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HomeMy WebLinkAbout2023-11-06 G01 North Waukee Residential Amendment 1 URA_PHAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: November 6, 2023 AGENDA ITEM:Public Hearing on a proposed Urban Renewal Plan for an Amendment No. 1 of the North Waukee Residential Urban Renewal Plan in the City of Waukee, State of Iowa FORMAT:Public Hearing SYNOPSIS INCLUDING PRO & CON: The City Council adopted North Waukee Residential Urban Renewal Plan in 2020 to address affordable housing concerns and improve the transportation network surrounding the new schools. The proposed Amendment No. 1 includes the removal of real estate within the Urban Renewal Area that is undeveloped and zoned for commercial use. Additionally, the Amendment includes updates and revisions to eligible projects and updates to financial information. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: Staff held a consultation meeting with the County and the affected school district(s) involved in the Plan area to review the proposal on October 9, 2023. No one attended the meeting.To date, staff has not received any correspondence related to the proposed plan. RECOMMENDATION: Staff recommend holding the Public Hearing. ATTACHMENTS: I. Proposed Amendment No. 1 to North Waukee Residential Urban Renewal Plan PREPARED BY:Jennifer Brown, Director of Economic Development REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: Dallas County News DATE OF PUBLICATION: October 26, 2023 G1 AMENDMENT NO. 1 to the NORTH WAUKEE RESIDENTIAL URBAN RENEWAL PLAN for the NORTH WAUKEE RESIDENTIAL URBAN RENEWAL AREA WAUKEE, IOWA 2020 Amendment No. 1 – 2023 TABLE OF CONTENTS SECTION PAGE A. INTRODUCTION 1 B. DESCRIPTION OF THE URBAN RENEWAL AREA 2 C. DEVELOPMENT PLAN 2 D. UPDATE TO PREVIOUSLY APPROVED URBAN RENEWAL PROJECTS 2 E. FINANCIAL INFORMATION 3 F. REPEALER AND SEVERABILITY 4 G. EFFECTIVE PERIOD 4 EXHIBITS A.LEGAL DESCRIPTION OF AREA B. URBAN RENEWAL AREA MAP Amendment No. 1 to North Waukee Residential Urban Renewal Plan for the North Waukee Residential Urban Renewal Area City of Waukee, Iowa A. INTRODUCTION The City of Waukee, Iowa (the “City”) adopted the North Waukee Residential Urban Renewal Plan ("Plan" or "Urban Renewal Plan") by Resolution No. 2020-429 on November 16, 2020 in order to establish the North Waukee Residential Urban Renewal Area (“Urban Renewal Area” or ‘Area”) and help local officials respond to and promote economic development in the City of Waukee (the "City"). The primary goal of the Plan was to stimulate, through public involvement and commitment, private investment in new housing and residential development as defined in Iowa Code Section 403.17(12). The City determined that there was a shortage of affordable and appropriate housing and that providing such housing is important for any or all of the following objectives: retaining existing industrial or commercial enterprises; attracting and encouraging the location of new industrial or commercial enterprises; meeting the needs of special elements of the population, such as the elderly or persons with disabilities; and providing housing for various income levels of the population which may not be adequately served. In order to achieve these objectives, the City intends to undertake Urban Renewal activities pursuant to the powers granted to it under Chapter 403 and Chapter 15A of the Code of Iowa, as amended. The Plan is being amended by this Amendment No. 1 (“Amendment”) to remove real estate within the Area that is undeveloped and zoned for commercial use to the extent described hereinafter, and to add and/or confirm the list of previously approved projects and the list of eligible urban renewal projects. The material changes made by this Amendment No. 1 are the following: The removal from the Area of the property described as Amendment No. 1 Area Removal; Updating and revising Previously Approved Urban Renewal Projects; Updating and revising Financial Data; Exhibit A contains a legal description of the property being removed by this amendment (“Amendment No. 1 Area Removal”); Exhibit B contains a Map of the North Waukee Residential Urban Renewal Area and identifies the Amendment No. 1 Area Removal. Except as modified by this Amendment, the provisions of the Urban Renewal Plan are hereby ratified, confirmed, and approved and shall remain in full force and effect as provided herein. In case of any conflict or uncertainty, the terms of this Amendment shall control. Any subsections in the Plan not mentioned in this Amendment shall continue to apply to the Plan, as amended. B. DESCRIPTION OF THE URBAN RENEWAL AREA, AS AMENDED The legal description of the property being removed from the North Waukee Residential Urban Renewal Area by this Amendment is attached hereto as Exhibit “A”. A map of the Area showing the Amendment No. 1 Area Removal is attached as Exhibit “B”. C. DEVELOPMENT PLAN Waukee has a general plan for the development of the City as a whole outlined in the Waukee Comprehensive Land Use Plan, adopted in 2019. The urban renewal projects identified in the Plan, as amended by this Amendment, are in conformity with the 2019 Comprehensive Plan and the land use policy and priorities that were adopted as part of the planning process. This Amendment does not change or in any way replace the City's current land use planning or zoning regulation process. The need for improved traffic, public transportation, public utilities, recreational and community facilities, or other public improvements within the Urban Renewal Area is set forth in the Plan, as amended. As the Area develops, the need for public infrastructure extensions and upgrades will be evaluated and planned for by the City. D. UPDATE TO PREVIOUSLY APPROVED URBAN RENEWAL PROJECTS Some urban renewal projects were authorized prior to the date of this Amendment No. 1. These previously authorized projects include but are not limited to the following projects which have been initiated and are continuing: 1. Public Improvements in Residential Development: Public Improvement Project(s) Bond Reference Balance as of July 1, 2023 Douglas Parkway Extension from NE Badger Lane to N Warrior Lane including construction of two travel lanes, turning lanes, utilities (water, sewer, storm, gas), traffic signalization, trails, sidewalks, landscaping, etc. including associated engineering, land acquisition and other related costs. 2021 A/B GO Urban Renewal $5,879,750.00 Douglas Parkway Culvert/Bridge Construction to allow for extension of Douglas Parkway from N Warrior Lane to NW 4th Street. 2022 A GO Urban Renewal $1,763,213.00 TOTAL $7,642,963.00 Unless LMI housing is constructed in the Northern Waukee Residential Urban Renewal Area, the City will set aside a minimum of 26.22% of the incremental taxes generated by the multi-residential housing units (up to a maximum of the costs of public improvements) and use those funds to support LMI housing anywhere in the community. As an example, if the construction costs for the public improvements total at least $100,000 and if incremental taxes of $100,000 are generated from the construction of multi-residential housing units in the Northern Waukee Residential Urban Renewal Area (and no such units are affordable to LMI housing residents or are rented to such individuals or families), the LMI Set Aside Fund requirement would be $26,220. The balance of $73,780 in incremental taxes could be used to reimburse the City for construction costs of the public improvements described above under No. 1 or planning, legal, and related project costs (listed in No. 2 below). 2. Planning, engineering fees (for urban renewal plans), attorney fees, other related costs to support the urban renewal project and planning: Project Date Estimated Cost Fees and costs Undetermined Not to Exceed $_100,000.00. E. FINANCIAL INFORMATION 1.July 1, 2023 constitutional debt limit:$143,651,362 2.Outstanding current general obligation debt:$ 108,167,173 3.Proposed amount of indebtedness to be incurred (Amendment No. 1): A specific amount of debt to be incurred for the Updated Previously Approved Urban Renewal Projects (Amendment No. 1) has not yet been determined. This document is for planning purposes only. The estimated project costs in this Plan are estimates only and will be incurred and spent over a number of years. In no event will the City's constitutional debt limit be exceeded. The City Council will consider each project proposal on a case-by-case basis to determine if it is in the City's best interest to participate before approving an urban renewal project or expense. It is further expected that such indebtedness, including interest on the same, may be financed in whole or in part with tax increment revenues from the Urban Renewal Area. Subject to the foregoing, it is estimated that the cost of the Updated Previously $7,742,963.00 This estimate does not include financing costs which may be incurred over the life of the Plan nor does it include the LMI assistance costs Approved Urban Renewal Projects as described above will be approximately as stated in the next column: F. REPEALER AND SEVERABILITY Any parts of the Urban Renewal Plan in conflict with this Amendment No. 1, are hereby repealed. In the event one or more provisions contained in the Urban Renewal Plan or this Amendment No. 1 shall be held for any reason to be invalid, illegal, unauthorized or unenforceable in any respect, such invalidity, illegality, unauthorization or unenforceability shall not affect any other provision of the Urban Renewal Plan or this Amendment No. 1, and the Urban Renewal Plan and this Amendment No. 1 shall be construed and implemented as if such provisions had never been contained herein. G. EFFECTIVE PERIOD This Amendment will become effective upon its adoption by the City Council and will remain in effect until it is repealed by the City Council. This Amendment does not change the time period for the division of revenue as described in the Plan. EXHIBIT "A" Amendment No. 1 Area Removal to be removed from North Waukee Residential Urban Renewal Area Outlot Z of Prairie Crossing Plat 8, an Official Plat, City of Waukee, Dallas County, Iowa (Parcel #1227454003) EXHIBIT "B" MAP OF URBAN RENEWAL AREA IDENTIFYING PROPERTY REMOVED BY AMENDMENT NO. 1