HomeMy WebLinkAbout~Master - Approving the 2020 Urban Renewal Report RESOLUTION NO. 20-594
RESOLUTION APPROVING THE 2020 URBAN RENEWAL REPORT
FOR THE CITY OF AMES,IOWA
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the attached City's annual 2020 Urban Renewal Report is hereby approved.
ADOPTED THIS 24t' day of November, 2020.
Diane R. Voss, City Clerk John A. Haila, Mayor
Introduced by: Gartin
Seconded by: Betcher
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Martin
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 24t'day of November, 2020.
ITEM # 11
DATE: 11/24/20
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 governing board and provided to the Iowa Department of Management
to be made available to the public on an internet site.
This report includes uploading documents related to the urban renewal districts, such as
the plan document and City Council action establishing the district, as well as financial
information on 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 , Barilla and Campustown (Kingland) TIF
districts. The attached Annual Urban Renewal Report is for the fiscal year ending June
30, 2020. The newly adopted ISU Research Park District 2 was not active at the start of
the fiscal year so it was 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 both 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 $360,000 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 staring as we entered a recession, the repayment of the
TIF had 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 will be made in FY 20/21. We
expect a partial release of TIF valuation to general taxation in FY 22/23 with the TIF
debt being fully paid off that year and the full value released to general taxation in FY
23/24.
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 16/17, we expect a full rebate of
property taxes through FY 22/23. In FY 23/24 the maximum rebate amount will be met
and part of the value will be released to general taxation with the full value being
released in FY 24/25. This TIF fund carries a zero balance since taxes received are
rebated. 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
The Ames ISU Research Park 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. The TIF district was generating positive cashflow by FY 17/18 and
we expect a partial release of TIF valuation to general taxation in FY 22/23 with the TIF
balance accumulated being able fully pay off the debt. The full value will be released to
general taxation in FY 23/24. The TIF bonds will not be retired until FY 26/27, we will
spend down the accumulated TIF balance 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 their facility. The maximum amount
of the rebate is $3,00,000 or a term of 10 years whichever comes first. The rebates
began in FY 20/21 , we expect a full rebate of property taxes through FY 26/27. In FY
27/28 the maximum rebate amount will be met and part of the value will be released to
general taxation with the full value being released in FY 28/29. This TIF fund will carry
a zero balance since taxes received are rebated, the current small negative balance
reflects costs the City incurred to establish the TIF and will be reimbursed from TIF
proceeds. 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.
ALTERNATIVES:
1. Approve the City's annual 2020 Urban Renewal Report and resolutions
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 back to staff.
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, thereby approving the City's annual 2020 Urban Renewal Report and
resolution appropriating the payment of rebates of incremental taxes for the
Campustown and Barilla TIF districts.
Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Levy Authority Summary
Local Government Name: AMES
Local Government Number: 85G811
.R. #of Tif
U
Active Urban Renewal Areas # Taxing
Districts
AMES COMMUNITY DEVELOPMENT PARK URBAN RENEWAL 85012 1
AMES SOUTH BELL AVENUE URBAN RENEWAL 85021 2
AMES CAMPUSTOWN URBAN RENEWAL 85023 1
AMES ISU RESEARCH PARK URBAN RENEWAL 85024 2
AMES BARILLA URBAN RENEWAL 85026 1
TIF Debt Outstanding: 3,074,959
............................................................................................................................................................................................................
TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance
as of 07-01-2019: -693,097 0 Restricted for LMI
TIF Revenue: 0
TIF Sp. Revenue Fund Interest: 489
Property Tax Replacement Claims 1,231,397
Asset Sales & Loan Repayments: 0
Total Revenue: 1,231,886
Rebate Expenditures: 296,303
Non-Rebate Expenditures: 421,749
Returned to County Treasurer: 0
Total Expenditures: 718,052
rp. Rev. FundCash Balance Amount of 06-30-2020 Cash Balance
of 06,0-2020: -179,263 0 Restricted for LMI
Year-End Outstanding TIF
Obligations, Net of TIF Special
Revenue Fund Balance: 2,536,170
Created: Tue Nov 10 13:18:20 CST 2020
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- 4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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: 11/1997
Enhance the availability of sites to
accommodate the construction of
new industrial and commercial
buildings and encourage and
support development that will
UR Area Purpose: expand the tax base.
Base Increment Increment
Tax Districts within this Urban Renewal Area No. No. Value
Used
AMES CITY/AMES SCH/AMES COMMUNITY DEVELOPMENT PARK URBAN RENEWAL TIF 850526 850126 0
INCREM
Urban Renewal Area Value by Class - 1/1/2018 for FY 2020
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 07-01-2019 Cash Balance
as of 07-01-2019: 0 0 Restricted for LMI
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 06-30-2020 Cash Balance
as of 06-30-2020: 0 0 Restricted for LMI
Created: Tue Nov 10 13:18:20 CST 2020
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4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020 -B
All debt has been retired for this Urban Renewal District and property has been released to general
taxation.
256 Characters Left
Sum of Private Investment Made Within This Urban Renewal Area
during FY 2020
Created: Tue Nov 10 13:18:20 CST 2020
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4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
TIF Taxing District Data Collection
Local Government Name: AMES (85G811)
Urban Renewal Area: AMES COMMUNITY DEVELOPMENT PARK URBAN RENEWAL (85012)
TIF Taxing District Name: AMES CITY/AMES SCIVAMES COMMUNITY DEVELOPMENT PARK URBAN
RENEWAL TIF INCREM
TIF Taxing District Inc. Number: 850126
TIF Taxing District Base Year: 1997
FY TIF Revenue First Received: 2000 UR Designation
Slum No
Subject to a Statutory end date? Yes Blighted No
Fiscal year this TIF Taxing District Economic Development 11/1997
statutorily ends: 2020
TIF Taxing District Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 0 0 0 0 0 0
Taxable 0 0 0 0 0 0 0 0
Homestead Credits
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 43,167 0 0 0 0
FY 2020 TIF Revenue Received: 0
Created: Tue Nov 10 13:18:20 CST 2020
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Annual Urban Renewal Report, Fiscal Year 2019
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
Tax Districts within this Urban Renewal Area No. No. Value
Used
AMES CITY/AMES SCH/SOUTH BELL AVENUE URBAN RENEWL TIF INCREM 850586 850186 7,886,340
AMES CITY AG/AMES SCH/SOUTH BELL AVENUE URBAN RENEWAL TIF INCREM 850587 850187 0
Urban Renewal Area Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 8,762,600 0 0 0 8,762,600 0 L 8,762,600
Taxable 0 0 7,886,340 0 0 0 7,886,340 0 7,886,340
Homestead Credits 0
TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance
as of 07-01-2019: -475,788 0 Restricted for LMI
TIF Revenue: 0
TIF Sp. Revenue Fund Interest: 0
Property Tax Replacement Claims 200,896
Asset Sales & Loan Repayments: 0
Total Revenue: 200,896
Rebate Expenditures: 0
Non-Rebate Expenditures: 110,837
Returned to County Treasurer: 0
Total Expenditures: 110,837
TIF Sp. Rev. Fund Cash Balance Amount of 06-30-2020 Cash Balance
as of 06-30-2020: -385,729 0 Restricted for LMI
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 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
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019
Debts/Obligations For AMES SOUTH BELL AVENUE URBAN RENEWAL
2009B GO Bonds
Debt/Obligation Type: Gen. Obligation Bonds/Notes
Principal: 337,236
Interest: 23,670
Total: 360,906
Annual Appropriation?: No
Date Incurred: 10/29/2009
FY of Last Payment: 2023
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 20
Non-Rebates For AMES SOUTH BELL AVENUE URBAN RENEWAL
TIF Expenditure Amount: 110,837
Tied To Debt: 2009B GO Bonds
Tied To Project: South Bell Infrastructure
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019
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 2020
Created: Tue Nov 10 13:18:20 CST 2020
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Annual Urban Renewal Report, Fiscal Year 2019
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
Slum No
Subject to a Statutory end date? Yes Blighted No
Fiscal year this TIF Taxing District Economic Development 01/2009
statutorily ends: 2030
TIF Taxing District Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 8,762,600 0 0 0 8,762,600 O N 8,762,600
Taxable 0 0 7,886,340 0 0 0 7,886,340 0 7,886,340
Homestead Credits 0
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 25,851 7,886,340 7,886,340 0 0
FY 2020 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
FY TIF Revenue First Received: 2011 UR Designation
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 - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 0 0 0 0 0 0
Taxable 0 0 0 0 0 0 0 0 0
Homestead Credits 0
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 0 0 0 0 0
FY 2020 TIF Revenue Received: 0
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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 12,740,380
Urban Renewal Area Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric 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
TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance
as of 07-01-2019: 0 0 Restricted for LMI
TIF Revenue: 0
TIF Sp. Revenue Fund Interest: 0
Property Tax Replacement Claims 296,303
Asset Sales & Loan Repayments: 0
Total Revenue: 296,303
Rebate Expenditures: 296,303
Non-Rebate Expenditures: 0
Returned to County Treasurer: 0
Total Expenditures: 296,303
TIF Sp. Rev. Fund Cash Balance Amount of 06-30-2020 Cash Balance
as of 06-30-2020: Restricted for LMI
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Projects For AMES CAMPUSTOWN URBAN RENEWAL
Campustown Kingland Building
Description: Office and Retail Development
Classification: Commercial - office properties
Physically Complete: Yes
Payments Complete: Yes
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Debts/Obligations For AMES CAMPUSTOWN URBAN RENEWAL
Campustown Urban Renewal
Debt/Obligation Type: Rebates
Principal: 296,303
Interest: 0
Total: 296,303
Annual Appropriation?: Yes
Date Incurred: 11/10/2015
FY of Last Payment: 2020
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Rebates For AMES CAMPUSTOWN URBAN RENEWAL
Kingland Systems
TIF Expenditure Amount: 296,303
Rebate Paid To: Kingland Systems
Tied To Debt: Campustown Urban Renewal
Tied To Project: Campustown Kingland Building
Projected Final FY of Rebate: 2020
Created: Tue Nov 10 13:18:20 CST 2020
Page 14 of 29
♦ Annual Urban Renewal Report, Fiscal Year ,
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 2020
Created: Tue Nov 10 13:18:20 CST 2020
Page 15 of 29
♦ Annual Urban Renewal Report, Fiscalllear
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 SCWCAMPUSTOWN URBAN RENEWALTIF INCREM
TIF Taxing District Inc. Number: 850230
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 11/2013
statutorily ends: 2037
TIF Taxing District Value by Class - 1/1/2018 for FY 2020
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 0
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 3,467,200 13,607,800 12,740,380 867,420 20,174
FY 2020 TIF Revenue Received: 0
Created: Tue Nov 10 13:18:20 CST 2020
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- 4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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 24,539,206
AMES CITY AG/AMES SCH/ISU RESEARCH PARK URBAN RENEWAL TIF INCREM 850629 850229 0
Urban Renewal Area Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 230,200 27,120,200 0 0 0 27,350,400 0 27,350,400
Taxable 0 131,026 24,408,180 0 0 0 24,539,206 0 24,539,206
Homestead Credits 0
TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance
as of 07-01-2019: -205,050 0 Restricted for LMI
TIF Revenue: 0
TIF Sp. Revenue Fund Interest: 489
Property Tax Replacement Claims 724,473
Asset Sales & Loan Repayments: 0
Total Revenue: 724,962
Rebate Expenditures: 0
Non-Rebate Expenditures: 310,912
Returned to County Treasurer: 0
Total Expenditures: 310,912
TIF Sp. Rev. Fund Cash Balance Amount of 06-30-2020 Cash Balance
as of 06-30-2020: 209,000 0 Restricted for LMI
Created: Tue Nov 10 13:18:20 CST 2020
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4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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
Created: Tue Nov 10 13:18:20 CST 2020
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4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Debts/Obligations For AMES ISU RESEARCH PARK URBAN RENEWAL
General Obligation Series 2015A
Debt/Obligation Type: Gen. Obligation Bonds/Notes
Principal: 2,095,000
Interest: 322,750
Total: 2,417,750
Annual Appropriation?: No
Date Incurred: 11/13/2015
FY of Last Payment: 2027
Created: Tue Nov 10 13:18:20 CST 2020
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4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Non-Rebates For AMES ISU RESEARCH PARK URBAN RENEWAL
TIF Expenditure Amount: 310,912
Tied To Debt: General Obligation Series 2015A
Tied To Project: ISURP Infrastructure Extension
Created: Tue Nov 10 13:18:20 CST 2020
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4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
TIF Ord. amended 11.12.2019
256 Characters Left
Sum of Private Investment Made Within This Urban Renewal Area
during FY 2020
Created: Tue Nov 10 13:18:20 CST 2020
Page 21 of 29
4 Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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 11/2013
statutorily ends: 2037
TIF Taxing District Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 230,200 27,120,200 0 0 0 27,350,400 O F 27,350,400
Taxable 0 131,026 24,408,180 0 0 0 24,539,206 0 24,539,206
Homestead Credits 0
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 126,518 24,539,206 24,539,206 0 0
FY 2020 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 SCH/ISU 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 NoBlighted No
Subject to a Statutory end date? No Economic Development No
TIF Taxing District Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 0 0 0 0 0 0
Taxable 0 0 0 0 0 0 0 0
Homestead Credits
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 413,712 0 0 0 0
FY 2020 TIF Revenue Received: 0
Created: Tue Nov 10 13:18:20 CST 2020
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Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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 No. No. Value
Used
AMES CITY/AMES SCH/BARILLA URBAN RENEWAL INCREM 850638 850238 418,152
Urban Renewal Area Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 0 41,832,700 0 0 41,832,700 0 41,832,700
Taxable 0 0 0 37,649,430 0 0 37,649,430 0 37,649,430
Homestead Credits 0
TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance
as of 07-01-2019: -12,259 0 Restricted for LMI
TIF Revenue: 0
TIF Sp. Revenue Fund Interest: 0
Property Tax Replacement Claims 9,725
Asset Sales & Loan Repayments: 0
Total Revenue: 9,725
Rebate Expenditures: 0
Non-Rebate Expenditures: 0
Returned to County Treasurer: 0
Total Expenditures: 0
TIF Sp. Rev. Fund Cash Balance Amount of 06-30-2020 Cash Balance
as of 06-30-2020: -2,534 0 Restricted for LMI
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2
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
Created: Tue Nov 10 13:18:20 CST 2020
Page 24 of 29
♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Debts/Obligations For AMES BARILLA URBAN RENEWAL
Barilla TIF Rebate
Debt/Obligation Type: Rebates
Principal: 0
Interest: 0
Total: 0
Annual Appropriation?: Yes
Date Incurred: 11/13/2018
FY of Last Payment: 2019
Created: Tue Nov 10 13:18:20 CST 2020
Page 25 of 29
♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
Non-Rebates For AMES BARILLA URBAN RENEWAL
TIF Expenditure Amount: 0
Tied To Debt: Barilla TIF Rebate
Tied To Project: Barilla Expansion
Created: Tue Nov 10 13:18:20 CST 2020
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♦ Annual Urban Renewal Report, Fiscal Year 2019 - 2020
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
Created: Tue Nov 10 13:18:20 CST 2020
Page 27 of 29
Annual Urban Renewal Report, Fiscal Year 2019
Entered development agreement in November 2018, activity for FY 2018/19 reflects costs related
to establishment of URA and TIF. 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.
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Sum of Private Investment Made Within This Urban Renewal Area
during FY 2020
64000000
Created: Tue Nov 10 13:18:20 CST 2020
Page 28 of 29
Annual Urban Renewal Report, Fiscal Year 2019
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 SCEVBARILLA URBAN RENEWAL INCREM
TIF Taxing District Inc. Number: 850238
TIF Taxing District Base Year: 2017 UR Designation
Slum No
FY TIF Revenue First Received: Blighted No
Subject to a Statutory end date? No Economic Development No
TIF Taxing District Value by Class - 1/1/2018 for FY 2020
Agricultural Residential Commercial Industrial Other Military Total Gas/Electric Utility Total
Assessed 0 0 0 41,832,700 0 0 41,832,700 0 41,832,700
Taxable 0 0 0 37,649,430 0 0 37,649,430 0 37,649,430
Homestead Credits 0
Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used
Fiscal Year 2020 38,813,000 3,019,700 418,152 2,601,548 60,504
FY 2020 TIF Revenue Received: 0
Created: Tue Nov 10 13:18:20 CST 2020
Page 29 of 29
RESOLUTION
Obligating funds from City of Ames Barilla Urban Renewal Area Urban Renewal
Tax Revenue Fund for appropriation to the payment of annual appropriation tax
increment rebate payments due to be paid in the next succeeding fiscal year
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 Barilla 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 `Barilla 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, pursuant to the City's Development Agreement (the "Agreement") with
Barilla America, Inc. (the "Company"), approved by resolution of the City Council on November
13, 2018, the City agreed to make economic development tax increment payments to the
Company, subject to annual appropriation by the City Council; and
WHEREAS, payments under the Agreement are scheduled to be made from the Barilla
Urban Renewal Tax Revenue Fund during the fiscal year that will begin July 1, 2021, in a total
amount equal to 100% of the incremental property tax payments made by the Company in that
fiscal year(the "Payments"); and
WHEREAS, it is now necessary for the City Council to obligate for appropriation to the
Payments, funds anticipated to be received in the Barilla Urban Renewal Tax Revenue Fund in
the fiscal year that will begin July 1, 2021;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The City Council hereby obligates for appropriation from the Barilla
Urban Renewal Tax Revenue Fund the amount of$420,000, which is estimated to be an amount
equal to 100% of the incremental property tax revenues that are expected to be received by the
City in such fund from the Story County Treasurer in the fiscal year that will begin July 1, 2021.
Section 2. The City Clerk and Finance Director are hereby authorized and directed to
certify to the Story County Auditor the amount obligated for appropriation in Section 1 above as
part of the City's 2020 certification of debt payable from the Barilla Urban Renewal Tax
Revenue Fund and to reflect such estimated amount in the City's budget for the fiscal year that
will begin July 1, 2021.
Section 3. All resolutions or parts of resolutions in conflict herewith are hereby
repealed.
Passed and approved November 24, 2020.
Mayor
Attest:
City Clerk
RESOLUTION
Obligating funds from City of Ames Campustown Urban Renewal Area Urban
Renewal Tax Revenue Fund for appropriation to the payment of annual
appropriation tax increment rebate payments due to be paid in the next succeeding
fiscal year
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 "Campustown 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, pursuant to the City's Development Agreement (the "Agreement") with
Kingland Systems Corporation (the "Company"), approved by resolution of the City Council on
December 10, 2013, the City agreed to make economic development tax increment payments to
the Company, subject to annual appropriation by the City Council; and
WHEREAS, payments under the Agreement are scheduled to be made from the
Campustown Urban Renewal Tax Revenue Fund during the fiscal year that will begin July 1,2021,
in a total amount equal to 100% of the incremental property tax payments made by the Company
in that fiscal year(the "Payments"); and
WHEREAS, it is now necessary for the City Council to obligate for appropriation to the
Payments,funds anticipated to be received in the Campustown Urban Renewal Tax Revenue Fund
in the fiscal year that will begin July 1, 2021;
NOW, THEREFORE, It Is Resolved by the City Council of the City of Ames, Iowa, as
follows:
Section 1. The City Council hereby obligates for appropriation from the Campustown
Urban Renewal Tax Revenue Fund the amount of$360,000, which is estimated to be an amount
equal to 100% of the incremental property tax revenues that are expected to be received by the
City in such fund from the Story County Treasurer in the fiscal year that will begin July 1, 2021.
Section 2. The City Clerk and Finance Director are hereby authorized and directed to
certify to the Story County Auditor the amount obligated for appropriation in Section I above as
part of the City's 2020 certification of debt payable from the Campustown Urban Renewal Tax
Revenue Fund and to reflect such estimated amount in the City's budget for the fiscal year that
will begin July 1, 2021.
Section 3. All resolutions or parts of resolutions in conflict herewith are hereby
repealed.
Passed and approved November 24, 2020.
Mayor
Attest:
City Clerk