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Home My WebLink About2021-11-15-G02 Waukee Unified URP Amendment 11_PH AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: November 15, 2021 AGENDA ITEM: Public Hearing on the adoption of a proposed Amendment No. 11 to the Waukee Unified Urban Renewal Plan FORMAT: Public Hearing SYNOPSIS INCLUDING PRO & CON: The City Council adopted a Unified Urban Renewal Plan in 2011. The objective of the Unified Plan was to consolidate and link the urban renewal areas that had previously been approved in the past in order to maximize the future expenditure of incremental property tax revenues necessary to promote economic development. The purpose of the proposed Amendment #11 to the Waukee Unified Urban Renewal Plan is to remove certain areas of property that have not been developed to date or where a 20 year TIF District was established and has now been completed. Other modifications to the document include updates to the list of projects that increment from the district could be utilized for as well as updates to the financial data. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: In accordance with State Code, staff held a consultation with the other taxing entities affected by this plan on October 25, 2021. There was no one in attendance at the consultation. RECOMMENDATION: Hold the Public Hearing ATTACHMENTS: I. Proposed Waukee Unified Urban Renewal Plan Amendment No. 11 PREPARED BY: Brad Deets, Assistant City Administrator REVIEWED BY: PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: Dallas County News DATE OF PUBLICATION: November 4, 2021 G2 FINAL 101221 - 1 - WAUKEE UNIFIED URBAN RENEWAL PLAN AMENDMENT #11 CITY OF WAUKEE, IOWA Amendment #1 – 2011 Amendment #2 – 2011 Amendment #3 – 2012 Amendment #4 – 2013 Amendment #5 – 2014 Amendment #6 - 2015 Amendment #7 – 2016 Amendment #8 - 2018 Amendment #9 – 2019 Amendment #10 – 2020 Amendment #11 - 2021 FINAL 101221 - 2 - AMENDMENT #11 to WAUKEE UNIFIED URBAN RENEWAL PLAN CITY OF WAUKEE, IOWA Amendment #1 to the Waukee Unified Urban Renewal Plan ("Plan" or "Urban Renewal Plan" or "Unified Plan") for the Waukee Unified Urban Renewal Area ("Area" or "Unified Area"), adopted in 2011, and amended in 2011, 2012, 2013, 2014, 2015, 2016, 2018, 2019 and 2020 is being further amended to remove certain undeveloped or underutilized real estate from the Area to the extent described hereinafter and to add and/or confirm the list of proposed projects to be undertaken within the Waukee Unified Urban Renewal Area by this Amendment #11 ("Amendment #11" or "Amendment"). The "base valuation" of the Waukee Unified Urban Renewal Area will be reduced by this Amendment because certain real estate, identified as the “Amendment #11 Area” (described in Exhibit A), is being removed. This Amendment #11 repeats much of Amendment No. 10 adopted in 2020 for the reader's convenience. The material changes to this Amendment #11 are the following: • removing the property described as the "Amendment #11 Area" from the Waukee Unified Urban Renewal Area; • updating the Previously Approved Urban Renewal Projects (Public Improvements and Development Agreement), page 7; • updating the Eligible Urban Renewal Projects (Amendment #11), page 8; • updating the Financial Data, page 9; • updating Exhibit A to include a legal description of the property being removed from the Waukee Unified Urban Renewal Area (the "Amendment #11 Area"); • updating the maps of the Area in Exhibits B and C. Except as modified by this Amendment, the provisions of the original Unified Urban Renewal Plan, as previously amended, are hereby ratified, confirmed, and approved and shall FINAL 101221 - 3 - remain in full force and effect as provided herein. In case of any conflict or uncertainty, the terms of this Amendment shall control. DESCRIPTION OF THE URBAN RENEWAL AREA The legal description of the property being removed from the Unified Urban Renewal Area is attached hereto as Exhibit "A." A map of the Amendment #11 Area being removed is attached as Exhibit "B." A map of the entire Unified Urban Renewal Area, as amended, is attached hereto as Exhibit "C." AREA DESIGNATION The Area continues to be a mixed area in which blight conditions exist and an economic development area that is appropriate for the promotion of new commercial and industrial development. HISTORY AND PURPOSE The City's first Urban Renewal Area was established in 1988. Over the years, as the City continued to grow and commercial development opportunities became available, the City created and amended several new urban renewal areas. In 2004, the City linked the various urban renewal areas that had been created in previous years. In 2011, the City of Waukee approved a Unified Urban Renewal Plan and Amendment No. 1. The 2011 Unified Plan continued the City's objective to consolidate and link the urban renewal areas together in order to maximize the future expenditure of incremental property tax revenues necessary to promote economic development. Amendment Nos. 2, 3, 4, 5, 6, 7, 8,9 and 10 to the Unified Plan followed. Following several years of planning and hard work with the state and federal government, the City now has entrance and exits ramps off Interstate 80 providing direct access along Grand Prairie Parkway (formerly known as Alice's Road) into the City proper. This new access point will create unique opportunities for economic development within the City, unlike those previously anticipated in this Unified Plan. For example, previously the City lacked a central area for big box development, which obviously requires planning approaches for access, infrastructure and improvements that differ from the subdivisions and planning within the City generally. The Grand Prairie Parkway corridor area can now focus specifically on these types of developments. Accordingly, the City created the Gateway Economic Development Urban Renewal Area in 2013. This new area includes all of the existing undeveloped property at the new Interstate 80 interchange on the south edge of the community, as well as the connecting corridor into Waukee. In 2017, the City was presented with an incredible economic development opportunity when a large technology company announced its intent to construct a data center on the west side FINAL 101221 - 4 - of the City. To support that project and the anticipated, resulting development anticipated for that area, the City created the Waukee West Urban Renewal Area. Also in 2017, the City adopted the Waukee Central Urban Renewal Area to support another commercial development project. In 2019, the City created the Consolidated Urban Renewal Plan and Amendment No. 1, which includes and combines the areas that have previously been established in the Gateway Economic Development Urban Renewal Area, the Waukee West Urban Renewal Area, and the Waukee Central Urban Renewal Area. The Consolidated Urban Renewal Plan was created to maximize the future expenditure of incremental property tax revenues that have and will be generated in the Gateway Economic Development Urban Renewal Area, the Waukee West Urban Renewal Area, and the Waukee Central Urban Renewal Area. Amendments 2, 3, and 4 to the Consolidated Urban Renewal Plan have followed. While new and unique opportunities exist for the Grand Prairie Parkway/Interstate corridor and the western edge of the City, some parcels within the Unified Area have over the years been developed for residential purposes, while other parcels have been identified as underutilized. Even though some areas within the Unified Area developed as residential, the City has followed a longstanding guideline not to certify tax increment debt for residential housing projects in this Area. In light of the above, and due to the rapid and continuing growth experienced by the City since the first urban renewal area was established in 1988, City officials feel it is appropriate to continually re-evaluate all subareas within the Unified Area not only to determine which parcels should be removed and considered for inclusions within the Consolidated Urban Renewal Plan, but also to evaluate appropriateness of parcels to remain within any of the City's urban renewal areas. Several factors are evaluated, including: • Existing land uses of each subarea, • Number of years each subarea had been contained within the Urban Renewal Area, • Base valuations, • Availability of public infrastructure, • Potential of each subarea for development or redevelopment, future land uses, and conformity of such future development to the City's overall general plan for the physical development of the City as a whole. • Anticipated schedule for future development. This evaluation has resulted in the decision from time to time to remove various parcels from the Unified Area for a variety of reasons: • In general, the City's current guideline is not to utilize tax increment financing incentives for residential housing projects within this Area. As a result, the City has removed several properties due to their development into residential uses. FINAL 101221 - 5 - • Since most of the other land removed from the Waukee Unified Urban Renewal Area is undeveloped, there has been very little, if any, increment that has been added to the Waukee Unified Urban Renewal Area by these parcels. For those areas that development has not occurred, nor is intended to occur in the foreseeable future, the City removed such properties in order to release that valuation back to the affecting taxing districts. If future development is sought, the City may seek to create a new area, add the property to another area, or further amend this Area to address said development. • As the City invests millions of dollars in infrastructure to support the Grand Prairie Parkway corridor and the unique development opportunities this corridor as well as the western edge of the City will provide to the community, the City removed undeveloped properties in the corridor from the Unified Area and added some of those properties to the Gateway Economic Development Urban Renewal Area and Waukee West Urban Renewal Area. The undeveloped properties being removed from the Unified Area by this Amendment No. 10 are slated to be added to the Consolidated Urban Renewal Area to be used for urban renewal projects throughout the rapidly developing areas within the City. Collectively, these planning decisions will enable the City to continue maximizing the future use of tax increment revenues to support new development that is expected to take place in the City. PROJECT OBJECTIVES Renewal activities are designed to provide opportunities, incentives, and sites for community economic development purposes, including new and expanded industrial and commercial development and blight remediation. Objectives include: 1. To stimulate through public action and commitment, private investment in new commercial and industrial development. 2. To plan for and provide sufficient land for commercial or industrial development. 3. To provide for the installation of public infrastructure and facilities in the Urban Renewal Area, which ultimately contribute to the sound development of the entire City. 4. To provide a more marketable and attractive investment climate. 5. To remediate blight in applicable areas. 6. To achieve a diversified, well-balanced economy providing a desirable standard of living, creating job opportunities, and strengthening the tax base. FINAL 101221 - 6 - TYPES OF RENEWAL ACTIVITIES To meet the objectives of this Urban Renewal Plan and to encourage the development of the area, the City intends to utilize the powers conferred under Chapters 403 and Chapter 15A, Code of Iowa. 1. To undertake and carry out urban renewal projects through the execution of contracts and other instruments. 2. To acquire land and to provide for the construction of urban renewal projects or specific site improvements such as grading and site preparation activities, access roads and parking, fencing, utility connections, and related activities. 3. To arrange for or cause to be provided the construction or repair of public infrastructure, including but not limited to, streets, water, storm sewer, sanitary sewer, public utilities, sidewalks, street lights, public parks and open spaces, bike trails, landscaping or other related facilities and activities in connection with urban renewal projects. 4. To make loans, forgivable loans, tax rebate payments or other types of economic development grants or incentives to private persons or businesses for economic development purposes on such terms as may be determined by the City Council. 5. To use tax increment financing to facilitate urban renewal projects, including, but not limited to, financing to achieve a more marketable and competitive land offering price and to provide for necessary physical improvements and infrastructure. 6. To borrow money and to provide security therefor. 7. To make or have made surveys and plans necessary for the implementation of the Urban Renewal Program or specific urban renewal projects. 8. To contribute to the elimination or remediation of blight through contributions and/or incentives. 9. To assist with the operation, repair, and maintenance of the City-owned golf course. 10. To acquire property through a variety of means (purchase, lease, option, etc.) and to hold, clear or prepare the property for redevelopment, or to dispose of property. 11. To use any or all other powers granted by the Urban Renewal Act to develop and provide for improved economic conditions for the City of Waukee and the State of Iowa. FINAL 101221 - 7 - Nothing herein shall be construed as a limitation on the power of the City to exercise any lawful power granted to the City under Chapter 15, Chapter 15A, Chapter 403, Chapter 427B, or any other provision of the Code of Iowa in furtherance of the objectives of this Urban Renewal Plan. PREVIOUSLY APPROVED URBAN RENEWAL PROJECTS Numerous urban renewal projects were included in Amendment #10 and preceding amendments. These previously authorized projects include but are not limited to the following projects which have been initiated and are continuing: 1) Public Improvements Project Bond Reference Balance as of July 1, 2021 Alice’s Road/University Intersection/Grand Prairie Parkway Extension/Interchange Ramps/Traffic Signals and Kettlestone Master Plan Consulting 2014A GO Urban Renewal $7,503,220.00 WRA Outfall Sewer Project 2016B $ 202,600.00 Raccoon River Valley Trail Extension GO Urban Renewal Warrior Lane/Ashworth Drive (5 way) Intersection Reconstruction and Warrior Lane Widening 2021A GO Abated w/TIF Revenues $6,901,094.00 TOTAL $ 14,606,914.00 Numerous urban renewal projects were included in Amendment #10 and preceding amendments. These previously authorized projects include the following projects which have been initiated, however no tax increment financing is anticipated to be utilized in the financing of the projects: 1) Public Improvements Project Completion Date/Estimated Completion Date Estimated Cost Rationale Alice's Road Expansion Phase 1 (University to Olson) 2018 $6,500,000 - $8,000,000 Commercial Corridor Roadway Expansion Westgate Drive/Hickman Road Traffic Signal 2017-2019 $250,000 - $350,000 Commercial Corridor Roadway Expansion 2017 $250,000 - $350,000 Commercial Corridor Roadway Expansion Alice’s Road Expansion Phase 2 (Olson to Horizon) 2019 $7,500,000 - $9,000,000 Commercial Corridor Roadway Expansion TOTAL $14,250,000- $17,350,000 Note: This total does not include financing costs related to debt issuance FINAL 101221 - 8 - In addition, numerous urban renewal projects were included in Amendment #10 and preceding amendments, but have not yet been initiated. These previously authorized projects include but are not limited to: 1. Public Improvements Project Estimated Date Estimated Cost Rationale Grand Prairie Parkway (Interstate 80 to University) Streetscape Enhancements – landscaping, trails, underpass enhancements, signage 2019 - 2022 $2,000,000 - $4,000,000 Commercial Corridor Roadway Expansion Hickman Road/Warrior Lane Pedestrian Underpass 2020-2023 $1,500,000 - $2,500,000 Continued improvement of trail system for essential community amenity and betterment TOTAL $3,500,000- $6,500,000 Note: This total does not include financing costs related to debt issuance Note: It may be that the above costs will be reduced by the application of state and/or federal grants or programs; cost-sharing agreements with other entities; or other available sources of funds. ELIGIBLE URBAN RENEWAL PROJECTS (Amendment #11) Although certain project activities may occur over a period of years, in addition to any projects previously proposed in the Unified Urban Renewal Plan, as previously amended, the eligible Urban Renewal Projects under this Amendment include: 1. Development Agreements Future Development Agreements: The City expects to consider requests for Development Agreements for projects that are consistent with this Plan, in the City's sole discretion. Such Agreements are unknown at this time, but based on past history, and dependent on development opportunities and climate, the City expects to consider a broad range of incentives as authorized by this Plan, including but not limited to land, loans, grants, tax rebates, public infrastructure assistance and other incentives. The costs of such Development Agreements will not exceed $8,000,000 - $10,000,000. 2. Planning, engineering fees for planning work, attorney fees, other related costs to support urban renewal projects and planning Project Date Estimated Cost Fees and costs Undetermined Not to exceed $1,000,000 FINAL 101221 - 9 - FINANCIAL DATA 1. July 1, 2021, constitutional debt limit: $118,834,828 2. Current outstanding general obligation debt: $93,002,459 3. Current remaining balance of indebtedness incurred based upon Previously Approved Projects that have been initiated and are supported by tax increment financing: $ 14,606,914 4. Proposed amount of indebtedness to be incurred: A specific amount of debt to be incurred for the Eligible Urban Renewal Projects (Amendment #11) has not yet been determined. This document is for planning purposes. The estimated project costs in this Amendment are estimates only and will be incurred and spent over a number of years. In no event will the City's constitutional debt limit be exceeded. The City Council will consider each project proposal on a case-by-case basis to determine if it is in the City's best interest to participate before approving an urban renewal project or expense. It is further expected that such indebtedness, including interest on the same, may be financed in whole or in part with tax increment revenues from the Urban Renewal Area. Subject to the foregoing, it is estimated that the cost of the Eligible Urban Renewal Projects (Amendment #11) as described above will be approximately as follows: $9,000,000– $11,000,000 DEVELOPMENT PLAN Waukee has a general plan for the physical development of the City as a whole outlined in the Waukee Comprehensive Land Use Plan, adopted in 2019. This Urban Renewal Plan, as amended by Amendment #11, is in conformity with the 2019 Comprehensive Plan, and the land use policy and priorities that were adopted as part of the planning process. Specific objectives identified in the Comprehensive Plan include, but are not limited to, a connected citizenry involving the creation of strong civic gathering places; a successful and economically viable downtown; business environments that define the future through innovation and creativity; and mixed-use and neighborhood-integrated commercial developments which maintain a strong retail base and are designed to be sustainable. This Urban Renewal Amendment does not change or in any way replace the City's current land use planning or zoning regulation process. The need for improved traffic, public transportation, public utilities, recreational and community facilities, or other public improvements within the Urban Renewal Area is set forth in FINAL 101221 - 10 - this Plan, as amended. As the Area develops, the need for public infrastructure extensions and upgrades will be evaluated and planned for by the City. URBAN RENEWAL FINANCING The City of Waukee intends to utilize various financing tools such as those described below to successfully undertake the proposed urban renewal actions. The City of Waukee has the statutory authority to use a variety of tools to finance physical improvements within the Area. These include: A. Tax Increment Financing. Under Section 403.19 of the Code of Iowa, urban renewal areas may utilize tax increment financing mechanism to finance the costs of public improvements associated with redevelopment projects. Upon creation of a tax increment district within the Area, by ordinance, the assessment base is frozen and the amount of tax revenue available from taxes paid on the difference between the frozen base and the increased value, if any, is segregated into a separate fund for the use by the City to pay costs of the proposed urban renewal projects. The increased taxes generated by any new development, above the base value, are distributed to the taxing entities, if not requested by the City and in any event upon the expiration of the tax increment district. B. General Obligation Bonds. Under Division III of Chapter 384 and Chapter 403 of the Iowa Code, the City has the authority to issue and sell General Obligation bonds for specified essential and general corporate purposes, including the acquisition and construction of certain public improvements and urban renewal projects within the Area. Such bonds are payable from the levy of unlimited ad valorem taxes on all the taxable property within the City of Waukee. It may be the City will elect to abate some or all of the debt service on these bonds with incremental taxes from this Area. The City may also determine to use tax increment financing to provide incentives such as cash grants, loans, tax rebates or other incentives to developers in connection with the urban renewal projects identified in this Amendment related to blight remediation and/or commercial or industrial development. In addition, the City may determine to issue general obligation bonds, tax increment revenue bonds or such other obligations, or loan agreements for the purpose of making loans or grants of public funds to private businesses located in the Area. Alternatively, the City may determine to use available funds for making such loans or grants or other incentives related to urban renewal projects. Nothing herein shall be construed as a limitation on the power of the City to exercise any lawful power granted to the City under Chapter 15, Chapter 15A, Chapter 403, Chapter 427B, or FINAL 101221 - 11 - any other provision of the Code of Iowa in furtherance of the objectives of this Urban Renewal Plan. PROPERTY ACQUISITION/DISPOSITION The City will follow any applicable requirements for the acquisition and disposition of property. URBAN RENEWAL PLAN AMENDMENTS The Unified Urban Renewal Plan may be amended from time to time for a variety of reasons, including but not limited to, adding or deleting land, adding or modifying urban renewal projects, or modifying goals or types of renewal activities. The City Council may amend this Plan in accordance with applicable state law. EFFECTIVE PERIOD This Amendment #11 to the Unified Urban Renewal Plan will become effective upon its adoption by the City Council. Notwithstanding anything to the contrary in the Urban Renewal Plan, any prior amendment, resolution, or document, the Unified Urban Renewal Plan, as amended, shall remain in effect until terminated by the City Council and will remain in effect for the maximum time allowed by law. This Amendment is not effecting any change to the expiration date for the division of revenue in the Original Area or any subarea (Amendment Area) of the Unified Urban Renewal Area. REPEALER Any parts of the previous Plan, as previously amended, in conflict with this Amendment are hereby repealed. SEVERABILITY CLAUSE If any part of the Amendment is determined to be invalid or unconstitutional, such invalidity or unconstitutionality shall not affect the validity of the previously adopted Plan as a whole or the previous amendments to the Plan, or any part of the Plan or Amendment not determined to be invalid or unconstitutional. FINAL 101221 - 12 - EXHIBIT "A" "Amendment #11 Area” – Property to be Removed from Urban Renewal Area Legal Description Area to be removed from Waukee Urban Renewal Area (2000) Lot A of The Point Plat 1 (Parcel No. 1227308002); and, Lot 3 of Enterprise Business Park Plat 3 also known as Lots 1 and 2 of Waukee Medical Park (Parcel No. 1227376002, 1227376003); and, Lots 1, 2, 4, 6 and 7 of Enterprise Business Park Plat 3 (Parcel No. 1227377001, 1227377002 1227378001, 1227378003, 1227378004); and, Lots A and B of Enterprise Business Park Plat 3 (Parcel No. 1227378005); and, Lots 12 and 13 of Enterprise Business Park Plat 4 (Parcel 1227358002, 1227358001); and, Lot 1 of The Crossing at Alice’s Road Plat 2 (Parcel 1227402002); and, Lot 1 of The Crossing at Alice’s Road Plat 3 (Parcel No. 1227403002); and, A tract of land consisting of approximately 5.79 acres more or less (460' x 560') as measured along and from existing fences or property lines, said tract being located in the Northeast corner of the Northeast 1/4 of the Southeast 1/4 of Section 27, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa said tract is more particularly described as follows: Beginning at the East 1/4 corner of Section 27, T-79N, R-26W of the 5th P.M., City of Waukee, Dallas County, Iowa, thence S89°4 1 '56"W along the North line of the SE 1/4 of said Section 27, 560.00 feet to a point; thence SOO°15102"W, 460.00 feet to a point; thence N89°41'56"E, 560.00 feet to a point on the East line of said SE 1/4; thence NOO°15'02"E along said East line 460.00 feet to the point of beginning. (Parcel No. 1227400007); and, Lot A of Prairie Crossing Plat 3 (Parcel No. 1227410006); and, Parcel 17-71 of Outlot Y of Prairie Crossing Plat 3 as recorded in Book 2016 Page 7933, City of Waukee, Dallas County, Iowa (Parcel No. 1227410008); and, Lots 1-84 and Outlot Z of Prairie Crossing Townhomes (Parcel No. 1227428001 through 1227428085); and, Lots 1 and 2 of The Crossing at Alice’s Road Plat 4 (Parcel No. 1227476001, 1227476002); and, Lot 2 of Prairie Crossing Plat 6 (Parcel No. 1227477002); and, FINAL 101221 - 13 - Lots A and B of The Crossing at Alice’s Road Plat 1 (Parcel No. 1227401003); and, The West half of the Alice’s Road Right of way from the north right of way line of East Hickman Road (Highway 6) to the centerline of NE Boston Parkway; and, Lot 4 of Waukee Development Plat 1 (Parcel No. 1228300005); and, The South 240.50 feet of Lot 2 of Waukee Development Plat 1 (Parcel No. 1228300009); and, An irregular shaped tract of land that is located in Lot 1 of Waukee Development Plat 1 described as follows: Commencing at the SW Corner of said Lot 1, thence North, along the west line of said Lot 1, 139.5 feet to the Point of Beginning, thence continuing North, along the West Line of said Lot 1, 250.5 feet to a point that is 22.5 feet South of the NW Corner of said Lot 1, thence East at right angles 184.0 feet, thence South, at right angles, 190.0 feet, thence West at right angles, 49.5 feet, thence South at right angles, 60.5 feet, thence West, at right angles, 134.5 feet to the Point of Beginning (Parcel No. 1228300010); and, Parcel A of the Survey of the SE ¼ of the SW ¼ of Section 28, Township 79 North, Range 26 West of the 5th P.M., Waukee, Dallas County, Iowa as shown in Book 802, Page 350 except for land deeded to the State of Iowa in Book 1998, Page 6708 (Parcel No. 1228300027); and, The East 400 feet of the West 800 feet of Lot 6 and the South 75 feet of the West 400 feet of Lot 6 all in Waukee Development Plat 1 (Parcel No. 1228300029); and, Parcel "C" as shown in a Plat of Survey recorded in Book 2001 Page 4546 in the Southwest Quarter (SW1/4) of Section Twenty-eight (28), Township Seventy-nine (79) North, Range Twenty-six (26) West of the 5th P.M., in the City of Waukee, Dallas County, Iowa, EXCEPT Commencing at the Southeast Corner of Lot 3 of said Waukee Development Plat 1; thence South 0°09'35" East along west line of Lot 1 of said Waukee Development Plat and extended Southerly, 26.23 feet to a point on the West Line of said Parcel "C" and a point on the East Right-of-Way line of N. 6th Street and to the point of beginning; thence continuing South 0°09'35" East, 6.74 feet; thence Southeasterly along a curve concave Northeasterly whose radius is 30.00 feet, whose arc length is 47.01 feet and whose chord bears South 45°03'10" East, 42.35 feet to a point on the South line of said Parcel "C"; thence North 89°56'45" West along said South line, 44.27 feet to the Southwest Corner of said Parcel "C" and a point on said East Right- of-Way line; thence Northerly along said West line and said East Right-of-Way line and along a curve concave easterly whose radius is 164.96 feet, whose arc length is 10.33 feet and whose chord bears North 20°10'48" East; 10.33 feet; thence North 22°00'44" East continuing along said West line and said East Right-of-Way line, 29.03 feet to the point of beginning and containing 0.01 acres (463 S.F.) (Parcel No. 1228300033); and, Lot 5 of Waukee Development Plat 1 except that part of Lot 5 as described in the Warranty Deed recorded in Book 2007 Page 14955 and described as follows: Beginning at the Northeast Corner of said Lot 5; thence South 0°09'50" East along the East Line of said Lot 5, a distance of 282.66 Feet to the Northeast Corner of the Property described in a FINAL 101221 - 14 - Warranty Deed Recorded in Book 1998, Page 6312 in the Office of the Dallas County Recorder; thence South 55°13'54" West along the North Line of said Property described in Warr anty Deed, 48.38 Feet; thence South 26°48'27" West continuing along said North Line, 199.11 Feet; thence South 65°25'16" West continuing along said North Line, 62.14 Feet; thence North 89°51'34" West continuing along said North Line, 424.62 Feet to the Nor thwest Corner of said Property described in Warranty Deed and to a point on the East Line of Lot 4 of said Waukee Development Plat No. 1; thence North 0°10'59" West along said East Line, 115.07 Feet to the Northeast Corner of said Lot 4; thence South 89°50 '17" East 225.95 Feet; thence North 0°09'19" East 399.42 Feet to a point on the North Line of said Lot 5; thence South 89°50'17" East along said North Line of Lot 5, a distance of 383.20 Feet to the Point of Beginning and containing 4.68 (Parcel No. 1228300034); and. Parcel 20-04, an irregular shaped portion of Lot 1 in Waukee Development Plat No. 1, an Official Plat, now included in and forming a part of the City of Waukee, Dallas County, Iowa as shown on Plat of Survey at Book 2020 Page 1023 (Parcel No. 1228300041); and, Parcel 20-03, an irregular shaped portion of Lot 1 in Waukee Development Plat No. 1, an Official Plat, now included in and forming a part of the City of Waukee, Dallas County, Iowa as shown on Plat of Survey at Book 2020 Page 1023 (Parcel No. 1228300042); and, Lots 1, 2 and Lot A of Interstate Business Ventures Plat 1 (Parcel No. 1228301001, 1228301002, 1228301003); and, Lots 1, 2, A and B of Shottenkirk Waukee Plat 1 (Parcel No. 1228351001, 1228351002, 1228351003, 1228351004); and, Lots 1 and A of Shottenkirk Waukee Plat 2 (Parcel 1228379001, 1228379002); and, Parcel Z, an irregular shaped portion of the South half of Section 28, Township 79 North, Range 26 West of the 5th P.M., Waukee, Dallas County, Iowa as described in plat of survey recorded in Book 2011 Page 16803 (Parcel No. 1228400011); and, Lots 1 and A of Waukee YMCA Plat 1 (Parcel No. 1228476001, 1228476002); and, Lots 2, 3, A and B of Waukee Greenway Park Plat 1 (Parcel No. 1228477002, 1228478001, 1228478002); and, Lots 13 – 18 of Block 9 of the 1st Addition to the Town of Waukee, Dallas County Iowa. (Parcel No. 1233102017, 1233102018); and, Lots Twenty-three (23) and Twenty-four (24) in Block Ten (10) in the First Addition to the Town of Waukee, Dallas County, Iowa, (Parcel No. 1233110008, 1233110011); and, Lots 25 and 26 of Block Ten in the First Addition to the Town of Waukee, Iowa AND Commencing at the Northwest Corner of Lot Twenty-six (26), Block Ten (10) in the First Addition to the Town of Waukee, Iowa, thence East Seventy (70) feet along the North side of FINAL 101221 - 15 - said Lot Twenty-six (26) to the South line of Adel Avenue in said Town, thence Northwesterly along South side of said Adel Avenue to the East side of the alley which runs North and South through said Block Ten (10), thence South along the East side of said North and South alley to the point of beginning, the same being all of the ground lying between said Lot Twenty-six (26) of Block Ten (10) in the First Addition to the Town of Waukee, Iowa and Adel Avenue in said Town (Parcel No. 1233110006, 1233110007, 1233110010); and, Lots 21 and 22 of Block Ten in the First Addition to the Town of Waukee, Iowa (Parcel No. 1233110013); and, Lots 1 through 14 of Block Eight in the Original Town, Now City of Waukee, Iowa (Parcel No. 1233131002, 1233131003); and, Parcel B in the East ½ of the NW ¼ of Section 33, Township 79 North, Range 26 West of the 5th P.M. City of Waukee, Dallas County, Iowa (Parcel No. 1233131006); and, Lots 1 and 2 of Block Nine in the Original Town, Now City of Waukee, Iowa (Parcel No. 1233132001); and, Lots 11 through 22 of Block Eleven in the First Addition to the Town of Waukee, Iowa (Parcel No. 1233154009, 1233154010, 1233154011, 1233154012, 1233154013, 1233154014. 1233154015); and, Lot 1 of Vince Meyer Learning Center Plat 1 (Parcel No. 1233165001); and, Lots 1 through 3 of Block Ten in the Original Town, Now City of Waukee, Iowa (Parcel No. 1233176001, 1233176010, 1233176011, 1233176003); and, Lots 16-18 of Block Ten in the Original Town, Now City of Waukee, Iowa (Parcel No. 1233176004); and, Lots 4 through 15 of Block Ten in the Original Town, Now City of Waukee, Iowa (Parcel No. 1233176005, 1233176006, 1233176007, 1233176008, 1233176009); and, Lots 1 through 18 of Block Seven in the Original Town, Now City of Waukee, Iowa (Parcel No. 1233177001, 1233177002, 1233177003, 1233177004, 1233177007); and, Parcel B of the Plat of Survey filed in Book 2001, Page 4452 of Lot 3 in Candleridge Park, an Official Plat, City of Waukee, Dallas County, Iowa (Parcel No. 1233201030); and, Parcel C of the Plat of Survey filed in Book 2001, Page 4452 of Lot 3 in Candleridge Park, an Official Plat, City of Waukee, Dallas County, Iowa also known as Units A-D of Waukee Professional Plaza II Association (Parcel No. 1233207000, 1233207001, 1233207002, 1233207003, 1233207004); and, FINAL 101221 - 16 - The East 636.7 feet of the South 347 feet of the North 1,307 feet of the NE Quarter of the SE Quarter of Section 33, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa (Parcel No. 1233432019); and, An irregular shaped parcel of land being part of the East Half of the Southeast Quarter of Section 34, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa, lying North of the North right of way line of the Chicago Northwestern Railroad, EXCEPT the West 3.0 acres thereof, described as follows: beginning at the Southeast corner of said Section 34, thence South 89°41'53" West along the South line of the Southeast Quarter of said Section 34, 115.91 feet; thence North 63°13'31" West along the Northerly right of way line of said Railroad 1281.28 feet; thence North 00°01'03" West along the East line of the West 3.0 acres of said East Half of the Southeast Quarter of Section 34, lying North of said Railroad right of way, 576.29 feet; thence North 89°41'53" East, 1258.66 feet to a point on the East line of said Southeast Quarter; thence South 00°04'00" East along the East line of said Southeast Quarter, 1159.51 feet to the point of beginning, said parcel being subject to a 50.0 foot wide public roadway easement along the East side thereof, and a 60.0 foot wide public roadway easement parallel with the South line of said Southeast Quarter along the South side thereof, said parcel contains 25.860 acres more or less; EXCEPTING THEREFROM tracts conveyed to the City of Waukee, Iowa by Warranty Deed dated October 13, 1997 and recorded October 27, 1997 in Record Book 850, page 202 as Document No. 08937; Warranty Deed dated January 3, 2005 and recorded January 11, 2005 in Record Book 2005, page 451 as Document No. 451; and Special Warranty Deed dated December 20, 2013 and recorded January 13, 2014 in Record Book 2014, page 467 as Document No. 467, all in the Office of the Dallas County, Iowa Recorder. (Parcel No. 1234400009); and, Lots 2 through 11, 14 through 17, 19 through 23 and Lots A, B and C of Westgate Business Park Plat 2 (Parcel No. 1234476001, 1234476002, 1234476007, 1234477002, 1234477003, 1234477006, 1234477007, 1234477008, 1234477011, 1234477012, 1234477013, 1234478004, 1234478005, 1234478006, 1234478013); and, Lot 3 of Westgate Business Park Plat 3 (Parcel No. 1234478012); and, Autoplex Condominiums, including Building A (Units 685, 687, 689, 691, 693, 695) and Building B (Units 697, 699, 701) (Parcel No. 1234479000, 1234479001, 1234479002, 1234479003, 1234479004, 1234479005, 1234479006, 1234479007, 1234479008, 1234479009); and, Lots 1, 2 and B of Legacy Pointe at Waukee Plat 1 (Parcel No. 1235210001, 1235210004, 1235210010); and, Lots 1 through 6 and Outlot Z of Legacy Pointe at Waukee Plat 7 (Parcel No. 1235210013, 1235210014, 1235210015, 1235210016, 1235210017, 1235210018, 1235210019); and, Lots 1 through 14, Street Lot A, Outlot V and Outlot W of Legacy Pointe at Waukee Plat 9 (Parcel No. 1235210020, 1235210021, 1235210022, 1235210023, 1235210024, 1235210025, FINAL 101221 - 17 - 1235210026, 1235210027, 1235210028, 1235210029, 1235210030, 1235210031, 1235210032, 1235210033, 1235210034, 1235210035, 1235210036); and, Lots 1 and 2 of the Subdivision of Lot 19 of Legacy Pointe at Waukee Plat 1 (Parcel No. 1235213002, 1235213003); and, Lots 11 and A of Legacy Pointe at Waukee Plat 4 (Parcel No. 1235213004, 1235258026); and, Lots A and D of Legacy Pointe at Waukee Plat 1 (Parcel No. 1235210007); and Lots 1 and A of Williams Pointe Plat 9 (Parcel No. 1235351003, 1235351005); and, Lots 1 and B of Prairie Bluff Plat 1 (Parcel No. 1608376008, 1608376001). Area to be removed from Waukee Urban Renewal Area (2001) Parcel 17-5 of the Plat of Survey recorded in Book 2016 Page 968, City of Waukee, Dallas County, Iowa (Parcel No. 1608300015) FINAL 101221 - 18 - FINAL 101221 - 19 - 01453439-1\21938-167