The URL can be used to link to this page

Home My WebLink AboutA041 - Council Action Form dated November 23, 2021 ITEM # 10 DATE: 11/23/21 COUNCIL ACTION FORM SUBJECT: TAX INCREMENT FINANCING (TIF) AND REPORTING RESOLUTIONS FOR ANNUAL URBAN RENEWAL REPORT AND CERTIFICATON AND ANNUAL APPROPRIATION OF KINGLAND AND BARILLA TIF REBATES BACKGROUND: The 2012 Iowa Urban Renewal and Tax Increment Financing (TIF) Reform bill included provisions for reporting, including the Annual Urban Renewal Report, which must be approved by the governingboard and provided to the Iowa Department of Management p p 9 to be made available to the public on an internet site. This report includes documents related to the urban renewal districts, such as the plan document and City Council action establishing the district, as well as financial information regarding TIF funds related to urban renewal districts. The due date for the report filing is December 1 of each year. The penalty for non-compliance is withholding certification of tax levies. The attached report includes financial information for the South Bell, ISU Research Park District 1, ISU Research Park District 2, Barilla, and Campustown (Kingland) TIF districts. The attached Annual Urban Renewal Report is for the fiscal year ending June 30, 2021. The new Downtown Reinvestment Act Urban Renewal Area was not approved until the current fiscal year and is not included in the report. In addition to the state reporting, the City is required to certify TIF debt with the County Auditor for the upcoming fiscal year. The ISU Research Park Districts 1 and 2, and the South Bell debt are General Obligation bonds approved by Council when issued, so no additional action is required. The Kingland and Barilla TIF districts involve a rebate of incremental property taxes subject to annual appropriation by the City Council. A resolution is required for the annual appropriation for the collection and rebate of incremental taxes per the agreements with Kingland and Barilla. Incremental taxes for the Kingland TIF are estimated at $430,000 for the upcoming fiscal year. Incremental taxes for the Barilla TIF are estimated at $420,000 for the upcoming fiscal year. SUMMARY AND CURRENT STATUS OF TIF DEBT South Bell Avenue TIF The South Bell TIF debt was issued for infrastructure improvements to expand development along South Bell. The debt with principal of$1,152,000 was issued in 2009. With the development starting at the outset of a recession, the repayment of the TIF had I a slow start and incremental taxes were not able to cover debt service until recently, resulting in a negative balance for the TIF fund. The TIF district is now generating positive cashflow and the final bond payment was made in FY 2020/21. Staff expects a partial release of TIF valuation to general taxation in FY 2022/23 with the TIF debt being fully paid off that year and the full value released to general taxation in FY 2023/24. Campustown TIF (Kingland) The Campustown TIF debt is an annually appropriated rebate of property taxes to Kingland as an economic development incentive for improvements in the Campustown area. The maximum amount of the rebate is $2,064,530 or a term of 10 years, whichever comes first. The rebates began in FY 2016/17. A full rebate of property taxes is expected through FY 2022/23. In FY 2023/24 the maximum rebate amount will be met and part of the value will be released to general taxation. The full value would therefore be released in FY 2024/25. Since this TIF debt is subject to annual appropriation, the Council is required to approve the debt (rebate) each year until terms of the agreement are met. Ames ISU Research Park District 1 & 2 The Ames ISU Research Park (ISURP) TIF debt was issued for infrastructure improvements to expand development in the ISU Research Park. The debt with principal of$2,725,000 was issued in 2015. A second TIF district was established within the same Urban Renewal Area (URA) and bonds with a principal amount of $290,000 were issued in 2019. The TIF district was generating positive cashflow by FY 2017/18 and the TIF balance accumulated is expected to be able to fully pay off the debt for District 1 and 2 by the end of FY 2022/23. This will mean that the full value of property within the URA will be released to general taxation in FY 2023/24. The TIF bonds will not be fully retired until FY 2030/31; the accumulated TIF balance will be spent down to make the bond payments. Barilla TIF The Barilla TIF debt is an annually appropriated rebate of property taxes to Barilla as an economic development incentive for expansion to its facility. The maximum amount of the rebate is $3,000,000 or a term of 10 years, whichever comes first. The rebates began in FY 2020/21. A full rebate of property taxes is expected through FY 2026/27. In FY 2027/28 the maximum rebate amount will be met, and part of the value will be released to general taxation. The full value would therefore be released in FY 2028/29. Since this TIF debt is subject to annual appropriation, the Council is required to approve the debt (rebate) each year until terms of the agreement are met. 2 ALTERNATIVES: 1. Approve the City's annual 2021 Urban Renewal Report and resolution appropriating the payment of a rebate of incremental taxes for the Campustown and Barilla TIF districts. 2. Do not approve the report and resolution and refer this item back to staff. CITY MANAGER'S RECOMMENDED ACTION: In order for the City to comply with mandated reporting requirements and fulfill requirements under the development agreements with Kingland and Barilla, it is necessary to submit this report to the Iowa Department of Management by December 1 of this year and approve the appropriation of the tax increment rebates. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as described above. 3 Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Levy Authority Summary Local Government Name: AMES Local Government Number: 85GS 11 .R. #of Tif Active Urban Renewal Areas U# Taxing Districts AMES COMMUNITY DEVELOPMENT PARK URBAN RENEWAL 85012 0 AMES SOUTH BELL AVENUE URBAN RENEWAL 85021 2 AMES CAMPUSTOWN URBAN RENEWAL 85023 1 AMES ISU RESEARCH PARK URBAN RENEWAL 85024 4 AMES BARILLA URBAN RENEWAL 85026 1 TIF Debt Outstanding: 2,816,821 .....................................................................................................................................................................................s"h. ................. TIF Sp. Rev.Fund Cash Balance Amount of 07-01-2020 Cash Balance as of 07-01-2020: -179,263 0 Restricted for LNH TIF Revenue: 0 TIF Sp. Revenue Fund Interest: 8,445 Property Tax Replacement Claims 1,924,393 Asset Sales&Loan Repayments: 0 Total Revenue: 1,932,838 Rebate Expenditures: 702,771 Non-Rebate Expenditures: 442,468 Returned to County Treasurer: 0 Total Expenditures: 1,145,239 TIF Sp.Rev.Fund Cash Balance Amount of 06-30-2021 Cash Balance as.of06-30-2.0.21:......... ......... .............. ..............608,3.36................... ..........0................R...es.tricted.for LNII .................................. ......... . . . ........ .... .... ..... ..... ........ Year-End Outstanding TIF Obligations,Net of TIF Special Revenue Fund Balance: 1,063,246 4 Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Urban Renewal Area Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES COMMUNITY DEVELOPMENT PARK URBAN RENEWAL UR Area Number: 85012 UR Area Creation Date: UR Area Purpose: Base Increment Increment Tax Districts within this Urban Renewal Area No. No. Value Used Urban Renewal Area Value by Class - 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 0 0 0 0 0 0 0 0 0 Taxable 0 0 0 0 0 0 0 0 0 Homestead Credits 0 TIF Sp.Rev.Fund Cash Balance Amount of 07-01-2020 Cash Balance as of 07-01-2020: 0 0 Restricted for LNU TIF Revenue: 0 TIF Sp.Revenue Fund Interest: 0 Property Tax Replacement Claims 0 Asset Sales&Loan Repayments: 0 Total Revenue: 0 Rebate Expenditures: 0 Non-Rebate Expenditures: 0 Returned to County Treasurer: 0 Total Expenditures: 0 TIF Sp.Rev.Fund Cash Balance Amount of 06-30-2021 Cash Balance as of 06-30-2021: 0 0 Restricted for LNU ♦ Annual Urban Renewal Report,Fiscal Year 2020 - 2021 t Urban Renewal Area Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES SOUTH BELL AVENUE URBAN RENEWAL UR Area Number: 85021 UR Area Creation Date: 01/2009 To expand the available inventory of fully serviced industrial land UR Area Purpose: within Ames. Base Increment Increment Tag Districts within this Urban Renewal Area No. No. Value Used AMES CITY/AMES SCH/SOUTH BELL AVENUE URBAN RENEWL TIF INCREM 850586 850186 8,569,170 AMES CITY AG/AMES SCH/SOUTH BELL AVENUE URBAN RENEWAL TIF INCREM 850587 850187 5,215 Urban Renewal Area Value by Class - 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 6,400 0 9,521,300 0 0 0 9,527,700 0 9,527,700 Taxable 5,215 0 8,569,170 0 0 0 8,574,385 0 8,574,385 Homestead Credits 0 TIF Sp.Rev.Fund Cash Balance Amount of 07-01-2020 Cash Balance as of 07-01-2020: -385,729 0 Restricted for LMI TIF Revenue: 0 TIF Sp.Revenue Fund Interest: 0 Property Tax Replacement Claims 241,230 Asset Sales&Loan Repayments: 0 Total Revenue: 241,230 Rebate Expenditures: 0 Non-Rebate Expenditures: 110,243 Returned to County Treasurer: 0 Total Expenditures: 110,243 TIF Sp.Rev.'Fund Cash Balance Amount of 06-30-2021 Cash Balance as of 06- 0- 21: -254,742 0 Restricted for LMI "*.Ann*Urban Renewal Report,Fiscal Year 2020 Projects For AMES SOUTH BELL AVENUE URBAN RENEWAL South Bell Infrastructure Description: Public Infrastructure for South Bell Area Classification: Roads,Bridges&Utilities Physically Complete: Yes Payments Complete: No ♦Annual Urban Renewal Report,Fiscal Year 2020 - 2021 Debts/Obligations For AMES SOUTH BELL AVENUE URBAN RENEWAL 2009B GO Bonds Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 0 Interest: 0 Total: 0 Annual Appropriation?: No Date Incurred: 10/29/2009 FY of Last Payment: 2021 ♦ Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Non-Rebates For AMES SOUTH BELL AVENUE URBAN RENEWAL TIF Expenditure Amount: 110,243 Tied To Debt: 2009B GO Bonds Tied To Project: South Bell Infrastructure ♦Annual Urban Renewal Report,Fiscal Year 2020 - 2021 Outstanding TIF backed GO bonds will be retired in FY 2021, however the TIF revenues were not able to cover the debt service over the term of the bonds (resulting a negative balance. TIF revenues will be claimed through FY 23 to fund the debt service. 256 Characters Left Sum of Private Investment Made Within This Urban Renewal Area during FY 2021 ♦ Annual Urban Renewal Report, Fiscal Year 2020 - 2021 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES SOUTH BELL AVENUE URBAN RENEWAL(85021) TIF Taxing District Name: AMES CITY/AMES SCH/SOUTH BELL AVENUE URBAN RENEWL TIF INCREM TIF Taxing District Inc.Number: 850186 TIF Taxing District Base Year: 2008 FY TIF Revenue First Received: 2010 UR Designation Subject to a Statutory end date? Yes Slum No Blighted No Fiscal year this TIF Taxing District Economic Development 01/2009 statutorily ends: 2030 TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 0 0 9,521,300 0 0 0 9,521,300 0 9,521,300 Taxable 0 0 8,569,170 0 0 0 8,569,170 0 8,569,170 Homestead Credits 0 Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 14,312 8,569,170 8,569,170 0 0 FY 2021 TIF Revenue Received: 0 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES SOUTH BELL AVENUE URBAN RENEWAL(85021) TIF Taxing District Name: AMES CITY AG/AMES SCH/SOUTH BELL AVENUE URBAN RENEWAL TIF INCREM TIF Taxing District Inc.Number: 850187 TIF Taxing District Base Year: 2008 UR Designation FY TIF Revenue First Received: 2011 Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development 01/2009 statutorily ends: 2031 TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 6,400 0 0 0 0 0 6,400 0 6,400 Taxable 5,215 0 0 0 0 0 5,215 0 5,215 Homestead Credits 0 I Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 218 5,215 5,215 0 0 FY 2021 TIF Revenue Received: 0 ♦ Annual Urban Renewal Report,Fiscal Year 2020 -2021 Urban Renewal Area Data Collection Local Government Name: AMES (85G811) Urban Renewal Area: AMES CAMPUSTOWN URBAN RENEWAL UR Area Number: 85023 UR Area Creation Date: 11/2014 To promote economic development in the Campustown area through the expansion of office and retail UR Area Purpose: space. Base Increment Increment Tax Districts within this Urban Renewal Area No. No. Value Used AMES CITY/AMES SCH/CAMPUSTOWN URBAN RENEWALTIF INCREM 850630 850230 13,607,800 Urban Renewal Area Value by Class - 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 0 0 17,075,000 0 0 0 17,075,000 0 1`17,075,000 Taxable 0 0 15,367,500 0 0 0 15,367,500 0 15,367,500 Homestead Credits ` TIF Sp.Rev.Fund Cash Balance Amount of 07-01-2020 Cash Balance as of 07-01-2020: 0 0 Restricted for LMI TIF Revenue: 0 TIF Sp. Revenue Fund Interest: 0 Property Tax Replacement Claims 321,726 Asset Sales&Loan Repayments: 0 Total Revenue: 321,726 Rebate Expenditures: 320,925 Non-Rebate Expenditures: 0 Returned to County Treasurer: 0 Total Expenditures: 320,925 TIF Sp.Rev.Fund Cash Balance Amount of 06-30-2021 Cash Balance as of 06-30-2021: 801 0 Restricted for LAG-_ Annual Urban Renewal Report,Fiscal Year 2020 2021 t Pr ojec s For A MES CAMPUSTOWN URBAN RENEWAL Campustown Kingland Building Description: Office and Retail Development Classification: Commercial-office properties Physically Complete: Yes Payments Complete: Yes ♦ Annual Urban Renewal Report,Fiscal.Year 2020=2021 Debts/Obligations For AMES CAMPUSTOWN URBAN RENEWAL Campustown Urban Renewal Debt/Obligation Type: Rebates Principal: 320,925 Interest: 0 Total: 320,925 Annual Appropriation?: Yes Date Incurred: 11/10/2015 FY of Last Payment: 2021 1 Annual Urban Renewal Report,Fiscal Year 2020 -2021 Rebates For AMES CAMPUSTOWN URBAN RENEWAL Kingland Systems TIF Expenditure Amount: 320,925 Rebate Paid To: Kingland Systems Tied To Debt: Campustown Urban Renewal Tied To Project: Campustown Kingland Building Projected Final FY of Rebate: 2021 , ♦ Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Urban renewal area for Campustown Redevelopment. Rebate of TIF to Kingland Campus Properties per development agreement provides a total of $2,064,530 in tax rebate or a period of 10 years, whichever comes first. Subject to annual appropriation. 256 Characters Left Sum of Private Investment Made Within This Urban Renewal Area during FY 2021 ♦ Annual Urban Renewal Report,Fiscal Year 2020 - 2021 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES CAMPUSTOWN URBAN RENEWAL(85023) TIF Taxing District Name: AMES CITY/AMES SCH/CAMPUSTOWN URBAN RENEWALTIF INCREM TIF Taxing District Inc.Number: 850230 TIF Taxing District Base Year: 2014 URDesipatim FY TIF Revenue First Received: 2017 slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development 11/2013 statutorily ends: 2037 TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electdc Utility Total Assessed 0 0 17,075,000 0 0 0 17,075,000 0 17,075,000 Taxable 0 0 15,367,500 0 0 0 15,367,500 0 15,367,500 Homestead Credits 0 Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 3,467,200 13,607,800 13,607,800 0 0 FY 2021 TIF Revenue Received: 0 4 Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Urban Renewal Area Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES ISU RESEARCH PARK URBAN RENEWAL UR Area Number: 85024 UR Area Creation Date: 11/2013 To promote economic development for Iowa State University Research Park by extending public UR Area Purpose: infrastructure. Base Increment Increment Tax Districts within this Urban Renewal Area No, No. Value Used AMES CITY/AMES SCH/ISU RESEARCH PARK URBAN RENEWAL TIF INCREM 850628 850228 34,783,441 AMES CITY AG/AMES SCH/ISU RESEARCH PARK URBAN RENEWAL TIF INCREM 850629 850229 0 AMES CITY/AMES SCH/ISU RESEARCH PARK DISTRICT 2 UR 850658 850659 2,403,526 AMES CITY AG/AMES SCH/ISU RESEARCH PARK DISTRICT 2 UR 850660 850661 48,690 Urban Renewal Area Value by Class - 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/ElectricUtility Total Assessed 188,200 386,400 38,507,400 2,575,000 0 0 41,657,000 0- 41,657,000 Taxable 153,352 212,807 34,656,660 2,317,500 0 0 37,340,319 0 ;}�37,340,319 Homestead Credits 0 TIF Sp.Rev.Fund Cash Balance Amount of 07-01-2020 Cash Balance as of 07-01-2020: 209,000 0 Restricted for LMI TIF Revenue: 0 TIF Sp. Revenue Fund Interest: 8,445 Property Tax Replacement Claims 978,240 Asset Sales &Loan Repayments: 0 Total Revenue: 986,685 Rebate Expenditures: 0 Non-Rebate Expenditures: 332,225 Returned to County Treasurer: 0 Total Expenditures: 332,225 TIF Sp.Rev.Fund Cash Balance Amount of 06-30-2021 Cash Balance as of 06-30-2021: 863,460 0 Restricted for LMI 4 Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Projects For AMES ISU RESEARCH PARK URBAN RENEWAL ISURP Infrastructure Extension Description: Extension of public infrastructure to serve ISURP Classification: Roads,Bridges&Utilities Physically Complete: Yes Payments Complete: Yes +�Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Debts/Obligations For AMES ISU RESEARCH PARK URBAN RENEWAL General Obligation Series 2015A Debt/Obligation Type: Gen.Obligation Bonds/Notes Principal: 1,865,000 Interest: 249,050 Total: 2,114,050 Annual Appropriation?: No Date Incurred: 11/13/2015 FY of Last Payment: 2027 46 Annual Urban Renewal Report, Fiscal Year 2020 -2021 Non-Rebates For AMES ISU RESEARCH PARK URBAN RENEWAL TIF Expenditure Amount: 332,225 Tied To Debt: General Obligation Series 2015A Tied To Project: ISURP Infrastructure Extension f Annual Urban Renewal Report, Fiscal Year 2020- 2021 TIF Ord. amended 11.12.2019 256 Characters Left Sum of Private Investment Made Within This Urban Renewal Area during FY 2021 46 Annual Urban Renewal Report, Fiscal Year 2020 - 2021 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES ISU RESEARCH PARK URBAN RENEWAL(85024) TIF Taxing District Name: AMES CITY/AMES SCH/ISU RESEARCH PARK URBAN RENEWAL TIF INCREM TIF Taxing District Inc.Number: 850228 TIF Taxing District Base Year: 2014 FY TIF Revenue First Received: 2017 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development I1No statutorily ends: 2037 - _ _ TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 0 230,200 38,507,400 0 0 0 38,737,600 0 8,737,606 Taxable 0 126,781 34,656,660 0 0 0 34,783,441 0 4 78 441 Homestead Credits Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 149,100 34,783,441 34,783,441 0 0 FY 2021 TIF Revenue Received: 0 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES ISU RESEARCH PARK URBAN RENEWAL(85024) TIF Taxing District Name: AMES CITY AG/AMES SCHASU RESEARCH PARK URBAN RENEWAL TIF INCREM TIF Taxing District Inc.Number: 850229 TIF Taxing District Base Year: 2014 UR Designation FY TIF Revenue First Received: slum No Blighted No Subject to a Statutory end date? No Economic Development No TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 57,300 0 0 0 0 0 57,300 0 mod Taxable 46,690 0 0 0 0 0 46,690 0 mugo Homestead Credits NELO Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 394,222 0 0 0 0 FY 2021 TIF Revenue Received: 0 +!� Annual Urban Renewal Report, Fiscal Year 2020 - 2021 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES ISU RESEARCH PARK URBAN RENEWAL(85024) TIF Taxing District Name: AMES CITY/AMES SCH/ISU RESEARCH PARK DISTRICT 2 UR TIF Taxing District Inc.Number: 850659 TIF Taxing District Base Year: 2018 UR Designation FY TIF Revenue First Received: Slum No Subject to a Statutory end date? No Blighted No � n' Economic Development No TO Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 0 156,200 0 2,575,000 0 0 2,731,200 0 2,731,200 Taxable 0 86,026 0 2,317,500 0 0 2,403,526 0 2,403,526 Homestead Credits 0 Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 165,761 2,403,526 2,403,526 0 0 FY 2021 TIF Revenue Received: 0 TIF Taxing District Data Collection Local Govemment Name: AMES(85G811) Urban Renewal Area: AMES ISU RESEARCH PARK URBAN RENEWAL(85024) TIF Taxing District Name: AMES CITY AG/AMES SCH/ISU RESEARCH PARK DISTRICT 2 UR TIF Taxing District Inc.Number: 850661 TIF Taxing District Base Year: 2018 UR Designation FY TIF Revenue First Received: Slum No Blighted No Subject to a Statutory end date? No Economic Development No TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 130,900 0 0 0 0 0 130,900 0 130,900 Taxable 106,662 0 0 0 0 0 106,662 0 106,662 Homestead Credits 0 Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 82,210 48,690 48,690 0 0 FY 2021 TIF Revenue Received: 0 ♦Annual Urban Renewal R ort.Fiscal Year 2020 -2021 Urban Renewal Area Data Collection Local Government Name: AMES (85G811) Urban Renewal Area: AMES BARILLA URBAN RENEWAL UR Area Number: 85026 UR Area Creation Date: 07/2017 This urban renewal area was created to facilitate the expansion of the Barilla manufacturing facility at 3303 and 3311 East UR Area Purpose: Lincoln Way. Base Increment Increment Tax Districts within this Urban Renewal Area Value No. No. Used AMES CITY/AMMES SCH/BARILLA URBAN RENEWAL INCREM 850638 850238 16,493,200 Urban Renewal Area Value by Class - 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electriclitility Total Assessed 0 0 957,400 54,348,800 0 0 55,306,200 0 55,306,200 Taxable 0 0 861,660 48,913,920 0 0 49,775,580 0 49,775,580, Homestead Credits 0 TIF Sp.Rev.Fund Cash Balance Amount of 07-01-2020 Cash Balance as of 07-01-2020: -2,534 0 Restricted for LMI TIF Revenue: 0 TIF Sp.Revenue Fund Interest: 0 Property Tax Replacement Claims 383,197 Asset Sales&Loan Repayments: 0 Total Revenue: 383,197 Rebate Expenditures: 381,846 Non-Rebate Expenditures: 0 Returned to County Treasurer: 0 Total Expenditures: 381,846 TIF Sp.Rev.Fund Cash Balance Amount of 06-30-2021 Cash Balance as of 06-30-2021: -1,183 0 Restricted for LMI Annual Urban Renewal Reports Fiscal Year 2020 - 2021 Projects For AMES BARILLA URBAN RENEWAL Barilla Expansion Expansion of pasta production and transportation facilities Description: at Barilla America Inc. Classification: Industrial/manufacturing property Physically Complete: Yes Payments Complete: Yes Annual Urban Renewal R,. ort Fiscale Yar02 20 �._. _ .. _ _. eP_�..� _w. ._.,_. . a a 2021 Debts/Obligations For AMES BARILLA U"AN RENEWAL Barilla TIF Rebate Debt/Obligation Type: Rebates Principal: 381,846 Interest: 0 Total: 381,846 Annual Appropriation?: Yes Date Incurred: 11/13/2018 FY of Last Payment: 2021 i ♦ Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Rebates For AMES BARILLA URBAN RENEWAL Ames Barilla TIF Expenditure Amount: 381,846 Rebate Paid To: Ames Barilla Tied To Debt: Barilla TIF Rebate Tied To Project: Barilla Expansion Projected Final FY of Rebate: 2021 ♦Annual Urban Renewal Report, Fiscal Year 2020 - 2021 Jobs For AMES BARILLA URBAN RENEWAL Project: Barilla Expansion Company Name: Barilla America Inc Date Agreement Began: 11/13/2018 Date Agreement Ends: 11/13/2023 Number of Jobs Created or Retained: 41 Total Annual Wages of Required Jobs: 2,039,897 Total Estimated Private Capital Investment: 64,000,000 Total Estimated Cost of Public Infrastructure: 0 ♦Annual Urban Renewal Report,Fiscal Year 2020 -2021 iEntered development agreement in November 2018. Beginning in FY 2019/20 incremental taxes will be rebated to Barilla for a period of 10 years or a total of $3,000,000. 256 Characters Left Sum of Private Investment Made Within This Urban Renewal Area during FY 2021 164000000 ♦ Annual Urban Renewal Report, Fiscal Year 2020 - 2021 TIF Taxing District Data Collection Local Government Name: AMES(85G811) Urban Renewal Area: AMES BARILLA URBAN RENEWAL(85026) TIF Taxing District Name: AMES CITY/AMES SCH/BARILLA URBAN RENEWAL INCREM TIF Taxing District Inc.Number: 850238 TIF Taxing District Base Year: 2017 UR Designation FY TIF Revenue First Received: Slum No Subject to a Statutory end date? No Blighted NoEconomic Development No TIF Taxing District Value by Class- 1/1/2019 for FY 2021 Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total Assessed 0 0 957,400 54,348,800 0 0 55,306,200 0 °55,306,200 Taxable 0 0 861,660 48,913,920 0 0 49,775,580 0 49,775,580 Homestead Credits 0 Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2021 38,813,028 16,493,172 16,493,200 -28 -1 FY 2021 TIF Revenue Received: 0