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HomeMy WebLinkAbout~Master - Adopting the Downtown Reinvestment District Urban Renewal Area and Plan RESOLUTION NO. 21-467 RESOLUTION ADOPTING THE DOWNTOWN REINVESTMENT DISTRICT URBAN RENEWAL AREA AND PLAN FOR THE CITY OF AMES,IOWA WHEREAS, at its February 23, 2021, meeting City Council voted to proceed with the process to create an Urban Renewal Area that would have the same boundaries as the area included in the Iowa Reinvestment District Program application; and, WHEREAS,Urban Renewal Areas allow for a city to use a variety of powers and authorities to remove slum and blight and support economic development within an Urban Renewal Area, as defined by Chapter 403 of the Code of Iowa; and, WHEREAS, an Urban Renewal Plan for an Urban Renewal Area may also establish Tax Increment Financing(TIF) districts to financially support the objectives and projects of the Urban Renewal Plan; and, WHEREAS, the proposed Urban Renewal Area comprises approximately 75 acres of land in and near Downtown Ames,and the proposed boundaries overlap with the Downtown area as well as the Lincoln Way Corridor Plan; and, WHEREAS,Downtown Ames is highlighted within the City's Land Use Policy Plan(LUPP) as an Urban Core and point of emphasis for supporting amenities and high levels of commercial; and, WHEREAS, the Lincoln Way Corridor Plan, along with the Downtown Gateway Commercial(DGC)zoning district,were created and adopted with the intent to foster redevelopment within this general area and to support reinvestment in Downtown; and, WHEREAS,the proposed Urban Renewal Plan(URP)is intended to improve blighted areas and promote economic development for the City of Ames within this core area of the City, which will be done through a combination of public and private activities over the life of the Plan; and, WHEREAS, the URP identifies potential projects that include private redevelopment, construction of new public facilities,land acquisition,and new or replaced public infrastructure;and, WHEREAS, the proposed URP contemplates use of General Obligation Bonds and TIF as tools to assist in the construction of public facilities and public infrastructure such as,but not limited to,an Indoor Aquatics Center,parking,plazas,water,sewer,stormwater,streets,and pedestrian and bicycle facilities; and, WHEREAS, it is important to emphasize that approval of the proposed Downtown Reinvestment District Urban Renewal Plan does not directly commit the City to any of the projects described in the Plan as they will be subsequently and individually approved by the City Council on a case-by-case basis; and, WHEREAS,there are three steps that needed to occur upon initiation in order to approve the Urban Renewal Plan and those steps included a consultation with tax entities,a Planning and Zoning Commission review for a recommendation of consistency with the Land Use Policy Plan,and to hold a public hearing prior to adoption of the Plan; and, WHEREAS,the Planning and Zoning Commission reviewed the proposed Urban Renewal Area at its August 4,2021,meeting and recommended that the proposed Plan is consistent with the City's LUPP; a consultation meeting was held on August 5, 2021, and there was no input from affected taxing entities;and finally a public hearing notification was published in the Ames Tribune on August 13, 2021, for the August 24 meeting; and, WHEREAS, the URP must reflect if, and how, TIF funds will be used, and the identified amount of TIF funds that can be collected in support of Urban Renewal projects; and, WHEREAS, the Plan identifies up to $30 million dollars for use in facilitating private development, and the Reinvestment District Application identified $25 million for Lincoln Way Mixed Use Development and$3.5 million for the future Kellogg Hotel; and, WHEREAS,based upon escalated costs, staff had increased the potential amount of TIF to $32 million; the Plan itself does not define the specific parameters of TIF; subsequent TIF ordinances will define the location where TIF will be generated and how it will be used. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the proposed Downtown Reinvestment District Urban Renewal Plan and Area are hereby approved. ADOPTED THIS 24th day of August, 2021. Diane R. Voss, City Clerk John A. Haila, Mayor Introduced by: Corrieri Seconded by: Beatty-Hansen Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Martin Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 24' day of August, 2021.