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Home My Public Portal AboutResolutions-2017-035 DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA HOLD HEARING ON AND APPROVE DEVELOPMENT AGREEMENT AND TAX INCREMENT PAYMENTS (DERS Development, LLC) 436989-16 Tiffin, Iowa June 6, 2017 A meeting of the City Council of the City of Tiffin, Iowa, was held at seven p.m., on June 6, 2017, at the City Hall Council Chambers, Tiffin, Iowa, pursuant to the rules of the Council. The Mayor presided and the roll was called, showing members present and absent as follows: Present: Upton, Kahler, Bartels, Havens, Ryan Absent: None. The City Council investigated and found that notice of the intention of the Council to conduct a public hearing on a Development Agreement between the City and DERS Development, LLC had been published according to law and as directed by the City Council and that this is the time and place at which the Council shall receive oral or written objections from any resident or property owner of the City. All written objections, statements, and evidence heretofore filed were reported to the Council, and all oral objections, statements, and all other exhibits presented were considered. The following named persons presented oral objections, statements, or evidence as summarized below; filed written objections or statements, copies of which are attached hereto; or presented other exhibits, copies of which are attached hereto: (Here list all persons presenting written or oral statements or evidence and summarize each presentation.) NONE. There being no further objections or comments, the Mayor announced that the hearing was closed. -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA Council Member Kahler introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Bartels; and after due consideration thereof by the City Council, the Mayor put the question upon the adoption of said resolution, and the roll being called, the following named Council Members voted: Ayes: Upton, Kahler, Bartels, Havens, Ryan Nays: None. Whereupon, the Mayor declared said resolution duly adopted, as follows: -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA RESOLUTION NO. 2017-035 Resolution Approving Development Agreement with DERS Development, LLC, Authorizing Annual Appropriation Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement WHEREAS, the City of Tiffin with all laws applicable to the City, and in particular the provisions of Chapter 403 of the Code of Iowa, has adopted an Urban Renewal Plan for the 2017 Park Place Commercial Urban Renewal Area WHEREAS, this City Council has adopted an ordinance providing for the division of taxes levied on taxable property in the Urban Renewal Area pursuant to Section 403.19 of the Code of Iowa and establishing the fund referred to in Subsection 2 of Section 403.19 of the Code to in that subsection may be irrevocably pledged by the City for the payment of the principal and interest on indebtedness incurred under the authority of Section 403.9 of the Code of Iowa to finance or refinance in whole or in part projects in the Urban Renewal Area; and WHEREAS, a certain development agreement between the City and DERS Development, LLC Developer has been prepared, pursuant to which the Developer would undertake the development of commercial real estate and the corresponding improvements to Park Road, Oakdale Road and Forevergreen Road necessary for such commercial development in the Urban Renewal Area; and WHEREAS, under the Agreement, the City would provide annual appropriation tax increment payments to the Developer in a total amount not exceeding $12,000,000; and WHEREAS, this City Council, pursuant to Section 403.9 of the Code of Iowa, has published notice, has held a public hearing on the Agreement on June 6, 2017, and has otherwise complied with statutory requirements for the approval of the Agreement; and WHEREAS, Chapter development is a public purpose for which a City may provide grants, loans, tax incentives, guarantees and other financial assistance to or for the benefit of private persons; and WHEREAS, Chapter 15A requires that before public funds are used for grants, loans, tax incentives or other financial assistance, a City Council must determine that a public purpose will reasonably be accomplished by the spending or use of those funds; and WHEREAS, Chapter 15A requires that in determining whether funds should be spent, a City Council must consider any or all of a series of factors; NOW, THEREFORE, It Is Resolved by the City Council of the City of Tiffin, Iowa, as follows: -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA Section 1. Pursuant to the factors listed in Chapter 15A, the City Council hereby finds that: (a) The Project will add diversity and generate new opportunities for the Tiffin and Iowa economies; (b) The Project will generate public gains and benefits, particularly in the creation of new jobs, which are warranted in comparison to the amount of the proposed property tax incentives. Section 2. The City Council further finds that a public purpose will reasonably be accomplished by entering into the Agreement and providing the incremental property tax payments to the Developer. Section 3. The Agreement is hereby approved and the Mayor and City Clerk are hereby authorized and directed to execute and deliver the Agreement on behalf of the City, in substantially the form and content in which the Agreement has been presented to this City Council, and such officers are also authorized to make such changes, modifications, additions or deletions as they, with the advice of bond counsel, may believe to be necessary, and to take such actions as may be necessary to carry out the provisions of the Agreement. Section 4. All payments by the City under the Agreement shall be subject to annual appropriation by the City Council, in the manner set out in the Agreement. As provided and required by Chapter s obligations under the Agreement shall be payable solely from DERS Development Subfund established, into which shall be paid that portion of the income and proceeds of the Urban Renewal Tax Revenue Fund attributable to property taxes derived from the property as described as follows: A PORTION OF THE SOUTH ONE-HALF OF SECTION 22, AND A PORTION OF THE NORTH ONE-HALF OF SECTION 27, ALL OF TOWNSHIP 80 NORTH, RANGE 7 WEST, OF THE FIFTH PRINCIPAL MERIDIAN, TIFFIN, JOHNSON COUNTY, IOWA, DESCRIBED AS FOLLOWS: BEGINNING AT THE CENTER OF SECTION 22, TOWNSHIP 80 NORTH, RANGE 7 WEST, OF THE FIFTH PRINCIPAL MERIDIAN, TIFFIN, JOHNSON COUNTY, IOWA; THENCE S01°21'28"E, ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 22, A DISTANCE OF 1326.34 FEET, TO THE SOUTHEAST CORNER THEREOF; THENCE N89°38'45"E, ALONG THE NORTH LINE OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 22, A DISTANCE OF 1181.03 FEET, TO ITS INTERSECTION WITH THE WEST RIGHT-OF-WAY LINE OF INTERSTATE NO. 380; THENCE S10°25'53"W, ALONG SAID WEST RIGHT-OF- WAY LINE, 397.76 FEET; THENCE S01°07'24"E, ALONG SAID WEST RIGHT-OF- WAY LINE 700.00 FEET; THENCE S03°59'09"E, ALONG SAID WEST RIGHT-OF- WAY LINE, 200.25 FEET; THENCE S05°24'45"E, ALONG SAID WEST RIGHT-OF- WAY LINE, 401.12 FEET; THENCE S12°26'00"E, ALONG SAID WEST RIGHT-OF- WAY LINE, 203.96 FEET; THENCE S01°07'24"E, ALONG SAID WEST RIGHT-OF- -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA WAY LINE, 300.00 FEET; THENCE S13°48'29"W, ALONG SAID WEST RIGHT-OF- WAY LINE, 310.48 FEET; THENCE S16°03'17"E, ALONG SAID WEST RIGHT-OF- WAY LINE, 158.10 FEET, TO ITS INTERSECTION WITH THE SOUTH LINE OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 27, TOWNSHIP 80 NORTH, RANGE 7 WEST, OF THE FIFTH PRINCIPAL MERIDIAN; THENCE S89°20'11"W, ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER OF THE NORTHEAST QUARTER, 1148.78 FEET, TO THE SOUTHWEST CORNER THEREOF; THENCE S89°40'17"W, ALONG THE SOUTH LINE OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 27, A DISTANCE OF 369.54 FEET; THENCE N00°04'34"W, 275.95 FEET, TO THE SOUTHWEST CORNER OF SIMPSON'S FIRST ADDITION, IN ACCORDANCE WITH THE RECORDED PLAT THEREOF; THENCE N89°22'03"E, ALONG THE SOUTH LINE OF SAID SIMPSON'S FIRST ADDITION, 228.06 FEET; THENCE N00°04'34"W, ALONG SAID SOUTH LINE, 114.00 FEET; THENCE N89°24'56"E, ALONG SAID SOUTH LINE, 77.63 FEET; THENCE N00°35'56"W, 355.94 FEET, TO A POINT ON THE NORTH LINE OF SAID SIMPSON'S FIRST ADDITION; THENCE S88°47'21"W, ALONG SAID NORTH LINE, 302.49 FEET, TO THE NORTHWEST CORNER THEREOF; THENCE N09°27'19"W, 290.15 FEET; THENCE N22°47'26"W, 249.51 FEET; THENCE N28°34'15"W, 303.20 FEET; THENCE N19°14'26"W, 50.00 FEET; THENCE S70°45'54"W, 181.75 FEET; THENCE S73°03'00"W, 167.46 FEET; THENCE N16°57'00"W, 103.39 FEET; THENCE S70°45'34"W, 150.74 FEET; THENCE SOUTHWESTERLY, 354.64 FEET, ALONG A 1750.00 FOOT RADIUS CURVE, CONCAVE NORTHWESTERLY, WHOSE 354.04 FOOT CHORD BEARS S76°33'54"W; THENCE N07°37'46"W, 468.90 FEET; THENCE N06°43'24"W, 216.96 FEET; THENCE N19°05'47"E, 163.29 FEET; THENCE N00°17'48"W, 209.08 FEET; THENCE N34°27'42"W, 154.31 FEET; THENCE N27°21'08"W, 182.12 FEET; THENCE N11°27'19"W, 29.36 FEET; THENCE N89°29'44"E, 557.97 FEET; THENCE N00°30'16"W, 730.00 FEET; THENCE N89°29'44"E, 16.32 FEET; THENCE N88°12'50"W, 250.20 FEET; THENCE S89°29'44"W, 176.39 FEET; THENCE N00°30'16"W, 100.00 FEET; THENCE N89°29'44"E, 12.50 FEET; THENCE N0°30'16"W, 330.14 FEET, TO A POINT ON THE NORTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 22; THENCE N89°30'03"E, ALONG SAID NORTH LINE, 1543.05 FEET, TO THE POINT OF BEGINNING. SAID URBAN RENEWAL AREA CONTAINS 160.87 ACRES, AND IS SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD. Section 5. The City hereby pledges to the payment of the Agreement the DERS Development Subfund and the taxes referred to in Subsection 2 of Section 403.19 of the Code of Iowa to be paid into such Subfund, provided, however, that no payment will be made under the Agreement unless and until monies from the DERS Development Subfund are appropriated for such purpose by the City Council. Section 6. After its adoption, a copy of this resolution shall be filed in the office of the County Auditor of Johnson County to evidence the continuing pledging of the DERS Development Subfund and the portion of taxes to be paid into such Subfund and, pursuant to the direction of Section 403.19 of the Code of Iowa, the Auditor shall allocate the taxes in accordance therewith and in accordance with the tax allocation ordinance referred to in the preamble hereof. -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA Section 7. All resolutions or parts thereof in conflict herewith are hereby repealed. Passed and approved June 6, 2017. Mayor Pro-Tem Attest: City Clerk On motion and vote the meeting adjourned. Mayor Pro-Tem Attest: City Clerk -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 Tiffin/ 436989-16/ Hold Hrg & App Dev Agmt AA STATE OF IOWA COUNTIES OF JOHNSON SS: CITY OF TIFFIN I, the undersigned, Clerk of the City of Tiffin, hereby certify that the foregoing is a true and correct copy of the minutes of the Council of the City relating to holding a public hearing and adopting a resolution to approve a Development Agreement. WITNESS MY HAND this _____ day of _______________________, 2017. City Clerk -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 0428A9FA-91CA-4028-A6DB-4F48ADF274D4 June 2, 2017 VIA EMAIL Doug Boldt City Administrator/City Hall Tiffin, IA Re: DERS Development, LLC Development Agreement File No. 436989-16 Dear Doug: Attached please find the proposed Development Agreement with DERS Development, LLC, followed by a resolution approving the Agreement and pledging certain incremental property tax revenues to the payment of the Agreement. We would appreciate receiving one fully executed copy of these proceedings and of the executed Development Agreement as soon as they are available. Please call John Danos or me with questions. Kind regards, Amy Bjork Attachments cc: Ashley Jay-Platz Certificate Of Completion Envelope Id: 0428A9FA91CA4028A6DB4F48ADF274D4Status: Completed Subject: Please DocuSign: 2017-034 - Hold Hrg Approve UR Amend no adds (Tiffin-16 2017).docx, 2017-034 ... Source Envelope: Document Pages: 24Signatures: 20Envelope Originator: Supplemental Document Pages: 0Initials: 0ASHLEY PLATZ Certificate Pages: 5 AutoNav: EnabledPayments: 0300 Railroad St EnvelopeId Stamping: EnabledPO Box 259 Time Zone: (UTC-08:00) Pacific Time (US & Tiffin, IA 52340 Canada)AJAY@TIFFIN-IOWA.ORG IP Address: 10.102.101.11 Record Tracking Status: OriginalHolder: ASHLEY PLATZLocation: DocuSign 6/9/2017 8:03:42 AM AJAY@TIFFIN-IOWA.ORG Signer EventsSignatureTimestamp Mike RyanSent: 6/9/2017 8:08:40 AM mcryan@me.comViewed: 6/9/2017 11:30:06 AM Security Level: Email, Account Authentication Signed: 6/9/2017 11:32:19 AM (None) Using IP Address: 70.198.34.202 Signed using mobile Electronic Record and Signature Disclosure: Accepted: 6/9/2017 11:30:06 AM ID: 3c29d9b5-a292-42d3-ab7f-3dc8371ff107 Doug BoldtSent: 6/9/2017 11:32:22 AM dboldt@tiffin-iowa.orgViewed: 6/9/2017 11:45:44 AM Security Level: Email, Account Authentication Signed: 6/9/2017 11:47:22 AM (None) Using IP Address: 69.63.16.128 Electronic Record and Signature Disclosure: Accepted: 11/15/2016 7:19:16 AM ID: e71e6fed-796e-4f6c-b8a2-9a25882d8617 In Person Signer EventsSignatureTimestamp Editor Delivery EventsStatusTimestamp Agent Delivery EventsStatusTimestamp Intermediary Delivery EventsStatusTimestamp Certified Delivery EventsStatusTimestamp Carbon Copy EventsStatusTimestamp Notary EventsSignatureTimestamp Envelope Summary EventsStatusTimestamps Envelope SentHashed/Encrypted6/9/2017 11:32:22 AM Certified DeliveredSecurity Checked6/9/2017 11:45:45 AM Signing CompleteSecurity Checked6/9/2017 11:47:22 AM Envelope Summary EventsStatusTimestamps CompletedSecurity Checked6/9/2017 11:47:22 AM Payment EventsStatusTimestamps Electronic Record and Signature Disclosure CONSUMER DISCLOSURE From time to time, CITY OF TIFFIN, IOWA (we, us or Company) may be required by law to provide to you certain written notices or disclosures. 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