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Home My WebLink About2024-10-07 Ordinance 3126_Urban Renewal Plan, The Quarter Commercial Amendment 1ORDINANCE NO. 3126 AN ORDINANCE AMENDING ORDINANCE NO. 3064, PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL TAXABLE PROPERTY LOCATED WITHIN THE QUARTER COMMERCIAL URBAN RENEWAL AREA, AS AMENDED, IN THE CITY OF WAUKEE, COUNTY OF DALLAS, STATE OF IOWA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF WAUKEE, COUNTY OF DALLAS, WAUKEE COMMUNITY SCHOOL DISTRICT, AND OTHER TAXING DISTRICTS, BE PAID TO A SPECIAL FUND FOR PAYMENT OF PRINCIPAL AND INTEREST ON LOANS, MONIES ADVANCED TO AND INDEBTEDNESS, INCLUDING BONDS ISSUED OR TO BE ISSUED, INCURRED BY THE CITY IN CONNECTION WITH THE AMENDED THE QUARTER COMMERCIAL URBAN RENEWAL AREA (AMENDMENT NO. 1 TO THE QUARTER COMMERCIAL URBAN RENEWAL PLAN) WHEREAS, the City Council of the City of Waukee, State of Iowa, has heretofore, in Ordinance No. 3064, provided for the division of taxes within the taxable property contained in The Quarter Commercial Urban Renewal Area ("Area" or "Urban Renewal Area"), pursuant to Section 403.19, Code of Iowa; and WHEREAS, additional taxable territory now has been added to The Quarter Commercial Urban Renewal Area through the adoption of Amendment No. 1 to The Quarter Commercial Urban Renewal Plan; and WHEREAS, indebtedness has been incurred by the City, and additional indebtedness is anticipated to be incurred in the future, to finance urban renewal project activities within the amended The Quarter Commercial Urban Renewal Area, and the continuing needs of redevelopment within the amended The Quarter Commercial Urban Renewal Area are such as to require the continued application of the incremental tax resources of the amended The Quarter Commercial Urban Renewal Area; and WHEREAS, the following enactment is necessary to accomplish the objectives described in the premises. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WAUKEE, STATE OF IOWA, THAT: Ordinance Number 3064 is hereby amended to read as follows: Section 1. For purposes of this Ordinance, the following terms shall have the following meanings: a) Original Area means that portion of the City of Waukee, State of Iowa, described in the Urban Renewal Plan for The Quarter Commercial Urban Renewal Area approved by Resolution No. 2022-535 on the 19th day of December, 2022, which Original Area includes the lots and parcels located within the area legally described as follows: 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; 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 [Note: The Original Area includes additional lots and parcels forming non- taxable, public road right -of --way that is not being included in this Ordinance] b) Amendment No. 1 Area means that portion of the City of Waukee, State of Iowa, described in Amendment No. 1 to the Urban Renewal Plan for The Quarter Commercial Urban Renewal Area approved by Resolution No. 2024-376 on the 3rd day of September, 2024, which Amendment No. 1 Area includes the lots and parcels located within the area legally described as follows: 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 c) Amended Area means that portion of the City of Waukee, State of Iowa, included within the Original Area and the Amendment No. 1 Area , which Amended Area includes the lots and parcels located within the area legally described in subsections (a)—(b). Section 2. The taxes levied on the taxable property in the Amended Area, legally described in Section 1 hereof, by and for the benefit of the State of Iowa, County of Dallas, Iowa, Waukee Community School District, and all other taxing districts from and after the effective date of this Ordinance shall be divided as hereinafter in this Ordinance provided. Section 3. As to the Original Area, that portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts taxing property in the Original Area upon the total sum of the assessed value of the taxable property in the Original Area as shown on the assessment roll as of January 1, 2022, being January 1 of the calendar year preceding the first calendar year in which the municipality certified to the county auditor the amount of loans, advances, indebtedness, or bonds payable from the division of property tax revenue described in Ordinance No. 3064, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for the taxing district into which all other property taxes are paid. The taxes so determined shall be referred herein as the "base period taxes" for such area. 2 As to Amendment No. 1 Area, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2023, being the assessment roll applicable to the property in such area as of January 1 of the calendar year preceding the effect date of this Ordinance. Section 4. That portion of the taxes each year in excess of the base period taxes for the Amended Area, determined for each sub -area thereof as provided in Section 3 of this Ordinance, shall be allocated to and when collected be paid into the special tax increment fund previously established by the City of Waukee, State of Iowa, to pay the principal of and interest on loans, monies advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Section 403.9 or Section 403.12, Code of Iowa, incurred by the City of Waukee, State of Iowa, to finance or refinance, in whole or in part, urban renewal projects undertaken within the Amended Area pursuant to the Urban Renewal Plan, as amended, except that (i) taxes for the regular and voter -approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2, Code of Iowa, and taxes for the instructional support program of a school district imposed pursuant to Section 257.19, Code of Iowa,(but in each case only to the extent required under Section 403.19(2), Code of Iowa); (ii) taxes for the payment of bonds and interest of each taxing district; (iii) taxes imposed under Section 346.27(22), Code of Iowa, related to joint county -city buildings; and (iv) any other exceptions under Section 403.19, Code of Iowa, shall be collected against all taxable property within the Amended Area without any limitation as hereinabove provided. Section 5. Unless or until the total assessed valuation of the taxable property in the sub- areas of the Amended Area exceeds the total assessed value of the taxable property in the sub- areas shown by the assessment rolls referred to in Section 3 of this Ordinance, all of the taxes levied and collected upon the taxable property in the Amended Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes. Section 6. At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Waukee, State of Iowa, referred to in Section 4 hereof have been paid, all monies thereafter received from taxes upon the taxable property in the Amended Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. Section 7. All ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. The provisions of this Ordinance are intended and shall be construed so as to continue the division of taxes from property within the Original Area under the provisions of Section 403.19, Code of Iowa, as authorized in Ordinance No. 3064, and to fully implement the provisions of Section 403.19, Code of Iowa, with respect to the division of taxes from property within the Amendment No. 1 Area as described above. Notwithstanding any provisions in any prior Ordinances or other documents, the provisions of this Ordinance and all prior Ordinances relating to the Urban Renewal Area, as amended, shall be construed to continue the division of taxes from property within the Area to the maximum period of time allowed by Section 403.19, Code of Iowa. In the event that any provision of this Ordinance shall be determined to be contrary to law it shall not affect other provisions or application of this Ordinance which shall at all times be construed to fully invoke the provisions of Section 403.19, Code of Iowa, with reference to the Amended Area and the territory contained therein. Section 8. This Ordinance shall be in effect after its final passage, approval and publication as provided by law. PASSED AND APPROVED this 7th day of October, 2024. ATTEST: City Clerk Mayor 4