HomeMy WebLinkAbout2020-01-06-J01O PIF Agreement Amendment 2AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 6, 2020
AGENDA ITEM:Consideration of approval of a resolution approving Second Amended
Public Improvement Agreement and Fund [Apple, Inc.]
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: The original Public Improvement Fund (PIF)
agreement between the City of Waukee and Apple Inc. was structured
that payments to the fund would be made as Apple pulled building
permits for data center buildings. The payments would be made to the
PIF in the January after the building permits were issued for data center
buildings. It is now anticipated that Apple will pull building permits in
July, 2021.
City Staff has been working with Apple over the last several months to
modify the PIF agreement in light of the delay in pulling building
permits and the result of these negotiations is this second amendment to
the PIF agreement. This amendment will have Apple making a
$1,500,000 payment to the PIF on January 31, 2020 and a $2,000,000
payment to the PIF on January 31, 2021. These payments along with the
$500,000 payment that Apple made to the PIF in January of 2019 will be
applied to the $10,000,000 per data center building maximum on the first
data center building. The rest of the PIF agreement remains unchanged.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT: N/A
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
II. Second Amended Public Improvement Agreement and Fund
PREPARED BY:Dan Dutcher
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
J1O
THE CITY OF WAUKEE, IOWA
RESOLUTION 2020-
APPROVING SECOND AMENDED PUBLIC IMPROVEMENT AGREEMENT AND FUND
[APPLE, INC.]
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, on August 24, 2017, the Waukee City Council approved a Public Improvement
Agreement and Fund (“PIF Agreement”) by and between the City of Waukee and the developer of
Project Morgan/Apple, Inc. (Resolution #17-411); AND,
WHEREAS, on January 21, 2019, the Waukee City Council approved a First Amendment to the PIF
Agreement (Resolution #19-028); AND,
WHEREAS, Apple, Inc., proposes a Second Amended PIF Agreement which will have Apple making
a payment to the PIF on January 31, 2020, and an additional payment on January 31, 2021, with the
rest of the PIF agreement remaining unchanged; AND,
WHEREAS, the City Attorney and Developer have reviewed the agreement amendment and agree to
its terms.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council that it hereby
approves the Second Amended Public Improvement Agreement and Fund [Apple, Inc.].
Passed by the City Council of the City of Waukee, Iowa, and approved the 6th day of January, 2020.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman
R. Charles Bottenberg
Chris Crone
Larry R. Lyon
VACANT SEAT