HomeMy Public PortalAboutResolution 2021-08, A Resolution Fixing Date for a Public Hearing on the Proposal to Enter into a Development Agreement with Belmont Development Properties, LLC., and Providing for Publication of Notice ThereofMarch 9, 2021
The City Council of the City of Riverdale in the State of Iowa, met in Regular
session, at 7:00 P.M., on the above date. There were present Mayor Mike Bawden,
in the chair, and the following named Council Members:
Anthony Heddlesten, Paul DCamp, Doug Littrel, Kevin
Adams
Absent: Kelly Krell
Vacant: None
Council Member Littrel then introduced the following proposed Resolution
entitled "RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON THE PROPOSAL TO
ENTER INTO A DEVELOPMENT AGREEMENT WITH BELMONT DEVELOPMENT
PROPERTIES, LLC, AND PROVIDING FOR PUBLICATION OF NOTICE THEREOF", and
moved that the same be adopted. Council Member Dcamp seconded the
motion to adopt. The roll was called, and the vote was:
AYES: Heddlesten, DCamp, Littrel
NAYS: Adams
Whereupon, the Mayor declared the Resolution duly adopted as follows:
RESOLUTION 2021-08
RESOLUTION FIXING DATE FOR A PUBLIC HEARING ON THE PROPOSAL
TO ENTER INTO A DEVELOPMENT AGREEMENT WITH BELMONT
DEVELOPMENT PROPERTIES, LLC, AND PROVIDING FOR PUBLICATION
OF NOTICE THEREOF
WHEREAS, on March 23, 2021, this Council proposes to consider whether certain
areas located within the City are eligible and should be designated as an urban
renewal area under Iowa law, and proposes to approve and adopt the Fenno
Drive Urban Renewal Plan (the "Urban Renewal Plan" or "Plan") for the Fenno Drive
Urban Renewal Area (the "Urban Renewal Area" or "Area") described therein; and
WHEREAS, it is desirable that properties within the Area be redeveloped as part of
the overall redevelopment area covered by said Plan, if adopted; and
WHEREAS, the City has received a proposal from Belmont Development
Properties, LLC (the "Developer"), in the form of a proposed Development
Agreement (the "Agreement") by and between the City and the Developer,
pursuant to which, among other things, the Developer would agree to prepare
lots for single-family residential development and to construct certain Minimum
Improvements (as defined in the Agreement) consisting of Housing Units;
Infrastructure Improvements to serve the Housing Units including streets, sanitary
sewer, and storm sewer; and all related site improvements, on certain real
property located within the proposed Urban Renewal Area as defined and legally
described in the Agreement (the "Development Property"), all as outlined in the
proposed Agreement; and
WHEREAS, the Agreement further proposes that, under the terms and following
Developer's satisfaction of the conditions set forth in the Agreement, the City will
make up to ten (10) annual payments of Economic Development Grants to
Developer, in the amount of 80% of the Tax Increment generated by the
construction of the Minimum Improvements and collected pursuant to Iowa
Code Section 403.19, starting the first fiscal year in which the Tax Increments are
collected and ending after (i) ten (10) annual Economic Development Grants
have been paid, (ii) the maximum cumulative total of the Economic
Development Grants has been paid, or (iii) the Agreement is terminated pursuant
to its terms, whichever is sooner; the maximum cumulative total for all Economic
Development Grants not to exceed $436,000; and
WHEREAS, the Agreement also proposes that Developer and the City will enter
into a Minimum Assessment Agreement with the County setting the minimum
actual value of the Minimum Improvements for tax purposes at not less than
$2,070,000; and
WHEREAS, Chapters 15A and 403, Code of Iowa, (the "Urban Renewal Law")
authorize cities to make grants for economic development in furtherance of the
objectives of an urban renewal project and to appropriate such funds and make
such expenditures as may be necessary to carry out the purposes of said Chapter,
and to levy taxes and assessments for such purposes; and
WHEREAS, the Council has determined that the Agreement is in the best interests
of the City and the residents thereof and that the performance by the City of its
obligations thereunder is a public undertaking and purpose and in furtherance of
the Plan and the Urban Renewal Law and, further, that the Agreement and the
City's performance thereunder is in furtherance of appropriate economic
development activities and objectives of the City within the meaning of Chapters
15A and 403, Code of Iowa, taking into account the factors set forth therein; and
WHEREAS, neither the Urban Renewal Law nor any other Code provision sets forth
any procedural action required to be taken before said economic development
activities can occur under the Agreement, and pursuant to Section 364.6,Code
of Iowa, it is deemed sufficient if the action hereinafter described be taken and
the City Clerk publish notice of the proposal and of the time and place of the
meeting at which the Council proposes to take action thereon and to receive
oral and/or written objections from any resident or property owner of said City to
such action.
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF RIVERDALE
IN THE STATE OF IOWA:
Section 1. That this Council meet at 7:00 P.M. on March 23, 2021, for the
purpose of taking action on the matter of the proposal to enter into a
Development Agreement with Belmont Development Properties, LLC.
Section 2. That the City Clerk is hereby directed to cause at least one
publication to be made of a notice of said meeting, in a legal newspaper, printed
wholly in the English language, published at least once weekly, and having
general circulation in said City, said publication to be not less than four (4) clear
days nor more than twenty (20) days before the date of said public meeting.
Section 3. The notice of the proposed action shall be in substantially the
following form:
ao
(One publication required)
NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE
CITY OF RIVERDALE IN THE STATE OF IOWA, ON THE MATTER OF
THE PROPOSAL TO ENTER INTO A DEVELOPMENT AGREEMENT
WITH BELMONT DEVELOPMENT PROPERTIES, LLC, AND THE
HEARING THEREON
PUBLIC NOTICE is hereby given that the Council of the City of Riverdale in the State
of Iowa, will hold a public hearing on March 23, 2021, at 7:00 P.M., at which meeting the
Council proposes to take action on the proposal to enter into a Development
Agreement (the "Agreement") with Belmont Development Properties, LLC (the
"Developer").
Due to public health concerns related to COVID-19, this meeting may be held in
person or it may be held electronically, depending on the severity of the COVID-19
pandemic at the time. An announcement of whether the meeting will be held in person
or electronically will be made no less than 24 hours prior to the meeting.
If the meeting is held in person, it shall be held in the Council Chambers, City Hall,
110 Manor Drive, Riverdale, Iowa.
If the meeting is held electronically because an in -person meeting is impossible or
impractical, public access information will be made available no less than 24 hours prior
to the meeting.
Any person or organization desiring to be heard shall be afforded an opportunity
to be heard at such hearing. Please check the posted agenda in advance of the March
23, 2021 meeting for any updates to the manner in which the public may access the
hearing. Please contact the City Administrator's office at (563) 355-2511 or
cityadmin@riverdaleia.orq if you have questions about the format of the meeting, or to
request a copy of the Agreement.
The Agreement would obligate the Developer to construct certain Minimum
Improvements (as defined in the Agreement) consisting of Housing Units; the
Infrastructure Improvements to serve the Housing Units including streets, sanitary sewer,
and storm sewer; and all related site improvements, on certain real property located
within the proposed Fenno Drive Urban Renewal Area as defined and legally described
in the Agreement (the "Development Property"), under the terms and following
satisfaction of the conditions set forth in the Agreement.
The Agreement would further obligate the City to make up to ten annual payments of
Economic Development Grants to Developer in the amount of 80% of the Tax
Increment generated by the construction of the Minimum Improvements and collected
pursuant to Iowa Code Section 403.19, under the terms and following satisfaction of the
conditions set forth in the Agreement. The Economic Development Grants would start
the first fiscal year in which Tax Increments were collected and would end after (i) 10
annual Economic Development Grants have been paid, (ii) the maximum
cumulative total of the Economic Development Grants has been paid, or (iii) the
Agreement terminates pursuant to its terms, whichever is sooner. The maximum
cumulative total for all Economic Development Grants is not to exceed $436,000.
The Agreement also proposes that Developer and the City will enter into a
Minimum Assessment Agreement with the County setting the minimum actual value of
the Minimum Improvements for tax purposes at not less than $2,070,000.
A copy of the Agreement is on file for public inspection during regular business
hours in the office of the City Clerk, City Hall, City of Riverdale, Iowa.
At the above meeting the Council shall receive oral or written objections from any
resident or property owner of said City, to the proposal to enter into the Agreement with
the Developer. After all objections have been received and considered, the Council will
at this meeting or at any adjournment thereof, take additional action on the proposal or
will abandon the proposal to authorize said Agreement.
This notice is given by order of the City Council of the City of Riverdale in the State
of Iowa, as provided by Section 364.6, Code of Iowa.
CVDated this CV -W.\ day of I VLAiri , 2021.
''Ai
atie Enloe Deputy City Clerk, City of
Riverdale in the State of Iowa
(End of Notice)
PASSED AND APPROVED this 9th day of March, 2021.
ATTEST:
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a ie Enloe, Deputy City Clerk
CERTIFICATE
STATE OF IOWA
SS
COUNTY OF SCOTT
I, the undersigned City Clerk of the City of Riverdale, State of Iowa, do
hereby certify that attached is a true and complete copy of the portion of the
records of the City showing proceedings of the Council, and the same is a true
and complete copy of the action taken by the Council with respect to the matter
at the meeting held on the date indicated in the attachment, which proceedings
remain in full force and effect, and have not been amended or rescinded in any
way; that meeting and all action thereat was duly and publicly held in
accordance with a notice of meeting and tentative agenda, a copy of which
was timely served on each member of the Council and posted on a bulletin
board or other prominent place easily accessible to the public and clearly
designated for that purpose at the principal office of the Council pursuant to the
local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon
reasonable advance notice to the public and media at least twenty-four hours
prior to the commencement of the meeting as required by law and with members
of the public present in attendance; I further certify that the individuals named
therein were on the date thereof duly and lawfully possessed of their respective
city offices as indicated therein, that no Council vacancy existed except as may
be stated in the proceedings, and that no controversy or litigation is pending,
prayed or threatened involving the incorporation, organization, existence or
boundaries of the City or the right of the individuals named therein as officers to
their respective positions.
qd_
WI N SS my hand and the seal of the Council hereto affixed this
day of VI \ , 2021.
Katie Enloe Deputy City Clerk, City of
Riverdale, State of Iowa
(SEAL)