HomeMy WebLinkAbout2003-07-07-Resolutions 03-155_Legacy Pointe - Development Agr - RevisedRESOLUTION 03-155 ITHECITYOFWAUKEE,IOWA
APPROVING REVISED DEVELOPMENT AGREEMENT WITH EWING LAND
DEVELOPMENT &SERVICES,LLC FOR LEGACY POINTE
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,Ewing Land Development &Services,L.L.C.has requested the City of Waukee
enter into a Development Agreement for development on about 74 acres ofproperty;the
development of which will consist of senior housing,senior care and retail facilities;AND,
WHEREAS,Ewing Land Development &Services,L.L.c.has requested the City provide an
economic development assistance package as provided in a resolution adopted November 6,
2000;AND,
WHEREAS,the Ewing Land Development &Services,L.L.C.Development Agreement has
been reviewed,approved by city staff and approved by Council in a four to zero vote on
Resolution 03-135;AND,
WHEREAS,both the City of Waukee and Ewing Land Development &Services,L.L.C.have
revised the Development Agreement;AND,
WHEREAS,said Revised Development Agreement is attached hereto and made a part hereof.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in session this
7th day of July 2003 that it hereby approves the Revised Development Agreement with the Ewing
Land Development &Services,L.L.C.for Legacy Pointe.
Attest:
Mark J.Arentse,ity Administrator/Clerk
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,JI.
Bill Peard
Mike Watts
Darlene Stanton
AYE
X
NAY ABSENT
X IX
X
X
EWING LAND DEVELOPMENT AND SERVICES
DEVELOPMENT AGREEMENT
This Development Agreement (the "Agreement")is entered into between the City of Waukee,Iowa
(The "City")and EWING LAND DEVELOPMENT AND SERVICES (the "Company")as of
June 3,2003
WHEREAS,the Company requests the City enter into a development agreement for
development on certain property more particularly described on Exhibit A hereto,which is located
within the City (The "Property")and within the Waukee Urban Renewal Area,which area is described
in the Urban Renewal Plan and subsequent amendments approved for such area by resolution no.00-
~on the 18,of December 2000 of;and
WHEREAS,the Company will cause development to occur on about seventy-four (74)acres
consisting of senior housing,senior care and retail facilities (the "Project")in accordance with this
Agreement and as set forth in a manner outlined in the land use plan described in Exhibit B hereto;and
WHEREAS,Chapter 403 of the Code ofIowa authorizes cities to establish urban renewal areas
and to undertake economic development projects;and
WHEREAS,Chapter 15A of the Code ofIowa authorizes cities to provide grants,loans,
guarantees,tax incentives and other financial assistance to or for the benefit of private persons;and
WHEREAS,the Company has requested that the City provide an economic development
assistance package from the City through a method of rebating to the Company certain property taxes
generated from the project which will be paid with respect to the Project;and
WHEREAS,the City adopted a resolution in November 6,2000,which established a policy
with respect to the use of economic development incentives such as tax rebate and tax increment
fmancing;and
NOW,THEREFORE,in consideration of the mutual obligations contained in this Agreement,
the parties hereto agree as follows:
1.Agreements by Company,The Company agrees to the following conditions:
a.Company shall have a site plan approved by the Waukee City Council no later September
30,2003.
b.The Company will begin construction of the Project no later October 30,2003,and to
substantially complete construction no later December 31,2006,subject to any delays
beyond the reasonable control ofthe Company.The project is described in greater detail in
Exhibit C.
c.Company agrees to submit receipts of eligible expenses as described in Exhibit D for
certification by the City not to exceed $1,250,000.00
For purposes of Paragraph l(b)and l(c)of this Agreement,if a temporary or permanent
certificate of occupancy has been issued for the Property,it shall be deemed to be substantially
complete.
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2.Tax Rebate by City.In recognition of the Company's commitments set out in Paragraph I,the
City agrees to make semi-annual economic development tax rebate payments to the Company in
each fiscal year during the term of this Agreement,pursuant to Chapters 15A and 403 ofthe Code
ofIowa,in amounts which are equal to sixty-three percent (63%)of the incremental property
taxes paid by the Company provided that no payments shall be made more than fifteen (15)years
after the date of the first payment.
3.Economic Development Grants.The City agrees to use the incremental property taxes from the
Property as follows:
a.Rebate payments equal to sixty-three percent (63%)of the incremental property taxes paid
by the Company shall be made payable to the Company on June I and December I
of each fiscal year.
b.The remaining thirty-seven percent (37%)of the incremental property taxes shall be
retained by the City and used to satisfy the Low to Moderate Income housing assistances
requirement identified in Chapter 403.22 of the Iowa Code.
c.City agrees to certify as eligible expenses the costs associated with the construction of
internal improvements outlined in Exhibit C.
d.The City agrees to rebate incremental property taxes generated from the project not to
exceed $1,250,000.00.
The tax rebate payments shall not constitute general obligations of the City,but shall be payable solely ]
and only from incremental property taxes generated by the Project.The Payments to the Company are
subject to annual approval and appropriation by the City Council.The obligation of the City to make a
Payment to the Company in any year is subject to and conditioned upon the Developer having timely
the semiannual certification and evidence of payment referred to in Section 4 hereinafter and the City
Council's determination that said certification and evidence of payment complies with the requirements
of Section 4 hereof.
4.Conditions.The tax increment rebate payments are subject to the following conditions:
a.Completion of the independent care living facility no later than December 31,2005,and the
townhomes no later than December 31,2006 in accordance with the Company's obligations
hereunder and submission of the Certificate of Completion as set forth in Exhibit D
attached hereto and incorporated herein by this reference.
b.Timely payment of property taxes by the Company when due and submission to the City of
a receipt or canceled check as evidence of each tax payment.
The above-matters set forth in subsection b shall be submitted as part of a semiannual
certification submitted by the Company to the City on June I and November I each year which
shall be in the form attached hereto as Exhibit E incorporated herein by this reference.
Provided that the Company's semiannual certification is made pursuant to this Agreement,the
City shall certify to the County prior to December I of that year its request for the available tax
increments resulting from the assessments imposed by the County as of J anuary I of that year,)
to be collected by the City as taxes paid during the following fiscal year and which shall
thereafter be disbursed to the Company on June 1 and December I of that fiscal year.
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Failure of the company to meet the eligibility requirements for anyone tax rebate payment shall
not subject the Company to any penalty with respect to prior payments and shall not operate in
any manner to restrict the Company's eligibility for future payments.
5.Amendment!Assignment.This Agreement may not be amended or assigned by either party
without the express permission of the other party.However,the City hereby gives its permission
that the Company's rights to receive the economic development tax rebate payments hereunder
may be assigned by the Company to a private lender,as security,without further action on the
part of the City.The City agrees,further,not to unreasonably withhold its permission upon
receipt of a request from the Company for assignment of all or any portion of its rights and
obligations hereunder to any other party,provided that the assignment shall be consistent with the
original purposes of this Agreement to provide for a commercial facility.The City shall either
approve or deny such request within sixty days after receipt of such request by the City
Administrator for the City of Waukee.
6.Binding Effect.This Agreement shall inure to the benefit of and be binding upon the successors
and assigns of the parties.
7.Counternarts.This Agreement may be executed in any number of counterparts,each of which
shall constitute one and the same instrument.
8.Governing Law.This Agreement shall be deemed to be a contract made under the laws of the
State of Iowa and for all purposes shall be governed by and construed in accordance with laws of
the State ofIowa.
9.Entire Agreement.This Agreement and the exhibits attached hereto reflect the entire agreement
between the parties regarding the subject matter hereof,and supersedes and replaces all prior
agreements,negotiations or discussions,whether oral or written.This Agreement may not be
amended except by a subsequent writing signed by all parties hereto.
10.Recording.This Agreement shall be recorded with the Dallas County,Iowa,Recorder.
The City and the Company have caused this Agreement to be signed,and the City's seal to be
affixed,in their names on their behalf by their duly authorized officers,all as of the day and date
written above.
[Signature Page Follows.]
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CITY OF WAUKEE,IOWA ]
Seal
Company's Name
By:_
,CFO Treasurer
STATE OF IOWA )
)ss.
COUNTY OF DALLAS )
On this day of ,2002,before me,the undersigned,a Notary
Public in and for the State ofIowa,personally appeared and ,to
me personally know,and who,being by me duly swom,did say that they are the Mayor and
City Clerk,respectively,of the City of ,Iowa;that the seal affixed to the foregoing
instrument is the corporate seal of the corporation,and that the instrument was signed and I
sealed on behalf of the corporation,by authority of its City Council,as contained in the
Resolution No.adopted by the City Council on the __day of,--~~~~~
2002,and that and acknowledged the execution ofthe
instrument to be their voluntary act and deed and the voluntary act and deed of the corporation,
by it voluntarily executed.
Notary Public in and for the State of
Iowa
I
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EXHIBIT A
Legal Description
EXHIBIT A
Legal Description
A part of the West One-Half of the Northeast Quarter of Section 35 -
Township 79 North -Range 26 West of the 5'"P.M.,City of Waukee,Dallas
County,Iowa more particularly described as follows:
Commencing at the NW corner of said West Yz -NE Y.;thence S 0°03'55"W
60.00 feet along the West line thereof to the South Right-of-Way line of U.S.
Highway 6 (Hickman Road)and the Point of Beginning;thence S 89°45'40"E
724.51 feet along said South R.O.W.line to the West line ofa certain tract of
land described in Deed Book 633 at page 618,Dallas County Records;thence S
0°06'45"W 345.00 feet to the SW corner thereof;thence S 89°45'40"E
600.00 feet to the SE corner thereof and the East line of said West Yz -NE Y.;
thence S 0°06'45"W 2,232.00 feet to the SE comer of said West Yz -NE Y.;
thence N 89°52'42"W 1,322.38 feet to the SW corner thereof;thence N 0°03'
55"E 2,579.73 feet to the Point of Beginning containing 73.58 acres subject to
any and all easements,recorded or non -recorded.
The West line of said West Yz -NE Y.is assumed to bear N 0°03'55"E for
purposes of this description.
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ExhibitB
Land Use Plan
ll:Ii
11)
,.~
I
Preliminary Cost Estimates
Waukee Developmeut
Waukee,Iowa
Phase I
Item Description
Sanitary Sewer
8"Sanitary Sewer
Sanitary Sewer Manholes
Wye Connections
Sewer Service Pipe
EXHIBITC
Unit Quantity Unit Price Price
LF 3,520 32.00 $112,640.00
EA 15 2000.00 $30,000.00
EA 20 100.00 $2,000.00
LF 1,000 25.00 $25,000.00
Subtotal $169,640.00
LF 3,800 25.00 $95,000.00
EA 11 2000.00 $22,000.00
EA 15 500.00 $7,500.00
EA 20 200.00 $4,000.00
LF 1,000 15.00 $15,000.00
Subtotal $143,500.00
LF 3,600 40.00 $144,000.00
EA 25 2,000.00 $50,000.00
LF 2,500 8.00 $20,000.00
CY 15,000 4.00 $60,000.00
SY 14,050 3.00 $42,150.00
SY 8600 28.00 $337,500.00
Subtotal $653.650.00
Total Construction Cost $996,790.00
Contingencies (10%)$96,679.00
Eugineering (15%)$159.500.00
Construction Total $1,222,969.00
Water Main
8"Water Main Pipe
Fire Hydrant Assembly
8"Gate Valves
Service Connections
Water Service
Pipe Storm Sewer &Paving
Storm Sewer Pipe
Storm Sewer Structures
Secondary Storm Sewer
Excavation For Paving
Sub grade Preparation
Concrete Pavement 7"
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NOW,THEREFORE,pursuant to the Agreement,this is to certify that all covenants and
conditions of the Agreement with respect to the obligations of the Company,and its successors
and assigos,relative to construction of the improvements on the Property have been satisfactorily
completed.
]
EXHIBITD
CERTIFICATE OF COMPLETION
WHEREAS,the City of Waukee,Iowa (the "City"and EWING LAND DEVELOPMENT AND
SERVICES (the "Company")did on or about the day of ,2003,make execute
and deliver,each to the other,a Development Agreement (the "Agreement"),wherein and
whereby the Company agreed,in accordance with the terms of the Agreement and the Urban
Renewal Plan (the "Plan"),to develop certain real property owned by the Company and located
within the City and within the City of Waukee Urban Renewal Plan (the "Plan"),to develop
certain real property owned by the Company and located within the City and within the City of
Waukee Urban Renewal Project Area and more particularly described as follows:
(Legal Description)
(THE "Property");and
WHEREAS,the Agreement incorporated and contained certain covenants and restrictions
with respect to the development of the Property,and obligated the Company to construct certain
Minimum Improvements (as defined therein)in accordance with the Agreement;and
WHEREAS,the Company has to the present date performed said covenants and
conditions insofar as they relate to the construction of said Minimum Improvements in a manner
deemed sufficient by the City to permit the execution and recording of this certification.
All other provisions of the Agreement shall otherwise remain in full force and effect until
termioation as provided therein.
(SEAL)CITY OF WAUKEE,IOWA
By:
Mayor
ATTEST:
By:
City Clerk
I
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EXIllBITE
SEMIANNUAL CERTIFICATION
This form must be completed and submitted to the City Clerk of the City of Waukee on May I and
November I of each year that EWlNG LAND DEVELOPMENT AND SERVICES requests financial
incentives as per the Development Agreement dated,_
1.Name ofCompany _
2.Address,Phone _
3.Contact Person _
4.Have you attached copies of your property tax statement marked "paid"?
Return all of the above information to the Waukee City Clerk at 230 Highway 6,Waukee,Iowa,50325
as set out in the Development Agreement.
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