HomeMy WebLinkAbout2007-07-23-Resolutions 07-135_Bailey - Development AgrRESOLUTION 07-135 IApprovingAgreementwithChrisBailey,and Authorizing Property Tax Rebate
Payments
WHEREAS,an agreement between the City of Waukee,Iowa (the "City")and Chris
Bailey has been prepared (the "Agreement"),pursuant to which Chris Bailey has agreed to
develop a commercial facility (the "Bailey Project")and the City has agreed to provide property
tax rebates for a period of five years in a maximum amount of $2,000,related to the City portion
of total property taxes levied against the Bailey Project;and
WHEREAS,this City Council,pursuant to Chapter 15A of the Code of Iowa,has
published notice,has held a public hearing on the Agreement on July 23,2007,and has
otherwise complied with statutory requirements for the approval of the Agreement;and
WHEREAS,Chapter 15A of the Code ofIowa ("Chapter 15A")declares that economic
development is a public purpose for which a City may provide grants,loans,tax incentives,
guarantees and other financial assistance to or for the benefit of private persons;and
WHEREAS,Chapter 15A requires that before public funds are used for grants,loans,tax
incentives or other financial assistance,a City Council must determine that a public purpose will
reasonably be accomplished by the spending or use of those funds;and
WHEREAS,Chapter 15A requires that in determining whether funds should be spent,a
City Council must consider any or all of a series of factors;
NOW,THEREFORE,It Is Resolved by the City Council of the City of Waukee,Iowa,as
follows:
Section 1.Pursuant to the factors listed in Chapter 15A,the Council hereby finds
that:
(a)The Bailey Project will add diversity and generate new opportunities for
the Waukee and Iowa economies;
(b)The Bailey Project will generate public gains and benefits,particularly in
the creation of new jobs,which are warranted in comparison to the amount of the
proposed property tax incentives.
Section 2.The Council further finds that a public purpose will reasonably be
accomplished by entering into the Agreement and providing the property tax rebates to Chris
Bailey.
Section 3.The Agreement is hereby approved and the Mayor and City Clerk are
hereby authorized and directed to execute and deliver the Agreement on behalf of the City,in
substantially the form and content in which the Agreement has been presented to this City
Council,and such officers are also authorized to make such changes,moclifications,additions or
deletions as they,with the advice of bond counsel,may believe to be necessary,and to take such
actions as may be necessary to carry out the provisions of the Agreement.
Section 4.All resolutions or parts thereof in conflict herewith are hereby repealed.
Passed and approved till,23milly ufJuly,2~~
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Attest:
ROLL CALL VOTE AYE NAY ABSENT
Donald L.Bailey,JI.X
Isaiah McGee X
JeffV.Mertz X
Darlene Stanton X
Mike Watts X