HomeMy WebLinkAbout2016-924-11/21/2016 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-924
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE FY2016 RATH
AREA 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 Rath
Area 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:
n
Kelley Fel le
City Clerke'
--- Exhibit„A"
- i—_.._
Cumulative as of June 30,2016 _
Pro}ecE Designation:Rath
ax TIncrement Redeveloumen#Area
Schedule 1 "-
_._
Indebtedness
_ Qualifyingfor Tax Increment Reimbursement
_........_..---
Under Section 403.19(2)
NO OF
DATE OF ISSUANCE OR DESCRIPTION EXPENDITURE SOURCE CUMULATIVE
INDEBTEDNESS AMOUNT i
AMOUNT INCURRED
Rath Demolition 7/12/90 Principal $475,000.00 G,O.Bonds $475,000.00
Interest $214,879.93 G.O.Bonds $689,879.93
Powers Manufacturing Expansion 6/12/91 Princi aI 150000-00 G.O.Bonds 839 879.93
Interest $63,222.49 G.O.Bonds $903,102.42
Powers Manufacturing Expansion 5/15/92 Principal $150,000.00 G.O.Bonds
$1,053,102.42
Interest $60,979.05 G.O.Bonds $1,114,081.47
Powers Manufacturing 6/94 Princi al $300,000.00 G.O.Bonds
$1,414,081.47
Powers Manufacturing Improvements 6/95 Priv iest 08al 250 000.00 G.O.Bonds 1 622 526.87
$1,672,526.87
Interest $22,936.28 G.O.Bonds $1,695,463.15
Administration Fees FX 97 Principal $1,068.51 2000 GO Bonds $1,696,531.66
Recording fees FX98 Principal $1,200.00 2000 GO Bonds $1,697,731.66
Demo Grant-CrystaI Principal $100,000.00 99,00 GO Bonds
$1,797,731.66
Interest on Advance 99-00
Principal $11,178.22 2000 GO Bonds $1,808,909.88
Land Improvements 3-00 Principal $12,400.00 1998 GO Bonds
Interest on$125,846.73 $1,821,309.88
Interest $74,646.27 98,99,00 GO Bonds $1,895,956.15
Crystal Ice Rebate _ 75%2002 Principal $96,488.74 Tax Rebate
60% 2003 $1,992,444.89
$77,119,20
45% 2004 $2,069,564.09
_........_ _._....._._-- $60,475.50 $2,130,039.59
__._...-._ 30% 2005
......"_ $46,819.80 $2,176,859.39
15% 2006 $24076,87 2,200,936,26
Crystal lI Fund 406 Principal $450,000.00 2006 GO Bonds 2,&50,936.26
Interest $25256130 2006 GO Bonds 2,903,497.56
Crystal II Rebate 70% 2016 Principal > '
-- _ $ 6;716:00. Tax Rebate $2,920,213,56
__....-.__ 70% 2017* $16,600.00
70% 2018* $2,936,813.56
—-- $16,600.00 $2,953,413.56
70% 2019* $16,600,00
_ _ 70% 2020* $2,970,013.56
70% 2021* $16600.00 2,986,613.56
$16 600.00 3,003,213.56 II
2022* fi
$16,600.00 3,019,813.56
70% 2023* $16 600.00 3,036,413.56 r
--......_._ I
700% 2024* 16 600.00 3,053,013.56
70% 2025* $16,600.00 3 069,613.56
Rath Area Redevelopment
Fund 411 6/01 p Principal $115,000.00 2001 GO Bonds $3,184,613.56
Interest $54,605.87 2001 GO Bonds $3,239,219.43 IC
Rath Area Redevelopment Principal $29,183.76 2002 GO Bonds
Fund 412 $31268,403.19
Interest $10,890.01 2002 GO Bonds $3,279,293.20
Rath Area Redevelopment Principal $121,885,41 2003 GO Bonds
Fund 413 $3,401,178.61
Interest $29,182.00 2003 GO Bonds $3,430,360.61
Rath Area Redevelopment Fund Princi al 1
413 P $102,488.00 2003 GO Bonds $3,532,848.61
Interest $46,034.00 2003 GO Bonds $3,578,882.61
Rath Area Redevelopment Principal $75,000.00 2004 GO Bonds $3,653,882.61
Fund 414 Interest I
Rath Area Redevelopment Fund Princi $32 317.50 2004 GO Bonds $3,686,200.11
$61,994.76 2004 GO Bonds 3 748194.87 i
414 Taxable From NE Ind.Park Interest $30,268.97 2004 GO Bonds
Rath Area Development Fund Princi al $3,778,463.84
$6&56.31 2004 GO Bonds $3,785,120.15
414 From NE Ind,Park Interest $3,250.34 2004 GO Bonds $3,788,370.49
T999—GO Bonds Refinanced-Deduct Old Debt Principal
Service
($44,472.00) 1999 GO Bonds �I
Service Interest 16 043.00 1999 GO Bonds $3 743 898.49
1999 GO Bonds Refinanced-Add New Debt $3 727 855.49
Principal $44,784.00 2007 GO Bonds $3,7K2,639,491
rt
. . _...._._
----...__ Exhibit"A"
_ -....._
_ Cumulative as of June 30,2016
_._ Project Designation:Rath Tax Increment Redevelo went Area
- _•._ Schedule 1 �
__-_.--Indebtedness QuaIifvingfor Tax Increment Reimbursement i
Under Section 403.19(2)
DATE OF ISSUANCE OR 3
NO EXPENDITURE SOURCE DESCRIPTION OF CUMULATIVE
INDEBTEDNESS AMOUNT
AMOUNT INCURRED
Service-Fund 407 Interest $12 532.00 2007 GO Bonds
2000 GO Bonds Refinanced-Deduct Old Debt $3 785171.49
Princi al
Service $50,413.73 1999 GO Bonds $3 734 757.76
Interest
200D GO Bonds Refinanced-Add New Debt $8123.00 1999 GO Bonds $3 726 634.76
Princi aI $50 413.73 2007 GO Bonds $3 777 048.49
Service-Fund 407 Interest
Rath Area Redevelopment Fund Princi al $316.00 2007 GO Bonds $3 777 364.49
407(taxable) P $150,000.00 2007 GO Bonds $3,927,364.49
Interest $52,301.50 2007 GO Bonds $3,979,665.99 j
Rath Area Redevelopment Fund Principal $100,000.00 2008 GO Bonds $4,079,665.99
408(taxable) c
Interest $27,500.00 2008 GO Bonds $4,107,165.99
Rath Area Redevelopment Fund Principal $50,000.00 2009 GO Bonds $4,157,165.99
409(taxable) Interest $11,665.81 2009 GO Bonds $4,168,831.80
Asbestos Removal-Rath Admin Bldg Principal $125,008.37 Advance $4,293,840.17
2001 GO Bond Or Interest-Ref Interest ($11,023.87) 2001 GO Bonds $4,282,816.30
2009 GO Bonds-2001 GO Bonds Ref Interest $7,472.88 2009 GO Bonds
$4,290,289.18 �
Asbestos Removal-Rath Admin Bldg Principal $122,943.56 Advance
$4,413,232.74 t
Secor Economic Dev Grant $104
1 ,400.00 a
Princip Advance $4,517,632.74
Loan Document Preparation Principal $9,764.34 Advance r
$4,527,397.08
CMC Site Purchase Principal $155,019.00 Advance
$4,682,416.08
Rath Area Redevelopment Fund Principal $350,000.00 2010 GO Bonds $5,032,416.08
410(taxable)
Interest $67,122.08 2010 GO Bonds $5,099,538.16
Rath Area Redevelopment Fund
P Princi at $144,000.00 2010 GO Bonds 5
243
410 tax
$ , ,538.16
{ able) Interest $27,764.69 2010 GO Bonds $5,271,302.85
Rath Public Works Building-Fund 410 Principal
(exempt) P $700,000.00 2010 GO Bonds $5,971,302.85
Interest $93,209.08 2010 GO Bonds $6,064,511.93
2002 GO Bonds Refinanced-Deduct Old Debt �E
Service Princi al L$15,183.76)1. 2002 GO Bonds $6,049,328.17 Z
Interest ($2,797,01) 2002 GO Bonds $6,046,531.16
2002 GO Bonds Refinanced-Add New Debt
Princi aI $15,390.68 2010 GO Bonds j
Service-Fund 4 6 0
l0 $ 61921.84
625 GIenwood Ac
Interest $1450.53 2010 GO Bonds ds $6 063 372.37
Acquisition Principal p $355.00 Advance $6,063,727.37 t!
BCRLF Loan Repaymentmen -CMCClean-up P Principal $280,000.00 Advance
$6,343,727.37Secor RR Spur FY11 $99Ad �l'i
Principal ,111.32 vance $6,442,838.69123 Stanley Acquisition FY11 Principal $359,4
;i
Advance $6,802,297.69
Secor RR Spur FY12
Principal $94,776.85 Advance $6,897,074.54123 Stanley Acquisition tion FY12
-...Principal $100,000.00 Advance
$6,997,074.54
1823 BIack Hawk St AcquisitionFY12 Principal $12,237.92 Advance
$7,009,312.46 gg
Secor RR Spur PY13 Principal r
p $17,999.81 Advance $7,027,312.27 i.
Secor RR Spur FY14
Principal $17 40.73 Advance
2004 GO Bonds Refinanced Fund 414 -Deduct P 'S $7,044,853.00 �
{ ) duct
Princi a1 $40 000.00 2002 GO
Old Debt Service Bonds $7 004 853.00 €
2004 GO Bonds Re Interest $10 355.00 2002 GO Bonds $6 994 498.00
financed(Fund 414) Add New Princi a1 $40 000.00 2010 GO Bands t!
Debt Service-Fund 411 Interest $7 034 498.00
2006 GO Bonds Refinanced Fund 406 -Deduct $5 560.56 2010 GO Bonds $7,040,058.56
Old D ) Princi al $315 000.00 2006 GO Bonds
Debt Service 6,725,058.56
rce
Interest 87 547.52 2006 GO Bonds $
2006 $6,637,511.04
GO Bonds Refinanced
and 406 -Add
Newt
Princi at $315 000.00 2013 GO Bonds $6,952,511.04
Debt Service-Fund 413(FY13) Interest $26047.80 2013 GO Bonds
2003 GO Bonds Refinanced(Fund 413)-Deduct Princi at $6 978 558.84
Old Debt Service $54,851.41 2006 GO Bonds .$6,923,707.43
Interest $5 749.00 2006 GO Bonds
$691795843
i
4.
- Exhibit"A"
Cumulative as of June 30,2016
_ Project Designation.Rath Tax Increment Redevelopment Area
Schedule 1 -
Indebtedness(2uaWying for Tax Increment Reimbursement
Under Section 403.19(2)
NO DATE OF ISSUANCE OR DESCRIPTION OF CUMULATIVE
EXPENDITURE SOURCE INDEBTEDNESS
AMOUNT
AMOUNT INCURRED
2003 GO Bonds Refinanced(Fund 413)-Add New Prim al $54 851.41 2013 GO Bonds 6 972 8Q9.84
Debt Service-Fund 412(FY12) Interest 1 38.19 2013 GO Bonds
2007 GO Bonds Refinanced and Deduct $6,974,348.03
�' }- Princi al $21652.00 2007 GO Bonds $6,952,696.03
Old Debt Service Interest 2 69.00 2007 GO Bonds b 950127.03
2007 GO Bonds Refinanced(Fund 407)-Add New Princi al 21652.00 2014 GO Bonds
Debt Service-Fund 414(FY14) $6,971,779.03
Interest $1916.00 2014 GO Bonds 6 973 695.03
Rath Area Redevelopment Fund Princi aI 370 000.00 2013 GO Bonds .$U43,695.03
413 taxable Interest $49,279.11 2013 GO Bonds $7,392,974.1
Rath Area Redevelopment Fund Principal $85,000.00 2014 GO Bonds $7,477,974.14
414(taxable) Interest $13,051.18 2014 GO Bonds $7,491,025.32
Rath Area Redevelopment Principal $225,000.00 2015 GO Bonds 716 025.32
$7, ,
Fund 415('Taxable) Interest $35,100.14 2015 GO Bonds
6
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Principal $240,000.00 2016 GO Bonds $7,736,126. .07Rath Area Fund 416 s
Interest $26,507.64 2016 GO Bones $7,762,633.71
Administration Expenses FY15 $2,838.32 nce
$7,765,172.03
Adv
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'.....:........... ..s♦.,....:... �s......:•.,r•;16.:•:x:...-., • ,• E
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$7,767,472.03
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EXHIBIT"B"
Cumulative as of June 30, 2016
Project Designation: Rath Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received from
Year Payments under Sec. Other Revenue
]No. :FY
eceived 402.12(2) Received Cumulative Amount
1992 $0.00 $O.flO
2 FY 1993 $0.00
$0.00
3 FY 1994 $0.00 $0.00
4 FY 1995 $0.00
5 FY 1996 $0.00
$22,881.52 $22,881.52
6 FY 1997 $24,374.46
7 FY 1998 $24,812.00 $47,255.98
$72,067.98
8 FY 1999 $44,009.63
9 FY 2000 $116,077.61
$43,454.87 $159,532.48
10 FY 2001 $90,959 54
11 FY 2002 $250,492.02
$171,794.01 $422,286.03
12 FY 2003 $199,314.21
13 FY 2004 $621,600.24
$195,574.51 $817,174.75
14 FY 2005 $273,005.03
$1,090,179.78
15 FY 2006 $243,503.71 $1,333,683.49
16 FY2007 $389,654.09
17 FY20fl8 $38,456.17 $1,761,793.75
18 FY2009 $395,139.29 $14,337.72 $2,171,270.76
19 FY2010 $569,358.38 $5,156.91 $2,745,786.05
20 FY2011 $574,520.69 $1,620.21 $3,321,926.95
21 FY2012 $558,081.89 $1,597.28 $3,881,606.12
$540,285.80 $0.00 $4,421,891.92
22 FY2013 $401,074.75 $0.00 $4,822,966.67
23 FY2014 $398,309.97 $75.64 $5,221,352.28
24 FY2015 $306,768.82 $535.12 $5,528,656.22
25 FY2016 $327,180.82 $207.30
26 FY2017* $5,856,044.34
$365,342.QD $6,221,386,34
27 FY2018* $365,342.00
$6,586,728.34
*estimated Values
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CITY TIF FORM 1-INDEBTEDNESS CERTIFICATION Cover Sheet i
CODE OF IOWA SECTION 403.19 TAX INCREMENT FINANCINGTIF
( ) INDEBTEDNESS
CERTIFICATION TO COUNTY AUDITOR
Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested
Use One Certification Per Urban Renewal Area
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
Urban Renewal Area Number: 07009 (Use five-digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above the
City has outstanding loans, advances, indebtedness, or bonds, none of which have been previously certified, in the
collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2
of Section 403,19 of the Code of Iowa.
ii
Urban Renewal Area Indebtedness Not Previously Certified*:
$ 268,508
*There must be attached a supporting itemized listing of the dates that individual loans, advances, indebtedness, or F
bonds were initially approved by the governing body. (Complete and attach 'CITY TIF FORM 1.1'.)
The County Auditor shall provide the available TIF increment tax in subsequent fiscal years without further certification
until the above-stated amount of indebtedness is paid to the City. However, for any fiscal year a City may elect to
receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or
before the preceding December 1. (File'CITY TIF FORM 2'with the County Auditor by the preceding December 1
for each of those fiscal years where all of the TIF increment tax is not requested.) j
i
A City reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from
the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year
of occurrence. (File'CITY TIF'FORM 3'with the County Auditor when TIF indebtedness has been reduced by any
reason other than application of TIF increment tax received from the County Treasurer.) I
Notes/Additional Information:
i
Please note that we removed$557,091 in debt reductions and revenue adjustments using Form 3 that did not car
to this form. Net debt outstanding at 6/30/2016 should be$1,911,427.69.
1
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Dated this 23rd day of November 2016
IE
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319,291.4323
Signature of Authorized Official
Telephone
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM 1 -INDEBTEDNESS CERTIFICATION
Page 1
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Waterloo County: Black Hawk Ij
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
Urban Renewal Area Number: 07009 (Use five-digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details:
Date Approved*: Tatal Amount:
1. 2016 G.O. Bonds 5/23/2016
Principal:$240,000 266,508
Interest:$26,507.64
Total:$266,507,64
I
I
n X'this box if a rebate agreement. List administrative details on lines above. E
2. Administrative Expenses:$2000.00 6/13/2016
2,000
n'X'this box if a rebate agreement. List administrative details on lines above.
3.
fi
1
[j'X'this box if a rebate agreement. List administrative details on lines above,
4.
If
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Fj'X'this box if a rebate agreement. List administrative details on lines above. E
5.
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[]'X'this box if a rebate agreement, List administrative details on lines above.
If more indebtedness entry lines are needed continue to Form 1.1 Page 2,
* Total For City TIF Form 1.1 Page 1: 268,508
11
Date Approved is the date that the local governing body initially approved the TIF indebtedness.
CITY TIF FORM 3
k
TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
CERTIFICATION TO COUNTY AUDITOR
i
Use One Certification Per Urban Renewal Area
City: Waterloo k
County: Black Hawk
Urban Renewal Area Name: Waterloo Rath Area Urban Renewal
Urban Renewal Area Number: 07009
(Use five-dlglt Area Number Assigned by the County Auditor) E
e
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above, the E
City has reduced previously certified indebtedness, by reason other than application of TIF increment tax received
from the County Treasurer, by the total amount as shown below.
t
Provide sufficient detail so that the County Auditor will know how to specially administer your request. For example,
you could have multiple indebtedness certifications in the Urban Renewal Area, and the County Auditor would need
to know which particular indebtedness certifcation(s)to reduce. If rebate agreements are involved with a reduction, g
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five-digit
county increment taxing district numbers for reference.
Individual TIF Indebtedness Type/Description/Details: Amount
Reduced:
Interest Earned:$207.30
247
Crystal II Tax Rebate Estimate Adjustment:Decrease of$301,884.00 301,884
A
2015 A GO Bonds Transferred to Martin Road Project Principal:220,000 Interest:34,999.39
254,999 R
E
,
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Total Reduction In Indebtedness For This Urban Renewal Area;
557,091
Dated this 23rd day of November 2016
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319.291.4323
Signature of Authorized Official Telephone t
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