HomeMy WebLinkAbout2018-11-19-Ordinance 2911_Urban Renewal Plan, Gateway Economic Development Amendment 5-I-
ORDINANCE NO.2911
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON
CERTAIN PROPERTY LOCATED WITHIN THE GATEWAY
ECONOMIC DEVELOPMENT 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 INDEBTEDNESS,INCLUDING BONDS
ISSUED OR TO BE ISSUED,INCURRED BY THE CITY IN
CONNECTION WITH THE GATEWAY ECONOMIC
DEVELOPMENT URBAN RENEWAL AREA (2018
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.13-257,passed and approved
on the 21"day of October,2013,adopted the Gateway Economic Development Urban Renewal
Plan (the "Urban Renewal Plan")for an urban renewal area known as the Gateway Economic
Development Urban Renewal Area (the "Urban Renewal Area");and
WHEREAS,additional property was added to the Urban Renewal Area by Amendment
No.2 to the Urban Renewal Plan adopted by Resolution No.15-350 on October 19,2015;
Amendment No.3 to the Plan adopted by Resolution No.16-490 on November 21,2016;
Amendment No.4 to the Plan adopted by Resolution No.17-485 on October 16,2017;and
Amendment No.5 to the Plan adopted by Resolution No.18-414 on October 15,2018;and
WHEREAS,the Urban Renewal Area,as amended,includes the lots and parcels located
within the area legally described as follows ("2018 Ordinance Parcels"):
LOTS 2 AND 4 OF WAUKEE MARKET PLACE PLAT I,AN OFFICIAL
PLAT,CITY OF WAUKEE,IOWA (PARCEL ¹1234226002,1234226004);
AND,
LOT I AUTUMN RIDGE PLAT I,AN OFFICIAL PLAT,CITY OF WAUKEE,
IOWA (PARCEL ¹1235305002);AND,
PARCEL 17-164 OF LOT 2 OF AUTUMN RIDGE PLAT I,AS RECORDED
IN PLAT OF SURVEY IN BOOK 2017 PAGE 5251,WAUKEE,DALLAS
COUNTY,IOWA (PARCEL ¹1235306006);AND,
LOT 3 OF COVE AT KETTLESTONE PLAT I,AN OFFICIAL PLAT,CITY
OF WAUKEE,IOWA (PARCEL ¹1604226003);AND,
LOT I OF ASHWORTH SOUTH PLAT I,AN OFFICIAL PLAT,CITY OF
WAUKEE,IOWA (PARCEL ¹1609201001);AND,
LOT I OF STONE PRAIRIE PLAT 4,AN OFFICIAL PLAT,CITY OF
WAUKEE,IOWA (PARCEL ¹1605286002).
WHEREAS,expenditures and indebtedness are anticipated to be incurred by the City of
Waukee,State of Iowa,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 on the 2018 Ordinance Parcels in 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 2018 Ordinance Parcels is the only portion of the Urban
Renewal Area that will be included in this TIF Ordinance.The City has previously adopted
separate ordinances which provide 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 the 2018 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 the 2018 Ordinance Parcels 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 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 anywhere
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 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
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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 in
existence at the time this Ordinance becomes effective shall be collected against all taxable
property within the 2018 Ordinance Parcels 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 2018
Ordinance Parcels of the Urban Renewal Area exceeds the total assessed value of the taxable
property in the 2018 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 the 2018 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 the 2018 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 the 2018 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 the 2018 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 19'"day of November,201
harles Bottenberg,ayor Pro Tem
Attest:
Rebecca D.Schuett,City Clerk