HomeMy WebLinkAbout2012-03-19-Resolutions 12-51_Alices LC-TEAM Des Moines Partners - Development Agr - RestatedRESOLUTION NO.12-51
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A RESTATED AGREEMENT BY AND
BETWEEN THE CITY OF WAUKEE,ALICES,L.C.AND TEAM
DES MOINES PARTNERS,LLC
WHEREAS,by Resolution No.93,adopted December 13,1988,this Council
found and determined that certain areas located within the City are eligible and should be
designated as an urban renewal area under Iowa law,and approved and adopted the
Waukee Urban Renewal Plan for the Waukee Urban Renewal Area.The Waukee Urban
Renewal Area was amended numerous times and is currently known as the Waukee
Unified Urban Renewal Area (the "Waukee Urban Renewal Area"),by Resolution No.
11-80,dated May 23,2011,and further amended by Amendment No.2 to the Waukee
Unified Urban Renewal Area by Resolution No.11-224 on December 5,2011;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 previously entered into various prior development
agreements among the City,Alices,L.c.(or its predecessor(s))(the "Developer"),and
Team Des Moines Partners,LLC (or its predecessor(s))("Team")(i)providing benefits
to Developer in the form of tax rebate Economic Development Grants to reimburse the
Developer for costs of certain infrastructure required to promote development on the
Development Property and (ii)providing benefits to Team in the form of tax rebate
Economic Development Grants for the construction of commercial buildings in a phased
development,all relating to property that is within the Waukee Unified Urban Renewal
Area;generally known as The Crossings development;and
WHEREAS,the City is willing to extend the amount of time for Team to construct
the commercial buildings in Phase II (former Phase III is now combined into Phase II)in
order to receive tax increment payments in the form of Economic Development Grants on
such buildings under certain conditions;and the City is willing to extend the amount of
time for Alices,L.c.to construct the Public Improvements within the Development
Property and extend the time to receive tax increment payments on future commercial
construction;and
WHEREAS,Team and Developer have proposed an Amended and Restated
Development Agreement among the City of Waukee,Alices,L.C.and Team Des Moines
Partners,LLC ("Restated Agreement")to document the parties'obligations and benefits,
which Restated Agreement continues to limit the maximum Economic Development
Grants to either Developer or Team to (i)no more than $3.3 Million in aggregate
Economic Development Grants for reimbursement of Developer's eligible infrastructure
costs;(ii)clarifies the division of potential Economic Development Grants between
Developer and Team;(iii)provides that no such payments shall be made from Tax
Increments after fiscal year 2020-2021;and (iv)provides that all payments are subject to
the terms and following satisfaction of the conditions set forth in the Restated
Agreement;
WHEREAS,Iowa Code Chapters l5A and 403 authorize cities to make loans and
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 Chapters,and to levy taxes and assessments for such
purposes;and
WHEREAS,the Council has determined that the Restated 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 ofthe Plan
and the Urban Renewal Law and,further,that the Restated 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 l5A and 403 of the Iowa Code
taking into account any or all of the factors set forth in Chapter l5A,to wit:
a.Businesses that add diversity to or generate new opportunities for the Iowa
economy should be favored over those that do not.
b.Development policies in the dispensing of the funds should attract,retain,
or expand businesses that produce exports or import substitutes or which generate
tourism-related activities.
c.Development policies in the dispensing or use of the funds should be
targeted toward businesses that generate public gains and benefits,which gains and
benefits are wan-anted in comparison to the amount of the funds dispensed.
d.Development policies in dispensing the funds should not be used to attract a
business presently located within the state to relocate to another portion of the state
unless the business is considering in good faith to relocate outside the state or unless the
relocation is related to an expansion which will generate significant new job creation.
Jobs created as a result of other jobs in similar Iowa businesses being displaced shall not
be considered direct jobs for the purpose of dispensing funds;and
WHEREAS,pursuant to notice published as required by law,this Council has held
a public meeting and hearing upon the proposal to approve and authorize execution of the
Restated Agreement and has considered the extent of objections received from residents
or property owners as to said proposed Restated Agreement;and,accordingly the
following action is now considered to be in the best interests of the City and residents
thereof.
NOW THEREFORE,BE IT RESOLVED,BY THE CITY COUNCIL OF THE
CITY OF WAUKEE IN THE STATE OF IOWA:
Section 1.That the performance by the City of its obligations under the Restated
Agreement,including but not limited to making of loans and grants to the Developer in
connection with the development of the Development Property under the terms set forth
in the Restated Agreement,be and is hereby declared to be a public undertaking and
purpose and in furtherance of the Plan and the Urban Renewal Law and,further,that the
Restated 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 of the Iowa Code,taking into account the factors set
forth therein.
Section 2.That the form and content of the Restated Agreement,the provisions of
which are incorporated herein by reference,be and the same hereby are in all respects
authorized,approved and confirmed,and the Mayor and the City Clerk be and they
hereby are authorized,empowered and directed to execute,attest,seal and deliver the
Restated Agreement for and on behalf of the City in substantially the form and content
now before this meeting,but with such changes,modifications,additions or deletions
therein as shall be approved by such officers,and that from and after the execution and
delivery of the Restated Agreement,the Mayor and the City Clerk are hereby authorized,
empowered and directed to do all such acts and things and to execute all such documents
as may be necessary to carry out and comply with the provisions of the Restated
Agreement as executed.
PASSED AND APPROVED this 19th day of March,2012.
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
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NAY
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ABSENT ABSTAIN