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HomeMy WebLinkAbout2021-01-18-I02B Bond_GO ECP UR_Set PHAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: January 18, 2021 AGENDA ITEM:Consideration of approval of a resolution fixing date for a meeting on the proposition to issue Not to Exceed $35,000,000 General Obligation Urban Renewal Bonds (For Essential Corporate Urban Renewal Purposes) FORMAT:Consent Agenda SYNOPSIS INCLUDING PRO & CON: The proposed General Obligation Bonds will be used to provide funds to pay the costs of aiding in the planning, undertaking and carrying out of urban renewal projects under the authority of Iowa Code chapter 403 and the Urban Renewal Plans for the Waukee Unified Urban Renewal Area, as amended, the Waukee Consolidated Urban Renewal Area, as amended, and the North Waukee Residential Urban Renewal Area, including opening, widening, extending, grading, and draining of the right-of-way of streets, highways, avenues, alleys and public grounds, and market places, and the removal and replacement of dead or diseased trees thereon; the construction, reconstruction, and repairing of any street improvements, bridges, grade crossing separations and approaches; the acquisition, installation, and repair of sidewalks, culverts, retaining walls, storm sewers, sanitary sewers, water service lines, street lighting, and traffic control devices and signage; and the acquisition of any real estate needed for any of the foregoing purposes. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: Not to exceed $35,000,000 COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: RECOMMENDATION: Approve the resolution setting the public hearing date for February 1, 2021. ATTACHMENTS: I. Proposed Resolution PREPARED BY:Becky Schuett REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: DATE OF PUBLICATION: I2B RESOLUTION 2021- RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSITION OF THE ISSUANCE OF NOT TO EXCEED $35,000,000 GENERAL OBLIGATION URBAN RENEWAL BONDS OF THE CITY OF WAUKEE, STATE OF IOWA (FOR ESSENTIAL CORPORATE URBAN RENEWAL PURPOSES), AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF 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 Plan Area (the "Waukee Urban Renewal Area"); which included an area known as the Hickman West Urban Renewal area and which Waukee Urban Renewal Area was subsequently amended several times, including the addition of land to subareas of the Waukee Urban Renewal Area; and WHEREAS, by Resolution No. 197, adopted June 15, 1992, 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 Southwest Urban Renewal Plan for the Waukee Southwest Urban Renewal Plan Area (the "Waukee Southwest Urban Renewal Area"); and WHEREAS, by Resolution No. 335, adopted March 20, 1995, 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 Enterprise Business Park Urban Renewal Plan for the Enterprise Business Park Urban Renewal Plan Area (the "Enterprise Business Park Urban Renewal Area"); and WHEREAS, by Resolution No. 04-272, adopted December 20, 2004, this Council approved and adopted an Amendment to Consolidate the Hickman West Urban Renewal Area, Enterprise Business Park Urban Renewal Area, and the Waukee Urban Renewal Area and add property; and WHEREAS, by Resolution No. 11-80, adopted May 23, 2011, this City Council approved and adopted an Amendment No. 1 to the Waukee Unified Urban Renewal Plan ("Plan" or "Urban Renewal Plan") which unified the City’s existing urban renewal areas, as described above, into the Waukee Unified Urban Renewal Area ("Area" or "Urban Renewal Area"), a single unified urban renewal area, which Plan has subsequently been amended several times, most recently by Amendment No. 10 to the Plan in 2020; and WHEREAS, by Resolution No. 19-402 adopted November 4, 2019, the City of Waukee, Iowa (the “City”) adopted Amendment No. 1 to the Waukee Consolidated Urban Renewal Plan (“Plan” or “Urban Renewal Plan”) in order to consolidate the City’s previously established Gateway Economic Development Urban Renewal Area, Waukee West Urban Renewal Area, and Waukee Central Urban Renewal Area into the Waukee Consolidated Urban Renewal Area (“Area” or “Urban Renewal Area”), and subsequent amendment on the same on January 6, 2020, pursuant to Resolution No. 2020-001; and WHEREAS, by Resolution No. 2020-429, adopted November 16, 2020, 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 North Waukee Residential Urban Renewal Plan (the "Plan") for the North Waukee Residential Urban Renewal Plan Area (the "Area" or "Urban Renewal Area"), which Plan is on file in the office of the Recorder of Dallas County, Iowa; and WHEREAS, it is deemed necessary and advisable that the City of Waukee, State of Iowa, should issue General Obligation Urban Renewal Bonds, to the amount of not to exceed $35,000,000, as authorized by Sections 384.25 and 403.12, of the Code of Iowa, for the purpose of providing funds to pay costs of carrying out essential corporate urban renewal purpose project(s) as hereinafter described; and WHEREAS, before bonds may be issued, it is necessary to comply with the procedural requirements of Chapters 384 and 403 of the Code of Iowa, and to publish a notice of the proposal to issue such bonds and the right to petition for an election. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF WAUKEE, 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 the 1st day of February, 2021, for the purpose of taking action on the matter of the issuance of not to exceed $35,000,000 General Obligation Urban Renewal Bonds, for essential corporate urban renewal purposes, the proceeds of which bonds will be used to provide funds to pay the costs of aiding in the planning, undertaking and carrying out of urban renewal projects under the authority of Iowa Code chapter 403 and the Urban Renewal Plans for the Waukee Unified Urban Renewal Area, as amended, the Waukee Consolidated Urban Renewal Area, as amended, and the North Waukee Residential Urban Renewal Area, including opening, widening, extending, grading, and draining of the right-of- way of streets, highways, avenues, alleys and public grounds, and market places, and the removal and replacement of dead or diseased trees thereon; the construction, reconstruction, and repairing of any street improvements, bridges, grade crossing separations and approaches; the acquisition, installation, and repair of sidewalks, culverts, retaining walls, storm sewers, sanitary sewers, water service lines, street lighting, and traffic control devices and signage; and the acquisition of any real estate needed for any of the foregoing purposes. Section 2.To the extent any of the projects or activities described in this resolution may be reasonably construed to be included in more than one classification under Division III of Chapter 384 of the Code of Iowa, the Council hereby elects the "essential corporate purpose" classification and procedure with respect to each such project or activity, pursuant to Section 384.28 of the Code of Iowa. Section 3.That the Clerk is hereby directed to cause at least one publication to be made of a notice of the meeting, in a legal newspaper, printed wholly in the English language, published at least once weekly, and having general circulation in the City. The publication to be not less than ten clear days nor more than twenty days before the date of the public meeting on the issuance of the Bonds. Section 4.The notice of the proposed action to issue bonds shall be in substantially the following form: (To be published on or before: January 20, 2021) NOTICE OF MEETING OF THE CITY COUNCIL OF THE CITY OF WAUKEE, STATE OF IOWA, ON THE MATTER OF THE PROPOSED ISSUANCE OF NOT TO EXCEED $35,000,000 GENERAL OBLIGATION URBAN RENEWAL BONDS OF THE CITY (FOR ESSENTIAL CORPORATE URBAN RENEWAL PURPOSES), AND THE HEARING ON THE ISSUANCE THEREOF PUBLIC NOTICE is hereby given that the City Council of the City of Waukee, State of Iowa, will hold a public hearing on the 1st day of February, 2021, at 5:30 P.M., in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa. Due to public health concerns related to COVID-19, as authorized by emergency proclamation of the Governor of the State of Iowa, this meeting will be held electronically. Citizens may access the meeting by internet via the following link: https://zoom.us/j/352651371 (Meeting ID: 352-651-371), or telephonically via the following numbers: +1 646-558-8656 or +1 312-626-6799 or +1 301-715-8592 (Meeting ID: 352-651-371). Please check the posted agenda in advance of the October 19, 2020 meeting for any updates to the manner in which the public may access the hearing. At this meeting the Council proposes to take additional action for the issuance of not to exceed $35,000,000 General Obligation Urban Renewal Bonds, for essential corporate urban renewal purposes, to provide funds to pay the costs of aiding in the planning, undertaking and carrying out of urban renewal projects under the authority of Iowa Code chapter 403 and the Urban Renewal Plans for the Waukee Unified Urban Renewal Area, as amended, the Waukee Consolidated Urban Renewal Area, as amended, and the North Waukee Residential Urban Renewal Area, including opening, widening, extending, grading, and draining of the right-of- way of streets, highways, avenues, alleys and public grounds, and market places, and the removal and replacement of dead or diseased trees thereon; the construction, reconstruction, and repairing of any street improvements, bridges, grade crossing separations and approaches; the acquisition, installation, and repair of sidewalks, culverts, retaining walls, storm sewers, sanitary sewers, water service lines, street lighting, and traffic control devices and signage; and the acquisition of any real estate needed for any of the foregoing purposes. At any time before the date of the meeting, a petition, asking that the question of issuing such Bonds be submitted to the legal voters of the City, may be filed with the Clerk of the City, including the drop box at City Hall during non-business hours, in the manner provided by Section 362.4 of the Code of Iowa, pursuant to the provisions of Sections 384.24(3)(q), 384.25 and 403.12 of the Code of Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of the City to the above action. After all objections have been received and considered, the Council will at the meeting or at any adjournment thereof, take additional action for the issuance of the Bonds or will abandon the proposal to issue said Bonds. This notice is given by order of the City Council of the City of Waukee, State of Iowa, as provided by Chapters 384 and 403 of the Code of Iowa. Dated this 18th day of January, 2021. Rebecca D. Schuett City Clerk, City of Waukee, State of Iowa (End of Notice) PASSED AND APPROVED this 18th day of January, 2021. Mayor ATTEST: City Clerk