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Dubuque Industrial Center West - Urban Renewal Ordinance Copyrighted May 21 , 2018 City of Dubuque Action Items # 3. ITEM TITLE: Dubuque Industrial Center West Urban Renewal Ordinance 2018.2 SUMMARY: City Manager recommending approval of an ordinance amending the Tax Increment Ordinance for the Dubuque Industrial Center Economic Development District as the DistricYs boundaries were amended by Version 2018.1 and Version 2018.2 of the Amended and Restated Urban Renewal Plan. ORDINANCE Amending Ordinance No. 49-16, Previously Amended, providing that general property taxes levied and collected each year on all property located within the Amended and Restated Dubuque Industrial Center Economic Development District Urban Renewal Area of the City of Dubuque, County of Dubuque, State of lowa, by and for the benefit of the State of lowa, City of Dubuque, County of Dubuque, Dubuque 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 said City in connection with the Amended and Restated Dubuque Industrial Center Economic Development District Urban Renewal Redevelopment Project SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Motion B; Motion A ATTACHMENTS: Description Type DICW Amending Tax Increment Ordinance-NNM Memo City Manager Memo Staff Memo Staff Memo Urban Renewal Plan Supporting Documentation Attachment A- area map Supporting Documentation Attachment B1 - Ebsting Land Use Supporting Documentation Attachment B2 - Proposed Land Use Supporting Documentation Attachment C - Bonded Indebtedness Supporting Documentation Attachment D - Legal Description Supporting Documentation Taxing Body Consultation Minutes Supporting Documentation Ordinance Ordinance Suggested Nbtion Wording Supporting Documentation THE CITY OF Dubuque � AIFA�erlwGh UB E '�� III► Masterpiece on the Mississippi Z°°'�w'2 7A13 2017 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Amending Tax Increment Ordinance for the Dubuque Industrial Center Economic Development District, as amended by Version 2018.1 and Version 2018.2 of the Amended and Restated Plan DATE: May 14, 2018 Economic Development Director Maurice Jones recommends City Council approval of an ordinance amending the Tax Increment Ordinance for the Dubuque Industrial Center Economic Development District as the DistricYs boundaries were amended by Version 2018.1 and Version 2018.2 of the Amended and Restated Urban Renewal Plan. The proposed amendment would remove from the TIF ordinance area that portion of the District that was removed from Subarea C of the District by Version 2018.1 , and then re- add that portion of property to the TIF ordinance area as Subarea K of the District, which was created by Version 2018.2 of the Amended and Restated Urban Renewal Plan. The primary goal of Version 2018.1 of the Amended and Restated Plan is to add additional project details, including a manufacturing facility project undertaken by Flexsteel Industries, Inc. within the District, provide information about buildings to be constructed and financed by the County within the District, and remove property from Subarea C of the District. The primary goal of Version 2018.2 of the Amended and Restated Plan is to add additional project details, including a new office building project undertaken by Medline Industries, Inc. within the District, and create Subarea K, which would be formed from property removed from Subarea C of the District by Version 2018.1 of the Amended and Restated Plan. I concur with the recommendation and respectfully request Mayor and City Council approval. �� �� ��� Mic ael C. Van Milligen �� � MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Teri Goodmann, Assistant City Manager Cori Burbach, Assistant City Manager Maurice Jones, Economic Development Director 2 Dubuque Economic Development Department THE CITY OF 50 West 13t"Street All-AmericaCitY Dubuque,lowa 52001-4864 1 ' Office(563)589-4393 TTY(563)690-6678 ° http://www.cityofdubuque.org Masterpiece on the Mississippi 200,.2012•2013 TO: Michael Van Milligen, City Manager FROM: Maurice Jones, Economic Development Director SUBJECT: Amending Tax Increment Ordinance for the Dubuque Industrial Center Economic Development District, as amended by Version 2018.1 and Version 2018.2 of the Amended and Restated Plan DATE: May 14, 2018 INTRODUCTION This memorandum transmits for City Council review and adoption an ordinance amending the tax increment ordinance for the Dubuque Industrial Center Economic Development District ("District") as the District's boundaries were amended by Version 2018.1 and Version 2018.2 of the Amended and Restated Urban Renewal Plan. The proposed ordinance was reviewed by the City Attorney's Office and City's bond counsel and is attached to this memo. The proposed amendment would remove from the TIF ordinance area that portion of the District that was removed from Subarea C of the District by Version 2018.1, and then re- add that portion of property to the TIF ordinance area as Subarea K of the District, which was created by Version 2018.2 of the Amended and Restated Urban Renewal Plan. BAC KG RO U N D On April 16, 2018, a Resolution of Necessity was adopted finding that proposed changes to the District's boundaries are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning and local community objectives. On April 26, 2018, a Consultation was conducted with the affected taxing entities as required by Chapter 403.5 of the lowa Code, providing an opportunity to discuss, question, or object to the findings in these documents. Prior to the meeting, the taxing entities were mailed copies of the Amended and Restated Urban Renewal Plan and the Notice of Public Hearing. No representatives were in attendance. On April 11 , 2018 the notice of public hearing was published to allow for the appropriate publication requirements. Assuming that the City Council approves the Amended and Restated Plan following the public hearing, Council action to amend the tax increment ordinance for the District would be appropriate. DISCUSSION The primary goal of Version 2018.1 of the Amended and Restated Plan is to add additional project details, including a manufacturing facility project undertaken by Flexsteel Industries, Inc. within the District, provide information about buildings to be constructed and financed by the County within the District, and remove property from Subarea C of the District. The primary goal of Version 2018.2 of the Amended and Restated Plan is to add additional project details, including a new office building project undertaken by Medline Industries, Inc. within the District, and create Subarea K, which would be formed from property removed from Subarea C of the District by Version 2018.1 of the Amended and Restated Plan. In order to reflect the changes to the DistricYs boundaries and Subareas made by Version 2018.1 and Version 2018.2, the TIF ordinance area boundaries must also be amended. The proposed ordinance reflects the removal of value from Subarea C (due to the removal of property from the District by adoption of Version 2018.1) and the creation of a new Subarea K, with a new base value (due to the addition of property to the District by adoption of Version 2018.2). The ordinance continues to authorize the City to maintain a special fund for the collection of a portion of the property tax revenues generated by new development occurring the District. All taxable property that remains located in the District will continue to pay property taxes based upon the current tax levies and assessment valuations. Tax revenues collected in excess of the base amounts in each Subarea will be used to assist in financing future development projects within the District, including both public and private development. RECOMMENDATION/ ACTION STEP Following City Council approval of Version 2018.1 and Version 2018.2 of the Amended and Restated Plan, I recommend that the City Council approve the ordinance attached hereto for the Dubuque Industrial Center Economic Development District. Tax increment financing is an important tool for economic development and will be used to assist future public and private development efforts. Prepared by Jill Connors. Economic Development, 50 W. 13th St., Dubuque, IA 52001, 563-589-4393 Return to Kevin Firnstahl, City Clerk, 50 W. 13'h St., Dubuque, IA 52001, 563-589-4100 ORDINANCE NO. 18-18 AMENDING ORDINANCE NO. 49-16, PREVIOUSLY AMENDED, PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE AMENDED AND RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL AREA OF THE CITY OF DUBUQUE, COUNTY OF DUBUQUE, STATE OF IOWA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF DUBUQUE, COUNTY OF DUBUQUE, DUBUQUE 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 SAID CITY IN CONNECTION WITH THE AMENDED AND RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL REDEVELOPMENT PROJECT WHEREAS, the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District (the "District") described in Resolution No. 130-88 was adopted on May 2, 1988 and was thereafter amended and restated by Resolution No. 484-90 on December 17, 1990, Resolution No. 142-97 on April 7, 1997, Resolution No. 478-97 on November 17, 1997, Resolution No. 15-08 on January 7, 2008, Resolution No. 101-08 on March 17, 2008, Resolution No. 109-08 on April 7, 2008, Resolution No. 87-11 on March 7, 2011, Resolution No. 171-13 on June 3, 2013, Resolution No. 197-15 on June 1, 2015, Resolution No. 309-15 on September 8, 2015, Resolution No. 132-16 on September 19, 2016, and Resolution No. 157-18 and Resolution No. 158-18 on May 21, 2018 (as amended and restated, the "Urban Renewal Plan" or "Amended and Restated Urban Renewal Plan"); and WHEREAS, the City Council of the City of Dubuque, Iowa originally provided for the division of taxes pursuant to Section 403.19 of the Code of Iowa within the District in Ordinance No. 26-88 passed and approved on May 2, 1988 and thereafter amended and restated by Ordinance No. 63-88 on December 5, 1988, by Ordinance No. 66-97 on November 17, 1997, by Ordinance No. 70-08 on October 20, 2008, by Ordinance No. 10-14 on February 3, 2014, by Ordinance No. 39-15 on June 1, 2015, by Ordinance No. 55-15 on September 8, 2015, and by Ordinance No. 49-16 on September 19, 2016; and WHEREAS, indebtedness has been incurred by the City, and additional indebtedness is anticipated to be incurred in the future, to finance urban renewal project activities within the District, and the continuing needs of redevelopment within the District are such as to require the continued application of the incremental tax resources of the District; and WHEREAS, the following enactment is necessary to accomplish the objectives described in the premises. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, THAT: Ordinance Number 49-16 is hereby amended to read as follows: Section 1: For purposes of this Ordinance, the following terms shall have the following meanings: (a) Original Project Area means that portion of the City of Dubuque, Iowa described in the Urban Renewal Plan for the District approved by Resolution No. 130-88 on May 2, 1988, and subsequently amended by Resolution No. 484-90 on December 17, 1990, which Original Project Area includes the lots and parcels located within the area now legally described as follows: All of Dubuque Industrial Center Eighth Addition; and All of Lot 1 Dubuque Industrial Center 13th Addition; and Lot 2 Dubuque Industrial Center 13th Addition; and Lot 1-2-2 Dubuque Industrial Center Fifth Addition; and Lot 1 Dubuque Industrial Center Fifth Addition; and Lot 1 Dubuque Industrial Center 11th Addition; and Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and Lot 1-3 Dubuque Industrial Center 12th Addition; and Lot 1 of lot 3 of final plat of lot 1 of Dubuque Industrial Center First Addition; and Lot 1 Dubuque Industrial Center 10th Addition; and Lot 2-3 Dubuque Industrial Center 12th Addition; and Lots 1 & 2 of final plat of lot 1 of Dubuque Industrial Center First Addition; and Lot 1 Dubuque Industrial Center 12th Addition; and Lot 2 Dubuque Industrial Center Ninth Addition; and Lot 2 Dubuque Industrial Center 12th Addition; and Lot 2-2 Dubuque Industrial Center Sixth Addition; and Lot 3 Dubuque Industrial Center Ninth Addition; and 2 Lot 1 Dubuque Industrial Center Sixth Addition; and Lot 2 of 2 Dubuque Industrial Center 7th Addition; and Lot 2-1 Walter Addition; and Lot 2-1 Walter Addition; and And all adjoining public right-of-way, all in the City of Dubuque, Dubuque County, Iowa. The Original Project Area is referred to as "Subarea A" in the Urban Renewal Plan hereinafter described. (b) Subarea B means that portion of the City of Dubuque, Iowa described as Subarea B in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 478-97 on November 17, 1997, and subsequently amended by Resolution No. 15-08 on January 7, 2008, which Subarea B includes the lots and parcels located within the area legally described as follows: Lots 1, 3, 4, 1 of 5, 6 and H of Dubuque Industrial Center West as originally platted; and Lots 1, 2, 3, 4, 5, 6, 7, 8, and C of Dubuque Industrial Center West 2nd Addition as originally platted; and Lots 1, 2, 3, 4, B, and C of Dubuque Industrial Center West 4th Addition as originally platted; and Lots 1 of 1, 1 of 2, 2 of 2, 1 of 3, 2 of 3, 1 of 5, A, C, and D of Dubuque Industrial Center West 5th Addition as originally platted; and Lots 1, 2, and A of Dubuque Industrial Center West 6th Addition as originally platted; and Lots 1, 1 of 2, and 2 of 2 of Dubuque Industrial Center West 7th Addition as originally platted; and Lot 2 of 1 of the Southwest Quarter of the Southwest Quarter and Lot 2 of 1 of the Southeast Quarter of the Southwest Quarter all in Section 30, Township 89 North, Range 2 East, 5th Principal Meridian as originally platted; and and all that part of a 100 -foot -wide strip of the Chicago Central Pacific Railroad right-of-way Tying in the SE 1/4 of Section 30, the SE 1/4 of the SW 1/4 of Section 30, the NW 1/4 of Section 31, and the NE 1/4 of Section 31 all in T89N, R2E, of the 5th P.M. Dubuque County, Iowa, the centerline of which is more particularly described as follows: beginning at a point of intersection with the easterly line of the SE 1/4 of Section 30, T89N, R2E, of the 5th P.M., thence southwesterly along the centerline of said railroad 2,700 feet, more or less a point of intersection with the westerly line of the SE 1/4 of said Section 30; thence southwesterly continuing along said centerline 845 feet, more or less, to a point where the railroad right-of-way widens to 200 feet, said point being the terminus of this description; and all that part of a 100 -foot -wide strip of the Chicago Central Pacific Railroad right-of-way lying in the Balance of Lot 1 of 1 of the Southwest Quarter of 3 the Southwest Quarter in Section 29, Township 89 North, Range 2 East, 5th Principal Meridian; and any adjoining public street right-of-way all in the City of Dubuque, Dubuque County, Iowa. (c) Subarea C means that portion of the City of Dubuque, Iowa described as Subarea C in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 101-08 on March 17, 2008, which Subarea C includes the lots and parcels located within the area legally described as follows: Lots 1 and 2 of Dubuque Industrial Center North Second Addition; and Lots 2, 3, C and A of Dubuque Industrial Center North First Addition, excepting that Part of said Lot A originally platted as Lot 2 of the SW 1/4 of the NW 1/4 of Sec. 30, T89N, R2E of the 5th PM; and and any adjoining public street right-of-way, all in the City of Dubuque, Dubuque County, Iowa, EXCEPT those lots and parcels now forming Subarea K. (d) Subarea D means that portion of the City of Dubuque, Iowa described as Subarea D in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 109-08 on April 7, 2008, which Subarea D includes the lots and parcels located within the area legally described as follows: Lots 1, 2, and B and all of the right of way of Chavenelle Court in Dubuque Industrial Center West 8th Addition in the City of Dubuque, Dubuque County, Iowa. (e) Subarea E means that portion of the City of Dubuque, Iowa described as Subarea E in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 87-11 on March 7, 2011, which Subarea E includes the lots and parcels located within the area legally described as follows: All of Lot 1 of 1 and Lot 1 of 2 of the South Fork Subdivision No. 1 as originally platted, including any adjoining public street right-of-way to said lots, all in the City of Dubuque, Dubuque County, Iowa, and; All of Seippel Road right of way from the north boundary line of Lot 1 of 1 of South Fork Subdivision No. 1 in the City of Dubuque, to the south boundary lines of Lot H of Dubuque Industrial Center West and Lot 1 of Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, including crossings at the intersections of Old Highway Road and Chicago Central & Pacific Railroad rights-of-way. (f) Subarea F means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea F in the Amended and Restated Urban 4 Renewal Plan for the District approved by Resolution No. 197-15 on June 1, 2015, which Subarea F includes the lots and parcels located within the area legally described as follows: Lot one (1) of Graf Farm Subdivision #2, Dubuque County, Iowa, according to the recorded plat thereof; Lot 1 of Lot 1 of Lot 1 of Lot 1 of West One-half of Northeast One-quarter, Section 25, Township 89 North, Range 1 East of the 5th Principal Meridian, in Center Township, Dubuque County, Iowa; Lot 2 in "W.A. Norman Place" in Section 25, Center Township, Dubuque County, Iowa, according to the plat thereof; and The NW 1/4 of the SE 1/4 of Section 25, Township 89 North, Range 1 East of the 5th P.M., in Center Township, Dubuque County, Iowa. (g) Subarea G means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea G in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 309-15 on September 8, 2015, which Subarea G includes the lots and parcels located within the area legally described as follows: The South one-half of the Northwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Lot 1 of Lot 1 of the Northwest Quarter of the Northwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Lot 2 of McFadden Farm Place #2, in the City of Dubuque, Iowa. Lot 2 of McFadden Farm Place, in the City of Dubuque, Iowa. Lot A of Lot 1 of 1 of the Southwest Quarter of the Southwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Lot A of Lot 1 of 1 of the Northwest Quarter of the Southwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. All in the City of Dubuque, Dubuque County, Iowa. (h) Subarea H means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea H in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 332-16 on September 19, 2016, which Subarea H includes the lots and parcels located within the area legally described as follows: Lot 1 of the Northeast'/ of the Northeast 1/4, and Lot 2 of Lot 1 of Lot 1 of Lot 2 of the Northeast'/ of the Northeast 1/4, of Section 30, in Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. 5 (i) Subarea I means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea I in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 332-16 on September 19, 2016, which Subarea I includes the lots and parcels located within the area legally described as follows: Lot 2 Seippel Road Place #2, Dubuque County, Iowa. Lot 2-1-1 of the Southeast Quarter of the Southeast Quarter of Section 25, Township 89 North, Range 2 East of the 5th Principal Meridian, Dubuque County, Iowa (j) Subarea J means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea J in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 332-16 on September 19, 2016, which Subarea J includes the lots and parcels located within the area legally described as follows: Lot 2 Julien Care Place, Dubuque County, Iowa. Lot 3 Julien Care Place, Dubuque County, Iowa Lot 2-1 Julien Care Place, Dubuque County, Iowa (k) Subarea K means that portion of the City of Dubuque, Iowa, removed from Subarea C of the District by Version 2018.1 of the Amended and Restated Plan for the District approved by Resolution No. 157-18, and added to the District by Version 2018.2 of the Amended and Restated Plan for the District approved by Resolution No. 158-18 as Subarea K, all on May 21, 2018, which Subarea K includes the lots and parcels located within the area legally described as follows: Lot 1 of Dubuque Industrial Center North Third Addition, in the City of Dubuque, Iowa. (1) Amended Project Area means that portion of the City of Dubuque, Iowa and Dubuque County included within the Original Project Area, Subarea B, Subarea C (except those lots and parcels now forming Subarea K), Subarea D, Subarea E, Subarea F, Subarea G, Subarea H, Subarea I, Subarea J, and Subarea K, each as described in this Section. Section 2: The taxes levied on the taxable property in the Amended Project Area, and each subarea thereof, legally described in Section 1 hereof, by and for the benefit of the State of Iowa, City of Dubuque, County of Dubuque, Dubuque 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 3: As to the Original Project Area, 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 6 districts taxing property in the Original Project Area upon the total sum of the assessed value of the taxable property in the Original Project Area as shown on the assessment roll as of January 1, 1987, being the first day of the calendar year preceding the effective date of Ordinance No. 26-88, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid. The taxes so determined shall be referred herein as the "base period taxes" for such Subarea. As to Subarea B, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1996, being the assessment roll applicable to property in such Subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 66-97. As to Subarea C (except the Tots and parcels now forming Subarea K), base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2007, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 70-08, and base values shall be reduced due to the removal of area from Subarea C. As to Subarea D, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2007, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 70-08. As to Subarea E, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2013, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No.10-14. As to Subarea F, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2014, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 39-15. As to Subarea G, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2014, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 55-15. As to Subarea H, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2015, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 49-16. 7 As to Subarea I, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2015, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 49-16. As to Subarea J, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2015, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 49-16. As to Subarea K, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2017, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of this Ordinance No. 18-18. Section 4: That portion of the taxes each year in excess of the base period taxes for the Amended Project Area, determined for each sub -area thereof as provided in Section 3 of this Ordinance, shall be allocated to and when collected be paid into the special tax increment fund previously established by the City of Dubuque to pay the principal of and interest on loans, monies advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Section 403.9 or Section 403.12 of the Code of Iowa, incurred by the City of Dubuque, Iowa to finance or refinance, in whole or in part, urban renewal projects undertaken within the Amended Project Area pursuant to the Urban Renewal Plan, except that taxes for the regular and voter -approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 of the Code of Iowa and taxes for the instructional support program of a school district imposed pursuant to Section 257.19 (but in each case only to the extent required under Section 403.19(2)), taxes for the payment of bonds and interest of each taxing district, and taxes imposed under Section 346.77 (22) related to joint county -city buildings, shall be collected against all taxable property within the Amended Project Area without any limitation as hereinabove provided. Section 5: Unless or until the total assessed valuation of the taxable property in the subareas of the Amended Project Area exceeds the total assessed value of the taxable property in said subareas shown by the assessment rolls referred to in Section 3 of this Ordinance, all of the taxes levied and collected upon the taxable property in the Amended Project 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 6: At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Dubuque referred to in Section 4 hereof have been paid, all monies thereafter received from taxes upon the taxable property in the Amended Project Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. 8 Section 7: 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 continue the division of taxes from taxable property in the Amended Project Area under the provisions of Section 403.19 of the Code of Iowa, as authorized in Ordinance No. 49-16. 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 Amended Project Area and the subareas contained therein. Section 8: This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Attest: Passed and approved this 21st day of May 2018. Ke n S. Firnstaiil, City Clerk Read first time: May 21, 2018 Passed and approved: May 21, 2018 Published: May 25, 2018 9 Roy Buol, Mayor Prepared by: Return to: Jill Connors, City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563) 589-4393 Kevin S. Firnstahl, City of Dubuque, 50 W. 13th Street, Dubuque, IA 52001 (563) 589-4121 AMENDED and RESTATED URBAN RENEWAL PLAN Dubuque Industrial Center Economic Development District City of Dubuque, Iowa This Amended and Restated Urban Renewal Plan provides for the continued development of the Dubuque Industrial Center Economic Development District, originally established by Resolution 130-88 of the City Council of the City of Dubuque, Iowa on May 2, 1988 and thereafter amended and restated by Resolution 484-90 on December 17, 1990, Resolution 142-97 on April 7, 1997, Resolution 478-97 on November 17, 1997, Resolution 15-08 on January 7, 2008, Resolution 101-08 on March 17, 2008, Resolution 109-08 on April 7, 2008, Resolution 87-11 on March 7, 2011, Resolution 171-13 on June 3, 2013, Resolution 197-15 on June 1, 2015, Resolution 309-15 on September 8, 2015, Resolution 332-16 on September 19, 2016, Resolution 157-18 and Resolution No. 158-18 on May 21, 2018. Prepared by the Economic Development Department. Version 2018.2 TABLE OF CONTENTS A. INTRODUCTION 3 B. OBJECTIVES 4 C. DISTRICT BOUNDARIES 4 D. PUBLIC PURPOSE ACTIVITIES 5 E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS 7 F. LAND ACQUISITION AND DISPOSITION 8 G. FINANCING ACTIVITIES 9 H. STATE AND LOCAL REQUIREMENTS 11 I. DURATION OF APPROVED URBAN RENEWAL PLAN 11 J. SEVERABILITY 12 K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN 12 L. ATTACHMENTS 12 2 AMENDED and RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL PLAN City of Dubuque, Iowa A. INTRODUCTION This AMENDED and RESTATED URBAN RENEWAL PLAN (the "Plan") has been prepared to provide for the further development and redevelopment of the DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT (the "District") first established by the City of Dubuque on May 2, 1988. Its intent is to stimulate economic development activities within the expanded District through the commitment of public actions as specified herein. To achieve this objective, the City of Dubuque shall undertake the urban renewal actions specified in this Plan, pursuant to the powers granted to it under Chapter 403 of the Iowa Code, Urban Renewal Law. This Plan is an amendment and restatement of the Dubuque Industrial Center Economic Development District Urban Renewal Plan adopted by Resolution 130-88 of the City Council of the City of Dubuque, Iowa on May 2, 1988 and subsequently amended by Resolution 484-90 on December 17, 1990, Resolution 142-97 on April 7, 1997, Resolution 478-97 on November 17, 1997, Resolution 15-08 on January 7, 2008, Resolution 101-08 on March 17, 2008, Resolution 109-08 on April 7, 2008, Resolution 87-11 on March 7, 2011, Resolution 171-13 on June 3, 2013, Resolution 197-15 on June 1, 2015 Resolution 309-15 on September 8, 2015, Resolution 332-16 on September 19, 2016, and Resolution 158-18 on May 21, 2018. This Plan shall serve as a new urban renewal plan for the District described herein. The division of taxation authorized by Section 403.19 and the separation of incremental taxes as defined in Section 403.19(2) have been implemented in the existing area of the District (the different areas of the District are hereinafter referred to as Subareas). Under the terms of this Plan, the tax increment mechanism shall continue in the existing Subareas and shall be implemented within a new Subarea being added to the District. Incremental taxes shall continue to be determined separately with respect to each of the Subareas comprising the District, and when collected shall be applied, subject to such liens and priorities as may exist or be from time to time provided, with respect to the Amended and Restated Dubuque Industrial Center Economic Development District, as so amended. 3 B. OBJECTIVES The primary objectives of the Plan are the development and redevelopment of the District for economic development activities, primarily industrial park development, through: 1. Provision of marketable industrial development sites for the purpose of job - creating economic development activities; 2. Provision of public infrastructure improvements, including sanitary sewer, water and stormwater detention, supportive of full development of the District; 3. Provision of a safe, efficient and attractive circulation system; 4. Establishment of design standards which will assure cohesive and compatible development and redevelopment of the District; 5. Provision of public amenities that provide an aesthetically appealing environment, including open space, buffering, landscaping, water features, signage and lighting to create a distinctive and attractive setting; 6. Creation of financial incentives necessary to encourage new and existing businesses to invest in the District; and 7. Expansion of the property tax base of the District. C. DISTRICT BOUNDARIES The District is located entirely within the County of Dubuque, State of Iowa. Most of the District, including all of Subareas A, B, C (as amended by Version 2018.1 of the Plan), D, E, G, and H currently is within the corporate limits of the City of Dubuque. In accordance with Iowa Code Section 403.17(4), Dubuque County consented to the inclusion of Subarea F in the District in a Joint Agreement between the City and County, dated April 20, 2015. The City expects that Subarea F ultimately will become part of the City of Dubuque. In accordance with Iowa Code Section 403.17(4), Dubuque County consented to the inclusion of Subareas I and J in the District in a Joint Agreement between the City and County, dated August 8, 2016. This Plan creates a new Subarea within the District, Subarea K, by adding property to the District. Subarea K includes undeveloped property that was previously a portion of Subarea C, but that was removed from Subarea C by Version 2018.1 of the Plan. The City of Dubuque believes that the objectives of the Plan can best be accomplished by defining the real property included within the District as eleven separate areas so as 4 TABLE OF CONTENTS A. INTRODUCTION 3 B. OBJECTIVES 4 C. DISTRICT BOUNDARIES 4 D. PUBLIC PURPOSE ACTIVITIES 5 E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS 7 F. LAND ACQUISITION AND DISPOSITION 8 G. FINANCING ACTIVITIES 9 H. STATE AND LOCAL REQUIREMENTS 11 I. DURATION OF APPROVED URBAN RENEWAL PLAN 11 J. SEVERABILITY 12 K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN 12 L. ATTACHMENTS 12 2 to distinguish the original District (Subarea A) from the subsequent expansion areas (Subareas B, C (as amended), D, E, F, G, H, I, J, and K). The descriptions of the boundaries of each Subarea are attached to this Plan as ATTACHMENT D, District Boundary Description by Subarea. The boundaries of the District are delineated on the Subarea Map, attached to this Plan as ATTACHMENT A. The City of Dubuque reserves the right to further modify the boundaries of the District at some future date. Any amendments to the Plan will be completed in accordance with Chapter 403 of the Iowa Code, Urban Renewal Law. D. PUBLIC PURPOSE ACTIVITIES To meet the OBJECTIVES of this Plan, the City of Dubuque has and expects to continue to initiate and support development and redevelopment of the District through, among other things, the following PUBLIC PURPOSE ACTIVITIES: 1. Acquisition of property for public improvements and private development; a.) These activities include, but are not limited to, previously approved consultant work that will examine and identify future areas for acquisition and industrial park development. b.) These activities also include the acquisition of property that is included in the previously approved Subareas of this Plan. 2. Demolition and removal of buildings and improvements not compatible with or necessary for industrial park development and all site preparation and grading required in connection with such development; a.) These activities include, but are not limited to, the previously approved site work and grading associated with the development of the Dubuque Industrial Center, the Dubuque Industrial Center West and Dubuque Industrial Center South. 3. Improvement, installation, construction and reconstruction of streets, utilities and other improvements and rights -of -ways including but not limited to the relocation of overhead utility lines, street lights, construction of railroad spur tracks, appropriate landscaping and buffers, parks and open space and signage; a.) These activities include, but are not limited to, the previously approved development of road, water, wastewater, and storm water infrastructure associated with the development of the Dubuque Industrial Center, the Dubuque Industrial Center West 5 and the Dubuque Industrial Center South. b.) These activities include, but are not limited to, the previously approved development of the Bergfeld recreational area, pond, and walking trail, as well as additional signage and trail improvements. c.) These activities also include the construction and installation of supporting infrastructure within the District. 4. Disposition of any property acquired in the District, including sale, initial leasing or retention by the City itself, at its fair value; 5. Preparation of property for development and redevelopment purposes including but not limited to activities such as appraisals and architectural and engineering studies; b.) These activities include, but are not limited to, the previously approved site work and grading associated with the development of the Dubuque Industrial Center, the Dubuque Industrial Center West and Dubuque Industrial Center South. 6. Maintenance of publicly utilized recreational and economic development areas; a.) These activities include, but are not limited to, general landscaping and maintenance expenses in public right-of-way and undeveloped land owned by the City of Dubuque. 7 Use of tax increment financing, loans, grants and other appropriate financial tools in support of eligible public and private development and redevelopment efforts; a) These activities also include, but are not limited to, previously approved property tax rebate agreements with: • Leo A. Theisen and Theisen Supply, Inc.; • A.Y. McDonald Mfg. Co.; • Green Industrial Supply; • Walter Development, LLC and TM, Inc.; • Spiegel Family Realty Company; • Progressive Processing, LLC/Hormel; • ITC Midwest LLC; • Medline Industries, Inc. (approved November 19, 2007); • Art's -Way Vessels, Inc.; • Kendall/Hunt Publishing Company, Westmark Enterprises, Inc. and Great River Technologies, LLC.; 6 • P&L Venture, LLC, and National Dentex; • Dubuque Screw Products, Inc.; • Giese Properties, LLC and Giese Manufacturing Company, Inc. (Phase I and II); • Faley Properties, L.L.C. and Faley Enterprises, Inc.; • Malay Holdings, LLC, and Vanguard Countertops, Inc.; • Tri-State Industries; • TriState Quality Metals, LLC; • Roasting Solutions, LLC; • Flexsteel Industries, Inc.; and Medline, Industries, Inc. (anticipated to be approved May 21, 2018). a.) These activities include, but are not limited to, previously approved agreements to sell bonds, leveraging tax increment financing on capital improvement for; • American Tank and Fabrication, Co. (formerly Vessel Systems, Inc.) for the development of a 31,000 square feet industrial manufacturing facility at 8025 Chavenelle Road. • The Adams Company for the development of a 50,000 square foot industrial facility at 8040 Chavenelle Road. 8. Enforcement of applicable local, state and federal laws, codes and regulations; 9. Enforcement of established design standards in furtherance of quality development; 10. Development and implementation of a marketing program for the purpose of promoting the purchase and development of industrial sites by private developers; 11. Coordination and cooperation with the improvement of Seippel Road as it affects Subarea B's accessibility to U.S. Highway 20. 12. Contracts with vendors to promote business retention, expansion, recruitment, and workforce development; a.) These activities include, but are not limited to, a contract for service with the Greater Dubuque Development Corporation to promote business retention and expansion, workforce development, new business recruitment and commercial and industrial expansion in the District. b.) These activities include, but are not limited to, related legal expenses. 7 13. Construction by the County of one or more County -owned buildings in Subareas I and/or J. a.) These activities include the support of the County's investment of Dubuque County funds into the construction of a new office building and a new maintenance and storage shop on certain County -owned real property situated at 13047 City View Drive for use by the County's Secondary Roads, Health, Zoning and County Assessor Departments. The County funding for this project may come from borrowed funds through the issuance of general obligation indebtedness or such other sources as the County may identify in the future. It is not anticipated that the City or TIF funds from the District will finance this project in any way. Public purpose activities are limited to those areas delineated on the URBAN RENEWAL DISTRICT map (Attachment A). All public purpose activities shall be conditioned upon and shall meet the restrictions and limitations placed upon the District by the Plan. E. DEVELOPMENT & REDEVELOPMENT REQUIREMENTS The LAND USE and PLANNING AND DESIGN CRITERIA set forth herein shall apply to any and all District properties the development and/or the redevelopment of which is assisted by the City through any of the PUBLIC PURPOSE ACTIVITIES listed above. 1. Land Use Subareas A, B, C, D, E, F, G, H, I, J, and K shall continue to be developed under the regulations of the existing Dubuque Industrial Center Planned Industrial District. The allowed uses provide for a mix of commercial and industrial land use activities within a quality industrial park setting. LAND USE maps (Attachments B-1 and B-2) identify the existing and the proposed land uses within Subareas A, B, C, D, E, F, G, H, I, J, and K. 2. Planning and Design Criteria The planning criteria to be used to guide the physical development of Subareas A, B, C, D, E, F, G, H, and K are those standards and guidelines contained within the City of Dubuque's Unified Development Code and other applicable local, state and federal codes and ordinances. a. Subarea A development will continue to be additionally governed by the Conditions of Development and Operation Documents of the Dubuque 8 Industrial Center Planned Industrial District as amended from time to time. b. Subareas B, C, D, E, F, and K will develop under a PI Planned Industrial District ordinance as required by Section 16-5-24 of the City of Dubuque's Unified Development Code. Development will follow the Planned Unit Development regulations which require a conceptual development plan and specific design and performance standards to be approved by ordinance. c. Subareas G and H are intended to develop as an Industrial area similar to Subareas B, C, D, E, and F. d. Subareas I and J are located in Dubuque County outside of City of Dubuque corporate limits and therefore are not subject to City Development Codes. F. LAND ACQUISITION AND DISPOSITION The City of Dubuque is prepared to acquire and dispose of property in support of the development and redevelopment of the District within the parameters set forth below. 1. Land Acquisition The City has acquired substantially all of the land located within the District except Subareas I and J and has made the same available for private development in accordance with this Plan. 2. Land Disposition All City owned land that is available for development within the District, will be sold for the development of viable uses consistent with this Plan and not for purposes of speculation. Land will be disposed of in accordance with the requirements set forth in Chapter 403 of the Iowa Code, Urban Renewal Law. Developers will be selected on the basis of the quality of their proposals and their ability to carry out such proposals while complying with the requirements of this Plan. Developers will be required by contractual agreement to observe the Land Use Requirements and Planning and Design Criteria of this Plan. The contract and other disposition documents will set forth the provisions, standards and criteria for achieving the objectives and requirements outlined in this Plan. 3. Relocation Requirements No relocation is anticipated at this time. 9 G. FINANCING ACTIVITIES To meet the OBJECTIVES of this Plan and to encourage the development of the District and private investment therein, the City of Dubuque is prepared to provide financial assistance to qualified industries and businesses through the making of loans or grants under Chapter 15A of the Iowa Code and through the use of tax increment financing under Chapter 403 of the Iowa Code. 1. Chapter 15A Loan or Grant The City of Dubuque has determined that the making of loans or grants of public funds to qualified industries and businesses is necessary to aid in the planning, undertaking and completion of urban renewal projects authorized under this Plan within the meaning of Section 384.24(3)(q) of the Iowa Code. Accordingly, in furtherance of the objectives of this Plan, the City of Dubuque may determine to issue bonds or loan agreements, in reliance upon the authority of Section 384.24A, Section 384.24(3)(q), Section 403.12 (general obligation bonds) or Section 403.9 (tax increment bonds), for the purpose of making loans or grants of public funds to qualified businesses located within the District. Alternatively, the City may determine to use available funds for the making of such loans or grants. In determining qualifications of recipients and whether to make any such individual loans or grants, the City of Dubuque shall consider one or more of the factors set forth in Section 15A.1 of the Iowa Code on a case-by-case basis. Tax Increment Financing The City of Dubuque is prepared to utilize tax increment financing as a means of financing eligible costs incurred to implement the Public Purpose Activities identified in Part D of this Plan. Bonds, tax rebate agreements and/or loan agreements may be issued by the City under the authority of Section 403.9 of the Iowa Code (tax increment bonds) or Section 384.24A, Section 384.24(3)(q) and Section 403.12 (general obligation bonds). The City acknowledges that the use of tax increment revenues delays the ability of other local taxing bodies to realize immediately the direct tax benefits of new development in the District. The City believes, however, that the use of tax increment revenues to finance the development of new industrial land and to promote private investment in the District is necessary in the public interest to achieve the OBJECTIVES of this Plan. Without the use of this special financing tool, new investment may not otherwise occur or may occur within another jurisdiction. If new development does not take place in Dubuque, property values could stagnate and the City, County and School District may receive less taxes during the duration of this Plan than they would have if this Plan were not implemented. Tax increment financing will provide a long-term payback in overall increased tax 10 base for the City, County and School District. The initial public investment required to generate new private investment will ultimately increase the taxable value of the District well beyond its existing base value. Tax increment reimbursement may be sought for, among other things, the following costs to the extent they are incurred by the City: a. Planning and administration of the Plan; b. Construction of public infrastructure improvements and facilities within the District; c. Acquisition, installation, maintenance and replacement of public investments throughout the District including but not limited to street lights, landscaping and buffers, signage and appropriate amenities; d. Acquisition of land and/or buildings and preparation of same for sale or lease to private developers, including any "write down" of the sale price of the land and/or building; e. Preservation, conservation, development or redevelopment of buildings or facilities within the District to be sold or leased to qualified businesses; f. Loans or grants to qualified businesses under Chapter 15A of the Iowa Code, including tax rebate payments, debt service payments on any bonds issued to finance such loans or grants, for purposes of expanding the business or activity, or other qualifying loan programs established in support of the Plan; and g. Providing the matching share for a variety of local, state and federal grants and loans. h. Any of the costs incurred in connection with any of the PUBLIC PURPOSE ACTIVITIES described in Part D of this Plan. 3. Proposed Amount of Indebtedness At this time, the extent of improvements and new development within the District is only generally known. As such, the amount and duration for use of the tax increment revenues for public improvements and/or private development can only be estimated; however, the actual use and amount of tax increment revenues to be used by the City for District activities will be determined at the time specific development is proposed. It is anticipated that the maximum amount of indebtedness which will qualify for tax increment revenue reimbursement during the duration of this Plan, including 11 acquisition, public improvements and private development assistance within the District, will not exceed $50,000,000. The City of Dubuque's current general debt subject to the constitutional debt limit is $132,567,205 (a list of the outstanding obligations is found at Attachment C) and the current constitutional debt limit is $209,048,707. H. STATE AND LOCAL REQUIREMENTS All provisions necessary to conform with state and local laws have been complied with by the City of Dubuque in the implementation of this Plan and its supporting documents. I. DURATION OF APPROVED URBAN RENEWAL PLAN 1. Subarea A This Plan shall continue in effect for Subarea A until terminated by action of the City Council, but in no event before the City of Dubuque has received full reimbursement from all incremental taxes of its advances and principal and interest payable on all Tax Increment Financing or general obligations issued to carry out the OBJECTIVES of the Plan. 2. Subareas B, C, D, E, F, G, H, I, J, and K This Plan shall continue in effect until terminated by the City Council; provided, however, that the collection of tax increment revenues from properties located in Subareas B, C, D, E, F, G, H, I, J, and K shall be limited as provided by law (currently twenty (20) years from the calendar year following the calendar year in which the City first certifies to the County Auditor the amount of any loans, advances, indebtedness or bonds which qualify for payment from the division of tax increment revenue as provided for in Section 403.19 (tax increment financing) of the Iowa Code, or in which the City first includes the Subarea in an ordinance for the division of tax increment revenue). The DEVELOPMENT AND REDEVELOPMENT REQUIREMENTS established, or as amended from time to time by the City of Dubuque Zoning Ordinance, shall remain in effect in perpetuity. J. SEVERABILITY In the event one or more provisions contained in this Plan shall be held for any reason to be invalid, illegal, unauthorized or unenforceable in any respect, such invalidity, illegality, unauthorization or unenforceability shall not affect any other provision of this Plan and this Plan shall be construed and implemented as if such provision had never been contained herein. 12 K. AMENDMENT OF APPROVED URBAN RENEWAL PLAN This Plan may be amended from time to time to respond to development opportunities. Any such amendment shall conform to the requirements of Chapter 403 of the Iowa Code. Any change effecting any property or contractual right can be effectuated only in accordance with applicable state and local law. L. ATTACHMENTS A Urban Renewal District Map B Land Use Maps B-1 Existing Land Use B-2 Proposed Land Use C List of General Obligation Debt D Legal Descriptions 13 cull iNGHAM Subarea A Subarea B Subarea C Subarea D Subarea E Subarea F Subarea G Subarea H Subarea 1 Subarea 1 Subarea K District Boundary Dubuque City Limits .11th-:ferpnr,-r,ri /he:lli INN 1 1 1 r;c rifjj E, 1 r\i`» �� r d / l r r r �� J_J J�l:Jjl!JIJJ r1LIL] fl rd LI]tf ELJJIIJJJ Agriculture Commercial/Recreation Heavy Industrial Institutional Light Industrial Office Open Space Park Single Family/Duplex Vacant County Agriculture District Boundary CI Dubuque City Limits II 1 1 j) 11 1Ifr11 II J-2 r 1�J�J�rJ I rl1\JJ J �r 2U]ta L2 �!1 1!J �J!1� 1.1111:::111; 1 f' X11 rr EUJIUJI moral) J;J111�11 r JJitrir traTZWD (1) zFi U Commercial/Recreational Heavy Industrial Institutional Light Industrial Mixed -Use Residential Office Open Space Park di Single -Family Residential District Boundary Ci Dubuque City Limits 1 z thr Al ic;i;.rl>pr City of Dubuque Summary of Bonded Indebtedness Description Date Average Year of Amount Principal Principal Interest Principal of Interest Final of Outstanding Due Due Outstanding Issue Rate Payment Issue 6/30/17 FY 2018 FY 2018 6130118 General Obligation Bonds 'Essential Corporate Purpose/ Airport T -Hangars - Refunded - Sales Tax 20% 12-10-12 1.2193% 2020 405,365 172,000 50,000 2,556 122.000 Airport New Terminal Fumishings - Sales Tax 20% 11-17-14 3.3000% 2026 55,000 45,000 5,000 1,350 40,000 Airport Improvements Refunding 04-17-17 3.0000% 2030 282,200 282,200 17.200 9,501 265,000 Airport Improvements - PFC 06-28-12 3.1972% 2032 2,145,000 1,770,000 100,000 54.778 1.670,000 Airport Improvements - Sales Tax 20% 06-28-12 3.1972% 2032 90,000 50,000 10.000 1,085 40,000 Airport Terminal Utility Improv - PFC 11-17-14 3.3000% 2034 690,000 630,000 30,000 20,156 600,000 Airport New Terminal Roads/Parking Sales Tax 20% 04-04-16 2.7896% 2036 635,927 610,030 28,775 15,779 581,255 America's River Refunding -General Fund 04-17-17 3.0000% 2021 1,984,100 1,984,100 465,500 66,798 1,518,600 America's River Refunding - GDTIF 04-17-17 3.0000% 2021 1,255,000 1,255,000 295.000 42,252 960,000 Building -Conf Center Improv - Sales Tax 20% 06-28-12 2.7903% 2022 60,200 43,000 8.600 1,290 34,400 Building 18th Street Improv Sales Tax 20% 08-01-11 3.5863% 2026 620,041 425,058 40,946 15,604 - Building 18th Street Improv Sales Tax 20% 3/19/2018 3.0464% 2026 391,913 - - - 391,913 Building City Hall Brickwork - Sales Tax 20% 06-28-12 2.7903% 2027 393,000 295,500 25,500 8,865 270,000 Building Smart Meters Refunding 04-17-17 3.0000% 2030 45,400 45,400 2.800 1,228 42,600 Building Federal Building Roof - Sales Tax 20% 04-04-16 2.7896% 2035 268.404 257,474 12.145 6,660 245,329 Civic Center Improvements - Sales Tax 20% 06-28-12 2.7903% 2027 550,200 413,700 35,700 12,411 378,000 DICW Expansion -Taxable 11-04-08 5.5369% 2018 2,465.000 430,000 430,000 23,650 DICW Expansion -Non Taxable - Refunding 04-04-16 2.9127% 2023 3,175,000 2,470,000 575,000 68.350 1,895.000 DICW Expansion - South Siegert Farm 08-01-11 3.5863% 2026 378,965 259,795 25,026 9.538 - DICW Expansion - South Siegert Farm 3/19/2018 3.0464% 2026 239,534 - - - 239,534 DICW North Siegert Refunding 04-17-17 3.0000% 2029 1,285,000 1,285,000 90,000 43,262 1,195,000 DICW Expansion -Consultant 12-10-12 2.5337% 2032 151,462 130,229 7,431 3.162 122,798 DICW Expansion - South Siegert Farm - Taxable 06-28-12 3.1972% 2032 3,975.000 3,280,000 180,000 101,560 3,100,000 DICW Expansion - South Siegert Farm- Non-taxable 06-28-12 2.7903% 2032 425,000 355.000 20,000 10,962 335.000 DICW Taxable - Land Acquisition 11-17-14 3.9900% 2034 1,640.000 1,460,000 90,000 51,625 1,370,000 E911 Tower Relocation - Sales Tax 20% 06-28-12 2.7903% 2027 235,800 177,300 15,300 5,319 162,000 Fire Station #4 Improvements - Gaming 06-28-12 2.7903% 2022 65,000 45,000 5,000 1.350 40,000 Fire Amb/Building HVAC/Bunker Irrigation/Park 11-17-14 3.3000% 2025 715,000 585,000 70,000 17.550 515,000 Fire Pumper - Gaming 06-28-12 2.7903% 2027 269,800 198,800 17.750 5,964 181.050 Fire Truck Refunding - Debt Service Levy 04-17-17 3.0000% 2030 951,500 951,500 57,900 32,034 893,600 Fire Station #2/Park Improvements - Sales Tax 20% 11-17-14 3.3000% 2034 320,000 290,000 15,000 9,275 275,000 Fire Ambulance Replacement 04-17-17 3.0000% 2030 230.000 230,000 15,000 7.743 215,000 Franchise Fee Settlement Judgment Bond 04-04-16 2.9326% 2035 2,830,000 2,710.000 130,000 72,906 2,580,000 GDTIF Main Street Refunding 04-17-17 3.0000% 2021 305,000 305,000 75,000 10,268 230,000 GDTIF Kephart's Building - Refunding 04-04-16 2.9127% 2023 200,000 175.000 25,000 5,000 150.000 GDTIF Library Renovation - Refunding 04-04-16 2.9127% 2023 1,275.000 1,105,000 170,000 31,450 935,000 GDTIF Downtown Housing Refunding 04-17-17 3.0000% 2030 2.120,000 2.120,000 115,000 74.297 2,005,000 GDTIF Millwork District Refunding 04-17-17 3.0000% 2030 2,080,000 2,080,000 120,000 70,027 1,960,000 GDTIF 7th Street/2-Way Conversion 03-15-12 2.7031% 2031 5,560,000 4,505,000 275,000 114,794 4,230,000 GDTIF Intermodal 03-15-12 2.5444% 2031 4,380,000 3,550,000 215,000 86,512 3,335,000 GDTIF 5th St Restroom/MFC 12-10-12 2.5337% 2032 1,988,538 1,709,772 97,568 41,508 1.612,204 GDTIF MCIC/ADA Assist/Econ. Dev Grants 12-10-12 1.7008% 2032 1,035,000 665.000 125,000 11,746 540,000 GDTIF Washington Neighborhood Business Incentive 06-28-12 3.1972% 2032 755,000 650,000 35,000 20,105 615,000 GDTIF Intermodal/Millwork Parking/CHI 11-17-14 3.9900% 2034 5,670.000 5,670,000 206,889 5,670,000 GDTIF Transit Roof/DT Loan PooVADA Assist 11-17-14 3.3000% 2034 190,000 190,000 6,125 190,000 Library Improvements - Sales Tax 20% 06-28-12 2.7903% 2022 65.500 49,250 4,250 1,478 45,000 Library Improvements 12-10-12 2.4872% 2027 173.992 134,300 11,986 3,266 122,314 Park Improvements - Gaming 12-10-12 2.4872% 2022 209,050 129,500 20,350 2,618 109,150 Park Improvements Sales Tax 20% 12-10-12 2.4872% 2022 171,808 105,406 20,051 2,498 85,355 Park Improvements - Sales Tax 20% 06-28-12 2.7903% 2027 65.500 49,250 4,250 1,478 45.000 Park Water System Study Refunding 04-17-17 3.0000% 2030 60,000 60.000 3,600 2,020 56.400 Park Ham House - Sales Tax 20% 04-04-16 2.7896% 2035 200,668 192,496 9,080 4,979 183,416 Parking Refinanced Portions 5thl3rd•St/IA Ramps 12-10-12 1.2193% 2021 5,541,573 2,068,000 715,000 30,338 1,353,000 Parking Port of Dubuque Parking Ramp 08-01-11 3.5863% 2026 590,994 405,149 39,028 14,874 - Parking Port of Dubuque Parking Ramp 3/19/2018 3.0464% 2026 373,553 - - - 373,553 Parking Central Ave Ramp Refunding 04-17-17 3.0000% 2030 6,380,000 6,380,000 415,000 214,793 5,965,000 Parking Iowa Street Ramp Improvements 08-01-11 3.3045% 2031 60,720 47,914 2,734 1,642 - Parking Iowa Street Ramp Improvements 3/19/2018 2.9050% 2031 45.516 - - - 45,516 Parking Locust Ramp Security Cameras 06-28-12 2.7903% 2033 175,000 150.000 10,000 4,613 140,000 Parking Improvements 11-17-14 3.3000% 2034 185,000 170,000 10.000 5.387 160.000 Parking Ramp Improvements - Taxable 11-17-14 3.9900% 2034 305.000 285.000 15.000 10.055 270,000 Police Software Replacement - Gaming 12-10-12 2.4872% 2022 355,950 220,500 34,650 4,457 185,850 Police CAD Software - Gaming 11-17-14 3.3000% 2030 260,000 230,000 15,000 7,050 215,000 Description Date Average Year of Amount Principal Principal Interest Principal of Interest Final of Outstanding Due Due Outstanding Issue Rate Payment Issue 6130/17 FY 2018 FY 2018 6130/18 General Obligation Bonds (Essential Corporate Purpose/ Public Works Equipment Sales Tax 30% 11-17-14 3.3000% 2022 305,000 225,000 45,000 6.750 180.000 Public Works Equip Refunding 04-17-17 3.0000% 2030 392,000 392.000 23,900 13,197 368.100 Public Works/Transit Radio Replacement - FY18 Future 3.3000% 2038 200,000 3,695 6,067 196.305 PW Curb Ramp/Engineering Street Improv 11-17-14 3.3000% 2034 1,250,000 1,140,000 55,000 36,475 1,085,000 Recreation Improvements - Sales Tax 20% 06-28-12 2.7903% 2022 9,800 7,000 1,400 210 5,600 Recreation Improvements - Sales Tax 20% 12-10-12 2.4872% 2027 14,924 11,663 985 284 10,678 Sanitary Improvements Refunding 04-17-17 3.0000% 2030 660,000 660,000 35.000 22,220 625,000 Sanitary Sewer lmprovements 08-01-11 3.3045% 2031 1.374.068 1,084,277 61.866 37,148 - Sanitary Sewer Improvements 3/19/2018 2.9050% 2031 1,030,009 - - 1,030,009 Sanitary Forcemain Repair 12-10-12 2.4872% 2032 655,239 538,403 30,112 13,419 508,291 Sanitary Sewer Improvements 06-28-12 2.7903% 2033 1,560,000 1,300.000 70,000 40,144 1,230.000 Sanitary Sewer Improvements 11-17-14 3.3000% 2034 5,670,000 5,670,000 270,000 181,425 5,400.000 Sanitary Sewer Improvements 04-04-16 2.7896% 2035 2,405,000 2,310,000 105,000 59,706 2,205,000 Solid Waste Collection Refunding 04-17-17 3.0000% 2030 51,300 51,300 3,100 1,727 48,200 Solid Waste Collection 08-01-11 3.3045% 2031 36,615 28,892 1,648 990 - Solid Waste Collection 3/19/2018 2.9050% 2031 27,447 - 27,447 Stormwater Refunding 04-04-16 2.9127% 2028 6,270,000 5,410,000 570,000 156,600 4,840,000 Stormwater Sales Tax Revenue - GO 05-19-14 3.2309% 2029 7,190,000 7,190,000 323.100 7,190,000 Stormwater Improvements Refunding 04-17-17 3.0000% 2030 2,015,000 2,015,000 120,000 67,838 1,895,000 Stormwater Improvements 08.01-11 3.3045% 2031 2,287,260 1,804,877 102,981 61,836 Stormwater Improvements 3/19/2018 2.9050% 2031 1,714,542 - - - 1,714,542 Stormwater Improvements 03-15-12 2.7031% 2031 1,935,000 1,505,000 90,000 38,332 1,415,000 Stormwater 7th Street Storm Improvements 12-10-12 2.4872% 2032 134,342 110,387 6,174 2,751 104,213 Stormwater Improvements 06-28-12 2.7903% 2033 405.000 340,000 20,000 10,500 320,000 Streetlight Replacement Refunding - ST 04-17-17 3.0000% 2030 4,900 4.900 300 165 4,600 Street FEMA Land Buyout - Gaming 06-28-12 2.7903% 2027 110,200 81,200 7,250 2,436 73,950 Street Fiber/Sidewalk/Lights Refunding RUT 04-17-17 3.0000% 2030 258,600 258,600 15,700 8,706 242,900 Street Southwest Arterial 08-01-11 3.3045% 2031 1,029,285 812,209 46,342 27,826 • Street Southwest Arterial 3/19/2018 2.9050% 2031 771,557 - 771,557 Street Southwest Arterial - Sales Tax 30% 12-10-12 2.4872% 2032 1,280,545 1,055,549 56,090 25,713 999,459 Technology Park Granger/Airport Utilities 12-10-12 2.5337% 2018 245,000 60.000 60,000 1,200 - Technology Park Airport Utility Extension 06-28-12 2.7903% 2018 945,000 200,000 200,000 6,000 Water System Improvements 08-01-11 3.3045% 2031 1.542,052 1,216.831 69,429 41,690 - Water System Improvements 3/19/2018 2.9050% 2031 1.155,930 1,155,930 Water System Improvements 12-10-12 2.4872% 2032 644,151 529,295 29,602 13,192 499,693 Water System Improvements 06-28-12 2.7903% 2033 1,840,000 1,530.000 80.000 47,250 1,450,000 Water System Improvements 11-17-14 3.3000% 2034 9,195,000 9,195,000 - 295,131 9,195,000 Water System Improvements 04-04-16 2.7896% 2035 635,000 615,000 30,000 15,888 585,000 Total General Obligation Bonds 127,251,939 103,890,006 7,663,694 3,280,745 96,481,311 Tax Increment Port of Dubuque Parking Ramp (GDTIF) 10-16-07 7.5000% 2037 23,025,000 20,520,000 475,000 1,539,000 20,045,000 Total Tax Increment Bonds 23,025,000 20,520,000 475,000 1,539,000 20,045.000 Lower Main Development, LLC TIF Note 06-30-04 8.00% 2016 182,000 - - Theisen Supply, Inc. TIF Note (DICW) 11-22-06 8.25% 2018 812,278 118.363 118,363 6,962 - 40 Main (GDTIF) 08-06-09 2020 690,529 330.647 74,766 20,644 255,881 Tota! Tax Increment Notes 1,684,807 449,010 193,129 27,606 255,881 Total Tax increment 24,709.807 20,969,010 668,129 1,566,606 20,300.881 Description Date Average Year of Amount Principal Principal Interest Principal of Interest Final of Outstanding Due Due Outstanding Issue Rate Payment Issue 6130117 FY 2018 FY 2018 6130118 Tax lncrement Economic Development TIF Rebate Agreements TM Logistics (Walter) (DICW) 05-16-11 Rebate 2018 194,562 45.108 45,108 P&L Ventures (DICW) 10-30-06 Rebate 2018 170.471 26,286 26,286 Medline (DICW) 11-19-07 Rebate 2019 1,600,279 347.780 174,742 173,038 Theisen Supply II (DICW) 02-20-12 Rebate 2018 78,348 36,761 36,761 Arts Way (DICW) 08-06-07 Rebate 2018 271,432 45,748 45,748 Kendall Hunt (DICW) 04-02-07 Rebate 2018 1,329.202 141,953 141,953 Spiegel Spec (DICW) 09-15-08 Rebate 2018 1,003.205 216,078 216,078 Vanguard (DICW) 06-02-08 Rebate 2022 279,093 33.026 33,026 130,737 Giese Properties II (DICW) 07-17-06 Rebate 2019 41,261 8,964 4,438 4.438 Dubuque Screw (DICW) 06-19-06 Rebate 2019 345,516 77,624 38,812 38,414 Faley Properties (DICW) 02-07-11 Rebate 2022 904,638 513,624 102,724 420,243 Green Industrial Supply (DICW) 08-15-11 Rebate 2023 2,908,812 1,260,378 210,063 1,040,102 Tri-State Quality Metals (DICW) Non -Appropriation 03-17-14 Rebate 2026 32,510 32,510 36,753 43,503 Roasting Solutions (DICW) Non -Appropriation 01-14-16 Rebate 2028 33,666 - 33,666 Hormel Foods (DICW) (100% 2021/40% 2026) 04-21-08 Rebate 2026 8,250,067 4,188,266 698,044 3,456,565 McGraw Hill II (GDTIF) 06-19-06 Rebate 2018 4.009,319 445,357 445.357 - Morrison Brothers (GDTIF) 10-06-08 Rebate 2018 162,866 20,919 20,919 - Hartig (GDTIF) 60% 09-21-06 Rebate 2019 100,119 16,415 8,208 8.657 C&B Security (GDTIF) 07-20-07 Rebate 2019 356,976 59,813 29.906 31,660 Star Brewery (GDTIF) 07-17-06 Rebate 2020 1,223,307 221.290 73,763 146,060 Interstate Building (GDTIF) 11-03-08 Rebate 2020 117,481 29,230 14.615 14,615 Victory Cafe 756 Main St. (GDTIF) 0641-10 Rebate 2022 87,053 28,996 5,799 24,945 Bowling & Beyond Lease Buyout (GDTIF) 10.15-12 Lease Buyout 2032 1,000.000 750,000 50.000 700,000 Flexsteel (GDTIF) 04-18-11 Rebate 2024 2.020,572 1,420,181 202,883 1,205,456 The Rose (Lake Ridge) 09-26-11 Rebate 2024 136,014 97,392 13,913 - 94,855 Linseed Oil (GDTIF) Multi -Res 03-07-13 Rebate 2025 576,504 155,878 19,485 87,854 Rousselot (GDTIF) (Non -Appropriation) 01-22-13 Rebate 2025 4,931 5,052 5,052 - 7,197 Julien Hotel (GDTIF) 04.21-08 Rebate 2026 3,260,286 1,942.605 215,845 1,714,444 44 Main (GDTIF) Multi -Res 10-18-10 Rebate 2027 446,799 255,329 25,533 197,110 Barker Financial (GDTIF) Multi -Res 08-16-10 Rebate 2027 297,282 152,540 15,254 97,890 Engine House #1 (GDTIF) 06-06-11 Rebate 2027 171,166 100,660 10,066 89,505 253 Main St. (GOTIF) (Non -Appropriation) 04-06-15 Rebate 2027 5,798 - 1.370 2,673 Spahn and Rose (GDTIF) (Non -Appropriation) 04-21-14 Rebate 2027 108,221 - 108.221 108,221 Franklin Investment -Multires (GDTIF) 04-04-11 Rebate 2028 437,225 298,628 35,853 260,225 Nottingham Properties Multires (GDTIF) 03-15-11 Rebate 2028 82,219 128 128 7 Plastic Center Betty Jane Block (GDTIF) 02-07-11 Rebate 2028 148,957 120,516 10,956 - 21,977 Caradco (GDTIF) Multi -Res 03-21-11 Rebate 2028 1.499,442 1,179,321 107,211 1.086,407 Bonson 356 Main St. (GDTIF) Multi -Res 12-19-11 Rebate 2028 152,286 118,745 10.795 64,881 Roshek Building (GDTIF)(Non-Appropriation) 02-17-09 Rebate 2030 5,149,852 270,913 270,913 273,683 Novelty Iron Works (GDTIF) (Non-Approp)Multi-Res 06-17-13 Rebate 2031 33,105 109,000 109.000 129,410 Kunkel Bounds (TECH) 06-19-06 Rebate 2018 485,462 57,294 57.294 - L&J Properties (TECH) 06-18-07 Rebate 2018 324,518 35,895 35,895 Conlon Johnson (TECH) 10-18-10 Rebate 2019 953,129 257,606 128,803 124,721 Straka Johnson (TECH) 01-01-07 Rebate 2019 189,613 43,748 21.874 18.702 Rockfarm Holdings (TECH) Non -Appropriation 10-07-14 Rebate 2027 42.301 - 39.357 38.955 Total TIF Rebates 41,025,865 15.167,557 3,904,804 11,890,816 General Funded Leases Various Various On-going 194,160 155,000 155.000 Other Loans - Revenue Backed Iowa Finance Authority Loan - Caradco 12-01-10 3.0000% 2030 4.500,000 3.739,197 135.000 3.739.197 Total Other Lns-Rev Backed 4.500,000 3,739,197 135,000 3,739,197 Total City Indebtedness Subject to Debt Limit 197.681.771 143.920.770 12,236,627 4.982.351 132.567,205 Description Date Average Year of Amount Principal Principal Interest Principal of Interest Final of Outstanding Due Due Outstanding Issue Rate Payment Issue 6130117 FY 2018 FY 2018 6/30/18 Revenue Bonds Parking Bricktown Parking Lot 07-21-08 5.00% 2023 400,000 209,901 28.074 10,148 181,827 Sanitary Northfork Catfish Improvements SRF 01-13-10 3.25% 2031 912.000 657,000 41,000 21,352 616,000 Sanitary Water & Resource Recovery Upgrade SRF 08-18-10 3.25% 2039 74,285,000 65,279,000 2,391,000 1,305,579 62,888,000 Sanitary WRRC Cogeneration & Sponsor SRF 05-17-13 2.00% 2033 3,048,000 2,531.000 136.000 50,621 2,395,000 Sanitary Kerper Boulevard SRF Planned 2.00% 2036 4,100,000 - 16,962 2,050.000 Stormwater Lower Bee Branch Restoration SRF 10-27-10 3.25% 2041 7,850,000 6,819,000 192.000 221.617 6,627,000 Stormwater Lower Bee Branch SRF - Estimated 09-01-14 2.00% 2034 1.029,000 856,000 46,000 17,120 810,000 Stormwater Northfork Catfish Improv. SRF 01-13-10 3.25% 2031 800,000 576,000 36.000 18,720 540,000 Stormwater Sales Tax Increment Revenue Bond 06-15-15 3.72% 2031 20,800,000 20.800,000 - 762,650 20.800.000 Stormwater Upper Bee Branch & Sponsor SRF 06-17-15 2.00% 2037 30,941,000 22,952,630 611,800 371,881 23.678.000 Stormwater West 32nd Detention Basin SRF 01-14-09 3.25% 2028 1,847,000 1,152,000 89.000 37,440 1,063,000 Water Roosevelt Water Tower SRF Planned 2.00% 2038 2,350,000 - 43.383 Water CIWA Purchase & Improvements 07-07-17 2.00% 2036 10,198,000 1,000 66.483 5,663,990 Water - CIWA Contract Purchase 12-28-16 3.00% 2022 5,000,000 5,000,000 1,000,000 142,603 4,000,000 Water- Clear Well Reservoirs SRF 10-18-07 3.25% 2028 915,000 571,000 44,000 18,558 527,000 Water Meter Change Out Program SRF 02-12-10 3.25% 2031 6,394,000 4,848,000 279,000 157,560 4,569,000 Water System Improvements & Ext. 11-04-08 4.71% 2023 1,195.000 590,000 90,000 28,528 500,000 Water System Improvements & Ext. 08-16-10 3.54% 2030 5.700,000 4,525,000 215,000 164,700 4,310,000 Total Revenue Bonds 177,764,000 137,366,531 5,199,874 3,412,522 141,262,200 Total City Indebtedness 375.445.771 281,287.301 17,436,501 8.394,873 I 273,829,405 Statutory Debt Limit 207,174,109 209,048,707 % of Debt Limit Used 69.47% 63.41% Remaining Debt Capacity 63,253,339 76,481,502 ATTACHMENT D DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT (2018.2) Updated May 9, 2018 LEGAL DESCRIPTION: Subarea A of the District consists of the real property legally described as follows: • All of Dubuque Industrial Center Eighth Addition; and • All of Lot 1 Dubuque Industrial Center 13th Addition; and • Lot 2 Dubuque Industrial Center 13th Addition; and • Lot 1-2-2 Dubuque Industrial Center Fifth Addition; and • Lot 1 Dubuque Industrial Center Fifth Addition; and • Lot 1 Dubuque Industrial Center 11th Addition; and • Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and • Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and • Lot 1-3 Dubuque Industrial Center 12th Addition; and • Lot 1 of lot 3 of final plat of lot 1 of Dubuque Industrial Center First Addition; and • Lot 1 Dubuque Industrial Center 10th Addition; and • Lot 2-3 Dubuque Industrial Center 12th Addition; and • Lots 1 & 2 of final plat of lot 1 of Dubuque Industrial Center First Addition; and • Lot 1 Dubuque Industrial Center 12th Addition; and • Lot 2 Dubuque Industrial Center Ninth Addition; and • Lot 2 Dubuque Industrial Center 12th Addition; and • Lot 2-2 Dubuque Industrial Center Sixth Addition; and • Lot 3 Dubuque Industrial Center Ninth Addition; and • Lot 1 Dubuque Industrial Center Sixth Addition; and • Lot 2 of 2 Dubuque Industrial Center 7th Addition; and • Lot 2-1 Walter Addition; and • Lot 2-1 Walter Addition; and • And all adjoining public right-of-way, all in the City of Dubuque, Dubuque County, Iowa. Subarea B of the District consists of the real property legally described as follows: • Lots 1, 3, 4, 1 of 5, 6 and H of Dubuque Industrial Center West as originally platted; and • Lots 1, 2, 3, 4, 5, 6, 7, 8, and C of Dubuque Industrial Center West 2nd Addition as originally platted; and • Lots 1, 2, 3, 4, B, and C of Dubuque Industrial Center West 4th Addition as originally platted; and • Lots 1 of 1, 1 of 2, 2 of 2, 1 of 3, 2 of 3, 1 of 5, A, C, and D of Dubuque Industrial Center West 5th Addition as originally platted; and • Lots 1, 2, and A of Dubuque Industrial Center West 6th Addition as originally platted; and ■ Lots 1, 1 of 2, and 2 of 2 of Dubuque Industrial Center West 7th Addition as originally platted; and ■ Lot 2 of 1 of the Southwest Quarter of the Southwest Quarter and Lot 2 of 1 of the Southeast Quarter of the Southwest Quarter all in Section 30, Township 89 North, Range 2 East, 5th Principal Meridian as originally platted; and • and all that part of a 100 -foot -wide strip of the Chicago Central Pacific Railroad right-of- way lying in the SE 1/4 of Section 30, the SE 1/4 of the SW 1/4 of Section 30, the NW 1/4 of Section 31, and the NE 1/4 of Section 31 all in T89N, R2E, of the 5th P.M. Dubuque County, Iowa, the centerline of which is more particularly described as follows: beginning at a point of intersection with the easterly line of the SE 1/4 of Section 30, T89N, R2E, of the 5th P.M., thence southwesterly along the centerline of said railroad 2,700 feet, more or less a point of intersection with the westerly line of the SE 1/4 of said Section 30; thence southwesterly continuing along said centerline 845 feet, more or less, to a point where the railroad right-of-way widens to 200 feet, said point being the terminus of this description; and • all that part of a 100 -foot -wide strip of the Chicago Central Pacific Railroad right-of-way lying in the Balance of Lot 1 of 1 of the Southwest Quarter of the Southwest Quarter in Section 29, Township 89 North, Range 2 East, 5th Principal Meridian; and • any adjoining public street right-of-way all in the City of Dubuque, Dubuque County, Iowa. Subarea C of the District consists of the real property legally described as follows: • Lots 1 and 2 of Dubuque Industrial Center North Second Addition; and Lots 2, 3, C and A of Dubuque Industrial Center North First Addition, excepting that Part of said Lot A originally platted as Lot 2 of the SW 1/4 of the NW % of Sec. 30, T89N, R2E of the 5th PM; and any adjoining public street right-of-way, all in the City of Dubuque, Dubuque County, Iowa. EXCEPT those lots and parcels now forming Subarea K. Subarea D of the District consists of the real property legally described as follows: ■ Lots 1, 2, and B and all of the right of way of Chavenelle Court in Dubuque Industrial Center West 8th Addition in the City of Dubuque, Dubuque County, Iowa. Subarea E of the District consists of the real property legally described as follows: • All of Lot 1 of 1 and Lot 1 of 2 of the South Fork Subdivision No. 1 as originally platted, including any adjoining public street right-of-way to said lots, all in the City of Dubuque, Dubuque County, Iowa, and; • All of Seippel Road right of way from the north boundary line of Lot 1 of 1 of South Fork Subdivision No. 1 in the City of Dubuque, to the south boundary lines of Lot H of Dubuque Industrial Center West and Lot 1 of Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, including crossings at the intersections of Old Highway Road and Chicago Central & Pacific Railroad rights-of-way. Subarea F of the District consists of the real property legally described as follows: • Lot one (1) of Graf Farm Subdivision #2, Dubuque County, Iowa, according to the recorded plat thereof; • Lot 1 of Lot 1 of Lot 1 of Lot 1 of West One-half of Northeast One-quarter, Section 25, Township 89 North , Range 1 East of the 5th Principal Meridian, in Center Township , Dubuque County , Iowa; • Lot 2 in "W.A. Norman Place" in Section 25, Center Township, Dubuque County, Iowa, according to the plat thereof; and • The NW 1/4 of the SE 1/4 of Section 25, Township 89 North, Range 1 East of the 5th P.M., in Center Township, Dubuque County, Iowa. Subarea G of the District consists of the real property legally described as follows: • The South one-half of the Northwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. • Lot 1 of Lot 1 of the Northwest Quarter of the Northwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. • Lot 2 of McFadden Farm Place 442, in the City of Dubuque, Iowa. ■ Lot 2 of McFadden Farm Place, in the City of Dubuque, Iowa. • Lot A of Lot 1 of 1 of the Southwest Quarter of the Southwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. • Lot A of Lot 1 of 1 of the Northwest Quarter of the Southwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. ■ All in the City of Dubuque, Dubuque County, Iowa. Subarea H of the District consists of the real property legally described as follows: • Lot 1 of the Northeast % of the Northeast %, and Lot 2 of Lot 1 of Lot 1 of Lot 2 of the Northeast % of the Northeast %, of Section 30, in Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Subarea I of the District consists of the real property legally described as follows: ■ Lot 2 Seippel Road Place #2, Dubuque County, Iowa. • Lot 2-1-1 of the Southeast Quarter of the Southeast Quarter of Section 25, Township 89 North, Range 2 East of the 5th Principal Meridian, Dubuque County, Iowa Subarea J of the District consists of the real property legally described as follows: • Lot 2 Julien Care Place, Dubuque County, Iowa. • Lot 3 Julien Care Place, Dubuque County, Iowa • Lot 2-1 Julien Care Place, Dubuque County, Iowa Subarea K of the District consists of the real property legally described as follows: • Lot 1 of Dubuque Industrial Center North Third Addition, in the City of Dubuque, Iowa. oe 11 11 11 11 11 11 Doc ID: 008825520034 Type GEN Kind: ORDINANCE Recorded: 05/25/2018 at 02:59:13 PM Fee Amt: $172.00 Page 1 of 34 Dubuque County Iowa John Murphy Recorder F11e2018-00005682 Prepared by Jill Connors, Economic Development, 50 W. 13th St., Dubuque, IA 52001, 563-589-4393 Return to Kevin Firnstahl, City Clerk, 50 W. 13th St., Dubuque, IA 52001, 563-589-4100 ORDINANCE NO. 18-18 AMENDING ORDINANCE NO. 49-16, PREVIOUSLY AMENDED, PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE AMENDED AND RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL AREA OF THE CITY OF DUBUQUE, COUNTY OF DUBUQUE, STATE OF IOWA, BY AND FOR THE BENEFIT OF THE STATE OF IOWA, CITY OF DUBUQUE, COUNTY OF DUBUQUE, DUBUQUE 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 SAID CITY IN CONNECTION WITH THE AMENDED AND RESTATED DUBUQUE INDUSTRIAL CENTER ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL REDEVELOPMENT PROJECT WHEREAS, the Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center Economic Development District (the "District") described in Resolution No. 130-88 was adopted on May 2, 1988 and was thereafter amended and restated by Resolution No. 484-90 on December 17, 1990, Resolution No. 142-97 on April 7, 1997, Resolution No. 478-97 on November 17, 1997, Resolution No. 15-08 on January 7, 2008, Resolution No. 101-08 on March 17, 2008, Resolution No. 109-08 on April 7, 2008, Resolution No. 87-11 on March 7, 2011, Resolution No. 171-13 on June 3, 2013, Resolution No. 197-15 on June 1, 2015, Resolution No. 309-15 on September 8, 2015, Resolution No. 132-16 on September 19, 2016, and Resolution No. 157-18 and Resolution No. 158-18 on May 21, 2018 (as amended and restated, the "Urban Renewal Plan" or "Amended and Restated Urban Renewal Plan"); and WHEREAS, the City Council of the City of Dubuque, Iowa originally provided for the division of taxes pursuant to Section 403.19 of the Code of Iowa within the District in Ordinance No. 26-88 passed and approved on May 2, 1988 and thereafter amended and restated by Ordinance No. 63-88 on December 5, 1988, by Ordinance No. 66-97 on November 17, 1997, by Ordinance No. 70-08 on October 20, 2008, by Ordinance No. 112-°E) 10-14 on February 3, 2014, by Ordinance No. 39-15 on June 1, 2015, by Ordinance No. 55-15 on September 8, 2015, and by Ordinance No. 49-16 on September 19, 2016; and WHEREAS, indebtedness has been incurred by the City, and additional indebtedness is anticipated to be incurred in the future, to finance urban renewal project activities within the District, and the continuing needs of redevelopment within the District are such as to require the continued application of the incremental tax resources of the District; and WHEREAS, the following enactment is necessary to accomplish the objectives described in the premises. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, THAT: Ordinance Number 49-16 is hereby amended to read as follows: Section 1: For purposes of this Ordinance, the following terms shall have the following meanings: (a) Original Project Area means that portion of the City of Dubuque, Iowa described in the Urban Renewal Plan for the District approved by Resolution No. 130-88 on May 2, 1988, and subsequently amended by Resolution No. 484-90 on December 17, 1990, which Original Project Area includes the lots and parcels located within the area now legally described as follows: All of Dubuque Industrial Center Eighth Addition; and All of Lot 1 Dubuque Industrial Center 13th Addition; and Lot 2 Dubuque Industrial Center 13th Addition; and Lot 1-2-2 Dubuque Industrial Center Fifth Addition; and Lot 1 Dubuque Industrial Center Fifth Addition; and Lot 1 Dubuque Industrial Center 11th Addition; and Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and Lot 1-3 Dubuque Industrial Center 12th Addition; and Lot 1 of lot 3 of final plat of lot 1 of Dubuque Industrial Center First Addition; and Lot 1 Dubuque Industrial Center 10th Addition; and Lot 2-3 Dubuque Industrial Center 12th Addition; and Lots 1 & 2 of final plat of lot 1 of Dubuque Industrial Center First Addition; and Lot 1 Dubuque Industrial Center 12th Addition; and Lot 2 Dubuque Industrial Center Ninth Addition; and Lot 2 Dubuque Industrial Center 12th Addition; and Lot 2-2 Dubuque Industrial Center Sixth Addition; and Lot 3 Dubuque Industrial Center Ninth Addition; and 2 Lot 1 Dubuque Industrial Center Sixth Addition; and Lot 2 of 2 Dubuque Industrial Center 7th Addition; and Lot 2-1 Walter Addition; and Lot 2-1 Walter Addition; and And all adjoining public right-of-way, all in the City of Dubuque, Dubuque County, Iowa. The Original Project Area is referred to as "Subarea A" in the Urban Renewal Plan hereinafter described. (b) Subarea B means that portion of the City of Dubuque, Iowa described as Subarea B in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 478-97 on November 17, 1997, and subsequently amended by Resolution No. 15-08 on January 7, 2008, which Subarea B includes the lots and parcels located within the area legally described as follows: Lots 1, 3, 4, 1 of 5, 6 and H of Dubuque Industrial Center West as originally platted; and Lots 1, 2, 3, 4, 5, 6, 7, 8, and C of Dubuque Industrial Center West 2nd Addition as originally platted; and Lots 1, 2, 3, 4, B, and C of Dubuque Industrial Center West 4th Addition as originally platted; and Lots 1 of 1, 1 of 2, 2 of 2, 1 of 3, 2 of 3, 1 of 5, A, C, and D of Dubuque Industrial Center West 5th Addition as originally platted; and Lots 1, 2, and A of Dubuque Industrial Center West 6th Addition as originally platted; and Lots 1, 1 of 2, and 2 of:2 of Dubuque industrial Center West 7th Addition as originally platted; and Lot 2 of 1 of the Southwest Quarter of the Southwest Quarter and Lot 2 of 1 of the Southeast Quarter of the Southwest Quarter all in Section 30, Township 89 North, Range 2 East, 5th Principal Meridian as originally platted; and and all that part of a 100 -foot -wide strip of the Chicago Central Pacific Railroad right-of-way lying in the SE 1/4 of Section 30, the SE 1/4 of the SW 1/4 of Section 30, the NW 1/4 of Section 31, and the NE 1/4 of Section 31 all in T89N, R2E, of the 5th P.M. Dubuque County, Iowa, the centerline of which is more particularly described as follows: beginning at a point of intersection with the easterly line of the SE 1/4 of Section 30, T89N, R2E, of the 5th P.M:, thence southwesterly along the centerline of said railroad 2,700 feet, more or less a point of intersection with the westerly line of the SE 1/4 of said Section 30; thence southwesterly continuing along said centerline 845 feet, more or less, to a point where the railroad right-of-way widens to 200 feet, said point being the terminus of this description; and all that part of a 100 -foot -wide strip of the Chicago Central Pacific Railroad right-of-way lying in the Balance of Lot 1 of 1 of the Southwest Quarter of 3 the Southwest Quarter in Section 29, Township 89 North, Range 2 East, 5th Principal Meridian; .and any adjoining public street right-of-way all in the City of Dubuque, Dubuque County, Iowa. (c) Subarea C means that portion of the City of Dubuque, Iowa described as Subarea C in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 101-08 on March 17, 2008, which Subarea C includes the lots and parcels located within the area legally described as follows: Lots 1 and 2 of Dubuque Industrial Center North Second Addition; and Lots 2, 3, C and A of Dubuque Industrial Center North First Addition, excepting that Part of said Lot A originally platted as Lot 2 of the SW'® of the NW '/ of Sec. 30, T89N, R2E of the 5th PM; and and any adjoining public street right-of-way, all in the City of Dubuque, Dubuque County, Iowa, EXCEPT those lots and parcels now forming Subarea K. (d) Subarea D means that portion of the City of Dubuque, Iowa described as Subarea D in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 109-08 on April 7, 2008, which Subarea D includes the lots and parcels located within the area legally described as follows: Lots 1, 2, and B and all of the right of way of Chavenelle Court in Dubuque Industrial Center West 8th Addition in the City of Dubuque, Dubuque County, Iowa. (e) Subarea E means that portion of the City of Dubuque, Iowa described as Subarea E in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 87-11 on March 7, .2011, which Subarea E includes the lots and parcels located within the area legally described as follows: All of Lot 1 of 1 and Lot 1 of 2 of the South Fork Subdivision No. 1 as originally platted, including any adjoining public street right-of-way to said lots, all in the City of Dubuque, Dubuque County, Iowa, and; All of Seippel Road right of way from the north boundary line of Lot 1 of 1 of South Fork Subdivision No. 1 in the City of Dubuque, to the south boundary lines of Lot H of Dubuque Industrial Center West and Lot 1 of Dubuque Industrial Center West 2nd Addition in the City of Dubuque, Dubuque County, Iowa, including crossings at the intersections of Old Highway Road and Chicago Central & Pacific Railroad rights-of-way. (f) Subarea F means that portion of the City of Dubuque, Iowa, and Dubuque County described. as Subarea F in the Amended and Restated Urban 4 Renewal Plan for the District approved by Resolution No. 197-15 on June 1, 2015, which Subarea F includes the lots and parcels located within the area legally described as follows: Lot one (1) of Graf Farm Subdivision #2, Dubuque County, Iowa, according to the recorded plat thereof; Lot 1 of Lot 1 of Lot 1 of Lot 1 of West One-half of Northeast One-quarter, Section 25, Township 89 North, Range 1 East of the 5th Principal Meridian, in Center Township, Dubuque County, Iowa; Lot 2 in "W.A. Norman Place" in Section 25, Center Township, Dubuque County, Iowa, according to the plat thereof; and The NW 1/4 of the SE 1/4 of Section 25, Township 89 North, Range 1 East of the 5th P.M., in Center Township, Dubuque County, Iowa. (g) Subarea G means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea G in the Amended and Restated Urban Renewal. Plan for the District approved by Resolution No. 309-15 on September 8, 2015, which Subarea G includes the lots and parcels located within the area legally described as follows: The South one-half of the Northwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Lot 1 of Lot 1 of the Northwest Quarter of the Northwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Lot 2 of McFadden Farm Place#2, in the City of Dubuque, Iowa. Lot 2 of McFadden Farm Place, in the City of Dubuque, Iowa. Lot A of Lot 1 of 1 of the Southwest Quarter of the Southwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. Lot A of Lot 1 of 1 of the Northwest Quarter of the Southwest Quarter of Section 29, Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. All in the City of Dubuque, Dubuque County, Iowa. (h) Subarea H means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea H in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 332-16 on September 19, 2016, which Subarea H includes the Tots and parcels located within the area legally described as follows: Lot 1 of the Northeast'/ of the Northeast'/, and Lot 2 of Lot 1 of Lot 1 of Lot 2 of the Northeast'/ of the Northeast -1/4, of Section 30, in Township 89 North, Range 2 East of the 5th Principal Meridian, in the City of Dubuque, Iowa. 5 (i) Subarea I means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea I in the Amended and Restated Urban Renewal Plan for the District approved by Resolution No. 332-16 on September 19, 2016, which Subarea 1 includes the lots and parcels located within the area legally described as follows: Lot 2 Seippel Road Place #2, Dubuque County, Iowa. Lot 2-1-1 of the Southeast Quarter of the Southeast Quarter of Section 25, Township 89 North, Range 2 East of the 5th Principal Meridian, Dubuque County, Iowa (j) Subarea J means that portion of the City of Dubuque, Iowa, and Dubuque County described as Subarea J in the Amended. and Restated Urban Renewal Plan for the District approved by Resolution No. 332-16 on September 19, 2016, which Subarea J includes the lots and parcels located within the area legally described as follows: Lot 2 Julien Care Place, Dubuque County, Iowa. Lot 3 Julien Care Place, Dubuque County, Iowa Lot 2-1 Julien Care Place, Dubuque County, Iowa (k) Subarea K means that portion of the City of Dubuque, Iowa, removed from Subarea C of the District by Version 2018.1 of the Amended and Restated Plan for the District approved by Resolution No. 157-18, and added to the District by Version 2018.2 of the Amended and Restated Plan for the District approved by Resolution No. 158-18 as Subarea K, all on May 21, 2018, which Subarea K includes the Tots and parcels located within the area legally described as follows: Lot 1 of Dubuque Industrial Center North Third Addition, in the City of Dubuque, Iowa. (I) Amended Project Area means that portion of the City of Dubuque, Iowa and Dubuque County included within the Original Project Area, Subarea B, Subarea C (except those lots and parcels now forming Subarea K), Subarea D, Subarea E, Subarea F, Subarea G, Subarea H, Subarea I, Subarea J, and Subarea K, each as described in this Section. Section 2: The taxes levied on the taxable property in the. Amended Project Area, and each subarea thereof, legally described in Section 1 hereof, by and for the benefit of the State of Iowa, City of Dubuque, County of Dubuque, Dubuque 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 3: As to the Original Project Area, 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 6 districts taxing property in the Original Project Area upon the total sum of the assessed value of the taxable property in the Original Project Area as shown on the assessment roll as of January 1, 1987, being the first day of the calendar year preceding the effective date of Ordinance No. 26-88, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or forsaid taxing district into which all other property taxes are paid. The taxes so determined shall be referred herein as the "base period taxes" for such Subarea. As to Subarea B, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1996, being the assessment roll applicable to property in such Subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 66-97. As to Subarea C (except the lots and parcels now forming Subarea K), base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2007, being the assessment roll applicable to property in such subarea as of January 1. of the calendar year preceding the effective date of Ordinance No. 70-08, and base values shall be reduced due to the removal of area from Subarea C. As to Subarea D, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2007, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 70-08. As to Subarea E, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2013, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No.10-14. As to Subarea F, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2014, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 39-15. As to Subarea G, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2014, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 55-15. As to Subarea H, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2015, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 49-16. 7 As to Subarea I, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2015, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 49-16. As to Subarea J, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2015, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of Ordinance No. 49-16. As to Subarea K, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2017, being the assessment roll applicable to property in such subarea as of January 1 of the calendar year preceding the effective date of this Ordinance No. 18-18. Section 4: That portion of the taxes each year in excess of the base period taxes for the Amended Project Area, determined for each sub -area thereof as provided in Section 3 of this Ordinance, shall be allocated to and when collected be paid into the special tax increment fund previously established by the City of Dubuque to pay the principal of and interest on loans, monies advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Section 403.9 or Section 403.12 of the Code of Iowa, incurred by the City of Dubuque, Iowa to finance or refinance, in whole or in part, urban renewal projects undertaken within the Amended Project Area pursuant to the Urban Renewal Plan, except that taxes for the regular and voter -approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 of the Code of Iowa and taxes for the instructional support program of a school district imposed pursuant to Section 257.19 (but in each case only to the extent required under Section 403.19(2)), taxes for the payment of bonds and interest of each taxing district, and taxes imposed under Section 346.77 (22) related to joint county -city buildings, shall be collected against all taxable property within the Amended Project Area without any limitation as hereinabove provided. Section 5: Unless or until the total assessed valuation of the taxable property in the subareas of the Amended Project Area exceeds the total assessed value of the taxable property in said subareas shown by the assessment rolls referred to in Section 3 of this Ordinance, all of the taxes levied and collected upon the taxable property in the Amended Project 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 6: At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Dubuque referred to in Section 4 hereof have been paid, all monies thereafter received from taxes upon the taxable property in the Amended Project Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. 8 Section 7: 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 continue the division of taxes from taxable property in the Amended Project Area under the provisions of Section 403.19 of the Code of Iowa, as authorized in Ordinance No. 49-16. 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 Amended Project Area and the subareas contained therein. Section 8: This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Passed and approved this 21st day of May 2018. Attest: Ken S. Firnstafil, City Clerk Read first time: May 21, 2018 Passed and approved: May 21, 2018 Published: May 25, 2018 9 Roy Buol, Mayor CERTIFICATE of the CITY CLERK STATE OF IOWA ) SS: COUNTY OF DUBUQUE ) I, Kevin S. Firnstahl, do hereby certify that I am the duly appointed, qualified, City Clerk of the City of Dubuque, Iowa, in the County aforesaid, and as such City Clerk, I have in my possession or have access to the records of the proceedings of the City Council. I do further state that the hereto attached Ordinance No. 18-18 is a true and correct copy of the original. In Testimony Whereof, I hereunto set my hand and official seal of the City of Dubuque, Iowa. Dated at Dubuque, Iowa, on this 24th day of May, 2018. Kevii S. Firnstahl, MC, City Clerk STATE OF IOWA {SS: DUBUQUE COUNTY CERTIFICATION OF PUBLICATION I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper on the following dates: May 23, 2018, and for which the charge is $307.10. Subscribed to before me otary Public in and for Dubuque County, Iowa, this /.1 day of � O . , 20 /'Y . 2)7 Notary Public in and for Dubuque County, Iowa. MARY k WESTERMEYER Commission Number 154885 My Commission Exp. Feb. 1, 2020 OFFICIAL ' • PUBLICATION' ORDINANCE'NO. 18-18 AMENDING -C/RDI- ' NANCE NO.• 49-16, PREVIOUSLY, AMEND- ED, ,PROVIDING THAT -GENERAL:PROPERTY TAXES. LEVIED AND COLLECTED • EACH YEAR ON• ALL PROP- ERTY , LOCATED WITHIN THE:AMEND- ED.:AND RESTATED DUBUQUE INDUSTRI- `ALCENTER-ECONOM IC. "DEVELOPMENT. DISTRICT URBAN; RE- NEWAL'AREA OF. THE CITY `OFTY DUBUQUE; COUNOF•..DUBU- QUE, STATE OF IOWA, BY AND FOR` THE BENEFIT'. OF '..._THE STATE OF IOWA, CITY OF DUBUQUE,.COUN- TY OF.,DUBUQUE, DUBUQUE COMMUNI- • TY SCHOOL. DIS- TRICT, 'AND OTHER TAXING DISTRICTS, BE PAID TO A SPE- CIAL FUND FOR PAY- •`MENT OF PRINCIPAL AND INTEREST ON �,LOANS,'MONIES AD- VANCED TO AND. IN- DEBTEDNESS,,, IN- CLUDING BONDS IS- SUED 'OR TO BE - IS- SUED, INCURRED BY SAID CITY IN ;CON- ' NECTION WITH THE AMENDED AND., RE- STATED DUBUQUEIN- DUSTRIAL ' . CENTER ECONOMICDEVELOP- MENT DISTRICT UR- BAN R BAN RENEWAL REDE- VELOPMENT PRO- ' JECT •' WHEREAS, the Amended and Restated • Urban' Renewal Plan fo the' Dubuque Industria TelegraphHerald,com Telegraph: Herald • Wednesday Ordinance, Number 49- 16 .is hereby amended to read as follows; .. Section 1.: For pur- poses of this Ordi- nance, the following terms shall have the following meanings::`• (a) Original Project Area means that por- tion, of the City of Dubuque, - Iowa ' de; scribed in the Urban Renewal Pun for the District • approved by Resolution No. 130-88 on May 2, 1988, and subsequently'. amended by :Resolrition No: 484- 90 on December 17, 1990, which. Original Project Area includes the lots and parcels lo- cated withinthe area now legallydescribed as follows: All of'Dubuque Indus- trial Center Eighth Ad- dition; and All of Lot 11 Dubuque Industrial Center s13th Addition; and • Lot 2 Dubuque.IndUs- trial Center..3th Addi- tion; and Lot 1-2-2 Dubuque In dustrial Center Fifth Addition; and • Lot 1 Dubuque Indus- trial Ceriter fifth' Addi- tion; and 'Lot1 Dubuque Indus- trial Center •lith Addi- tion. and Lot 1 of 2 of Dubuque Industrial Center Fifth Addition; and . • Lot 1 of 2 of Dubuque Industrial , Center Fifth Addition; and Lot 1-3' Dubuque In- dustrial Center 12th Addition; and Lot 1 of lot 3 of final plat of lot 1 of Dubuque Industrial , Center First Addition; and "Lot 1cDubuque Indus- trial Center 10th Addi- tion and Lot 2-3 Dubuque In- dustrial Center 12th Addition; and Lots 1 & 2 of final plat of lot 1 of Dubuque, In- dustrial Center. First Addition; and Lot 1 Dubuque Indus- trial Center 12th "Addi- tion; and • - Lot 2 Dubuque Indus- trial Center Ninth Addi- tion; and ' _• < . Lot 2 Dubuque Indus. trial Center 12th Addi-,• tion; and Lot 2-2 Dubuque In- dustrial Center Sixth 'Ad `dition; and •Lot <3 Dubuque Indus- ''ti'ialtenter'Ninth Addi- tion; and Lot 1 DubuqueIndus- trial Center Sixth: Addi- tion; and• Lott of 2 Dubuque In- dustrial Center 7th Ad- dition; and • Lot 2-1 Walter Addi- tion; and Lot 2-1 Walter Addi- tion; and And all adjoining pub- lic right-of-way, all. in the City of Dubuque, Dubuque County, Iowa. .The Original Project southwesterly continu- ing along said center- line 845 feet, more or less, to a point where, the railroad:right-of- way widens to 200 feet, said point being , the terminus of•,this de- scription; and .! all that part of a 100- foot -wide strip, of the Chicago Central Pacific Railroad right-of-way lying 'in the Balance, of Lot 1 of 1 of the South- west , Quarter 'of the Southwest' 'Quarter in Section 29, : Township 89: North; Range -2 East, 5th Principal Meridian; and • ' any' adjoining public' street right-of-way all in the City of Dubuque, Dubuque County, Iowa. (c) Subarea C means ,that portion of the City of. Dubuque, Iowa de; scribed as Subarea C in the Amended. and - Re- stated Urban Renewal Plan for the District ap- proved by Resolution No: 101-08 on March 17, :2008,• which Sub- area C includes the lots and ;parcels •,located within the.area legally` described as follows: Lots 1:::and 2• of Dubuque Industrial Center •North Second Addition; and Lots ,2,•3,.0 and A of Dubuque Industrial Center„North First .Ad- dition, . excepting that Part of said•LotA origi-s nallyplatted asLot 2 of the SW/4 ' of'the:NW I/4 of,Sec. :30, T89N, R2E of the 5th PM; and and any adjoining public. street right-of- way, all in the City of Dubuque, Dubuque County, Iowa, EXCEPT those lots and parcels now form- ing Subarea K. • (d)Subarea D means that portion of the City of Dubuque, Iowa de- scribed as Subarea D in the 'Amended ,and Re stated Urban Renewal. Plan for the' District ap- proved by Resolution No. 109-08. on April • 7, 2008,,which.Subarea D' includes the lots and parcels located within the area, legally de- scribed as follows: Lots 1, 2, and B and all of the right of way; of Chavenelle Court in Dubuque . Industrial Center West 8th Addi- tion : in the, . City of. Dubuque, Dubuque County; Iowa. • (e) Subarea E means that portion of the City of Dubuque,<Iowa, de- scribed as Subarea E in the Amended and Re- stated Urban. Renewal Plan for the District by Resolution No. 87-11 on March 7, 2011, which Subarea E includes the ,lots and parcels located within the area legally de- scribed as follows: _All •of Lot ,1 1 and ,City of Dubuque, loWa. Lot 1 of Lot 1 of the Northwest, Quarter.. of the Northwest Quarter of :'Sectibn 29, •Town- ship 89 North, Range 2 East of the 5th Princi- pal Meridian, in the City of Dubuque, Iowa. Lot 2" of. McFadden Farm Place #2, in the City of Dubuque, Iowa. • Lot 2' of McFadden Farm Place,. in the City of Dubuque, Iowa. Lot .A,of Lot 1 of.1 of the Southwest Quarter of the Southwest Quar- ter of .• Section 29, Township 89 North, Range 2 East of. the 5th Principal': Meridian, in the City of .Dubuque,, Iowa. Lot A of. Lot 1 of 1 of the Northwest' Quarter of the Southwest Quar- ter of :Section 29,s Township -.89 North; Range 2 East of the, 5th Principal -Meridian,: in the City:. of Dubuque; Iowa. All ° in :the , City `• of Dubuque,, Dubuque County, Iowa. (h) Subarea H means that portion of the City of Dubuque,Iowa,. and• Dubuque County' de- scribed as' Subarea. H in the 'Amended, and Re- stated Urban Renewal Plan for the District ap- proved by., Resolution No.'332-16 on Septem- ber 19,. < 2016, which. Subarea, Hincludes<the lots and. parcels locat- ed within the , area legally , described' as follows: . a Lot 1 of the Northeast IAof'the Northeast` 'A, and Lot 2 of Lot 1.. of Lot 1 of Lot 2 of the North- east 1/4 of the' Northeast /4 ', 'of Section' 30,; in Township 89. North, Range''2' East of the 5th Principal Meridian, in the City of Dubuque, Iowa.: (I)' Subarea I means that portion of the` City of Dubuque, Iowa, and Dubuque County: de- scribed as Subarea I in the Amended and'"Re Renewal - stated Urban Renewal Plan for the District ap- proved by - Resolution No. 332.16 on Septem- ber •19,:• 2016, which Subarea 1 includes the lots and parcels locat- ed: within the area: legally ' described ' as fol lows: Lot 2 Seippel Road Place #2, Dubuque County, Iowa. Lot 2-1-1 of the South- east: Quarter of the Southeast Quarter'' of Section `25, Township 89 North, Range 2 East of the'5th Principal Meridian, Dubuque ,,County, Iowa I (j) Subarea J means that portion of the `City of Dubuque, Iowa; and Dubuque County> de- scribed as Subarea J in the Amended ,and 'Re stated Urban i{er(ea • sum ;of, the,; assessed value of, the.taxable property: in the Original Project Area as shown on the_assessment, roll as of January; 1, 1987, beingl the: first day : of the calendar year pre- ceding •the effective' date of• Ordinance :No. 26-88; shall' be allocat- ed to and when collect- ed be paid,into the fund for the respective taxing district as taxes by or-" for said taxing. district 'into which . all other property taxes are paid. The.. taxes so determined shall be re ferred • herein as the, "base period taxes" for such: Subarea. As to•Subarea B, base period taxes shall - be computed in the same manner, using the total assessed. value• shown on the assessment roll as, of January. 1, 1996, being then assessment roll,: applicable to prop- erty: in such Subarea as of January 1 of the cal- endar• ,.year preceding the effectiive. date of - Ordinance No. 66-97. • As: to Subarea C (ex- cept •the -lots :and parcels, now . forming Subarea K), base peri- ' od<taxes shall be com- puted ,in' •the same. manner using the total. assessed value •'shown on: the assessment roll as ;of January 1,, 2007, being the assessment: roll applicable to.prop- erty in•such'subarea as of January 1. of -the cal- endar year ;preceding the ` effective date. ;of Ordinance No. 70-08, and; base values shall be reduced due to the removal of area from Subarea C. As to Subarea D, base period taxes: shall the computed in' the same manner using the total assessed value shown. on the assessment roll as of January 1, 2007, being the assessment roll applicable to prop- , erty in such subarea as. of'January :1. of the cal- endar year preceding the effective date of Ordinance No. 70-08. As to Subarea E, base period taxes` shall be computed in the same manner using the total assessed,, value' shown on the assessment roll as of January 1, 2013, being the- assessment roll applicable to prop- erty in such subarea as of,Januaryr1: of the cal- endar year preceding the effective date ; of Ordinance No.10-14. As to Subarea F, base period.: taxes shall be computed in the same manner using the: total assessed value shown on the assessment roll as of January 1, 2014, being the assessment roll applicable to prop - • erty, m such:subarea as ,r,ofjanuerly 1,of,thg cal- monies advanced 'to, or indebtedness; whether. funded, refunded, as- sumed or otherwise, in- cluding bonds r issued under authority of Sec- tion 403.9 or Section 403.12' of, the Code :of e Iowa, incurred' by the City of Dubuque,•' Iowa to finance or refinance, in whole or in part, ur- ban renewal projects undertaken within the Amended Project Area pursuant to the: Urban Renewal: Plan, except that .taxes for the regu- lar and voter -approved physical plant and equipment ,levy : of a school district imposed pursuant to Section 298.2 of, the Code; of Iowa and taxes for the instructional support program of ,a school district, imposed',pur- suant to Section 257.19 (but in each case only to the'. extent, required under ;'Section 403,19 (2)), taxes for the pay- ment of bonds and in- terest n= terest;;of each taxing; district, and taxes im- posed under Section 346.77 (22) reiated'to joint county -city: build- ings, shall uild=ings,;shall be collected against all taxable`: property within: the Amended Project Area without any limitation as hereinabove:provid- ed ,Section 5: Unless or untjl the totaPassessed valuation of the tax- able :•property• -in -;the subareas of the Amended Project Area exceeds the total as- sessed ,value of the tax- able property in `.'said subareas shown by the assessment rolls re- ferred to in Section 3 of this Ordinance,'all of the taxes-; levied and• collected upon the tax- able property ' in the Amended• Project Area shall be paid into the funds for the respec- tive taxing districts as' taxes by or for' the tax- ing , districts . in the same manner~ as: all other property taxes.' Section 6: At such time as the `. loans, monies advanced, bonds. and .interest thereon and indebted- ness of the City of Dubuque referred to in Section 4 hereof have been. paid, all monies there ,f . received from,' taxes upon the taxable property in the Amended Project Area shall be paid into the funds for the respec- tive taxing districts in the same manner as' taxes, on all other prop- erty. Section 7: All. ordi- nances or parts of ordi- nances in conflict .with the provisions of this Ordinance are hereby' repealed. The ;' provi- sions of this Ordinance are intended;aq shall VV,ILRLH Amended and Restated Urban Renewal Plan for the Dubuque Industrial Center,I Economic, . De- - velopment District (the. District) described '.in Resolution No. 130-88 • was adopted on May 2, 1988 and was there- after amended and re- stated by Resolution No. 484-90 on: Decem- ber 17, 1990, Resolution No. 142-97 on AprIl 7, 1997, Resolution No. 478-97 on November 17, 1997, Resolution No: 15-08 on January 7, 2008, Resolution No. 101-08 on March 17, 2008, Resolution No. 109-08 on April 7, 2008, Resolution No. 87.11 on March 7, 2011,' Resolu- tion No; 171-13 on June 3, 2013, Resolution No. 197-15 on June 1, 2015, Resolution No. 309-15 on September ,8, 2015; Resolution. No. 132-16 on, September 19, 2016, and Resolution No, 159- 18 and, Resolution .No. 160-18 on May 21, 2018 (as amended' and re- stated, the Urban Re- newal Plan or Amended and Restated Urban Re- , newel • Plan) and. WHEftEA5 the City Council of the City of, Dubuque 'Iowa ' origi- nally , rigi-nally, provided for the division .of taxes: pur- suant to'Section '403,19 of the Code .of: Iowa within the District in Ordinance No.;, 26-48 passedand approved on May 2,, 1988 and, thereafter amended "and' restated by Ordi- nance No: rdinance''No. 63-88 on De- cember,: 5 •1988, by Ordinance No...66-97 on NoVerhber 17,- 1997, by Ordinance No. 70-08 on October 20, 2008, by Ordinance No. 10-14 on February 3;;2014.by Ordinance No. 39-15 on June 1, 2015, by Ordi- nance No. 55-15 on September 8, 2015, and by, Ordinance" No. 4946 on September 19, 2016; and WHEREAS indebted- ness has been incurred by the City, and addl.!. tignal;in•debtedness is anticipated to be in curred in'the' future • to finance urban: renewal project activities with in the District,';and the continuing needs of,re-, -development i•r: within the District are such as `to `require the . contin- ued application of the incremental tax re- sources of the District; and • WHEREAS, the follow- ing enactment-is.nec- essary to accomplish the . objectives • de-. scribed in the premis- es. NOW," THEREFORE, BE IT ORDAINED BY THE CITY. COUNCIL OF THE CITY • OF DUBUQUE, lic right-of-way, all in parcels iocatea witnin the City of Dubuque, the area legally de - Dubuque County, Iowa. scribed as follows: ', -The Original Project _All .of Lot]. of 1 and Area ,is referred to as Lot 1 of 2 of th'e South "Subarea A" in the Ur- Fork Subdivision No. 1 ban Renewal Plan here-, as originally platted, inafter described. (b)'Subarea B means including any adjoining public -street right -of - that that portion of the Cityway to said tot, all in • of Dubuque, Iowa de- the City of Dubuque, scribed as Subarea B in Dubuque County, Iowa; the Amended and Re- and; stated Urban Renewal All of Seippel Road Plan for the District ap- right of•.way :from' the proved by. Resolution north boundary line of 'No. 478-97 on Novem- Lot 1 of 1 of South Fork ber 17, 1997, and sub- Subdivision,No.' 1 in the sequently amended by city` of Dubuque, to the Resolution No. 15-08 on ` south boundary lines of January 7;'2008, which Lot H of Dubuque In- nSubarea B includes the dustrial Center West lots and parcels locat- and Lot 1"'of`Dubuque ed within the area Industrial Center West legally described as 2nd Addition in the City follows: of "Dubuque, Dubuque Lots 1, 3, 4, 1 of 5, 6 County Iowa; including and 11 of Dubuque In- crossings at the'in ter dustrial Center West as sections of •Old High originally platted; and way Road and Chicago Lots 1, 2, 3, 4, 5, 6, 7, 8, Central & Pacific Reil- and `C of Dubuque 1n- road rights -of -Way. dustrial- Center West (f);Subarea,F means 2nd Addition as origi- that portion of the City. nally platted; and of Dubuque, lowa, and Lots 1, 2, 3, 4, B, and•C Dubuque County 'de- of Dubuque Industrial scribed as Subarea F in Center West 4th Addi- the Amended', and" Re- tion as originally plat- stated Urban Renewal ted; and '': " plan for the district ap- , Lots 1' of 1,1 of 2,2 of proved by ,Resolution 2, 1 of 3, 2 o 3,•1 of 5 No. -197-15 on -June 1i A, C, and D of Dubuque 2015; which Subarea F Industrial' Center West includes the lots and .5th Addition as origi- parcels loc ted within nally platted; and the; area legally. de- Lots 1, 2, and A of scribed as follows: -Dubuque Industrial . Lot -one (1)- of Graf Center West 6th Addi- Farm Subdivision #2, tion as originally plat- Dubuque County, Iowa, ted; and according 1. to the • Lots 1,"1 of 2, and 2 of recordedplatthereof;' 2 of Dubuque Industrial Lot l ofLotil•of Lot 1' Center West 7th Addi- of Lot 1'of West One tion as originally plat- half of Northeast One - ted, andquarter, Section" 25, Lot2 of "r of the Township' 89 North, Southwest Quarter 'of " •Range 1 East of the 5th the Southwest Quarter , Principal,. Meridian, in and Lot:2, of_1 of the Center - • Township;, Southeast Quaiter . of Dubuque County, Iowa; the Southwest Quarter -i_; Lot 2in W.A. Norman; all in Section 30, Town- place" in Section ,`25, ship 89 North, Range 2 center Township,: East, 5th Principal DubuqueaCounty,Iowa," Meridian as originally ,accordin0 to the plat platted; and thereof; and , and all that part of a The NW 1/4 of the SE 100 -foot -wide strip of 1/4 of Section' 25,' the Chicago Central Township 89 North, Pacific" Railroad right- Range 1,East of the 5th Of -way lying in the SE P ., in Center Town 1/4 of Section 30, the • ship, Dubuque County, SE 1/4 of the SW 1/4 01 Iowa. Section 30, the NW 1/4 (g) Subarea G&means -of -Section ,-31,.and :the ." that portion of the City NE 1/4 of Section 31 all of Dubuque, Iowa, and -In T89N, R2E,iof the 5th - Dubuque County de- P.M. Dubuque County, " scribed as Subarea G in Iowa, the centerline of the Amended -and --Re- which is more particu- stated Urban Renewal larly described as fol Plan for the District ap- lows: beginning at a proved, by Resolution point of intersection . No. 309-15 on Septem- with the: easterly line of ber,$4015,:which Sub - the SE 1/4= of Section • area'G includes the lots 30, T89N, R2E, of the ' and •"''parcels located 5th P.M., thence south- within the area legally westerly.along the den= described as follows: terline of said railroad The South one-half of 2,700 feet, more or'less ' the#,Northwest Quarter a point of intersectionof„Election 29, Town- with the westerly line 'ship 89'North, Range 2 of the SE 1/4 of said East of the 5th Princi-; Section > 30; thence pa(;' Meridian, in , the Uuouque county ae- uepty cne aasesmngm scribed as Subarea "J in roll applicable to prop- the Amended ,arid; Re- ertyin,such;subarea ;as stated Urban Tienewal O,of yaniu ry .1.oftthtGal- Plan for the District ap ,t,endan'yeari precedilg proved by Resolution the effective date :of No. 332-16 on Septem- Ordinance No. 39-15. ber 19, 2016, which As to Subarea G; base Subarea J includes the period taxes shall be lots and parcels locat- computed in th'e same ed within, the area' manner using the total legally_ described as assessed value •shown follows: on the assessment roll Lot 2 Julien' Care as of January 1, 2014, Place, Dubuque Coun- ,being the . assessment. ty, Iowa. roll applicable to prop - Lot 3 Julien` Care erty in such subarea as Place, , Dubuque Coun of January 1 of the .cal= ty, Iowa endar year preceding Lot 2-1 Julien Care • the effective date of Place, Dubuque Coun- Ordinance No, 55-15. ty, Iowa As to Subarea H, base (k) Subarea K means period taxes shall , be that portion of the City computed in the same of Dubuque, Iowa, 're- manner using the total moved from Subarea C assessed value shown of the District by. Ver- on the assessment roll sion ` 2018.1 of the as of January 1, 2015, Amended and Restated being the. assessment Plan for the District ap- roll applicable to prop - proved. by Resolution ertyin such subarea as No. 159-18, ands addedof- January ;r1 of the cal - to the District by Ver- endar year preceding 'stun - 2018.2' of ' the ' the effective date of Amended and. Restated Ordinance No 49-16." Plan for the District ap As to Subarea I, base proved -by Resolution • period taxes shall, ;be No. 160-18 as Subarea computed in the same K, all on May 21; 2018, manner using the total which Subarea • K in-, . assessed value shown dudes ,,the lots and on the assessment roll parcels :located .-within as of January 1..2015 th'e area legally de-. "being tha;assessment scribed'as follows: roll applicable to prop Lot 1 of Dubuque In erty in such subarea'as dustrial Center North ofrdanuarysl ofthe cal Third Addition, in the endar year; preceding City_ofDubuque, Iowa. 'the effective date 'of (1) Amended Project Ordinance No. 49-16. 'Area means that por- As to Subarea J, base" tion : of the • .City of period taxes shall be Dubuque, Iowa. and . computed 'in the same` Dubuque County in- • "manner using the total cludedWithin the Origi- " `asessed' value shown nal Project,- i Area,on the assessment/roll Subarea B, Subarea C as„of=January 1, 2015; (except those lots and ",being the assessment parcels now, forming roll applicable to prop Subarea K), Subarea D, erty in such subarea as Subarea, E, Subarea F, •"' of•January 1 of the cal- Subarea G, Subarea H, endar year preceding; Subarea I,- Subarea J, the effective' date of and Subarea K, each as • •Ordinance No. 49-16. described in this Sec- As to Subarea K, base', tion period taxes shall be Section 2; The taxes computed in the same levied on the taxable man ner using the totat property in the Amend- assessed>value shown ed Project' Area, and on -the assessment roll each subarea thereof, as of January 1, 2017; legally'; described in being' the assessment ' Section 1 hereof, by 'roll applicable to prop- and for the benefit. of erty in such: subarea as the State of Iowa, City ;of January.'1 of the cal - of Dubuque, County of, -endar, year preceding Dubuque, Dubuque_ the` -effective data of Community School Dis- this Ordinance No. 18- trict, and all other tax- 18, ing districts, from andSectiop 4: That pori after the effective date - tion of the taxes each "of this Ordinance shall year; in excess of the be divided ;as here- base period taxes for inafter in this Ordi- the Amended Project nahce provided. Area, determined for. Section 3; As to the each sub=area thereof. Original Project Area, as ‹provided in Section that portion of the tax- 3 of 'this Ordinance; es which would be pro- shall be allocated to duced by the rate at . and when collected` be which the tax is levied paid into the special each .year by or for tax increment fund each of the taxing dis- previously established tricts taxing, property by the' City of Dubuque in the Original Project to pay the,, principal of Area. upon . the -total and, interest on loans, VI.ul,ta,i a a,e': uie,e&y repealed. The.: provi- sions of this. Ordinance are intended,7Orjq "shall be construed so as to continue the division of taxes from taxable property in the; Amend- ed Project Area, under, the provisions of Sec- tion 403 ection-403 19 of. the, Code of lowa as, authorized in Ordinance No. 49-16. In, the event, that any. provision of this Ordi- nance shall \be deter- mined to be contrary to law; it' shall not affect other provisions or ap- plication of this "Ordi- nance which shall at all times''be construed to fully;'tn�7oke tjie provi- sion of Section 403.19 of the Code • of . Iowa with reference' to the Amended Project Area and the subareas con- tained therein. Section 8: This Ordi- nance shall be.in effect after its final passage, approval and publica- tion' as provided by law. • Passed and approved this ,21st day of May 2018.;. /s/Roy Buol, Mayor Attest; %s/Kevin S. Firns, 2tahl City Clerk 21 Rea0d 18 first time May Passed and approved: May 21 2018 Published May 25ti It 2015/28 3 5