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HomeMy WebLinkAbout2002-06-11 Ordinance City of Iowa City MEMORANDUM TO: City Council Members FROM: Tracy Hightshoe, Associate Planner DATE: June 11, 2002 RE: Heinz Road Urban Renewal Area Legal Description The legal description to the Heinz Road Urban Renewal Area contained a typographical error. The reference to Lot 1, BDI 5th Addition should read Lot 4, BDI Fifth Addition. The above mentioned error was an inadvertent typographical error and did not materially effect the area that the Iowa City Council intended to be effected by and the subject of the resolution, Urban Renewal Plan, and ordinance and all public hearings held thereunder. The corrected legal description is contained in the ordinance for the Heinz Road Urban Renewal Project Area. Please contact Steve Nasby or myself with any concerns at 356-5230. 0Rl011q~k ORDINANCE NO. AN ORDINANCE PROVIDING THAT PROPERTY TAXES LEVIED AND YEAR ON ALL PROPERTY LOCATED HEINZ ROAD URBAN RENEWAL IN THE CITY OF IOWA CITY, COUNTY ~ [SON, -N STATE OF OF THE STATE OF IOWA, CITY OF IOWA COUNTY OF JOHNSON, IOWA CITY, SCHOOL DISTRICT AND BE PAID ,TO A SPECIAL FUND FOR AND INTEREST ON LOANS ) TO Alk~, INDEBTEDNESS, INCL IN RED WHEREAS, the Council of ', City of Iowa City, Iowa, after public notice and hearing as prescribed Resolution No. passed and approved on the an Urban Renewal Plan (the "Urban Renewal Plan") for an Heinz Road Urban Renewal Project Area (the "Urban Renewal ect Area"), which Urban Renewal Project Area includes the lots and parcels area legally described as follows: Commencing at the of the Northerly Right-of- Way Line of U.S. ! , and the Easterly Right-of- Way Line of, in Section 19, Township 79 North, Range West of the Meridian, Iowa City, Johnson C, Iowa; ~f Beginning; Thence North~ Northerly along ' Right-of Way Line of Scott } a Right-of- Way Line oft Heartland along said Southerl' Line of the to the most point of Lot 1, BDI [ ; Thence Southeasterl, Southerl~ the Westerly property line of Lot 1, Fifth Addition to most Southwesterly point of Lot 1, Addition is also the most Northwesterly point of Lot 4, Addition; Thence Southerly and then Southwesterly along the Westerly property line of Lot 4, BDI Second Addition to the most Northwesterly point of Lot 1, BDI Fourth Addition; Thence Southwesterly along the Westerly property line of Lot 1, BDI Fourth Addition to the intersection of the Westerly property line of Lot 1, BDI Fourth Addition and the Northerly Right-of-Way Line of U.S Highway No. 6; Thence to a point perpendicular with the Southerly Right-of-Way of U.S. Highway No. 6; Thence Southeasterly along t~-Southerly Right-of-Way of Highway No. 6 to a point perpendicular to the Easterly Right-of-Way of, Scott Boulevard; Then~,~ Northeasterly to the intersection of the Northerly Right-of?v~ay of Highway 6 and the Right-of-Way of Scott B~ which is said point beginning. (This area ~s ~ referred to WHEREAS, expenditures be incurred by the City of Iowa City, Iowa in the future to project activities carried out in furtherance of the objectives ofl Urban Plan; and WHEREAS, the City Council oft City Iowa desires to provide for the division of revenue from taxation in ect Area, as above described, in accordance with the' ' ' of the Code of Iowa, as amended. NOW, THEREFORE, BE IT ~ THE CITY COUNCIL OF THE CITY OF IOWA CITY, IOWA: / / Section 1. That the taxes le.v(ed on in the Urban Renewal Project Area legally described inJI~e and for the benefit of the State of Iowa, City of Iowa City, Coptlty of Johnson, Community School District, and all other taxing districts fl,6m and after the Ordinance shall be divided as hereinafter in this/Ordinance provided. / Section~2. That pp{tion of the taxes which would be · the rate at which the tax is levied each y,~r by or for each of the taxing distri total sum of the assessed value ofthe/i~xable property in :he Urban Ret ect Area, as shown on the assessment roll 4s of January 1 of the calendar year the first calendar year in which the City oi' Iowa City certifies to the County amount of loans, -2- advances, indebtedness, or bonds payable from the division of property tax revenue described herein, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for the taxing district into which all other property taxes are paid. Section 3. That portion of the taxes each year in excess of the base period taxes determined as provided in Section 2 Ordinance shall allocated to and when collected be paid into a special tax fund of the ~ of Iowa City, Iowa hereby established, to pay the principal indebtedness, whether funded, assumed or c including bonds or obligations issued un of Section 402 or 403.12 of the Code of Iowa, as amended, incurred by the City , finance or refinance, in whole or in part, urban renewal projects ect Area pursuant to the Urban Renewal Plan. of bonds and interest of each taxing district shall be collected a taxable property within the Urban Renewal Project Area without any provided. Section 4. Unless or until tssessed valuation of the taxable property in the Urban Renewal Project Area exceeds value of the taxable property in the Urban Renewal Project Area ~ ~ the assessment roll referred to in Section 2 of this Ordinance, all [ collected upon the taxable property in the Urban Renewal Project Area shall 1 ~ the funds for the respective taxing districts as taxes by or for said taxin in the as all other property taxes. / Section 5. At such time as the loans indebtedness, bonds and interest ? thereon of the City of Iowa Ci~, ~ in Section 3 hereof have been paid, all monies thereafter received fr~m taxes upon in the Urban Renewal Project Area shall be paid i~o the funds for the districts in the same manner as taxes on all other property. / Section 6. All ordinances or in conflict with the provisions of this Ordinance are hereCy repealed. The provisions 'this Ordinance are intended and shall be construed so to fully implement the provi i i of Section 403.19 of the Code of Iowa, as amended,//with respect to the division of ~ :~ from property within the Urban Renewal Project Ar~a as described above. In the eventany provision of this Ordinance shall be//letermined to be contrary to law, it ~, not affect other provisions or application of this Ordinance which shall at all times be invoke the provisions of Section 403.19 of the the Urban Renewal Project Area and the territory contained therein. -3- Section 7. This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Mayor ATTEST: City Clerk Read First Time: Vote for passage: Read Second Time: Vote for passage: / Read Third Time: , Vote for passage: PASSED AND APPR( )VED': _, 2002. I, , , City of the City of Iowa City, Iowa, hereby certify that the ~ bove and foregoing is a tree of Ordinance No. passed and approved b~ the Cie' Council of said held " ,2002, signed by 2002, and publishe~:'in the "Press-Citizen" on 2002. / City Clerk, Iowa Iowa (SEAL) / DLILLEBO\320367\I\I0714.074 -4-