PPEL FY 04 TIF to Cty AuditorMEMORANDUM
April 17, 2003
TO:The Honorable Mayor and City Council Members
FROM:Michael C. Van Milligen, City Manager
SUBJECT:Certification of PPEL Revenue Requirements--City of Dubuque for FY
2004
Administrative Services Manager Pauline Joyce has submitted the FY 2004 Physical
Plant and Equipment Levy (PPEL) TIF Revenue Certification to Dubuque County
Auditor Denise Dolan.
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Pauline Joyce, Administrative Services Manager
CITY OF DUBUQUE, IOWA
MEMORANDUM
April 14, 2003
To: Denise Dolan, Dubuque County Auditor
From: Pauline Joyce, Administrative Services Manager
Re: Certification of PPEL Revenue Requirements-City of Dubuque for FY 2004
Senate File 2089 (passed in 1999 legislative action) was amended during the 2000
legislative session, requiring the County Auditor rather than municipalities to certify to
the K-12 school district by July 1 if revenues generated by the PPEL in the TIF districts
are needed to pay existing debt.
This letter is a request that you provide required certification to the school district that
the City of Dubuque requires the PPEL revenue generated on the incremental value in
the following TIF districts to pay existing debt during the coming fiscal year (July 1,
2003 through June 30, 2004). You will note that the PPEL$ column is labeled estimate,
since we don't have final tax rates for each of the taxing bodies for Fiscal Year 2004.
TIF District Outstanding Bond Debt Estimated PPEL $
Tech Park Industrial Center 1,246,173.01 7,952
Kerper Industrial Park 4,551,455.57 17,526
TOTAL $25,478
I have enclosed my project summaries for backup:
Per the new legislation, the school distdct is required to pay the City of Dubuque by
November 1, 2003 and May 1, 2004 the actual revenue generated by the PPEL tax rate
on the increment in each of these districts.
cc: Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
Barry Lindahl, Corporation Counsel
PROJECT DESIGNATION: DUBUQUE INDUSTRIAL CENTER\SOUTH (TECH PARK)
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.1B(2)
PROJ.
PROJECT TITLE FY SOURCE AMOUNT
USE OF DOLLARS
TOTAL PROJECT
1,117,568.71
TOTAL PROJECT
466,789.25
GRAND TOTAL FOR URBAN RENEWAL AREA 6-30~0t 1,584,357.96
LESS LIFE TO DATE RECEIPTS FROM DISTRICT THRU FY03 YTD 338,184.95
BALANCE TO COLLECT 1,2z[6,173.01
PROJECT DESIGNATION: KERPER BOULEVARD INDUSTRIAL PARK
ECONOMIC DEVELOPMENT DISTRICT
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19{2)
PROJ.
PROJECT ~TLE FY SOURCE
AMOUNT
USE OF DOLLARS
TOTALPROJECT
GRAND TOTAL FOR URBAN RENEWAL AREA 6-30-01 4,892,816.00
LESS LIFE TO DATE RECEIPTS FROM DISTRICT THRU FY03 YTD 341,3B0.43
BALANCE TO COLLECT 4,551,455.57