HomeMy WebLinkAbout2016-11-21-Ordinance 2832_Urban Renewal Plan, Gateway Economic DevelopmentORDINANCE NO.2832
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 (2016
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 Gateway Economic Development Urban Renewal Plan,adopted by Resolution No.
15-350,passed and approved on October 19,2015;and
WHEREAS,the Urban Renewal Area,as amended,includes the lots and parcels located
within the Area legally described as follows ("2016 Ordinance Parcels"):
LOTS 1 THROUGH 5 AND OUTLOT Z OF WILLIAMS POINTE PLAT 15,AN
OFFICIAL PLAT&CITY OF WAUKEE,IOWA;AND
LOT I)LOT A AND OUTLOT Z OF OAKLEAF PLAT 1,AN OFFICIAL PLAT,
CITY OF WAUKEE,IOWA;and
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 2016 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 2016 Ordinance Parcels 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 2016 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 2016 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
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 2016 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 2016
Ordinance Parcels of the Urban Renewal Area exceeds the total assessed value of the taxable
property in the 2016 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 2016 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 2016 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 2016 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 2016 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 21"day of November,2016.
yor
ATTEST:
City Clerk
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