HomeMy WebLinkAbout2023-01-16 H01 First Amendment to The Quarter at Waukee DA_Ratify PH, Approve AgreementAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 16, 2023
AGENDA ITEM:Consideration of approval of a resolution ratifying, confirming and
approving publication of the notice of the public hearing and approving
and authorizing execution of a First Amendment to the Agreement for
Private Development and Minimum Assessment Agreement with The
Quarter at Waukee, LLC
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON:
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Staff has reviewed the impact of the proposed changes to
the First Amendment to the Agreement for Private Development and
Minimum Assessment Agreement. The Minimum Assessed value of the
overall project remains mostly unchanged. There will not be significant
changes to the TIF rebate. Staff recommends approval to further positive
economic growth in Waukee.
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
II. First Amendment to the Agreement for Private Development and
Minimum Assessment Agreement
PREPARED BY: Jennifer Brown, Director of Economic Development
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H1
RESOLUTION NO. ______
RESOLUTION RATIFYING, CONFIRMING AND APPROVING
PUBLICATION OF NOTICE OF PUBLIC HEARING AND
APPROVING AND AUTHORIZING EXECUTION OF A FIRST
AMENDMENT TO THE AGREEMENT FOR PRIVATE
DEVELOPMENT AND MINIMUM ASSESSMENT
AGREEMENT BY AND BETWEEN THE CITY OF WAUKEE
AND THE QUARTER AT WAUKEE, L.L.C.
WHEREAS, by Resolution No. 2022-535, adopted December 19, 2022, 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 Quarter Commercial Urban
Renewal Plan (the "Plan" or "Urban Renewal Plan") for The Quarter Commercial Urban Renewal
Area (the "Area" or "Urban Renewal Area") described therein, which Plan 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 of Waukee, Iowa ("City") and The Quarter at Waukee, L.L.C.
("Developer") previously entered into an Agreement for Private Development dated December 19,
2022 ("Agreement"), pursuant to which, among other things, the Developer agreed to construct
certain Minimum Improvements (as defined in the Agreement) on certain real property located
within The Quarter Commercial Urban Renewal Area (the "Development Property") and the City
agreed to provide certain incentives described as "Economic Development Grants" to the
Developer in exchange for Developer’s obligations under the terms and conditions of the
Agreement; and
WHEREAS, the Agreement included a Minimum Assessment Agreement between the City
and Developer also dated December 19, 2022 (“Minimum Assessment Agreement”), pursuant to
which the parties agreed the Buildings to be constructed on the Development Property as part to
of the Minimum Improvements would be subject to certain Minimum Actual Values for
assessment purposes; and
WHEREAS, the City and Developer desire to amend the Agreement and Minimum
Assessment Agreement pursuant to a proposed First Amendment (the "First Amendment") to: (a)
amend the description of some of the Buildings being constructed as part of the Minimum
Improvements; (b) amend the minimum actual values for some of the Buildings to be constructed
on the Development Property; and (c) revise the Economic Development Grant schedules for some
of the Buildings to be constructed on the Development Property, pursuant to the terms and
conditions of the First Amendment; and
WHEREAS, Chapters 15A and 403, Code of Iowa, 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 Chapters, and to levy taxes and assessments for such purposes; and
WHEREAS, the Council has determined that the First Amendment 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 First Amendment 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 any or all of the factors set
forth in Chapter 15A, Code of Iowa, to wit:
a. Businesses that add diversity to or generate new opportunities for the Iowa
economy should be favored over those that do not.
b. Development policies in the dispensing of the funds should attract, retain, or expand
businesses that produce exports or import substitutes, or which generate tourism-
related activities.
c. Development policies in the dispensing or use of the funds should be targeted
toward businesses that generate public gains and benefits, which gains and benefits
are warranted in comparison to the amount of the funds dispensed.
d. Development policies in dispensing the funds should not be used to attract a
business presently located within the state to relocate to another portion of the state
unless the business is considering in good faith to relocate outside the state or unless
the relocation is related to an expansion which will generate significant new job
creation. Jobs created as a result of other jobs in similar Iowa businesses being
displaced shall not be considered direct jobs for the purpose of dispensing funds;
and
WHEREAS, City staff has caused publication to be made of a notice of the proposal to
enter into the First Amendment and of the time and place of this meeting at which it is proposed
to take action on the authorization of the First Amendment and to receive oral and/or written
objections from any resident or property owner of said City to such action; and
WHEREAS, pursuant to said notice, which notice is hereby ratified by the Council, this
Council has held a public meeting and hearing upon the proposal to approve and authorize
execution of the First Amendment and has considered the extent of objections received from
residents or property owners as to said proposed First Amendment, and, accordingly, the following
action is now considered to be in the best interests of the City and residents thereof.
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF
WAUKEE IN THE STATE OF IOWA:
Section 1.That the performance by the City of its obligations under the First Amendment
and the Agreement and Minimum Assessment Agreement, as amended, be and is hereby declared
to be a public undertaking and purpose and in furtherance of the Plan and the Urban Renewal Law
and, further, that the First Amendment, the Agreement, the Minimum Assessment 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.
Section 2.That the form and content of the First Amendment, the provisions of which are
incorporated herein by reference, be and the same hereby are in all respects authorized, approved
and confirmed, and the Mayor and the City Clerk be and they hereby are authorized, empowered
and directed to execute, attest, seal and deliver the First Amendment for and on behalf of the City
in substantially the form and content now before this meeting, but with such changes,
modifications, additions or deletions therein as shall be approved by such officers, and that from
and after the execution and delivery of the First Amendment, the Mayor and the City Clerk are
hereby authorized, empowered and directed to do all such acts and things and to execute all such
documents as may be necessary to carry out and comply with the provisions of the Agreement and
Minimum Assessment Agreement, as amended, and the First Amendment as executed.
PASSED AND APPROVED this 16th day of January, 2023.
Mayor
ATTEST:
City Clerk