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Home My WebLink AboutRESOLUTION NO. 2020-91 RESOLUTION NO. 2020-91 RESOLUTION APPROVING ANNUAL URBAN RENEWAL REPORT FOR FISCAL YEAR 2019-2020 WHEREAS,the City of Fairfax is required to prepare and submit an Annual Urban Renewal Report. NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of Fairfax, Iowa: Section 1. The Council has reviewed this report. Section 2. The City Clerk is directed to submit this report to the State of Iowa before the deadline of December 1, 2020. BE IT FURTHER RESOLVED, by the City Council of Fairfax, Iowa, that the Mayor and the City Clerk are hereby authorized and directed to execute said Resolution. Passed and approved this 13th day of October, 2020. AYES: Otto, Daly, Pacha, and Wainwright NAYS: None ABSENT: Volk Burnell G. Frieden, Mayor ATTEST: t �pry C thia K. Stimson, City Clerk/Treasurer s 4y Levy Authority Summary Local Government Name: FAIRFAX Local Government Number: 57G544 U.R. #of Tif Active Urban Renewal Areas # Taxing Districts FAIRFAX URBAN RENEWAL 57050 8 TIF Debt Outstanding: 9,379,855 ............................................................................................................................................................................................................ TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance as of 07-01-2019: 153,526 0 Restricted for LMI TIF Revenue: 1,008,553 TIF Sp. Revenue Fund Interest: 771 Property Tax Replacement Claims 0 Asset Sales & Loan Repayments: 2,050 Total Revenue: 1,011,374 Rebate Expenditures: 0 Non-Rebate Expenditures: 984,037 Returned to County Treasurer: 0 Total Expenditures: 984,037 :�'.-.rv'.�2sr�ra .vS�Yr.`. r.r.vl`:'w ri.r�r.tiv:'-er,rry.vrv..`...,...rs:Sc'.�.'7rrv'ti zr:.�rvr:.;r3v`-�,r}r.,r.;r.rr....i.vri^Sv.v:r.�fds7.rx.,Y..r�.'iFa-.:`7c4.nir ".v'r•.: v`r..Sh��'�'"�.7?,... S✓`.`s i'�'..:.�4',1"�r£�`3i 3 :'Yf Year-End Outstanding TIF Obligations, Net of TIF Special Revenue Fund Balance: 8,214,955 Created:Wed Oct 07 15:23:39 CDT 2020 Page 1 of 14 Annual Urban Renewal Report, Fiscal Year 2019 2020 Urban Renewal Area Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL UR Area Number: 57050 UR Area Creation Date: 11/1998 This UR Plan was developed to help local officials promote economic development in Fairfax. Primary goal is to stimulate, through public involvement& committment, private investment in new& expanding commercial, industrial, & residential UR Area Purpose: development. Base Increment Increment Tax Districts within this Urban Renewal Area No. No. value Used FAIRFAX CITY/COLLEGE SCH/ #1 INCR 570440 570441 17,369,529 FAIRFAX CITY AG/COLLEGE SCH/#1 INCR 570442 570443 0 FAIRFAX CITY/COLLEGE SCH/ 92 INCR 570624 570625 19,631,359 FAIRFAX CITY AG/COLLEGE SCH/ #2 INCR 570626 570627 0 FAIRFAX CITY/COLLEGE SCH/ #3 INCR 570720 570721 1,214,931 FAIRFAX TWP/COLLEGE SCH/FAIRFAX 2013 #4 TIF INCREM 570738 570739 10,002 FAIRFAX CITY/COLLEGE SCH/ #4 TIF INCR 570740 570741 0 FAIRFAX CITY AG/COLLEGE SCH/ #4 TIF INCREM 570742 570743 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 236,000 106,720,000 1,385,900 0 0 -103,712 108,238,188 0 �� Taxable 132,473 60,742,901 1,247,310 0 0 -103,712 62,018,972 0 Homestead Credits TIF Sp. Rev. Fund Cash Balance Amount of 07-01-2019 Cash Balance as of 07-01-2019: 153,526 0 Restricted for LMI TIF Revenue: 1,008,553 TIF Sp. Revenue Fund Interest: 771 Property Tax Replacement Claims 0 Asset Sales & Loan Repayments: 2,050 Total Revenue: 1,011,374 Rebate Expenditures: 0 Non-Rebate Expenditures: 984,037 Returned to County Treasurer: 0 Total Expenditures: 984,037 01 Id p+. 4 z. SN �-• 0 � �S' � `'' ys'c7 1`. .!' `T>'`.i '..1^C_.^a r:..�'U`F : r T+v ..,a� �...�....,Y".r_.c..». i,. r .._.✓:,;. �ti��,.F� .., ..: � ...=C.S. ....�.,;..; c...,.,... .�..�.r,� ,v ccv.:....c.:.s�lK3�� 1",��".'�.�,La��:a�.,._.w,-;��x�;nsZ.__��...,,.Lcr„ Created:Wed Oct 07 15:23:39 CDT 2020 Page 2 of 14 -.% Annual Urban Renewal Report, Fiscal Year 2019 2020 Projects For FAIRFAX URBAN RENEWAL Remote Meter Read Program Description: remote meter read program Classification: Roads,Bridges & Utilities Physically Complete: Yes Payments Complete: No Park & Athletic Fields new park with athletic fields,trail, playground, and Description: building Recreational facilities (lake development, parks, ball fields, Classification: trails) Physically Complete: Yes Payments Complete: No Water Main Replacement 2011 Description: water main replacement Classification: Roads,Bridges & Utilities Physically Complete: Yes Payments Complete: No Water Main Replacement 2012 Description: water main replacement Classification: Roads,Bridges & Utilities Physically Complete: Yes Payments Complete: Yes Sanitary Sewer & Water Extensions Description: sewer and water lines extensions Classification: Roads, Bridges & Utilities Physically Complete: Yes Payments Complete: Yes Parking Lot Improvements Description: parking lot improvements Recreational facilities (lake development, parks, ball fields, Classification: trails) Physically Complete: Yes Payments Complete: No Administrative Fees Description: loan processing fees Created: Wed Oct 07 15:23:39 CDT 2020 Page 3 of 14 Classification: Administrative expenses Physically Complete: No Payments Complete: No East Cemetery Rd Area Improvements Phase 1 Description: water and sewer extension and drainage improvements Classification: Roads, Bridges & Utilities Physically Complete: Yes Payments Complete: No East Cemetery Rd Area Improvements Phase 2 Description: drainage improvements, street reconsturction Classification: Roads,Bridges & Utilities Physically Complete: Yes Payments Complete: No Trail Project 2014 Description: trail with pedestrian bridge Recreational facilities (lake development, parks, ball fields, Classification: trails) Physically Complete: Yes Payments Complete: No Vanderbilt, WM, UV, FD, & Dev Description: street, water, & sewer improv, fire truck, dev planing Classification: Roads, Bridges & Utilities Physically Complete: Yes Payments Complete: No Well Upgrades, Water System Study, Tower Design, WM Ext, Street Design Description: Water system and street projects Classification: Roads,Bridges& Utilities Physically Complete: No Payments Complete: No Sanitary Sewer Improvements Description: Heartland Heights Sewer Participation Classification: Water treatment plants, waste treatment plants & lagoons Physically Complete: Yes Payments Complete: No Water System Improvements Description: Heartland Height Water Participation Classification: Water treatment plants, waste treatment plants & lagoons Physically Complete: Yes Payments Complete: No Created:Wed Oct 07 15:23:39 CDT 2020 Page 4 of 14 Bridge Project Design Description: Bridge Realignment Project Classification: Roads,Bridges& Utilities Physically Complete: No Payments Complete: No Splash Pad Description: Splash Pad Recreational facilities (lake development, parks, ball fields, Classification: trails) Physically Complete: No Payments Complete: No Bridge Realignment Project Description: W Cem Rd Bridge Project Classification: Roads, Bridges & Utilities Physically Complete: No Payments Complete: No Water Storage 2020 Bond Description: At grade water storage project Classification: Roads, Bridges & Utilities Physically Complete: No Payments Complete: No Heartland Heights Park Improvements 2020 Description: New park improvements Recreational facilities (lake development, parks, ball fields, Classification: trails) Physically Complete: No Payments Complete: No Heartland Heights Participation 2020 Description: Sewer improvements & other Classification: Roads, Bridges & Utilities Physically Complete: No Payments Complete: No Created: Wed Oct 07 15:23:39 CDT 2020 Page 5 of 14 4 Annual Urban Renewal Report, Fiscal Year 2019 2020 Debts/Obligations For FAIRFAX URBAN RENEWAL $139,000 GO, SRF Series 2010 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 54,940 Interest: 11,267 Total: 66,207 Annual Appropriation?: No Date Incurred: 02/10/2010 FY of Last Payment: 2029 $540,000 GO, Series 2011 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 180,000 Interest: 12,840 Total: 192,840 Annual Appropriation?: No Date Incurred: 05/12/2011 FY of Last Payment: 2022 $590,000 GO, Series 2012 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 55,000 Interest: 935 Total: 55,935 Annual Appropriation?: No Date Incurred: 06/26/2012 FY of Last Payment: 2020 $2,260,000 GO, Series 2001B Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 1,010,000 Interest: 84,910 Total: 1,094,910 Annual Appropriation?: No Date Incurred: 11/10/2011 FY of Last Payment: 2024 $2,485,000 GO, Series 2013 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 1,425,000 Interest: 138,663 Total: 1,563,663 Annual Appropriation?: No Date Incurred: 09/10/2013 FY of Last Payment: 2025 Created:Wed Oct 07 15:23:39 CDT 2020 Page 6 of 14 $1,330,000 GO, Series 2014 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 925,000 Interest: 103,159 Total: 1,028,159 Annual Appropriation?: No Date Incurred: 04/08/2014 FY of Last Payment: 2027 Administrative Expenses Debt/Obligation Type: Internal Loans Principal: 33,028 Interest: 0 Total: 33,028 Annual Appropriation?: No Date Incurred: 04/08/2014 FY of Last Payment: 2035 $2,080,000 GO, Series 2015 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 1,170,000 Interest: 150,268 Total: 1,320,268 Annual Appropriation?: No Date Incurred: 06/10/2015 FY of Last Payment: 2028 955,000 GO, Series 2017 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 728,800 Interest: 76,833 Total: 805,633 Annual Appropriation?: No Date Incurred: 06/27/2017 FY of Last Payment: 2029 $2,170,000 GO 2018 Debt/Obligation Type: Gen. Obligation Bonds/Notes Principal: 2,135,000 Interest: 426,618 Total: 2,561,618 Annual Appropriation?: No Date Incurred: 08/28/2018 FY of Last Payment: 2031 $1,270,000 GO 2020 Debt/Obligation Type: Gen. Obligation Bonds/Notes Created:Wed Oct 07 15:23:39 CDT 2020 Page 7 of 14 Principal: 657,594 Interest: 0 Total: 657,594 Annual Appropriation?: No Date Incurred: 02/11/2020 FY of Last Payment: 2035 Created: Wed Oct 07 15:23:39 CDT 2020 Page 8 of 14 Annual Urban Renewal Report, Fiscal Year 2019 2020 Non-Rebates For FAIRFAX URBAN RENEWAL TIF Expenditure Amount: 6,568 Tied To Debt: $139,000 GO, SRF Series 2010 Tied To Project: Remote Meter Read Program TIF Expenditure Amount: 66,270 Tied To Debt: $540,000 GO, Series 2011 Tied To Project: Water Main Replacement 2011 TIF Expenditure Amount: 55,935 Tied To Debt: $590,000 GO, Series 2012 Tied To Project: Water Main Replacement 2011 TIF Expenditure Amount: 216,390 Tied To Debt: $2,260,000 GO, Series 2001B Tied To Project: Water Main Replacement 2012 TIF Expenditure Amount: 137 Tied To Debt: $139,000 GO, SRF Series 2010 Tied To Project: Administrative Fees TIF Expenditure Amount: 500 Tied To Debt: $540,000 GO, Series 2011 Tied To Project: Administrative Fees TIF Expenditure Amount: 500 Tied To Debt: $590,000 GO, Series 2012 Tied To Project: Administrative Fees TIF Expenditure Amount: 500 Tied To Debt: $2,260,000 GO, Series 2001B Tied To Project: Administrative Fees TIF Expenditure Amount: 211,988 Tied To Debt: $2,485,000 GO, Series 2013 Tied To Project: East Cemetery Rd Area Improvements Phase 1 TIF Expenditure Amount: 500 Tied To Debt: $2,485,000 GO, Series 2013 Tied To Project: Administrative Fees TIF Expenditure Amount: 390 Tied To Debt: $2,080,000 GO, Series 2015 Tied To Project: Administrative Fees TIF Expenditure Amount: 126,628 Tied To Debt: $1,330,000 GO, Series 2014 Tied To Project: East Cemetery Rd Area Improvements Phase 2 Created:Wed Oct 07 15:23:39 CDT 2020 Page 9 of 14 TIF Expenditure Amount: 500 Tied To Debt: $1,330,000 GO, Series 2014 Tied To Project: Administrative Fees TIF Expenditure Amount: 146,317 Tied To Debt: $2,080,000 GO, Series 2015 Tied To Project: Vanderbilt, WM, UV, FD, & Dev TIF Expenditure Amount: 150,426 Tied To Debt: 955,000 GO, Series 2017 Tied To Project: Well Upgrades, Water System Study, Tower Design, WM Ext, Street Design TIF Expenditure Amount: 488 Tied To Debt: 955,000 GO, Series 2017 Tied To Project: Administrative Fees TIF Expenditure Amount: 0 Tied To Debt: $2,170,000 GO 2018 Tied To Project: Water System Improvements TIF Expenditure Amount: 0 Tied To Debt: $2,170,000 GO 2018 Tied To Project: Administrative Fees TIF Expenditure Amount: 0 Tied To Debt: $1,270,000 GO 2020 Tied To Project: Water Storage 2020 Bond TIF Expenditure Amount: 0 Tied To Debt: $1,270,000 GO 2020 Tied To Project: Administrative Fees Created:Wed Oct 07 15:23:39 CDT 2020 Page 10 of 14 fi Annual Urban Renewal Report, Fiscal Year 2019 2020 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY/COLLEGE SCH/#I INCR TIF Taxing District Inc. Number: 570441 TIF Taxing District Base Year: 2000 FY TIF Revenue First Received: 2003 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development 11/2001 statutorily ends: 2023 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 46,160,900 0 0 0 -51,856 46,109,044 0 � � 14 Taxable 0 26,273,880 0 0 0 -51,856 26,222,024 0 -""," Homestead Credits Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2020 520,369 26,222,024 17,369,529 8,852,495 227,875 FY 2020 TIF Revenue Received: 460,354 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY AG/COLLEGE SCH/#1 INCR TIF Taxing District Inc. Number: 570443 TIF Taxing District Base Year: 2000 FY TIF Revenue First Received: 2003 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development 11/2001 statutorily ends: 2023 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 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 64,274 0 0 0 0 FY 2020 TIF Revenue Received: 0 Created:Wed Oct 07 15:23:39 CDT 2020 Page I 1 of 14 Annual Urban Renewal Report, Fiscal Year 2019 2020 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY/COLLEGE SCl/#2 INCR TIF Taxing District Inc. Number: 570625 TIF Taxing District Base Year: 2005 FY TIF Revenue First Received: 2008 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development 07/2006 statutorily ends: 2028 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 50,399,600 1,082,500 0 0 -24,076 51,458,024 0 � Taxable 0 28,686,436 974,250 0 0 -24,076 29,636,610 0 NP Homestead Credits Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2020 4,732,159 29,636,610 19,631,359 10,005,251 257,549 FY 2020 TIF Revenue Received: 515,937 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY AG/COLLEGE SCH/#2 INCR TIF Taxing District Inc. Number: 570627 TIF Taxing District Base Year: 2005 FY TIF Revenue First Received: 2008 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development 07/2006 statutorily ends: 2028 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 0 011-411 Taxable 0 0 0 0 0 0 0 0 „ Homestead Credits w " 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:Wed Oct 07 15:23:39 CDT 2020 Page 12 of 14 + Annual Urban Renewal Report, FiscalYear 2019- 2020 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY/COLLEGE SCF/#3 INCR TIF Taxing District Inc. Number: 570721 TIF Taxing District Base Year: 2010 FY TIF Revenue First Received: 2015 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development No statutorily ends: 2035 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 10,159,500 303,400 0 0 -27,780 10,435,120 01 Taxable 0 5,782,585 273,060 0 0 -27,780 6,027,865 0 Homestead Credits ` ' Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2020 8,628,771 1,834,129 1,214,931 619,198 15,939 FY 2020 TIF Revenue Received: 32,262 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX TWP/COLLEGE SCH/FAIRFAX 2013 #4 TIF INCREM TIF Taxing District Inc. Number: 570739 TIF Taxing District Base Year: 2012 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 199,700 0 0 0 0 0 199,700 0 �� Taxable 112,097 0 0 0 0 0 112,097 0 gem Homestead Credits v�ti Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2020 160,900 38,800 10,002 28,798 605 FY 2020 TIF Revenue Received: 0 Created: Wed Oct 07 15:23:39 CDT 2020 Page 13 of 14 -o%L Annual Urban Renewal Report, FiscalYear;2019 2020 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY/COLLEGE SCH/#4 TIF INCR TIF Taxing District Inc. Number: 570741 TIF Taxing District Base Year: 2012 FY TIF Revenue First Received: 2016 UR Designation Slum No Subject to a Statutory end date? Yes Blighted No Fiscal year this TIF Taxing District Economic Development No statutorily ends: 2036 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 gym s Homestead Credits 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 TIF Taxing District Data Collection Local Government Name: FAIRFAX (57G544) Urban Renewal Area: FAIRFAX URBAN RENEWAL (57050) TIF Taxing District Name: FAIRFAX CITY AG/COLLEGE SCH/#4 TIF INCREM TIF Taxing District Inc. Number: 570743 TIF Taxing District Base Year: 2012 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 36,300 0 0 0 0 0 36,300 0 10 Taxable 20,376 0 0 0 0 0 20,376 0 Homestead Credits N Frozen Base Value Max Increment Value Increment Used Increment Not Used Increment Revenue Not Used Fiscal Year 2020 60,000 0 0 0 0 FY 2020 TIF Revenue Received: 0 Created:Wed Oct 07 15:23:39 CDT 2020 Page 14 of 14