HomeMy WebLinkAbout2023-05-15 I01F_05 Minimum Assessment Agreement, Apple IncAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 15, 2023
AGENDA ITEM:Consideration of approval of a resolution approving and authoring execution
of the Minimum Assessment Agreement for the First Data Center by and
between the City of Waukee and Apple Inc.
FORMAT:Consent
SYNOPSIS INCLUDING PRO & CON: The proposed resolution would authorize and execute the
$200M Minimum Assessment agreement between the City of Waukee and
Apple Inc.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approval of the resolution.
ATTACHMENTS: I. Resolution
PREPARED BY:Jennifer Brown, Director of Economic Development
REVIEWED BY:
I1F5
RESOLUTION NO. ______
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A MINIMUM ASSESSMENT AGREEMENT
FOR THE FIRST DATA CENTER BY AND BETWEEN THE
CITY OF WAUKEE AND APPLE INC.
WHEREAS, the City of Waukee ("City") and Apple Inc. ("Developer") have entered into
an Agreement for Private Development dated as of the 20th day of September 2017, as amended
by that certain First Amendment to the Agreement for Private Development dated as of the 14th
day of August 2019 (as amended, "Agreement" or "Development Agreement") regarding certain
real property located in the City, which includes the following parcel:
Lot 1, Morgan Plat 2
("Data Center 1 Development Property"); and
WHEREAS, it is contemplated that Developer will undertake the construction of an initial
Data Center Building (referred to herein as “First Data Center”) on the Data Center 1 Development
Property, as provided in the Development Agreement; and
WHEREAS, pursuant to Section 403.6(19) of the Code of Iowa, the City and Developer
now propose to enter into a Minimum Assessment Agreement ("Minimum Assessment
Agreement") with the County setting the minimum actual value of the First Data Center for tax
purposes at not less than $200,000,000; and
WHEREAS, the Council has determined that the Minimum Assessment Agreement is in
the best interests of the City and the residents thereof and 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.
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF
WAUKEE IN THE STATE OF IOWA:
Section 1. That the form and content of the Minimum Assessment Agreement, 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 Minimum Assessment
Agreement 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 Minimum Assessment
Agreement, 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 Minimum Assessment Agreement as executed.
PASSED AND APPROVED this 15th day of May, 2023.
Mayor
ATTEST:
City Clerk