Road Tax Increment District, as indicated in attached Exhibit "A" and Exhibit "B", are hereby approved. PASSED AND ADOPTED this 21St day of November, 2016. Quentin Hart, Mayor ATTEST: Kelley Fele e City Clerk Schedule"1" Cumulative Expenses'as of June 30,2016 Project Designation; Martin Road Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 3.19(2) DATE OF NO. ISSUANCE OR SOURCE DESCRIP'T'ION OF Cumulative EXPENDITURE INDEBTNESS Amount AMOUNT INCURRED Recording Fees FY 1998-1999 Principal $464.50 1999 GO Bonds $464.50 Design&Construction Engineering FY 1997-2001 Principal $20,328,07 1999 GO Bonds $20,792,57 Construction of Road FY 1999-2001 Principal $165,433.36 1999 GO Bonds $186,225.93 , &SewerFinancing FY 1998-2000 Interest $148,169.07 1999 GO Bonds $334,395.00 Brock Inc.Property 5/18/2004 Princi al Contract P $385,000.00 Contract $719,395.00 Interest $55,598.78 $774,993.78 Denso Project Expenses FY 2004 Principal $51,218.16 2002 GO Bonds $826,211,94 -Fund 412 Interest $20,299.47 2002 GO Bonds $846,511.41 Martin Road FY2006 Principal $100,000,00 Development-Fund 406 2006 GO Bonds $946,511,41 Interest $57,473.78 $1,003,985.19 Denso Tax Rebates Principal TIF Rebate $1,003,985.19 30%2007 $14,055,53 - 30%2008 $1,018,040.72 30%2009 $17,072.82 $1,035,113.54 $18,329.83 $1,053,443,37 30%2010 $18,115.17 $1,071,558.54 30%2011 $18,140.07 $1,089,698.61 Wilbert Vault Rebates Principal TIF Rebate 90%2008 $25,367.50 $1,115,066.11 90%2009 $25,045,82 90%2010 $1,140,111.93 $24,686.00 $1,164,797.93 90%2011 $24,720.00 90%2012 $1,189,517.93 $24,490.00 $1,214,007.93 90%2013 $22,604,00 $1,236,611.93 90%2014 $21,116.00 90%2015 $1.257,727.93 $19,390.00 $1,277,117.93 90%2016 $16,184.00 $1,293,301.93 90°�2017; $15,014.00 $1,308,315.93 Rain Soft Rebates TIF Rebate $1,308,315.93 100% 2009 $12,844.23 $1,321,160.16 100% 2010 Principal $12,698.00 $1,333,858.16 100% 2011 $12,716.00 $1,346,574.16 100% 2012 $12,598.00 $1,359,172.16 100% 2013 $13,124.00 $1,372,296.16 Young Development TIF Rebate (Country Estates) $1,372,296.16 100% 2010 $16,100.00 $1,388,396.16 100% 2011 $16,122.00 $1,404,518.16 100% 2012 $15,972.00 $7,420,490.16 100% 2013 $15,216.00 Principal $1,435,706.16 100% 2014 $14,216,00 $1,449,922.16 100% 2015 $12,756,00 $1,462,678.16 100% 2016 $1,472,778.16 100% 2017* $8,994.00 9. $1,481,772.16 100%2018* $1,494,354.16 2019* 4:a__.:-: $3,02b.74 $1,497,380.90 Schedule'11' Cumulative Expenses as of June 30,2016 Project Designation: Martin Road Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 3.19(2) Stephen Riley TIF Rebate $1,497,380.90 100% 2010 $19,498.00 $1,516,878.90 100% 2011 $19,548.00 $1,536,426.90 100% 2012 Principal $19,368.00 $1,555,794.90 100% 2013 $16,028.00 $1,571,822.90 100% 2014 $14,972.00 $1,586,794.90 100% 2015 $13,496.00 $1,600,290.90 Maurer TIF Rebate $1,600,290.90 100% 2011 $56,178.00 $1,656,468.90 100% 2012 $55,656.00 Principal $1,712,124.90 100% 2013 $65,47200 $1,777,596.90 100% 2014 $61,16400 $1,838,760.90 100% 2015 $58,426.00 $1,897,186.90 JARF(Fahr Beverage) TIF Rebate $1,897,186.90 100% 2011 $22,268.00 $1,919,454.90 100% 2012 $22,06200 $1,941,516.90 100% 2013 Principal $20,642.00 $1,962,158.90 100% 2014 $19,284,00 $1,981,44240 100% 2015 $15,156.00 $1,996,598.90 100% 2016# $2,009,046.90 Watessa TIF Rebate $2,009,046.90 100% 2012 $41,396.00 $2,050,442.90 100% 2013 $48,422.00 $2,098,864.90 100% 2014 $45,238.00 $2,144,102.90 100% 2015 $42,952.00 $2,187,054.90 68% 2016* Principal $25,130.00 $2,212,184.90 50% 2017* $16,600.00 $2,228,784.90 50% 2018* :^;X20;18.8.00 $2,248,972.90 SO% 2019* j 00 $2,269,160.90 50% 2020* $2Q;18'8:00 $2,289,348.90 50% 2021* 20,188.00 $2,309,536.90 Deer Creek $2,304,536.90 2011 $300,000.00 $2,604,536.90 2012 $200,000.00 $2,809,536.90 2013 $200,000.00 $3,009,536.90 2014 $200,000.00 $3,209,536.90 2015 $200,000.00 $3,409,536.90 2016 $200,000.00 $3,609,536.90 2017 $200,000.00 $3,809,536.90 2018 Principal $200,000.00 $4,009,536.90 2019 $200,000.00 $4,209,536.90 2020 $200,000.00 $4,409,536.90 2021 $200,000.00 $4,609,536.90 2022 $200,000.00 $4,809,536.90 2023 $200,000.00 $5,009,536.90 2024 $200,000.00 $5,209,536.90 2025 $200,000.00 $5,409,536.90 2026 $301;658:G4 $5,711,195.54 Corstang Enterprises $5,711,195.54 2013 $38,063.00 $5,749,258.54 2014 Prfncipa! $18,129.00 $5,767,387.54 2015 $0.00 $5,767,387.54 2016 $0.00 $5,767,387.54 PTL Properties,LLC TIF Rebate $5,767,387.54 Schedule"I" Cumulative Expenses as of June 30,2016 Project Designation: Martin Road Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 3.19(2) 100% 2013 $26,946.00 $5,794,333.54 100% 2014 $23,534-00 $5,817,867.54 100% 2015 $21,864.00 $5,839,731.54 100% 2016* $18,612.00 $5,858,343.54 22% 2017* Principal $7;034:00 $5,859,377.54 50% 2018* $10,50200 $5,869,879.54 50% 2019" $1f�;502:00 $5,880,381.54 50% 2020* _`-.;,:.$10502.00 $5,890,883.54 50% 2021* $10,502.00 $5,901,385.54 50% 2022* $10,502;00 $5,911,887.54 SVW Properties,LLC TIP Rebate $5,911,887.54 100% 2013 $27,170.00 $5,939,057,54 100% 2014 $24,396.00 $5,963,453.54 100% 2015 $22,704.00 $5,986,157.54 100% 2016 $14; 90.00 $6,005,547.54 22% 2017* Principal $1,2UN $6,006,751.54 50% 2018* $10,888.00 $6,017,639.54 50% 2019* $10,888.00 $6,028,527.54 50% 2020" $10,888:00 $6,039,415.54 50% 2021* $10,8$$;00 $6,050,303.54- 50% 2022* '$10,088.00 $6,061,191.54 Avita Developments,LLC 50%2016 $6,075,759.54 50%2017* $6,091,977.54 50%2018* $16,218.00 $6,108,195.54 50%2019* Principal $16;218:00 $6,124,413.54 50%2020" $16,21$.00 $6,140,631.54 50%2021* %$10;4MOO $6,156,849.54 50%2022* $162f'$;00 $6,173,067.54 50%2023* $1'627.8.00 $6,189,285.54 Reserves at Ridgeway TIP Rebate $6,189,285.54 50% 2018* $30,440.00 $6,219,725.54 50% 2019* Principal $30,440,00 $6,250,165.54 50% 2020* $80;440.00 $6,280,605.54 50% 2021* $30;440;Oa $6,311,045.54 50% 2022* .$30;440.00 $6,341,485.54 M k KEiectric 70%2018* $3;532•,00 $6,345,017.54 70%2019" :$3;532 00 $6,348,549.54 70%2020* al $6,352,081.54$3,532 00 70%2021* Principal `$3,532.0d $6,355,613.54 65%2022* $3,280.OQ $6,358,893.54 65%2023* $3280 Op $6,362,173.54 65%2024* :$3,280.00 $6,365,453.54 Senad Dizdarevic 80%2017* $8;500:00 $6,374,053.54 80%2018" $8,600;00 $6,382,653.54 80%2019* $000.00 $6,391,253.54 80%2020* $8;600.00 $6,399,853.54 80%2021* Principal $8,600.00 $6,409,453.54- 80% 6,408,453.5480%2022" $6,417,053.54 70%2023* $7,524.00 $6,424,577.54 70%2024* ": $7,524;00 $6,432,101.54 70%2025* $7,5200 $6,439,625.54 Schedule"1" Cumulative Expenses as of June 30,2016 Project Designation, Martin Road Tax Increment Redevelopment Area Schedule 1 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 3.19(2) 1999 GO Bonds Refinanced-Deduct Old Debt Principal $82;407.Q0 $6,357,218.54 Service Interest1999 GO Bonds $29,728;;60 $6,327,490.54 1999 GO Bonds Refinanced-Add New Debt Principal $82,971.00 Service-Fund 407 2007 GO Bonds $6,410,461,54 Interest $23,222.00 $6,433,683.54 Martin Road Dev, FX2007 Principal $50,000.00 2007 GO Bonds $6,483,683.54 (taxable) Interest $17,728.00 $6,501,411.54 Martin Road Dev. FY 2008 Principal $80,000.00 $6,581,411,54 (taxable) Interest 2008 GO Bonds $25,000.00 $6,606,411.54 Corstang Purchase PY2009 Principal $196,020.00 Advance $6,802,431.54 San Sewer Design FY2010 Principal $558.00 Advance $6,802,989.54 San Sewer Design FY2011 Principal $425.50 Advance $6,803,415.04 2002 GO Bonds Refinanced-Deduct Old Debt Principal ($29,403,28) $6,774,011.76 Service 2002 GO Bonds Interest ($5,907.08) $6,768,104.68 2002 GO Bonds Refinanced-Add New Debt Princip al $29,639.76 $6,797,744-44 Service-Fund 410 2010 GO Bonds Interest $3,063,42 $6,800,807,86 2006 GO Bonds Refinanced-Deduct OId Debt principal ($75,000.00) $6,725,807.86 Service 2006 GO Bonds Interest ($20,421,26) $6,705,386.60 2006 GO Bonds Refinanced-Add New Debt Principal :$65;65700 $6'771,043.60 Service-Fund 413(PY13) 2013 GO Bonds Interest $5,788.40 $6,776,832.00 Reallocate Fund 407 G.O.Bonds to San Principal ($48,071.35) $6,728,760.65 Marnan 2007 G.O.Bonds Interest ($17,044.'18 $6,711,716.47 Reallocate Fund 408 G.O.Bonds to San Principal ($80,000.00) $6,631,716.47 Marnan 2008 G.O.Bonds Interest ($25,000,00) $6,606,716.47 2007 GO Bonds Refunded-Deduct Old Debt Principal ($40,115.00) $6,566,601.47 Service 2007 G.O.Bonds Interest ($4,761,00) $6,561,840.47 2007 GO Bonds Refinanced-Add New Debt Principal $40,115.00 $6,601,955.47 Seryice(Fund 414) InteresE7014 G.O.Bonds $3,550,00 $6,605,505.47 Martin Road Dev. PY 2011 Principal $100,000.00 2011 GO Bonds $6,705,505.47 (taxable) Interest $37,730.31 $6,743,235.78 Martin Road Dev. FY2015 Principal $57,000.00 2015 GO Bonds $6,800,235.78 (taxable) Interest $8,683.13 $6,808,918.91 Development Serv. FY2011 Principal $1,200.00 Advance $6,810,118.91 Failor-Hurley Grant FY2011 Principal $80,000.00 Advance $6,890,118.91 Failor-Hurley Grant FY2012 Principal $17.00 Advance $6,890,135.91 Deer Creek Dev, FY2013 Principal $80,000.00 Grant $6,970,135.91 Deer Creek Dev. PY2015 Principal $80,000.00 Grant $7,050,135,91 Administrative Expenses PY15 Principal $4,119.45 Advance $7,054,255.36 San Sewer Design IFY2012 Principal $1,505.00 Advance $7,055,760,36 2016 GO Bonds=:Add New:Debt.Service=' principal $300,000.00 $7,355,760.36 Fund 416 F1<16 ' 2016 GO Bonds Interest $31,963.00 $7,387,723.36 Rath Area,ltedevelopmeiit-Rind 415 FY 2015 principal $220,000,00 $7,607,723.36 GO Bonds IZeafocatlon. ..'; ? T 2016 GO Bonds ' -.Interest $34,999.39 $7,642,722.75 Administrative Expers§FY 16 Advance $8,000.00 $7,650,722,75 Hawke e Stages ED Grant Advance $474,435.50 $6,125,158.25 Wienands ED,Grarit-:7 :. Advance $200,904.00 $8,326,062.25 'estimated Schedule "2" Cumulative Revenue as of June 30, 2016 Project Designation: Martin Road Tax Increment Redevelopment Schedule 2 Indebtedness Qualifying for Tax Increment Reimbursement Under Section 403.19(2 Amount Received from Payments under Sec. Other Revenue No. Year Rece 402.12(2) Received Cumulative Amount 1 PY 1997 $0.00 $0.00 2 FY 1998 $0.00 $0.00 3 FY 1999 $3,573.58 $3,573.58 4 FY 2000 $7,314.98 $10,888.56 5 FY 2001 $76,616.52 $87,505.08 6 FY 2002 $60,214.96 $147,720.04 7 FY 2003 $67,780,85 $215,500.89 8 FY 2004 $74,966.48 $290,467.37 9 FY2005 $123,495.49 $413,962.86 10 FY2006 $150,499.75 $564,462.61- 11 FY2007 $171,278.42 $101,903.67 $837,644.70- 12 FY2008 $204,129.43 $18,939.01 $1,060,713.14 13 FY2009 $255,746.77 $5,108.00 $1,321,567.91 14 FY2010 $249,984.54 $460.98 $1,572,013.43 15 FY2011 $394,612.49 $888.50 $1,967,514.42 16 FY2012 $474,303.10 $32.15 $2,441,849.67 17 FY2013 $564,599.22 $74.41 $3,006,523.30 18 FY2014 $522,759.56 $188.85 $3,529,471.71 19 FY2015 $525,348.24 $583.98 $4,055,403.93 20 PY2016 $557;473151; $4,613,932.04 21 FY2017* $557,473;61 $5,171,405.65 22 FY2018* $55T,473.61 $5 728 879.26 *-Estimated