HomeMy WebLinkAbout2019-04-15-J01zFF Kettleview LLC Dev Agr_Set PHAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: April 15, 2019
AGENDA ITEM:Consideration of approval of a resolution fixing date for a public hearing
on the proposal to enter into a Development Agreement with Kettleview,
LLC, and providing for publication of notice thereof
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: Development Agreement between the City and
Kettleview, LLC, to provide incentives for development and
infrastructure improvements.
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:Dan Dutcher
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
J1FF
RESOLUTION NO. ____________________
RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON
THE PROPOSAL TO ENTER INTO A DEVELOPMENT
AGREEMENT WITH KETTLEVIEW, L.L.C., AND
PROVIDING FOR PUBLICATION OF NOTICE THEREOF
WHEREAS, by Resolution No. 13-257, adopted October 21, 2013, 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 Urban Renewal Plan (the
"Plan") for the Gateway Urban Renewal Area (the "Urban Renewal Area" or "Area") described
therein, which Plan as amended, 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 has received a proposal from Kettleview, L.L.C. (the "Developer"),
in the form of a proposed Development Agreement (the "Agreement") by and between the City
and the Developer, pursuant to which, among other things, the Developer would agree to
construct certain Minimum Improvements (as defined in the Agreement) on certain real property
located within the Gateway Urban Renewal Area as defined and legally described in the
Agreement and consisting of the construction of multiple commercial buildings, one of which
includes event space, together with all related site improvements, including an internal roadway,
and a fountain in an adjacent City-owned pond, as outlined in the proposed Development
Agreement; and
WHEREAS, the Agreement further proposes that the City will make up to five (5)
consecutive annual payments of Economic Development Grants to Developer consisting of 90%
of the Tax Increments pursuant to Iowa Code Section 403.19 and generated by the construction
of the Minimum Improvements, the cumulative total for all such payments not to exceed the
lesser of $5,300,000, or the amount accrued under the formula outlined in the proposed
Development Agreement, under the terms and following satisfaction of the conditions set forth in
the Agreement; and
WHEREAS, the Agreement also proposes that Developer and the City will enter into a
Minimum Assessment Agreement with the County setting the minimum actual value of the
Minimum Improvements for tax purposes at not less than $51,300,000; and
WHEREAS, the Agreement further proposes that the City will construct certain Public
Improvements in support of the Project, as defined in the Agreement; and
WHEREAS, Iowa Code Chapters 15A and 403 (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 of the Iowa Code, 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 of the City 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, IOWA:
Section 1.That this Council meet in the Council Chambers, City Hall, 230 W. Hickman
Road, Waukee, Iowa, at 5:30 P.M. on May 6, 2019, for the purpose of taking action on the
matter of the proposal to enter into a Development Agreement with Kettleview, L.L.C.
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, IOWA, ON THE MATTER OF THE
PROPOSAL TO ENTER INTO A DEVELOPMENT
AGREEMENT WITH KETTLEVIEW, L.L.C., AND THE
HEARING THEREON
PUBLIC NOTICE is hereby given that the City Council of the City of Waukee, Iowa,
will hold a public hearing on May 6, 2019, at 5:30 P.M. in the Council Chambers, City Hall, 230
W. Hickman Road, Waukee, Iowa, at which meeting the City Council proposes to take action on
the proposal to enter into a Development Agreement (the "Agreement") with Kettleview, L.L.C.
(the "Developer").
The Agreement would obligate the Developer to construct certain Minimum
Improvements (as defined in the Agreement) on certain real property located within the Gateway
Urban Renewal Area as defined and legally described in the Development Agreement, consisting
of the construction of multiple commercial buildings, one of which includes event space,
together with all related site improvements, including an internal roadway, and a fountain in an
adjacent City-owned pond, under the terms and following satisfaction of the conditions set forth
in the Agreement. One of the obligations of Developer relates to employment retention and/or
creation.
The Agreement would further obligate the City to make up to five (5) consecutive annual
payments of Economic Development Grants to Developer consisting of 90% of the Tax
Increments pursuant to the Iowa Code Section 403.19 and generated by the construction of the
Minimum Improvements, the cumulative total for all such payments not to exceed the lesser of
$5,300,000, or the amount accrued under the formula outlined in the proposed Development
Agreement, under the terms and following satisfaction of the conditions set forth in the
Agreement.
The Agreement also proposes that Developer and the City will enter into a Minimum
Assessment Agreement with the County setting the minimum actual value of the Minimum
Improvements for tax purposes at not less than $51,3000,000.
A copy of the Agreement is on file for public inspection during regular business hours in
the office of the City Clerk, City Hall, Waukee, Iowa.
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. 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.
This notice is given by order of the City Council of the City of Waukee, Iowa, as
provided by Section 364.6 of the City Code of Iowa.
Dated this 15th day of April, 2019.
Rebecca D. Schuett
City Clerk, Waukee, Iowa
(End of Notice)
PASSED AND APPROVED this 15th day of April, 2019.
Mayor
ATTEST:
City Clerk