HomeMy Public PortalAboutResolutions-2017-060
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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.
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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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:
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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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:
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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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.
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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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
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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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
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DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA
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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.
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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
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