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HomeMy WebLinkAbout2007-08-06-Resolutions 07-145_Alices LC - Development AgrRESOLUTION NO.07-145 RESOLUTION APPROVING AND AUTHORlZING EXECUTION OF A DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF WAUKEE AND ALICE'S, L.C. 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 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 improvements relating to commercial 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 andlor 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 his 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%ofthe 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 Public Improvements 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 -1- 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 carry 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 403 and l5A ofthe Iowa Code taking into account the factors set forth in Chapter l5A,to wit: a.Businesses that add diversity to or generate new opportunities for the Iowa economy should be favored over those that do not. b.Development policies in the dispensing of the funds should attract,retain, or expand businesses that produce exports or import substitutes or which generate tourism-related activities. c.Development policies in the dispensing or use of the funds should be targeted toward businesses that generate public gains and benefits,which gains and benefits are warranted in comparison to the amount of the funds dispensed. d.Development policies in dispensing the funds should not be used to attract a business presently located within the state to relocate to another portion of the state unless the business is considering in good faith to relocate outside the state or unless the relocation is related to an expansion which will generate significant new job creation.Jobs created as a result of other jobs in similar Iowa businesses being displaced shall not be considered direct jobs for the purpose of dispensing funds . .and, WHEREAS,pursuant to notice published as required by law,this Council has held a public meeting and hearing upon the proposal to approve and authorize execution of the Agreement and has considered the extent of objections received from residents or -2- property owners as to said proposed Agreement;and,accordingly the following action is now considered to be in the best interests ofthe City and residents thereof. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WAUKEE,IOWA: Section 1.That the performance by the City of its obligations under the Agreement,including but not limited to making of grants to the Developer in connection with the Project under the terms set forth in the Agreement,be and is hereby declared to be 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 403 and l5A of the Iowa Code,taking into account the factors set forth therein. Section 2.That the form and content of the Agreement,the provisions of which are incorporated herein by reference,be and the same hereby are in all respects authorized,approved and confrrmed,and the Mayor and the Mayor Pro Tern and the City Clerk and the Deputy City Clerk be and they hereby are authorized,empowered and directed to execute,attest,seal and deliver the Agreement for and on behalf of the City in substantially the form and content now before this meeting,but with such changes, modifications,additions or deletions therein as shall be approved by such officers,and that from and after the execution and delivery of the Agreement,the Mayor and the Mayor Pro Tern and the City Clerk and the Deputy City Clerk are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Agreement as executed. PASSED AND APPROVED this 6th day of August,2007. ATTEST: -3- ROLL CALL VOTE Donald L.Bailey,JI. Isaiah McGee Jeff Mertz Darlene Stanton Mike Watts AYE X X X X NAY -4- ABSENT X