HomeMy WebLinkAbout2023-05-15 Resolution 2023-216_Set Public Hearing Date, Development Agreement, Kettlestone Central LC, Caliber Land Company LLC, Iowa Youth Athletic FoundationRESOLUTION NO. 2023-216
RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON
THE PROPOSAL TO ENTER INTO A DEVELOPMENT
AGREEMENT WITH CALIBER LAND COMPANY, LLC,
KETTLESTONE CENTRAL, L.C., AND IOWA YOUTH
ATIILETIC FOUNDATION, AND PROVIDING FOR
PUBLICATION OF NOTICE THEREOF
WHEREAS, this Council proposes to consider, on June 5, 2023, whether certain areas
located within the City are eligible and should be designated as urban renewal areas under Iowa
law, as further described in the proposed urban renewal plans for the proposed urban renewal areas,
including the (1) Kettlestone Phase 1 Commercial Urban Renewal Plan (the "Phase 1 Plan") for
the Kettlestone Phase I Commercial Urban Renewal Area (the "Phase 1 Urban Renewal Area")
described therein, (2) the Kettlestone Phase 2 Commercial Urban Renewal Plan (the "Phase 2
Plan") for the Kettlestone Phase 2 Commercial Urban Renewal Area (the "Phase 2 Urban Renewal
Area") described therein; (3) the Kettlestone Phase 3 Commercial Urban Renewal Plan (the "Phase
3 Plan") for the Kettlestone Phase 3 Commercial Urban Renewal Area (the "Phase 3 Urban
Renewal Area") described therein; and (4) the Kettlestone Phase 4 Commercial Urban Renewal
Plan (the "Phase 4 Plan") for the Kettlestone Phase 4 Commercial Urban Renewal Area (the "Phase
4 Urban Renewal Area") described therein; and
WHEREAS, if the Phase 1 Plan, Phase 2 Plan, Phase 3 Plan, and Phase 4 Plan (collectively,
the "Urban Renewal Plans") are adopted by this Council, then it is desirable that properties within
the respective urban renewal areas be redeveloped as proposed in the Urban Renewal Plans; and
WHEREAS, the City has received a proposal from Caliber Land Company, LLC
("Caliber"), Kettlestone Central, L.C. ("Kettlestone Central"), and Iowa Youth Athletic
Foundation ("IYAF"), in the form of a proposed Development Agreement (the "Agreement")
concerning the development of certain real property located within the Phase I Urban Renewal
Area, Phase 2 Urban Renewal Area, Phase 3 Urban Renewal Area, and Phase 4 Urban Renewal
Area; and
WHEREAS, pursuant to the Agreement, among other things, Caliber would agree to
construct certain "Phase 2 Commercial Improvements" and Kettlestone Central would agree to
construct certain "Phase 1 Commercial Improvements", "Phase 3 Commercial Improvements", and
"Phase 4 Commercial Improvements" and, further, IYAF would agree to construct certain "Arena
Improvements", all on distinct portions of the "Development Property" (as defined and legally
described in the Agreement); and
WHEREAS, the Agreement requires Caliber, Kettlestone Central, and IYAF to use
commercially reasonable efforts to attract commercial businesses employing individuals in their
operations to locate their business operations within the Phase 1 Commercial Improvements, Phase
2 Commercial Improvements, Phase 3 Commercial Improvements, and Phase 4 Commercial
Improvements; and
WHEREAS, the Agreement requires IYAF to operate the Arena Improvements, regularly
hold athletic competitions in the Arena Improvements, and grant the City access to use basketball
courts constructed as part of the Arena Improvements for a minimum number of hours at no cost
to the City, permitting the City to rent additional court time at a 50% discount; and
WHERF,AS, in consideration of the commitments by Caliber, Kettlestone Central, and
IYAF under the Agreement, the City would agree to provide Economic Development Grants to
IYAF, under the terms and conditions set forth in the Agreement, which Economic Development
Grants are proposed to include:
(a) Up to 20 consecutive annual payments consisting ol'85% of the Phase 1 Tax Increments
generated by construction of the Phase I Commercial Improvements and collected
pursuant to Iowa Code Section 403.19,
(b) Up to 20 consecutive annual payments consisting of 85% of the Phase 2 Tax Increments
generated by construction of the Phase 2 Commercial Improvements and collected
pursuant to Iowa Code Section 403.19;
(c) Up to 20 consecutive annual payments consisting of 85% of the Phase 3 Tax Increments
generated by construction of the Phase 3 Commercial Improvements and collected
pursuant to Iowa Code Section 403.19,
(d) Up to 20 consecutive annual payments consisting of 85% of the Phase 4 Tax Increments
generated by construction of the Phase 4 Commercial Improvements and collected
pursuant to Iowa Code Section 403.19; and
WHEREAS, the Agreement provides that the cumulative total for all Economic
Development Grants payments shall not to exceed the lesser of S39,487,500, or the amount accrued
under the formula outlined in the proposed Agreement, under the terms and following satisfaction
of the 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 proposed Urban Renewal Plans and 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 15A 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 June 5, 2023, for the purpose of taking action on the matter
of the proposal to enter into a Development Agreement with Caliber Land Company, LLC,
Kettlestone Central, L.C., and Iowa Youth Athletic Foundation.
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 3. 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 INTER INTO A
DEVELOPMENT AGREEMENT WITH CALIBER LAND
COMPANY, LLC, KETTLESTONE CENTRAL, L.C., AND
IOWA YOUTH ATHLETIC FOUNDATION, 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 June 5, 2023, 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 Caliber Land
Company, LLC (the "Caliber"), Kettlestone Central, L.C. (the "Kettlestone Central"), and Iowa
Youth Athletic Foundation (the "IYAF").
The Agreement would obligate Caliber to construct certain "Phase 2 Commercial
Improvements"; Kettlestone Central to construct certain "Phase I Commercial Improvements",
"Phase 3 Commercial Improvements", and "Phase 4 Commercial Improvements"; and IYAF to
construct certain "Arena Improvements" on certain real property within four proposed urban
renewal areas within the City (planned to be considered for adoption on June 5, 2023).
The Agreement would require Caliber, Kettlestone Central, and IYAF to use commercially
reasonable efforts to attract commercial businesses employing individuals in their operations to
locate their business operations within the Phase I Commercial Improvements, Phase 2
Commercial Improvements, Phase 3 Commercial Improvements, and Phase 4 Commercial
Improvements. Further, the Agreement would require IYAF to operate the Arena Improvements,
regularly hold athletic competitions in the Arena Improvements, and grant the City access to use
basketball courts constructed as part of the Arena Improvements for a minimum number of hours
at no cost to the City, permitting the City to rent additional court time at a 50% discount.
In exchange for these obligations, the Agreement provides that the City would make
Economic Development Grants to IYAF, using incremental tax revenues from the commercial
improvements collected pursuant to Iowa Code Section 403.19, under the terms and conditions set
forth in the Agreement, including:
(a) Up to 20 consecutive annual payments consisting of 85% of the Phase 1 "Fax Increments
generated by construction of the Phase I Commercial Improvements.
(b) Up to 20 consecutive annual payments consisting of 85% of the Phase 2 Tax Increments
generated by construction of the Phase 2 Commercial Improvements.
(c) Up to 20 consecutive annual payments consisting of 85% of the Phase 3 Tax Increments
generated by construction of the Phase 3 Commercial Improvements.
(d) Up to 20 consecutive annual payments consisting of 85% of the Phase 4 Tax Increments
generated by construction of the Phase 4 Commercial Improvements.
The cumulative total for all such payments shall not to exceed the lesser of $39,487,500,
or the amount accrued under the formulas outlined in the proposed Agreement, under the terms
and following satisfaction of the 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. 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 15"' day of May, 2023.
Rebecca D. Schuett
City Clerk, City of Waukee in the State of Iowa
(End of Notice)
PASSED AND APPROVED this 151" day of May, 2023.
ATTEST:
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City Clerk
RESULTS OF VOTE:
AYE
Anna Bergman Pierce
X
R. Charles Bottenberg
X
Chris Crone
Larry R. Lyon
X
Ben Sinclair
X
Mayor
NAY ABSENT
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ABSTAIN