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HomeMy WebLinkAbout2020-09-21-I01zBB Waukee Towne Center DA_Set PH AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: September 21, 2020 AGENDA ITEM: Consideration of approval of a resolution fixing date for a public hearing on the proposal to enter into a Development Agreement with Waukee Towne Center, LLC FORMAT: Consent Agenda SYNOPSIS INCLUDING PRO & CON: Staff has been working with Waukee Towne Center, LLC on the development of property located along the west side of Alice’s Road and south of Hickman Road for purposes of a commercial development. A development agreement has been drafted pertaining to certain obligations related to public infrastructure improvements to be made by the City as well as certain improvements to be made by the developer in exchange for property tax rebates. City staff is recommending a public hearing be set for October 5, 2020 to discuss the proposed development agreement with Waukee Towne Center, LLC. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: RECOMMENDATION: Approve the resolution setting the date of public hearing. ATTACHMENTS: I. Proposed Resolution PREPARED BY: Brad Deets, Development Services Director REVIEWED BY: I1BB RESOLUTION NO. ______ RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH WAUKEE TOWNE CENTER, LLC, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, by Resolution No. 19-402, adopted November 4, 2019, 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 Amendment No. 1 to the Waukee Consolidated Urban Renewal Plan (the "Urban Renewal Plan" or "Plan") which consolidated the Gateway Economic Development Urban Renewal Area, the Waukee West Urban Renewal Area, and the Waukee Central Urban Renewal Area into a single urban renewal area known as the Waukee Consolidated Urban Renewal Area and added property to the consolidated area (the "Urban Renewal Area" or "Area"), described therein, which Plan has been amended twice, most recently by Amendment No. 3 to the Waukee Consolidated Urban Renewal Plan on July 20, 2020, and which Plan, as amended, is on file in the office of the Recorder of Dallas County; and 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 received a proposal from Waukee Towne Center, LLC (the "Developer"), in the form of a proposed Development Agreement (the "Agreement") by and between the City and the Developer, pursuant to which, among other things, the Developer would agree to construct certain Required Minimum Improvements, consisting of the construction of commercial buildings and related parking improvements, together with all related site improvements, and certain Developer Public Improvements, relating to SE Laurel Street, on certain real property located within the Urban Renewal Area as defined and legally described in the Agreement (the "Development Property"), as outlined in the proposed Agreement; and WHEREAS, the Agreement proposes that the City will construct certain City Public Improvements also related to SE Laurel Street to support development on the Development Property, subject to the terms and conditions of the Agreement; and WHEREAS, the Agreement further proposes that the City will make up to twelve (12) consecutive annual payments of Economic Development Grants to Developer using Tax Increments generated by the construction of the Minimum Improvements on the Development Property and collected pursuant to Section 403.19, Code of Iowa, subject to the terms and conditions of the Agreement; and WHEREAS, the Agreement proposes that each annual Economic Development Grant will consist of 100% of the Tax Increments remaining from that fiscal year after the City has used Tax Increments to pay off any debt incurred to construct the City Public Improvements, under the terms and following satisfaction of the conditions set forth in the Agreement, with the cumulative total for all such payments not to exceed the lesser of $1,100,000 or the approved Developer Public Improvement Costs (as that term is defined in the Agreement), provided however that the cumulative total for the Economic Development Grants may be increased, under the terms and conditions of the Agreement, if the Developer completes the City Public Improvements or there is a special assessment to finance the Hickman Access (as that term is defined in the Agreement); and WHEREAS, Chapters 15A and 403, Code of Iowa, (the "Urban Renewal Law") authorize cities to undertake public improvements and 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 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 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, Code of Iowa, 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 Agreement, and pursuant to Section 364.6,Code of Iowa, 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 at 5:30 P.M. on October 5, 2020, for the purpose of taking action on the matter of the proposal to enter into a Development Agreement with Waukee Towne Center, 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 PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH WAUKEE TOWNE CENTER, LLC, AND THE HEARING THEREON PUBLIC NOTICE is hereby given that the Council of the City of Waukee in the State of Iowa, will hold a public hearing on October 5, 2020, at 5:30 P.M., at which meeting the Council proposes to take action on the proposal to enter into a Development Agreement (the "Agreement") with Waukee Towne Center, LLC (the "Developer"). Due to public health concerns related to COVID-19, this meeting of the City Council will be held electronically, as holding the meeting in person is impossible or impractical. The public may access the meeting electronically via Zoom as follows: https://zoom.us/j/352651371 Meeting ID: 352-651-371 Or by phone: +1 646-558-8656 or +1 312-626-6799 or +1 301-715-8592 Please check the posted agenda in advance of the October 5, 2020 meeting for any updates to the manner in which the public may access the meeting. Please contact the City Clerk’s office at bschuett@Waukee.org if you have questions about the format of the meeting, or to request a copy of the Agreement. The Agreement would obligate the Developer to construct certain Required Minimum Improvements and Developer Public Improvements (as defined in the Agreement) on certain real property located within the Waukee Consolidated Urban Renewal Area as defined and legally described in the Agreement, consisting of the construction of commercial buildings, related parking improvements, and an extension of SE Laurel Street, together with all related site improvements, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement proposes that the City would construct certain City Public Improvements also related to SE Laurel Street to support development on the Development Property, subject to the terms and conditions of the Agreement. The Agreement would further obligate the City to make up to twelve (12) consecutive annual payments of Economic Development Grants to Developer using Tax Increments generated by the construction of the Minimum Improvements on the Development Property and collected pursuant to Section 403.19, Code of Iowa. Pursuant to the terms and conditions of the Agreement, each Economic Development Grant would consist of 100% of the Tax Increments remaining from that fiscal year after the City has used Tax Increments to pay off any debt incurred to construct the City Public Improvements, with the cumulative total for all the Economic Development Grants not to exceed the lesser of $1,100,000 or the approved Developer Public Improvement Costs (as that term is defined in the Agreement); provided however that the cumulative total for the Economic Development Grants may be increased, under the terms and conditions of the Agreement, if the Developer completes the City Public Improvements or there is a special assessment to finance the Hickman Access (as that term is defined in the Agreement). A copy of the 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 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 Agreement. This notice is given by order of the City Council of the City of Waukee in the State of Iowa, as provided by Section 364.6, Code of Iowa. Dated this 21st day of September, 2020. Rebecca D. Schuett City Clerk, City of Waukee in the State of Iowa (End of Notice) PASSED AND APPROVED this 21st day of September, 2020. Mayor ATTEST: City Clerk