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Home My WebLink About2012-03-05-Resolutions 12-48_Alices LC-TEAM Des Moines Partners - Development Agr - Restated - Set PHRESOLUTION 12-48 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSAL TO ENTER INTO A RESTATED AGREEMENT WITH ALICES,L.C.AND TEAM DES MOINES PARTNERS, LLC,AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS,by Resolution No.93,adopted December 13,1988,this Council found and determined 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 Waukee Urban Renewal Plan for the Waukee Urban Renewal Area.The Waukee Urban Renewal Area was amended numerous times and is currently known as the Waukee Unified Urban Renewal Area (the "Urban Renewal Area"),by Resolution No.11-80, dated May 23,2011,and further amended by Amendment No.2 to the Waukee Unified Urban Renewal Area by Resolution No.11-224 on December 5,2011. WHEREAS,it is desirable that properties within the Area be redeveloped as part of the overall redevelopment area covered by said Plan;and WHEREAS,the City has previously entered into various prior development agreements among the City,Alices,L.C.(or its predecessorts)(the "Developer"),and Team Des Moines Partners,LLC (or its predecessorts)("Team")(i)providing benefits to Developer in the form of tax rebate Economic Development Grants to reimburse the Developer for costs of certain infrastructure required to promote development on certain property and (ii)providing benefits to Team in the form of tax rebate Economic Development Grants for the construction of commercial buildings in a phased development,all relating to property that is within the Waukee Unified Urban Renewal Area,generally known as The Crossings development;and WHEREAS,the City is willing to extend the amount of time for Team to construct the commercial buildings in Phase II (former Phase III is now combined into Phase II)in order to receive tax increment payments in the form of Economic Development Grants on such buildings under certain conditions;and the City is willing to extend the amount of time for Alices,L.c.to construct the Public Improvements within the Development Property and extend the time to receive tax increment payments on future commercial construction;and WHEREAS,Team and Developer have proposed an Amended and Restated Development Agreement among the City of Waukee,Alices,L.C.and Team Des Moines Partners,LLC ("Restated Agreement")to document the parties'obligations and benefits, which Restated Agreement continues to limit the maximum Economic Development Grants to either Developer or Team to (i)no more than $3.3 Million in aggregate Economic Development Grants for reimbursement of Developer's eligible infrastructure costs;(ii)clarifies the division of potential Economic Development Grants between Developer and Team;(iii)provides that no such payments shall be made from Tax Increments after fiscal year 2020-2021;and (iv)provides that all payments are subject to the terms and following satisfaction of the conditions set forth in the Restated Agreement; WHEREAS,Iowa Code Chapters 15A and 403 (the "Urban Renewal Law") authorize cities to make grants for economic development in furtherance of the objectives of an urban renewal project and to appropriate such funds and make such expenditures as may be necessary to carry out the purposes of said Chapter,and to levy taxes and assessments for such purposes;and WHEREAS,the Council has determined that the Restated Agreement is in the best interests of the City and the residents thereof and that the performance by the City of its obligations thereunder is a public undertaking and purpose and in furtherance of the Plan and the Urban Renewal Law and,further,that the Restated Agreement and the City's performance thereunder is in furtherance of appropriate economic development activities and objectives of the City within the meaning of Chapters 15A and 403 of the Iowa Code, taking into account the factors set forth therein;and WHEREAS,neither the Urban Renewal Law nor any other Code provision sets forth any procedural action required to be taken before said economic development activities can occur under the Restated Agreement,and pursuant to Section 364.6 of the Code ofIowa,it is deemed sufficient if the action hereinafter described be taken and the City Clerk publish notice of the proposal and of the time and place of the meeting at which the Council proposes to take action thereon and to receive oral and/or written objections from any resident or property owner of said City to such action. NOW THEREFORE,BE IT RESOLVED,BY THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA: Section 1.That this Council meet in the Council Chambers,City Hall,230 West Hickman Road,Waukee,Iowa,at 5:30 o'clock P.M.on the 19th day of March,2012,for the purpose of taking action on the matter of the proposal to enter into a Restated Agreement with Alices,L.C.and Team Des Moines Partners,LLC. Section 2.That the City Clerk is hereby directed to cause at least one publication to be made of a notice of said meeting,in a legal newspaper,printed wholly in the English language,published at least once weekly,and having general circulation in said City,said publication to be not less than four (4)clear days nor more than twenty (20) days before the date of said public meeting. Section 3.The notice of the proposed action shall be in substantially the following form: (One publication required) NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA,ON THE MATTER OF THE PROPOSAL TO ENTER INTO A RESTATED AGREEMENT WITH ALICES,L.C.AND TEAM DES MOINES PARTNERS,LLC,AND THE HEARING THEREON PUBLIC NOTICE is hereby given that the Council of the City of Waukee in the State ofIowa,will hold a public hearing on the 19th day of March,2012,at 5:30 o'clock P.M.in the Council Chambers,City Hall,230 West Hickman Road,Waukee,Iowa,at which meeting the Council proposes to take action on the proposal to enter into a Restated Agreement (the "Restated Agreement")with Alices,L.c.("Developer")and Team Des Moines Partners,LLC ("Team"). The City has previously entered into various prior development agreements among the City,Alices,L.C.(or its predecessor(s))(the "Developer"),and Team Des Moines Partners,LLC (or its predecessor(s))("Team")(i)providing benefits to Developer in the form of tax rebate Economic Development Grants to reimburse the Developer for costs of certain infrastructure required to promote development on certain property and (ii)providing benefits to Team in the form of tax rebate Economic Development Grants for the construction of commercial buildings in a phased development,all relating to property that is within the Waukee Unified Urban Renewal Area generally known as The Crossings development. The City is willing to extend the amount of time for Team to construct the commercial buildings in Phase II (former Phase III is now combined into Phase IT)in order to receive tax increment payments in the form of Economic Development Grants on such buildings under certain conditions;and the City is willing to extend the amount of time for Alices,L.C.to construct the Public Improvements within the Development Property and extend the time to receive tax increment payments on future commercial construction. Team and Developer have proposed an Amended and Restated Development Agreement among the City of Waukee,Alices,L.C.and Team Des Moines Partners,LLC ("Restated Agreement")to document the parties'obligations and benefits,which Restated Agreement continues to limit the maximum Economic Development Grants to either Developer or Team to (i)no more than $3.3 Million in aggregate Economic Development Grants for reimbursement of Developer's eligible infrastructure costs;(ii) clarifies the division of potential Economic Development Grants between Developer and Team;(iii)provides that no such payments shall be made from Tax Increments after fiscal year 2020-2021;and (iv)provides that all payments are subject to the terms and following satisfaction of the conditions set forth in the Restated Agreement. A copy of the Restated Agreement is on file for public inspection during regular business hours in the office of the City Clerk,City Hall,City of Waukee,Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of said City,to the proposal to enter into the Restated Agreement with the Developer.After all objections have been received and considered, the Council will at this meeting or at any adjournment thereof,take additional action on the proposal or will abandon the proposal to authorize said Restated Agreement. This notice is given by order of the City Council of the City of Waukee in the State ofIowa,as provided by Section 364.6 of the Code ofIowa. Dated this 5th day of March,2012. Jeffrey L.Kooistra City Clerk,City of Waukee in the State of Iowa (End of Notice) PASSED AND APPROVED this 5th day of March,2012. ATTEST: ROLL CALL VOTE Shane Blanchard Dan Dutcher Casey L.Harvey Shelly Hughes Mike Watts AYE X X X X X NAY ABSENT ABSTAIN