Tax Increment Financing Ordinance for the Greater Downtown Urban Renewal DistrcitMasterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Tax Increment Ordinance for the Greater Downtown Urban Renewal
District
DATE: August 10, 2010
On July 19, 2010, the City Council approved an amended and restated Urban Renewal
Plan for the Greater Downtown Urban Renewal District which added the Bluff Street
Subarea to the Urban Renewal District. The tax increment ordinance also needs to be
updated to allow for TIF collection on these properties.
Economic Development Director Dave Heiar is recommending adoption of an ordinance
amending the tax increment financing district for the Greater Downtown Urban Renewal
District.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Mict'Sael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
David J. Heiar, Economic Development Director
Dubuque
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Masterpiece on the Mississippi
Dubuque
AI- America City
2007
TO: Michael Van Milligen, City Manager
FROM: David J. Heiar, Economic Development Director
SUBJECT: Tax Increment Ordinance for the Greater Downtown Urban Renewal
District
DATE: August 5, 2010
Introduction
This memorandum transmits for City Council review and adoption an ordinance
amending the tax increment financing district for the Greater Downtown Urban Renewal
District. The proposed ordinance was reviewed by the City's bond counsel and is
attached to this memo.
Background
On July 1 2010 the City Council approved an amended and restated Urban Renewal
Plan for the Greater Downtown Urban Renewal District which added the Bluff Street
Subarea to the Urban Renewal District. The tax increment ordinance also needs to be
updated to allow for TIF collection on these properties.
Discussion
Adoption of the proposed tax increment ordinance is needed to establish the use of tax
increment financing in the recently expanded areas of the district. The ordinance
authorizes the City to establish a special fund for the collection of a portion of the
property tax revenues generated by new development occurring within the ten subareas
of the district. All taxable property located with the tax increment 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 will be used to assist in financing
future development projects within the district, including both public and private
development.
Adoption of the ordinance will continue the existing base valuations for the Original
Project Areas (all ten subareas). The new area, called the Bluff Street Subarea, will be
assigned its own base valuation date.
Recommendation
I recommend that the City Council approve the tax increment ordinance for the Greater
Downtown Urban Renewal District. Tax increment financing is an important tool for
economic development and will be used to assist future public and private development
efforts in the downtown, warehouse, and riverfront areas, including the Bluff Street
area.
Action Step
The action step is for the City Council to approve the amended tax increment ordinance
attached hereto.
attachment
F: \USERS \Eton Dev \Urban Renewal \Greater Downtown UR District\2010.1 Amendment \TIF Ordinance\20100805 GD TIF ord
memo.doc
ORDINANCE NO. 51 -10
AN ORDINANCE AMENDING ORDINANCE NOS. 58 -09, 60 -08, 63 -07, 20 -07,
35 -04, 30 -82 AND 66 -89, AS PREVIOUSLY AMENDED, PROVIDING THAT
GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON
ALL PROPERTY LOCATED WITHIN THE GREATER DOWNTOWN URBAN
RENEWAL DISTRICT 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 GREATER DOWNTOWN
URBAN RENEWAL DISTRICT
WHEREAS, the City Council of the City of Dubuque, Iowa (the "City ") has
heretofore, in Ordinance No. 30 -82, provided for the division of taxes within the original
Downtown Dubuque Urban Renewal Project, Iowa R -15, described in Resolution No.
123 -67 adopted on May 18, 1967, pursuant to Section 403.19 of the Code of Iowa; and
WHEREAS, the original Downtown Dubuque Urban Renewal Project, Iowa R -15,
subsequently was amended by Resolution No. 79 -71 approved on March 15, 1971, by
Resolution No. 73 -74 approved on March 11, 1974, by Resolution No. 107 -82 approved
on May 3, 1982, by Resolution No. 191 -84 approved on June 25, 1984, by Resolution
No. 371 -93 approved on December 6, 1993, by Resolution No. 145 -94 approved on
May 2, 1994, by Resolution No. 479 -97 approved on November 17, 1997, by Resolution
No. 476 -98 approved on October 19, 1998 and by Resolution No. 187 -02 approved on
April 1, 2002, which amendments, among other things, added areas referred to as the
Old Main Subarea, Town Clock Expansion Subarea and Upper Main Subarea to the
area of the Downtown Dubuque Urban Renewal District; and
WHEREAS, consistent with the foregoing amendments, Ordinance No. 30 -82
subsequently was amended by Ordinance Nos. 23 -94, 36 -94, 67 -97, and 26 -02 to
provide for the division of taxes within the several subareas of the amended Downtown
Dubuque Urban Renewal District; and
WHEREAS, the City Council of the City has heretofore, in Ordinance No. 66 -89,
provided for the division of taxes within the original Ice Harbor Urban Renewal District,
described in Resolution No. 403 -89 adopted on December 18, 1989, pursuant to
Section 403.19 of the Code of Iowa; and
WHEREAS, the original Ice Harbor Urban Renewal District subsequently was
amended by Resolution No. 241 -00 approved on June 5, 2000 and by Resolution 114-
02 approved on March 4, 2002, which amendments, among other things, added an
additional area referred to as Subarea B to the area of the Ice Harbor Urban Renewal
District; and
WHEREAS, consistent with the foregoing amendment, Ordinance No. 66 -89
subsequently was amended by Ordinance No. 97 -00 to provide for the division of taxes
within the two subareas of the amended Ice Harbor Urban Renewal District; and
WHEREAS, the original Downtown Dubuque Urban Renewal District and the
original Ice Harbor Urban Renewal District and their respective Subareas were
combined into a single urban renewal area, under the terms of an Urban Renewal Plan
for the Greater Downtown Urban Renewal District, pursuant to Resolution No. 170 -04
adopted on April 19, 2004; and
WHEREAS, consistent with foregoing amendment, Ordinance Nos. 30 -82 and
66 -89 were amended by Ordinance No. 35 -04 to provide for the division of taxes within
the various sub -areas of the Greater Downtown Urban Renewal District; and
WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal
District was amended and restated as an Amended and Restated Urban Renewal Plan,
pursuant to Resolution No. 108 -07 approved on February 20th, 2007, to provide for,
among other things, the further expansion of the Greater Downtown Urban Renewal
District to include additional areas described as the Ice Harbor Subarea C; and
WHEREAS, consistent with the foregoing amendment, Ordinance No.35 -04 was
amended by Ordinance No. 20 -07 to provide for the division of taxes within Ice Harbor
Subarea C of the Greater Downtown Urban Renewal District; and
WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal
District was further amended and restated as an Amended and Restated Urban
Renewal Plan, pursuant to Resolution No. 597 -07 approved on December 17, 2007, for
the purpose of expanding the Greater Downtown Urban Renewal District to include
additional areas described as the Warehouse Subarea and the South Main Subarea,
and
WHEREAS, consistent with the foregoing amendment, Ordinance No. 20 -07 was
amended by Ordinance No. 63 -07 to provide for the division of taxes within the
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Warehouse Subarea and the South Main Subarea of the Greater Downtown Urban
Renewal District; and
WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal
District was further amended and restated as an Amended and Restated Urban
Renewal Plan, pursuant to Resolution No. 300 -08 approved on September 2, 2008, for
the purpose of expanding the Greater Downtown Urban Renewal District to include
additional areas described as the South Port Subarea; and
WHEREAS, consistent with the foregoing amendment, Ordinance No. 63 -07 was
amended by Ordinance No. 60 -08 to provide for the division of taxes within the South
Port Subarea of the Greater Downtown Urban Renewal District; and
WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal
District was further amended and restated as an Amended and Restated Urban
Renewal Plan, pursuant to Resolution No. 393 -09 approved on October 5, 2009, for the
purpose of expanding the Greater Downtown Urban Renewal District to include
additional areas described as the Cable Car Subarea; and
WHEREAS, consistent with the foregoing amendment, Ordinance No. 60 -08 was
amended by Ordinance No. 58 -09 to provide for the division of taxes within the Cable
Car Subarea of the Greater Downtown Urban Renewal District; and
WHEREAS, the Urban Renewal Plan for the Greater Downtown Urban Renewal
District was further amended and restated as an Amended and Restated Urban
Renewal Plan, pursuant to Resolution No. 269 -10 approved on July 19, 2010, for the
purpose of expanding the Greater Downtown Urban Renewal District to include
additional areas described as the Bluff Street Subarea, 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 combined area known as the Greater Downtown Urban Renewal
District (the "Greater Downtown Urban Renewal District "), and the continuing needs of
redevelopment within the Greater Downtown Urban Renewal District are such as to
require the continued application of the incremental tax resources of the Greater
Downtown Urban Renewal 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 No. 58 -09 (amending Ordinance 60 -08, Ordinance 63 -07, amending
Ordinance No. 20 -07, amending Ordinance No. 35 -04, amending Ordinance No. 30 -82,
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as amended by Ordinance Nos. 23 -94, 36 -94, 67 -97, and 26 -02, and Ordinance No. 66-
89, as amended by Ordinance No. 97 -00) is hereby amended to read as follows:
Section 1: For purposes of this Ordinance, the following terms shall have the
following meanings:
(a) Original Town Clock Subarea shall mean that portion of the Amended
Project Area initially described in the Urban Renewal Plan for the Downtown Dubuque
Urban Renewal Project, Iowa R -15, approved by Resolution No. 123 -67 on May 18,
1967, as amended by the Amended and Restated Urban Renewal Plan for the Greater
Downtown Urban Renewal District approved by Resolution No. 108 -07 on February
20th, 2007, which Original Town Clock Subarea includes the lots and parcels located
within the area now legally described as follows:
Beginning at the intersection of the north right -of -way line of Ninth Street with the
east right -of -way line of Central Avenue; thence south along the east right -of -way
line of Central Avenue to its intersection with the south right -of -way line of Fourth
Street; thence west along the south right -of -way line of Fourth Street to its
intersection with the west right -of -way line of Locust Street; thence north along
the west right -of -way line of Locust Street to its intersection with the north right -
of -way line of Ninth Street, but also including the adjacent City Lots 623 and 624
(Dubuque Museum of Art), the Locust Street Parking Ramp between 8th and 9th
Streets and the former U.S. Federal Building located on City Lots 101, 102, 139,
140, and the N 54.5' of City Lots 103 & 138, and the vacated alley between said
lots; thence east along the north right -of -way line of Ninth Street to its
intersection with the east right -of -way line of Central Avenue, but also including
the adjacent Iowa Inn property and the public parking lot known as Parking Lot
Number 1 located between 9th and 10th Streets east of Iowa Street, to the point
of beginning.
(b) OId Main Subarea shall mean that portion of the Amended Project Area
initially described in the Amended and Restated Urban Renewal Plan for the Downtown
Dubuque Urban Renewal District approved by Resolution No. 145 -94 on May 2, 1994,
which OId Main Subarea includes the lots and parcels located within the area legally
described as follows:
Beginning at the intersection of the south right -of -way line of Fourth Street with
the east right -of -way line of Central Avenue; thence west along the south right -of-
way line of Fourth Street to the west right -of -way line of Locust Street; thence
south along the west right -of -way line of Locust Street to the north right -of -way
line of the Locust Street Connector; thence east along the north right -of -way line
of the Locust Street Connector to the west right -of -way line of Highways 151/61;
thence north along the west right -of -line of Highways 151/61 to the point of
beginning.
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(c) Town Clock Expansion Subarea shall mean that portion of the Amended
Project Area initially described in the Amended and Restated Urban Renewal Plan for
the Downtown Dubuque Urban Renewal District approved by Resolution No. 479 -97 on
November 17, 1997, which Town Clock Expansion Subarea includes the lots and
parcels located within the area legally described as follows:
South 1/2 of City Lot 167, City Lot 168 and City Lot 168A; Lots 1 & 2 of City Lots
204, 205, 206, 207 and 208, N. 23' of City Lot 263, S. 28.5' of City Lot 263, N. 1/2
of City Lot 262, S. 1/2 of City Lot 262, N. 1/2 of City Lot 261, all in Section 24,
Township 89 North, Range 2 East, 5th P.M., Dubuque County, Iowa and any
adjoining public right -of -way.
(d) Upper Main Subarea shall mean that portion of the Amended Project Area
initially described in the Amended and Restated Urban Renewal Plan for the Downtown
Dubuque Urban Renewal District approved by Resolution No. 187 -02 on April 1, 2002,
as amended by the Amended and Restated Urban Renewal Plan for the Greater
Downtown Urban Renewal District approved by Resolution No. 108 -07 on February
20th, 2007, which Upper Main Subarea includes the lots and parcels located within the
area legally described as follows:
On the North by Fourteenth Street, on the West by Locust Street but also
including adjacent City Lots 660, 659, 658A and 658 except the south 1' of City
Lot 658 (Carnegie -Stout Public Library), on the South by the Town Clock
Expansion Subarea and on the East by Central Avenue, including all public
rights -of -way.
(e) Ice Harbor Subarea A shall mean that portion of the Amended Project
Area initially described in the Urban Renewal Plan for the Ice Harbor Urban Renewal
District approved by Resolution No. 403 -89 on December 18, 1989, which Ice Harbor
Subarea A includes the lots and parcels located within the area legally described as
follows:
that area generally bounded on the north by the public alley located between the
vacated Fourth Street and Third Street, on the west by the Chicago, Central and
Pacific Railroad right -of -way, on the south by East First Street and on the east by
the municipal limits of the City of Dubuque, Iowa and including any adjoining
public right -of -way.
(f) Ice Harbor Subarea B shall mean that portion of the Amended Project
Area initially described in the Amended and Restated Urban Renewal Plan for the Ice
Harbor Urban Renewal District approved by Resolution No. 241 -00 on June 5, 2000,
which Ice Harbor Subarea B includes the lots and parcels located within the area legally
described as follows:
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that area generally bounded on the north and west by the Chicago, Central and
Pacific Railroad right -of -way, on the south by the northerly boundary of the Ice
Harbor Subarea A and on the east by the municipal limits of the City of Dubuque,
Iowa (excluding Lot 1 Adams Co.'s 2nd Addition) and including any adjoining
public right -of -way.
(g) Ice Harbor Subarea C shall mean a portion of the Amended Project Area
added by the Amended and Restated Urban Renewal Plan for the Greater Downtown
Urban Renewal District approved by Resolution No. 108 -07 on February 20th, 2007,
consisting of Lot 1 Adams Co.'s 2nd Addition and any adjoining public right -of -way.
(h) Warehouse Subarea shall mean a portion of the Amended Project Area
added by the Amended and Restated Urban Renewal Plan for the Greater Downtown
Urban Renewal District approved by Resolution No. 597 -07 on December 17, 2007,
which Warehouse Subarea includes the lots and parcels located within the area legally
described as follows:
Commencing as a point of reference at the intersection of the centerlines of 11th
Street and Central Avenue in the City of Dubuque, Dubuque County, Iowa, said
point being the point of beginning; thence northeasterly along the centerline of
11th Street to a point of intersection with the centerline of White Street; thence
northwesterly along the centerline of White Street to a point of intersection with
the centerline of 12th Street; thence northeasterly along the centerline of 12th
Street and extension thereof to a point of intersection with the centerline of US
Highways 151 and 61; thence southwesterly along the centerline of US Highways
151 and 61 to a point of intersection with the centerline of 4th Street extended;
thence southwesterly along the centerline of 4th Street and extension thereof to a
point of intersection with the centerline of Central Avenue; thence northwesterly
along the centerline of Central Avenue to a point of intersection with the
centerline of 9th Street; thence southwesterly along the centerline of 9th Street to
a point of intersection with the westerly line of City Lot 259 extended southerly;
thence northwesterly along the westerly line of City Lot 259, and Lots 1 and 2 of
the Subdivision of the South 1 /2 of City Lot 261 and City Lot 260 to the southwest
corner of the N 1 /2 of City Lot 261; thence northeasterly along the southerly line of
the N 1 /2 of City Lot 261 and extension thereof to a point of intersection with the
centerline of Central Avenue; thence northwesterly along the centerline of
Central Avenue to a point of intersection of 11th Street also being point of
beginning; and including any adjoining public right -of -way.
(i) South Main Subarea shall mean a portion of the Amended Project Area
added by the Amended and Restated Urban Renewal Plan for the Greater Downtown
Urban Renewal District approved by Resolution No. 597 -07 on December 17, 2007,
which South Main Subarea includes the Tots and parcels located within the area legally
described as follows:
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Commencing as a point of reference at a point of intersection of the centerline of
Locust Street with the Locust Street Connector in the City of Dubuque, Dubuque
County, Iowa, said point being the point of beginning; thence northeasterly along
the centerline of the Locust Street Connector to a point of intersection with the
centerline of US Highways 52, 61, and 151; thence southeasterly along the
centerline of US Highways 52, 61, and 151 to a point of intersection with the
centerline of the eastern section of Jones Street extended southwesterly; thence
southwesterly along said extension of the centerline of the eastern section of
Jones Street to a point of intersection with the centerline of Main Street; thence
northwesterly along the centerline of Main Street to a point of intersection with
the centerline of Jones Street; thence northwesterly along the centerline of Jones
Street to a point of intersection with the easterly line of Lot 2D of vacated Shields
Street extended northerly; thence southeasterly along the easterly line of Lot 2D
of vacated Shields Street to the southeasterly corner of said Lot 2D; thence
southwesterly along the southerly lines of Lot A and Lot 2D of vacated Shields
Street and Lot 1 of 2 of City Lot 543 extended westerly to a point of intersection
with the centerline of Locust Street; thence northeasterly along the centerline of
Locust Street to a point of intersection with the centerline of the Second Street
Connector, also being the point of beginning; and including any adjoining public
right -of -way.
(j) South Port Subarea shall mean a portion of the Amended Project Area
added by the Amended and Restated Urban Renewal Plan for the Greater Downtown
Urban Renewal District approved by Resolution No. 300 -08 on September 2, 2008,
which South Port Subarea includes the lots and parcels located within the area legally
described as follows:
Beginning at a point of reference at the northwest corner of lot 2AA of Cooper
Wagon Works Block in the City of Dubuque, Dubuque County Iowa, said pint
being on the southerly right of way line of East First Street; Thence southeasterly
along the southerly right of line of East First Street and extension thereof to the
municipal limits of the City of Dubuque; Thence southerly along said municipal
limits to a point of intersection with the southern right of way line of Railroad Ave.
extended easterly; Thence southwesterly along said right of way line extension
there to the southeast corner of lot A, Block 15 Dubuque Harbor Company's
Addition; Thence northwesterly along the easterly line of said Lot A to the
northerly right of way line of Railroad Ave., and south line of lot 1 of 5 of Block 27
Dubuque Harbor Company's Addition; Thence northwesterly along the westerly
lines of lots 1 of 5, 1 of 4, 1 of 3, 1 of 2 and 1 of 1 of said Block 27 to the south
line of lot 4A of said Block 17; Thence westerly to the easterly right of way line of
vacated Water Street; Thence northwesterly along said easterly line to the
southwesterly corner of lot 2 of said Block 17; Thence westerly along the
extension of the southerly line of said Lot 2 to the westerly line of Vacated Water
Street; Thence southeasterly along said westerly right of way line to the southerly
corner of lot 2 of Block 18 of Dubuque Harbor Company's Addition; Thence
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northwesterly along the westerly line of said lot 2 to a point of intersection with
the southerly right of way line of vacated Charter St; Thence southwesterly along
said right of way line and extension thereof the centerline of South Main Street;
Thence northwesterly along said centerline to the northerly line of lot 5, Block 13
Dubuque Harbor Company's Addition extended northeasterly; Thence
southwesterly along said line to the easterly line of lots 7 and 8 of said Block 13;
Thence southeasterly along the easterly lines of said lots 7 & 8 and extension
thereof to the centerline of Charter Street; Thence southwesterly along said
centerline to the centerline of Salina Street; Thence northwesterly along said
centerline to the northerly line of lot 1 of 3 of Biock C of Industrial Sub. No. 1
extended northeasterly; Thence southwesterly along the northerly lines of said lot
1 of 3 and Lot 2 of said Biock C extended to the westerly right of way line of
Harrison St.; Thence northerly along the easterly line of the West Part of Lot 1 of
1 of 1 of 1 of P.J. Seippel Lumber Company Place; Thence westerly along the
southerly lines of lots 1 of 1 of 2 of 1 and Lot 2 of 1 of 2 of 1 and extension
thereof to the centerline of relocated South Locust St; Thence northerly along
said centerline to the centerline of Dodge St; Thence easterly along said
centerline of Dodge Street to a point of intersection with the westerly line of Lot E
of vacated Shields Street extended southerly; Thence northerly along said
westerly line to the northwest corner of said lot E; Thence easterly along the
north line of said lot E and Lot 6 Block 11 of Dubuque Harbor Company's
Addition and extension thereof to the centerline of Main Street; Thence
southeasterly along the centerline of Main St. to the centerline of Dodge Street;
Thence easterly along the centerline of Dodge St to the intersection of Highway
61/151; Thence northwesterly along said centerline to a point of intersection with
the southerly right of way line of East First Street; Thence southeasterly along
said right of way line to the point of beginning.
(k) Cable Car Subarea shall mean a portion of the Amended Project Area
added by the Amended and Restated Urban Renewal Plan for the Greater Downtown
Urban Renewal District approved by Resolution No. 393 -09 on October 5, 2009, which
Cable Car Subarea includes the lots and parcels located within the area legally
described as follows:
Commencing as a point of reference at the intersection of the centerlines of
Second Street and Locust Street in the City of Dubuque, Dubuque County, Iowa,
said point being the point of beginning; Thence southeasterly along the centerline
of Locust Street to a point of intersection with the centerline of First Street;
Thence southwesterly along the centerline of First Street to a point of intersection
with the centerline of Bluff Street; Thence northwesterly along the centerline of
Bluff Street to a point of intersection with the centerline of Emmett Street; Thence
southwesterly along the centerline of Emmett Street to a point of intersection with
the centerline of St. Mary's Street; Thence northwesterly along the centerline of
St. Mary's Street and to a point of intersection with the northerly line of Cathedral
Center extended southwesterly; Thence northeasterly along the northerly line of
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Cathedral Center to a point of intersection with the westerly right of way line of
Bluff Street; Thence northwesterly along said westerly right of way line of Bluff
Street and extension thereof to a point of intersection with the centerline of Third
Street; Thence southwesterly along the centerline of Third Street to a point of
intersection with the westerly line of Lot 1 of the East 78 ft. of the South 100 ft. of
Lot 4 of City Lot 692 extended southerly; Thence northwesterly along said
westerly line to a point of intersection with the southerly line of Fenelon Point
Subdivision; Thence northeasterly along said southerly line to a point of
intersection with the westerly line of Lot 2 of 2 of City Lot 692;Thence
northwesterly along said westerly line and westerly line of Lot 1 of 2 of City Lot
692 to a point of intersection with the southerly right of way line of W. Fourth
Street; Thence northeasterly across W. Fourth Street to the southwest corner of
Lot 1 of Evan's Place, said point also being on the northerly right of way line of
W. Fourth Street; Thence northwesterly along the west line of said Lot 1 to the
southeast corner of Lot 34 of Cooper Heights Addition; Thence continuing
northwesterly along the easterly line of Lots 34, 35, 36 and 37 of Cooper Heights
Addition to a point of intersection with the southerly right of way line of W. Fifth
Street; Thence northeasterly to a point of intersection in the centerline of W. Fifth
Street approximately 270 feet southwesterly of the centerline of Bluff Street;
Thence northwesterly along the centerline of W. Fifth Street to a point of
intersection with the southerly line of Coriell's Dubuque also being the northerly
right of way line of W. Fifth Street; Thence northeasterly along said right of way
line of W. Fifth St. to the southwest corner of Lot 1 of City Lot 690;Thence
northwesterly along the westerly line of said Lot 1 to the northwest corner of said
Lot 1;Thence northeasterly along the northerly line of said Lot 1 to the northeast
corner of said Lot 1;Thence southeasterly along the easterly line of said Lot 1 to
a point of intersection with the northerly line of the south 62.5 ft. of the north 64 ft.
of City lot 617;Thence northeasterly along said northerly line and extension
thereof to a point of intersection with the centerline of Bluff Street; Thence
southeasterly along the centerline of Bluff Street to a point of intersection with the
northerly line of the south 10 ft. of City Lot 138 extended southwesterly; Thence
northeasterly along said northerly line and northerly line of the south 10 ft. of the
south 34.6 ft. of City Lot 103 and extension thereof to a point of intersection with
the centerline of Locust Street; Thence southeasterly along the centerline of
Locust Street to a point of intersection with the centerline of Second Street, said
point being the point of beginning.
(I) Bluff Street Subarea shall mean a portion of the Amended Project Area
added by the Amended and Restated Urban Renewal Plan for the Greater Downtown
Urban Renewal District approved by Resolution No. 269 -10 on July 19, 2010, which
Bluff Street Subarea includes the Tots and parcels located within the area legally
described as follows:
Commencing as a point of reference at the intersection of the centerlines of W.
Sixth Street and Bluff Street in the City of Dubuque, Dubuque County, Iowa, said
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point being the point of beginning; thence southeasterly along the centerline of
Bluff Street to a point of intersection with the northerly line of the south 62.5 ft. of
the north 64 ft. of City Lot 617 extended southeasterly; thence southwesterly
along said northerly line to the easterly line of Lot 1 of City Lot 690; thence
northwesterly along the easterly line of said Lot 1 to the northeast corner of said
Lot 1; thence southwesterly along the northerly line of said Lot 1 to the northwest
corner of said Lot 1; thence southeasterly along the westerly line of said Lot 1 to
a point of intersection with northerly right of way line of W. Fifth Street; thence
southwesterly along said right of way line of W. Fifth St. to the southeast corner
of the South 73' of Lot 13 of Coriell's Dubuque; thence northwesterly 73' along
the easterly line of said South 73' of Lot 13 of Coriell's Dubuque to the northeast
corner of the South 73' of Lot 13 of Coriell's Dubuque; thence southwesterly
along the northerly line of said South 73' of Lot 13 of Coriell's Dubuque to a point
of intersection with westerly line of Lot 13 of Coriell's Dubuque; thence
northwesterly along said westerly line of Lot 13 to a point of intersection with the
southerly line of Lot 33 of Coriell's Dubuque; thence northeasterly along said
southerly fine of Lot 33 to a point of intersection with the westerly line of Lot 14 of
Coriell's Dubuque' thence northwesterly along said westerly line of said Lot 14 to
a point of intersection with the southerly line of Lot 34 of Coriell's Dubuque;
thence northeasterly along said southerly line of Lot 34 to the easterly line of
Coriell's Dubuque; thence northwesterly along said easterly line Lots 34, 35, 36,
37, 38, and 44 of Coriell's Dubuque to the northwest corner of the North 50' of
Lot 1 of Lot 1 of City Lot 653; thence northeasterly along the northerly line of said
North 50' of Lot 1 of Lot 1 of City Lot 653 to the southeast corner of Lot 1 of
McKinlay's Subdivision; thence northwesterly along said easterly line of said Lot
1 and extension thereof to a point of intersection with the centerline of West
Eighth Street; thence northwesterly along said centerline of West Eighth Street to
a point of intersection with the westerly line of Lot 1 of the Subd'n. of City Lot 688
and part of City Lot 654 extended southerly; thence northwesterly along said
westerly line of Lot 1 and extension thereof northerly to a point of intersection
with the centerline of West Ninth Street; thence southwesterly along the
centerline of West Ninth Street to a point of intersection with the southerly
extension of the westerly line of Lot 2 of Lot 12 of Central Addition; thence
northwesterly along said westerly right of Lot 2 of Lot 12 to the northwest corner
of said Lot; thence northeasterly along the northerly line of said Lot 2 of Lot 12 to
the northeast corner of said Lot; thence southeasterly along said easterly line of
said Lot 2 of Lot 12 to the southwest corner of Lot 1 of Lot 11 of Central Addition;
thence northeasterly along the southerly line of Lot 1 of Lot 11 and Lot 1 of Lot
10 of Central Addition to a point of intersection with the westerly line of Lot 1 of
Lot 9 of Central Addition; thence northwesterly along said westerly line of Lot 1 of
Lot 9 to a point of intersection with the southerly right of way line of a public alley
in Central Addition; thence northeasterly along said southerly line to a point of
intersection with the westerly line of Lot 1 of 1 of 10 of Lorimer's Subdivision;
thence northwesterly along said westerly line of said Lot 1 of 1 of 10 to the
northerly line of Lorimer's Subdivision; thence northeasterly along the northerly
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line of Lorimer's Subdivision to the southeast corner of a public alley between
Corkery's Subdivision and City Lot 655; thence northwesterly along the easterly
right of way line of said alley to a point of intersection with West Eleventh Street;
thence southwesterly along centerline of West Eleventh Street to a point of
intersection with the centerline of Grove Terrace; thence northwesterly along
centerline of Grove Terrace to a point of intersection with the northerly right of
way line of Arlington Street; thence northeasterly along the northerly right of way
line of Arlington Street to the southeast corner of City Lot 769B; thence
northwesterly along the easterly line of said City Lot 769B to a point of
intersection with the southerly line of Lot 3 of Brown's Subdivision; thence
southwesterly along the southerly line of said Lot 3 to the southwest corner of
said lot; thence northwesterly along the westerly line of said Lot 3 and extension
thereof to a point of intersection with the centerline of Loras Boulevard; thence
northeasterly along said centerline to a point of intersection with the centerline of
Locust Street; thence southeasterly along the centerline of Locust Street to a
point of intersection with the centerline of W. Eleventh Street; thence
southwesterly along the centerline of W. Eleventh Street to a point of intersection
with the centerline of Bluff Street; thence southeasterly along the centerline of
Bluff Street to a point of intersection with the extension of the southerly line of
City Lot 658A; thence northeasterly along the southerly line of City Lot 658A
extended and the southerly line of City Lot 658, except the southerly one foot
thereof, extended to a point of intersection with the centerline of Locust Street;
thence southeasterly along the centerline of Locust Street to a point of
intersection with the centerline of West Ninth Street; thence southwesterly along
the centerline of West Ninth Street to a point of intersection with the centerline of
Bluff Street; thence southeasterly along the centerline of Bluff Street to a point of
intersection with the centerline of West Eighth Street; thence northeasterly along
the centerline of West Eighth Street to a point of intersection with the centerline
of Locust Street; thence southeasterly along the centerline of Locust Street to a
point of intersection with the northerly line of City Lot 624 extended northeasterly;
thence southwesterly along the northerly line of City Lot 624 extended
southeasterly to the centerline of a public alley; thence southeasterly along the
centerline of a public alley to a point of intersection with the centerline of W.
Seventh Street; thence northeasterly along the centerline of W. Seventh Street to
a point of intersection with Locust Street; thence southeasterly along the
centerline of Locust Street to a point of intersection with West Sixth Street;
thence southwesterly along the centerline of West Sixth Street to a point of
intersection with Bluff Street said point being the point of beginning.
(m) Amended Project Area shall mean the areas of the City of Dubuque, Iowa
included within the Original Town Clock Subarea, the Old Main Subarea, the Town
Clock Expansion Subarea, the Ice Harbor Subarea A, the Ice Harbor Subarea B, the Ice
Harbor Subarea C, the Warehouse Subarea, the South Main Subarea, the South Port
Subarea, the Cable Car Subarea, and the Bluff Street Subarea, each as described in
this Section.
(n) Urban Renewal Plan shall mean the Amended and Restated Urban
Renewal Plan for the Greater Downtown Urban Renewal District, approved by
Resolution No. 269 -10 on July 19, 2010, as the same may be amended from time to
time.
Section 2: The taxes levied on the taxable property in the Amended Project
Area, 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 Town Clock Subarea, 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 taxing property in the Original Town Clock Subarea upon the total
sum of the assessed value of the taxable property in the Original Town Clock Subarea
as shown on the assessment roll as of January 1, 1966, being the assessment roll last
equalized prior to the date of the initial adoption of the Urban Renewal Plan for the
Downtown Dubuque Urban Renewal Project, Iowa R -15, 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 the Old Main Subarea, base period taxes shall be computed in the same
manner using the total assessed value shown on the assessment roll as of January 1,
1993, being the assessment roll as of January 1 of the calendar year preceding the
effective date of Ordinance No. 23 -94.
As to the Town Clock Expansion Subarea, 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 as of January 1 of the calendar year
preceding the effective date of Ordinance No. 67 -97.
As to the Upper Main Subarea, base period taxes shall be computed in the same
manner using the total assessed value shown on the assessment roll as of January 1,
2001, being the assessment roll as of January 1 of the calendar year preceding the
effective date of Ordinance No. 26 -02.
As to the Ice Harbor Subarea A, base period taxes shall be computed in the
same manner using the total assessed value shown on the assessment roll as of
January 1, 1988, being the assessment roll as of January 1 of the calendar year
preceding the effective date of Ordinance No. 66 -89.
As to the Ice Harbor Subarea B, base period taxes shall be computed in the
same manner using the total assessed value shown on the assessment roll as of
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January 1, 1999, being the assessment roll as of January 1 of the calendar year
preceding the effective date of Ordinance No. 97 -00.
As to the Ice Harbor Subarea C, base period taxes shall be computed in the
same manner using the total assessed value shown on the assessment roll as of
January 1, 2006, being the assessment roll as of January 1 of the calendar year
preceding the effective date of Ordinance No. 20 -07.
As to the Warehouse Subarea, base period taxes shall be computed in the same
manner using the total assessed value shown on the assessment roll as of January 1,
2006, being the first day of the calendar year preceding the effective date of Ordinance
No. 63 -07.
As to the South Main Subarea, base period taxes shall be computed in the same
manner using the total assessed value shown on the assessment roll as of January 1,
2006, being the first day of the calendar year preceding the effective date of Ordinance
No. 63 -07.
As to the South Port Subarea, 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 first day of the calendar year preceding the effective date of Ordinance
No. 60 -08.
As to the Cable Car Subarea, base period taxes shall be computed in the same
manner using the total assessed value shown on the assessment roll as of January 1,
2008, being the first day of the calendar year preceding the effective date of Ordinance
58 -09.
As to the Bluff Street Subarea, base period taxes shall be computed in the same
manner using the total assessed value shown on the assessment roll as of January 1,
2009, being the first day of the calendar year preceding the effective date of this
Ordinance.
Section 4: That portion of the taxes each year in excess of the base period
taxes for the Amended Project Area, determined for each subarea 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 (but only to the extent
required under Section 403.19(2)) and taxes for the payment of bonds and interest of
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each taxing district 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.
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
Amended Project Area under the provisions of Section 403.19 of the Code of Iowa, as
authorized in Ordinance Nos. 58 -09, 60 -08, 63 -07, 20 -07, 35 -04, 30 -82 and 66 -89, as
amended by Ordinance Nos. 23 -94, 36 -94, 67 -97, 26 -02 and 97 -00, and to fully
implement the division of taxes in the Bluff Street Subarea. 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 territory 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 16 day of Au ust, 2010.
Read first time:
Read second time:
August 16, 2010
August 16, 2010
Mayor
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P (
Read third time:
PASSED AND APPROVED:
PUBLISHED:
August 16, 2010
August 20, 2010
August 16, 2010
F: \USERS \Econ Dev \Urban Renewal \Greater Downtown UR District\2010.1 Amendment \TIF
Ordinance\20100907 TIF Ordinance.doc