HomeMy WebLinkAbout2020-07-20-I01X The Quarter at Waukee Amended Development Agreement_Set PH AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: July 20, 2020
AGENDA ITEM: Consideration of approval of a resolution fixing date for a public hearing
on the proposal to enter into an Amended and Restated Agreement for
Private Development with The Quarter at Waukee, LLC, and Waukee
Prairie Apartments, LLC
FORMAT: Consent Agenda
SYNOPSIS INCLUDING PRO & CON: The City entered into a development agreement with
Midtown Waukee Holdings, LLC in November 2019 related to a
development project proposed to be constructed at the intersection of
Grand Prairie Parkway and SE Ashworth Road. City staff is
recommending a public hearing be set for August 3, 2020 to discuss a
proposed amendment to the agreement including an assignment of the
agreement to The Quarter at Waukee, LLC and Waukee Prairie
Apartments, LLC.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution setting the date of public hearing.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY: Brad Deets, Development Services Director
REVIEWED BY:
I1X
RESOLUTION NO. ______
RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON
THE PROPOSAL TO ENTER INTO AN AMENDED AND
RESTATED AGREEMENT FOR PRIVATE DEVELOPMENT
WITH THE QUARTER AT WAUKEE, L.L.C. AND WAUKEE
PRAIRIE APARTMENTS LLC, AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, this Council previously 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 by
Resolution No. 13-257 approved and adopted the Gateway Economic Development Urban
Renewal Plan for the Gateway Economic Development Urban Renewal Area described therein,
which Plan was subsequently amended several times; and
WHEREAS, this Council has consolidated the Gateway Economic Development Urban
Renewal Area, along with other urban renewal areas, into the Waukee Consolidated Urban
Renewal Area ("Urban Renewal Area" or "Area") by adoption of Amendment No. 1 to the Waukee
Consolidated Urban Renewal Plan ("Urban Renewal Plan" or "Plan") by Resolution No. 19-402
on November 4, 2019, which Plan has subsequently been amended and is on file in the office of
the Recorder of Dallas County; 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 of Waukee, Iowa ("City") and Midtown Waukee Holdings, LLC
("Original Developer") entered into an Agreement for Private Development on November 4, 2019
("Original Agreement"), pursuant to which the Original Developer was to cause certain Minimum
Improvements to be constructed in connection with the redevelopment of certain real property
located within the Urban Renewal Area ("Development Property"); and
WHEREAS, the Original Agreement included a Minimum Assessment Agreement
between the City and Original Developer also dated November 4, 2019 ("Original Minimum
Assessment Agreement"); and
WHEREAS, the Development Property was subsequently transferred to The Quarter at
Waukee, L.L.C. ("Developer"); and
WHEREAS, the City has received a proposal from the Developer, in the form of a proposed
Amended and Restated Agreement for Private Development (the "Agreement") by and between
the City, the Developer, and Waukee Prairie Apartments, LLC (the "Additional Property Owner"),
to amend and restate the terms of the Original Agreement and Original Minimum Assessment
Agreement to reflect changes to: (i) the parties, (ii) the descriptions of the Development Property
and Minimum Improvements, and (iii) the terms for construction, assessed value and operation of
the Minimum Improvements on the Development Property; and
WHEREAS, the City, Developer, and Additional Property Owner will enter into a
minimum assessment agreement replacing the Original Minimum Assessment Agreement to set
minimum assessed values on the 18 commercial buildings and the surface parking lot to be
included in the Minimum Improvements, as set forth in the Agreement; and
WHEREAS, pursuant to the terms of the Agreement, the City would make payments of
Economic Development Grants to Developer, with the amounts of the payments to be calculated
based on the Tax Increment generated by the various buildings included in the Minimum
Improvements and collected by the City under Iowa Code Section 403.19, under the formulas and
schedules for the various buildings set forth in the Agreement and subject to the terms and
conditions of the Agreement, with the cumulative maximum amount of all Economic Development
Grants under the Agreement not to exceed $32,371,485; 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 which begins at 5:30 P.M. on August 3, 2020, for the
purpose of taking action on the matter of the proposal to enter into an Amended and Restated
Agreement for Private Development with The Quarter at Waukee, L.L.C. and Waukee Prairie
Apartments LLC.
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 AN
AMENDED AND RESTATED AGREEMENT FOR PRIVATE
DEVELOPMENT WITH THE QUARTER AT WAUKEE, L.L.C.
AND WAUKEE PRAIRIE APARTMENTS LLC, 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 at its meeting on August 3, 2020, at 5:30 P.M., at which meeting
the Council proposes to take action on the proposal to enter into an Amended and Restated
Agreement for Private Development (the "Agreement") with The Quarter at Waukee, L.L.C. (the
"Developer") and Waukee Prairie Apartments LLC ("Additional Property Owner").
Due to public health concerns related to COVID-19, this meeting will be held electronically
pursuant to Iowa Code Sections 21.4(1)(b) and 21.8 as holding the meeting in person is impossible
or impractical. The public may access the meeting electronically via Zoom, using the following
access information:
https://zoom.us/j/352651371
Meeting ID: 352-651-371
Or by phone:
+1 646-558-8656 or
+1 312-626-6799 or
+1 301-715-8592
Please check the posted agenda in advance of the August 3, 2020 meeting for any updates
to the manner in which the public may access the hearing.
The City and Midtown Waukee Holdings, LLC previously entered into an Agreement for
Private Development dated November 4, 2019 (the "2019 Agreement") for the development of
certain Minimum Improvements on certain real property within the Waukee Consolidated Urban
Renewal Area (the "Development Property"). The proposed Agreement would amend and restate
the terms of the 2019 Agreement.
Pursuant to the terms of the proposed Agreement, the Developer would agree to cause the
construction of 18 commercial structures and a surface parking lot as the Minimum Improvements
on the Development Property and certain additional property owned by the Additional Property
Owner. Furthermore, the parties would agree to a minimum assessment agreement, replacing the
minimum assessment agreement that was executed in connection with the 2019 Agreement, which
would set minimum assessed values on the buildings included in the Minimum Improvements.
The Agreement would obligate the City to make payments of Economic Development
Grants to Developer, with the amounts of the payments to be calculated based on the Tax
Increment generated by the various buildings included in the Minimum Improvements and
collected by the City under Iowa Code Section 403.19, under the formulas and schedules for the
various buildings set forth in the Agreement and subject to the terms and conditions of the
Agreement, with the cumulative maximum amount of all Economic Development Grants under
the Agreement not to exceed $32,371,485.
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 and
Additional Property Owner. 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.
Please contact the City Clerkâs office at (515) 978-7904 or bschuett@waukee.org if you
have questions about the electronic format of the meeting or electronic accessibility issues. To
receive a copy of the Agreement for inspection, please email the Development Services Director
at bdeets@waukee.org or call (515) 978-7899.
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 July, 2020.
Rebecca D. Schuett
City Clerk, City of Waukee in the State of Iowa
(End of Notice)
PASSED AND APPROVED this 20th day of July, 2020.
Mayor
ATTEST:
City Clerk