SET DATE FOR HEARING ON EXPANDED URBAN RENEWAL AREA DESIGNATION AND URBAN RENEWAL PLAN AMENDMENT
Monticello, Iowa
March 17, 2014
The Council of the City of Monticello, Iowa, met on March 17, 2014, at 6:00 o’clock, p.m., at the Mary Lovell LeVan, Monticello Renaissance Center, Community Media Center, 220 East First Street, in the City, for the purpose of setting a date for a public hearing on the designation of an expanded urban renewal area. The Mayor Pro Tem Tom Yeoman presided and the roll being called, the following members of the Council were present and absent:
Present: Dave Goedken, Bill Meyer, Frank Yanda, Chris Lux and Tom Yeoman.
Absent: None.
The Mayor Pro Tem announced that an amendment to the Monticello Urban Renewal Plan had been prepared and that it was now necessary to set a date for a public hearing on the proposed amended area. Accordingly, Council Member Goedken moved the adoption of the following resolution entitled “Resolution Setting a Public Hearing on the proposed Urban Renewal Plan Amendment,” and the motion was seconded by Council Member Meyer. Following due consideration, the Mayor Pro Tem put the question on the motion and the roll being called, the following named Council Members voted:
Ayes: Goedken, Meyer, Yanda, Lux and Yeoman.
Nays: None.
Whereupon, the Mayor Pro Tem declared the resolution duly adopted as follows:
RESOLUTION NO. 14-32
Setting a Public Hearing on the proposed Urban Renewal Plan Amendment .
WHEREAS, this Council by resolution previously created the Monticello Urban Renewal Plan (the “Urban Renewal Plan”); and
WHEREAS, a proposal has been made which shows the an amendment to the Urban Renewal Plan has been prepared to specify a project that the City Council intends to utilize tax increment financing dollars to finance as set out in Exhibit A; and
WHEREAS, this Council is desirous of obtaining as much information as possible from the residents of the City before making this decision and it is now necessary that a date be set for a public hearing on the proposed amendment plan.;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Monticello, Iowa, as follows:
Section 1. This Council will meet at the Mary Lovell LeVan, Monticello Renaissance Center, Community Media Center, 220 East First Street, Monticello, Iowa, on the 21st day of April, 2014, at 6:00 o’clock p.m., at which time and place it will hold a public hearing on the proposed Urban Renewal Plan Amendment described in the preamble hereof.
Section 2. The City Clerk shall publish notice of said hearing, the same being in the form attached hereto, which publication shall be made in a legal newspaper of general circulation in Monticello, which publication shall be not less than four (4) nor more than twenty (20) days before the date set for hearing.
Section 3. Pursuant to Section 403.5 of the Code of Iowa, the City Clerk and the City Administrator are hereby designated as the City’s representatives in connection with the consultation process which is required under that section of the urban renewal law.
Section 4. The proposed urban renewal plan amendment is hereby submitted to the City’s Planning and Zoning Commission for review and recommendations, as required by Section 403.5, Code of Iowa.
Passed and approved March 17, 2014.
________________________
Tom Yeoman, Mayor Pro Tem
Attest:
_______________________________
Sally Hinrichsen, City Clerk
NOTICE OF PUBLIC HEARING ON PROPOSED URBAN RENEWAL PLAN AMENDMENT
Notice Is Hereby Given: That at 6:00 o’clock p.m., at the Monticello City Council Chambers, 202 E. 1st Street, Monticello, Iowa, on the 21st day of April, 2014, the City Council of the City of Monticello, Iowa, will hold a public hearing on the question of amending the urban renewal plan for the Monticello Urban Renewal Area to facilitate the undertaking of an economic development project, whereby the City would utilize tax increment financing to provide tax incentives by way of Grants and Tax Rebates to developers to promote the construction of new improvements to an approximate 13 acre parcel of ground located in the southern portion of the Monticello City limits, with the City also investing in the extension of sanitary sewer, and water service lines from the City water main under 190th Street to the property of concern. The initial project identified being a gas station/convenience store facility to be constructed on 6 acres of the above-referenced 13 acre parcel. A copy of the amendment is on file for public inspection in the office of the City Clerk.
At said hearing any interested person may file written objections or comments and may be heard orally with respect to the subject matters of the hearing.
Sally Hinrichsen
City Clerk
• • • • •
On motion and vote the meeting adjourned.
Tom Yeoman, Mayor Pro Tem
Attest:
Sally Hinrichsen, City Clerk
STATE OF IOWA )
CITY OF MONTICELLO )§
COUNTY OF JONES )
I, the undersigned, City Clerk of the aforementioned City, does hereby certify that pursuant to the Resolution of its Council fixing a date of public hearing on the question of the proposed Urban Renewal Plan Amendment for the City, the notice, of which the printed slip attached to the publisher’s affidavit hereto attached is a true and complete copy, was published on the date and in the newspaper specified in such affidavit, which newspaper has a general circulation in the City, and copies were sent to the county, school district and community college.
WITNESS my hand and the seal of the aforementioned City hereto affixed this ____ day of ______________________, 2014.
City Clerk
(Seal)
(Attach here publisher’s affidavit of publication of notice.)
(PLEASE NOTE: This certificate must not be dated until the publication has been made and you have reviewed it to be sure that the notice was published on the date indicated in the attached affidavit.)
STATE OF IOWA )
CITY OF MONTICELLO ) §
COUNTY OF JONES )
I, the undersigned, City Clerk of the aforementioned City, do hereby certify that as such I have in my possession or have access to the complete corporate records of the City and of its officers; and that I have carefully compared the transcript hereto attached with the aforesaid records and that the attached is a true, correct and complete copy of the corporate records relating to the action taken by the Council preliminary to and in connection with setting a date for public hearing on the question of the proposed Urban Renewal Plan Amendment for the City.
WITNESS my hand and the seal of the aforementioned City hereto affixed this ___ day of ______________________, 2014.
City Clerk
(Seal)
Exhibit A
CITY OF MONTICELLO
2014 Amendment Number 1
to the
MONTICELLO URBAN RENEWAL PLAN
Approved by Resolution No. 14-48
April 21, 2014
The Urban Renewal Plan (the “Plan”), for the Monticello Urban Renewal Area (the “Area”), is being amended for the purpose of identifying a new urban renewal project to be undertaken therein.
1) Identification of Projects.
By virtue of this amendment, the list of authorized urban renewal projects in the Plan is hereby amended to include the following project description:
Name of Project: Karde’s Inc., Beck Construction, Inc., and McDermott Limited partnership, LLP Economic Development Project
Name of Urban Renewal Area: Monticello Urban Renewal Area
Year of Establishment of Urban Renewal Area: 1992 as amended in 2001
Date of Council Approval of Project: March 17, 2014
Location and Description of Economic Development Project: The project is proposed to include the acquisition of approximately 13 acres of property by the developers, Karde’s Inc., Beck Construction, Inc., and McDermott Limited partnership, LLP (thereinafter referred to as the Developers) within the City limits of Monticello near Innovative Ag. Services on Monticello’s south side. The approximate 13 acres is being divided into three separate parcels, with 6 acres to be owned by Karde’s Inc., 2 acres by McDermott Limited Partnership with the balance of just under 5 acres to be owned by Beck Construction, Inc.
Karde’s Inc., is in the planning stages towards the construction of a facility best described as a gas station / truck stop /convenience store. Beck Construction, Inc., has plans, not yet fully determined, to construct a building/facility for commercial purposes on the land in the next two years, and McDermott Limited Partnership has not yet identified a commercial use for their property. The project also includes the extension of sanitary sewer by the City to serve all three lots and the installation of water service lines from the north side of 190th Street to the South side, to be installed if and when needed by a developer. A water service line has already been extended to what will be the Karde’s lot.
Description of Use of TIF: The City has approved a Developer’s Agreement providing specific economic incentives to the Developers in return for their acquisition and development of the subject property consistent with the provisions of said developer’s agreement. The agreement will not provide incentives to any developer who does not develop the property within specific time parameters set out within the agreement. Tax increment financing will be utilized by the City to meet its’ obligations under the Developer’s Agreement, including both TIF Grants and Tax Rebates. The City may also use TIF to pay for the cost of the sanitary and water infrastructure improvements set out in the agreement as being the responsibility of the City. The maximum economic development grant would not exceed $260,000 if all three lots met eligibility standards. The City investment in water and sewer infrastructure is estimated to come in at approximately $80,000, therefore, with engineering services, it is estimated that the total sanitary and water infrastructure should not exceed $100,000. Tax rebates are tied to the taxable valuation of finished improvements and are, therefore, hard to estimate at this time. However, the rebates are based upon the following ten-year schedule: 100%, 90%, 85%, 80%, 75%, 70%, 65%, 60%, 60% and 60%. Under this provision, the news taxes created by the development reduced by the debt service levies of all taxing jurisdictions, the school physical plant and equipment levy, and the other protected levies, if any, will be rebated to the developer consistent with the above schedule and percentage. The rebated sums will be paid from tax increment received by the City and deposited into the City TIF fund.
2) Required Financial Information. The following information is provided in accordance with the requirements of Section 403.17 of the Code of Iowa:
Constitutional debt limit of the City: $9,582,865
Outstanding general obligation debt of the City: $5,125,000
Proposed debt to be incurred in connection with this
Amendment* $450,000
*It is anticipated that some or all of the debt incurred hereunder will be subject to annual appropriation by the City Council with a substantial portion of the above debt not being immediately undertaken, the incentives related thereto being subject to developers meeting specific obligations.