HomeMy WebLinkAbout2019-01-21-J01G PIF Agreement Amendment 1AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 21, 2019
AGENDA ITEM:Consideration of approval of a resolution approving Public Improvement
Fund (PIF) Agreement Amendment No. 1
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: The original Public Improvement Fund (PIF)
agreement between the City of Waukee and Apple Inc. was structured
that payments to the fund would be made as Apple pulled building
permits for data center buildings. The payments would be made to the
PIF in the January after the building permits were issued for data center
buildings. For example if a building permit for a data center building
was issued in 2019 a payment to the PIF would be made in January 2020.
Over the last several months, we have been working with Apple to
amend the PIF agreement so that the first PIF payment of $500,000
would be made in the January following the issuance of grading approval
for all or part of the development property. The grading approval was
granted in late 2018 so Apple has agreed to make the first PIF payment
of $500,000 in January 2019. It is anticipated that Apple will be issued a
building permit for a data center building in 2019 that would trigger
another PIF payment in January 2020 and each January thereafter until
the maximum PIF payments per data center building reaches
$10,000,000. The $500,000 payment being made in January 2019 would
count against the maximum of $10,000,000 for the first data center
building. If for some reason no data center building permits are issued in
2019 then no additional PIF payments would be made until should time
as a building permit is issued and the PIF payments would follow the
schedule in the PIF agreement. Other than this one change, the PIF
agreement will remain unchanged.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
II. Amended Public Improvement Agreement and Fund
PREPARED BY:Dan Dutcher
J1G
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
THE CITY OF WAUKEE, IOWA
RESOLUTION 19-
APPROVING PUBLIC IMPROVEMENT FUND (PIF) AGREEMENT
AMENDMENT NO. 1 [PROJECT MORGAN]
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, on August 24, 2017, the Waukee City Council approved a Public Improvement
Agreement and Fund (“PIF Agreement”) by and between the City of Waukee and the developer of
Project Morgan (Resolution #17-411); AND,
WHEREAS, pursuant to the terms of the PIF Agreement, the Developer agrees to contribute $500,000
per Data Center Building constructed on the Development Property each year until certain maximum
contributions to the Public Improvement Fund are made, and the City agrees to utilize the Fund to
advance the completion of improvements for the benefit of the community as set forth in the PIF
Agreement; AND,
WHEREAS, Amendment No. 1 to the PIF Agreement is proposed so that the first payment of
$500,000 will be made January 2019 following the issuance of grading approval for all or part of the
development property; AND,
WHEREAS, the City Attorney and Developer have reviewed the agreement amendment and agree to
its terms.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council that it hereby
approves the Public Improvement Fund Agreement Amendment No. 1 [Project Morgan].
Passed by the City Council of the City of Waukee, Iowa, and approved the 21st day of January, 2019.
____________________________
William F. Peard, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman
R. Charles Bottenberg
Courtney Clarke
Shelly Hughes
Larry R. Lyon