HomeMy WebLinkAbout2023-11-20 Ordinance 3096_Urban Renewal Plan, North Waukee Residential-2023 ParcelsORDINANCI? NO. 3096
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON
CERTAIN PROPERTY LOCATED WITHIN THE NORTH
WAUKEE RESIDENhIAL URBAN RENEWAL AREA, IN THE
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 INDEB"ITEDNESS, INCLUDING BONDS
ISSUED OR TO BE ISSUED, INCURRED BY THE CITY IN
CONNECTION WITH THE NORTH WAUKEE RESIDENTIAL
URBAN RENEWAL AREA (2023 ORDINANCE PARCELS)
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. 2020-429 passed and approved
on the 16"' day of November, 2020, adopted an Urban Renewal Plan (the "Urban Renewal Plan")
for an urban renewal area known as the North Waukee Residential Urban Renewal Area (the
"Urban Renewal Area"); and
WHEREAS, the City Council has previously adopted Ordinance No. 3012 to provide for
the division of taxes for certain lots and parcels (the "2021 Ordinance Parcels") within the North
Waukee Residential Urban Renewal Area; and
WHEREAS, the City Council has previously adopted Ordinance No. 3056 to provide for
the division of taxes for certain lots and parcels (the "2022 Ordinance Parcels") within the North
Waukee Residential Urban Renewal Area, and
WHEREAS, which Urban Renewal Area also includes the lots and parcels located within
the area legally described as follows ("2023 Ordinance Parcels"):
Lot 1 of Prairie Crossing Plat 8, an Official Plat, City of Waukee, Iowa, also
known as Bricktowne Prairie Crossing Condominiums including Building 7 Units
101 through 117, Units 201 through 218, and Units 301 through 318, Building 8
Units 101 through 117, Units 201 through 218, and Units 301 through 318,
Building 9 Units 101 through 117, Units 201 through 218, and Units 301 through
318 (11arcel No. 1227453303 through 1227453461)
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
W1 IEREAS, the City Council of the City of Waukee, State of Iowa, desires to provide for
the division of revenue from taxation on 2023 Ordinance Parcels 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: 2023 Ordinance Parcels is the only portion of the Urban Renewal Area that
will be included in this TIF Ordinance. The City has previously adopted a separate ordinance
which provides for the division of revenue with respect to other portions of the Urban Renewal
Area. Nothing in this Ordinance shall amend the other ordinances nor shall this Ordinance
impact the base value or division of revenue already established in the previously approved
ordinances. The City anticipates that as other parcels develop (increase in value) in the future,
the City will adopt a separate TIF ordinance(s) on other parcels/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 2023 Ordinance Parcels 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 2023 Ordinance Parcels of the Urban Renewal Area, as shown on the
assessment roll as of January 1, 2022, being January 1 of the calendar year preceding the
effective date of this Ordinance, 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 of the 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
Iowa Code Section 298.2 and taxes for the instructional support program of a school district
imposed pursuant to Iowa Code Section 257.19 (but in each case only to the extent required
under Iowa Code Section 403.19(2)); (ii) taxes for the payment of bonds and interest of each
taxing district; (iii) taxes imposed under Iowa Code Section 346.27(22) related to joint county -
city buildings; and (iv) any other exceptions under Iowa Code Section 403.19 shall be collected
against all taxable property within 2023 Ordinance Parcels of the Urban Renewal Area without
any limitation as hereinabove provided.
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Section 4. Unless or until the total assessed valuation of the taxable property in 2023
Ordinance Parcels of the Urban Renewal Area exceeds the total assessed value of the taxable
property in 2023 Ordinance Parcels 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 2023 Ordinance Parcels 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.
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 2023 Ordinance Parcels 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 of the Code of Iowa, as
amended, with respect to the division of taxes from property within 2023 Ordinance Parcels 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
of the Code of Iowa with reference to 2023 Ordinance Parcels 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 20th day of November, 2023.
ATTEST:
City Clerk
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Mayor
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