HomeMy WebLinkAboutRESOLUTION NO. 2020-107 RESOLUTION NO. 2020-107
RESOLUTION APPROVING THE TIF CERTIFICATION FORMS
WHEREAS, the City of Fairfax has debt obligations which are paid with Tax Increment
Funds; and
WHEREAS, the City of Fairfax is required to annually certify the amount needed of the
available Tax Increment Funds; and
WHEREAS, the Fairfax City Council has reviewed the debt requirements and the
certification forms as completed by the city clerk/treasurer.
NOW, THEREFORE, BE IT RESOLVED that the Fairfax City Council does hereby
approve the TIF Certification Forms as submitted by the city clerk/treasurer on November 10,
2020, for the 2022 fiscal year taxes.
BE IT FURTHER RESOLVED, by the City Council of the City of Fairfax, Iowa, that
the Mayor and City Clerk/Treasurer are hereby authorized and directed to execute said Resolution
and file the required paperwork with Linn County Auditor before December 1, 2020, in order to
receive the amount of Tax Increment Funds as certified.
Passed and approved this 10"' day of November 2020.
AYES: Otto, Daly, Pacha, Volk, and Wainwright
NAYS: None
Burnell G. Frieden, Mayor
ATTEST:
C nthia Stimson, City Clerk/Treasurer
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: Fairfax County: Linn
Urban Renewal Area Name: Fairfax Urban Renewal Area
Urban Renewal Area Number: 57050 (Use five-digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above the
City has outstanding loans, advances, indebtedness, or bonds, none of which have been previously certified, in the
collective amount shown below, all of which qualify for repayment from the special fund referred to in paragraph 2
of Section 403.19 of the Code of Iowa.
Urban Renewal Area Indebtedness Not Previously Certified*: $ 2,152,818
*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:
Dated this day ofL
C
n
Sig ture of Authorized Official Telephone
CITY TIF FORM 1.1 -To be attached to CITY TIF FORM 1 - INDEBTEDNESS CERTIFICATION Page 1
TIF INDEBTEDNESS NOT PREVIOUSLY CERTIFIED ELIGIBLE FOR TAX COLLECTIONS NEXT FISCAL YEAR
City: Fairfax County: Linn
Urban Renewal Area Name: Fairfax Urban Renewal Area
Urban Renewal Area Number: 57050 (Use five-digit Area Number Assigned by the County Auditor)
Individual TIF Indebtedness Type/Description/Details: Date Approved*: [To7talAmount:
1. $1,270,000 GO Bond Series 2020A 01-21-2020 744,006
$739,271 P&I plus$4,735.00 in fees
F]Xthis box if a rebate agreement. List administrative details on lines above.
2. $4,575.000 GO Annual Appropriation Urban Renewal Bonds, Series 2020B 10-27-2020 111,285
$39,442.06 FY21; $70,642.50 FY22; $1,200 fees
FIX this box if a rebate agreement. List administrative details on lines above.
3. $1,280,000 GO Refunding Bonds, Series 2020C 10-27-2020 1,297,528
$1,294,527.60 P&I; $3,000.00 fees
FI Xthis box if a rebate agreement. List administrative details on lines above.
4.
FI X'this box if a rebate agreement. List administrative details on lines above.
5.
FIX this box if a rebate agreement. List administrative details on lines above.
If more indebtedness entry lines are needed continue to Form 1.1 Page 2.
Total For City TIF Form 1.1 Page 1: 2,152,818
*"Date Approved" is the date that the local governing body initially approved the TIF indebtedness.
CITY TIF FORM 2
SPECIFIC DOLLAR REQUEST FOR AVAILABLE TIF INCREMENT TAX FOR NEXT FISCAL YEAR
CERTIFICATION TO COUNTY AUDITOR
Due To County Auditor By December 1 Prior To The Fiscal Year
Where Less Than The Legally Available TIF Increment Tax Is Requested
Use One Certification Per Urban Renewal Area
City: Fairfax County: Linn
Urban Renewal Area Name: Fairfax Urban Renewal Area
Urban Renewal Area Number: 57050 (Use five-digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the next fiscal year and for the Urban Renewal Area within the City
and County named above, the City requests less than the maximum legally available TIF increment tax as detailed
below.
Provide sufficient detail so that the County Auditor will know how to specifically administer your request. For
example you may have multiple indebtedness certifications in an Urban Renewal Area, and want the maximum
tax for rebate agreement property that the County has segregated into separate taxing districts, but only want
a portion of the available increment tax from the remainder of the taxing districts in the Area.
Specific Instructions To County Auditor For Administering The Request That This Amount
Urban Renewal Area Generate Less Than The Maximum Available TIF Increment Tax: Requested:
1,045,000
Dated this 1/ day of XNIY`111)/b:', A5/
Si ature of Authorized Official Telephone
CITY TIF FORM 3
TIF INDEBTEDNESS HAS BEEN REDUCED BY REASON OTHER THAN APPLICATION OF
TIF INCREMENT TAX RECEIVED FROM THE COUNTY TREASURER
CERTIFICATION TO COUNTY AUDITOR
Use One Certification Per Urban Renewal Area
City: Fairfax County: Linn
Urban Renewal Area Name: Fairfax Urban Renewal Area
Urban Renewal Area Number: 57050 (Use five-digit Area Number Assigned by the County Auditor)
I hereby certify to the County Auditor that for the Urban Renewal Area within the City and County named above, the
City has reduced previously certified indebtedness, by reason other than application of TIF increment tax received
from the County Treasurer, by the total amount as shown below.
Provide sufficient detail so that the County Auditor will know how to specially administer your request. For example,
you could have multiple indebtedness certifications in the Urban Renewal Area, and the County Auditor would need
to know which particular indebtedness certifcation(s) to reduce. If rebate agreements are involved with a reduction,
and the County has segregated the rebate property into separate TIF Increment taxing districts, provide the five-digit
county increment taxing district numbers for reference.
Individual TIF Indebtedness Type/Description/Details: Amount
Reduced:
$2,485,000 GO Bond, Series 2013-paid off with Series 2020C Bond 1,354,775
$1,250,000 P, $102,275.00 I, $2,500.00 fees
Total Reduction In Indebtedness For This Urban Renewal Area: 1,354,775
Dated this 1114 qday of . � �j _ G
ignature of Authorized Official Telephone