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Home My Public Portal AboutResolutions-2015-102Tiffin/436989-12/Dev. Agmt - Hold Hrg HOLD HEARING ON AND APPROVE DEVELOPMENT AGREEMENT AND TAX INCREMENT PAYMENTS (Hart Dentistry) 436989-12 Tiffin, Iowa September 22, 2015 A meeting of the City Council of the City of Tiffin, Iowa, was held at seven o'clock p.m., on September 22, 2015, 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: James Bartels, Peggy Upton, 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 the Hart Dentistry in connection with the development of new dental office facilities situated at 403 Deer View Avenue in the Urban Renewal Area, which Agreement provides for certain financial incentives in the form of annual appropriation, incremental property tax payments in a total amount not exceeding $45,000, had been published according to law and as directed by the 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.) There being no further objections or comments, the Mayor announced that the hearing was closed. -1- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/Dev. Agmt - Hold Hrg Council Member Upton introduced the resolution next hereinafter set out and moved its adoption, seconded by Council Member Havens; and after due consideration thereof by the Council, the Mayor put the question upon the adoption of said resolution, and the roll being called, the following named Council Members voted: Ayes: Bartels, Havens, Kahler, Ryan, Upton Nays: None. Whereupon, the Mayor declared said resolution duly adopted, as follows: -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/Dev. Agmt - Hold Hrg RESOLUTION 2015-102 Resolution Approving Development Agreement with Hart Dentistry, Authorizing Annual Appropriation Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement WHEREAS, the City of Tiffin, Iowa (the "City"), pursuant 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 (the "Urban Renewal Area"); and 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 Iowa (the "Urban Renewal Tax Revenue Fund"), which fund and the portion of taxes referred 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 (the "Agreement") between the City and Hart Dentistry (the "Developer") has been prepared in connection with the development of new dental office facilities situated at 403 Deer View Avenue in the Urban Renewal Area (the "Hart Dentistry Project"); and WHEREAS, under the Agreement, the City would provide annual appropriation tax increment payments to the Developer in a total amount not exceeding $45,000; 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 September 22, 2015, and has otherwise complied with statutory requirements for the approval of the Agreement; and WHEREAS, Chapter 15A of the Code of Iowa ("Chapter 15A") declares that economic 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: (a) The Hart Dentistry Project will add diversity and generate new opportunities for the Tiffin and Iowa economies; -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/Dev. Agmt - Hold Hrg (b) The Hart Dentistry 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 financial 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 403 of the Code of Iowa, the City's obligations under the Agreement shall be payable solely from a subfund (the "Hart Dentistry Subfund") which is hereby 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 described as follows: Certain real property situated in the City of Tiffin, County of Johnson, State of Iowa bearing Johnson County Property Tax Identification Number 0628328001. Section 5. The City hereby pledges to the payment of the Agreement the Hart Dentistry 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 Hart Dentistry 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 Hart Dentistry 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. Section 7. All resolutions or parts thereof in conflict herewith are hereby repealed. -4- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/Dev. Agmt - Hold Hrg Passed and approved this 22nd day of September, 2015. Attest: City Clerk(/ Mayor -5- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/Dev. Agmt - Hold Hrg • • • On motion and vote the meeting adjourned. Attest: City Cler Mayor -6- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/Dev. Agmt - Hold Hrg 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 , 2015. City Cle -7- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989-12/1)ev. Agmt - Hold Hrg STATE OF IOWA SS: COUNTY OF JOHNSON I, the undersigned, County Auditor of Johnson County, in the State of Iowa, do hereby certify that on the day of , 2015, the City Clerk of the City of Tiffin filed in my office a certified copy of a resolution of the City shown to have been adopted by the City Council and approved by the Mayor thereof on September 22, 2015, entitled: "Resolution Approving Development Agreement with Hart Dentistry, Authorizing Annual Appropriation Tax Increment Payments and Pledging Certain Tax Increment Revenues to the Payment of the Agreement", and that I have duly placed the copy of the resolution on file in my records. WITNESS MY HAND this day of , 2015. County Auditor -8- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA OORSEY DORSEY & WHITNEY LLP September 18, 2015 VIA F.MATI, Doug Boldt City Administrator/City Hall Tiffin, IA Re: Hart Dentistry Development Agreement File No. 436989-12 Dear Doug: Attached are copies of proceedings covering the City Council's September 22, 2015 public hearing on the proposed Development Agreement with Hart Dentistry, followed by a resolution approving the Agreement and pledging certain incremental property tax revenues to the payment of the Agreement. A copy of the Resolution must be filed with the Johnson County Auditor. Please print extra copies of the Resolution for that purpose. We would appreciate receiving one fully -executed copy of these proceedings and of the executed Development Agreement as soon as they are available. Best regards, 06 1=91_007=16 Attachments cc: Ashley Jay Platz DORSEY & WHITNEY LLP • WWW.DORSEY.COM - T 515.283.1000 - F 515.283.1060 801 GRAND • SUITE 4100 - DES MOINES, IOWA 50309-2790 USA CANADA EUROPE ASIA -PACIFIC