HomeMy WebLinkAbout2017-10-16-J03 Autumn Ridge TIF Ordinance_INTRO, 1ST READ AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: October 16, 2017
AGENDA ITEM: Consideration of approval of an ordinance for the division of revenues
under Iowa Code Section 403.19 for Autumn Ridge Urban Renewal Area
(Plat 1, Lot 9 Parcel) [introduction; first reading]
FORMAT: Ordinance
SYNOPSIS INCLUDING PRO & CON: In 2015, the Waukee City Council adopted the
Autumn Ridge Residential Urban Renewal Plan for purposes of funding
the Alice’s Road widening project.
Development has occurred and valuation has been created on a portion of
the property within the Autumn Ridge residential development. Staff is
recommending an Ordinance be adopted for the collection of the new
increment that has been created within the Autumn Ridge Residential
Development.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Staff recommends approval of the Ordinance.
RECOMMENDATION: Introduce the Ordinance in title only and approve the first
consideration.
ATTACHMENTS: I. Proposed Ordinance
II. Autumn Ridge Map
PREPARED BY: Brad Deets, Development Services Director
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
ALICE'S RD.SE WACO PL.SE BRICK DR.US 6 HICKMAN RD.
SE U NIV ERSIT Y AVE.SE WESTGATE DR.SE OLSON DR.
SE LAUREL ST.SE CRABAPPLE DR.SHERIDAN AVE.
BISHOP DR.
NEHORIZON DR
NE Westgate DrSEBELLDR .CH R30 ALICE'S RD.SELEGACYPOINTEBLVD.SE
WILLI
A
MS
C
T.SE INDIGO LN.NE BOWMAN DR
S E J ONASCIRSEFRONTIER AVE.
S E SAGEWOODCIR.SE FLORENCE DR.SE G REENBRIARCIR.S E T R A D E N D R .SEROSEWOODDR.SEBLUEGRASSCIR.SEW ATERVIEW CIR.S E L A U R E L S T.
SE OLSON DR.
2017 TIF O rdinanceAutumn Ridge Residential URA
Note: P ortions of Alice's Rd. Right of Wayis includ ed in Unified URA, G atewa y Economic Developm ent URA and Autum n Ridge Residential URA
Autum n Ridg e Plat 1
Lege nd
2017 TIF Ordinance - A utumn Ridge
2016 TIF Ordinance_Autumn Ridge
2015 Autumn Ridge Residential URA
Parcels
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ORDINANCE NO. ________
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON
CERTAIN PROPERTY LOCATED WITHIN THE AUTUMN
RIDGE URBAN RENEWAL AREA, IN THE CITY OF
WAUKEE, COUNTY OF DALLAS, STATE OF IOWA, BY
AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF
WAUKEE, COUNTY OF DALLAS, WAUKEE COMMUNITY
SCHOOL DISTRICT, AND OTHER TAXING DISTRICTS, BE
PAID TO A SPECIAL FUND FOR PAYMENT OF PRINCIPAL
AND INTEREST ON LOANS, MONIES ADVANCED TO AND
INDEBTEDNESS, INCLUDING BONDS ISSUED OR TO BE
ISSUED, INCURRED BY THE CITY IN CONNECTION WITH
THE AUTUMN RIDGE URBAN RENEWAL AREA (PLAT 1,
LOT 9 PARCEL)
WHEREAS, the City Council of the City of Waukee, State of Iowa, after public notice
and hearing as prescribed by law and pursuant to Resolution No. 15-351 passed and approved on
the 19th day of October, 2015, adopted an Urban Renewal Plan (the “Urban Renewal Plan”) for
an urban renewal area known as the Autumn Ridge Urban Renewal Area (the “Urban Renewal
Area”), which Urban Renewal Area includes the lots and parcels located within the area legally
described as follows (“Plat 1, Lot 9 Parcel”):
LOT 9 OF AUTUMN RIDGE PLAT 1, AN OFFICIAL PLAT, CITY OF
WAUKEE, IOWA.
WHEREAS, expenditures and indebtedness are anticipated to be incurred by the City of
Waukee, State of Iowa, to finance urban renewal project activities carried out in furtherance of
the objectives of the Urban Renewal Plan; and
WHEREAS, the City Council of the City of Waukee, State of Iowa, desires to provide for
the division of revenue from taxation on the Plat 1, Lot 9 Parcel in the Urban Renewal Area, as
above described, in accordance with the provisions of Section 403.19 of the Code of Iowa, as
amended. [Note: The Plat 1, Lot 9 Parcel is the only portion of the Urban Renewal Area that
will be included in this TIF Ordinance. The City has previously adopted a separate ordinance
which provides for the division of revenue with respect to other portions of the Urban Renewal
Area. Nothing in this Ordinance shall amend the other ordinances nor shall this Ordinance
impact the base value or division of revenue already established in the previously approved
ordinance. The City anticipates that as other parcels develop (increase in value) in the future, the
City will adopt a separate TIF ordinance(s) on other parcels/areas within the Urban Renewal
Area. Therefore, the various TIF ordinances in this Urban Renewal Area will have different
frozen bases and different expiration dates.]
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE, STATE OF IOWA:
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Section 1. That the taxes levied on the taxable property in the Plat 1, Lot 9 Parcel of the
Urban Renewal Area legally described in the preamble hereof, by and for the benefit of the State
of Iowa, City of Waukee, County of Dallas, Waukee Community School District, and all other
taxing districts from and after the effective date of this Ordinance shall be divided as herein after
in this Ordinance provided.
Section 2. That portion of the taxes which would be produced by the rate at which the tax
is levied each year by or for each of the taxing districts upon the total sum of the assessed value
of the taxable property in the Plat 1, Lot 9 Parcel of the Urban Renewal Area, as shown on the
assessment roll as of January 1 of the calendar year preceding the first calendar year in which the
City of Waukee, State of Iowa, certifies to the Auditor of Dallas County, Iowa the amount of
loans, advances, indebtedness, or bonds payable from the division of property tax revenue
described herein, shall be allocated to and when collected be paid into the fund for the respective
taxing district as taxes by or for the taxing district into which all other property taxes are paid.
Section 3. That portion of the taxes each year in excess of the base period taxes
determined as provided in Section 2 of this Ordinance shall be allocated to and when collected be
paid into a special tax increment fund of the City of Waukee, State of Iowa, hereby established,
to pay the principal of and interest on loans, monies advanced to, indebtedness, whether funded,
refunded, assumed or otherwise, including bonds or obligations issued under the authority of
Section 403.9 or 403.12 of the Code of Iowa, as amended, incurred by the City of Waukee, State
of Iowa, to finance or refinance, in whole or in part, urban renewal projects undertaken anywhere
within the Urban Renewal Area pursuant to the Urban Renewal Plan, except that (i) taxes for the
regular and voter-approved physical plant and equipment levy of a school district imposed
pursuant to Iowa Code Section 298.2 and taxes for the instructional support program of a school
district imposed pursuant to Iowa Code Section 257.19 (but in each case only to the extent
required under Iowa Code Section 403.19(2)); (ii) taxes for the payment of bonds and interest of
each taxing district; (iii) taxes imposed under Iowa Code Section 346.27(22) related to joint
county-city buildings; and (iv) any other exceptions under Iowa Code Section 403.19 in
existence at the time this Ordinance becomes effective shall be collected against all taxable
property within the Plat 1, Lot 9 Parcel of the Urban Renewal Area without any limitation as
hereinabove provided.
Section 4. Unless or until the total assessed valuation of the taxable property in the Plat
1, Lot 9 Parcel of the Urban Renewal Area exceeds the total assessed value of the taxable
property in the Plat 1, Lot 9 Parcel of the Urban Renewal Area as shown by the assessment roll
referred to in Section 2 of this Ordinance, all of the taxes levied and collected upon the taxable
property in the Plat 1, Lot 9 Parcel of the Urban Renewal Area shall be paid into the funds for
the respective taxing districts as taxes by or for the taxing districts in the same manner as all
other property taxes.
Section 5. At such time as the loans, advances, indebtedness, bonds, and interest thereon
of the City of Waukee, State of Iowa, referred to in Section 3 hereof have been paid, all monies
thereafter received from taxes upon the taxable property in the Plat 1, Lot 9 Parcel of the Urban
Renewal Area shall be paid into the funds for the respective taxing districts in the same manner
as taxes on all other property.
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Section 6. All ordinances or parts of ordinances in conflict with the provisions of this
Ordinance are hereby repealed. The provisions of this Ordinance are intended and shall be
construed so as to fully implement the provisions of Section 403.19 of the Code of Iowa, as
amended, with respect to the division of taxes from property within the Plat 1, Lot 9 Parcel of
the Urban Renewal Area as described above. In the event that any provision of this Ordinance
shall be determined to be contrary to law, it shall not affect other provisions or application of this
Ordinance which shall at all times be construed to fully invoke the provisions of Section 403.19
of the Code of Iowa with reference to the Plat 1, Lot 9 Parcel of the Urban Renewal Area and
the territory contained therein.
Section 7. This Ordinance shall be in effect after its final passage, approval and
publication as provided by law.
PASSED AND APPROVED this __________ day of _______________, 2017.
Mayor
ATTEST:
City Clerk
Read First Time: ____________________, 2017
Read Second Time: __________________, 2017
Read Third Time: ___________________, 2017
PASSED AND APPROVED: ____________________, 2017.
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I, ____________________, City Clerk of the City of Waukee, State of Iowa, hereby
certify that the above and foregoing is a true copy of Ordinance No. ________ passed and
approved by the City Council of the City at a meeting held ____________________, 2017,
signed by the Mayor on ____________________, 2017, and published in the Dallas County
News on ____________________, 2017.
(SEAL)
City Clerk, City of Waukee, State of Iowa
01403305-1\21938-087