HomeMy WebLinkAbout2016-11-21-Ordinance 2831_Urban Renewal Plan, Autumn RidgeORDINANCE NO.2831
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON
CERTAIN PROPERTY LOCATED WITHIN THE AUTUMN
RIDGE 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 AUTUMN RIDGE URBAN RENEWAL AREA (PLAT 1,
LOTS 7 AND 8 PARCEL)
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.15-351 passed and approved on
the 19'"day of October,2015,adopted an Urban Renewal Plan (the "Urban Renewal Plan")for
an urban renewal area known as the Autumn Ridge Urban Renewal Area (the "Urban Renewal
Area"),which Urban Renewal Area includes the lots and parcels located within the area legally
described as follows ("Plat 1,Lots 7 and 8 Parcel"):
LOTS 7 AND 8 OF AUTUMN RIDGE PLAT 1,AN OFFICIAL PLAT)
CITY OF WAUKEE,IOWA.
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 Plat 1,Lots 7 and 8 Parcel in the Urban Renewal
Area,as above described,in accordance with the provisions of Section 403.19 of the Code of
Iowa,as amended.Peyote:The Plat 1,Lots 7 and 8 Parcel is the only portion of the Urban
Renewal Area that will be included in this TIF Ordinance.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,it is likely that 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 Plat 1,Lots 7 and 8
Parcel 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 valueofthetaxablepropertyinthePlat1,Lots 7 and 8 Parcel 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,StateofIowa,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
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 Plat 1,Lots 7 and 8 Parcel 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 Plat1,Lots 7 and 8 Parcel of the Urban Renewal Area exceeds the total assessed value of the
taxable property in the Plat 1,Lots 7 and 8 Parcel 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 Plat 1,Lots 7 and 8 Parcel 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 thereonoftheCityofWaukee,State of Iowa,referred to in Section 3 hereof have been paid,all monies
thereafter received from taxes upon the taxable property in the Plat 1,Lots 7 and 8 Parcel 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 Plat I,Lots 7 and 8
Parcel 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 Plat I,Lots 7 and 8 Parcel 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 21"day of November,2016.
M or
ATTEST:
City Clerk