HomeMy WebLinkAbout2024-08-05 I01G_04 TIC Properties Development Agreement_Approved CostsAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: August 5, 2024
AGENDA ITEM:Consideration of approval of a resolution accepting Development
Agreement Developer Certification of Approved Costs for TIC
Properties, LLC
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON:
TIC Properties, LLC developed Iowa Clinic and Surgery Center located at 1025 SE Tallgrass Ln.
The development agreement between the City and TIC Properties, LLC includes a 60,000 SF
multi-specialty medical clinic and surgery center, as well as the design and construction of a road.
Public improvements were completed and dedicated to the City on February 15, 2024. The
receipts and invoices for the public improvement costs are included, per the development
agreement. Total costs submitted $1.45M, which is less than the anticipated maximum grant
amount of $1.67M.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
New capital investment in the City of Waukee is $20M.
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve Resolution
ATTACHMENTS: I. Resolution
PREPARED BY: Jennifer Brown, Director of Economic Development
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
I1G4
THE CITY OF WAUKEE, IOWA
RESOLUTION 2024
APPROVING RESOLUTION ACCEPTING DEVELOPER CERTIFICATION OF
APPROVED COSTS [TIC PROPERTIES, LLC]
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, on September 6, 2022, the Waukee City Council approved a Development Agreement by
and among the City of Waukee and TIC Properties, LLC (Resolution #2022-362); AND,
WHEREAS, pursuant to the terms of the Development Agreement, the Developer is obligated to
submit expenses incurred for Public Improvements as defined within the Development Agreement;
AND,
WHEREAS, the Developer has submitted documentation of costs totaling $1,494,952.37 to the City
demonstrating that they have met and are in compliance with the Development Agreement.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council that the Developer
Certification of Approved Costs [Central Iowa Hospital Corporation], is hereby accepted and that the
Mayor is authorized to execute the same on behalf of the City.
BE IT FURTHER RESOLVED that the City Clerk is directed to record the executed Developer
Certification of Approved Costs, with the County Recorder of Dallas County.
Passed by the City Council of the City of Waukee, Iowa, and approved this the 5th day of August,
2024.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman
R. Charles Bottenberg
Chris Crone
Robert Grove
Ben Sinclair