HomeMy WebLinkAbout2025-11-03 G11 Kettlestone Phase 5 Commercial URA_PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: November 3, 2025
AGENDA ITEM:On the proposed Kettlestone Phase 5 Commercial Urban Renewal Plan
FORMAT:Public Hearing
SYNOPSIS INCLUDING PRO & CON: The proposed Kettlestone Phase 5 Commercial Urban
Renewal Plan establishes a new urban renewal area to promote commercial and industrial
development consistent with Waukee’s Comprehensive Plan. The plan authorizes the use of tax
increment financing (TIF) to fund public infrastructure and economic development projects.
The primary project under the plan is a Development Agreement with Caliber Land Company,
LLC, Kettlestone Central, L.C., and the Iowa Youth Athletic Foundation (IYAF) for construction
of the $40 million sports arena and commercial improvements. The City may provide
up to $55 million in tax rebates, subject to annual appropriation, and may amend the plan in the
future as development continues.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Staff held a consultation meeting on Monday, October
13, 2025, and invited all affected taxing entities within the Plan area to review the proposal. No
representatives attended the meeting. The Planning and Zoning Commission reviewed the plan
for conformance with the City’s Comprehensive Plan on October 28, 2025.
RECOMMENDATION: Staff recommends holding a public hearing on the proposed
Kettlestone Phase 5 Commercial Urban Renewal Plan.
ATTACHMENTS: I. Public Hearing Notice
II. Kettlestone Phase 5 Commercial Urban Renewal Plan
III Letter from P&Z
PREPARED BY:Jennifer Brown
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION: Dallas County News
DATE OF PUBLICATION: October 30, 2025
G11
(One publication required)
NOTICE OF PUBLIC HEARING TO CONSIDER APPROVAL
OF A PROPOSED KETTLESTONE PHASE 5 COMMERCIAL
URBAN RENEWAL PLAN FOR A PROPOSED URBAN
RENEWAL AREA IN THE CITY OF WAUKEE, STATE OF
IOWA
The City Council of the City of Waukee, State of Iowa, will hold a public hearing before
itself at its meeting which commences at 5:30 P.M. on November 3, 2025 in the Council Chambers,
City Hall, 230 West Hickman Road, Waukee, Iowa, to consider adoption of a proposed Kettlestone
Phase 5 Commercial Urban Renewal Plan (the "Plan") concerning a proposed Urban Renewal
Area in the City of Waukee, State of Iowa.
The Kettlestone Phase 5 Commercial Urban Renewal Area is proposed to contain the land
legally described as follows:
Lot 14, Kettlestone Central Plat 1, an Official Plat, now included in and forming a
part of the City of Waukee, Dallas County, Iowa; and
Street Lot A, Kettlestone Central Plat 1, an Official Plat, now included in and
forming a part of the City of Waukee, Dallas County, Iowa; and
Street Lots A and B, Kettlestone Central Apartments Plat 1, an Official Plat, now
included in and forming a part of the City of Waukee, Dallas County, Iowa; and
Parcel 22-121 a part of Parcel 21-96 as shown on the Plat of Survey recorded in
Book 2021, Page 31554 being a part of Government Lot 12 in Section 3 and a part
of Government Lot 16 in Section 4, all being in Township 78 North, Range 26 West
of the Fifth Principal Meridian in the City of Waukee, Dallas County, Iowa; and
Lot 1, Kettlestone Central DWR Plat 1, an Official Plat, now included in and
forming a part of the City of Waukee, Dallas County, Iowa.
A copy of the Plan is on file for public inspection in the office of the City Clerk, City Hall,
City of Waukee, Iowa.
The City of Waukee, State of Iowa is the local public agency which, if such Plan is
approved, shall undertake the urban renewal activities described in such Plan.
The general scope of the urban renewal activities under consideration in the Plan is to
promote the growth and retention of qualified industries and businesses in the Urban Renewal Area
through various public purpose and special financing activities outlined in the Plan. To accomplish
the objectives of the Plan, and to encourage the further economic development of the Urban
Renewal Area, the Plan provides that such special financing activities may include, but not be
limited to, the making of loans or grants of public funds to private entities under Chapter 15A,
Code of Iowa. The City also may reimburse or directly undertake the installation, construction
and reconstruction of substantial public improvements, including, but not limited to, street, water,
sanitary sewer, storm sewer or other public improvements. The City also may acquire and make
land available for development or redevelopment by private enterprise as authorized by law. The
Plan provides that the City may issue bonds or use available funds for purposes allowed by the
Plan and that tax increment reimbursement of the costs of urban renewal projects may be sought
if and to the extent incurred by the City. The Plan initially proposes no specific public
infrastructure or site improvements to be undertaken by the City, and provides that the Plan may
be amended from time to time.
Any person or organization desiring to be heard shall be afforded an opportunity to be
heard at such hearing.
This notice is given by order of the City Council of the City of Waukee, State of Iowa, as
provided by Section 403.5, Code of Iowa.
Dated this 6th day of October, 2025.
Rebecca D. Schuett
City Clerk, City of Waukee, State of Iowa
(End of Notice)
4930-2024-0473-1\21938-385
Final- II
KETTLESTONE PHASE 5 COMMERCIAL
URBAN RENEWAL PLAN
for the
KETTLESTONE PHASE 5 COMMERCIAL
URBAN RENEWAL AREA
CITY OF WAUKEE, IOWA
2025
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TABLE OF CONTENTS
SECTION
A.INTRODUCTION
B.DESCRIPTION OF THE PHASE 5 URBAN RENEWAL AREA
C.AREA DESIGNATION
D.BASE VALUE
E.DEVELOPMENT PLAN
F.PLAN OBJECTIVES
G.TYPES OF RENEWAL ACTIVITIES
H.ELIGIBLE URBAN RENEWAL PROJECTS
I.FINANCIAL INFORMATION
J.URBAN RENEWAL FINANCING
K.PROPERTY ACQUISITION/DISPOSITION
L.RELOCATION
M.PROPERTY WITHIN AN URBAN REVITALIZATION AREA
N.STATE AND LOCAL REQUIREMENTS
O.SEVERABILITY
P.URBAN RENEWAL PLAN AMENDMENTS
Q.EFFECTIVE PERIOD
R.AGREEMENT TO INCLUDE AGRICULTURAL LAND
EXHIBITS
A.LEGAL DESCRIPTION OF KETTLESTONE PHASE 5 COMMERCIAL URBAN
RENEWAL AREA
B.KETTLESTONE PHASE 5 COMMERCIAL URBAN RENEWAL AREA MAP
C.AG LAND CONSENT AGREEMENT
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Kettlestone Phase 5 Commercial Urban Renewal Plan
for the
Kettlestone Phase 5 Commercial Urban Renewal Area
City of Waukee, Iowa
A. INTRODUCTION
The Kettlestone Phase 5 Commercial Urban Renewal Plan (“Phase 5 Plan” or “Phase 5 Urban
Renewal Plan”) for the Kettlestone Phase 5 Commercial Urban Renewal Area (“Phase 5 Area” or
“Phase 5 Urban Renewal Area”) has been developed to help local officials promote commercial
and industrial economic development in the City of Waukee, Iowa (the “City”). In order to achieve
this objective, the City intends to undertake urban renewal activities pursuant to the powers granted
to it under Chapter 403 of the Code of Iowa, as amended.
B. DESCRIPTION OF THE PHASE 5 URBAN RENEWAL AREA
The Phase 5 Urban Renewal Area is described in Exhibit “A” and illustrated in Exhibit “B.” The
City reserves the right to modify the boundaries of the Area at some future date.
C. PHASE 5 AREA DESIGNATION
With the adoption of this Phase 5 Plan, the City designates this Phase 5 Urban Renewal Area as
an area appropriate for the promotion of economic development (commercial and industrial
development).
D. BASE VALUE
If the Phase 5 Urban Renewal Area is legally established, a Tax Increment Financing (TIF)
Ordinance is adopted, and debt is certified prior to December 1, 2025, the taxable valuation as of
January 1, 2024, will be considered the frozen “base valuation” of the taxable property within that
area covered by the TIF ordinance. If a TIF Ordinance is not adopted until a later date, or debt is
not first certified prior to December 1, 2025, the frozen “base value” will be the assessed value of
the taxable property within that area covered by the TIF Ordinance as of January 1 of the calendar
year preceding the calendar year in which the City first certifies the amount of any debt on the
Phase 5 Area.
E. 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 proposed in
this Phase 5 Plan, and the urban renewal projects described herein, are in conformity with the land
use policies and plans for the development of the City as a whole established in the Waukee
Comprehensive Land Use Plan.
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The Phase 5 Urban Renewal Plan does not in any way replace the City’s current land use planning
or zoning regulation process. The land being included in the Phase 5 Urban Renewal Area is
currently zoned as K-RR (Kettlestone Regional Retail District), but may be rezoned, if needed, in
accordance with the City’s standard zoning processes.
The need, if any, for improved traffic, public transportation, public utilities, recreational and
community facilities, or other public improvements within the Phase 5 Urban Renewal Area is set
forth in this Phase 5 Plan. As the Phase 5 Area continues to develop, the need for public
infrastructure extensions and upgrades will be evaluated and planned for by the City.
F. PLAN OBJECTIVES
Renewal activities are designed to provide opportunities, incentives, and sites to promote
economic development (commercial and industrial). More specific objectives for the development,
redevelopment, and rehabilitation within the Phase 5 Urban Renewal Area are as follows:
1.To achieve a diversified, well-balanced economy providing a desirable standard of living,
creating job opportunities, and strengthening the tax base.
2.To plan for and provide sufficient land for commercial and industrial development in a
manner that is efficient from the standpoint of providing municipal services.
3.To provide for the installation of public works and facilities including, but not limited to,
water, sanitary sewer and other public improvements, which contribute to the revitalization
of the area and to the sound development of the entire City.
4.To encourage commercial growth and expansion through governmental policies which
make it economically feasible to do business.
5.To provide a more marketable and attractive investment climate through the use of various
federal, state and local incentives.
6.To stimulate, through public action and commitment, private investment in new and
expanded commercial and industrial development.
7.To improve the conditions and opportunities for economic development (commercial and
industrial).
8.To help develop a sound economic base that will serve as the foundation for future growth
and development.
9.To enhance the City by fostering an entrepreneurial climate, diversifying the local
economy, encouraging opportunities for new businesses, and supporting retention of
existing businesses.
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10.To enhance the health, safety, living environment, general character, and general welfare
of Waukee, Iowa.
11.To promote development utilizing any other objectives allowed by Chapter 403 of the Code
of Iowa.
G. TYPES OF RENEWAL ACTIVITIES
To meet the objectives of this Phase 5 Urban Renewal Plan and to encourage the development of
the Phase 5 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 repair of public
infrastructure including but not limited to streets, curb and gutter, street lighting,
water, sanitary sewer, public utilities or other facilities in connection with urban
renewal projects.
3.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.
4.To borrow money and to provide security therefor.
5.To acquire or dispose of property.
6.To provide for the construction of specific site improvements such as grading and
site preparation activities, access roads and parking, fencing, utility connections,
and related activities.
7. To make or have made surveys and plans necessary for the implementation of the
Urban Renewal Plan or specific urban renewal projects.
8. To use any or all other powers granted by the Urban Renewal Act to develop and
provide for improved economic conditions for the City.
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 this Urban Renewal Plan.
H. ELIGIBLE URBAN RENEWAL PROJECTS
Although certain project activities may occur over a period of years, the eligible urban renewal
projects under this Phase 5 Urban Renewal Plan include:
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1. Development Agreement with IYAF and related entities:
The City previously entered into a Development Agreement (the “Agreement”) with
Caliber Land Company, LLC, Kettlestone Central, L.C., and Iowa Youth Athletic
Foundation (collectively of purposes of this description the “Developers”), pursuant to
which the Developers would cause the completion of a sports arena and commercial
complex in four phases. The Developers have now proposed an amendment to the
Agreement pursuant to which the project would be completed in five phases (instead of
four. For purposes of this Phase 5 Plan, the eligible urban renewal project is the completion
and operation of an athletic complex comprised of two buildings totaling 102,000 square
feet and 12 courts to be used for athletic competition, requiring a total investment of
approximately $40,000,000 (“Arena Improvements”) in addition to an approximately
12,300 square feet commercial building within the Phase 5 Area (“Phase 5 Commercial
Improvements”), which development will further the purposes of the Phase 5 Plan. The
City expects to provide Developers with Economic Development Grants in the form of
rebates of incremental taxes generated by the Phase 5 Commercial Improvements, in an
aggregate amount among all five phases of not to exceed $55,000,000. The Economic
Development Grants will be subject to annual appropriation and the detailed terms and
conditions in the Agreement.
2. Planning, Engineering Fees (for Urban Renewal Plans), Attorney Fees,
Administrative, and Other Related Costs to Support Urban Renewal Projects and
Planning:
Project Estimated Date Estimated Cost to be Funded by TIF Funds
Fees and Costs Undetermined Not to Exceed $1,000,000
I. FINANCIAL INFORMATION
1. Current Constitutional Debt Limit $215,542,750
2.Current Outstanding General Obligation Debt $167,060,089
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3. Proposed amount of indebtedness to be incurred: A
specific amount of debt to be incurred for the Eligible
Urban Renewal Projects has not yet been determined.
This document is for planning purposes only. The
estimated project costs in this Plan 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 Phase 5 Urban Renewal Area. Subject
to the foregoing, it is estimated that the cost of the
Eligible Urban Renewal Projects as described above will
be approximately as stated in the next column:
$56,000,000
This includes the cost incurred
for all four phases of planned
development and does not
include financing costs related
to debt issuance, which may be
incurred over the life of the
Area.
J. 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 Phase 5 Area. 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. The 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 or incentives for development consistent with this Plan.
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.
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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 this Plan. 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 this Urban Renewal Plan.
K. PROPERTY ACQUISITION/DISPOSITION
The City will follow any applicable requirements for the acquisition and disposition of property
within the Phase 5 Urban Renewal Area.
L. RELOCATION
The City does not expect there to be any relocation required of residents or businesses as part of
the proposed urban renewal project; however, if any relocation is necessary, the City will follow
all applicable relocation requirements.
M. PROPERTY WITHIN AN URBAN REVITALIZATION AREA
The Phase 5 Urban Renewal Area may (now or in the future) also be located within an established
Urban Revitalization Area. Properties within the Phase 5 Urban Renewal Area shall not be eligible
for tax abatement under an Urban Revitalization Plan without the City Council’s specific approval.
The City Council, at its sole discretion, shall determine which incentives are available through
either: (a) this Plan for urban renewal incentives, if any urban renewal incentives are offered by
the City, at the City Council’s sole discretion; or (b) tax abatement incentives through the City’s
Urban Revitalization Plan(s); or (c) a combination of urban renewal incentives and tax abatement
incentives.
N. STATE AND LOCAL REQUIREMENTS
The City will comply with all State and local laws related to implementing this Phase 5 Urban
Renewal Plan and its supporting documents.
O. SEVERABILITY
In the event one or more provisions contained in the Phase 5 Urban Renewal Plan shall be held for
any reason to be invalid, illegal, unauthorized, or unenforceable in any respect, such invalidity,
illegality, un-authorization, or unenforceability shall not affect any other provision of this Phase 5
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Urban Renewal Plan, and this Phase 5 Urban Renewal Plan shall be construed and implemented
as if such provisions had never been contained herein.
P. URBAN RENEWAL PLAN AMENDMENTS
This Phase 5 Urban Renewal Plan may be amended from time to time for a number of reasons
including, but not limited to, adding or deleting land, adding or amending urban renewal projects,
or modifying goals or types of renewal activities. The City Council may amend this Phase 5 Plan
in accordance with applicable State law.
Q. EFFECTIVE PERIOD
This Phase 5 Urban Renewal Plan will become effective upon its adoption by the City Council and
shall remain in effect until terminated by the City Council.
With respect to the property included within the Phase 5 Urban Renewal Area, which is also
included in a Tax Increment Financing (TIF) ordinance which designates that property as a tax
increment area and is designated based on an economic development finding, 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, is limited to twenty (20) years beginning with the first calendar year
following the calendar 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 a TIF Ordinance of the Phase 5 Urban
Renewal Area. The division of revenues shall continue on the Phase 5 Urban Renewal Area for
the maximum period allowed by law.
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 Phase 5 Urban Renewal
Area shall be limited as deemed appropriate by the City Council and consistent with all applicable
provisions of law.
R. AGREEMENT TO INCLUDE AGRICULTURAL LAND
Because some of the area included in the Phase 5 Urban Renewal Area contains land that is defined
as "agricultural land" by Iowa Code Section 403.17(3), the property owner has entered into an
agreement in which the property owner agrees to allow the City to include real property defined
as "Agricultural Land" in the Phase 5 Urban Renewal Area. A copy of the signed agreement is
attached as Exhibit "C”. The original signed agreement will be on file at the City Clerk's office.
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EXHIBIT A
LEGAL DESCRIPTION OF
KETTLESTONE PHASE 5 COMMERCIAL URBAN RENEWAL AREA
Lot 14, Kettlestone Central Plat 1, an Official Plat, now included in and forming a part of the
City of Waukee, Dallas County, Iowa; and
Street Lot A, Kettlestone Central Plat 1, an Official Plat, now included in and forming a part
of the City of Waukee, Dallas County, Iowa; and
Street Lots A and B, Kettlestone Central Apartments Plat 1, an Official Plat, now included in
and forming a part of the City of Waukee, Dallas County, Iowa; and
Parcel 22-121 a part of Parcel 21-96 as shown on the Plat of Survey recorded in Book 2021,
Page 31554 being a part of Government Lot 12 in Section 3 and a part of Government Lot 16
in Section 4, all being in Township 78 North, Range 26 West of the Fifth Principal Meridian
in the City of Waukee, Dallas County, Iowa; and
Lot 1, Kettlestone Central DWR Plat 1, an Official Plat, now included in and forming a part
of the City of Waukee, Dallas County, Iowa.
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EXHIBIT B
MAP OF KETTLESTONE PHASE 5 COMMERCIAL URBAN RENEWAL AREA
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