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Home My WebLink About2019-10-21-J01R Waukee Crossing LLC Dev Agr_Set PHCITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: October 21, 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 Waukee Crossing, LLC FORMAT:Consent Agenda SYNOPSIS INCLUDING PRO & CON: Development Agreement between the City and Waukee Crossing, 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:Becky Schuett REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: DATE OF PUBLICATION: AGENDA ITEM: J1R RESOLUTION NO. ______ RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH WAUKEE CROSSING, LLC, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, on November 4, 2019, this Council will consider whether certain areas located within the City are eligible and should be designated as an urban renewal area under Iowa law, and will consider the adoption of the Waukee Consolidated Urban Renewal Plan (the "Urban Renewal Plan" or "Plan") which proposes to consolidate the Gateway Economic Development Urban Renewal Area, the Waukee West Urban Renewal Area, and the Waukee Central Urban Renewal Area into a single urban renewal area to be known as the Waukee Consolidated Urban Renewal Area and add property to the consolidated area (the "Urban Renewal Area" or "Area"), which Plan, if adopted, will be 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 Waukee Crossing, LLC (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 and Public Improvements (as those terms are defined in the Agreement) on certain real property located within the Urban Renewal Area as defined and legally described in the Agreement, the Minimum Improvements consisting of the construction of commercial buildings and related parking and site improvements, together with all related site improvements, as outlined in the proposed 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 100% of the Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the Minimum Improvements, as defined in the Agreement, the cumulative total for all such payments not to exceed the lesser of $262,000, or the Approved Costs for the Public Improvements, under the terms and following satisfaction of the conditions set forth in the Agreement; and WHEREAS, the Agreement further proposes that the City will construct certain City Public Improvements (as defined in the Agreement) in support of the Project; 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 in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at 5:30 P.M. on November 4, 2019, for the purpose of taking action on the matter of the proposal to enter into an Agreement with Waukee Crossing, 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 A DEVELOPMENT AGREEMENT WITH WAUKEE CROSSING, 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 on November 4, 2019, at 5:30 P.M. in the Council Chambers, City Hall, 230 West Hickman Road, Waukee, Iowa, at which meeting the Council proposes to take action on the proposal to enter into a Development Agreement (the "Agreement") with Waukee Crossing, LLC (the "Developer"). The Agreement would obligate the Developer to construct certain Minimum Improvements and Public Improvements (as those terms are defined in the Agreement) on certain real property located within the proposed Waukee Consolidated Urban Renewal Area, as defined and legally described in the Agreement, the Minimum Improvements consisting of the construction of commercial buildings and related parking and site improvements, together with all related site improvements, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement would further obligate the City to make up to five (5) consecutive annual payments of Economic Development Grants to Developer consisting of 100% of the Tax Increments pursuant to Section 403.19, Code of Iowa, and generated by the construction of the Minimum Improvements, as defined in the Agreement, the cumulative total for all such payments not to exceed the lesser of $262,000, or the Approved Costs for the Public Improvements, under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement further proposes that the City will construct certain City Public Improvements (as defined in the Agreement) in support of the Project. A copy of the Agreement is on file for public inspection during regular business hours in the office of the City Clerk, City Hall, City of 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 in the State of Iowa, as provided by Section 364.6, Code of Iowa. Dated this 21st day of October, 2019. Rebecca D. Schuett City Clerk, City of Waukee in the State of Iowa (End of Notice) PASSED AND APPROVED this 21st day of October, 2019. Mayor ATTEST: City Clerk