HomeMy WebLinkAbout2023-01-16 Ordinance 3064_Urban Renewal Plan, The Quarter CommercialORDINANCE NO. 3064
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIF,D AND COLLF,CTED EACH YEAR ON ALL
TAXABLE PROPERTY LOCATED WITHIN THF, QUARTER
COMMERCIAL URBAN RF,NEWAL AREA, IN 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 PAYMF,NT 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 QUARTER COMMERCIAI, URBAN RENEWAL AREA
(THE QUARTER COMMERCIAL URBAN RENEWAL
PLAN)
WI IEREAS, 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. 2022-535 passed and approved on
the 19`h day of December, 2022, adopted an Urban Renewal Plan (the "Urban Renewal Plan") for
an urban renewal area known as The Quarter Commercial Urban Renewal Area (the "Urban
Renewal Area"), which Urban Renewal Area includes the taxable lots and parcels located within
the area legally described as follows:
Lots 2-3 and 5-15, Outlot Y, and Outlot Z of KeeTown Loop Plat 1, an Official
Plat, now including and forming a part of the City of Waukee, Dallas County, Iowa;
and
Lots 1-3, KeeTown Loop Plat 2, and an Official Plat, now including and forming a
part of the City of Waukee, Dallas County, Iowa
[Note: The Urban Renewal Area includes additional lots and parcels forming non-taxable,
public road right-of-way that is not being inchaled in this Ordinance j, and
WHEREAS, expenditures and indebtedness are anticipated to be incurred by the City of
Waukee, State of Iowa, in the future 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 in the Urban Renewal Area, as above described, in
accordance with the provisions of Section 403.19, Code of Iowa, as amended.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
WAUKEE, STATE OF IOWA:
Section 1. That the taxes levied on the taxable property in 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 hereinafter 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 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 arc 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, 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 within the Urban Renewal
Area pursuant to the Urban Renewal Plan, except that (1) taxes for the regular and voter -approved
physical plant and equipment levy of a school district imposed pursuant to Section 298.2, Code of
Iowa, and taxes for the instructional support program of a school district imposed pursuant to
Section 257.19, Code of Iowa, (but in each case only to the extent required under Section
403.19(2), Code of Iowa); (ii) taxes for the payment of bonds and interest of each taxing district;
(iii) taxes imposed under Section 346.27(22), Code of Iowa, related to joint county -city buildings;
and (iv) any other exceptions under Section 403.19, Code of Iowa, shall be collected against all
taxable property within 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 Urban
Renewal Area exceeds the total assessed value of the taxable property in 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 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 Urban Renewal Area shall be paid
into the funds for the respective taxing districts in the same manner as taxes on all other property.
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, Code of Iowa, as amended,
with respect to the division of taxes from property within the Urban Renewal Area as described
above. In the event that any provision of this Ordinance shall be determined to be contrary to law,
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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, Code of Iowa, with reference to 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 16`h day of January, 2023.
IJ
Mayor
ATTEST:
City Clerk