HomeMy WebLinkAbout2017-11-20-Ordinance 2864_Urban Renewal Plan, Southwest Business ParkORDINANCE NO.2864
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON ALL
PROPERTY LOCATED WITHIN THE SOUTHWEST
BUSINESS PARK 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,VAN METER
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 SOUTHWEST BUSINESS PARK
URBAN RENEWAL AREA (THE SOUTHWEST BUSINESS
PARK URBAN RENEWAL PLAN)
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.17-483 passed and approved on
the 16'"day of October,2017,adopted an Urban Renewal Plan (the "Urban Renewal Plan")for
an urban renewal area known as the Southwest Business Park Urban Renewal Area (the "Urban
Renewal Area"),which Urban Renewal Area includes the lots and parcels located within the area
legally described as follows:
DEED RECORDED IN BOOK 2017 PAGE 4888
LOT THREE (3)OF THE AUDITOR'S PLAT OF THAT PART OF THE
NORTHWEST QUARTER (Nw1/4)OF THE NORTHWEST QUARTER
(NW1/4)OF SECTION 17 IN TOWNSHIP 78 NORTH,OF RANGE 26 WEST
OF THE 5TH P.M.,DALLAS COUNTY,IOWA,EXCEPT COMMENCING AT
THE NW CORNER OF SEC.17-T78N-R26W OF THE 5TH P.M.,DALLAS
COUNTY,IOWA,THENCE S 00'00'658.43 FEET ALONG THE SECTION
LINE TO THE POINT OF BEGINNING,THENCE CONTINUING S 00'00'
87.17 FEET,THENCE S 89'12'E 382.70 FEET,THENCE S 06'12'E 130.00
FEET,THENCE S 84'35'E 225.61 FEET,THENCE N 02'55'W 30.62 FEET,
THENCE N 73'50'E 338.22 FEET,THENCE N 02'55'W 128.79 FEET,
THENCE N 73'50'E 400.92 FEET TO THE CENTERLINE OF A COUNTY
ROAD,THENCE N 00'50'E 75.00 FEET ALONG SAID CENTERLINE,
THENCE S 73'50'W 423.54 FEET,THENCE N 02'55'W 568.48 FEET TO THE
SOUTH RIGHT OF WAY LINE OF INTERSTATE NO.80,THENCE N
85'04'W 315.13 FEET ALONG SAID RIGHT OF WAY LINE,THENCE S
02'55'E 676.50 FEET,THENCE N 89'50'W 609.02 FEET TO THE POINT OF
BEGINNING;
PARCEL "A"OF THE SURVEY OF ALL OF LOT 4 AND PART OF LOT 3
OF THE AUDITOR'S PLAT OF THE NW 1/4 OF THE NW 1/4 OF SECTION
17,TOWNSHIP 78 NORTH,RANGE 26 WEST OF THE 5TH P.M.,ALL
BEING IN AND FORMING A PART OF THE CITY OF WAUKEE,DALLAS
COUNTY,IOWA,AS SHOWN IN BOOK 2004,PAGE 5051,IN THE OFFICE
OF THE RECORDER OF DALLAS COUNTY.IOWA.
INCLUDES PARCEL ¹1617100001,1617100027
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 of the 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,Van Meter 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 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 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 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 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 assessinent 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 dish icts 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 of the 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,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 Urban Renewal Area and the territory contained therein.
Section 7.This Ordinance shall be in effect afler its final passage,approval and
publication as provided by law.
PASSED AND APPROVED this 20'day of November,2017.
a or
ATTEST
City Clerk