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North Cascade Road Area - Housing Urban Renewal Plan
Copyright 2014 City of Dubuque Items to be set for Public Hearing # 1. ITEM TITLE: North Cascade Road Area - Housing Urban Renewal Plan SUMMARY: City Manager recommending approval of a Resolution of Necessity that finds that a Housing Urban Renewal Plan for the North Cascade Road Area is both necessary and appropriate, and sets a public hearing on the proposed amendment for December 1, 2014. SUGGESTED DISPOSITION: RESOLUTION of Necessity finding that certain property along North Cascade Road is an Economic Development Area and that the Development of said Area is necessary in the interest of the residents of the City of Dubuque Suggested Disposition Receive and File; Adopt Resolution(s), Set Public Hearing for 12/1/14 ATTACHMENTS: Description Type E North Cascade Road Housing Urban Renewal Plan -MVM Memo City Manager Memo E Staff Memo Staff Memo ❑ Area Map Supporting Documentation ❑ Financial Summary Supporting Documentation E Land Consent Signatures Supporting Documentation ❑ Resolution of Necessity - North Cascade Road Resolutions THE CITY OF Dui Masterpiece on the Mississippi Dubuque band AI -America City r 2007 • 2012 • 2013 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Resolution of Necessity for the North Cascade Road Housing Urban Renewal Plan DATE: October 14, 2014 Economic Development Director Maurice Jones recommends City Council approval of a Resolution of Necessity that finds that a Housing Urban Renewal Plan for the North Cascade Road Area is both necessary and appropriate, and sets a public hearing on the proposed amendment for December 1, 2014. I concur with the recommendation and respectfully request Mayor and City Council approval. lAil-t44 ., Mic ael C. Van Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodmann, Assistant City Manager Maurice Jones, Economic Development Director THE CITY OF Dui Masterpiece on the Mississippi Dubuque katil All -America City 1111 2007 • 2012 •2013 Economic Development Department 50 West 13th Street Dubuque, Iowa 52001-4864 Office (563) 589-4393 TTY (563) 690-6678 http://www.cityofdubuque.org TO: Michael Van Miliigen, City Manager FROM: Maurice Jones, Economic Development Director SUBJECT: Resolution of Necessity for the North Cascade Road Housing Urban Renewal Pian DATE: October 10, 2014 INTRODUCTION This memorandum presents for City Council consideration a Resolution of Necessity that: 1) finds that a Housing Urban Renewal Plan for the North Cascade Road Area is both necessary and appropriate; and 2) sets a public hearing on the proposed amendment for December 1, 2014. BACKGROUND The District will be an urban renewal area which allows the City of Dubuque to capture tax increment revenue from improvements made in the District in order to promote economic development activities. The District will be created for the development of a residential district and improvements along North Cascade Road. In addition to the development of infrastructure, tax increment financing will be used to benefit Low and Moderate Income (LMI) individuals in our community. The need to create the North Cascade Road Housing Urban Renewal Area has risen from the desire to utilize tax increment financing to allow both public and private development efforts to benefit from the flexibility in the use of tax increment financing in the district. Pursuant to House File 2460, the plan will describe the specific use of tax increment funds, reflecting the utilization of tax rebates, the creation of public infrastructure, or other planned expenditures. DISCUSSION The primary goal of the Pian would be to stimulate, through public involvement and commitment, private investment in new housing and residential development as defined by the Iowa Code Section 403.17(12). This proposed creation of the North Cascade Road Housing Urban Renewal Area would result in improved roads and utilities in the designated area, as well as funding to assist with LMI family housing anywhere within the City. With the 10 year life of the TIF District it is projected to generate $11.3 million in increment with $4.3 million going to affordable housing throughout the community and $7 million going to North Cascade Road improvements and other improvements in the District. See attached financial summary. The attached Resolution directs staff to prepare an Urban Renewal Plan for the newly named North Cascade Road Housing Urban Renewal Area, setting forth the urban renewal projects that are currently expected to be undertaken in the District, and for LMI households in the community. Additionally, staff is required to hold a consultation process, required by law, with the affected taxing entities concerning the proposed amendment, and to the extent the amendment includes the use of tax increment revenues for a public building, provide an analysis of alternative development and funding options for such public buildings. City staff met with the interested property owners from the district on October 15, 2014, to answer their questions. A mailing was also sent to all the property owners in the district. At the October 20, 2014, Dubuque County Board of Supervisors meeting, the city will be seeking their consent to the district in that part of it extends out into the county. The City has also received a consent of affected owners of agricultural property greater than 10 acres. A City Council public hearing on the Amended and Restated Urban Renewal Plan will be scheduled for December 1, 2014. The public notice will be published four to twenty days before the meeting to allow for the appropriate publication requirements. This will allow time for preparation of the Plan and the consultation process with the taxing entities. RECOMMENDATION/ ACTION STEP I recommend the City Council adopt the attached Resolution of Necessity that begins the process of creating the Urban Renewal Plan for the North Cascade Road Housing Urban Renewal Area. The amendment will provide the continued use of tools that will encourage reinvestment and redevelopment activities throughout the District and will support revitalization within the area and the community. Attachment .... ,..„ ASCADE!b T OAD *IOt . ,..4.,URAfrEW 41;1 1. 7- 11 °'$ARBARALEE: yz . , •0q> - -.•,'• KELLY LMsa..; *�4 • y Fr, NN C?R a'..J Q Biu 1O a PRS. 4•V ,,, 1`�iN(`�.r '.-� %w . ,1" �, -11, ss OREGON ST Dubuque City Limits North Cascade Road Housing Urban Renewal Area KNEPPER LN @ou nt buque City of Dubuque Housing TIF Summary - TimberHyrst TIF Revenue FY TimberHyrst Low Income TimberHyrst Public Imp. Total TIF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TIF Revenue TIF Funds Committed Uncommitted TIF Funds $ 38,246 $ 160,503 $ 281,776 $ 388,047 $ 452,782 $ 516,252 $ 584,416 $ 648,105 $ 680,757 $ 574,844 $ 4,325,728 $ 4,325,728 $ 0 Subdivision Improvements Fiber Conduit & Vaults Stormwater Over Detention Enhanced Park Total Subdivision Improvements Public Improvements on N. Cascade Rd. Water Main - Timber Hyrst of Curve #2 Roadway Improve - Timber Hyrst to Curve #2 Water Main - Curve #2 to Edval Roadway Improve - Curve #2 to Edval Water Main - Edval to Zoo Roadway Improve - Edval to Zoo Water Main - SW Arterial/Walser Lane Bond Interest Expense Total Public Improvements TIF Financed Total Improvements Surplus (Deficit) 62,136 260,764 457,793 630,450 735,623 838,740 949,485 1,052,958 1,106,006 933,934 7,027,889 7,027,889 0 $ 111,111 $ 50,000 $ 150,000 $ 311,111 $ 143,000 $ 639,000 $ 110,000 $ 647,000 $ 375,000 $ 2,200,000 $ 447,000 $ 2,155,778 $ 6,716,778 $ 7,027,889 $ 0 $ 100,382 $ 421,266 $ 739,569 $ 1,018,497 $ 1,188,405 $ 1,354,993 $ 1,533,901 $ 1,701,063 $ 1,786,763.26 $ 1,508,777.56 $ 11,353,618 AGREEMENT TO INCLUDE AGRICULTURAL LAND LOCATED WITHIN DUBUQUE COUNTY ROAD EASEMENT OF NORTH CASCADE ROAD FOR THE ESTABLISHMENT OF AN URBAN RENEWAL AREA This Agreement is made and entered into by and between the City of Dubuque, Iowa (hereinafter called "City"), and the undersigned .property owners (hereinafter called "Property Owners") in the proposed expansion of the urban renewal area for the North Cascade Road Housing Urban Renewal Area. WITNESSETH: WHEREAS, the City proposes to adopt an Urban Renewal Plan under Iowa Code Chapter 403 and proceed with activities authorized under that Chapter in the area described as the North Cascade Road Housing Urban Renewal Area, including but not limited to the division of revenue under Iowa Code Section 403.19; and WHEREAS, a description or map of the property to be included within the proposed North Cascade Road Housing Urban Renewal Area is attached hereto as Attachment A and made a part hereof; and WHEREAS, the undersigned Property Owners own "agricultural land" within said proposed urban renewal area, as that term is defined in Iowa Code Section 403.17(3), NOW, THEREFORE, be it agreed among the parties hereto as follows: 1. The undersigned Property Owners agree that the City may include real property owned by the undersigned Property Owners identified in the attached Exhibit A, in the proposed North Cascade Road Housing Urban Renewal Area, including any portions which may be defined as "agricultural land" under the provisions of Iowa Code 403.17(3). 2. The undersigned Property Owners further authorize the City Council of the City to pass any resolution or ordinance necessary to designate said property as an urban renewal area under Iowa Code Chapter 403. Dated this,/ " day of Attest: (.2)/ , 2014. Kevin ` . Firnstahl, Cty CITY OFO1JBU 11E,;tOWA Roy D. Bu Mayor Owner's Name: Jeffrey Arensdorf Address: PO Box 182 11800 Miners Ln Dubuque, IA 52003 By: Date: Witness: Owner's Name: Howard & Sandra Arensdorf Address: PO Box 182 11800 Miners Ln Dubuque, IA 52003 By: Date: Witness: Owner's Name: John Steger Address: 1890 JFK Rd Dubuque, IA 52002 By: Date: Witness: Owner's Name: Hevo H Tjarks Address: 1890 JFK Rd Dubuque, IA 52002 By: Date: Witness: Owner's Name: Ronald Valentine Address: 11470 Edval Lane Dubuque, IA 52003 By: Date: Witness: 21) SEPTEMOER 10, 2014 144,\)+Sdlesui Owner's Name: Gary Valentine Address: 11429 Edval, 11470 Edval Lane Dubuque, IA 52003 Vatier-;-, By: Date: l© -Id- ? C O I Witness: (2 S Owner's Name: William & Margaret Walser Address: 12430 Walser Lane Dubuque, IA 52003 Date: Witness: srP-ren e2 to, Zo14 PcJ S utuej Owner's Name: David Watters Address: 12171 N Cascade Rd Dubuque, IA 52003 By: (...,,„(2( Date: OC'fOgeR Z014- Witness: 014 Witness: 4 RESOLUTION NO. 331-14 A RESOLUTION OF NECESSITY FINDING THAT CERTAIN PROPERTY ALONG NORTH CASCADE ROAD IS AN ECONOMIC DEVELOPMENT AREA AND THAT THE DEVELOPMENT OF SAID AREA IS NECESSARY IN THE INTEREST OF THE RESIDENTS OF THE CITY OF DUBUQUE, IOWA. Whereas, the City Council has determined that the active development of property is a beneficial use that will enhance the City's ongoing economic development efforts; and Whereas, the City Council has determined that the area described in Section 1 below meets the definitions of an economic development area as defined in Chapter 403 "Urban Renewal" of the Iowa Code; and Whereas, a significant need for housing units exists in the community and local resources are needed to advance the development; and Whereas, Chapter 403 of the Iowa Code requires that before urban renewal authority may be exercised, a City Council must adopt a resolution of necessity finding that the area in question is a slum, blighted or economic development area, and that so designating such area is necessary in the interest of the public health, safety or welfare of the residents of the municipality. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. hat the area generally described in Attachment A to this Resolution is an economic development area as defined by Chapter 403 of the Iowa Code and is appropriate for an urban renewal project. Section 2. That the development of the North Cascade Road Housing Urban Renewal Area is necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning and local community objectives. Section 3. That the development of this area will provide new opportunities for quality housing and job creation in the community. Section 4. That the City Manager is authorized and directed to prepare an Urban Renewal Plan for the North Cascade Road Housing Urban Renewal Area, to forward said Plan to the City's Long Range Planning Commission for review and comment and to begin the consultation process required by law with affected taxing entities. Section 5. That the City Clerk is directed to publish notice of a public hearing on the adoption of an Urban Renewal Plan for the North Cascade Road Housing Urban Renewal Area to be held on the 1st day of December, 2014, at 6:30 p.m. in the Historic Federal Building in Dubuque, Iowa, 350 W. 6th Street, Dubuque, Iowa and that said notice shall generally identify the area covered by the Pian and the general scope of the Urban Renewal Plan activities planned for such area. Section 6. That the City Clerk is further directed to send by ordinary mail a copy of said Plan and notice of public hearing to the Dubuque Community School District, the County Board of Supervisors and the Northeast Iowa Community College, as the affected taxing entities. PASSED, APPROVED and ADOPTED this 20th day of Oct • ber, 2014. ATTEST: Kevin S. Firnstahl, City Ci k` Roy D. Buol, Mayor CITY OF DUBUQUE, IOWA OFFICIAL NOTICE NOTICE is hereby given that the Dubuque City Council will conduct a public hearing on December 1, 2014, at 6:30 p.m., in the second -floor chambers of the Historic Federal Building, 350 W. 6th Street, to consider a Resolution of Necessity finding that a Housing Urban Renewal Area for the North Cascade Road Area is necessary and in the interest of the residents of the City of Dubuque, Iowa. The City of Dubuque believes that the North Cascade Road Housing Urban Renewal Area ("Plan" or "Urban Renewal Plan") is being developed to help local officials promote economic development in the City of Dubuque ("City"). The primary goal of the Plan is to stimulate, through public involvement and commitment, private investment in new housing and residential development as defined by the Iowa Code Section 403.17(12). The North Cascade Road Housing Urban Renewal Area is identified generally as legally described lots in the Timber-Hyrst Estates Subdivision and all adjourning public right-of- way, all in the City of Dubuque, Dubuque County, Iowa. A copy of the North Cascade Road Housing Urban Renewal Area Plan is on file in the City Clerk's Office and may be viewed during normal working hours. At said time and place of public hearing all interested and citizens and parties will be given an opportunity to be heard for or against said proposal. Written comments regarding above proposal may be submitted to the City Clerk's Office on or before said time of public hearing at 50 w. 13th Street, Dubuque, IA 52001 or ctyclerk@cityofdubuque.org Any visual or hearing impaired persons needing special assistance or persons with special accessibility needs should contact the City Clerk's Office at (563) 589-4100 or TDD (563) 556-9948 at least 48 hours prior to the meeting. Published by order of the City Council given on the 20th day of October, 2014. Kevin S. Firnstahl, CMC City Clerk 1t 11/21