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HomeMy Public PortalAboutResolutions-2017-060 DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Tiffin / 436989-17 / Hold Hrg & App Dev Agmt AA HOLD HEARING ON AND APPROVE DEVELOPMENT AGREEMENT AND TAX INCREMENT PAYMENTS (80/380, LLC) 436989-17 Tiffin, Iowa August 1, 2017 A meeting of the City Council of the City of Tiffin, Iowa, was held at seven p.m., on August 1, 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: Peggy Upton, James Bartels, Al Havens, Mike Ryan, Jo Kahler 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 80/380, 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.) Nothing received at City Hall and no public present. 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: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Tiffin / 436989-17 / Hold Hrg & App Dev Agmt AA Council Member Ryan introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Havens; 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, Bartels, Kahler, Ryan, Havens. Nays: None. Whereupon, the Mayor declared said resolution duly adopted, as follows: -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Tiffin / 436989-17 / Hold Hrg & App Dev Agmt AA RESOLUTION NO. 2017-060 Resolution Approving Development Agreement with 80/380, LLC, Authorizing Annual Appropriation Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement to and in strict compliance 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 Tiffin 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 of I 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 between the City and has been prepared, pursuant to which the Developer would undertakethe development of new commercial lots in the Urban Renewal Area and the construction of corresponding public infrastructure improvements, including the extension of and WHEREAS, under the Agreement, the City would provide annual appropriation tax increment payments to the Developer in a total amount not exceeding $500,000; 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 August 1, 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: Section 1. Pursuant to the factors listed in Chapter 15A, the City Council hereby finds that: -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Tiffin / 436989-17 / Hold Hrg & App Dev Agmt AA (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 be payable solely from 80/380, LLC Subfund 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: \[See Exhibit A & Exhibit B\] Section 5. The City hereby pledges to the payment of the Agreement the 80/380, LLC 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 80/380, LLC 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 80/380, LLC 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 County Auditor shall allocate the taxes in accordance therewith and in accordance with the tax allocation ordinance referred to in the preamble hereof. -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Tiffin / 436989-17 / Hold Hrg & App Dev Agmt AA Section 7. All resolutions or parts thereof in conflict herewith are hereby repealed. Passed and approved August 1, 2017. Mayor Attest: City Clerk On motion and vote the meeting adjourned. Mayor Attest: City Clerk -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Tiffin / 436989-17 / Hold Hrg & App Dev Agmt AA STATE OF IOWA COUNTY 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 -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 EXHIBIT A Parcel 1 Legal Description: Part of the Northeast Quarter of Section 33 and part of Lot 1, Wombacher's Subdivision of said Northeast Quarter, recorded May 16, 1978, in Plat Book 17, Page 69, in the Johnson County Recorder's office, and part of the Northwest Quarter of Section 34, all in Township 80 North, Range 7 West of the 5th P.M., City of Tiffin, Johnson County, Iowa, and more particularly described as follows: Beginning at the Northeast Corner of Lot 2, The Villages of Tiffin - Phase One, Johnson County, Iowa, recorded November 13, 2009, in Plat Book 54, Page 226, in the Johnson County Recorder's office; North 01° 32' 56 "West (Record Bearing), 80.00 Feet Thence along the east line of said Villages of Tiffin - Phase One to the Southeast Corner of Lot 4 of said Villages of Tiffin - Phase One; North 88° 26' 26" East, 34.30 Feet Thence to the Point of Curvature of a Tangent Curve; Easterly, 246.21 Feet Thence along the arc of a 540.00 Foot Radius Curve, Concave Southerly, said South 78° 29' 51" East, 244.08 Feet Curve having a Long Chord of to the Point of Tangency; South 65° 26' 08" East, 225.80 Feet Thence to the Point of Curvature of a Tangent Curve; Easterly, 238.58 Feet Thence along the arc of a 560.00 Foot Radius Curve, Concave Northerly, said South 77° 38' 27" East, 236.78 Feet Curve having a Long Chord of to the Point of Tangency; South 89° 50' 45" East, 1506.23 Feet Thence ; South 00° 09' 15" West, 80.00 Feet Thence ; North 89° 50' 45" West, 1506.24 Feet Thence to the Point of Curvature of a Tangent Curve; Westerly, 272.66 Feet Thence along the arc of a 640.00 Foot Radius Curve, Concave Northerly, said North 77° 38' 27" West, 270.61 Feet Curve having a Long Chord of to the Point of Tangency; North 65° 26' 08" West, 225.80 Feet Thence to the Point of Curvature of a Tangent Curve; Westerly, 209.74 Feet Thence along the arc of a 460.00 Foot Radius Curve, Concave Southerly, said North 78° 29' 51" West, 207.92 Feet Curve having a Long Chord of to the Point of Tangency; South 88° 26' 26" West, 34.31 Feet Thence along said Line to the Point of Beginning, 4.132 Acres Containing , subject to easements and restrictions of record. 801 Grand Avenue | Suite 4100 | Des Moines, IA | 50309-2790 | 4 515.283.1000 | & 515.283.1060 | dorsey.com DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 EXHIBIT B Commercial Area Legal Description: Part of the Northeast Quarter of Section 33 and part of Lot 1, Wombacher's Subdivision of said Northeast Quarter, recorded May 16, 1978, in Plat Book 17, Page 69, in the Johnson County Recorder's office, and part of the Northwest Quarter of Section 34, all in Township 80 North, Range 7 West of the 5th P.M., City of Tiffin, Johnson County, Iowa, and more particularly described as follows: Commencing at the Northeast Corner of the Southeast Quarter of the Northeast Quarter of said Section 33; South 01° 35' 58" East (Record Bearing), 502.89 Feet Thence along the East Line of said Section 33 to the Point of Beginning; South 89° 50' 45 " East, 174.07 Feet Thence ; South 00° 09' 15" West, 835.80 Feet Thence to the Northerly Right-of-Way Line of Interstate 80; South 85° 29' 65" West, 148.65 Feet Thence along said Right-of-Way Line; South 86° 24' 29" West, 888.30 Feet Thence along said Right-of-Way Line; North 89° 49' 19" West, 681.46 Feet Thence along said Right-of-Way Line; North 65° 33' 22" West, 370.49 Feet Thence along said Northerly Line to the Southeast Corner of Auditor's Parcel No. 2017-004, recorded March 8, 2017, in Book 61, Page 20, in the Johnson County Recorder's office; North 01° 32' 56" West, 619.77 Feet Thence along the East Line of said Parcel; South 88° 27' 04" West, 135.00 Feet Thence along the North Line of said Parcel to the East Line of The Villages of Tiffin - Phase One, Johnson County, Iowa, recorded November 13, 2009, in Plat Book 54, Page 226, in the Johnson County Recorder's office; North 01° 32' 56" West, 328.28 Feet Thence along said East Line to the Northerly Right-of-Way Line of Village Drive and Southerly Line of Auditor's Parcel No. 2010-083, recorded December 20, 2010, in Book 55, Page 181, in the Johnson County Recorder's office; North 88° 26' 26" East, 14.94 Feet Thence along said Northerly Line; North 01° 32' 56" West, 180.00 Feet Thence ; North 88° 27' 04" West, 298.05 Feet; Thence to the Easterly Line of said Parcel 2010-083 North 01° 32' 56" West, 38.47 Feet Thence along said Easterly Line to the South Line of Auditor's Parcel No. 2013-071 recorded October 8,2013, in Book 58, Page 18, in the Johnson County Recorder's office; North 88° 27' 04" West, 506.86 Feet; Thence to the Southeast Corner of said Parcel No. 2013-071 South 00° 09' 15" West, 203.11 Feet; Thence South 89° 50' 45" East, 1173.03 Feet; Thence South 01° 34' 57" East, 230.11 Feet; Thence South 89° 50' 45" East, 49.78 Feet Thence to the Point of Beginning, Containing 55.648 Acres , subject to easements and restrictions of record. 801 Grand Avenue | Suite 4100 | Des Moines, IA | 50309-2790 | 4 515.283.1000 | & 515.283.1060 | dorsey.com DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Commercial Area Legal Description: Part of the Northeast Quarter of Section 33 and part of Lot 1, Wombacher's Subdivision of said Northeast Quarter, recorded May 16, 1978, in Plat Book 17, Page 69, in the Johnson County Recorder's office, and part of the Northwest Quarter of Section 34, all in Township 80 North, Range 7 West of the 5th P.M., City of Tiffin, Johnson County, Iowa, and more particularly described as follows: Commencing at the Northeast Corner of the Southeast Quarter of the Northeast Quarter of said Section 33; South 01° 35' 58" East (Record Bearing), 502.89 Feet Thence along the East Line of said Section 33 to the Point of Beginning; South 89° 50' 45 " East, 174.07 Feet Thence ; South 00° 09' 15" West, 835.80 Feet Thence to the Northerly Right-of-Way Line of Interstate 80; South 85° 29' 65" West, 148.65 Feet Thence along said Right-of-Way Line; South 86° 24' 29" West, 888.30 Feet Thence along said Right-of-Way Line; North 89° 49' 19" West, 681.46 Feet Thence along said Right-of-Way Line; North 65° 33' 22" West, 370.49 Feet Thence along said Northerly Line to the Southeast Corner of Auditor's Parcel No. 2017-004, recorded March 8, 2017, in Book 61, Page 20, in the Johnson County Recorder's office; North 01° 32' 56" West, 619.77 Feet Thence along the East Line of said Parcel; South 88° 27' 04" West, 135.00 Feet Thence along the North Line of said Parcel to the East Line of The Villages of Tiffin - Phase One, Johnson County, Iowa, recorded November 13, 2009, in Plat Book 54, Page 226, in the Johnson County Recorder's office; North 01° 32' 56" West, 328.28 Feet Thence along said East Line to the Northerly Right-of-Way Line of Village Drive and Southerly Line of Auditor's Parcel No. 2010-083, recorded December 20, 2010, in Book 55, Page 181, in the Johnson County Recorder's office; North 88° 26' 26" East, 14.94 Feet Thence along said Northerly Line; North 01° 32' 56" West, 180.00 Feet Thence ; North 88° 27' 04" West, 298.05 Feet; Thence to the Easterly Line of said Parcel 2010-083 North 01° 32' 56" West, 38.47 Feet Thence along said Easterly Line to the South Line of Auditor's Parcel No. 2013-071 recorded October 8,2013, in Book 58, Page 18, in the Johnson County Recorder's office; North 88° 27' 04" West, 506.86 Feet; Thence to the Southeast Corner of said Parcel No. 2013-071 South 00° 09' 15" West, 203.11 Feet; Thence South 89° 50' 45" East, 1173.03 Feet; Thence South 01° 34' 57" East, 230.11 Feet; Thence South 89° 50' 45" East, 49.78 Feet Thence to the Point of Beginning, 55.648 Acres Containing , subject to easements and restrictions of record. DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944 DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Parcel 1 Legal Description: Part of the Northeast Quarter of Section 33 and part of Lot 1, Wombacher's Subdivision of said Northeast Quarter, recorded May 16, 1978, in Plat Book 17, Page 69, in the Johnson County Recorder's office, and part of the Northwest Quarter of Section 34, all in Township 80 North, Range 7 West of the 5th P.M., City of Tiffin, Johnson County, Iowa, and more particularly described as follows: Beginning at the Northeast Corner of Lot 2, The Villages of Tiffin - Phase One, Johnson County, Iowa, recorded November 13, 2009, in Plat Book 54, Page 226, in the Johnson County Recorder's office; North 01° 32' 56 "West (Record Bearing), 80.00 Feet Thence along the east line of said Villages of Tiffin - Phase One to the Southeast Corner of Lot 4 of said Villages of Tiffin - Phase One; North 88° 26' 26" East, 34.30 Feet Thence to the Point of Curvature of a Tangent Curve; Easterly, 246.21 Feet Thence along the arc of a 540.00 Foot Radius Curve, Concave Southerly, said South 78° 29' 51" East, 244.08 Feet Curve having a Long Chord of to the Point of Tangency; South 65° 26' 08" East, 225.80 Feet Thence to the Point of Curvature of a Tangent Curve; Easterly, 238.58 Feet Thence along the arc of a 560.00 Foot Radius Curve, Concave Northerly, said South 77° 38' 27" East, 236.78 Feet Curve having a Long Chord of to the Point of Tangency; South 89° 50' 45" East, 1506.23 Feet Thence ; South 00° 09' 15" West, 80.00 Feet Thence ; North 89° 50' 45" West, 1506.24 Feet Thence to the Point of Curvature of a Tangent Curve; Westerly, 272.66 Feet Thence along the arc of a 640.00 Foot Radius Curve, Concave Northerly, said North 77° 38' 27" West, 270.61 Feet Curve having a Long Chord of to the Point of Tangency; North 65° 26' 08" West, 225.80 Feet Thence to the Point of Curvature of a Tangent Curve; Westerly, 209.74 Feet Thence along the arc of a 460.00 Foot Radius Curve, Concave Southerly, said North 78° 29' 51" West, 207.92 Feet Curve having a Long Chord of to the Point of Tangency; South 88° 26' 26" West, 34.31 Feet Thence along said Line to the Point of Beginning, 4.132 Acres Containing , subject to easements and restrictions of record. DocuSign Envelope ID: 7C08A327-EC10-423C-A86E-FF290343C944 DocuSign Envelope ID: 1561762A-FA7C-4E41-8EB2-0E01B53840E7 Certificate Of Completion Envelope Id: 7C08A327EC10423CA86EFF290343C944Status: Completed Subject: Please DocuSign: 2017-060 - Hold Hrg Dev Agmt AA (Tiffin-17 2017).doc, RISE_Commercial_Area_Leg... Source Envelope: Document Pages: 12Signatures: 5Envelope 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: 10.103.101.11 Record Tracking Status: OriginalHolder: ASHLEY PLATZLocation: DocuSign 8/16/2017 9:46:38 AM AJAY@TIFFIN-IOWA.ORG Signer EventsSignatureTimestamp Steve BernerSent: 8/16/2017 10:15:16 AM steven.lee.berner@gmail.comViewed: 8/16/2017 10:44:03 AM Security Level: Email, Account Authentication Signed: 8/16/2017 10:44:17 AM (None) Using IP Address: 199.120.90.9 Electronic Record and Signature Disclosure: Accepted: 8/16/2017 10:44:03 AM ID: 10394cb3-dc77-42ab-8d33-7623c6af2d6a Doug BoldtSent: 8/16/2017 10:44:18 AM dboldt@tiffin-iowa.orgViewed: 8/16/2017 10:47:22 AM Security Level: Email, Account Authentication Signed: 8/16/2017 10:47:31 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/Encrypted8/16/2017 10:44:18 AM Certified DeliveredSecurity Checked8/16/2017 10:47:22 AM Signing CompleteSecurity Checked8/16/2017 10:47:31 AM Envelope Summary EventsStatusTimestamps CompletedSecurity Checked8/16/2017 10:47:31 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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