HomeMy WebLinkAboutA053 - Indebtdness Certification Cover Sheet dated November 26, 2019 CITY TIF FORM 1-INDEBTEDNESS CERTIFICATION Cover Sheet
CODE OF IOWA SECTION 403.19 TAX INCREMENT FINANCING (TIF) INDEBTEDNESS
CERTIFICATION TO COUNTY AUDITOR
Due To County Auditor By December 1 Prior To The Fiscal Year TIF Increment Tax Is Requested
Use One Certification Per Urban Renewal Area
City: Ames County: Stogy _
Urban Renewal Area Name: Campustown Urban Renewal Area (Kin2land) CVj
Urban Renewal Area Number: 85023 (Use five-digit Area Number Assigned by the
I hereby certify to the County Auditor that for the Urban Renewal Area within the Cii
City has outstanding loans, advances, indebtedness, or bonds, none of which have
collective amount shown below, all of which qualify for repayment from the special
of Section 403.19 of the Code of Iowa.
Urban Renewal Area Indebtedness Not Previously Certified`: $ 395,595
'There must be attached a supporting itemized listing of the dates that individual loans, advances, indebtedness, or
bonds were initially approved by the governing body. (Complete and attach 'CITY TIF FORM 1.1'.)
The County Auditor shall provide the available TIF increment tax in subsequent fiscal years without further certification
until the above-stated amount of indebtedness is paid to the City. However, for any fiscal year a City may elect to
receive less than the available TIF increment tax by certifying the requested amount to the County Auditor on or
before the preceding December 1. (File'CITY TIF FORM 2' with the County Auditor by the preceding December 1
for each of those fiscal years where all of the TIF increment tax is not requested.)
A City reducing certified TIF indebtedness by any reason other than application of TIF increment tax received from
the County Treasurer shall certify such reduced amounts to the County Auditor no later than December 1 of the year
of occurrence. (File 'CITY TIF 'FORM T with the County Auditor when TIF indebtedness has been reduced by any
reason other than application of TIF increment tax received from the County Treasurer.)
Notes/Additional Information:
The TIF debt is in the form of a rebate agreement with Kingland Campus Properties as an economic development
incentive for an urban renewal project in the Campus town area. Incremental property taxes will be rebated to the
property owner for a period of 10 vears or until the accumulated total rebate amount reaches $2,064,530 which
ever comes first.
Dated this 26th day of November _ _ 2019
`I-VI 515-239-5114
`signature of Authorized Official Telephone