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HomeMy WebLinkAbout2024-09-03 H02B URA The Quarter Commercial Amendment 1_ResolutionAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: September 3, 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. 1 to the Quarter Commercial Residential Urban Renewal Plan FORMAT:Resolution SYNOPSIS INCLUDING PRO & CON: City Council adopted The Quarter Urban Renewal Plan on December 19, 2022. The proposed Amendment No. 1 includes addition of certain property to the Urban Renewal Area and updates previously approved projects and 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 on August 12, 2024, at 2 pm. No one attended the meeting. Staff has not received any correspondence related to the proposed amendment. RECOMMENDATION: Approve Resolution ATTACHMENTS: I. Amendment No. 1 Quarter Commercial Urban Renewal Plan II. Resolution PREPARED BY:Jennifer Brown REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: Dallas County DATE OF PUBLICATION: August 29, 2024 H2B RESOLUTION NO. ______ RESOLUTION DETERMINING AN AREA OF THE CITY TO BE 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. 1 TO THE QUARTER COMMERCIAL URBAN RENEWAL PLAN WHEREAS, by Resolution No. 2022-535, adopted December 19, 2022, 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 Quarter Commercial Urban Renewal Plan (the "Plan" or "Urban Renewal Plan") for The Quarter Commercial 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, this Urban Renewal Area currently includes and consists of: Lots 2-3 and 5-15, Outlot Y, and Outlot Z of KeeTown Loop Plat 1, an Official Plat, now including and forming a part of the City of Waukee, Dallas County, Iowa (Parcel #1604480002, 160448004 through 1604480016, 1604377001; and Lots 1-3, KeeTown Loop Plat 2, and an Official Plat, now including and forming a part of the City of Waukee, Dallas County, Iowa (Parcel #1604481001 – 1604481003); and Lots A, B, C and D of The Shops at Kettlestone North Plat 4, an Official Plat, City of Waukee, Dallas County, Iowa (Parcel #1604332002). WHEREAS, a proposed Amendment No. 1 to the Plan ("Amendment No. 1" 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 update the description of a previously approved urban renewal project to be undertaken within the Urban Renewal Area and to add land to the Urban Renewal Area; 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. 1 adds the following land to the Urban Renewal Area: Parcel 1604376004 shown as Outlot V in THE SHOPS AT KETTLESTONE NORTH PLAT 4, an Official Plat, now included in and forming a part of the City of Waukee, Dallas County, Iowa, Except Parcel ‘19-92’ of a part of said Outlot V as shown in Survey filed in Book 2019, Page 16817 and Except Parcel ‘21-94’ of a part of said Outlot V as shown in Survey recorded in Book 2021, Page 28853 WHEREAS, by resolution adopted on August 5, 2024, this Council directed that a consultation be held with the designated representatives of all affected taxing entities to discuss the proposed Amendment No. 1 and the division of revenue described therein, and that notice of the consultation and a copy of the proposed Amendment No. 1 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 Economic Development Director, or her 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. 1 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. 1, 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. 1 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. 1 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 not expected, however, with reference to any 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 expected and with reference to those 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. 1 to The Quarter Commercial 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. 1 to The Quarter Commercial Urban Renewal Plan for the City of Waukee, State of Iowa"; Amendment No. 1, 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. 1 with the proceedings of this meeting. Section 5.That, notwithstanding any resolution, ordinance, plan, amendment or any other document, Amendment No. 1 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. 1 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. 1, 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 3rd day of September, 2024. Mayor ATTEST: City Clerk Label the Amendment as Exhibit 1 (with all exhibits) and attach it to this Resolution. Final AMENDMENT NO. 1 to THE QUARTER COMMERCIAL URBAN RENEWAL PLAN for THE QUARTER COMMERCIAL URBAN RENEWAL AREA CITY OF WAUKEE, IOWA Original Plan – December 2022 Amendment No. 1 – September 2024 - 2 - Final AMENDMENT NO. 1 TO THE QUARTER COMMERCIAL URBAN RENEWAL PLAN CITY OF WAUKEE, IOWA The Quarter Commercial Urban Renewal Plan ("Plan" or "Urban Renewal Plan") for The Quarter Commercial Urban Renewal Area ("Area" or "Urban Renewal Area") was adopted by Resolution No. 2022-535 on December 19, 2022. The Urban Renewal Plan is now being amended by this Amendment No. 1 to the Plan ("Amendment" or "Amendment No. 1") to update the description of a previously approved urban renewal project to be undertaken within the Urban Renewal Area and to add land to the Urban Renewal Area. Except as modified by this Amendment No. 1, the provisions of the original 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 No. 1 shall control. Any subsections not mentioned in this Amendment No. 1 shall continue to apply to the Plan. DESCRIPTION OF URBAN RENEWAL AREA The legal description of the property being added to the Urban Renewal Area is attached hereto as Exhibit “A” and may be referred to as the “Amendment No. 1 Subarea”. A map of The Quarter Commercial Urban Renewal Area, as amended by this Amendment No. 1, is attached hereto as Exhibit “B.” DEVELOPMENT PLAN The City has a general plan for the physical development of the City as a whole outlined in the Waukee Comprehensive Land Use Plan, adopted in 2019. The goals and objectives of the Plan, and the projects outlined in this Amendment, are in conformity with the Waukee Comprehensive Land Use Plan, adopted in 2019. The Plan does not in any way replace or modify 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, if any, is set forth in the Plan. As the Area develops, the need for public infrastructure extensions and upgrades will be evaluated and planned for by the City. - 3 - Final UPDATE TO PREVIOUSLY APPROVED URBAN RENEWAL PROJECT Numerous urban renewal projects were authorized prior to the date of this Amendment and may be continuing. With the adoption of this Amendment, the City is updating the description of the following previously authorized project: 1. Development Agreement with The Quarter at Waukee, L.L.C.: In the original Plan, the City approved a Development Agreement with the Quarter at Waukee, L.L.C. (“Developer”) as a project in the Urban Renewal Area. Additional changes to the project have now been identified by Developer including improvements to be added to the Amendment No. 1 Subarea. Subject to the terms and conditions set forth in the Agreement, as amended from time to time, the City would provide Developer with Economic Development Grants to incentivize a total of an anticipated seventeen (17) commercial buildings and related site improvements, with a total investment of approximately $112,000,000. The City expects to make Economic Development Grants to Developer in the form of rebates of varying percentages of incremental taxes generated by the separate buildings over a period of twelve (12), sixteen (16) or twenty (20) years, depending on the nature of the specific commercial building as described in the Agreement. The cumulative total of all such grants is not expected to exceed $41,000,000 and will be subject to the terms and conditions of a detailed development agreement. FINANCIAL DATA 1.Current constitutional debt limit:$215,542,750 2.Current outstanding general obligation debt:$164,173,921 3. Proposed amount of indebtedness to be incurred: A specific amount of debt to be incurred for the urban renewal projects described herein has not yet been determined. 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. 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 Update to Previously Approved Urban Renewal Project (Amendment No. 1) as described above will be approximately as follows: Increase to Previously Approved Urban Renewal Project: $6,000,000 Total for Updated Project: $41,000,000 This total does not include financing costs related to debt issuance, which may be incurred over the life of the Area. - 4 - Final EFFECTIVE PERIOD This Amendment No. 1 will become effective upon its adoption 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. 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, will be consistent with Chapter 403 of the Iowa Code. Nothing in this Amendment shall alter the duration of the division of revenue as previously explained in the Plan, as previously amended. REPEALER AND SEVERABILITY CLAUSE Any parts of the 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. - 5 - Final EXHIBIT A LAND TO BE ADDED TO THE QUARTER COMMERCIAL URBAN RENEWAL AREA BY AMENDMENT NO. 1 Parcel 1604376004 shown as Outlot V in THE SHOPS AT KETTLESTONE NORTH PLAT 4, an Official Plat, now included in and forming a part of the City of Waukee, Dallas County, Iowa, Except Parcel ‘19-92’ of a part of said Outlot V as shown in Survey filed in Book 2019, Page 16817 and Except Parcel ‘21-94’ of a part of said Outlot V as shown in Survey recorded in Book 2021, Page 28853 - 6 - Final EXHIBIT B MAP OF THE QUARTER COMMERCIAL URBAN RENEWAL AREA, AS AMENDED BY AMENDMENT NO. 1 02379804\21938-349