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HomeMy WebLinkAbout2024-08-05 Resolution 2024-315_First Amendment to Development Agreement, Stivers Iowa Real Estate LLC, Ed Stivers Ford IncRESOLUTION NO. 2024-315 RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A FIRST AMENDMENT TO THE AGREEMENT FOR PRIVATE DEVELOPMENT BY AND AMONG THE CITY OF WAUKEE, STIVERS IOWA REAL ESTATE, L.L.C., AND ED STIVERS FORD, INC. WHEREAS, the City of Waukee, Iowa ("City"), Stivers Iowa Real Estate, L.L.C. (the "Developer"), and Ed Stivers Ford, Inc. (the "Employer") previously entered into an Agreement for Private Development dated August 21, 2023 ("Agreement"), pursuant to which, among other things, the Developer agreed to construct certain Minimum Improvements (as defined in the Agreement); the Employer agreed to occupy and operate its business on the Development Property (as defined in the Agreement); and the City agreed to provide certain incentives in exchange for Developer's and Employer's obligations, under the terms and conditions of the Agreement; and WHEREAS, the City, Developer, and Employer desire to amend the Agreement pursuant to a proposed First Amendment to the Agreement (the "Amendment") to modify the description of the Minimum Improvements to accommodate changes to the Ford EV program requirement; 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 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 Urban Renewal Law and, further, that the Agreement, as amended by the 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. 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 Amendment and the Agreement, as amended, be and is hereby declared to be a public undertaking and purpose and in furtherance of the Urban Renewal Law and, further, that the Agreement, as amended by the 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 the factors set forth therein. Section 2. That the form and content of the 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 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 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, as amended, and the Amendment as executed. PASSED AND APPROVED this 5t' day of August, 2024. ATTEST: City Clerk RESULTS OF VOTE: AYE R. Charles Bottenberg X Chris Crone X Rob Grove X Anna Bergman Pierce X Ben Sinclair X ty- Mayor NAY ABSENT ABSTAIN