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HomeMy WebLinkAbout2007-07-23-Resolutions 07-137_Alices LC - Development Agr - Set PHRESOLUTION 07-137 RESOLUTION FIXING DATE FOR A MEETING ON THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH ALICE'S,L.C.,AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF WHEREAS,by Resolution No.00-189 approved and adopted on November 6, 2000 (as modified by Resolution No.00-226,approved on December 18,2000),the City Council has approved and adopted an urban renewal plan for the Urban Renewal Area designated as the "Waukee Urban Renewal Area,"as amended (the "Urban Renewal Plan");and WHEREAS,the City Council has heretofore adopted Ordinance No.2334,under which the taxes levied on the taxable property in the Waukee Urban Renewal Area shall be divided pursuant to Iowa Code section 403 .19;and WHEREAS,it is desirable that properties within the Urban Renewal Area be redeveloped as part of the overall redevelopment area covered by said Plan;and WHEREAS,the City has received a proposal from Alice's,L.c.(the "Developer"),in the form of a proposed Development Agreement (the "Agreement")by and between the City and the Developer,pursuant to which,among other things,the Developer would agree to construct certain public improvements relating to,and commercial development facilities,on certain real property (the "Property")located within the Waukee Urban Renewal Area as defmed and legally described in the Agreement,consisting of street pavement,sanitary sewer,water main,storm sewer, earthwork,street lighting,and miscellaneous improvements (the "Public Improvements"), as outlined more specifically in the proposed Agreement,along with commercial development including,but not limited to 80,000 square feet of retail commercial and/or office space rented or available for tenant occupancy (the "Project"),as outlined more specifically in the Agreement;and WHEREAS,the Agreement further proposes that,commencing with the 2009/2010 fiscal year and continuing through the 2020/2021 fiscal year (except as described in the Agreement),and contingent upon proof that Developer's obligations have been met and upon annual proof that the Developer and its successors have paid all ad valorem taxes owed with respect to the Property,the City assist in the Project by semi- annually rebating to the Developer an amount equal to 80%of the incremental taxes paid on the Property and received by the City into its Alice's LC TIF Sub-Account under Section 403.19 of the Iowa Code,the total of all Payments paid not to exceed a percentage of the actual costs of constructing the Project as certified to the City under the Agreement,or $3,300,000,whichever is less.All Payments shall cease when that amount has been paid or upon termination of the Agreement,whichever occurs first,under the terms and following satisfaction of the conditions set forth in the Agreement;and WHEREAS,Iowa Code Chapters l5A and 403 (the "Urban Renewal Law") authorize cities to make grants for economic development in furtherance of the objectives of an urban renewal project and to appropriate such funds and make such expenditures as may be necessary to cany out the purposes of said Chapters,and to levy taxes and assessments for such purposes;and WHEREAS,the Council has determined that the Agreement is in the best interests of the City and the residents thereof and that the performance by the City of its obligations thereunder is a public undertaking and purpose and in furtherance of the Plan and the Urban Renewal Law and,further,that the Agreement and the City's performance thereunder is in furtherance of appropriate economic development activities and objectives of the City within the meaning of Chapters l5A and 403 of the Iowa Code, taking into account the factors set forth therein;and WHEREAS,neither the Urban Renewal Law nor any other Code provision sets forth any procedural action required to be taken before said economic development activities can occur under the Agreement,and pursuant to Section 364.6 of the City Code ofIowa,it is deemed sufficient if the action hereinafter described be taken and the Clerk publish notice of the proposal and of the time and place of the meeting at which the Council proposes to take action thereon and to receive oral and/or written objections from any resident or property owner of said City to such action;and WHEREAS,pursuant to Section 403.9 of the Code ofIowa,before the City issues bonds or other obligations payable from tax increment,it must hold a public hearing following publication of notice as provided in Section 362.3. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE,IOWA: Section 1.That this Council meet in the Council Chambers,City Hall,230 Highway 6,Waukee,Iowa,at 7:00 o'clock P.M.,on the 6th day of August,2007,for the purpose of taking action on the matter of the proposal to enter into a Development Agreement with Alice's,L.c. Section 2.That the Clerk is hereby directed to cause at least one publication to be made of a notice of said meeting,in a legal newspaper,printed wholly in the English language,published at least once weekly,and having general circulation in said City,said publication to be not less than four (4)clear days nor more than twenty (20)days before the date of said public meeting. Section 3.The notice of the proposed action shall be in substantially the following form: NOTICE OF MEETING OF THE COUNCIL OF THE CITY OF WAUKEE,IOWA,ON THE MATTER OF THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT WITH ALICE'S,L.C.,AND THE HEARING THEREON I PUBLIC NOTICE is hereby given that the Council of the City of Waukee,Iowa,will hold a public hearing on the 6th day of August,2007,at 7:00 o'clock P.M.,in the Council Chambers,City Hall, 230 Highway 6,Waukee,Iowa,at which meeting the Council proposes to take additional action on the proposal to enter into a Development Agreement (the "Agreement")with Alice's,L.C.(the "Developer"). The Agreement would obligate the Developer to construct certain public improvements relating to,and conunercial development facilities,on certain real property (the "Property")located within the Waukee Urban Renewal Area as defined and legally described in the Agreement,consisting of street pavement,sanitary sewer,water main,storm sewer,earthwork,street lighting,and miscellaneous improvements (the "Public Improvements"),as outlined more specifically in the proposed Agreement, along with commercial development including,but not limited to 80,000 square feet of retail commercial and/or office space rented or available for tenant occupancy (the "Project"),as outlined more specifically in the Agreement,under the terms and following satisfaction of the conditions set forth in the Agreement. The Agreement would further obligate the City to,conunencing with the 2009/20 I 0 fiscal year and continuing through the 2020/2021 fiscal year (except as described in the Agreement),and contingent upon proof that Developer's obligations have been met and upon annual proof that the Developer and his successors have paid all ad valorem taxes owed with respect to the Property,assist in the Project by semi- annually rebating to the Developer an amount equal to 80%of the incremental taxes paid on the Property and received by the City into its Alice's LC TIP Sub-Account under Section 403.19 of the Iowa Code,the total of all Payments paid not to exceed a percentage of the actual costs of constructing the Project as certified to the City under the Agreement,or $3,300,000,whichever is less.All Payments shall cease when that amount has been paid or upon termination of the Agreement,whichever occurs first,under the terms and following satisfaction of the conditions set forth in the Agreement. A copy of the Agreement is on file for public inspection during regular business hours in the office ofthe City Clerk,City Hall,Waukee,Iowa. At the above meeting the Council shall receive oral or written objections from any resident or property owner of said City,to the proposal to enter into the Agreement with the Developer.After all objections have been received and considered,the Council will at this meeting or at any adjournment thereof,take additional action on the proposal or will abandon the proposal to authorize said Agreement. This notice is given by order of the City Council of Waukee,Iowa,as provided by Sections 362.3,364.6,and 403.9 of the City Code ofIowa. Dated this 23,d day ofJuly,2007. Jeffrey L.Kooistra City Clerk of Waukee,Iowa [End of Notice ] PASSED AND APPROVED this 23rd day of July,2007. ATTEST: ROLL CALL VOTE Donald L.Bailey,Jr. Isaiah McGee JeffV.Mertz Darlene Stanton Mike Watts AYE X X X X NAY ABSENT X