HomeMy Public PortalAboutResolution 2018-03, Approving An Engagement Agreement Between The City Of Riverdale, Iowa And Ahlers & Cooney Law P.C. To Provide Legal Services Required To modify The City's Urban Renewal Plan, Related To Proposed Development By Arconic, Inc. RESOLUTION NO. 2018-03
RESOLUTION APPROVING AN ENGAGEMENT
AGREEMENT BETWEEN THE CITY OF RIVERDALE, IOWA
AND AHLERS & COONEY LAW P.C. TO PROVIDE LEGAL
SERVICES REQUIRED TO MODIFY THE CITY'S URBAN
RENEWAL PLAN, RELATED TO PROPOSED
DEVELOPMENT BY ARCONIC, INC.
WHEREAS, the City Council of the City of Riverdale ("City") has been apprised by the
State of Iowa Economic Development Authority("IEDA") that IEDA and Arconic have
developed an economic development agreement under the Iowa High Quality Jobs Act,
involving among other credits, loans and other conditions, a rebate of potential new, incremental
real estate taxes requiring the matching of IEDA grants and loans by the City of Riverdale by
means of TIF rebates as set forth under the Iowa Code; and,
WHEREAS, The City must meet the various lawful requirements under the Iowa Code to
consider the extending of TIF rebates, and in order to represent itself and its constituents, shall
have a development agreement to properly set forth the understandings, requirements and
limitations by which it will join in the said development agreement with Arconic, Inc, and IEDA;
and,
WHEREAS, the City has an existing working relationship and understanding with the
firm of Ahlers & Cooney Law P.C.("Ahlers") for representation in matters related to TIF law
and associated development agreements; and,
WHEREAS, Ahlers has presented an Engagement Agreement to the City for its
consideration to prepare all necessary documents and assist the City in meeting the Iowa Code
requirements for modifying its Urban Renewal Plan and preparing a development agreement and
representing the City's interests in this matter.
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY
OF RIVERDALE IN THE STATE OF IOWA:
Section 1. That Ahlers letter of January 10, 2018 being an Engagement Agreement—
State Street Urban Renewal Plan proposes the scope of engagement for the Urban
Renewal/Economic Development matters related to the IEDA and Arconic proposed
development in Riverdale, and said letter is hereby attached to and becomes a part of this
resolution.
Section 2. That Ahlers estimates that this Engagement Agreement will entail work that
will cost between an estimated $7,000 and $17,000, and that Ahlers shall monthly or more
frequently advise the City of its ongoing and projected costs for continued authorization by the
City; and,
CITY OF RIVERDALE, IOWA RESOLUTION NO. 2018-03
PAGE 2
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Section 3. That it is the intent of the City to recapture its costs incurred from this
engagement with Ahlers or others from the first TIF proceeds generated from the Arconic
development project.
Section 4. That with the approval of the City Council,the Mayor shall sign and the City
Clerk shall attest his signature on the aforesaid Engagement Agreement.
PASSED AND APPROVED this day of , 2018.
4.01/k-.10+
ichael Bowden-, ayor
ATTEST:
ire
Ronald Fullerlove, City Clerk