HomeMy WebLinkAboutA034 - Letter to Story County Auditor dated December 11, 2013 (certified copy of resolution) 515 Clark Avenue, P. 0. Box 811
Curing Peoi�I
Qua ,P�g u„ Ames,IA 50010
EmepHnnal serv,ee Phone: 515-239-5105
Fax: 515-239-5142
December 11, 2013
Ms. Lucy Martin
Story County Auditor
900 Sixth Street
Nevada, Iowa 50201
RE: Ames, Iowa
Kingland Systems
Dear Lucy:
Enclosed please find a certified copy of Resolution 13-558, which was adopted by the Ames City
Council on December 10, 2013, authorizing economic development payments and pledging certain
tax increment revenues.
Please sign the Certificate verifying the filing of same and return in the enclosed self-addressed,
stamped envelope.
If you have any questions, please call me. Thank you for your assistance!
Sincerely,
'v
Diane Voss
City Clerk
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December 11, 2013
STATE OF IOWA
COUNTY OF STORY
CITY OF AMES
I, Diane R. Voss, being the duly appointed City Clerk of the City of Ames, Iowa, do hereby certify
that the above and foregoing Resolution No. 13-558 is a true and accurate copy of the said
Resolution, and that the said Resolution was passed and adopted by the City Council of the City of
Ames, Iowa, at a duly called meeting thereof on the 10 day of December, 2013.
Diane R. Voss, City Clerk
(SEAL)
Anies41937G-31%Dev.Agmt Kingland-Hold Hrg-
RESOLUTION NO. 13-558
Approving Development Agreement with Kingland Systems Corporation
Authorizing Economic Development Payments and Pledging Certain Tax
Increment Revenues to the Payment of the Agreement
WHEREAS, the City of Ames, 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 Campustown Urban Renewal Area (the
"Urban Renewal Area"); and
WHEREAS, this 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, an agreement between the City and Kingland Systems Corporation (the
"Developer") has been prepared (the "Agreement"), pursuant to which the Developer would
construct a commercial facility for retail and office uses in the Urban Renewal Area (the
"Kingland Project") and the City would provide economic development payments in a total
amount not exceeding $2,064,530; 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, 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 Ames, Iowa, as
follows:
Section 1. Pursuant to the factors listed in Chapter 15A, the Council hereby finds
that:
(a) The Kingland Project will add diversity and generate new opportunities
for the Ames and Iowa economies;
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DORSEY&WHITNEY LLP,ATTORNEYS,DES MOINES,IOWA
Ames419370-31:Dev.Agmt Kingland-Hold Hrg-
(b) The Kingland Project will generate public gains and benefits, particularly
in the creation of new jobs and opportunities for commercial activity, which are
warranted in comparison to the amount of the proposed property tax incentives.
Section 2. The Council further finds that a public purpose will reasonably be
accomplished by entering into the Agreement and providing the economic development
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 the city attorney and 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. As provided and required by Chapter 403 of the Code of Iowa, the City's
obligations under the Agreement shall be payable solely from the Urban Renewal Tax Revenue
Fund.
Section 5. The City hereby pledges to the payment of the Agreement the Urban
Renewal Tax Revenue Fund and the taxes referred to in Subsection 2 of Section 403.19 of the
Code of Iowa to be paid into such Fund.
Section 6. After its adoption, a copy of this resolution shall be filed in the office of
the County Auditor of Story County to evidence the continuing pledging of the Urban Renewal
Tax Revenue Fund, 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.
Passed and approved this 10tl' day of December, 2013.
Mayor
Attest:
City Clerk
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Ames419370-3 i`Dev.Agmt Kingland-Hold Hrg-
STATE OF IOWA
SS:
COUNTY OF STORY
1, the undersigned, County Auditor of Story County, in the State of Iowa, do hereby
certify that on the day of December, 2013, the City Clerk of the City of Ames filed in my
office a certified copy of a resolution of the City shown to have been adopted by the Council and
approved by the Mayor thereof on December 10, 2013, entitled: "Resolution Approving
Development Agreement with Kingland Systems Corporation, Authorizing Economic
Development 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 December, 2013.
County Auditor
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