HomeMy WebLinkAbout2023-07-10 Ordinance 3082_Urban Renewal Plan, Kettlestone Residential-Project 1 PropertyORDINANCE NO. 3082
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON
CERTAIN PROPERTY LOCATED WITHIN THE
KETTLF,STONE RESIDENTIAL URBAN RENEWAL 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 PAYMENT
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 KETTLESTONE RESIDENTIAL
URBAN RENEWAL AREA (PROJECT I PROPERTY)
WHEREAS, 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. 2023-228 passed and approved on
the 5`" day of June, 2023, adopted an Urban Renewal Plan (the "Urban Renewal Plan") for an urban
renewal area known as the Kettlestone Residential Urban Renewal Area (the "Urban Renewal
Area"), which Urban Renewal Area includes the lots and parcels located within the area legally
described as follows ("Project 1 Property"):
A PART OF PARCEL '22-120' AS SHOWN ON THE PLAT OF SURVEY
RECORDED IN BOOK 2022, PAGE 20744 IN THE CITY OF WAUKEE,
DALLAS COUNTY, IOWA AND MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID PARCEL '22-120';
THENCE SOUTH 00"27'41" WEST ALONG THE WESTERLY LINE OF SAID
PARCEL '22-120', A DISTANCE OF 90527 FEET TO THE POINT OF
BEGINNING; THENCE SOUTH 89°32'19" EAST, 412.02 FEET; THENCE
SOUTH 00029'35" WEST, 169.64 FEET; THENCE SOUTH 00°28'14" WEST,
686.59 FEET; THENCE NORTH 89°3219" WEST, 411.82 FEET TO SAID
WESTERLY LINE; THENCE NORTH 00027'41" EAST ALONG SAID
WESTERLY LINE, 856.23 FEET TO THE POINT OF BEGINNING AND
CONTAINING 8.10 ACRES (352.676 SQUARE FEET).
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 ofthe City of Waukee, State of Iowa, desires to provide for
the division of revenue from taxation on the Project I Property of the Urban Renewal Area, as
above described, in accordance with the provisions of Section 403.19 of the Code of Iowa, as
amended. [Note: The Project 1 Property are the only portion of the Urban Renewal Area that will
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be included in this TIF Ordinance. The City may adopt separate TIF ordinances on other project
areas within the Urban Renewal Area. Therefore, the various TIF ordinances in this Urban
Renewal Area will have different frozen bases and different expiration dates.]
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 Project 1 Property of 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 Project I Property of the Urban Renewal Area, as shown on the
assessment roll as of January I 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 are 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 (i) 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 Project 1 Property of 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 Project
1 Property of the Urban Renewal Area exceeds the total assessed value of the taxable property in
the Project 1 Property of 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
Project 1 Property of 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.
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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 Project 1 Property of 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 Project 1 Property of the Urban
Renewal Area as described above. In the event that any provision of this Ordinance shall be
determined to be contrary to law, 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 Project 1 Property of 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 10t' day of July, 2023.
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Mayor
ATTEST:
City Clerk