HomeMy WebLinkAbout2016-925-11/21/2016 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-925
RESOLUTION APPROVING CERTIFICATION TO THE
BLACK HAWK COUNTY AUDITOR EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT IN THE FY2016 SAN
MARNAN TAX INCREMENT DISTRICT AND PLACE THE
CERTIFICATION ON FILE.
WHEREAS, the code of Iowa allows the City to collect taxes within a certain
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geographical district to be deposited in a Tax Increment Financing Fund and
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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 San
Marnan Tax Increment District, as indicated in attached Exhibit"A" and Exhibit`B", are hereby
approved.
PASSED AND ADOPTED this 21St day of November,2016.
rM � ��
Quentin Hart, Mayor
ATTEST:
) / � 4/1 , --I /� 'It,�
elley Felchl
City Clerk
EXHIBIT"All
June 30,2016
!!:-SRn Mai-non Tax Increment Development Area
Schedule I
Indebtedness Qualifying for—Tax Increment Reimbursement
....... Under Section 403.1'9'(---
No, Date Of Issuance Source Description of Indebtedness Cumulative
or Expenditure Amount
AMOUNT INCURRED
Land Acquisition FY 1999-- —
$548,856.00 Contract debt $548,856,00
Interest FY 02 §106,427.98 $655,283.98
Interest FY 03 $42,502.01 $697,785.99
Interest FY 04 $16,795.35 --$714,581.34
-T-t,,,.,t FY 05 1,094.86 $176,820.20
Interest FY 06 $12,570.24 $82,962.46
Interest FY 07 $12,303.70 $52,764.15
Interest FY 08 $7,665.09 —$758,215.23
Road FY 1999
Recording Fee,FY 99 Principal
$2,373.60 G.0,Bonds $760,598.83
Design&Construction Eng. Principal —$15,419.70 G.—0
Bonds $776,008.53
Constrac(ion of Rd&Sewer Principal $78,364.41 G,0.Bonds $854,372.94
Financing FY 9860Interest—
$64,919.28 G,O.Bonds $919,292,22
GMAC Tax Rebates Principal TIF Rebate
75%2003 460.50 $1 045 752,72
60%2004 $121,497.60 $1.167,250.32
45-/.2005 $105,821.10 $1,273,071.42
30%2006
$72,557.49 $1,345,628.91
15%2om $31,691.70 $1,377,320.61
VGM Tax Rebates Principal
TIF Rebate
50-/.2006
$50,788,00II
$1,428,108.61
50Y.2010 $1523742.00 $1,580,850.61
50%2011
$102,094.00 $1,682,944.61
50%2012
$101,146.00smr,2013 $1,784,090.61
$111,138-00 $1,895,228,61
CV Medical HQ
Principal TIF Rebate
50%200
$117,232.07 $2,012,460.68
50%2010
$86,068.00 $2,098,528.68ii
50%2011
$86,186.00 $2,184,714.68
50%2012 $55,455.01
50%206 $2,240,169.69 gg
WW Grainger,Inc. $0.00 $2,240,169.69
$2,240,169.69
100%2012
$186,234.00
'426,403.69
100%205
$193,342.00 $2,619,745,69
1001/42014
$180,624.00 $2,800,369.69
10(M201 $174,488.00 $2,974,857.69
100%2016
0%2016 UK3�
100%20iii 4M7ft' _ $3,135,145.69
$166,238.00 $3,301,383.69
49%201g' $81,456.00 $3,382,839,69
Financial Resource Advisors—P t
rIncipal
TIF Rebate $3,382,839.69
$74,596.00 $3,457,435.69
I 00Y.2013 $72,824.00
100%2014
...... — $3,530,259.69
.—__ $68,034.00..........— $3,598,293.69
I Ofto 2015
$65,090.00 $3,663,383.69
100V
.2016*
-- $58,724.00 $3,722,107.69
100%2017-
$61,338.001.. $3,783,445.69
$31,896.00
$3,815,341-69
Principal TIF Rebate
100%2013 $100,128.00 —T3—,915�469,69
..........�06%2014 $46,216,00 --T37961 68-5.69
100%2015 $22,240.00 $3,983,925.69
GO America —Principal TIF Rebate
EXHIBIT
-- June 30,2016
Prosect I?esi nation:San M rnan Tax Increment Develo ment Area
Schedule 1
Indebtedness nail in for Tax Increment Reimbursement
Under Section
12017-
0,
$22,451.00 ._
1 $4,006,376.69
- $4,045,444.69
1 ..
3. 39454Q0 $4,084,898.69
l $4,126 146.69
$4,159,144.69
•��;sez$��`99800
MBAK Principal
tool 2aia TIF Rebate
$57,124.00 $4,216,268.69
100%2015 $54,500.00 $4,270,768.69
1001A 2016 $52,576.00 $4,323,344,69
100%2017+
$:48'j....:96. $4,372,250.69
laoy zola• $52,576.00
100%2019) $4,424,826.69
$52,576.00 $4,477,402.69
100%2020+ $52,576.00
36%2021' $4,529,978.69 E
$18,928.00 $4,548,906.69 €
Cardinal Veterans Clinic Principal TIF Rebate
89%2014 $56,326.00 $4,605,232.69
s9•i zols $27,073.00 $4,632,305.69
._~ ... 89%2016 .
>ii= 7873:'bU $4,710,178.69
11M.2017+ $51,840.00
89%io18+ $4,762,018.69
-•• $51,840.00 $4,813,858.69 '
` 89%2019• $51,840.00
89 2020= $4,865,698.69
89%2021+
$51,840.00 $4,917,538.69
$51,840.00
$4,969,3
• 78,69
99%2022* $51,840.00
895:2023= $5,021,218.69 t
$51,840.00 $5,073,058.69
MFGC,LLC Principal TIF Rebate
MA 2016 ,,. �, .
71.1 1017+ 55522Q.Q $5,098,610.69
7iyzols $28,344.00 $5,126,954.69
' $28,344.00
71%2019, $5,155,298.69 s
$28,344.00 $5,183,642.69 If
71%2020+
71%20214 $28,344.00 $5,211,486.69 �(
$28,344.00 $5,240 330,69
71%2022+ '
--- 71%2023+ $28,344.00 $5,268,674,69 I
71%2024 $28,344.00 $5,297,018.69
71%2025• $28,344.00 $5,325,362.69$28,344.00 $5,353,706.69 {
Hope Martin Anderson Principai TIF Rebate
m 50%2015 •;,
s>$13.18ti fj.Q.
:•00�1
46,892..6950%2016 77,376.6950/+2017 886991,1 .50%2018-
13. .12.
0%2018+ 13...12, D 0500069sol 2019+
$5,3$1
Principal =:
82%2019• TIF Rebate $5,418,8I2.69 K
$5,486,028.69 t
77%2020* ";:$.6311 ;•`:QOI
7s%2021• $5,544,146,69
7sv.zo2r
$5,6I0,624.69
$5,672,102.69
7s%ioz3+ _
i$61g71i00.
$5,733,580,69
60%2024+ '$497.89OD
60-/.2025; $5,831,948.69
$5,782,764.69
CBE Laird Purchase Princi ai $740,000.00 2005 GO Bonds $6,571,948.69
Interest $245,900.00 2005 GO Bonds $6,817,848.69
VGM Access Road Principal $600,000.00 2005 GO Bonds $7,417,848.69
Interest $197,330.00 2005 GO Bonds $7,615,178.69 ,t
VOM Fund 406-FY2006 Principal $400,000.00 2006 GO Bonds $8,015,178.69
Interest $223,315.02 2006 GO Bonds $8,238,493.71
San Marnan Development Principal $100,000.00 2007 GO Bonds $8,338,493.71
Fund 407 FY2007 Interest[San MalMan $35,153.50 2007 GO Bonds $8,373,647.21
avelopmant Princi al $200,000.00 2008 GO Bonds $8,573,647.21
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EXHIBIT"A"
June 30,201G
roject Designation:San Marnan Tax Increment Development Area
Schedule 1 -
._ei�.
ebtedness ualif in for'I'Rx Incrm
eent_Reimbursemcnt
Under Section 403.19 2
Fund 408 FY2008 Interest $59,000.00 2008 GO Bonds $8,632,647.21
San Marnan Development-Fund Principal ($280,000.00) 2006 GO Bonds $8,352,647.21
406 Refund old Debt Interest ($76,862.50) 2006 GO Bonds $8,275,784.71
San Marnan Development-Fund Principal $280,000.00 2013 GO Bonds $8,555,784.71
413 -.Refinance 406 Funds Interest $23N$35,569.00
15360 2013 GO Bonds $8,578,938.31
San Marnan Development-Fund Principal j2012
005 GO Bonds $8,223,938.31
405 -Refund old Debt Interest 005 GO Bonds $8,157,073.31
San Marnan Development-Fund Principal 012 GO Bonds $8,512,073.31
412 -Refinance 406 Funds Interest GO Bonds $8,547,642.31
San Maman Development-Fund Principal 005 GO Bonds $8,102,642.31
405 -Refund old Debt Interest ($84,160.00) 2005 GO Bonds $8,018,482.31
San Marnan Development-Fund Principal $445,000.00 2012 GO Bonds $8,463,482.31
492 -Refinance 406 Funds n s Interest
144,575,97 2012 GO Bonds $8,508,058.28 q
Tower Park Dr&Sewer-FY principal ($57,420.00) 2000 GO Bonds $8,450,638.28 b
2000 -Refund old Debt interest ($17,678.00) 2000 GO Bonds $8,432,960.28
Tower Park Dr-i Sewer-Fund principal $57,420.00 2007 GO Bonds $8,490,380.28
407 -Refinance FY 00 Funds interest $2,232.00 2007 GO Bonds $8,492,612.28
Fund 407-Reallocated from Principal $19,140,80 2007 GO Bonds $8,511,753.08
Logan Ave Interest $6,786.57 $8,518,539.65
Fund 407-Reallocated from Principal $48,071.35 2007 GO Bonds $8,566,61I.00
Martin Rd Interest $17,044.18 $8,583,655.18
Fund 408-Reallocated from Principal $75,000.00 2008 GO Bonds $8,658,655.18
Logan Ave Interest $23,750.00 $8,682,405.18
Fund 408-Reallocated from Principal $80,000,00 2008 GO Bonds $8,762,405.18
Martin Rd Interest $25,000.00
$8,787,405.18 8
L&H Farms Advance $439,179.20 Advance $9,226,584.38 °
Dry Run Sewer Study(FY90) Advance $19.69 Advance $9,226,604.07
Dry Run Sewer Study(FYI I) Advance $9,539.75 Advance $9,236,143.82
L&H Farms Advance $751,943.25 Advance $9,988,087.07
Env.Site Assessment Advance $5,999.28 Advance $9,994,086.35
FYI 2GCVA Principal $16,167.00 Contract $10,010,253,35
FYI GCVA Principal $24,000.00 Contract $10,034,253.35
FYI 4
FY95 I5 GCVA Principal $16,166.66 Contract $10,050,420.01
GCVA Principal $12,833.34 . Contract $10,063,253.35
FYI GCVA Advance $16,I66.67 Contract $10,079,420.02
FYI L&H Farms Advance $334,109.50 Advance $10,413,529.52
FY14 L&H Farms Advance $857,909.51 Advance $11,271,439.03
FYI
I6 L&H Farms Advance $132,410.50 Advance $11,403,849.53
FY96 L&H Farms Advance $734,031.74 $12,137,881.27
FYI 5 Administrative Expenses Advance $6,253.74 Advance $12,144,135.01
FYI6AdministrativeExpenses Advance $4,600.00 $12,148,735,01
South Woo Bus Park Site Cert. Advance $27,895.59 $12,176,630.60
San Maman Management,Ltd. Advance Advance $12,926,630"60
Grant $750,000.00
Galactic/Fitzway Dr Extension Advance $48,572.00 Advance $12,975,202,60 I
Fisher Drive Sewer Ext. Advance s $3378.6OQ. Advance $13,008,988.60 j
*Estimated
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EXHIBIT "B" 1
June 30,201
Project Designation: San Marnan Tax Increment Development Area
_. Schedule 2
IndebtednessReimbursement --
_... ,Qualifying for_Tax Increment _
Under Section 443.19 2
No. Year Received Amount Other Revenue Cumulative Amount
Received from Received
Payments under
1 FY 1997 $0.00 $0.00
2 FY 1998 $0.00 $0.00
3 FY 1999 $0.00 $Q.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
9 FY 2005 $620,650.20
$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
$1,240,893.60 $345.77 $6,258,486.00
18 FY2014 $1,181,125.96 $'1,402.62 $7,441,014.58
19 FY2015 $1,220,486.74 $469.62 $8,661,970.94
20 FY2016 -::::..::..:....:.:................,:.....;.... :.....::;..>............-:.
; X2448..3 .;1'%6:;`:: '_: `$.1'94, . I: $9,908 749.61
21 FY2017* $1,244 835;1&
22 FY2018* ' $11,153,584.77
$12,398,419.93
*Estimated !l
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CITY TIF FORM 1-INDEBTEDNESS CERTIFICATION Cover Sheet
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CODE OF IOWA SECTION 403.19 TAX INCREMENT FINANCING(TIF)INDEBTEDNESS
CERTIFICATION TO COUNTY AUDITOR
Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested
x
Use One Certification Per Urban Renewal Area s
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City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
Urban Renewal Area Number: 07030 (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.
Urban Renewal Area Indebtedness Not Previously Certified*:
$ 1,332,886
*There must be attached a supporting itemized listing of the dates that individual loans,advances, indebtedness, or
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.)
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 T 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.)
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Notes/Additional Information:
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Please note that we removed$95,975 in debt reductions and revenue adjustments using Form 3 that did not carry
to this form. Net debt outstanding at 6/30/2016 should be$3,100,238.99.
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Dated this 23rd day of November
2016
319.291.4323
Signature of Authorized Official Telephone A
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CITY TIF FORM 1.1-To be attached to CITY TIF FORM 1 -INDEBTEDNESS CERTIFICATION
Page 1 l
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR F
F
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
Urban Renewal Area Number: 07030 1 (Use five-digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details: ��
Date Approved*: Total Amount; �
1. Greater Cedar Valley Alliance:$16,166.67 12/21/15 16,166
rjW this box if a rebate agreement. List administrative details on lines above.
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2. L&H Farms:$734031.74 12/21/15 734,032 I
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n X'this box if a rebate agreement. List administrative details on lines above. I
3. GO America tax rebate estimate adjustment:$71,950 4/13/15 71,950
4 years at 100%, 1 year at 80%.
i
xxW this box if a rebate agreement. List administrative details on lines above.
4. Administrative Expenses:$4600 6/13/16 4,600
[1'X'thls box If a rebate agreement. List administrative details on lines above.
S. South Waterloo Business Park Site Cert.:$27,895.59 6/13/16 27,896
[_I Xthis 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.
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Tota(For City TIF Form 1.1 Page 1; 854,644
*"Date Approved"is the date that the local governing body initially approved the TIF indebtedness.
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CITY TIF FORM 1.1-To be attached to
CITY TIF FORM 1-INDEBTEDNESS
CERTIFICATION Page 2 g
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TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
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City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
Urban Renewal Area Number: 07030 (Use five-diglt Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details: Date Approved*: Total Amount:
6. Hope Martin Anderson:$65106 2/8/10 65,106
5 years at 50%
XI'X'this box if a rebate agreement. List administrative details on lines above.
7. Green Acres Storage:$413,136 6/1/15 413,136
Year 1 at 82%,Year 2 at 77%,Year 3-5 at 75%,and Year 6-7 at 60%
XM Xthis box if a rebate agreement. List administrative details on lines above.
8.
['X'this box if a rebate agreement, List administrative details on lines above.
9.
F]'X'this box if a rebate agreement. List administrative details on lines above.
10.
n 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 3.
Total For City TIF Form 1.1 Page 2: 478,242
*"Date Approved"is the date that the local governing body Initially approved the TIF indebtedness.
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CITY TIF FORM 3
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TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
CERTIFICATION TO COUNTY AUDITOR F
Use One Certification Per Urban Renewal Area
City: Waterloo County: Black Hawk
Urban Renewal Area Name: Waterloo San Marnan Urban Renewal
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Urban Renewal Area Number: 07030 (Use five-digit Area Number Assigned by the County Auditor)
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I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above, the
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.
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 n
to know which particular indebtedness certifcation(s) to reduce. If rebate agreements are involved with a reduction,
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five-digit I
county increment taxing district numbers for reference.
Individual TIF Indebtedness Type/Description/Details: Amount
Reduced:
Interest received during FYE16:$1,943.51 1,944
Fisher Dr Sewer Extension Contract Adjustment:Decrease of$363 363
Cardinal(2nd bldg)Tax Rebate Estimate Adjustment: Decrease of$80,818 80,818
WW Grainger Tax Rebate Estimate Adjustment: Decrease of$5,950 5,950
Cardinal Veterans Clinic Tax Rebate Estimate Adjustment: Decrease of$1,040 1,040
MFGC, LLC Tax Rebate Estimate Adjustment: Decrease of$2,190 2 190
MBAK Tax Rebate Estimate Adjustement:Decrease of$3,670 3,670 f
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Total Reduction In Indebtedness For This Urban Renewal Area: g5,g75
Dated this 23rd day of November 2016
319.291.4323
Signature of Authorized Official Telephone