HomeMy WebLinkAbout2024-05-06 H02A North Waukee Residential Amendment 2 URA_ResolutionAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 6, 2024
AGENDA ITEM:Consideration of approval of a resolution determining an area of the City
to be an economic development area, and that the rehabilitation,
conservation, redevelopment, development or a combination thereof, of
such area is necessary in the interest of the public health, safety or
welfare of the residents of the City; designating such area as appropriate
for urban renewal projects; and adopting the Amendment No. 2 to the
North Waukee Residential Urban Renewal Plan
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON:
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Resolution
II. Proposed Amendment No. 2 to North Waukee Residential Urban
Renewal Plan
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
H2A
RESOLUTION NO. ______
RESOLUTION DETERMINING AN AREA OF THE CITY TO
BE AN ECONOMIC DEVELOPMENT AREA, AND THAT THE
REHABILITATION, CONSERVATION, REDEVELOPMENT,
DEVELOPMENT, OR A COMBINATION THEREOF, OF SUCH
AREA IS NECESSARY IN THE INTEREST OF THE PUBLIC
HEALTH, SAFETY OR WELFARE OF THE RESIDENTS OF
THE CITY; DESIGNATING SUCH AREA AS APPROPRIATE
FOR URBAN RENEWAL PROJECTS; AND ADOPTING
AMENDMENT NO. 2 TO THE NORTH WAUKEE
RESIDENTIAL URBAN RENEWAL PLAN
WHEREAS, by Resolution No. 2020-429, adopted November 16, 2020, 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 North Waukee Residential
Urban Renewal Plan (the "Plan" or "Urban Renewal Plan") for the North Waukee Residential
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, by Resolution No. 2023-463, adopted November 6, 2023, this City Council
approved and adopted an Amendment No. 1 to the Plan; and
WHEREAS, this Urban Renewal Area currently includes and consists of:
ORIGINAL AREA
NW ¼ of the NW ¼ of Section 27, Township 79N, Range 26W, City of Waukee,
Dallas County, Iowa except Alyvia Plat 1, Corrected Fox Creek Estates Plat 6 and
Parcel 17-179 as recorded in a Plat of Survey in Book 2017 at Page 8443 now
known as Fox Creek Estates Plat 9, City of Waukee, Dallas County, Iowa and
including the adjoining east half of right of way of Warrior Lane (Parcel
#1227100018); and,
SW ¼ of the NW ¼ of Section 27, Township 79N, Range 26W, City of Waukee,
Dallas county, Iowa except Fox Creek Estates Plats 1, 4, 5 and Corrected Fox Creek
Estates Plat 6 and including the adjoining east half of right of way of Warrior Lane
(Parcel #1227100016); and,
E ½ of the NE ¼ of Section 28, Township 79N, Range 26W, City of Waukee, Dallas
County, Iowa except Parcel AA as shown in a Plat of Survey recorded in Book
2013 at Page 721, City of Waukee, Dallas County Iowa and including the adjoining
west half of right of way of Warrior Lane (Parcel #1228200006, 1228200005); and,
NE ¼ of the SE ¼ of Section 28, Township 79N, Range 26W, except that property
platted as Indi Run Plats 1-3 and except Parcels 18-144 and 18-147 in the Plat of
Survey recorded in Book 2018, Page 23747 now known as the The Commons at
Greenway Plat 1, City of Waukee, Dallas County, Iowa (Parcel #1228400028); and,
Lot 1 and Lot A of The Commons at Greenway Plat 1, an Official Plat, City of
Waukee, Dallas County, Iowa (Parcel #1228480003, 1228480006); and,
Lots A and B of Waukee Greenway Park Plat 1, an Official Plat, City of Waukee,
Dallas County, Iowa (Parcel 1228477002); and,
Lots B and C of Enterprise Business Park Plat 1, an Official Plat, City of Waukee,
Dallas County, Iowa (Parcel #1227352001); and,
Lot A of Enterprise Business Park Plat 2, an Official Plat, City of Waukee, Dallas
County, Iowa (Parcel #1227355004); and,
Lots A and B of Enterprise Business Park Plat 3, an Official Plat, City of Waukee,
Dallas County, Iowa (Parcel #1227378005); and,
Lot A of Fridley Palms Plat 1, an Official Plat, City of Waukee, Dallas County,
Iowa (Parcel #1227379003); and,
A PARCEL OF LAND IN THE EAST 50.00 FEET OF OUTLOT ‘B', THE POINT
PLAT 1, AN OFFICIAL PLAT RECORDED IN BOOK 2003, PAGE 15821 AT
THE DALLAS COUNTY RECORDER'S OFFICE, CITY OF WAUKEE,
DALLAS COUNTY, IOWA. THAT IS MORE PARTICULARLY DESCRIBED
AS FOLLOWS:
BEGINNING AT THE SE CORNER OF SAID OUTLOT 'B', SAID SE CORNER
ALSO BEING ON THE NORTH RIGHT-OF-WAY LINE OF HICKMAN ROAD
(US HIGHWAY #6) AS IT IS PRESENTLY ESTABLISHED; THENCE
S89⁰36’52”W, 50.00 FEET ALONG THE SOUTH LINE OF SAID OUTLOT 'B'
AND SAID NORTH RIGHT-OF-WAY LINE TO A POINT; THENCE
N00°10’35"E, 257.95 FEET ALONG A LINE THAT IS 50.00 FEET WEST OF
AND PARALLEL TO THE EAST LINE OF SAID OUTLOT 'B' TO A POINT;
THENCE N05°00’51"E, 118.57 FEET TO A POINT THAT IS 40.00 FEET WEST
OF THE EAST LINE OF SAID OUTLOT 'B'; THENCE N00°10’35"E, 429.39
FEET ALONG A LINE THAT IS 40.00 FEET WEST OF AND PARALLEL TO
THE EAST OF SAID OUTLOT 'B' TO POINT OF CURVATURE; THENCE
NORTHERLY ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF
320.00 FEET AND A CHORD BEARING N11°29’10"E, AN ARC LENGTH OF
126.33 FEET TO A POINT OF REVERSE CURVATURE; THENCE
NORTHERLY ALONG A CURVE TO THE LEFT HAVING A RADIUS OF
265.00 FEET AND A CHORD BEARING N17°03’36"E, AN ARC LENGTH OF
53.06 FEET TO A POINT ON THE EAST LINE OF SAID OUTLOT 'B';
THENCE S00°10'35"W, 978.76 FEET ALONG THE EAST LINE OF SAID
OUTLOT 'B' TO THE POINT OF BEGINNING AND CONTAINING 0.91
ACRES (39,650 SQUARE FEET) as recorded in Acquisition Plat at 2013 Page
18714, City of Waukee, Dallas County, Iowa; and,
Lot A of Prairie Crossing Plat 3, an Official Plat, City of Waukee, Dallas County,
Iowa (Parcel #1227410006); and,
Outlot Z of Prairie Crossing Plat 7, an Official Plat, City of Waukee, Dallas County,
Iowa (Parcel #1227451001); and,
Lot 1 through Lot 6 of Bricktowne at Prairie Crossing Plat 1, an Official Plat, City
of Waukee, Dallas County, Iowa (Parcel #1227452001-1227452006); Lots 2
through 5 of Bricktowne at Prairie Crossing Plat 1 have been reclassified as
Bricktowne Prairie Crossing Condominiums and shall include the following
buildings and units:
Bricktowne Prairie Crossing Condominiums Building 2, Units 101-120, 201-220
and 301-320 (Parcel #1227453001-1227453060);
Bricktowne Prairie Crossing Condominiums Building 3, Units 101-120, 201-220
and 301-320 (Parcel #1227453061 – 1227453120);
Bricktowne Prairie Crossing Condominiums Building 5, Units 101-120, 201-220
and 301-320 (Parcel 1227453121 – 1227453180);
Bricktowne Prairie Crossing Condominiums Clubhouse (Parcel 1227453181);
Bricktowne Prairie Crossing Condominiums Garages (Parcel 1227453182).
AMENDMENT NO. 1 AREA
Removed land as follows:
Outlot Z of Prairie Crossing Plat 8, an Official Plat, City of Waukee, Dallas County,
Iowa (Parcel #1227454003)
WHEREAS, a proposed Amendment No. 2 to the Plan ("Amendment No. 2" or
"Amendment") for the Urban Renewal Area described above has been prepared, which proposed
Amendment has been on file in the office of the City Clerk and which is incorporated herein by
reference, the purpose of which is to add to the list of eligible urban renewal projects and update
the Plan Objectives and Activities; and
WHEREAS, it is desirable that the area be redeveloped as part of the overall redevelopment
covered by the Plan, as amended; and
WHEREAS, this proposed Amendment No. 2 adds no new land to the Urban Renewal
Area; and
WHEREAS, by resolution adopted on April 1, 2024, this Council directed that a
consultation be held with the designated representatives of all affected taxing entities to discuss
the proposed Amendment No. 2 and the division of revenue described therein, and that notice of
the consultation and a copy of the proposed Amendment No. 2 be sent to all affected taxing entities;
and
WHEREAS, pursuant to such notice, the consultation was duly held as ordered by the City
Council and all required responses to the recommendations made by the affected taxing entities, if
any, have been timely made as set forth in the report of the Assistant City Administrator, or his
delegate, filed herewith and incorporated herein by this reference, which report is in all respects
approved; and
WHEREAS, by resolution this Council also set a public hearing on the adoption of the
proposed Amendment No. 2 for this meeting of the Council, and due and proper notice of the
public hearing was given, as provided by law, by timely publication in the Dallas County News,
which notice set forth the time and place for this hearing and the nature and purpose thereof; and
WHEREAS, in accordance with the notice, all persons or organizations desiring to be heard
on the proposed Amendment No. 2, both for and against, have been given an opportunity to be
heard with respect thereto and due consideration has been given to all comments and views
expressed to this Council in connection therewith and the public hearing has been closed.
NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF
WAUKEE, STATE OF IOWA:
Section 1.That the findings and conclusions set forth or contained in Amendment No. 2
concerning the area of the City of Waukee, State of Iowa, described in the preamble hereof, be and
the same are hereby ratified and confirmed in all respects as the findings of this Council for this
area.
Section 2.This Council further finds:
a)Although relocation is not expected, a feasible method exists for the relocation
of any families who will be displaced from the Urban Renewal Area into decent, safe and
sanitary dwelling accommodations within their means and without undue hardship to such
families;
b)The Plan, as amended, and Amendment No. 2 conform to the general plan for
the development of the City as a whole; and
c)Acquisition by the City is not immediately expected, however, as to any areas of
open land to be acquired by the City included within the Urban Renewal Area:
i.Residential use is expected and with reference to those portions thereof
which are to be developed for residential uses, this City Council hereby determines
that a shortage of housing of sound standards and design with decency, safety and
sanitation exists within the City; that the acquisition of the area for residential uses
is an integral part of and essential to the program of the municipality; and that one
or more of the following conditions exist:
a.That the need for housing accommodations has been or will be
increased as a result of the clearance of slums in other areas, including other
portions of the urban renewal area.
b.That conditions of blight in the municipality and the shortage of
decent, safe and sanitary housing cause or contribute to an increase in and
spread of disease and crime, so as to constitute a menace to the public
health, safety, morals, or welfare.
c.That the provision of public improvements related to housing and
residential development will encourage housing and residential
development which is necessary to encourage the retention or relocation of
industrial and commercial enterprises in this state and its municipalities.
d.The acquisition of the area is necessary to provide for the
construction of housing for low and moderate income families.
ii.Non-residential use is not expected, however, with reference to any
portions thereof which are to be developed for non-residential uses, such non-
residential uses are necessary and appropriate to facilitate the proper growth and
development of the City in accordance with sound planning standards and local
community objectives.
Section 3.That the Urban Renewal Area, as amended, continues to be an economic
development area within the meaning of Chapter 403, Code of Iowa; that such area is eligible for
designation as an urban renewal area and otherwise meets all requisites under the provisions of
Chapter 403, Code of Iowa; and that the rehabilitation, conservation, redevelopment, development,
or a combination thereof, of such area is necessary in the interest of the public health, safety or
welfare of the residents of this City.
Section 4.That Amendment No. 2 to the North Waukee Residential Urban Renewal Plan
of the City of Waukee, State of Iowa, attached hereto as Exhibit 1 and incorporated herein by
reference, be and the same is hereby approved and adopted as "Amendment No. 2 to the North
Waukee Residential Urban Renewal Plan for the City of Waukee, State of Iowa"; Amendment No.
2, including all of the exhibits attached thereto, is hereby in all respects approved; and the City
Clerk is hereby directed to file a certified copy of Amendment No. 2 with the proceedings of this
meeting.
Section 5.That, notwithstanding any resolution, ordinance, plan, amendment or any other
document, Amendment No. 2 shall be in full force and effect from the date of this Resolution until
the Council amends or repeals the Plan. The proposed Amendment No. 2 shall be forthwith
certified by the City Clerk, along with a copy of this Resolution, to the Recorder for Dallas County,
Iowa, to be filed and recorded in the manner provided by law.
Section 6.That all other provisions of the Plan not affected or otherwise revised by the
terms of Amendment No. 2, as well as all resolutions previously adopted by this City Council
related to the Plan be and the same are hereby ratified, confirmed and approved in all respects.
PASSED AND APPROVED this 6th day of May, 2024.
Mayor
ATTEST:
City Clerk
AMENDMENT NO. 2
to the
NORTH WAUKEE RESIDENTIAL
URBAN RENEWAL PLAN
for the
NORTH WAUKEE RESIDENTIAL
URBAN RENEWAL AREA
WAUKEE, IOWA
Original Area – 2020
Amendment No. 1 – 2023
Amendment No. 2 – 2024
Amendment No. 2
to the
North Waukee Residential Urban Renewal Plan
for the
North Waukee Residential Urban Renewal Area
City of Waukee, Iowa
INTRODUCTION AND HISTORY
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 Plan was amended in 2023 to remove property from the Area and update
the list of urban renewal projects.
The primary goal of the Plan, as amended, remains 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 has determined that there is 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 further amended by this Amendment No. 2 (“Amendment”) to add to the list of
eligible urban renewal projects and update the Plan Objectives and Activities. No land is being
added to or removed from the Urban Renewal Area by this Amendment. Accordingly, the
previously established “base values” or “base valuations” of the Urban Renewal Area (if any) will
remain unchanged by this Amendment.
Except as modified by this Amendment, the provisions of the Urban Renewal Plan, as previously
amended, 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.
AREA DESIGNATION
The Urban Renewal Area continues to be an economic development area that is appropriate for
the provision of public improvements related to housing and residential development and
appropriate for construction of housing and residential development for low and moderate income
families.
DEVELOPMENT PLAN
The Urban Renewal Plan, as amended, and this Amendment, are in conformity with the Waukee
Comprehensive Land Use Plan, adopted in 2019, which is the City of Waukee’s (“City”) general
plan for the development of the City as a whole.
This Plan does not in any way replace or modify the City’s current land use planning or zoning
regulation process. Any 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.
AREA OBJECTIVES
Renewal activities are designed to provide opportunities, incentives, and sites for new residential
development within the Area. More specific objectives for development within the North Waukee
Residential Urban Renewal Area are as follows:
1.To increase the availability of housing opportunities, which may, in turn, attract and retain
local industries and commercial enterprises that will strengthen and revitalize the
economy of the State of Iowa and the City of Waukee.
2.To stimulate, through public action and commitment, private investment in new housing
and residential development including housing for low and moderate income families.
3.To plan for and provide sufficient land for residential development in a manner that is
efficient from the standpoint of providing municipal services.
4.To help finance the cost of constructing public utility and infrastructure extensions and
improvements in support of new housing and residential development.
5.To provide a more marketable and attractive investment climate.
6.To improve the housing conditions and housing opportunities, including housing for low
and moderate income families and/or individuals.
7.To encourage residential growth and expansion through governmental policies which
make it economically feasible to do business.
8.To promote development utilizing any other objectives allowed by Chapter 403 of the
Code of Iowa.
TYPES OF RENEWAL ACTIVITIES
To meet the objectives of this Urban Renewal Plan and to encourage the development of the Area,
the City intends to utilize the powers conferred under Chapter 403 and Chapter 15A, Code of Iowa
including, but not limited to, tax increment financing. Activities may include:
1.To undertake and carry out urban renewal projects through the execution of
contracts and other instruments.
2.To arrange for or cause to be provided the construction or upgrade of public
infrastructure improvements, including streets and sidewalks, traffic lights,
pedestrian safety measures, water, sanitary sewer, and storm sewer systems,
public utilities or other facilities or physical improvements in connection with
urban renewal projects.
3.To finance programs that will directly benefit housing conditions and promote
the availability of housing in the community.
4.To make loans, forgivable loans, grants, tax rebate payments or other types of
economic development grants or incentives to private persons, local
development organizations, or businesses for economic development purposes
on such terms as may be determined by the City Council.
5.To borrow money and to provide security therefor.
6.To acquire or dispose of property
7.To make or have made surveys and plans necessary for the implementation of
the urban renewal program or specific urban renewal projects.
8.To use tax increment financing for a number of objectives, including, but not
limited to, achieving a more marketable and competitive land offering price and
providing for necessary physical improvements and infrastructure.
9.To use tax increment for low and moderate income housing assistance.
10.To use any or all other powers granted by the Urban Renewal Act to develop
and provide for improved economic conditions for the City of Waukee and the
State of Iowa.
PREVIOUSLY APPROVED URBAN RENEWAL PROJECTS
Numerous urban renewal projects were authorized prior to the date of this Amendment and are
continuing. Such projects are not listed in this Amendment but consist of a variety of urban
renewal projects that are not altered by this Amendment.
ELIGIBLE URBAN RENEWAL PROJECTS (Amendment No. 2)
Although certain project activities may occur over a period of years, in addition to projects
previously authorized in the Plan the eligible urban renewal projects under this Amendment No. 2
include:
1.Development Agreements:
A.Development Agreement with Greater Des Moines Habitat for Humanity, Inc : The City
expects to consider a request for a development agreement with Greater Des Moines
Habitat for Humanity, Inc (“Habitat”). Pursuant to the development agreement, the City
would transfer property in the Urban Renewal Area to Habitat, upon which property
Habitat would construct approximately 48 townhomes to be sold to low and moderate
income families (“Project”). Habitat will seek assistance from the State for the Project. To
assist with a funding gap for the Project and to serve as a local match to the State assistance,
the City would provide tax increment rebates to Habitat subject to the terms and conditions
set forth in the development agreement. The costs of such development agreement will not
exceed $1,200,000.
B.Development Agreements: The City expects to consider requests for development
agreements for projects that are consistent with this Plan, in the City’s sole discretion. Such
agreements are unknown at this time, but based on past history, and dependent on
development opportunities and climate, the City expects to consider a broad range of
incentives as authorized by this Plan, including but not limited to land, loans, grants, tax
rebates, infrastructure assistance and other incentives. The costs of such development
agreements will not exceed $5,000,000.
2. Planning, engineering fees (for urban renewal plans), attorney fees, other related
costs to support urban renewal projects and planning
Project Date Estimated cost
Fees and costs Undetermined Not to Exceed
$100,000
FINANCIAL DATA
1. Current constitutional debt limit: $143,651,362
2. Current outstanding general obligation debt: $108,167,173
3. Proposed amount of indebtedness to be incurred: A specific
amount of debt to be incurred for the Eligible Urban Renewal
Projects (Amendment No. 2) has not yet been determined. This
document is for planning purposes only. The estimated project
costs in this Amendment 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. Subject to the
foregoing, it is estimated that the City’s costs for the Eligible
Urban Renewal Projects (Amendment No. 2) as described
above will be approximately as stated in the next column:
$6,300,000
This does not
include financing
costs related to
debt issuance,
which may be
incurred over the
life of the Area
nor does it include
LMI set aside
obligations.
URBAN RENEWAL FINANCING
The City intends to utilize various financing tools, such as those described below to successfully
undertake the proposed urban renewal actions. The City has the statutory authority to use a variety
of tools to finance physical improvements within the Area, as amended. These include:
A.Tax Increment Financing.
Under Section 403.19 of the Code of Iowa, urban renewal areas may utilize the tax
increment financing mechanism to finance the costs of public improvements, economic
development incentives or other urban renewal projects. Upon creation of a tax
increment district within the Area, by ordinance, the assessment base is frozen and the
amount of tax revenue available from taxes paid on the difference between the frozen
base and the increased value, if any, is segregated into a separate fund for the use by
the City to pay costs of the eligible urban renewal projects. Certain increased taxes
generated by any new development, above the base value, are distributed to the taxing
entities, if not requested by the City, and in any event upon the expiration of the tax
increment district.
B.General Obligation Bonds.
Under Division III of Chapter 384 and Chapter 403 of the Code of Iowa, the City has
the authority to issue and sell general obligation bonds for specified essential and
general corporate purposes, including the acquisition and construction of certain public
improvements within the Area, as amended, and for other urban renewal projects or
incentives for development consistent with this Plan, as amended. Such bonds are
payable from the levy of unlimited ad valorem taxes on all the taxable property within
the City. It may be the City will elect to abate some or all of the debt service on these
bonds with incremental taxes from this Area, as amended.
The City may also determine to use tax increment financing to provide incentives such as cash
grants, loans, tax rebates or other incentives to developers or private entities in connection with
the urban renewal projects identified in the Plan, as amended. In addition, the City may determine
to issue general obligation bonds, tax increment revenue bonds or such other obligations, or loan
agreements for the purpose of making loans or grants of public funds to private businesses located
in the Area for urban renewal projects. Alternatively, the City may determine to use available funds
for making such loans or grants or other incentives related to urban renewal projects. In any event,
the City may determine to use tax increment financing to reimburse the City for any obligations
or advances.
Nothing herein shall be construed as a limitation on the power of the City to exercise any lawful
power granted to the City under Chapter 15, Chapter 15A, Chapter 403, Chapter 427B, or any
other provision of the Code of Iowa in furtherance of the objectives of the Plan.
EFFECTIVE PERIOD
This Amendment No. 2 will become effective upon its adoption by the City Council and will
remain in effect until it is repealed by the City Council. Notwithstanding anything to the contrary
in the Plan, any prior amendment, resolution, or document, the Plan, as amended, shall remain in
effect until terminated by the City Council.
With respect to the property included within the North Waukee Residential Urban Renewal Area,
which is also included in an ordinance, the use of incremental property tax revenues or the
"division of revenue," as those words are used in Chapter 403 of the Code of Iowa, to provide or
to assist in the provision of public improvements related to housing and residential development,
is limited to ten (10) years beginning with the second fiscal year following the year in which the
City first certifies to the County Auditor the amount of any loans, advances, indebtedness, or bonds
which qualify for payment from the incremental property tax revenues attributable to that property
within the North Waukee Residential Urban Renewal Area. With respect to the property included
within the North Waukee Residential Urban Renewal Area, which is also included in an ordinance,
the use of incremental property tax revenues or the "division of revenue," as those words are used
in Chapter 403 of the Code of Iowa, to provide or to assist in constructing housing and residential
development for low and moderate income families, is limited to twenty (20) years.
It is anticipated that separate TIF ordinances for separate lots/parcel(s) may be adopted as
development in the Area warrants such that property in each TIF ordinance may have a separate
base value year and the division of revenue in each TIF ordinance may have a separate expiration
date.
At all times, the use of tax increment financing revenues (including the amount of loans, advances,
indebtedness or bonds which qualify for payment from the division of revenue provided in Section
403.19 of the Code of Iowa) by the City for activities carried out under the North Waukee
Residential Urban Renewal Plan shall be limited as deemed appropriate by the City Council and
consistent with all applicable provisions of law.
REPEALER AND SEVERABILITY CLAUSE
Any parts of the previous Plan in conflict with this Amendment are hereby repealed.
If any part of this Amendment or the Plan is determined to be invalid or unconstitutional, such
invalidity or unconstitutionality shall not affect the validity of the Amendment or the Plan as a
whole, or any part of the Amendment or the Plan not determined to be invalid or unconstitutional.
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