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HomeMy WebLinkAbout2022-11-21 Resolution 2022-485_Set Public Hearing Date, Development Agreement, Waukee Towne Center LLCRESOLUTION NO. 2022-485 RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH WAUKEE TOWNE CENTER, LLC, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS, by Resolution No. 19-402, adopted November 4, 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 Waukee Consolidated Urban Renewal Plan for the Waukee Consolidated Urban Renewal Area (the "Consolidated Urban Renewal Area") described therein, which Waukee Consolidated Urban Renewal Plan, as subsequently amended, is on file in the office of the Recorder of Dallas County; and WHEREAS, this Council proposes to consider, on November 21, 2022, whether certain areas located within the City are eligible and should be designated as another urban renewal area, to be known as the Towne Center Urban Renewal Area (the "Towne Center Urban Renewal Area") described in the proposed Towne Center Urban Renewal Plan; and WIIEREAS, it is desirable that properties within the Consolidated Urban Renewal Area and within the Towne Center Urban Renewal Area, if approved, be redeveloped as part of the overall redevelopment area covered, respectively, by the Waukee Consolidated Urban Renewal Plan and, if adopted, the "Towne Center Urban Renewal Plan; and WHEREAS, the City has received a proposal from Waukee Towne Center, 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 (as defined in the Agreement) on certain real property located within the Consolidated Urban Renewal Area and the Towne Center Urban Renewal Area as defined and legally described in the Agreement (the "Development Property"); and WHEREAS, the Agreement provides that the Minimum Improvements shall include: (1) at least 185,000 square feet of retail development, a 7.0 acre lake, drainage system, grading and foundation/pad for an amphitheater, a paved trail, and related site improvements on the Phase One Property and Outlot Y portion of the Development Property (collectively, the "Phase One Improvements"); and (2) at least 85,000 square feet of retail development with lifestyle amenities including the vertical component of the amphitheater, a water feature, outdoor seating, public art, ice rink, landscaping, playground, and related site improvements on the Phase Two Property and Outlot Y portion of the Development Property (collectively, the "Phase Two Improvements"); and WHEREAS, the Phase One Improvements and the Phase Two Improvements both include certain "Quality of Life Improvements" (as defined and described in the Agreement) to be constructed on the Outlot Y portion of the Development Property, which Outlot Y property the Developer is willing to transfer to the City under the terms of the Agreement; and WHEREAS, the Agreement proposes that the City will make up to thirteen (13) consecutive annual payments to Developer consisting of 75% of the Phase One Tax Increments collected pursuant to Section 403.19, Code of Iowa, generated by the construction of the Phase One Improvements on the Phase One Property pursuant to one schedule of payments (the "Phase One Economic Development Grants"), and up to thirteen (13) consecutive annual payments to Developer consisting of 75% of the Phase Two Tax Increments collected pursuant to Section 403.19, Code of Iowa, generated by the construction of the Phase Two Improvements on the Phase Two Property pursuant to a separate schedule of payments (the "Phase Two Economic Development Grants") (all such payments collectively referred to as the "Economic Development Grants"), under the terms and following satisfaction of the conditions set forth in the Agreement; and WHEREAS, the Agreement provides that the cumulative amount of the Economic Development Grants shall not exceed $21,900,000; and WHEREAS, the Agreement also proposes that the City will provide two separate Outlot Y Payments to Developer totaling $2,500,000, to be paid following the City's acquisition of Outlot Y, as improved by the Quality of Life Improvements, subject to the terms and conditions set forth in the Agreement; 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 Waukee Consolidated Urban Renewal Plan and, if adopted, the Towne Center Urban Renewal Plan and also in furtherance of 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 l 5A 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 December 5, 2022, for the purpose of taking action on the matter of the proposal to enter into a Development Agreement with Waukee Towne Center, 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 I 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 TOWNE CENTER, 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 December 5, 2022, 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 Towne Center, LLC (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 Waukee Consolidated Urban Renewal Area and the proposed Towne Center Urban Renewal Area as defined and legally described in the Agreement (the "Development Property"). The Agreement provides that the Minimum Improvements shall include: (1) at least 185,000 square feet of retail development, a 7.0 acre lake, drainage system, grading and foundation/pad for an amphitheater, a paved trail, and related site improvements on the Phase One Property and Outlot Y portion of the Development Property (collectively, the "Phase One Improvements"); and (2) at least 85,000 square feet of retail development with lifestyle amenities including the vertical component of the amphitheater, a water feature, outdoor seating, public art, ice rink, landscaping, playground, and related site improvements on the Phase Two Property and Outlot Y portion of the Development Property (collectively, the "Phase 'Two Improvements"). The Phase One Improvements and the Phase Two Improvements both include certain "Quality of Life Improvements" (as defined and described in the Agreement) to be constructed on the Outlot Y portion of the Development Property, which Oulot Y property the Developer is willing to transfer to the City under the terms of the Agreement. The Agreement proposes that the City will make up to thirteen (13) consecutive annual payments to Developer consisting of 75% of the Phase One Tax Increments from the Phase One Improvements on the Phase One Property, and up to thirteen (13) consecutive annual payments to Developer consisting of 75% of the Phase Two Tax Increments from the Phase Two Improvements on the Phase Two Property (collectively, the "Economic Development Grants"), under the terms and following satisfaction of the conditions set forth in the Agreement. Pursuant to the terms and conditions of the Agreement, the cumulative total for the Economic Development Grants shall not exceed $21,900,000. The Agreement also proposes that the City will provide two separate Outlot Y Payments to Developer totaling $2,500,000, to be paid following the City's acquisition of Outlot Y, as improved by the Quality of Life Improvements, subject to the terms and conditions set forth in the Agreement. 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 2 1 " day of November, 2022. Rebecca D. Schuett City Clerk, City of Waukee in the State of Iowa (End of Notice) PASSED AND APPROVED this 21" day of November, 2022. ATTEST: City Clerk RESULTS OF VOTE: AYE Anna Bergman Pierce X R. Charles Bottenberg Chris Crone X Larry R. Lyon X Ben Sinclair X Mayor NAY ABSENT hN ABSTAIN