HomeMy WebLinkAbout2019-10-21-J01S Kettleview LLC Dev Agr_Amended_Set PHAGENDA ITEM:
CITY 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 an Amended and Restated Agreement for
Private Development with Kettleview, L.L.C.
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: Development Agreement between the City and
Kettleview, LLC, was originally approved by the Waukee City Council
May 20, 2019 (Resolution #19-176). An amended and restated
agreement is proposed to amend the description of the Minimum
Improvements, the completion dates, the Economic Development Grant
schedules, and the Minimum Assessment Agreement.
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:
J1S
RESOLUTION NO. ____________________
RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON
THE PROPOSAL TO ENTER INTO AN AMENDED AND
RESTATED AGREEMENT FOR PRIVATE DEVELOPMENT
WITH KETTLEVIEW, L.L.C., AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, by Resolution No. 13-257, adopted October 21, 2013, and amended six times,
most recently by Amendment No. 6 adopted January 21, 2019, 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 Gateway Economic Development Urban
Renewal Plan (the "Urban Renewal Plan" or "Plan") for the Gateway Economic Development
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, the Area is anticipated to be incorporated into the Waukee Consolidated
Urban Renewal Area to be adopted on November 4, 2019; and
WHEREAS, it is desirable that properties within the Area be redeveloped as part of the
overall redevelopment area covered by said Plan, as amended; and
WHEREAS, the City of Waukee, Iowa ("City") and Kettleview, L.L.C. ("Developer")
entered into an Agreement for Private Development on May 20, 2019, authorized by the City
pursuant to Resolution No. 19-176 ("Original Agreement"); and
WHEREAS, pursuant to the Original Agreement, Developer was to cause certain
Minimum Improvements to be constructed on certain real property located within the Urban
Renewal Area and to use commercially reasonable efforts to obtain tenants or purchasers to employ
employees in the Minimum Improvements; and
WHEREAS, the City and Developer desire to make several changes to the Original
Agreement, including changes to the description of the Minimum Improvements, the completion
dates, the Economic Development Grant schedules, and the Minimum Assessment Agreement,
and accordingly the City and Developer have proposed that the Original Agreement should be
replaced in its entirety by a proposed Amended and Restated Agreement for Private Development
(the "Agreement" or "Amended and Restated Agreement"); and
WHEREAS the Amended and Restated Agreement proposes that, in exchange for
Developer’s obligations under the Agreement, the City would construct certain Public
Improvements and would provide Economic Development Grants to the Developer for five (5)
distinct phases of development described in the Agreement, with the Grants for each phase to be
made as five (5) consecutive annual payments, each annual payment in the amount of 100% of the
Tax Increment generated by the commercial development in that particular phase, not to exceed
$4,100,000 in the aggregate, under the terms and conditions of the Amended and Restated
Agreement; and
WHEREAS, the Amended and Restated Minimum Assessment Agreement establishes an
aggregate value for the completed Minimum Improvements at $53,900,000; and
WHEREAS, Iowa Code Chapters 15A and 403 (the "Urban Renewal Law") authorize cities
to make grants for economic development and construct public improvements 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 Amendment 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 proposed Amended and Restated 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 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 Amended and Restated Agreement for Private Development
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 IN THE STATE OF IOWA, ON THE
MATTER OF THE PROPOSAL TO ENTER INTO AN
AMENDED AND RESTATED AGREEMENT FOR PRIVATE
DEVELOPMENT WITH KETTLEVIEW, L.L.C., 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 an Amended and Restated Agreement for Private Development
("Amended and Restated Agreement") with Kettleview, L.L.C. (the "Developer").
On May 20, 2019, the City and Developer entered into a Development Agreement
("Original Agreement"), pursuant to which the Developer agreed to cause certain Minimum
Improvements to be constructed on certain real property located within the Gateway Economic
Development Urban Renewal Area and to use commercially reasonable efforts to obtain tenants
or purchasers to employ employees in the Minimum Improvements.
The Amended and Restated Agreement would replace the Original Agreement and would
make changes to terms relating to the description of the Minimum Improvements, the completion
dates, the Economic Development Grant schedules, and the Minimum Assessment Agreement.
Pursuant to the Amended and Restated Agreement, the City would construct certain Public
Improvements and would provide Developer with Economic Development Grants for five (5)
distinct phases of development as further described in the Amended and Restated Agreement, with
the Grants for each phase to be made as five (5) consecutive annual payments, each annual
payment in the amount of 100% of the Tax Increment generated by the commercial development
in that particular phase, not to exceed $4,100,000 in the aggregate, under the terms and conditions
of the Amended and Restated Agreement. The Amended and Restated Minimum Assessment
Agreement establishes an aggregate value for the completed Minimum Improvements at
$53,900,000.
A copy of the Amended and Restated 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 Amended and Restated 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 Amended and Restated 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 of the City 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