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Home My WebLink About2025-12-01 I01H FY2027 TIF Certifications-Part 2AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: December 1, 2025 AGENDA ITEM:Consideration of approval of 2026-2027 Tax Increment Financing (TIF) Indebtedness Certifications to Dallas County Auditor FORMAT:Consent Agenda SYNOPSIS INCLUDING PRO & CON: As required by Iowa Code Section 403.19, TIF Indebtedness Certifications are due to the County Auditor by December 1st annually. City staff has worked with staff from Public Financial Management (PFM) on projecting the annual tax increment revenues for FY2027. After the 11/17/2025 council meeting, staff realized there are two new URA’s that need to have the first Certifications done for the FY27 tax year. Here are the revised valuations, including the estimated revenues for the Kettlestone Residential and Kettlestone Phase 5 Commercial URA’s: FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: A revised Exhibit A is included showing the two additional Urban Renewal Areas to be certified. . Estimated Valuation % Increase/ (Decrease) Estimated TIF Revenue #25021 - Waukee Unified URA 71,945,673$ -20.7%1,847,471$ #25033 - Waukee Consolidated URA 437,465,305$ -0.6%11,233,540$ #25036 - Waukee Autumn Ridge URA 31,184,852$ -5.7%800,786$ #25038 - Waukee Southwest Business Park URA 7,684,405$ 22.3%191,467$ #25045 - North Waukee Residential URA 34,492,162$ -4.4%885,714$ #25052 - Towne Center Commercial URA -$ -$ #25053 - The Quarter Commercial URA -$ -$ #25054 - Waukee Kettlestone Residential URA 13,645,000$ 100%350,386$ #25071 - Waukee Kettlestone Phase 5 Commercial URA 18,634,783$ 100%478,517$ Total All Districts 615,052,180$ -7.4%15,787,881$ FY2027 - All TIF Districts I1H RECOMMENDATION: Approve the motion, directing Finance Director to complete and submit the annual Indebtedness Certification forms to the Dallas County Auditor prior to December 1, 2025 as required. ATTACHMENTS: I. Exhibit A II. City TIF Forms PREPARED BY:Linda Burkhart REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: DATE OF PUBLICATION: F O R M 1 - I N D E B T E D N E SS C E R TIFI C A T ION Cover Sheet C O D E OF I OWA S E CT I O N 403.19 TAX I N C R E M E N T F IN AN CI N G (TIF) I N D E B T E D N E SS C E R T IF IC A T I ON TO C O U N T Y A U D I T O R Due To C o u nty Auditor By D e c e m b e r 1 Prior To The Fiscal Year TIF Increment Tax Is R e q u e s t e d Use One Certification Per Urban Renewal TIF Area TIF Authority (Name of City or County Operating the TIF): W a u k ee County (Where TIF is Located): Dallas Urban Renewal Area Name: W a u k ee Kettlestone Residential Uroan Renewal Area Urban Renewal Area Number: 25054 (Use State five-digit Area Number) | hereby certify to the County Auditor that for the Urban Renewal Area within the City and/or County n am ed above the TIF Authority has outstanding loans, advances, indebtedness, or bonds, none of which have been previously certified, in the collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2 of Section 403.19 of the Code of lowa. Urban Renewal Area Indebtedness Not Previously Certified*: $ 9,729,113.00 *There must be attached a 'FORM 1.1" showing an itemized listing of the dates that individual loans, advances, indebtedness, or bonds were initially approved by the governing body. The County Auditor shall provide the available TIF increment tax in subsequent fiscal years without further certification until the above-stated amount of indebtedness is paid to the TIF Authority. However, for any fiscal year a TIF Authority may elect to receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or before the preceding D e c e m b e r 1. File "F O R M 2' with the County Auditor by the preceding D e c e m b e r 1 for any fiscal year where all of the TIF increment tax is not requested. ATIF Authority reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year of occurrence. File "FORM 3' with the County Auditor when TIF indebtedness has been reduced by any reason other than application of TIF increment tax received from the County Treasurer. Dated this ist day of December , 2025 (515) 978-7919 Signature of Authorized Official Telephone F O R M 1.1 - To be attached to F O R M 1 - I N D E B T E D N E SS C E R TIFI C A T ION Page 1 TIF I N D E B T E D N E SS NOT P R E V I O U S L Y CERTIFIED ELIGIBLE FOR TAX C O LL E C T I O N S NEXT FISCAL Y E A R TIF Authority: Waukee County: Dallas Urban Renewal Area Name: W a u k ee Kettlestone Residential Urban Renewal Area Urban Renewal Area Number: 25054 (Format: XX/XX/20XX) Individual TIF Indebtedness Type/Description: Date Approved9: Total Amount: 1 F Y 2 3 /F Y 2 4 /F Y 2 5 Administrative & Legal Fees 12/1/2025 9,113.00 2 Kettlestone LC Development Agreement 12/1/2025 9,720,000.00 Total TIF Indebtedness NOT Previously Certified: 9,729,113.00 *<Date Approved" is the date that the local governing body initially approved the TIF indebtedness. F O R M 2 S P E C I F I C U R B A N R E N E W A L TIF A R E A T O T A L T AX D O LL A R R E Q U E S T F O R N E X T F I S C A L Y E A R C E R T I F I C A T I O N TO C O U N T Y A U D I T O R Due To County Auditor By D e c ember 1 Prior To The Fiscal Year Where Less Than The Legally Available TIF Increment Tax Is Requested Use One Certification Per Urban Renewal Area TIF Authority: Waukee County: Dallas Urban Renewal Area Name: W a u k ee Kettlestone Residential Urban Renewal Area Urban Renewal Area Number: 25054 | hereby certify to the County Auditor that for the next fiscal year and for the Urban Renewal Area within the City and/or County n am e d above, the TIF Authority requests less than the m a x i m u m legally available TIF increment tax as totaled below. Tax A m o u n t Typically There Would Only Be A Single Entry In 'Tax Amount Requested! Requested: *** Please capture 100% of maximum funding Waukee Kettlestone Residential URA can produce for AY25 (FY27) *** Total TIF Incre ment Tax R eq u es t For This Urban R e n e w a l Area: 0 Dated this ist day of D e c e m b e r , 2025 (515) 978-7919 Signature of Authorized Official Telephone F O R M 3 TIF I N D E B T E D N E SS H AS B EE N R E D U C E D BY R E A S O N O T H E R T H A N A PP L I C A T I O N OF TIF I N C R E M E N T T AX R E C E I V E D F R O M T HE C O U N T Y T R E A S U R E R C E R T I F I C A T I O N TO C O U N T Y A U D I T O R Use One Certification Per Urban Renewal Area TIF Authority: Waukee County: Dallas Urban Renewal Area Name: W a u k ee Kettlestone Residential Urban Renewal! Area Urban Renewal Area Number: 25054 | hereby certify to the County Auditor that for the Urban Renewal Area within the City and/or County named above, the TIF Authority has reduced previously certified indebtedness, by reason other than application of TIF tax received from the County Treasurer, by the total amount as shown below. (Format: XX/XX/20XX) Individual TIF Indebtedness Type/Description/Details: Date Indebtedness Amount R e d u c e d : R e d u c e d : TNO FW OM CO OD Total I nde bte dne ss Reduction For This Urban R e n e w a l Area: 0.00 Dated this ist day of December ; 2025 (515) 978-7919 Signature of Authorized Official Telephone F O R M 1 - I N D E B T E D N E SS C E R T I FICATION Cover Sheet C O D E OF I O W A S E CT I O N 403.19 TAX I N C R E M E N T F I N A N C I N G (TIF) I N D E B T E D N E SS C E R T IF I C A T I ON TO C O U N T Y A U D I T O R Due To County Auditor By D e c ember 1 Prior To The Fiscal Year TIF Increment Tax Is Requested Use One Certification Per Urban Renewal TIF Area TIF Authority (Name of City or County Operating the TIF): W a u k ee County (Where TIF is Located): Dallas Urban Renewal Area Name: W a u k ee Kettlestone Phase 5 Commercial Urban Renewal Area Number: 25071 (Use State five-digit Area Number) | hereby certify to the County Auditor that for the Urban Renewal Area within the City and/or County n am e d above the TIF Authority has outstanding loans, advances, indebtedness, or bonds, none of which have been previously certified, in the collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2 of Section 403.19 of the Code of lowa. Urban Renewal Area Indebtedness Not Previously Certified*: $ 55,014,936.00 *There must be attached a 'FORM 1.1" showing an itemized listing of the dates that individual loans, advances, indebtedness, or bonds were initially approved by the governing body. The County Auditor shall provide the available TIF increment tax in subsequent fiscal years without further certification until the above-stated amount of indebtedness is paid to the TIF Authority. However, for any fiscal year a TIF Authority may elect to receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or before the preceding D e c e m b e r 1. File "F O R M 29 with the County Auditor by the preceding D e c e m b e r 1 for any fiscal year where all of the TIF increment tax is not requested. A TIF Authority reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year of occurrence. File "F O R M 3' with the County Auditor when TIF indebtedness has been reduced by any reason other than application of TIF increment tax received from the County Treasurer. Dated this ist day of D e c e m b e r , 2025 (515) 978-7919 Signature of Authorized Official T e l e p h o n e F O R M 1.1 - To be attached to F O R M 1 - I N D E B T E D N E SS C E R TIFI C A T ION Page 1 TIF I N D E B T E D N E SS NOT P R E V I O U S L Y CERTIFIED ELIGIBLE FOR TAX C O LL E C T I O N S NEXT FISCAL Y E A R TIF Authority: Waukee County: Dallas Urban Renewal Area Name: W a u k ee Keitlestone Phase 5 Commercial Urban Renewal Area Number: 25071 (Format: XX/XX/20XX) Individual TIF Indebtedness Type/Description: Date Approved*: Total Amount: 1 FY23/FY24/FY25 Administrative & Legal Fees 12/1/2025 14,936.00 2 lowa Youth Foundation D eve lop men t A gr ee me nt 12/1/2025 55,000,000.00 Total TIF I nde bte d ne ss N O T Previously Certified: 55,014,936.00 *"Date Approved" is the date that the local governing body initially approved the TIF indebtedness. F O R M 2 S P E C I F I C U R B A N R E N E W A L TIF A R E A T O T A L T AX D O LL A R R E Q U E S T F O R N E X T F I S C A L Y E A R C E R T I F I C A T I O N TO C O U N T Y A U D I T O R Due To County Auditor By D e c ember 1 Prior To The Fiscal Year Where Less Than The Legally Available TIF Increment Tax Is Requested Use One Certification Per Urban Renewal Area TIF Authority: W a u k ee County: Dallas Urban Renewal Area Name: W a u k ee Kettlestone Phase 5 Commercial Urban Renewal Area Number: 25071 1 hereby certify to the County Auditor that for the next fiscal year and for the Urban Renewal Area within the City and/or County named above, the TIF Authority requests less than the m a x i m u m legally available TIF increment tax as totaled below. Tax A m o u nt Typically There Would Only Be A Single Entry In 8Tax Amount Requested9 Requested: ** Please capture 100% of maximum funding Waukee Kettlestone Phase 5 Commercial URA can produce for AY25 (FY27) *** Total TIF Increment Tax R e que s t For This Urban R e n e w a l Area: 0 Dated this ist day of D e c e m b e r ; 2025 (515) 978-7919 Signature of Authorized Official Telephone F O R M 3 TIF I N D E B T E D N E SS H AS B EE N R E D U C E D BY R E A S O N O T H E R T H A N A PP L I C A T I O N OF TIF I N C R E M E N T T AX R E C E I V E D F R O M T HE C O U N T Y T R E A S U R E R C E R T I F I C A T I O N TO C O U N T Y A U D I T O R Use One Certification Per Urban Renewal Area TIF Authority: W a u k ee County: Dallas Urban Renewal Area Name: W a u k ee Ketilestone Phase 5 Commercial Urban Renewal Area Number: 25071 | hereby certify to the County Auditor that for the Urban Renewal Area within the City and/or County named above, the TIF Authority has reduced previously certified indebtedness, by reason other than application of TIF tax received from the County Treasurer, by the total amount as shown below. (Format: XX/XX/20XX) Individual TIF Indebtedness Type/Description/Details: Date Indebtedness Amount R e d u c e d : R e d u c e d : <NOTH ONwDMOlSEANSRTLL rCSS o N - N N N oO N + N Ww N Total I nde bte dne ss Reduction For This Urban R e n e w a l Area: 0.00 Dated this ist day of December , 2025 (515) 978-7919 Signature of Authorized Official Telephone Amount to Certify/Balance Carry Over TIF $ Requested (Decertify)Remaining from Prior Year FY26-27 FY26-27 6/30/2027 6/30/2027 Kettlestone Phase 5 Commercial URA District - $18,634,783 Estimated Valuation Estimated Tax Increment: $ 478,517 Administrative & Legal Fees FY23-FY24-FY25 $14,936 $14,936 Iowa Youth Foundation Development Agreement FY27 $463,581 $55,000,000 $54,536,419 TIF Interest Earnings FY25 $0 Commercial / Industrial Backfill FY26 $0 $0 Total - Kettlestone Phase 5 Commercial URA $478,517 $55,014,936 $54,536,419 $0 Kettlestone Residential URA District - $13,645,000 Estimated Valuation Estimated Tax Increment: $ 350,386 Administrative & Legal Fees FY23-FY24-FY25 $9,113 $9,113 TIF Interest Earnings FY25 $0 Kettlestone LC Development Agreement FY27 $341,273 $9,720,000 $9,378,727 Total - Kettlestone Residential URA $350,386 $9,729,113 $9,378,727 $0 TOTAL - ALL DISTRICTS $828,903 $64,744,049 $63,915,146 $0 Exhibit A