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Peru Road Urban Renewal District - Repealing Ordinance Copyrighted December 17, 2018 City of Dubuque Action Items # 4. ITEM TITLE: Peru Road Urban Renewal District- Repealing Ordinance SUMMARY: City Manager recommending approval of the ordinance repealing the TIF Districtforthe Peru Road Urban Renewal Area. ORDINANCE Repealing Ordinance No. 45-17 Providing for the division of taxes on taxable property in the Peru Road Economic Development District Urban Renewal Area, City of Dubuque, lowa pursuant to Section 403.19 of the Code of lowa SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Motion B; Motion A ATTACHMENTS: Description Type Repealing Tax Increment Ordinance Peru Road-NNM City Manager Memo Memo Staff Memo Staff Memo Original TIF District Map Supporting Documentation Original Ordinance 45-17 Supporting Documentation Ordinance Repealing Ordinance 45-17 Ordinance Suggested Nbtion Wording Supporting Documentation THE CTTY OF Dubuque � u��A.eriw flh UB E �� , Masterpiece on the Mississippi Z°°'�w'Z 2013•2017 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Repealing Tax Increment Ordinance for the Peru Road Urban Renewal Area DATE: December 13, 2018 Economic Development Director Maurice Jones is requesting City Council approval of the ordinance repealing the TIF District for the Peru Road Urban Renewal Area. I concur with the recommendation and respectfully request Mayor and City Council approval. �L;� 1��, ��.� Mic ael C. Van Milligen �� MCVM:sv Attachment cc: Crenna Brumwell, City Attorney Teri Goodmann, Assistant City Manager Cori Burbach, Assistant City Manager Maurice Jones, Economic Development Director 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: Repealing Tax Increment Ordinance for the Peru Road Urban Renewal Area DATE: December 12, 2018 INTRODUCTION This memorandum transmits for City Council review and adoption an ordinance repealing the tax increment financing district (TIF District) for the Peru Road Urban Renewal Area (Area). The proposed ordinance was reviewed by the City Attorney's Office and the City's bond counsel and is attached to this memo. BAC KG RO U N D On December 4, 2017, the City Council approved Resolution 382-17 finding that the Peru Road Urban Renewal Area is a mixed area for the remediation of blight and promotion of economic development (commercial and industrial) and is appropriate for urban renewal activities. Subsequently, the City Council passed Ordinance 45-17 creating a TIF District in the Peru Road Urban Renewal Area. On November 5, 2018, the City Council approved a Resolution of Necessity finding that a proposed "Subarea B" should be created and added to the Peru Road Urban Renewal Area by adoption of a proposed Amended and Restated Urban Renewal Plan. If the Amended and Restated Urban Renewal Plan is adopted, the original property included in the Urban Renewal Area would be known as "Subarea A." DISCUSSION Under Section 403.19 of the Code of lowa, urban renewal areas may utilize the tax increment financing (TIF) mechanism to finance the costs of public improvements, economic development incentives, or other urban renewal projects. TIF is funded through the division of property tax revenues from within only those portions of an urban renewal area that are also designated by ordinance as a TIF District. Upon establishment of the TIF District within the Area, by ordinance, and, for new urban renewal areas, the City's certification of debt in the Urban Renewal Area to the County, the assessment base in the TIF District is frozen and the amount of tax revenue available from taxes paid on the difference between the frozen base and the increased value, if any, is segregated into a separate fund for the use by the City to pay costs of the eligible urban renewal projects. Certain increased taxes generated by any new development, above the base value, are distributed to the taxing entities, if not requested by the City, and in any event upon the expiration of the TIF District. With the adoption of Ordinance No. 45-17, the entire Subarea A was designated as the TIF District. However, no division of property tax revenues in the current TIF District (only including Subarea A) has begun, because the City of Dubuque has not yet certified any debt in this TIF District. Customarily, following adoption of the proposed Amended and Restated Plan for the Peru Road Urban Renewal Area, which establishes a new Subarea B, the City would also adopt an ordinance to amend the TIF District to include the new Subarea B. However, it is anticipated that there will be different timelines for development in Subarea A and in Subarea B, such that the City may want to establish different frozen base values in the two subareas. Accordingly, it is in the City's best interest for economic development purposes to repeal Ordinance 45-17, repealing the current TIF District. By so doing, the City will be better positioned to provide appropriate incentives for economic development in the future, at which time the City may propose a new ordinance to establish a TIF District in Subarea A and/or Subarea B, as is warranted by development of the Subareas. RECOMMENDATION/ ACTION STEP I recommend that the City Council approve the ordinance attached hereto repealing the TIF District for the Peru Road Urban Renewal Area. � i�' ..4 f�� K 5 � �� y • n ., (�- r ' �' � -' ' � � ` � '� ;# � �a"v-t n� , r'i � t �� . !�y `� � � # 17\ , \Fx � t 1 . ^ �,��y�� (.. ��; � y�e � � � , r• , y , i � � _ �; '� �y ��` �3s� �. . ~� �{' : , � � �, �� f�� . . � y � ,. � y� y4y,' �61 � ,�•£ � � b -.. ��,�' *�s� .� di �b� �� y� ' E1 � 'q� . ' � _ . -� � , r , ss ,� � 1 ti i � 'r �.�. ' - , � .. � y. 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H � ��Ut10�J�! o u�,� k3�Jt� 7�1,13N3� Nb9�f1 d�'O�J 11�3d�Ol o �o �.�1� �nbn�na � �-0 3a�d��ra�c� - oa� w �� ?'�� _ ��d f�t��6U� ll lbl�l0O0-LIOZ --_.__...___---�--._�...___--__--�-------� ��¢ �unc,uit� au,t1 pap.��7a� Q1 �u3mn,i�su; �zr;ri �'�^ ., I.IOZ(LOi'Zl ��npa��aN �apr] �o�� ,.-, IQOZ� H1 �!1C1r19n�J �w�� 0 13�N.1S Hl�l 1S3P1 Q5 �w e� � _ .1N��dC��3��30 �IWONC�J�_l;lI�:�fl�flf�(1C _ 0 0�;r� �n b0�y�0 ur' 0� ��Q p W�' (�Z�L��arJ �� LtO�'iZl/Zl uo pa�u�.�dau � u�8nU0n0- � � � , � 2 Ll,l� �ldta�ay �Ct'�1�1�_� � � ' � bEt7b Ga5(C9�) ;.�aquinN au��d 100Z.� b'I `an�inqnn '�np' (�J1U�� QGL .IB�_Ir��a .!!�dJliW Ul��(' �rrto� f�une� anbnqn�, wo o � � O � � OU � � = w � w � uj o a � J o ] o � � � o Q Q = z > X Q � � � � m � p Z � � o Z w U � a w � = W Q o C7 � � � � � m � o � w o � 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. 47-18 REPEALING ORDINANCE NO. 45-17 PROVIDING FOR THE DIVISION OF TAXES LEVIED ON TAXABLE PROPERTY IN THE PERU ROAD ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL AREA, CITY OF DUBUQUE, IOWA, PURSUANT TO SECTION 403.19 OF THE CODE OF IOWA WHEREAS, the City of Dubuque ("City") adopted the Peru Road Urban Renewal Plan ("Plan") for the Peru Road Economic Development District Urban Renewal Area ("District") by approval of Resolution No. 382-17 on December 4, 2017; and WHEREAS, on December 4, 2017, the City also adopted Ordinance No. 45-17 providing for the division of property tax revenues on taxable property in the District under Iowa Code Section 403.19; and WHEREAS, no debt has been certified for reimbursement through the division of property tax revenues under Iowa Code Section 403.19 in the District and there are no current obligations under the Plan to be paid from any fax increment within the District; and WHEREAS, the City has determined that the goals and objectives of the Plan will be best carried out by delaying the division of taxes on taxable property in the District; and WHEREAS, accordingly, the City has determined to repeal any ordinances providing for the division of taxes levied on taxable property in the District. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That Ordinance No. 45-17 providing for the division of property tax revenues in the District under Iowa Code Section 403.19 is hereby repealed in its entirety and shall have no further effect as of the date of this Ordinance. Pg. 2 Ordinance No. 47-18 Section 2. All ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. Section 3. This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Passed and approved this 17th day of December 2018. ioJJ fay D. Buol, Mayor ATTEST: Read first time: December 17, 2018 Read second time: December 17, 2018 Read third time: December 17, 2018 PASSED AND APPROVED: December 17, 2018 PUBLISHED: December 21, 2018 1t 12/21 2 11 II UI I III II III I I I I III 11111111111 IIIIIItI II Doc ID: 010224170008 Type GEN Kind ORDINANCE Recorded: 12/21/2018 at 01:25:03 PM Fee Amt: $42.00 Page 1 of 8 Dubuque County Iowa John Murphy Recorder F11e2018-00015036 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. 47-18 REPEALING ORDINANCE NO. 45-17 PROVIDING FOR THE DIVISION OF TAXES LEVIED ON TAXABLE PROPERTY IN THE PERU ROAD ECONOMIC DEVELOPMENT DISTRICT URBAN RENEWAL AREA, CITY OF DUBUQUE, IOWA, PURSUANT TO SECTION 403.19 OF THE CODE OF IOWA WHEREAS, the City of Dubuque ("City") adopted the Peru Road Urban Renewal Plan ("Plan") for the Peru Road Economic Development District Urban Renewal Area ("District") by approval of Resolution No. 382-17 on December 4, 2017; and WHEREAS, on December 4, 2017, the City also adopted Ordinance No. 45-17 providing for the division of property tax revenues on taxable property in the District under Iowa Code Section 403.19; and WHEREAS, no debt has been certified for reimbursement through the division of property tax revenues under Iowa Code Section 403.19 in the District and there are no current obligations under the Plan to be paid from any tax increment within the District; and WHEREAS, the City has determined that the goals and objectives of the Plan will be best carried out by delaying the division of taxes on taxable property in the District; and WHEREAS, accordingly, the City has determined to repeal any ordinances providing for the division of taxes levied on taxable property in the District. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 1. That Ordinance No. 45-17 providing for the division of property tax revenues in the District under Iowa Code Section 403.19 is hereby repealed in its entirety and shall have no further effect as of the date of this Ordinance. Pg. 2 Ordinance No. 47-18 Section 2. All ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. Section 3. This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Passed and approved this 17th day of December 2018. ATTEST: Keviirnstahl, City Clerk Read first time: December 17, 2018 Read second time: December 17, 2018 Read third time: December 17, 2018 PASSED AND APPROVED: December 17, 2018 PUBLISHED: December 21, 2018 1t 12/21 2 D. Buol, Mayor CERTIFICATE of the CITY CLERK STATE OF IOWA ) SS: COUNTY OF DUBUQUE ) I, Trish L. Gleason, do hereby certify that I am the duly appointed, qualified, Assistant City Clerk of the City of Dubuque, Iowa, in the County aforesaid, and as such Assistant 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. 47-18 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 19th day of December, 2018. Trish L. Gleason, Assistant City Clerk +! 'II! n ,� .44" Doc ID: 008749870005 Type: GEN Kind: ORDINANCE Recorded: 12/07/2017 at 11:09:40 AM Fee Amt: $27.00 Page 1 of 5 Dubuque county Iowa John Murphy Recorder File20 17-00015141 Prepared by Jill Connors, Economic Development, 50 W. 13th St., Dubuque, IA 52001, 563-589-4393 Return to Kevin Fimstahl, City Clerk, 50 W, 13th St, Dubuque, IA 52001, 563-589-4100 ORDINANCE NO. 45-17 PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE PERU ROAD 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 URBAN RENEWAL PLAN FOR THE PERU ROAD URBAN RENEWAL AREA WHEREAS, the Urban Renewal Plan for the Peru Road Urban Renewal Area was adopted, pursuant to Resolution No, 382-17 approved on December 4, 2017 for the purpose of creating the Peru Road Urban Renewal Area (the "Area") located in the area legally described as follows: Lot 1 of Great Western Subdivision No. 1, and also including the Public Right of Way of Jackson Street abutting thereto; and Lot 2 of Great Western Subdivision No. 1; and Lot 1 of Great Western Subdivision No. 4; and Lot 2 of Great Western Subdivision No. 2; and Lot 1 of Great Western Subdivision No. 2, and also including the Public Right of Way of Jackson Street abutting thereto. All in the City of Dubuque, Iowa and WHEREAS, indebtedness will be incurred by the City to finance urban renewal project activities within the Area in furtherance of the objectives of the Urban Renewal Plan for the Area; and WHEREAS, the foliowing 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: Section 1: For purposes of this Ordinance, the following terms shall have the following meanings: a) Urban Renewal Area includes the following described properties: Lot 1 of Great Western Subdivision No. 1, and also including the Public Right of Way of Jackson Street abutting thereto; and Lot 2 of Great Western Subdivision No. 1; and Lot 1 of Great Western Subdivision No. 4; and Lot 2 of Great Western Subdivision No. 2; and Lot 1 of Great Western Subdivision No. 2, and also including the Public Right of ay of Jackson Street abutting thereto, All in the City of Dubuque, Iowa b) Urban Renewal Plan shall mean the Urban Renewal Plan for the Peru Road Urban Renewal Area, approved by Resolution No. 382-17 on December 4, 2017 as the same may be amended from time to time. Section 2: The taxes levied on the taxable property in the Urban Renewal Area, legally described in the Preambles and 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: That portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts upon the total sum of the assessed value of the taxable property in the Urban Renewal Area, as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the City of Dubuque certifies to the County Auditor the amount of loans, advances, indebtedness, or bonds payable from the division of property tax revenue -9- described herein, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for the taxing district into which all other property taxes are paid. The taxes so determined shall be referred to herein as the "base period taxes" for such Urban Renewal Area. Section 4: That portion of the taxes each year in excess of the base period taxes determined as provided in Section 3 of this Ordinance shall be allocated to and when collected be paid into the special tax increment fund hereby 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 Urban Renewal 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 lowa 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, taxes imposed under Section 346.27(22) related to joint county -city buildings, and any other exceptions under Iowa Code Section 403.19 in effect as of the date this Ordinance is adopted shall be collected against all taxable property within the Urban Renewal Area without any limitation as hereinabove provided. Section 5: Unless or until the total assessed valuation of the taxable property in the Urban Renewal Area exceeds the total assessed value of the taxable property in the Urban Renewal Area as 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 Urban Renewal Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes. Section 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 Urban Renewal Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. Section 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 property within the Urban Renewal Area under the provisions of Section 403.19 of the Code of Iowa. 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 Urban Renewal Area and the territory contained therein. -3- Section 8: This Ordinance shall be in effect after its final passage, approval and publication as provided by law. PASSED AND APPROVED this 4th day of Dec ber 2017. ATTEST: Kevi S. Firris aMf itv Clerk Roy D. BuolfMayor Read first time: December 4, 2017 PASSED AND APPROVED: December 4, 2017 PUBLISHED: December 8, 2017 -4- CERTIFICATE of the CITY CLERK STATE OF IOWA ) SS: COUNTY OF DUBUQUE ) 1, 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, l 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. 45-17 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 5th day of December, 2017. Kevi ' S. Firnstahl, CM , City Clerk Kevin Firnstahl From:Trish Gleason Sent:Wednesday, December 19, 2018 4:15 PM To:Denise.Dolan@dubuquecounty.us Cc:Kevin Firnstahl Subject:Public Hearing #1 DICW Urban Renewal Plan Amendment 2018.3 - Resolution of Adoption Attachments:Public Hearing #1 DICW Urban Renewal Plan Amendment 2018.3 - Resolution of Adoption.pdf Denise, City Clerk Kevin Firnstahl is out of the office for a few days. He has asked me to email you copies of th urban renewal documents passed at Monday, December 17 City Council meeting. The documents are too large to email together so I will send them individually. There are 6 documents in total. 2 for Dubuque Industrial Center West Area 2 for Peru Road Area 2 for Swiss Valley Area Please let me know if you have any questions or concerns regarding the documents I am sending. I will bring the hard copies of the documents to you tomorrow. 1 of 6 attached Kind regards, Trish L. Gleason, CMC, IaMFO, IaCMC Assistant City Clerk th 50 West 13 Street Dubuque, IA. 52001 563-589-4120 tgleason@cityofdubuque.org 1 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: December 21, 2018, and for which the charge is $25.31 Subscribed to before me, a otary Public in and for Dubuque County, Iowa, this el 8 day of e"m,„4, , 207r . lic in and for Dubuque Conm11ssinn Nu T RME /€R My Cnm,plasf n1b�r 1548b5 nn Exp. Feb. 1, 2020 OFFICIAL PUBLICATION ORDINANCE NO.47-18 REPEALING ORDI- NANCE NO. 45-17 PROVIDING FOR THE DIVISION OF TAXES LEVIED ON TAXABLE PROPERTY IN" THE PERU ROAD ECO- NOMIC DEVELOP- MENT DISTRICT UR- BAN RENEWAL AREA, CITY`. OF DUBUQUE, IOWA, PURSUANT TO SECTION 403.19 OF THE'CODE OF IOWA WHEREAS, the City of Dubuque (City) adopt- ed the Peru Road Urban Renewal Plan (Plan) for the Peru Road Econom- ic Development District Urban Renewal Area (District) by Approval`,, of Resolution No 382, 17 on December 2017; and,'= WHEREAS, on Decem- ber 4, 2017, the City also adopted . Ordi- nance No. 45-17 provid- ing' for rovid-ing'for the division of property tax revenues on taxable property in the District under Iowa Code Section 403.19;. and WHEREAS,no debt has been certified for reimbursement through the division of property tax revenues under Iowa Code Section 403.19 in the District ,' and 'there are no cur- rent obligations under the Plan to be paid from any tax increment within the District; and WHEREAS, the City has determined that the goals and objec- tives of the Plan will be best carried out by de=_ laying the division of taxes on taxable prop- erty in ropertyin the District; and WHEREAS, according- ly, the City has deter- mined to repeal •any ordinances providing for the division of taxes levied on taxable prop- erty in the District. , NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, STATE OF IOWA: Section 11 That Ordi- nance No. 45-17 provid- ing for the division of property tax revenues _in the District = under Iowa Code Section 403.19 is hereby re=; pealed in its entirety and shall have no fur- ther effect as of the date of this Ordinance. Section 2. ,All ordi- nances or parts ofordi- � nances in conflict`, with 1 the "provisions of this Ordinance are hereby repealed. Section 3. This Ordi- nance shall be in effect after its final passage, approval and publica- tion as provided by law. Passed and approved this 14th day of Decem- ber 2018 /s/Roy D. Buol, Mayor ATTEST: /s/Kevin S. Firnstahl, City Clerk Read first time: Decem- ber14,2018 Read second time: De- °cember 14;2018 Read .third time: De- cember 14, 2018 PASSED ,,AND AP- PROVED: December 14, 2018 PUBLISHED: December =21,;2018 1t 1:2/21