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HomeMy WebLinkAbout2025-10-20 Resolution 2025-412_Set Public Hearing Date, Development Agreement, Kettlestone Lakes LLC, AP GPP LCRESOLUTION NO. 2025-412 RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH KETTLESTONE LAKES, LLC AND AP GPP, L.C., AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, this Council proposes to consider, on November 3, 2025, whether certain areas located within the City are eligible and should be designated as an urban renewal area under Iowa law, as further described in the proposed urban renewal plan for the proposed urban renewal area, Kettlestone Lakes District One Urban Renewal Plan (the "Urban Renewal Plan" or "Plan") for the Kettlestone Lakes District One Urban Renewal Area (the "Urban Renewal Area" or "Area") described therein; and WHEREAS, it is desirable that properties within the Area be redeveloped as part of the overall redevelopment area covered by said Plan; and WHEREAS, the City has received a proposal from Kettlestone Lakes, LLC (the "Kettlestone Developer") and AP GPP, L.C. (the "AP Developer"), collectively the Kettlestone Developer and AP Developer shall be referred to as "Developers", in the form of a proposed Development Agreement (the "Agreement") concerning the development of certain real property located within the Urban Renewal Area; and WHEREAS, JJ & KJ Properties, LLC ("Property Owner") owns certain real property located in the Urban Renewal referred to as the "JJ Property", Kettlestone Developer owns certain real property located in the Urban Renewal referred to as the "Kettlestone Development Property", and AP Developer owns certain real property referred to as the "AP Development Property"; and WHEREAS, the JJ Property, the Kettlestone Development Property, and the AP Development collectively are referred to as the "Development Property" (as defined and legally described in the Agreement); and WHEREAS, pursuant to the Agreement, among other things, the Developers would agree to construct certain Kettlestone Minimum Improvements, AP Minimum Improvements, and Infrastructure Improvements on the Development Property (as those terms are defined in the Agreement), and otherwise prepare the Development Property for the construction of private commercial development and related improvements thereon; and WHEREAS, the Agreement requires Developers to use commercially reasonable efforts to attract commercial businesses employing individuals in their operations to locate their business operations within the Kettlestone Minimum Improvements and the AP Minimum Improvements; and WHEREAS, the Agreement further proposes that the City will make up to twelve (12) consecutive annual payments of Kettlestone Economic Development Grants to Kettlestone Developer consisting of 50% of the Kettlestone Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the Kettlestone Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $7,850,000, the amount Kettlestone Developer contributes to the Infrastructure Improvements, or the amount accrued under the formula outlined in the proposed Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement; and WHEREAS, the Agreement further proposes that the City will make up to twelve (12) consecutive annual payments of AP Economic Development Grants to Developer consisting of 50% of the AP Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the AP Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $2,150,000, the amount AP Developer contributes to the Infrastructure Improvements, or the amount accrued under the formula outlined in the proposed Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement; and WHEREAS, Chapters 15A and 403, Code of Iowa, (the "Urban Renewal Law") 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 Chapter, and to levy taxes and assessments for such purposes; and WHEREAS, the Council has determined that the Agreement 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 Plan and the Urban Renewal Law and, further, that the Agreement 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; and WHEREAS, neither the Urban Renewal Law nor any other Code provision sets forth any procedural action required to be taken before said economic development activities can occur under the Agreement, and pursuant to Section 364.6,Code of Iowa, it is deemed sufficient if the action hereinafter described be taken and the City Clerk publish notice of the proposal and of the time and place of the meeting at which the Council proposes to take action thereon and to receive oral and/or written objections from any resident or property owner of said City to such action. NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA: Section 1. That this Council meet in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at 5:30 P.M. on November 3, 2025, for the purpose of taking action on the matter of the proposal to enter into a Development Agreement with Kettlestone Lakes, LLC and AP GPP, L.C. Section 2. That the City Clerk is hereby directed to cause at least one publication to be made of a notice of said meeting, in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in said City, said publication to be not less than four (4) clear days nor more than twenty (20) days before the date of said public meeting. Section 3. The notice of the proposed action shall be in substantially the following form: (One publication required) NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF WAUKEE IN THE STATE OF IOWA, ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH KETTLESTONE LAKES, LLC AND AP GPP, L.C., AND THE HEARING THEREON PUBLIC NOTICE is hereby given that the Council of the City of Waukee in the State of Iowa, will hold a public hearing on November 3, 2025, at 5:30 P.M. in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at which meeting the Council proposes to take action on the proposal to enter into a Development Agreement (the "Agreement") with Kettlestone Lakes, LLC (the "Kettlestone Developer") and AP GPP, L.C. (the "AP Developer"), collectively the "Developers". The Agreement would obligate the Developers to construct certain Kettlestone Minimum Improvements, AP Minimum Improvements, and Infrastructure Improvements (as those terms are defined in the Agreement) on certain real property located within the Kettlestone Lakes District One Urban Renewal Area as defined and legally described in the Agreement, consisting of the construction of Kettlestone Minimum Improvements, the AP Minimum Improvements, and the Infrastructure Improvements, together with all related site improvements, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement requires Developers to use commercially reasonable efforts to attract commercial businesses employing individuals in their operations to locate their business operations within the Kettlestone Minimum Improvements and the AP Minimum Improvements. The Agreement would further obligate the City to make up to twelve (12) consecutive annual payments of Kettlestone Economic Development Grants to Kettlestone Developer consisting of 50% of the Kettlestone Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the Kettlestone Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $7,850,000, the amount Kettlestone Developer contributes to the Infrastructure Improvements, or the amount accrued under the formula outlined in the proposed Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement also obligates the City to make up to twelve (12) consecutive annual payments of AP Economic Development Grants to Developer consisting of 50% of the AP Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the AP Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of $2,150,000, the amount AP Developer contributes to the Infrastructure Improvements, or the amount accrued under the formula outlined in the proposed Agreement, under the terms and following satisfaction of the conditions set forth in the Agreement. A copy of the Agreement is on file for public inspection during regular business hours in the office of the City Clerk, City Hall, City of Waukee, Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of said City, to the proposal to enter into the Agreement with the Developer. After all objections have been received and considered, the Council will at this meeting or at any adjournment thereof, take additional action on the proposal or will abandon the proposal to authorize said Agreement. This notice is given by order of the City Council of the City of Waukee in the State of Iowa, as provided by Section 364.6, Code of Iowa. Dated this 20th day of October, 2025. Rebecca D. Schuett City Clerk, City of Waukee in the State of Iowa (End of Notice) PASSED AND APPROVED this 20`" day of October, 2025. ATTEST: City Clerk RESULTS OF VOTE: R. Charles Bottenberg Chris Crone Rob Grove Anna Bergman Pierce Ben Sinclair Mayor AYE NAY ABSENT ABSTAIN X X X X X