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