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HomeMy WebLinkAbout2024-04-16 ResolutionItem Number: 5.d. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 1. Cigarette Permit for NG Stores LLC, dba Essentials Vape and Smoke Shop, 568 Highway 1 W. Attachments: Cigarette resolution.pdf Deferred to 5/7/24 Prepared by: City Clerk's Office, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5043 Resolution Number: Resolution to Issue Cigarette Permits Whereas, the following firms and persons have made an application and paid the taxes required by law for the sale of cigarettes, tobacco, nicotine and vapor products. Now, Therefore, be it Resolved by The City Council of Iowa City, Iowa, That: the applications be granted and the City Clerk is hereby directed to issue a permit to the following named persons and firms to sell cigarettes, tobacco, nicotine and vapor products: Essentials Vape and Smoke Shop — 568 Highway 1 W. Passed and approved this day of Attest: City Clerk 20 Mayor Approved by 'tet r� . •.it'�.�a.� �.�..�=� City Attorney's Office It was moved by and seconded by Resolution be adopted, and upon roll call there were: Ayes: Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague the Item Number: 6.a. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution authorizing the City Manager to sign a grant agreement with Dotlizhi LLC for Inclusive Economic Development funds. Prepared By: Sam Turnbull, Grants Specialist Reviewed By: Tracy Hightshoe, Neighborhood and Development Services Director Erika Kubly, Neighborhood Services Coordinator Fiscal Impact: The City has been allocated $18,325,190 in ARPA-SLFR funds of which $4,000,000 has been allocated to Inclusive Economic Development. This agenda item would authorize expenditure of $100,000 of those funds. Staff Recommendation: Approval Commission Recommendations: NA Attachments: Resolution Agreement Executive Summary: As part of the American Rescue Plan Act (ARPA), the City was awarded State and Local Fiscal Recovery (SLFR) funds to respond to the COVID-19 pandemic. This resolution authorizes a grant agreement with Dotlizhi LLC (pronounced dot-CLUH-gee) for $100,000 to provide entrepreneurial cultural workshops, cultural outreach events and grants to small businesses. This resolution further authorizes the City Manager to amend the agreement as needed. Background /Analysis: In an effort to advance the recommendations in the Inclusive Economic Development Plan that was completed in November of 2022, the City launched an ARPA-funded inclusive economic development program for underestimated businesses and entrepreneurs located in Iowa City. The purpose of this program was to cultivate a strong entrepreneurial and small business ecosystem for those who have historically been underrepresented and under - resourced within our community. The plan's goals include bolstering organizations that currently support small businesses and entrepreneurs, provide resources to this community and build the infrastructure to create spaces for underestimated businesses to thrive. This agreement funds a part-time Program Coordinator, contracted professional services, and grants for small businesses. With these funds, Dotlizhi will hold eight entrepreneurial cultural workshops, four cultural outreach activities and award four grants. (0,0- Prepared ,0. Prepared by: Susan Dulek, Frist Assistant City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030 Resolution No. ` 24-91 Resolution authorizing the City Manager to sign a grant agreement with Dotlizhi LLC for Inclusive Economic Development funds. Whereas, the COVID-19 pandemic has had a severe negative economic impact on small businesses in the Iowa City area and elsewhere; and Whereas, the COVID-19 pandemic has had a significant impact on small business owners and a disproportionate impact on BIPOC small business owners; and Whereas, City Council allocated $4,000,000 in ARPA funds to Inclusive Economic Development; and Whereas, Dotlizhi LLC, a for-profit business, seeks to provide entrepreneurial support services to primarily BIPOC entrepreneurs; and Whereas, the City desires to provide funds to allow Dotlizhi LLC to provide entrepreneurial support services to primarily BIPOC entrepreneurs; and Whereas, the provision of the services as set forth in the attached Recipient Grant Agreement is a public purpose. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: The City Manager is authorized to execute the attached Recipient Grant Agreement and amendments thereto as needed. Passed and approved this 16th day of April, 2024. l M Approved by Attest: - I I 'ty Clerk City Attorney's ffice - 04/11/2024 Resolution No. 24-91 Page 2 It was moved by Moe and seconded by Alter the Resolution be adopted, and upon roil call there were: Ayes: Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague . o_ RECIPIENT GRANT AGREEMENT This Agreement is entered into between the City of Iowa City, a municipal corporation ("City"), and Dotlizhi LLC ("Recipient') on April 16r_l2024 in Iowa City, Iowa. Whereas, the COVID-19 pandemic has had a severe negative economic impact on small businesses in the Iowa City area and elsewhere; and Whereas, City Council allocated $4,000,000 in ARPA funds to Inclusive Economic Development; and Whereas, Recipient has applied for inclusive economic development funds; and Whereas, Recipient proposes to provide entrepreneurial support services to primarily BIPOC entrepreneurs through providing indigenous cultural entrepreneurial workshops, indigenous outreach activities, and grants for businesses; and Now, therefore, the City and Recipient agree as follows: Effective Date and Term. This Agreement shall commence upon execution and remain in effect until December 31, 2026 unless terminated as provided herein. Funds. The City shall provide Recipient a total sum not to exceed $100,000 payable as provided herein. 3. Use of Funds. Recipient shall use the funds for the following activities: Activity #1 Program Coordinator Develop and implement entrepreneurial programming to assist and develop entrepreneurs who wish to pursue businesses focusing on indigenous arts and culture. Program coordinator to. market and gather feedback about entrepreneurial programming, cultural outreach, and grants. All programming and workshops shall be in Iowa City. Activity #2 Contracted Professional Services Recipient shall contract with Indigenous instructors and leaders to lead entrepreneurial cultural workshops and outreach programs. Recipient shall contract with Rubina Martini Freelance to provide program .development, branding, web design, content development and marketing. The City shall approve all contracts for professional services before Recipient executes, and the City will not reimburse for any professional services if the contract has not been pre -approved. Activity #3 Grants to Small Businesses Recipient shall provide technical assistance grants to eligible businesses to assist early stage or small business growth and development. Grants shall be capped at a total of $5,000 per business per fiscal year. To be eligible for a grant, the business must meet the following requirements: a) Be in the corporate limits of Iowa City; or b) If a home-based business: (1) Be in the corporate limits of Iowa City; and (2) Compliant with City's building and zoning codes. Recipient may not provide business grants to: a) Alicia S. Velasquez or an entity owned wholly or in part by Alicia S. Velazquez; b) the spouse of or an immediate family member of Alicia S. Velasquez; or c) any entity owned wholly or in part or employs the spouse or an immediate family member of Alicia S. Velasquez. 4. Budget. 5. Payment. Drawdowns for the payment of eligible expenses shall be made against the budget outlined in paragraph herein entitled "Budget" and in accordance with performance. Payments shall be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. Estimated monthly salary and benefit expense may be paid in advance and reconciled quarterly. All funds must be expended no later than December 31, 2026. 6. Goals and Performance Measures. Activity #1 Program Coordinator and Activity #2 Contracted Professional Services Year 1 Year 2 Year 3 Year 4 Present- 7/1/2024- 7/1/2025- 7/1/2026- 6/30/2024 6/30/2025 6/30/2026 12/31/2026 Total Salary and Benefits: Activity 1: Program Coordinator $1,500 $6,500 $7,000 $5,000 $20,000 Activity 2: Contracted Professional Services $6,000 $15,000 $10,000 $4,000 $35,000 Activity 3: Grants to Eligible Businesses $10,000 $10,000 $201000 Operations: Facilities Cost $1,500 $3,500 $3,500 $1,500 $10,000 Materials/supplies (table, chairs, white board, printer, laptop, desktop, projector, screen, outdoor tent, workshop and outreach materials) $4,000 $5,000 $5,000 $1,000 $15,000 Total $13,000 $40,000 $35,500 $11,500 $100,000 5. Payment. Drawdowns for the payment of eligible expenses shall be made against the budget outlined in paragraph herein entitled "Budget" and in accordance with performance. Payments shall be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. Estimated monthly salary and benefit expense may be paid in advance and reconciled quarterly. All funds must be expended no later than December 31, 2026. 6. Goals and Performance Measures. Activity #1 Program Coordinator and Activity #2 Contracted Professional Services Recipient shall hold eight entrepreneurial cultural workshops by 12/31/2026. Dedicate an average of 5 hours per week or hire a program coordinator averaging 5 hours per week. Recipient shall hold four cultural outreach activities by 12/31/2026. Activity #3 Grants to Small Businesses Recipient shall distribute grants to at least four eligible small businesses by 12/31/2026. The City will monitor the performance of the Recipient against goals and performance standards as stated above. Substandard performance as determined by the City will constitute noncompliance with this Agreement. If action to correct such substandard performance is not taken by the Recipient within thirty days (30) days after being notified in writing by the City, termination procedures may be initiated as provided herein. 7. Procurement. To the extent possible, Recipient shall procure all materials, property, or services in accordance with the requirements of 2 CFR 200.317-326. Recipient may not contract for services with: a) Alicia S. Velasquez or an entity owned wholly or in part by Alicia S. Velazquez; b) the spouse of or an immediate family member of Alicia S. Velasquez; or c) any entity owned wholly or in part or employs the spouse or an immediate family member of Alicia S. Velasquez. 8. Monthly Reporting. Recipient shall provide the ARPA-SLFRF Monthly Report Form, which is incorporated herein as Exhibit A. Such reports shall be delivered to the City not later than the tenth (101) day following the end of each month and shall contain: (1) The status of completion of the overall award, including the goals and performance measures; (2) A narrative update of any progress made on the goals and performance measures during the month; (3) The amount spent on each Activity during the month; (4) A certification that, as of such reporting date and at all times since the previous reporting date (or if none, since the date of the Grant Agreement), recipient is and has been in full compliance with all terms of the Agreement; and (5) Invoice and documentation of expenses for which the recipient is requesting reimbursement, documentation of salary and benefit expenses recipient is reconciling; and (6) Such other items as the City shall reasonably request related to the Agreement. 9. City Recognition. Recipient shall insure recognition of the role of the City in providing funding through this Agreement. 10. Termination. For Cause The City may terminate this Agreement if the Recipient materially fails to comply with any terms of this Agreement, which include, but are not limited to, the following: 1. Failure to comply with any of the rules, regulations or provisions referred to herein, or such statutes, regulations, executive orders, and U.S. Treasury guidelines, policies or directives as may become applicable at any time; 2. Failure, for any reason, of the Recipient to fulfill in a timely and proper manner its obligations under this Agreement; 3. Ineffective or improper use of funds provided under this Agreement; or 4. Submission by the Recipient to the City reports that are incorrect or incomplete in any material respect. Prior to a suspension or termination for the reasons in this paragraph (#4) the Recipient shall have fifteen (15) days following written notice from the City, to cure. The City shall be obligated to make no payment due hereunder if City has notified Recipient, in writing, of its intent to suspend or terminate this Agreement. In the event of termination, Recipient shall repay to the City the full amount of funds that have been disbursed to Recipient under the terms of this Agreement within thirty (30) days of receiving written notice from City of its intent to terminate this Agreement. The failure of City to insist upon strict performance of any of the covenants or conditions of the Agreement, or to exercise any options herein conferred in any one or more instances shall not be construed as a waiver or relinquishment for the future of any such covenant, condition, or option, but the same shall be and remain in full force and effect. For Convenience This Agreement may be terminated upon the mutual agreement of the parties hereto, in which case the City and the Recipient shall agree upon the termination conditions, including the effective date and the disposition of contract amounts. 11. Documentation and Record Keeping. Records To Be Maintained Recipient shall maintain all records required by the Federal regulations, which are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: a. Records providing a full description of each activity undertaken; b. Financial records as required by 2 CFR 200.333-337; and Retention Recipient shall comply with the record retention requirements set forth in 2 CFR Part 200, Part D. Additionally, the Recipient shall retain all financial records, supporting documents, statistical records, and all other records pertinent to the Agreement until January 31, 2030 ("retention period"). Such records include but are not limited to payroll, timekeeping records, invoices, receipts, purchase orders, bank statements, and cancelled checks. Notwithstanding the above, if there is litigation, claims, audits, negotiations or other actions that involve any of the records cited and that have started before the expiration of the retention period, then such records must be retained until completion of the actions and resolution of all issues. 12. Audits & Inspections. Throughout the retention period, all Recipient records with respect to any matters covered by this Agreement shall be made available to the City at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Recipient within 30 days after receipt by the Recipient. Failure of the Recipient to comply with the above audit requirements will constitute a violation of this contract and may result in the withholding of future payments. 13. Notices. All notices required to be given hereunder shall be in writing and deemed given when personally delivered or deposited in the United States mail, postage prepaid, sent certified or registered, addressed as follows: a. If to Recipient, to: Dotlizhi LLC 327 Kirkwood Ave. Iowa City, IA 52240 b. If to the City, to: City Attorney City of Iowa City 410 East Washington Street Iowa City, IA 52240 or to such other address or person as hereafter designated in writing by the applicable party in the manner provided in this paragraph for the giving of notices. 14. Non Discrimination. Recipient shall not permit any of the following terms and practices: A. To discharge from employment or refuse to hire any individual or to discriminate against any individual in terms, conditions, or privileges of employment because of their race, creed, color, national origin, religion, age, sex, marital status, sexual orientation, gender identity, disability, or handicap status. B. Recipient shall not deny to any person its services on the basis of race, creed, color, national original, religion, sex, marital status, sexual orientation, gender identity, disability, or handicap status 15. Third Party Beneficiaryllndeyendent Contractor. The City's sole responsibility hereunder shall be to provide the funds to Recipient in accordance with the terms of this Agreement. Nothing contained in this Agreement, nor any act or omission of the Recipient or the City, shall be construed to create any special duty, relationship, third - party beneficiary, respondent superior, limited or general partnership, joint venture, or any association by reason of the Recipient's involvement with the City, nor shall the City have authority to direct the manner or means by which Recipient conducts activities. 16. Conflict of Interest. Upon signing this Agreement, Recipient acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this Agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5. 17. Indemnification. Each party agrees to release, indemnify and hold the other parties, their officers and employees harmless from and against any and all liabilities, damages, business interruptions, delays, losses, claims, judgments, of any kind whatsoever, including all costs, attorneys' fees, and expenses incidental thereto, which may be suffered by, or charged to, the party by reason of any loss or damage to any property or injury to or death of any person arising out of or by reason of any breach, violation or non-performance by the other parties or their servants, employees or agents of any covenant or condition of this Agreement or by any act or failure to act of those persons. The City shall not be liable for its failure to perform this Agreement or for any loss, injury, damage or delay of any nature whatsoever resulting therefrom caused by any act of God, fire, flood, accident, strike, labor dispute, riot, insurrection, war or any other cause beyond the City's control. 18. Conflict of Laws/Venue/Jurisdiction. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Iowa. Any legal proceeding instituted with respect to this Agreement shall be brought in a court of competent jurisdiction in Johnson County, Iowa. The parties hereto hereby submit to personal jurisdiction therein and irrevocably waive any objection as to venue therein, including any argument that such proceeding has been brought in an inconvenient forum. 19. Amendment. All amendments shall be in writing. 20. Severabilitv. In the event any portion of this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in whole or in part, the remaining provisions shall not be affected thereby and shall continue to be valid and enforceable and if, for any reason, a court finds that any provision of this Agreement is invalid, illegal, or unenforceable as written, but that by limiting such provision it would become valid, legal and enforceable then such provision shall be deemed to be written, construed and enforced as so limited. 21. Successors and Assigns. This Agreement shall be binding upon, and inure to the -benefit of both parties and their respective permitted successors, assigns and other legal representatives. Neither this Agreement nor the rights arising hereunder shall be assignable by either of the parties hereto to any third party without the prior written consent of the other party to this Agreement 22. Captions. The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 23. Entire Agreement/integration. This Agreement constitutes the entire agreement between the City and the Recipient for the use of funds received under this Agreement and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral, or written between the City and the Recipient with respect to this Agreement. 24. Compliance with. Laws In addition to the specific'laws set forth in this Agreement, Recipient shall comply with all federal, state, and local laws. CITY OF IOWA C Geoff Fruin, City Manager Dotlizhi LLC AGrcia VeGa fgaZ7, Alicia Velasquez (Apr 10, 2624 09:57 CDT) Alicia Velasquez, Member 7/ 2 &7 Date 04/10/2024 Date Approved: �� < <6, `,? I City Attorney's Office Dotlizhi Inclusive Econ. Agreement (1) Final Audit Report 2024-04-10 Created: 2024-04-10 By: Sam Turnbull (STurnbull@iowa-city.org) Status: Signed Transaction ID: CBJCHBCAABAAHBJEwUEvKkMeFKnyhVtEUYS711DDh3eo "Dotlizhi Inclusive Econ. Agreement (1)" History Document created by Sam Turnbull (STurnbull@iowa-city.org) 2024-04-10 - 2:19:14 PM GMT Ea* Document emailed to Alicia Velasquez (dotlizhi@outlook.com) for signature 2024-04-10 - 2:19:19 PM GMT Email viewed by Alicia Velasquez (dotlizhi@outlook.com) 2024-04-10 - 2:51:43 PM GMT &0 Document e -signed by Alicia Velasquez (dotlizhi@outlook.com) Signature Date: 2024-04-10 - 2:57:15 PM GMT - Time Source: server Q Agreement completed. 2024-04-10 - 2:57:15 PM GMT 0 Adobe Acrobat Sign Exhibit A To be completed by City: Subrecipient Name: Dotlizhi Project Name: Inclusive Economic Development Project ID Number: Subaward No.: Total Award: $ 100,000 CITY OF IOWA CITY ARPA-SLFRF Monthly Report Form Reporting Month: lick or tap here to enter text. Amount of Costs Incurred (cumulative, to -date): $ Click or tap here to enter text. Amount Expended (cumulative, to -date): $ Click or tap here to enter text. Program Income Earned (cumulative, to -date): $ Click or tap here to enter text. Program Income Expended (cumulative, to -date): $ Click or tap here to enter text. Completion Status: Choose an item. Performance Measure Reporting (cumulative, to -date): # of entrepreneurial cultural workshops held: Click or tap here to enter text. # of cultural outreach activities held: Click or tap here to enter text. # of grants distributed to businesses: Click or tap here to enter text. Subaward Specific Data: 1. Please attach and upload with this form any invoices and/or supporting documentation per the Subrecipient Agreement. Signature Click or tap to enter a date. Date Item Number: 6.b. Executive Summary: As part of the American Rescue Plan Act (ARPA), the City was awarded State and Local Fiscal Recovery (SLFR) funds to respond to the COVID-19 pandemic. This resolution authorizes a grant agreement with Neighborhood Centers of Johnson County to provide financial literacy workshops, entrepreneurial/business plan development workshops, neighborhood black and brown business networking events, coordinating and hosting business plan competitions and award ceremonies, youth entrepreneur boot -camps and coordinating youth attending an entrepreneurship conference. This resolution further authorizes the City Manager to amend the agreement as needed. Background /Analysis: In an effort to advance the recommendations in the Inclusive Economic Development Plan that was completed in November of 2022, the City launched an ARPA-funded inclusive economic development program for underestimated businesses and entrepreneurs located in Iowa City. The purpose of this program was to cultivate a strong entrepreneurial and small business ecosystem for those who have historically been underrepresented and under - resourced within our community. The plan's goals include bolstering organizations that currently support small businesses and entrepreneurs, provide resources to this community and build the infrastructure to create spaces for underestimated businesses to thrive. This agreement funds a part-time Business Development Officer, part-time Youth Program Staff, materials, supplies, subject matter expert stipends, event expenses, incentives and youth scholarships. Neighborhood Centers of Johnson County will hold four financial literacy CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution authorizing the City Manager to sign a grant agreement with Neighborhood Centers of Johnson County for Inclusive Economic Development funds. Prepared By: Sam Turnbull, Grants Specialist Reviewed By: Tracy Hightshoe, Neighborhood and Development Services Director Erika Kubly, Neighborhood Services Coordinator Fiscal Impact: The City has been allocated $18,325,190 in ARPA-SLFR funds of which $4,000,000 has been allocated to Inclusive Economic Development. This agenda item would authorize expenditure of $80,000 of those funds. Staff Recommendation: Approval Commission Recommendations: NA Attachments: Resolution Agreement Executive Summary: As part of the American Rescue Plan Act (ARPA), the City was awarded State and Local Fiscal Recovery (SLFR) funds to respond to the COVID-19 pandemic. This resolution authorizes a grant agreement with Neighborhood Centers of Johnson County to provide financial literacy workshops, entrepreneurial/business plan development workshops, neighborhood black and brown business networking events, coordinating and hosting business plan competitions and award ceremonies, youth entrepreneur boot -camps and coordinating youth attending an entrepreneurship conference. This resolution further authorizes the City Manager to amend the agreement as needed. Background /Analysis: In an effort to advance the recommendations in the Inclusive Economic Development Plan that was completed in November of 2022, the City launched an ARPA-funded inclusive economic development program for underestimated businesses and entrepreneurs located in Iowa City. The purpose of this program was to cultivate a strong entrepreneurial and small business ecosystem for those who have historically been underrepresented and under - resourced within our community. The plan's goals include bolstering organizations that currently support small businesses and entrepreneurs, provide resources to this community and build the infrastructure to create spaces for underestimated businesses to thrive. This agreement funds a part-time Business Development Officer, part-time Youth Program Staff, materials, supplies, subject matter expert stipends, event expenses, incentives and youth scholarships. Neighborhood Centers of Johnson County will hold four financial literacy workshops, six entrepreneurship/business plan development workshops, eight black business networking events, coordinate two business plan competitions with a minimum of four awardees, host two youth entrepreneurship boot -camps and coordinate eight youth attending a youth entrepreneurship conference. Prepared by: Susan Dulek, First Assistant City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030 Resolution No. 24-92 Resolution authorizing the City Manager to sign a grant agreement with Neighborhood Centers of Johnson County for Inclusive Economic Development funds. Whereas, the COVID-19 pandemic has had a severe negative economic impact on small businesses in the Iowa City area and elsewhere; and Whereas, the COVID-19 pandemic has had a significant impact on small business owners and a disproportionate impact on BIPOC small business owners; and Whereas, City Council allocated $4,000,000 in ARPA funds to Inclusive Economic Development; and Whereas, Neighborhood Centers of Johnson County, a non-profit corporation, seeks to provide entrepreneurial support services to primarily BIPOC entrepreneurs; and Whereas, the City desires to provide funds to allow Neighborhood Centers of Johnson County to provide entrepreneurial support services to primarily BIPOC entrepreneurs; and Whereas, the provision of the services as set forth in the attached Recipient Grant Agreement is a public purpose. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: The City Manager is authorized to execute the attached Recipient Grant Agreement and amendments thereto as needed. Passed and approved this 16th day of April, 2024. l Ma Approved by Attest: City Clerk City Attorneo Office (Sue Dulek - 04/09/2024) Resolution No. 24-92 Page 2 It was moved by Moe and seconded by Alter the Resolution be adopted, and upon roll call there were: Ayes: Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague RECIPIENT GRANT AGREEMENT This Agreement is entered into between the City of Iowa City, a municipal corporation ("City"), and Neighborhood Centers of Johnson County ("Recipient') on April 16 2024 in Iowa City, Iowa. Whereas, the COVID-19 pandemic has had a severe negative economic impact on small businesses in the Iowa City area and elsewhere; and Whereas, the COVID-19 pandemic has had a significant impact on small business owners and a disproportionate impact on BIPOC small business owners; and Whereas, City Council allocated $4,000,000 in ARPA funds to Inclusive Economic Development; and Whereas, Recipient has applied for inclusive economic development funds; and Whereas, Recipient proposes to provide business support programs to primarily BIPOC entrepreneurs, including networking events, financial literacy and entrepreneurship workshops, a youth business bootcamp and a business plan competition. Now, therefore, the City and recipient agree as follows: 1. Effective Date and Term. This Agreement shall commence upon execution and remain in effect until December 31, 2026 unless terminated as provided herein. 2. Funds. The City shall provide Recipient a total sum not to exceed $80,000 payable as provided herein. 3. Use of Funds. Recipient shall use the funds for the following activities: Activity #1 Financial Literacy Workshops Recipient shall host financial literacy workshops in partnership with Hills Bank and GreenState Credit Union covering the basics of budgeting, banking, and credit. Activity #2 Entrepreneurship/Business Plan Development Workshops Recipient shall hold workshops on topics including micro enterprise basics, social enterprise basics, small business development, nonprofit business development, youth entrepreneurship basics, and branding and marketing. Activity #3 Neighborhood Black and Brown Business Networking Events Recipient shall host Black Business Networking events to serve as a platform for established entrepreneurs and business owners to connect with new entrepreneurs and youth. Activity #4 Coordinate and Host Business Plan Competitions and Award Ceremonies Recipient shall host business plan competitions where entrepreneurs can submit newly developed business plans to be judged. Winning business plans will receive $2,500 awards (to be invested into their planned business) at an awards ceremony. Activity #5 Summer Youth Entrepreneurship Boot -Camps Recipient shall host Youth Entrepreneurship Boot Camps where youth will meet local entrepreneurs, develop a business plan, and get feedback from a lender on their business plans. Activity #6 Coordinate Iowa City community members participation in a youth entrepreneurship conference Recipient shall coordinate a trip for young entrepreneurs to a youth entrepreneurship conference. 4. Budget. 5. Payment. Drawdowns for the payment of eligible expenses shall be made against the budget outlined in the paragraph herein entitled "Budget" and in accordance with performance. Payments shall be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. All funds must be expended no later than December 31, 2026. Year 1 Year 2 Year 3 7/1/2024- 7/1/2025- 7/1/2026- 6/30/2025 6/30/2026 12/3112026 Total Salaries & Benefits: .25 FTE NCJC Chief $23,725 $24,685 $48,410 Business Development Officer Salaries & Benefits Youth Programs Staff (Summer Youth entrepreneurship $1,064 $1,176 $2,240 prog ram staff Materials & Supplies (Books, $2,175 $2,175. $4,350 Workbooks, Printing) 145 units X $30 Community Partners/Subject Matter $2,000 $4,000 $6,000 Expert Stipends $250 - $750 Networking Events & Business Competition Awards Ceremony (Food, $1,000 $1,000 $1,000 $3,000 Beverages, Venue) 10 occasions X $300 average Incentives and Rewards (Business Plan $5,000 $5,000 $10,000 Competition Awards Travel/ Youth Scholarships, transport, meals, accommodations & registration $5,000 $5,000 fees Marketing $500 $500 $1,000 Total $30,464 $43,536 $6,0001 $80,000 5. Payment. Drawdowns for the payment of eligible expenses shall be made against the budget outlined in the paragraph herein entitled "Budget" and in accordance with performance. Payments shall be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. All funds must be expended no later than December 31, 2026. 6. Goals and Performance Measures. Activity #1 Financial Literacy Workshops • Recipient shall host four Financial Literacy Workshops by 6/30/2026 Activity #2 Entrepreneurship/Business Plan Development Workshops • Recipient shall host six Entrepreneurship/Business Plan Development Workshops by 6/30/2026 Activity #3 Neighborhood Black and Brown Business Networking Events • Recipient shall host eight Black Business Networking events by 6/30/2026 Activity #4 Coordinate and Host Business Plan Competitions and Awards Ceremonies • Recipient shall coordinate and host two Business Plan Competitions by 9/1/2026 with a minimum of 4 Awardees receiving $2,500 each and at least $10,000 distributed. To be eligible for an award, the businesses must meet the following requirements: • Reside in or located in the corporate limits of Iowa City • If a home-based business: a. Be in the corporate limits of Iowa City; b. Compliant with City's building and zoning codes. Activity #5 Summer Youth Entrepreneurship Boot -Camps • Recipient shall host two Youth Entrepreneurship Boot Camps by 9/1/2026 with a minimum of 8 youth per boot camp. Activity #6 Coordinate Iowa City community members participation in a youth entrepreneurship conference • Recipient will coordinate and facilitate participation of 8 youth in a youth entrepreneurship conference by 9/1/2026. The City will monitor the performance of the Recipient against goals and performance standards as stated above. Substandard performance as determined by the City will constitute noncompliance with this Agreement. If action to correct. such substandard performance is not taken by the recipient within thirty days (30) days after being notified in writing by the City, termination procedures may be initiated as provided herein. 7. Procurement. To the extent possible, Recipient shall procure all materials, property, or services in accordance with the requirements of 2 CFR 200.317-326. 8. Quarterly Reporting. Recipient shall provide the ARPA-SLFRF Quarterly Report Form, which is incorporated herein as Exhibit A. Such reports shall be delivered to the City not later than the tenth (10"') day following the end of each quarter and shall contain: c. The status of completion of the overall award, including the goals and performance measures; d. A narrative update of any progress made on the goals and performance measures during the month; e. The amount spent on each Activity during the month; f. A certification that, as of such reporting date and at all times since the previous reporting date (or if none, since the date of the Grant Agreement), Recipient is and has been in full compliance with all terms of the Agreement; and g. Invoice and documentation of expenses for which the Recipient is requesting reimbursement and documentation of salary and benefit expenses recipient is reconciling; and h. Such other items as the City shall reasonably request related to the Agreement. 9. City Recognition. Recipient shall insure recognition of the role of the City in providing funding through this Agreement. 10. Termination. For Cause The City may terminate this Agreement if the Recipient materially fails to comply with any terms of this Agreement, which include, but are not limited to, the following: 1. Failure to comply with any of the rules, regulations or provisions referred to herein, or such statutes, regulations, executive orders, and U.S. Treasury guidelines, policies or directives as may become applicable at any time; 2. Failure, for any reason, of the Recipient to fulfill in a timely and proper manner its obligations under this Agreement; 3. Ineffective or improper use of funds provided under this Agreement; or 4. Submission by the Recipient to the City reports that are incorrect or incomplete in any material respect. Prior to a suspension or termination for the reasons in this paragraph (#4) the Recipient shall have fifteen (15) days following written notice from the City, to cure. The City shall be obligated to make no payment due hereunder if City has notified . Recipient, in writing, of its intent to suspend or terminate this Agreement. In the event of termination, Recipient shall repay to the City the full amount of funds that have been disbursed to Recipient under the terms of this Agreement within thirty (30) days of receiving written notice from City of its intent to terminate this Agreement. The failure of City to insist upon strict performance of any of the covenants or conditions of the Agreement, or to exercise any options herein conferred in any one or more instances shall not be construed as a waiver or relinquishment for the future of any such covenant, condition, or option, but the same shall be and remain in full force and effect. For Convenience This Agreement may be terminated upon the mutual agreement of the parties hereto, in which case the City and the Recipient shall agree upon the termination conditions, including the effective date and the disposition of contract amounts. 11. Documentation and Record Keeping. Records To Be Maintained Recipient shall maintain all records required by the Federal regulations, which are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: a. Records providing a,full description of each activity undertaken; b. Financial records as required by 2 CFR 200.333-337; and Retention Recipient shall comply with the record retention requirements set forth in 2 CFR Part 200, Part D. Additionally, the Recipient shall retain all financial records, supporting documents; statistical records, and all other records pertinent to the Agreement until January 31, 2030 ("retention period"). Such records include but are not limited to payroll, timekeeping records, invoices, receipts, purchase orders, bank statements, and cancelled checks. Notwithstanding the above, if there is litigation, claims, audits, negotiations, or other actions that involve any of the records cited and that have started before the expiration of the retention period, then such records must be retained until completion of the actions and resolution of all issues. 12. Audits & Inspections. Throughout the retention period, all Recipient records with respect to any matters covered by .this Agreement shall be made available to the City at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Recipient within 30 days after receipt by the Recipient. Failure of the Recipient to comply with the above audit requirements will constitute a violation of this contract and may result in the withholding of future payments. The Recipient hereby agrees to have an annual agency audit conducted in accordance with 2 CFR Part 200, Subpart F for the funded years 2024 and 2025 and to provide the City with a copy within thirty (30) days of receipt. 13. Notices. All notices required to be given hereunder shall be in writing and deemed given when personally delivered or deposited in the United States mail, postage prepaid, sent certified or registered, addressed as follows: a. If to Recipient, to: Executive Director Neighborhood Centers of Johnson County PO Box 2491 Iowa City, IA 52244 b. If to the City, to: City Attorney City of Iowa City 410 East Washington Street Iowa City, IA 52240 or to such other address or person as hereafter designated in writing by the applicable party in. the manner provided in this paragraph for the giving of notices 14. Non -Discrimination. Recipient shall not permit any of the following terms and practices: A.. To discharge from employment or refuse to hire any individual or to discriminate against any individual in terms, conditions, or privileges of employment because of their race, creed, color, national origin, religion, age, sex, marital status, sexual orientation, gender identity, disability, or handicap status. B. Recipient shall not deny to any person its services on the basis of race, creed, color, national original, religion, sex, marital status, sexual orientation, gender identity, disability, or handicap status 15. Third Party Beneficiary/Independent Contractor. The City's sole responsibility hereunder shall be to provide the funds to Recipient in accordance with the terms of this Agreement. Nothing contained in this Agreement, nor any act or omission of the Recipient or the City, shall be construed to create any special duty, relationship, third - party beneficiary, respondent superior, limited or general partnership, joint venture, or any association by reason of the Recipient's involvement with the City, nor shall the City have authority to direct the manner or means by which Recipient conducts activities, 16. Conflict of Interest. Upon signing this Agreement, Recipient acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this Agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5. 17. Indemnification. Each party agrees to release, indemnify and hold the other parties, their officers and employees harmless from and against any and all liabilities, damages, business interruptions, delays, losses, claims, judgments, of any kind whatsoever, including all costs, attorneys' fees, and expenses incidental thereto, which may be suffered by, or charged to, the parry by reason of any loss or damage to any property or injury to or death of any person arising out of or by reason of any breach, violation or non-performance by the other parties or their servants, employees or agents of any covenant or condition of this Agreement or by any act or failure to act of those persons. The City shall not be liable for its failure to perform this Agreement or for any loss, injury, damage or delay of any nature whatsoever resulting therefrom caused by any act of God, fire, flood, accident, strike, labor dispute, riot, insurrection, war or any other cause beyond the City's control. 18.. Conflict of Laws/Venue/Jurisdiction. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Iowa. Any legal proceeding instituted with respect to this Agreement shall. be brought in a court of competent jurisdiction in Johnson County, Iowa. The parties hereto hereby submit to personal jurisdiction therein and irrevocably waive any objection as to venue therein, including any argument that such proceeding has been brought in an inconvenient forum. 19. Amendment. All amendments shall be in writing. 20. Severability. In the event any portion of this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in whole or in part, the remaining provisions shall not be affected thereby and shall continue to be valid and enforceable and if, for any reason, a court finds that any provision of this Agreement is invalid, illegal, or unenforceable as written, but that by limiting such provision it would become valid, legal and enforceable then such provision shall be deemed to be written, construed and enforced as so limited. 21. Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of both parties and their respective permitted successors, assigns and other legal representatives. Neither this Agreement nor the rights arising hereunder shall be assignable by either of the parties hereto to any third party without the prior written consent of the other party to this Agreement 22. Captions. The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 23. Entire Agreement/Integration. This Agreement constitutes the entire agreement between the City and the Recipient for the use of funds received under this Agreement and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral, or written between the City and the Recipient with respect to this Agreement. 24. Compliance with Laws In addition to the specific laws set forth in this Agreement, Recipient shall comply with all federal, state, and local laws. CITY OF IOWA CITY Geoff Fr in, City Manager Date NEIGHBORHOOD CENTERS OF JOHNSON COUNTY Rachel Rockwell, Executive Director 04/08/2024 Date Approved: City Attorney's Office s NCJC Inclusive Econ Final Audit Report Agreement -Updated 2024-04-08 Created: 2024-04-08 By: Sam Turnbull (STurnbull@iowa-city.org) Status: Signed Transaction ID: CBJCHBCAABAAYgy9ot811oFlPyG197Mkr9EY31JJMWy6 11NCJC Inclusive Econ. Agreement -Updated" History Document created by Sam Turnbull (STurnbull@iowa-city.org) 2024-04-08 - 4:22:44 PM GMT Ga4 Document emailed to Rachel Rockwell (rachel-rockwell@ncjc.org) for signature 2024-04-08 - 4:22:59 PM GMT Email viewed by Rachel Rockwell (rachel-rockwell@ncjc.org) 2024-04-08 - 5:34:53 PM GMT &0 Document e -signed by Rachel Rockwell (rachel-rockwell@ncjc.org) Signature Date: 2024-04-08 - 5:36:19 PM GMT - Time Source: server Q Agreement completed. 2024-04-08 - 5:36:19 PM GMT 0 Adobe Acrobat Sign Item Number: 6.c. Executive Summary: As part of the American Rescue Plan Act (ARPA), the City was awarded State and Local Fiscal Recovery (SLFR) funds to respond to the COVID-19 pandemic. This resolution authorizes a grant agreement with Tailored Tax and Accounting LLC for $100,000 to provide financial education services including tax preparation, accounting, financial business planning, bookkeeping payroll services and credit repair. This resolution further authorizes the City Manager to amend the agreement as needed. Background /Analysis: In an effort to advance the recommendations in the Inclusive Economic Development Plan that was completed in November of 2022, the City launched an ARPA-funded inclusive economic development program for underestimated businesses and entrepreneurs located in Iowa City. The purpose of this program was to cultivate a strong entrepreneurial and small business ecosystem for those who have historically been underrepresented and under - resourced within our community. The plan's goals include bolstering organizations that currently support small businesses and entrepreneurs, provide resources to this community and build the infrastructure to create spaces for underestimated businesses to thrive. This agreement funds part-time Program Coordinators, a portion of the Owner's time, and financial education services. With these funds, Tailored Tax and Accounting LLC. will annually hold three business financial planning classes, three financial literacy workshops, three group credit repair sessions and 20 businesses will receive no cost financial services such as tax preparation, accounting, and financial business planning. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution authorizing the City Manager to sign a grant agreement with Tailored Tax and Accounting LLC for Inclusive Economic Development funds. Prepared By: Sam Turnbull, Grants Specialist Reviewed By: Tracy Hightshoe, Neighborhood and Development Services Director Erika Kubly, Neighborhood Services Coordinator Fiscal Impact: The City has been allocated $18,325,190 in ARPA-SLFR funds of which $4,000,000 has been allocated to Inclusive Economic Development. This agenda item would authorize expenditure of $100,000 of those funds. Staff Recommendation: Approval Commission Recommendations: NA Attachments: Resolution Agreement Executive Summary: As part of the American Rescue Plan Act (ARPA), the City was awarded State and Local Fiscal Recovery (SLFR) funds to respond to the COVID-19 pandemic. This resolution authorizes a grant agreement with Tailored Tax and Accounting LLC for $100,000 to provide financial education services including tax preparation, accounting, financial business planning, bookkeeping payroll services and credit repair. This resolution further authorizes the City Manager to amend the agreement as needed. Background /Analysis: In an effort to advance the recommendations in the Inclusive Economic Development Plan that was completed in November of 2022, the City launched an ARPA-funded inclusive economic development program for underestimated businesses and entrepreneurs located in Iowa City. The purpose of this program was to cultivate a strong entrepreneurial and small business ecosystem for those who have historically been underrepresented and under - resourced within our community. The plan's goals include bolstering organizations that currently support small businesses and entrepreneurs, provide resources to this community and build the infrastructure to create spaces for underestimated businesses to thrive. This agreement funds part-time Program Coordinators, a portion of the Owner's time, and financial education services. With these funds, Tailored Tax and Accounting LLC. will annually hold three business financial planning classes, three financial literacy workshops, three group credit repair sessions and 20 businesses will receive no cost financial services such as tax preparation, accounting, and financial business planning. la' C Prepared by: Susan Dulek, Frist Assistant City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030 Resolution No. 24-93 Resolution authorizing the City Manager to sign a grant agreement with Tailored Tax and Accounting LLC for Inclusive Economic Development funds. Whereas, the COVID-19 pandemic has had a severe negative economic impact on small businesses in the Iowa City area and elsewhere; and Whereas, the COVID-19 pandemic has had a significant impact on small business owners and a disproportionate impact on BIPOC small business owners; and Whereas, City Council allocated $4,000,000 in ARPA funds to Inclusive Economic Development; and Whereas, Tailored Tax and Accounting LLC, a for-profit business, seeks to provide entrepreneurial support services to primarily BIPOC entrepreneurs; and Whereas, the City desires to provide funds to allow Tailored Tax and Accounting LLC to provide entrepreneurial support services to primarily BIPOC entrepreneurs; and Whereas, the provision of the services as set forth in the attached Recipient Grant Agreement is a public purpose. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: The City Manager is authorized to execute the attached Recipient Grant Agreement and amendments thereto as needed. Passed and approved this 16th day of April, 2024. Ma Approved by Attest: -\V_q City Clerk City Attorney's Ice 04/11/2024 Resolution No. 24-93 Page 2 It was moved by Moe and seconded by adopted, and upon roll call there were: Ayes: Nays: ter Absent: Alter Bergus Dunn Harmsen Moe Salih Teague the Resolution be RECIPIENT GRANT AGREEMENT This Agreement is entered into between the City of Iowa City, a municipal corporation ("City"), and Tailored Tax & Accounting LLC ("Recipient") on April 1_, 2024 in Iowa City, Iowa. Whereas, the COVID-19 pandemic has had a severe negative economic impact on small businesses in the Iowa City area and elsewhere; and Whereas, City Council allocated $4,000,000 in ARPA funds to Inclusive Economic Development; and Whereas, Recipient has applied for inclusive economic development funds; and Whereas, Recipient proposes to provide entrepreneurial support services to primarily BIPOC entrepreneurs, including establishing a Financial Business Support Network (FBSN) -a resource for financial planning and management advice, tax and accounting services, educational resources and training, and regulatory guidance and compliance and will offer tax preparation, accounting, financial business planning, bookkeeping, workshops and credit repair; and Now, therefore, the City and Recipient agree as follows: 1. Effective Date and Term. This Agreement shall commence upon execution and remain in effect until December 31, 2026 unless terminated as provided herein. 2. Funds. The City shall provide Recipient a total sum not to exceed $100,000 payable as provided herein. 3. Use of Funds. Recipient shall use the funds for the following activities: Activity #1 Owner Develop a Financial Business Support Network and financial services and education for primarily BIPOC businesses. Activity #2 Project Coordinators Recipient shall hire .5 FTE Project Coordinators to be responsible for ensuring the schedule, budget and the details of all financial education services. In addition, they shall organize, report, plan meetings, keep all stakeholders informed, and provide updates to Aminata Taylor (Owner) for all programming under this Agreement. Activity #3 Financial Education Services Recipient shall provide financing education services, including but not limited to, tax preparation, accounting, financial business planning, bookkeeping, payroll services and credit repair through workshops, training materials, and professional contracted services and consultants. Workshops and trainings shall be located in Iowa City. To be eligible for free financial services the business must meet the following requirements: a) Located in the corporate limits of Iowa City; b) If a home-based business: 1. Be in the corporate limits of Iowa City and 2. Compliant with City's building and zoning codes; c) Have fewer than 25 employees; and d) Have an annual revenue of less than 1 million dollars. 4. Budget. 5. Payment. Drawdowns for the payment of eligible expenses shall be made against the budget outlined in paragraph herein entitled "Budget" and in accordance with performance. Payments shall be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. Estimated monthly salary and benefit expense may be paid in advance and reconciled every quarter. All funds must be expended no later than December 31, 2026. Goals and Performance Measures. Activity #1 Dedicate on average six hours per week to the development of a Financial Business Support Network and financial services and education for primarily BIPOC businesses. Activity #2 Hire .5 FTE Project Coordinators by 6/30/2024. Activity #3 Year 1 Year 2 Year 3 Present- 7/1/2024- 7/1/2025- 06/30/2024 06/30/2025 06/30/2026 Total Salaries and Benefits Activity 1: Owner $5,000 $10,000 $5,000 $20,000 Salary and Benefits Activity 2: Project Coordinators $5,000 $20,000 $10000 $35,000 Activity 3: Financial Education Services (training materials, technology, software, marketing, professional contracted services) $3,333 $20,000 $11,667 $35,000 Operations: Including, but not limited to rent, utilities, supplies and related items. $3,000 $3,333 $3,667 $10,000 Total $16,333-7 $53,333 $30,334 $100,000 5. Payment. Drawdowns for the payment of eligible expenses shall be made against the budget outlined in paragraph herein entitled "Budget" and in accordance with performance. Payments shall be made for eligible expenses actually incurred by the Recipient, and not to exceed actual cash requirements. Estimated monthly salary and benefit expense may be paid in advance and reconciled every quarter. All funds must be expended no later than December 31, 2026. Goals and Performance Measures. Activity #1 Dedicate on average six hours per week to the development of a Financial Business Support Network and financial services and education for primarily BIPOC businesses. Activity #2 Hire .5 FTE Project Coordinators by 6/30/2024. Activity #3 • Recipient shall complete nine business financial planning classes by 12/31/2026. • Recipient shall complete nine financial literacy workshops by 12/31/2026. • Recipient shall complete nine group credit repair sessions by 12/31/2026. • 20 businesses will receive no cost financial services such as tax preparation, accounting, financial business planning via the Financial Business Support Network. If Recipient provides no cost financial services to any of the following, said services shall not count toward the minimum 20 business requirement: a) Aminata Taylor or an entity owned wholly or in part by Aminata Taylor; b) the spouse of or an immediate family member of Aminata Taylor; or c) any entity owned wholly or in part or employs the spouse or an immediate family member of Aminata Taylor. The City will monitor the performance of the Recipient against goals and performance standards as stated above. Substandard performance as determined by the City will constitute noncompliance with this Agreement. If action to correct such substandard performance is not taken by the Recipient within thirty days (30) days after being notified in writing by the -City, termination procedures may be initiated as provided herein. 7. Procurement. To the extent possible, Recipient shall procure all materials, property, or services in accordance with the requirements of 2 CFR 200.317-326. Recipient may not contract for services with: a) Aminata Taylor or an entity owned wholly or in part by Aminata Taylor; b) the spouse of or an immediate family member of Aminata Taylor; or c) any entity owned wholly or in part or employs the spouse or an immediate family member of Aminata Taylor. 8. Quarterly Reporting. Recipient shall provide the ARPA-SLFRF Quarterly Report Form, which is incorporated herein as Exhibit A. Such reports shall be delivered to the City not later than the tenth (10th) day following the end of each quarter and shall contain: a. The status of completion of the overall award, including the goals and performance measures; b. A narrative update of any progress made on the goals and performance measures during the month; c. The amount spent on each Activity during the quarter, including what businesses were assisted with what type of service. d. A certification that, as of such reporting date and at all times since the previous reporting date (or if none, since the date of the Grant Agreement), Recipient is and has been in full compliance with all terms of the Agreement; and e. Invoice and documentation of expenses for which the Recipient is requesting reimbursement; and f. Such other items as the. City shall reasonably request related to the Agreement. 9. City Recognition. Recipient shall insure recognition of the role of the City in providing funding through this Agreement. 10. Termination. For_CausP The City may terminate this Agreement if the Recipient materially fails to comply with any terms of this Agreement, which include, but are not limited to, the following: 1. Failure to comply with any of the rules, regulations or provisions referred to herein, or such statutes, regulations, executive orders, and U.S. Treasury guidelines, policies or directives as may become applicable at any time; 2. Failure, for any reason, of the Recipient to fulfill in a timely and proper manner its obligations under this Agreement; 3. Ineffective or improper use of funds provided under this Agreement; or 4. Submission by the Recipient to the City reports that are incorrect or incomplete in any material respect. Prior to a suspension or termination for the reasons in this paragraph (#4) the Recipient shall have fifteen (15) days following written notice from the City, to cure. The City shall be obligated to make no payment due hereunder if City has notified Recipient, in writing, of its intent to suspend or terminate this Agreement. In the event of termination, Recipient shall repay to the City the full amount of funds that have been disbursed to Recipient under the terms of this Agreement within thirty (30) days of receiving written notice from City of its intent to terminate this Agreement. The failure of City to insist upon strict performance of any of the covenants or conditions of the Agreement, or to exercise any options herein conferred in any one or more instances shall not be construed as a waiver or relinquishment for the future of any such covenant, condition, or option, but the same shall be and remain in full force and effect. For Convenience This Agreement may be terminated upon the mutual agreement of the parties hereto, in which case the City and the Recipient shall agree upon the termination conditions, including the effective date and the disposition of contract amounts. 11. Documentation and Record Keeping. Records To Be Maintained Recipient shall maintain all records required by the Federal regulations, which are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: a. Records providing a full description of each activity undertaken; b. Financial records as required by 2 CFR 200.333-337; and Retention Recipient shall comply with the record retention requirements set forth in 2 CFR Part 200, Part D. Additionally, the Recipient shall retain all financial records, supporting documents, statistical records, and all other records pertinent to the Agreement until January 31, 2030 ("retention period"). Such records include but are not limited to payroll, timekeeping records, invoices, receipts, purchase orders, bank statements, and cancelled checks. Notwithstanding the above, if there is litigation, claims, audits, negotiations or other actions that involve any of the records cited and that have started before the expiration of the retention period, then such records must be retained until completion of the actions and resolution of all issues. 12. Audits & Inspections. Throughout the retention period, all Recipient records with respect to any matters covered by this Agreement shall be made available to the City at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Any deficiencies noted in audit reports must be fully cleared by the Recipient within 30 days after receipt by the Recipient. Failure of the Recipient to comply with the above audit requirements will constitute a violation of this contract and may result in the withholding of future payments. 13. Notices. All notices required to be given hereunder shall be in writing and deemed given when personally delivered or deposited in the United States mail, postage prepaid, sent certified or registered, addressed as follows: a. If to Recipient, to: Owner 136 E Dubuque St. Iowa City, IA 52240 b. If to the City, to: City Attorney City of Iowa City 410 East Washington Street Iowa City, IA 52240 or to such other address or person as hereafter designated in writing by the applicable party in the manner provided in this paragraph for the giving of notices 14. Non Discrimination. . Recipient shall not permit any of the following terms and practices: A. To discharge from employment or refuse to hire any individual or to discriminate against any individual in terms, conditions, or privileges of employment because of their race, creed, color, national origin, religion, age, sex, marital status, sexual orientation, gender identity, disability, or handicap status. B. Recipient shall not deny to any person its services on the basis of race, creed, color, national original, religion, sex, marital status, sexual orientation, gender identity, disability, or handicap status 15. Third Party Beneficiary/Independent Contractor. The City's sole responsibility hereunder shall be to provide the funds to Recipient in accordance with the terms of this Agreement. Nothing contained in this Agreement, nor any act or omission of the Recipient or the City, shall be construed to create any special duty, relationship, third - party beneficiary, respondent superior, limited or general partnership, joint venture, or any association by reason of the Recipient's involvement with the City, nor shall the City have authority to direct the manner or means by which Recipient conducts activities. 16. Conflict of Interest. Upon signing this Agreement, Recipient acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this Agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5. 17. Indemnification. Each party agrees to release, indemnify and hold the other parties, their officers and employees harmless from and against any and all liabilities, damages, business interruptions, delays, losses, claims, judgments, of any kind whatsoever, including all costs, attorneys' fees, and expenses incidental thereto, which may be suffered by, or charged to, the party by reason of any loss or damage to any property or injury to or death of any person arising out of or by reason of any breach, violation or non-performance by the other parties or their servants, employees or agents of any covenant or condition of this Agreement or by any act or failure to act of those persons. The City shall not be liable for its failure to perform this Agreement or for any loss, injury, damage or delay of any nature whatsoever resulting therefrom caused by any act of God, fire, flood, accident, strike, labor dispute, riot, insurrection, war or any other cause beyond the City's control 18. Conflict of LawsNenue/Jurisdiction. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Iowa. Any legal proceeding instituted with respect to this Agreement shall be brought in a court of competent jurisdiction in Johnson County, Iowa. The parties hereto hereby submit to personal jurisdiction therein and irrevocably waive any objection as to venue therein, including any argument that such proceeding has been brought in an inconvenient forum. 19. Amendment. All amendments shall be in writing 20. Severability In the event any portion of this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in whole or in part, the remaining provisions shall not be affected thereby and shall continue to be valid and enforceable and if, for any reason, a court finds that any provision of this Agreement is invalid, illegal, or unenforceable as written, but that by limiting such provision it would become valid, legal and enforceable then such provision shall be deemed to be written, construed and enforced as so limited. 21. Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of both parties and their respective permitted successors, assigns and other legal representatives. Neither this Agreement nor the rights arising Hereunder shall be assignable by either of the parties hereto to any third party without the prior written consent of the other party to this Agreement. Notwithstanding any other provision, the City consents to the acquisition of this Agreement by Taylor CPAs and Advisors PLLC on or about 1/1/25. 22. Captions. The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 23. Entire Agreement/Intepration. This Agreement constitutes the entire agreement between the City and the Recipient for the use of funds received under this Agreement and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral, or written between the City and the Recipient with respect to this Agreement. 24. Compliance with Laws In addition to the specific laws set forth in this Agreement, Recipient shall comply with all federal, state, and local laws. CITY OF IOWA CITY r Geoff Fruin, City Manager TAILORED TAX & ACCOUNTING LLC .<Y l'HL�LC�f2L�Qc/GB2 Aminata Taylor, Member Date 04/11/2024_ Date Approved: d City Attorney's Office Tailored Taxa Inclusive Econ. Agreement Final Audit Report 2024-04-11 Created: 2024-04-11 By: Sam Turnbull (STumbull@iowa-city.org) Status: Signed Transaction ID: CBJCHBCAABAARbdVoPMAkQje6hjSxB4d0YCRQ4QaIFwM "Tailored Tax. Inclusive Econ. Agreement" History Document created by Sam Turnbull (STurnbull@iowa-city.org) 2024-04-11 - 2:11:01 PM GMT Document emailed to Aminata Taylor (contact@tailoredtaxandaccounting.org) for signature 2024-04-11 - 2:11:05 PM GMT Email viewed by Aminata Taylor (contact@tailoredtaxandaccounting.org) 2024-04-11 - 9:48:44 PM GMT d� Document e -signed by Aminata Taylor (contact@tailoredtaxandaccounting.org) Signature Date: 2024-04-11 - 9:48:59 PM GMT - Time Source: server Agreement completed. 2024-04-11 - 9:48:59 PM GMT RAZ Adobe Acrobat Sign Exhibit A To be completed by City: Subrecipient Name: Tailored Tax Project Name: Inclusive Economic Development Project ID Number: Subaward No.: Total Award: $ 100,000 CITY OF IOWA CITY ARPA-SLFRF Quarterly Report Form Reporting Period (select one): ❑ Jan -Mar (Q1) ❑ Apr -June (Q2) ❑ July -Sept (Q3) Amount of Costs Incurred (cumulative, to -date): $ Click or tap here to enter text. Amount Expended (cumulative, to -date): $ Click or tap here to enter text. Program Income Earned (cumulative, to -date): $ Click or tap here to enter text. Program Income Expended (cumulative, to -date): $ Click or tap here to enter text. Completion Status: Choose an item. Performance Measure Reporting (cumulative, to -date): # of business financial planning classes held: Click or tap here to enter text. # of financial literacy workshops held: Click or tap here to enter text. # of group credit repair sessions held: Click or tap here to enter text. # of businesses receiving no cost financial services: Click or tap here to enter text. Subaward Specific Data: ❑ Oct -Dec (Q4) 1. Please attach and upload with this form any invoices and/or supporting documentation per the Subrecipient Agreement. Signature Click or tap to enter a date. Date Item Number: 6.d. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution Amending and Adopting FY2024 Interfund Transfers. Prepared By: Nicole Davies, Finance Director Reviewed By: Geoff Fruin, City Manager Fiscal Impact: Adopted as part of the FY2024 Amended Budget Staff Recommendation: Approval Commission Recommendations: N/A Attachments: FY24 Amended Transfer Resolution.docx Executive Summary: The Iowa Department of Management has administrative rules regarding the handling of interfund transfers. All interfund transfers are required to be adopted by resolution by the City Council. The proposed interfund transfers are also being adopted as part of the Fiscal Year 2024 Amended Budget. Background /Analysis: In April 2019, the Iowa Administrative Code incorporated regulations surrounding the management of interfund transfers. In addition to being adopted as part of the budget, which is subject to a public hearing, interfund transfers are required to be approved by the City Council by resolution. Each transfer must include the fund sending the transfer, the fund receiving the transfer, the amount of the transfer, and the reason for the transfer. These rules took effect in May 2019. Prepared by: Nicole Davies, Finance Director, 410 E. Washington St., Iowa City, IA 52240, (319)356-5085 Resolution No. 24-94 Resolution Amending and Adopting FY2O24 Interfund Transfers Now therefore, be it resolved by the City Council of the City of Iowa City, Iowa that the City of Iowa City, in Johnson County, Iowa, approves the following transfer of monies between funds in accordance with the. Administrative Code of the State of Iowa. The City Finance Director is hereby authorized to initiate and record the listed interfund transfers up to the amounts set out below. Transfer Out General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund Facility Reserve Road Use Tax Fund Road Use Tax Fund Road Use Tax Fund Road Use Tax Fund Employee' Benefits Employee Benefits Other Shared Revenue Other Shared Revenue Other Shared Revenue Emergency Levy Fund Tax Increment Financing Tax Increment Financing Tax Increment Financing Parking Fund Parking Fund Parking Capital Reserve Transit Fund Transit Fund Transit Bus Reserve Wastewater Fund Wastewater Fund Wastewater Capital Reserve Water Fund Water Fund Water Capital Reserve Refuse Fund Landfill Fund Landfill Fund Landfill Replacement Reserve_ Airport Capital Reserve Storm Water Fund Storm Water Capital Reserve Housing Authority Fund Transfer In Cable TV Equipment Reserve Wastewater Fund Water Fund Refuse Collection Fund Storm Water Fund Capital Projects Airport Fund MPOJC Fund Affordable Housing Fund Library Replacement Reserve Debt Service Fund Transit Fund TIF Fund Landfill Fund Capital Projects Capital Projects Landfill Fund General Fund MPOJC Fund General Fund Road Use Tax Fund General Fund Multiple Funds Water Fund Capital Projects General Fund Capital Projects Debt Service Landfill Fund Parking Capital Reserve Capital Projects Transit Bus Reserve Capital Projects Capital Projects Wastewater Debt Reserve Wastewater Capital Reserve Wastewater Capital Projects Water Debt Reserve Water Capital Reserve Water Capital Projects Capital Projects Landfill Reserves Capital Projects Landfill Capital Projects Capital Projects Storm Water Capital Reserve Storm Water Capital Projects General Fund Reason Equipment Reserve Low Income Discount Donations Low Income Discount Donations Low Income Discount Donations Low Income Discount Donations CIP funding CIP funding Operating funding Operating Funding Equipment Reserve Aniston Village Loan Pmt Transit Levy Transfer Hilton Garden Inn Rebate Transfer Loan Repayment CIP funding CIP funding Loan Repayment Forestry Cost Share Cost share Employee benefits Employee benefits ARPA Revenue Replacement Retention bonus Lead Service Line Reduction CIP funding Loan Repayment TIF pre -certification expenditures Debt payments Loan Repayment Reserve Transfer CIP funding Reserve Transfer CIP funding CIP funding Debt payments Reserve Transfer CIP funding Debt payments Reserve Transfer CIP funding CIP funding Closure/Replacement funding CIP funding CIP funding CIP funding Reserve Transfer CIP funding PILOT/NDS Director cost share Original Amount $10,000.00 $2,875.00 $2,500.00 $8,125.00 $1,500.00 $1,598,470.00 $100,000.00 $72,680.00 $1,000,000.00 $62,422.00 $20,052.00 $4,221,512.00 $259,100.00 $115,178.00 $1,500,000.00 $2,765,000.00 $76,786.00 $95,816.00 $341,973.Q0 $13,192,818.00 $665,184.00 $0.00 $0.00 $0.00 $350,000.00 $42,869.00 $1,046.00 $1,688,012.00 $378,595.00 $1,000,000.00 $1,000,000.00 $1,000,000.00 $325,000.00 $0.00 $2,575,000.00 $3,500,000.00 $2,455,000.00 $1,364,675.00 $1,800,000.00 $3,944,000.00 $250,000.00 $875,000.00 $527,750.00 $3,500,000.00 $47,000.00 $1,100,000.00 $990,000.00 $54,791.00 I Amended Amount $10,000.00 $2,875.00 $2,500.00 $8,125.00 $1,500.00 $1,598,470.00 $100,000.00 $97,680.00 $1,000,000.00 $62,422.00 $20,052.00 $4,221,512.00 $259,100.00 $115,178.00 $2,500,000.00 $3,245,000.00 $76,786.00 $95,816.00 $341,973.00 $13,192,818.00 $665,184.00 $10,000,000.00 $1,136,000.00 $500,000.00 $350,000.00 $42,869.00 $1,046.00 $1,688,012.00 $378,595.00 $1,000,000.00 $1,020,000.00 $1,000,000.00 $475,000.00 $6,035,000.00 $2,575,000.00 $3,500,000.00 $3,600,000.00 $1,364,675.00 $1,800,000.00 $3,944,000.00 $250,000.00 $875,000.00 $650,000.00 $4,250,000.00 $108,000.00 $1,100,000.00 $995,000.00 $54,791.00 Resolution No. 24-94 Page 2 Passed and approved this 16th day of April 2024 l Ma r: Approved by Attest: 147 City Clerk Ci ttorney's Office — 04/10/2024 It was moved by Moe and upon roll call there were: Ayes: and seconded by Alter Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague the Resolution be adopted, Item Number: 6.e. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution Adopting FY2025 Interfund Transfers. Prepared By: Nicole Davies, Finance Director Reviewed By: Geoff Fruin, City Manager Fiscal Impact: Noted on attached schedule Staff Recommendation: Approval Commission Recommendations: N/A Attachments: FY25 Interfund Transfer Resolution.docx Executive Summary: The Iowa Department of Management has administrative rules regarding the handling of interfund transfers. All interfund transfers are required to be adopted by resolution by the City Council. Background /Analysis: In April 2019, the Iowa Administrative Code incorporated regulations surrounding the management of interfund transfers. In addition to being adopted as part of the budget, which is subject to a public hearing, interfund transfers are required to be approved by the City Council by resolution. Each transfer must include the fund sending the transfer, the fund receiving the transfer, the amount of the transfer, and the reason for the transfer. These rules took effect in May 2019. Prepared by: Nicole Davies, Finance Director, 410 E. Washington St., Iowa City, IA 52240, (319)356-5085 Resolution No. 24-95 Resolution Adopting FY2025 Interfund Transfers Now therefore, be it resolved by the City Council of the City of Iowa City, Iowa that the City of Iowa City, in Johnson County, Iowa, approves the following transfer of monies between funds in accordance with the Administrative Code of the State of Iowa. The City Finance Director is herby authorized to initiate and record the listed inter -fund transfers up to the amounts set out below. Transfer Out General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund Facility Reserve Road Use Tax Fund Road Use Tax Fund Road Use Tax Fund Road Use Tax Fund Employee Benefits Employee Benefits Tax Increment Financing Tax Increment Financing Parking Fund Parking Fund Parking Capital Reserve Transit Fund Transit Fund Wastewater Fund Wastewater Fund Wastewater Capital Reserve Water Fund Water Fund Water Capital Reserve Refuse Fund Landfill Fund Landfill Fund Airport Capital Reserve Storm Water Fund Storm Water Capital Reserve Housing Authority Fund Equipment Transfer In Fund Cable TV Equipment Reserve Wastewater Fund Water Fund Refuse Collection Fund Storm Water Fund Capital Projects Airport Fund MPOJC Fund Affordable Housing Fund Library Replacement Reserve Debt Service Fund Transit Fund TIF Fund Landfill Fund Capital Projects Capital Projects Landfill Fund General Fund MPOJC Fund General Fund Road Use Tax Fund General Fund Debt Service Landfill Fund Parking Capital Reserve Capital Projects Transit Bus Reserve Capital Projects Wastewater Debt Reserve Wastewater Capital Reserve Wastewater Capital Projects Water Debt Reserve Water Capital Reserve Water Capital Projects Capital Projects Landfill Reserves Capital Projects Capital Projects Storm Water Capital Reserve Storm Water Capital Projects General Fund Capital Projects Reason Equipment Reserve Low Income Discount Donations Low Income Discount Donations Low Income Discount Donations Low Income Discount Donations CIP funding CIP funding Operating funding Operating Funding Equipment Reserve Aniston Village Loan Pmt Transit Levy Transfer Hilton Garden Inn Rebate Transfer Loan Repayment CIP funding CIP funding Loan Repayment Forestry Cost Share Cost share Employee benefits Employee benefits Loan Repayment Debt payments Loan Repayment Reserve Transfer CIP funding Reserve Transfer CIP funding Debt payments Reserve Transfer CIP funding Debt payments Reserve Transfer CIP funding CIP funding Closure/Replacement funding CIP funding CIP funding Reserve Transfer CIP funding PILOT/NDS Director cost share CIP Funding Passed and approved this 16th day of April 2024 Original $10,000.00 $2,500.00 $2,000.00 $7,000.00 $1,200.00 $1,387,800.00 $100,000.00 $95,600.00 $1,030,000.00 $62,400.00 $20,100.00 $4,247,200.00 $150,000.00 $117,000.00 $9,700,000.00 $3,200,000.00 $78,000.00 $81,200.00 $299,000.00 $13,527,100.00 $697,100.00 $42,500.00 $1,542,300.00 $294,800.00 $1,500,000.00 $1,450,000.00 $750,000.00 $2,205,500,00 $3,872,500.00 $1,500,000.00 $1,360,000.00 $70,200.00 $1,800,000.00 $1,770,000.00 $250,000.00 $1,025,000.00 $500,000.00 $350,000.00 $1,100,000.00 $1,035,000.00 $30,700.00 $7,400,000.00 Resolution No. 24-95 Page 2 Mayor: Approved by Attest: City Clerk City orney's Office — 04/10/2024 It was moved by Moe and seconded, by Alter the Resolution be adopted, and upon roll call there were: Ayes: Nays: Absent: X Alter X Bergus X Dunn X Harmsen X Moe X Salih X Teague Item Number: 6.f. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution approving, authorizing and directing the Mayor to execute and the City Clerk to attest Amendment No 1 to the November 11, 2023 agreement by and between the City of Iowa City and Shive-Hattery, Inc. to provide engineering consultant services for the Kitty Lee Road SW Functional Design Project. Prepared By: Bryan Dannen — Senior Engineer Reviewed By: Jason Havel - City Engineer Ron Knoche - Public Works Director Geoff Fruin - City Manager Fiscal Impact: $16,600 available in the Kitty Lee Road SW Functional Design Project account #S3980. Staff Recommendation: Approval Attachments: Kitty Lee Road - Resolution Kitty Lee Rd Design Project - Agreement.pdf Kitty Lee Rd Design Project - Amendment 1 - Signed.pdf Executive Summary: The City of Iowa City previously contracted with Shive-Hattery, Inc. to provide land surveying and engineering services to complete a functional design for the reconstruction of Kitty Lee Road SW between Highway 1 and the Kitty Lee Road northern terminus including the intersection of Highway 1. Additional services are required to provide evaluation of sanitary sewer provisions within the project area to address future development along the Kitty Lee Road corridor and surrounding area. The fee for Amendment No 1 is $16,600, which will increase the total consultant service fees for this project to $116,100. Background /Analysis: Shive-Hattery's original scope of work included the development of a functional design for the reconstruction of Kitty Lee Road SW. Among the sanitary sewer related items were the drafting of sanitary sewer main and manholes based on SUDAS design standard layouts and spacings. The Functional Design process identified that additional sanitary sewer provision review is required for the Kitty Lee Road corridor. This amendment will review the existing MWD Davis Addition lift station and capacity. Additionally, the subbasin areas and general sanitary sewer conveyance will be reviewed for both the MWD Davis Addition lift station and a potential sanitary sewer trunk extension under Highway 218. Prepared by: Bryan Dannen, Public Works, 410 E: Washington St., Iowa City, IA 52240; (319) 356-5413 Resolution No. 24-96 Resolution approving, authorizing and directing the Mayor to execute and the City Clerk to attest Amendment No 1 to the November 11, 2023 agreement by and between the City of Iowa City and Shive-Hattery, Inc. to provide engineering consultant services for the Kitty Lee Road SW Functional Design Project. Whereas, the City of Iowa City, hereinafter "City", entered into an Agreement with Shive-Hattery, Inc. of Cedar Rapids, Iowa, hereinafter "Consultant", on or about November 11, 2023, to prepare functional design plans for the reconstruction of Kitty Lee Road between Highway 1 and the Kitty Lee Road northern terminus, including the intersection of Highway 1; and Whereas, the City Manager approved the original Consultant Agreement per the City's Purchasing Policy; and Whereas, during the completion of the functional design, the need for additional review of sanitary provisions along the corridor was identified; and Whereas, the City desires to broaden the scope of services performed by the Consultant to address this additional review; and Whereas, the City and Consultant have negotiated Amendment No 1 to the Agreement to provide said additional consulting services; and Whereas, if Amendment No 1 is executed, the total compensation for services will exceed the City Manager's approval authority; and Whereas, it is in the public interest to enter into said Amendment No 1 to the Agreement with Consultant; and Whereas, funds for this project are available in the Kitty Lee Road SW Functional Design Project account # S3980; Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: 1. Amendment No 1 to the Agreement, attached hereto, is in the public interest and is approved as to form and content. 2. The Mayor and City Clerk are hereby authorized and directed to execute the attached Amendment No 1. 3. The City Manager is authorized to execute future amendments to this contract as they may become necessary. Passed and approved this 16th day of April , 2024 Resolution No. 24-96 Page 2 M Attest:_ City Clerk It was moved by Moe adopted, and upon roll call there were: Ayes: and seconded by Nays: Approved by City Attorney's ice - 04 11 /2024 Alter Absent: Alter Bergus Dunn Harmsen Moe Sallh Teague the Resolution be Consultant Agreement Iowa City Kitty Lee Road SW Functional Design Project Amendment No. 1 This Amendment No. 1, is entered into this 16th day of April , 2024, is an amendment to the Consultant Agreement (Agreement) dated November 11, 2023 between the City of Iowa City, a municipal corporation, hereinafter referred to as the City, and Shive-Hattery, Inc., of Cedar Rapids, Iowa, hereinafter referred to as the Consultant. Whereas, the City and Consultant entered into the Agreement whereby the Consultant agreed to provide functional design for the reconstruction of Kitty Lee Road between Highway 1 and Kitty Lee Road northern terminus including the intersection of Highway 1; and Whereas, services are required to provide additional evaluation of the area that can be served with sanitary sewer provisions along the north end of Kitty Lee Road, including the planned Oaknoll West development (northwest of Kitty Lee Road); and Whereas, services are required for evaluating the impacts of sanitary provision along Kitty Lee Road to the existing sanitary sewer infrastructure, including existing gravity sewers and/or existing MWD Davis Addition lift station and associated force main; and Whereas, services are required to evaluate alternatives to select the planned area as well as. approach for providing sanitary sewer in the area north of Kitty Lee Road and, as appropriate, upgrades to existing sanitary sewer infrastructure; and Whereas, the Consultant is willing to perform these additional services for an increase in fee and an extension of the time of completion. Now therefore, it is agreed by and between the parties hereto that the parties do now agree to the following amendments to the Agreement: I. Scope of Services: The following services are added to the Part I — Scope of Services, under the respective tasks listed: 2. Site Investigation c) Existing Sanitary Sewer Lift Station Evaluation and Summary Based on available information, evaluate and summarize the sanitary sewer provisions, design flows, and design capacity, including outer boundary, of existing MWD Davis Addition service area, lift station, force main, and gravity sewer. d) Kitty Lee Road Service Area Evaluation Based on available information of the area, including planned Oaknoll West development, land use, Highway 218 trunk extension, and topography, evaluate and summarize sewer drainage area boundaries and associated design flows for expanding sanitary sewer service along the north end of Kitty Lee Road. e) Sewer Service Concept Based on findings and conclusions of the task above, evaluate and develop a sanitary sewer service concept(s): 1) General conveyance requirements, such as drainage direction, conveyance type and minimum design capacities for major conveyance infrastructure, such as a lift station, force main, and interceptor, as appropriate. IPA 2) Modifications to the MWD Davis Addition Lift Station, as appropriate for the conceptualized area and associated flows being served. 3) Potential subbasin area and conveyance to utilize the planned Highway 218 trunk extension. Identify potential areas not serviced by either Highway 218 trunk extension or MWD Davis Addition Lift Station. f) Deliverable Summarize the concept(s) in a technical memorandum, including service area, land use, design flows, and budgetary costs. Memo will include exhibit(s) showing the general service area boundary, drainage subbasins, and provisions of the concept. Review the draft memo with City staff, address comments as appropriate, and finalize the memo. II. Time of Completion: The following is modified from and added to the schedule within Part II. —Time of Completion: Milestone / Task Deadline Amendment #1 Sewer Service Review 4/17/24 — 5/17/24 Public Open House #2 4/23/24 Pre -Final Functional Plan Complete 5/03/24 Draft Sanitary Service Area Memo Submittal 5/20/24 City Review Meeting #2 5/29/24 Final Functional Plan and Sanitary Service Area Memo Submittal 6/14/24 Ill. Compensation for Services In consideration for the above amendments, the Consultant shall be compensated based on an hourly basis, according to the fee schedule attached to the Agreement, for the following not -to - exceed fee of $16,600. The total compensation for services, as hereby amended, is now $116,100. IV. Miscellaneous All other provisions of the November 11, 2023, Consultant Agreement not specifically amended herein shall remain in full force and effect. For thT For the Consultant By: % By: �-- Project Manager Title: Mayor Title: 04/11/2024 Date: 04/16/2024 Date: Approved by: t City Attorne 's Office 71�- Date Consultant Agreement This agreement, made and entered into this day of November 2023, by and between the City of Iowa City, a municipal corporation, hereinafter referred to as the City and Shive- Hattery, Inc., of Iowa City, Iowa, hereinafter referred to as the Consultant. Whereas, the City desires to complete a functional design for the reconstruction of Kitty Lee Road between Highway 1 and Kitty Lee Road northern terminus including the intersection of Highway 1; and Whereas, the City desires to obtain the services of a qualified consulting firm to provide functional roadway design including land surveying and civil engineering services; and Whereas, the City issued a Request for Qualifications, On -Call Professional Design and Engineering Services (2023-2025), to private consulting firms interested in providing design and engineering services related to public improvement projects in the City of Iowa City; and Whereas, submittals were received from consulting firms and evaluated by a selection committee; and Whereas Consultant was selected based on qualifications, key personnel, project approach, fees and rates; and Whereas, funds are available in the Kitty Lee Road SW -Functional Design Fund 53980. Now, therefore, it is agreed by and between the parties hereto that the City does now contract with the Consultant to provide services as set forth herein. L Scope of Services Consultant agrees to perform the following services for the City, and to do so in a timely and satisfactory manner. 7. prosect ocrrdin�ticrtt: a) Project Kickoff - Meet with City Staff to initiate project design services. b) IADOT Coordination — Conduct (1) One meeting with Iowa DOT to discuss Highway 1 alternatives at intersection with Kitty Lee and US Highway 1. c) Johnson County Coordination — Conduct (2) Two meetings with County staff to discuss project design alternatives. d) City Staff Review - Coordinate (2) Two design review meetings with City Staff. One meeting to be held prior to second Open House to review design. One meeting to review final functional plan. a) Oaknoll West- Coordinate (1) One project review meeting Public Open House - assist with public involvement by participating in (2) Two neighborhood open houses and provide presentation material for project overview, along with aerial photos and plan information for public review. The meetings are intended to engage neighborhood residents in the corridor to provide information on design basis for future conditions and fact-finding on existing conditions and concerns from residents. Meeting #1 Gather feedback from residents to better understand existing conditions, o Scroll Plot of existing corridor with Aerial photo and existing profile. MietinqR Share corridor preliminary improvements based on City Reviews and Public Open House Meeting #1 feedback a Scroll Plot with proposed design o Typical sections r< s a) .49DWng and Base Ma n) ct Provide topographical data and aerial imagery using a drone flight equipped with LIDAR sensors. Right-of-way, property boundaries, and existing easements shall be included utilizing Johnson County GIS fine work. This field survey information will be used as the base map for the functional design. The survey will use the Iowa State Plane South Coordinate System. The survey area will consist of survey of the project corridor from the south right of way line of Highway 1 to 50 feet north of the Kitty Lee Road north terminus along the corridor, survey to include approximately 50' east and west beyond right of way along existing driveways, and surrey along Olde Oak Lane up to driveway approach for 3656 Olde Oak Lane Driveway. b) Wetlntj Qgljn2ation. Provide a wetland and Waters of the United States (WOTUS) delineation for the project area. The delineation to evaluate whether the project area has potentially jurisdictional wetlands or WOTUS. If wetlands or WOTUS are present, the upper boundaries within the project area will be identified and mapped. • Documentation of vegetation communities, hydrology, and soils. Assemble and review available public information. • Perform an on-site visit to gather data pertaining to hydrophytic vegetation, wetland hydrology, and hydric soils. • Utilize a hand-held GPS unit (sub -meter accuracy) to map the boundaries of all delineated wetlands within the project * Prepare reaps that show the delineated Wetland and WOTUS area(s), ■ Submit a Welland and Waters of the United States Delineation Report to the City that can be used for submittal to the USAGE. This report will Include, but Is not limited to sample locations, data forms, site :photos, maps of the wetland area(s), and explanation of the results of the investigation. -3 - The scope of this proposal includes (1) one site visit to conduct a baseline delineation in the fall and (1) one site visit in the spring during growing season. a) Stormwater Analysis Provide estimated functional box or round culvert design dimensions for sizing under the roadway. Storm piping and intakes along the corridor will be included in plan and layout will be based on SUDAS design standard intake spacing. Stormwater modeling is not included in this design. b) Functional Design Report Provide functional design documents in 11 x17 format for the roadway corridor using the updated imagery, and surface data. These documents will refine the scope of the design and provide an updated opinion of construction cost for use in planning, budgeting, and obtaining funding consideration for the roadway construction project. Provide the following: Design criteria for roadway elements consistent with SUDAS (Statewide Urban Design and Specification) Section 5C-1 based on the roadway functional classification and design speeds. ii. Typical cross-sections for the roadway, sidewalks, and right-of-way grading. (B Sheets) iii. Estimated quantities summary tabulation. No detailed individual item tabulations will be provided (C Sheets) iv. Locations and conceptual layout for future intersections: i. Olde Oak Lane Intersection, potentially as a roundabout ii. Kitty Lee and US Highway 1 iii. Review and approximate location of future Rohret Road Southwest District Plan intersections (D Sheets) V. Roadway alignment, plan and profile with grading limits and cut/fill estimates for the project. (D Sheets) vi. Locations of retaining walls. (D Sheets) viii Acquisition — Preliminary layout of right-of-way acquisitions based upon available parcel and lot lines from GIS and any located property corners. (H Sheets) viii. Easement — Preliminary layout of temporary construction easements and permanent easements needed to facilitate construction (based upon grading limits). (H Sheets) ix. Construction access and phasing plan including (2) Options. (J Sheets) x. Private utilities to be shown per field locates. Plan and profile layouts of the following will be included: 1. Storm Sewer — Storm intake and pipe locations will be based on SUDAS design standard intake spacing. 2. Watermain — Watermain and fire hydrants will be based on SUDAS design standard layouts and spacings. 3. Sanitary Sewer— Sanitary sewer main and manholes will be based on SUDAS design standard layouts and spacing and will be laid out for future connections, both parallel to and crossing the corridor. (M Sheets) A Mainline cross sections (W Sheets) Al. Opinion of Probable Cost — Based on the results of the information gathered in this study, Constultant will prepare an updated opinion of probable construction and design costs for the project. 4. Additional Sgndgga Consultant may perform the following additional services upon execution of a written amendment to this agreement. However, these additional services shall not be performed without prior written authorization, a) Highway 1 and Kitty Lee Road Traffic Study b) Geotechnical Investigation c) Environmental site permitting preparation. d) Renderings for design decisions and council or public meeting use. Time of Completion The Consultant shall complete the following phases of the Project in accordance with the schedule shown. Milestone 1 Task Deadline Kickoff Meeting 11120123 Complete Drone Survey 12/08/23 Public Open House #1 12/11/23 —12/15/23 Complete Final Survey to Include Utilities 1/19/23 Draft Functional Plan Complete 2/23124 City Review Meeting #1 3/08124 Public Open House #2 3/25/24 - 3/29/24 Pre -Final Functional Plan Complete 5/03/24 City Review Meeting #2 5/17124 Final Functional plan 5/31/24 -5- 111. Compensation for Services The City shall pay the Consultant an hourly not -to -exceed fee of $99,500 based upon the Consultant Fee Schedule shown on ATTACHMENT A, attached hereto and incorporated herein. This fee includes a $1,500 allowance for reimbursable expenses, as described in Attachment A. The table below provides an estimated budget summary. Description IM Project Coordination $14,800 Surveying and Base Mapping $22,000 Wetland Delineation $8,000 Functional Design $53,200 Reimbursable Expenses $1,500 Total Nat -To -Exceed Fee $99,500 N. General Terms A. The Consultant shall not commit any of the following employment practices and agrees to prohibit the following practices in any subcontracts. 1. To discharge or refuse to hire any individual because of their race, color, religion, sex, national origin, disability, age, marital status, gender identity, or sexual orientation. 2. To discriminate against any individual in terms, conditions, or privileges of employment because of their race, color, religion, sex, national origin, disability, age, marital status, gender identity, or sexual orientation. B, Should the City terminate this Agreement, the Consultant shall be paid for all work and services performed up to the time of temtination. However, such sums shall not be greater than the "not -to -exceed" amount listed in Section III. The City may terminate this Agreement upon seven (7) calendar days' written notice to the Consultant. C. This Agreement shall be binding upon the successors and assigns of the parties hereto, provided that no assignment shall be without the written consent of all Parties to said Agreement. D. It is understood and agreed that the retention of the Consultant by the City for the purpose of the Project shall be as an independent contractor and shall be exclusive, but the Consultant shall have the right to employ such assistance as may be required for the performance of the Project. E. It is agreed by the City that all records and files pertaining to information needed by the Consultant for the project shall be available by said City upon reasonable request to the Consultant. The City agrees to furnish all reasonable assistance in the use of these records and files. F. it is further agreed that no Party to this Agreement shall perform contrary to any state, federal, or local law or any of the ordinances of the City of Iowa City, Iowa. G, At the request of the City, the Consultant shall attend meetings of the City Council relative to the work set forth in this Agreement. Any requests made by the City shall be given with reasonable notice to the Consultant to assure attendance. H. The Consultant agrees to furnish, upon termination of this Agreement and upon demand by the City, copies of all basic notes and sketches, charts, computations, and any other data prepared or obtained by the Consultant pursuant to this Agreement without cost, and without restrictions or limitation as to the use relative to specific projects covered under this Agreement. In such event, the Consultant shall not be liable for the City's use of such documents on other projects_ L The Consultant agrees to furnish all reports, specifications, and drawings with the seal of a licensed professional as required by Iowa law. J. The City agrees to tender the Consultant all fees in a timely manner, excepting, however, that failure of the Consultant to satisfactorily perform in accordance with this Agreement shall constitute grounds for the City to withhold payment of the amount sufficient to properly complete the Project in accordance with this Agreement. K. Should any section of this Agreement be found invalid, it is agreed that the remaining portion shall be deemed severable from the invalid portion and continue in full force and effect. L. Original contract drawings shall become the property of the City. The Consultant shall be allowed to keep reproducible copies for the Consultant's own filing use. K Fees paid for securing approval of authorities having jurisdiction over the Project will be paid by the City. N. Upon signing this Agreement, Consultant acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this Agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5. -7- 0, Indemnification To the full extent permitted by law, Consultant agrees to defend, indemnify, and hold harmless the City against any and all claims, demands, suits, loss, expenses, including attorney's fees, and for any damages which may be asserted, claimed or recovered against or from the City by reason of personal injury, including bodily injury or death, and property damages, including loss of use thereof, caused by Consultant's negligent acts, errors or omissions in performing the work and/or services provided by Consultant to the City pursuant to the provisions of this Agreement. 2. Consultant assumes full responsibility for any and all damage or injuries which may result to any person or property by reason of Consultant's negligent acts, errors or omissions in connection with the work and/or services provided by Consultant to the City pursuant to this Agreement, and agrees to pay the City for all damages caused to the City's premises resulting from the negligent acts, errors or omissions of Consultant. 3. The Consultant's obligation to indemnify the City shall not include the obligation to indemnify, hold harmless, or defend the City against lability, claims, damages, losses, or expenses, including attorney fees, to the extent caused by or resulting from the negligent act, error, or omission of the City. 4. For purposes of this paragraph, the term "Consultant" means and includes the Consultant, its officers, agents, employees, sub -consultants, and others for whom Consultant is legally liable, and the term "City" means and includes the City of Iowa City, Iowa its Mayor, City Council members, employees, and volunteers. P. Insurance ill 11! !f!`!i! ' 'rr-r_ - • ill !/! 2- Consultant agrees to provide the City a certificate of insurance evidencing that all coverages, limits and endorsements required herein are maintained and in full force and effect, and certificates of Insurance shall provide a minimum thirty (30) day endeavor tonotify, when available by Consultant's Insurer. If the Consultant receives a non -renewal or cancellation notice from an insurance carrier affording coverage required herein, or receives notice that coverage no longer complies with the insurance requirements herein, Consultant agrees to notify the City within five (5) business days with a copy of the non -renewal or cancellation notice. Q. Standard of Care 1. The Consultant shall perform services for, and furnish deliverables to, the City pertaining to the Project as set forth in this Agreement. The Consultant shall possess a degree of learning, care and skill ordinarily possessed by reputable professionals, practicing in this area under similar circumstances. The Consultant shall use reasonable diligence and professional judgment in the exercise of skill and application of learning. 2. Consultant represents that the Services and all its components shall be free of defects caused by negligence; shall be performed in a manner consistent with the standard of care of other professional service providers in a similar Industry and application; shall conform to the requirements of this Agreement; and shall be sufficient and suitable for the purposes expressed in this Agreement. 3. All provisions of this Agreement shall be reconciled in accordance with the generally accepted standards of the Engineering Profession. 4. Consultant's obligations under this Section shall exist without regard to, and shall not be construed to be waived by, the availability or unavailability of any insurance, either of City or Consultant. R. There are no other considerations or monies contingent upon or resulting from the execution of this Agreement, it is the entire Agreement, and no other monies or considerations have been solicited. S. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Iowa. Any legal proceeding instituted with respect to this Agreement shall be brought in a court of competent jurisdiction in Johnson County, Iowa. The parties hereto hereby submit to personal jurisdiction therein and irrevocably waive any objection as to venue therein, including any argument that such proceeding has been brought in an inconvenient forum. For the City By:/ By: Title: Title: Date: /I / z i / Z .7 Date: Attest: �2�/2 CA - For Consultant Project Manager 11/15/23 Appr ed by: City Attorn y s O ce Date ATTACHMENT A PROFESSiO EAL STAFF: TECHN"L STAFF: Grade 1 $104.00 Grade $ 73.00 Grade 2 $124.00 Grade 2 $ 89.00 Grade 3 $138.00 Grade 3 $102.00 Grade 4 $154.00 Grade 4 $110.00 Grade 5 $172.00 Grade 5 $123.00 Grade 6 $185.00 Grade 6 $141.00 Grade 7 $202.00 Grade 7 $157.00 Grade 8 $221.00 Color Prints: Grade 9 $240.00 Letter Size $ 1.00 ADNtN STAFF: $ 71.00 SURVEY STAFF: One Person $158.00 Two Person $245.00 One Person with ATV $183.00 Two Person with ATV $270.00 Drone Surveyor (Video or Photogrammetry) $195.00 Drone Surveyor (Thermography) $360.00 Reality Capture Processing $161.00 Hydrographic Survey Crew (Two Person) $311.00 Scanning Surveyor $215.00 Surveyor with Two Scanners $295.00 Surveyor with Three Scanners $375.00 Ground Penetrating Radar $160.00 REIMl3UkSAIBLE EXPENSES; TRAVEL IN-HOUSE SERVICES Mileage- Carlrruck $0.65/ Mile Prints/Plots: Mileage- Survey Trucks $0.751 Mile Bond $ .30/Sq. Ft. Lodging, Meals Cost+ 10% Mylar $ .75/Sq. Ft. Airfare Cost + 10% Photogloss $ .90/Sq. Ft. Car Rental Cost + 10% Color Bond $ .60/Sq. Ft Foam Core Mounting $ 13.00 g=IRE E SERVICES Aerial Photogrammetry Cost+ 10% Color Prints: Professional Services Cost + 10% Letter Size $ 1.00 Prints/Plots/Photos Cost+ 10% Legal Size $ 2.00 Deliveries Cost+ 10% MURUNNTFAM. PROFESSIONAL STAFF: TECHNICAL STAFF: Grade 1 $ 108.00 Grade 1 $ 76.00 Grade 2 $ 128.00 Grade 2 $ 92.00 Grade 3 $ 143.00 Grade 3 $ 106.00 Grade 4 $ 159,00 Grade 4 $ 114.00 Grade 5 $ 178.00 Grade 5 $127,00 Grade 6 $191.00 Grade 6 $146,00 Grade 7 $ 209.00 Grade 7 $162.00 Grade 8 $ 229.00 Grade 9 $ 248.00 MIN STAFF: $ 73,00 One Person $ 164.00 Two Person $ 254.00 One Person with ATV $ 190.00 Two Person with ATV $ 280.00 Drone Surveyor (Video or Photogrammetry) $ 202.00 Drone Surveyor (Thermography) $ 373.00 Drone Processing $ 167.00 Hydrographic Survey Grew (Two Person) $ 322.00 Scanning Surveyor $ 223.00 Surveyor with Two Scanners $ 305.00 Surveyor with Three Scanners $ 388.00 Item Number: 6.g. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution accepting the work for the Iowa City Gateway Project [HDP -3715(652)--71-52]. Prepared By: Scott Sovers - Assistant City Engineer Reviewed By: Jason Havel - City Engineer Ron Knoche - Public Works Director Geoff Fruin - City Manager Fiscal Impact: None Staff Recommendation: Approval Attachments: Iowa City Gateway Project - Engineer's Report.pdf Iowa City Gateway Project - Resolution Executive Summary: Construction of the Iowa City Gateway Project [HDP -3715(652)--71-52] has been completed by Peterson Contractors, Inc. of Reinbeck, Iowa, in substantial accordance with the plans and specifications developed by HNTB Corporation of Kansas City, Missouri. The Engineer's Report has been filed in the City Clerk's Office. • Project Estimated Cost: $ 52,000,000.00 • Project Bid Received: $ 40,552,162.78 • Project Actual Cost: $ 41,403,960.27 There were thirty-five (35) change orders on this project. They generally included the following: • Storm sewer, sanitary sewer and detectable warning material changes • Granular surfacing as needed for temporary access to private properties • Installation of temporary conduits to maintain fiber connectivity to University facilities • Bridge reinforcing changes/adjustments • Supply and installation of radar feedback signs • Installation of temporary bird netting under the Park Road Bridge • Private drive drainage improvements • Modifications to the structural steel railing • Additional traffic control to accommodate RAGBRAI • Removal of the existing bridge steel piles Background /Analysis: This project included the reconstruction of Dubuque Street, from Foster Road to Church Street, and Park Road, from Dubuque Street to Holt Avenue. The project also included the replacement of the Park Road Bridge over the Iowa River, utility improvements (water main, storm sewer, sanitary sewer, telecommunication conduits, lighting, and traffic signals) and all new sidewalks and trails within the project limits. ENGINEER'S REPORT April 9, 2024 City Clerk Iowa City, Iowa Re: Iowa City Gateway Project [HDP -3715(652)-71-521 Dear City Clerk: .�► wlll,j�!r��i CITY OF IOWA CITY UNESCO CITY OF LITERATURE 410 East Washington Street Iowa City, Iowa 52240-1826 319-356-5000 1 www.icgov.org I hereby certify that the construction of the Iowa City Gateway Project has been completed by Peterson Contractors, Inc. of Reinbeck, Iowa in substantial accordance with the plans and specifications prepared by HNTB Corporation of Kansas City, Missouri. The project was bid as a unit price contract and the final contract price is $41,403,960.27. There were thirty-five (35) change orders on the project. They generally included the following: • Storm sewer, sanitary sewer and detectable warning material changes • Granular surfacing as needed for temporary access to private properties • Installation of temporary conduits to maintain fiber connectivity to University facilities • Bridge reinforcing changes/adjustments • Supply and installation of radar feedback signs (southbound Dubuque Street) • Installation of temporary bird netting under the Park Road Bridge • Private drive drainage improvements • Modifications to the structural steel railing • Additional traffic control to accommodate RAGBRAI • Removal of the existing bridge steel piles Total Change Orders: $883,797.49 I recommend that the above -referenced improvements be accepted by the City of Iowa City. Sincerely, Jason Havel, P.E. City Engineer Prepared by: Scott Sovers, Engineering Division, Public Works, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5142 Resolution No. 24-97 Resolution accepting the work for the Iowa City Gateway Project [HDP -3715(652)--71-52] Whereas, the Engineering Division has recommended that the work for construction of the Iowa City Gateway Project, as included in a contract between the City of Iowa City and Peterson Contractors, Inc. of Reinbeck, IA, dated May 13, 2016, be accepted; and Whereas, the Engineer's Report has been filed in the City Clerk's office; and Whereas, funds for this project are available in the Iowa City Gateway account # S3809; and Whereas, the final contract price is $41,403,960.27. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that said improvements are hereby accepted by the City of Iowa City, Iowa. Passed and approved this 16th day of April 2024 M Approved by Attest: City Clerk City Attorney's ffice (Liz Craig — 04/11/2024) It was moved by MOe and seconded by Alter adopted, and upon roll call there were: Ayes: Nays: Absent: x Alter x Bergus x Dunn x Harmsen x Moe x Salih x Teague the Resolution be Item Number: 6.11h. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution Directing the Advertisement for Sale of $10,140,000* (Dollar Amount Subject To Change) General Obligation Bonds, Series 2024, And Approving Electronic Bidding Procedures and Distribution of Preliminary Official Statement Prepared By: Nicole Davies, Finance Director Reviewed By: Geoff Fruin, City Manager Fiscal Impact: Approved as part of the FY2024 Revised Budget and 2024-2028 Capital Improvement Program Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Preliminary Official Statement .pdf Resolution.docx Executive Summary: This is a resolution to advertise for the sale, to approve the electronic bidding procedures, and to approve the distribution of the preliminary official statement for the 2024 General Obligation Bonds. This resolution establishes the sale time and date and bidding procedures for the 2024 General Obligation Bonds. It also accepts and approves the Preliminary Official Statement or sale document for the bonds. Background /Analysis: The City issues bonds every spring to fund the current year's capital improvement projects listed in the Five -Year Capital Improvement Program. The City intends to take bids for $10,140,000 in general obligation bonds on May 7 and then close on the bond sale on June 4. The FY2024 Revised Budget and FY2025 Adopted Budget have been approved with the necessary property tax levies needed for repayment of the 2024 General Obligation Bonds. The City's long-term planning has incorporated the 2024 proposed bond issue and repayment schedule. City Council approval of the resolution directing the advertisement for sale, approving electronic bidding procedures, and distribution of the preliminary official statement is the next required action to facilitate the sale and issuance of the 2024 General Obligation Bonds. New Issue Investment Rating: Date of Sale: Tuesday, May 7, 2024 (Alternate Bid Methods) Moody's Investors Service Between 10:30 and 11:00 A.M., C.D.T. (Closed SpeerAuction) (Rating Requested) Before 11:00 A.M., C.D.T. (Sealed Bids) Official Statement Assuming compliance with certain covenants, in the opinion ofAhlers & Cooney, P.C., Bond Counsel, under present law and assuming continued compliance with the requirements of the Internal Revenue Code of 1986, as amended (the "Cade'), interest on the Bonds is excludable from gross income for federal income tax purposes. Interest on the Bonds is not an item oftax preference for purposes of the federal alternative minimum has imposed on individuals, however, such interest is taken into account in determining the annual adjusted financial statement income ofapplicable corporations (as defined in Section 59(k) ofthe Code) for the purpose of computing the alternative minimum his imposed on corporationsfor tax years beginning after December 31, 2022. Interest on the Bonds is not exemptfrom presentlowa income taxes. The Bonds will NOT be designated as "quaked tax-exempt obligations ". See "TAX AIATTERS"hereinfor a more detailed discussion. Dated Date of Delivery $10,140,000" CITY OF IOWA CITY Johnson County, Iowa General Obligation Bonds, Series 2024 Book -Entry Due Serially June 1, 2025 - 2034 The $10,140,000* General Obligation Bonds, Series 2024 (the "Bonds") are being issued by the City of Iowa City, Johnson County, Iowa (the "City" or the "Issuer'). Interest is payable semiannually on June 1 and December 1 of each year, commencing December 1, 2024. Interest is calculated based on a 360 -day year of twelve 30 -day months. The Bonds will be issued using a book - entry system. The Depository Trust Company ("DTC"), New York, New York, will act as securities depository for the Bonds. The ownership of one fully registered Bond for each maturity will be registered in the name of Cede & Co., as nominee for DTC and no physical delivery of Bonds will be made to purchasers. The Bonds will mature on June 1 in the following years and amounts. AMOUNTS-, MATURITIES, INTEREST RATES, PRICES OR YIELDS AND CUSIP NUMBERS Principal Due Interest Price or CUSIP Principal Due Interest Price or CUSIP Amount` June 1 Rate Yield Number(1) Amount` June 1 Rate Yield Number(1) $2,000,000......... 2025 % % $905,000........... 2030 % % 905,000......... 2026 % % 905,000........... 2031 % % 905,000......... 2027 % % 905,000........... 2032 % % 905,000......... 2028 % % 905,000........... 2033 % % 905,000......... 2029 % % 900,000........... 2034 % % Any consecutive maturities maybe aggregated ium term bonds at the option ofthe bidder, in which case the mandatory redemption provisions shall be on the same schedule as above OPTIONAL REDEMPTION Bonds due June 1, 2025 - 2031, inclusive, are not subject to optional redemption. Bonds due June 1, 2032 - 2034, inclusive, are callable in whole or in part on any date on or after June 1, 2031, at a price of par and accrued interest. If less than all the Bonds are called, they shall be redeemed in such principal amounts and from such maturities as determined by the City and within any maturity by lot. See "OPTIONAL REDEMPTION" herein. PURPOSE, LEGALITY AND SECURITY The proceeds of the Bonds are expected to be used to: (i) £mance the cost of various essential and general corporate purpose capital improvements, and (ii) pay certain costs of issuance related to the Bonds. See "THE PROJECT" herein. In the opinion of Bond Counsel, Ahlers & Cooney, P.C., Des Moines, Iowa, the Bonds will constitute valid and legally binding obligations of the City payable both as to principal and interest from ad valorem taxes levied against all taxable, real property within the corporate limits of the City without limitation as to rate or amount, all except as limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to the enforcement of creditors' rights generally and except that enforcement by equitable and similar remedies, such as mandamus, is subject to the exercise of judicial discretion. This Official Statement is dated April , 2024, and has been prepared under the authority of the City. An electronic copy of this Official Statement is available from the www.speerfmancial.com web site under "Official Statement Sales Calendar". Additional copies may be obtained from Nicole Davies, Finance Director, City of Iowa City, 410 E. Washington Street, Iowa City, Iowa, 52240, or from the Registered Municipal Advisors to the City. Z. SpeerFinancial, Inc. ENTM WWALADVISORS•ESTABLISHED 1951 *Subject toprincipal adjustment in accordance with the Oficial Terms of Offering (I)=Pmunbasrq mgmoas Officidaaanavhmsbeasro dby tie=Pser ell w.1achismmngeionL fofos Amai.Bm sAxocinenby S"CWdIQ apatofMCG}mv HiddFirseiad Ire. The City isnotWefn tYe.selation ofClJSlP munlvsaMmabPs rzor�esemmian as to tlzeirca-ratres on tYe BorNsnas serf rth on tYe cava oftYas OJfenl Smtemart. For purposes of compliance with Rule 15c2-12 of the Securities and Exchange Commission, this document, as the same may be supplemented or corrected by the City from time to time (collectively, the "Official Statement'), may be treated as an Official Statement with respect to the Bonds described herein that is deemed near final as of the date hereof (or the date of any such supplement or correction) by the City. The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts and interest rates of the Bonds, together with any other information required by law or deemed appropriate by the City, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defined in Rule 15c2-12. Any such addendum or addenda shall, on and after the date thereof, be fully incorporated herein and made a part hereof by reference. Alternatively, such final terms of the Bonds and other information may be included in a separate document entitled "Final Official Statement" rather than through supplementing the Official Statement by an addendum or addenda. No dealer, broker, salesman or other person has been authorized by the City to give any information or to make any representations with respect to the Bonds other than as contained in the Official Statement or the Final Official Statement and, if given or made, such other information or representations must not be relied upon as having been authorized by the City. Certain information contained in the Official Statement and the Final Official Statement may have been obtained from sources other than records of the City and, while believed to be reliable, is not guaranteed as to completeness. THE INFORMATION AND EXPRESSIONS OF OPINION IN THE OFFICIAL STATEMENT AND THE FINAL OFFICIAL STATEMENT ARE SUBJECT TO CHANGE, AND NEITHER THE DELIVERY OF THE OFFICIAL STATEMENT OR THE FINAL OFFICIAL STATEMENT NOR ANY SALE MADE UNDER EITHER SUCH DOCUMENT SHALL CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE CITY SINCE THE RESPECTIVE DATES THEREOF. No representation is made regarding whether the Bonds constitute legal investments under the laws of any state for banks, savings banks, savings and loan associations, life insurance companies, and other institutions organized in such state, or fiduciaries subject to the laws of such state. THE BONDS HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION BY REASON OF THE PROVISIONS OF SECTION 3(a)(2) OF THE SECURITIES ACT OF 1933, AS AMENDED. THE REGISTRATION OR QUALIFICATIONS OF THE BONDS IN ACCORDANCE WITH APPLICABLE PROVISIONS OF SECURITIES LAWS OF THE STATES IN WHICH THE BONDS HAVE BEEN REGISTERED OR QUALIFIED AND THE EXEMPTION FROM REGISTRATION OR QUALIFICATION IN OTHER STATES SHALL NOT BE REGARDED AS A RECOMMENDATION THEREOF. NEITHER THESE STATES NOR ANY OF THEIR AGENCIES HAVE PASSED UPON THE MERITS OF THE BONDS OR THE ACCURACY OR COMPLETENESS OF THIS OFFICIAL STATEMENT. ANY REPRESENTATION TO THE CONTRARY MAY BE A CRIMINAL OFFENSE. References herein to laws, rules, regulations, ordinances, resolutions, agreements, reports and other documents do not purport to be comprehensive or definitive. All references to such documents are qualified in their entirety by reference to the particular document, the full text of which may contain qualifications of and exceptions to statements made herein. Where full texts have not been included as appendices to the Official Statement or the Final Official Statement, they will be furnished on request. This Official Statement does not constitute an offer to sell, or solicitation of an offer to buy, any securities to any person in any jurisdiction where such offer or solicitation of such offer would be unlawful. References to website addresses presented herein are for informational purposes only and may be in the form of a hyperlink solely for the reader's convenience. Unless specified otherwise, such websites and the information or links contained therein are not incorporated into, and are not part of, this Official Statement for purposes of, and as that term is defined in, Securities and Exchange Commission Rule 15c2-12. TABLE OF CONTENTS Page BOND ISSUE SUMMARY....................................................................................................................................................1 SECURITY AND SOURCE OF PAYMENT........................................................................................................................2 CERTAIN BONDHOLDERS' RISKS...................................................................................................................................3 SecondaryMarket...............................................................................................................................................................3 RatingsLoss........................................................................................................................................................................3 RedemptionPrior to Maturity.............................................................................................................................................3 Forward -Looking Statements..............................................................................................................................................4 Tax Matters and Loss of Tax Exemption............................................................................................................................4 DTC -Beneficial Owners.....................................................................................................................................................4 Pensionand OPEB Benefits................................................................................................................................................5 ContinuingDisclosure........................................................................................................................................................ 6 Cybersecurity...................................................................................................................................................................... 6 Suitabilityof Investment..................................................................................................................................................... 6 Bankruptcyand Insolvency.................................................................................................................................................6 Matters Relating to Enforceability of Agreements............................................................................................................. 7 Legislation........................................................................................................................................................................... 7 TaxLevy Procedures.......................................................................................................................................................... 8 Lossof Tax Base................................................................................................................................................................. 8 Federal Funds Orders and State Funds Legislation............................................................................................................. 8 OtherFactors....................................................................................................................................................................... 8 THECITY.............................................................................................................................................................................. 9 CityOrganization and Services...........................................................................................................................................9 CommunityLife..................................................................................................................................................................9 Education............................................................................................................................................................................ 9 Transportation..................................................................................................................................................................... 9 SOCIOECONOMIC INFORMATION................................................................................................................................10 Population.........................................................................................................................................................................10 Employment......................................................................................................................................................................10 Housing.............................................................................................................................................................................11 Incomeand Benefits......................................................................................................................................................... 12 RetailSales........................................................................................................................................................................13 THEPROJECT.....................................................................................................................................................................13 SHORT-TERM BORROWING AND ADDITIONAL GENERAL OBLIGATION DEBT ............................................... 13 DEBTINFORMATION.......................................................................................................................................................14 DebtLimitation................................................................................................................................................................. 14 DirectDebt........................................................................................................................................................................14 OtherObligations.............................................................................................................................................................. 16 PROPERTY ASSESSMENT AND TAX INFORMATION................................................................................................16 PropertyTax Assessment.................................................................................................................................................. 16 BuildingPermits............................................................................................................................................................... 17 PropertyTax Collection....................................................................................................................................................17 TaxRates.......................................................................................................................................................................... 20 TaxLevy Procedures........................................................................................................................................................20 UtilityProperty Tax Replacement....................................................................................................................................20 TaxIncrement Financing.................................................................................................................................................. 21 PropertyTax Legislation................................................................................................................................................... 21 FINANCIAL INFORMATION............................................................................................................................................ 22 FinancialReports..............................................................................................................................................................22 No Consent or Updated Information Requested of the Auditor........................................................................................ 22 Summary Financial Information.......................................................................................................................................22 REGISTRATION, TRANSFER AND EXCHANGE...........................................................................................................26 (i) TAXMATTERS................................................................................................................................................................... 27 TaxExemption..................................................................................................................................................................27 Discountand Premium Bonds...........................................................................................................................................28 OtherTax Advice..............................................................................................................................................................28 Audits................................................................................................................................................................................ 28 Reportingand Withholding...............................................................................................................................................28 TaxLegislation................................................................................................................................................................. 28 Enforcement...................................................................................................................................................................... 29 TheOpinion......................................................................................................................................................................29 BondCounsel Review.......................................................................................................................................................29 CONTINUING DISCLOSURE............................................................................................................................................30 OPTIONAL REDEMPTION................................................................................................................................................ 30 LITIGATION........................................................................................................................................................................ 30 LEGALMATTERS..............................................................................................................................................................31 OFFICIAL STATEMENT AUTHORIZATION.................................................................................................................. 31 INVESTMENT RATING.....................................................................................................................................................31 UNDERWRITING............................................................................................................................................................... 32 MUNICIPAL ADVISOR......................................................................................................................................................32 MISCELLANEOUS.............................................................................................................................................................33 APPENDIX A -FISCAL YEAR 2023 ANNUAL COMPREHENSIVE FINANCIAL REPORT APPENDIX B -DESCRIBING BOOK -ENTRY -ONLY ISSUANCE APPENDIX C -DRAFT FORM OF BOND COUNSEL OPINION APPENDIX D -DRAFT FORM OF CONTINUING DISCLOSURE CERTIFICATE OFFICIAL BID FORM OFFICIAL TERMS OF OFFERING Exhibit A — Example Issue Price Certificate City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 011 L71-11RRDJ—DLIYJ1151 1/ : 1 1 This Bond Issue Summary is expressly qualified by the entire Official Statement, including the Official Terms of Offering and the Official Bid Form, which are provided for the convenience of potential investors and should be reviewed in their entirety by potential investors. Issuer: City of Iowa City, Johnson County, Iowa. Issue: $10,140,000* General Obligation Bonds, Series 2024. Dated Date: Date of delivery (expected to be on or about June 4, 2024). Interest Due: Each June 1 and December 1, commencing December 1, 2024. Principal Due: Serially each June 1, commencing June 1, 2025 through 2034, as detailed on the cover page of this Official Statement. Optional Redemption: Bonds maturing on or after June 1, 2032, are callable at the option of the City on any date on or after June 1, 2031, at a price of par plus accrued interest. See "OPTIONAL REDEMP'T'ION" herein. Authorization: The Bonds are being issued pursuant to authority established in Code of Iowa, 2023 as amended, Chapter 384 (the "Act'), and all laws amendatory thereof and supplementary thereto, and in conformity with a resolution (the "Resolution" or the `Bond Resolution') of the City duly passed and approved. Security: The Bonds are valid and legally binding obligations of the City payable both as to principal and interest from ad valorem taxes levied against all taxable real property within the corporate limits of the City without limitation as to rate or amount, all except as limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to the enforcement of creditors' rights generally and except that enforcement by equitable and similar remedies, such as mandamus, is subject to the exercise of judicial discretion. Investment Rating: An investment rating for the Bonds has been requested from Moody's Investors Service, Inc., New York, New York. See "INVESTMENT RATING" herein. Purpose: The proceeds of the Bonds will be used to: (i) finance the cost of various essential and general corporate purpose capital improvements, and (ii) pay certain costs of issuance related to the Bonds. See "THE PROJECT" herein. Tax Matters: Ahlers & Cooney, P.C., Des Moines, Iowa, will provide an opinion as to the tax exemption of the Bonds as discussed under "TAX MATTERS" in this Official Statement. Interest on the Bonds is not exempt from present State of Iowa income taxes. See APPENDIX C for a draft form of legal opinion for the Bonds. Bank Qualified: The Bonds are not "qualified tax-exempt obligations" under Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. Bond Registrar/Paying Agent: U.S. Bank Trust Company, National Association, St. Paul, Minnesota (the "Registrar'). Delivery: The Bonds are expected to be delivered on or about June 4, 2024. Book -Entry Form: The Bonds will be registered in the name of Cede & Co. as nominee for The Depository Trust Company ("DTC'), New York, New York DTC will act as securities depository of the Bonds. See APPENDIX B herein. Denomination: $5,000 or integral multiples thereof. Municipal Advisor: Speer Financial, Inc., Waterloo, Iowa and Chicago, Illinois. *Subject to change. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Megan Alter Shawn Harmsen Geoff Fruin City Manager Nicole Davies Finance Director CITY OF IOWA CITY Johnson County, Iowa Bruce Teague Mayor Council Members Laura Bergus Josh Moe Officials Redmond Jones II Deputy City Manager Jacklyn Fleagle Assistant Finance Director SECURITY AND SOURCE OF PAYMENT Andrew Dunn Mazahir Salih Kellie Grace City Clerk Eric Goers, Esq. City Attorney Pursuant to the Resolution and the Act, the Bonds and the interest thereon are general obligations of the City, and all taxable property within the corporate boundaries of the City is subject to the levy of taxes to pay the principal of and interest on the Bonds without constitutional or statutory limitation as to rate or amount. For a description of certain constitutional limits on the issuance of general obligation debt by the City, see "Debt Limitation" herein. Section 76.2 of the Code of Iowa, 2023, as amended (the "Iowa Code'), provides that when an Iowa political subdivision issues general obligation bonds, the governing authority of such political subdivision shall, by resolution adopted before issuing the bonds, provide for the assessment of an annual levy upon all the taxable property in the political subdivision sufficient to pay the interest and principal of the bonds. A certified copy of this resolution shall be filed with the County Auditor in which the Issuer is located, giving rise to a duty of the County Auditor to annually enter this levy for collection from the taxable property within the boundaries of the Issuer, until finds are realized to pay the bonds in full. For the purpose of providing for the levy and collection of a direct annual tax sufficient to pay the principal of and interest on the Bonds as the same become due, the Resolution provides for the levy of a tax sufficient for that purpose on all the taxable property in the Issuer in each of the years while the Bonds are outstanding. The Issuer shall file a certified copy of the Resolution with the County Auditor, pursuant to which the County Auditor is instructed to enter for collection and assess the tax authorized. When annually entering such taxes for collection, the County Auditor shall include the same as a part of the tax levy for Debt Service Fund purposes of the Issuer and when collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the Issuer and set aside therein as a special account to be used solely and only for the payment of the principal of and interest on the Bonds and for no other purpose whatsoever. 2 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Nothing in the Resolution prohibits or limits the ability of the City to use legally available moneys other than the proceeds of the general ad valorem property taxes levied as described in the preceding paragraph to pay all or any portion of the principal of or interest on the Bonds. If and to the extent such other legally available moneys are used to pay the principal of or interest on the Bonds, the City may, but shall not be required to, (a) reduce the amount of taxes levied for such purpose, as described in the preceding paragraph; or (b) use proceeds of taxes levied, as described in the preceding paragraph, to reimburse the fixed or account from which such other legally available moneys are withdrawn for the amount withdrawn from such fund or account to pay the principal of or interest on the Bonds. CERTAIN BONDHOLDERS' RISKS An investment in the Bonds is subject to certain risks. No person should purchase the Bonds unless such person understands the risks described below and is willing to bear those risks. There may be other risks not listed below which may adversely affect the value of the Bonds. In order to identify risk factors and make an informed investment decision, potential investors should be thoroughly familiar with this entire Official Statement (including the Appendices hereto) in order to make a judgement as to whether the Bonds are an appropriate investment. Secondary Market There can be no guarantee that there will be a secondary market for the Bonds or, if a secondary market exists, that such Bonds can be sold for any particular price. Occasionally, because of general market conditions or because of adverse history of economic prospects connected with a particular issue, secondary marketing practices in connection with a particular bond or note issue are suspended or terminated. Additionally, prices of bond or note issues for which a market is being made will depend upon then prevailing circumstances. Such prices could be substantially different from the original purchase price of the Bonds. EACH PROSPECTIVE PURCHASER IS RESPONSIBLE FOR ASSESSING THE MERITS AND RISKS OF AN INVESTMENT IN THE BONDS AND MUST BE ABLE TO BEAR THE ECONOMIC RISK OF SUCH INVESTMENT. THE SECONDARY MARKET FOR THE BONDS, IF ANY, COULD BE LIMITED. Ratings Loss Moody's Investors Service, Inc. ("Moody's") has assigned a rating of " " to the Bonds. Generally, a rating agency bases its rating on the information and materials furnished to it and on investigations, studies and assumptions of its own. There is no assurance that the rating will continue for any given period of time, or that such rating will not be revised, suspended or withdrawn, if, in the judgment of Moody's, circumstances so warrant. A revision, suspension or withdrawal of a rating may have an adverse effect on the market price of the Bonds. Various factors, including additional regulation of rating agencies could materially alter the methodology, rating levels, and types of ratings available, for example, and these changes, if ever, could materially affect the market value of the Bonds. Redemption Prior to Maturity In considering whether to make an investment in the Bonds, it should be noted the Bonds are subject to optional redemption, as outlined herein, without Bondholder discretion or consent. See "OPTIONAL REDEMPTION" herein. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Forward -Looking Statements This Official Statement contains statements relating to future results that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When used in this Official Statement, the words "anticipated," "plan," "expect," "projected," "estimate," "budget," "pro -forma," "forecast" "intend," "expect" and similar expressions identify forward-looking statements. Any forward-looking statement is subject to uncertainty. Accordingly, such statements are subject to risks that could cause actual results to differ, possibly materially, from those contemplated in such forward-looking statements. Inevitably, some assumptions used to develop forward-looking statements will not be realized or unanticipated events and circumstances may occur. Therefore, investors should be aware that there are likely to be differences between forward-looking statements and the actual results. These differences could be material and could impact the availability of funds of the City to pay debt service when due on the Bonds. Tax Matters and Loss of Tax Exemption As discussed under the heading "TAX MATTERS" herein, the interest on the Bonds could become includable in gross income for purposes of federal income taxation retroactive to the date of delivery of the Bonds, as a result of acts or omissions of the City in violation of its covenants in the Resolution. Should such an event of taxability occur, the Bonds would not be subject to a special prepayment and would remain outstanding until maturity or until prepaid under the prepayment provisions contained in the Bonds, and there is no provision for an adjustment of the interest rate on the Bonds. It is possible that legislation will be proposed or introduced that could result in changes in the way that tax exemption is calculated, or whether interest on certain securities are exempt from taxation at all. Prospective purchasers should consult with their own tax advisors regarding any pending or proposed federal income tax legislation. The likelihood of any pending or future legislation being enacted or whether the currently proposed terms of any pending legislation will be altered or removed during the legislative process cannot be reliably predicted. It is possible that actions of the Issuer after the closing of the Bonds will alter the tax exempt status of the Bonds, and, in the extreme, remove the tax exempt status from the Bonds. In that instance, the Bonds are not subject to mandatory prepayment, and the interest rate on the Bonds does not increase or otherwise reset. A determination of taxability on the Bonds, after closing of the Bonds, could materially adversely affect the value and marketability of the Bonds. DTC -Beneficial Owners Beneficial Owners of the Bonds may experience some delay in the receipt of distributions of principal of and interest on the Bonds since such distributions will be forwarded by the Paying Agent to DTC and DTC will credit such distributions to the accounts of the Participants which will thereafter credit them to the accounts of the Beneficial Owner either directly or indirectly through Indirect Participants. Neither the City nor the Paying Agent will have any responsibility or obligation to assure that any such notice or payment is forwarded by DTC to any Participants or by any Participant to any Beneficial Owner. In addition, since transactions in the Bonds can be effected only through DTC Participants, Indirect Participants and certain banks, the ability of a Beneficial Owner to pledge the Bonds to persons or entities that do not participate in the DTC system, or otherwise to take actions in respect of such Bonds, may be limited due to lack of a physical certificate. Beneficial Owners will be permitted to exercise the rights of registered Owners only indirectly through DTC and the Participants. See APPENDIX B —Describing Book -Entry Only Issuance. rd City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Pension and OPEB Benefits The City participates in two public pension systems, Iowa Public Employee's Retirement System (IPERS) and Municipal Fire and Police Retirement System of Iowa (MF'PRSI). In fiscal year 2023, pursuant to the IPERS' required rate, the City's Regular employees (members) contributed 6.29% of covered payroll and the City contributed 9.44% of covered payroll, for a total rate of 15.73%. The City's contributions to IPERS for the year ended June 30, 2023 were $3,492,754. The City's share of the contributions, payable from the applicable fixnds of the City, is provided by a statutorily authorized annual levy of taxes without limit or restriction as to rate or amount. The City has always made its full required contributions to IPERS. At June 30, 2023, the City reported a liability of $15,814,014 for its proportionate share of the IPERS net pension liability. The net pension liability was measured as of June 30, 2022 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The discount rate used to measure the total pension liability was 7%. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all IPERS participating employers. While the City's contributions to IPERS are controlled by state law, there can be no assurance the City will not be required by changes in State law to increase its contribution requirement in the fixture, which may have the effect of negatively impacting the finances of the City. See "APPENDIX A — ANNUAL COMPREHENSIVE FINANCIAL REPORT" for additional information on pension and liabilities of the City. In fiscal year 2023, pursuant to the MFPRSI's required rate, the City's employees (members) contributed 9.40% of eamable compensation and the City contributed 23.90% of eamable compensation, for a total rate of 33.30%. The City's contribution to MFPRSI for year ended June 30, 2023 was $3,009,101. The City's share of the contributions, payable from the applicable fixnds of the City, is provided by a statutorily authorized annual levy of taxes without limit or restriction as to rate or amount. The City has always made its fill required contributions to MFPRSI. At June 30, 2023, the City reported a liability of $18,975,938 for its proportionate share of the MFPRSI net pension liability. The net pension liability was measured as of June 30, 2022 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The discount rate used to measure the total pension liability was 7.5%. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all MFPRSI participating employers. While the City's contributions to MFPRSI are controlled by state law, there can be no assurance the City will not be required by changes in State law to increase its contribution requirement in the fixture, which may have the effect of negatively impacting the finances of the City. See "APPENDIX A — ANNUAL COMPREHENSIVE FINANCIAL REPORT" hereto for additional information on pension and liabilities of the City. Bond Counsel, Disclosure Counsel, the Municipal Advisor, and the City undertake no responsibility for and make no representations as to the accuracy or completeness of the information available from IPERS or MFPRSI discussed above or included on the IPERS or MFPRSI websites, including, but not limited to, updates of such information on the State Auditor's website or links to other Internet sites accessed through the IPERS or MFPRSI websites. The City operates a single -employer self-funded medical and dental plan for all employees, which is offered to current and retired employees and their dependents. Group insurance benefits are established under Iowa Code Chapter 509A.13. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. The following table shows the City's total OPEB liability: Total OPEB Liability Beginning of Year ................................................. $8,123,615 Changes for the year Service Cost.......................................................................... 617,419 Interest.................................................................................. 353,028 Difference Between Expected and Actual Experience........... (118,211) Changes in Assumptions (24,446) Benefit Payments (221.312) NetChanges......................................................................................... 606.478 Total OPEB Liability End of Year $8,730,093 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 See APPENDIX A — Notes ('n and (8) herein for further discussion of the City's employee retirement benefit obligations. Continuing Disclosure A failure by the City to comply with continuing disclosure obligations (see "CONTINUING DISCLOSURE" herein) will not constitute an event of default on the Bonds. Any such failure must be disclosed in accordance with Rule 15c2-12 (the "Rule") adopted by the Securities and Exchange Commission (the "Commission') under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and may adversely affect the transferability and liquidity of the Bonds and their market price. The City will covenant in a Continuing Disclosure Certificate for the benefit of the Owners and Beneficial Owners of the Bonds to provide annually certain financial information and operating data relating to the City (the "Annual Report'), and to provide notices of the occurrence of certain enumerated events. See "APPENDIX D — FORM OF CONTINUING DISCLOSURE CERTIFICATE." The specific nature of the information to be contained in the Annual Report or the notices of events, and the manner in which such materials are to be filed, are summarized in "APPENDIX D — FORM OF CONTINUING DISCLOSURE CERTIFICATE." These covenants have been made in order to assist the Underwriter in complying with the Rule. Cybersecurity The City, like many other public and private entities, relies on a large and complex technology environment to conduct its operations. As such, it may face multiple cybersecurity threats including but not limited to, hacking, viruses, malware and other attacks on computer or other sensitive digital systems and networks. There can be no assurances that any security and operational control measures implemented by the City will be completely successful to guard against and prevent cyber threats and attacks. Failure to properly maintain functionality, control, security, and integrity of the City's information systems could impact business operations and/or digital networks and systems and the costs of remedying any such damage could be significant. Along with significant liability claims or regulatory penalties, any security breach could have a material adverse impact on the City's operations and financial condition. The City cannot predict whether its cyber liability policy will be sufficient in the event of a cyberattack. However, the Bonds are secured by an unlimited ad valorem property tax as described herein. See "SECURITY AND SOURCE OF PAYMENT" herein. Suitability of Investment The interest rate borne by the Bonds is intended to compensate the investor for assuming the risk of investing in the Bonds. Each prospective investor should carefully examine this Official Statement and its own financial condition to make a judgment as to its ability to bear the economic risk of such an investment, and whether or not the Bonds are an appropriate investment for such investor. Bankruptcy and Insolvency The rights and remedies provided in the Resolution may be limited by and are subject to the provisions of federal bankruptcy laws, to other laws or equitable principles that may affect the enforcement of creditors' rights, to the exercise of judicial discretion in appropriate cases and to limitations in legal remedies against exercise of judicial discretion in appropriate cases and to limitations on legal remedies against municipal corporations in the State. The various opinions of counsel to be delivered with respect to the Bonds and the Resolution, including the opinion of Bond Counsel, will be similarly qualified. If the City were to file a petition under Chapter Nine of the Federal Bankruptcy Code, the owners of the Bonds could be prohibited from taking any steps to enforce their rights under the Resolution. In the event the City fails to comply with its covenants under the Resolution or fails to make payments on the Bonds, there can be no assurance of the availability of remedies adequate to protect the interests of the holders of the Bonds. 6 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Under sections 76.16 and 76.16A of the Iowa Code, as amended, a city, county, or other political subdivision may become a debtor under Chapter Nine of the Federal Bankruptcy Code, if it is rendered insolvent, as defined in 11 U.S.C. §101(32)(c), as a result of a debt involuntarily incurred. As used therein, "debt" means an obligation to pay money, other than pursuant to a valid and binding collective bargaining agreement or previously authorized bond issue, as to which the governing body of the city, county, or other political subdivision has made a specific finding set forth in a duly adopted resolution of each of the following: (1) that all or a portion of such obligation will not be paid from available insurance proceeds and must be paid from an increase in general tax levy; (2) that such increase in the general tax levy will result in a severe, adverse impact on the ability of the city, county, or political subdivision to exercise the powers granted to it under applicable law, including without limitation providing necessary services and promoting economic development; (3) that as a result of such obligation, the city, county, or other political subdivision is unable to pay its debts as they become due; and (4) that the debt is not an obligation to pay money to a city, county, entity organized pursuant to Chapter 28E of the Iowa Code, or other political subdivision. Matters Relating to Enforceability of Agreements There is no bond trustee or similar person to monitor or enforce the provisions of the Resolution. The owners of the Bonds should, therefore, be prepared to enforce such provisions themselves if the need to do so arises. In the event of a default in the payment of principal of or interest on the Bonds, there is no provision for acceleration of maturity of the principal of the Bonds. Consequently, the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the Resolution) may have to be enforced from year to year. Holders of the Bonds shall have and possess all the rights of action and remedies afforded by the common law, the Constitution and statutes of the State of Iowa and of the United States of America for the enforcement of payment of the Bonds, including, but not limited to, the right to a proceeding in law or in equity by suit, action or mandamus to enforce and compel performance of the duties required by Iowa law and the Resolution. The practical realization of any rights upon any default will depend upon the exercise of various remedies specified in the Resolution. The remedies available to the owners of the Bonds upon an event of default under the Resolution, in certain respects, may require judicial action, which is often subject to discretion and delay. Under existing law, including specifically the Federal Bankruptcy Code, certain of the remedies specified in the Resolution may not be readily available or may be limited. A court may decide not to order the specific performance of the covenants contained in these documents. The legal opinions to be delivered concurrently with the delivery of the Bonds will be qualified as to the enforceability of the various legal instruments by limitations imposed by general principles of equity and public policy and by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors generally. No representation is made, and no assurance is given, that the enforcement of any remedies with respect to such assets will result in sufficient funds to pay all amounts due under the Resolution, including principal of and interest on the Bonds. Legislation From time to time, there are proposals pending in Congress and in the Iowa General Assembly that could, if enacted, alter or amend one or more of the matters described herein in certain respects or would adversely affect the market value of the Bonds, or otherwise prevent holders of the Bonds from realizing the full benefit of the tax exemption of interest on the Bonds. Further such proposals may impact the marketability or market value of the Bonds simply by being proposed. It cannot be predicted whether or in what forms any of such proposals, either pending or that may be introduced, may be enacted and there can be no assurance that such proposals will not apply to the Bonds. In addition regulatory actions are from time to time announced or proposed, and litigation threatened or commenced, which if implemented or concluded in a particular manner, could adversely affect the market value, marketability or tax status of the Bonds. It cannot be predicted whether any such regulatory action will be implemented, how any particular litigation or judicial action will be resolved, or whether the Bonds would be impacted thereby. 7 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Changes in Property Taxation From time to time the Iowa General Assembly has altered the method of property taxation and could do so again. Such alterations could adversely affect the City's financial condition. Historically, changes to property tax calculations and impositions are imposed on a prospective basis. However, there is no assurance future changes to property taxation by the Iowa General Assembly will not be applied retroactively. See "Property Tax Legislation" herein for a discussion on recent changes to the property tax process. It is impossible to predict the outcome of future property taxation changes by the Iowa General Assembly or resulting impacts on the City's financial condition. However, the Bonds are secured by an unlimited ad valorem property tax as described more fully in the "SECURITY AND SOURCE OF PAYMENT" herein. Tax Levy Procedures The Bonds are general obligations of the City, payable from and secured by a continuing ad valorem tax levied against all of the taxable real property within the corporate limits of the City. See "PROPERTY ASSESSMENT AND TAX INFORMATION" herein for more details. As part of the budgetary process each fiscal year, the City will have an obligation to request a debt service levy to be applied against all of the taxable real property within the corporate limits of the City. A failure on the part of the City to make a timely levy request or a levy request by the City that is inaccurate or is insufficient to make full payments of the debt service of the Bonds for a particular fiscal year may cause Bondholders to experience delay in the receipt of distributions of principal of and/or interest on the Bonds. In the event of a default in the payment of principal of or interest on the Bonds, there is no provision for acceleration of maturity of the principal of the Bonds. Consequently, the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the Resolution) may have to be enforced from year to year. Loss of Tax Base Economic and other factors beyond the City's control, such as economic recession, deflation of property values, or financial difficulty or bankruptcy by one or more major property taxpayers, or the complete or partial destruction of taxable property caused by, among other eventualities, earthquake, flood, fire or other natural disaster, could cause a reduction in the assessed value within the corporate boundaries of the City. In addition, the State of Iowa has been susceptible to tornados, flooding and other extreme weather wherein winds and flooding have from time to time caused significant damage, which if such events were to occur, may have an adverse impact on the City's financial position. Federal Funds Orders and State Funds Legislation Various federal executive orders, and Iowa Code Chapter 27A (collectively "ICE Enforcement Initiatives"), impose requirements intended to ensure compliance with the federal immigration detainment processes. The ICE Enforcement Initiatives impose various penalties for non-compliance, including the loss of state and/or federal funding under certain circumstances. The loss of state and/or federal funds in any significant amount could negatively impact the City's overall financial position and may affect its rating and could slow down completion of certain of the Projects. However, the Bonds are secured by an unlimited ad valorem property tax and are not secured by state or federal funds. See "SECURITY AND SOURCE OF PAYMENT" herein. Other Factors An investment in the Bonds involves an element of risk The foregoing is intended only as a summary of certain risk factors attendant to an investment in the Bonds. In order for potential investors to identify risk factors and make an informed investment decision, potential investors should become thoroughly familiar with this entire Official Statement and the Appendices hereto. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 THE CITY The City is located in East Central Iowa and was incorporated in 1853 under the laws of the State of Iowa (the "State') and operates under the Council/Manager form of government. The 2020 Census reported population at 74,828. The City is the largest City in Johnson County (the "County") and serves as the County seat. City Organization and Services The City is governed by a seven member Council and each member serves a four-year term. Elections are held every two years, allowing for continuation in office of at least three members in each biennial election. The Council members are elected at large, but three members are nominated from specific districts and the remaining four members are nominated at large. The Mayor is elected by the Council from its own members for a two-year term. The City Manager, City Attorney and City Clerk are appointed by the City Council. The City Manager is the chief administrative officer for the City. Currently the City employs approximately 583 full-time, 59 permanent part-time and 271 temporary employees, including a police force of 81 sworn personnel and a fire department of 66 fire fighters. The City considers its employee relations to be good. The City currently maintains labor agreements with the American Federation of State, County, and Municipal Employees ("AFSCME') which contract expires June 30, 2026; with Police (`TLRO") which contract expires June 30, 2025; and Fire fighters ("IAFF") which contract expires June 30, 2024. The City provides a broad range of services to its citizens including general government, public safety, streets, parks, and cultural facilities. It also operates an airport, a mass transportation system, parking facilities, water treatment, wastewater treatment, storm water collection, sanitation collection and disposal (including landfill operations), and a housing authority. Community Life The City was the fust North American City to be awarded the City of Literature in North America by UNESCO in 2008, which has a goal of fostering cultural diversity. The City hosts a variety of cultural events, such as the Iowa Writers' Workshop, whose graduates include John Irving, Flannery O'Connor, T.C. Boyle; the International Writing Program; the Non -Fiction Writing Program; the Iowa Playwrights' Workshop; and the Iowa Summer Writing Festival. Education Public education to the City is provided by the Iowa City Community School District (the "District"), with certified enrollment of 14,379 for Fiscal Year 2023-24. There are approximately 2,000 full and part-time employees of the District. The District owns and operates 19 pre-school sites, 21 elementary schools, three junior high schools, three comprehensive high schools, one alternative high school and a Transition Services Center (a program for special education students ages 18-21). Education is also provided through the Clear Creek—AmanaCommunity School District, with certified enrollment of 3,036 for Fiscal Year 2023-24. Four year college programs and vocational training are available throughout the area including the University of Iowa and Kirkwood Community College. Transportation The City is approximately 115 miles east of the City of Des Moines, 20 miles southeast of the City of Cedar Rapids and 55 miles northwest of the City of Davenport. The Eastern Iowa Airport is located 20 miles from downtown Iowa City and is served by a number of national and regional air carriers. A general aviation airport, Iowa City Municipal Airport is located on the south side of the City. The Iowa Interstate Railway, and Cedar Rapids and Iowa City Railway provide the City's rail service. Bus transportation is provided by Iowa City Transit, Coralville Transit, and the University of Iowa. There is also a system of paved bicycle paths in the City along the Iowa River and some main roads in the City have paved bicycle shoulders. 9 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 SOCIOECONOMIC INFORMATION The following demographic information is for the City. Additional comparisons are made with Johnson County (the "County") and the State of Iowa (the "State'). Population The following table reflects population trends for the City, the County and the State Population Comparison(]) Note: (1) Source: U.S. Bureau ofthe Census Employment Following are lists of large employers located in the City. Major City Employers(]) The Percent The Percent The Percent Year City Change County Change State Change 1970 46,850 n/a 72,127 n/a 2,824,376 n/a 1980 50,508 7.81% 81,717 13.30% 2,913,808 3.17% 1990 59,735 18.27% 96,119 17.62% 2,776,755 (4.70%) 2000 62,220 4.16% 111,006 15.49% 2,926,324 5.39% 2010 67,862 9.07% 130,882 17.91% 3,046,355 4.10% 2020 ..................... 74,828 10.26% 152,854 16.79% 3,190,369 4.73% Note: (1) Source: U.S. Bureau ofthe Census Employment Following are lists of large employers located in the City. Major City Employers(]) Note: (1) Source: the City The following tables show employment by industry and by occupation for the City, the County and the State as reported by the U.S. Census Bureau 2018 - 2022 American Community Survey 5 -year estimated values. Employment By Industry(]) Classification Agriculture, forestry, fishing and hunting, and mining ............................. Construction.......................................................................................... Manufacturing Wholesaletrade.................................................................................... Retail trade Transportation and warehousing, and utilities Information............................................................................................ Finance and insurance, and real estate and rental and leasing .............. Professional, scientific, and management, and administrative and waste management services............................................................... Educational services, and health care and social assistance Arts, entertainment, and recreation, and accommodation and foodservices....................................................................................... Other services, except public administration Public administration............................................................................. Total The Cit Number Percent 443 1.1% 1,160 2.8% 2,369 5.6% 448 1.1% 5,244 12.5% 1,571 3.7% 664 1.6% 1,628 3.9% The Count Number Percent 1,257 1.5% 3,320 3.9% 7,303 8.6% 1,254 1.5% 9,434 11.1% 2,911 3.4% 1,214 1.5% 4,607 5.5% The State Number Percent Approximate Name Product/Service Employment University of Iowa...................................................................... Education/Health Services................................................................ 24,500 Iowa City Community School District ......................................... Education......................................................................................... 2,000 Veterans Administration Medical Center .................................... Health Services................................................................................ 2,000 Procter and Gamble.................................................................. Health and Beauty Products............................................................. 1,300 MercyHospital........................................................................... Health Services................................................................................ 1,300 ACT, Inc....................................................................................Education Programs......................................................................... 985 Cityof Iowa City........................................................................ Government...................................................................................... 810 NCS Pearson............................................................................ Educational Testing Services............................................................ 800 Goodwill ofthe Heartland.......................................................... Nonprofit ------------------------------------------------------------------------------------------- 640 Amazon..................................................................................... Logistics........................................................................................... 450 Note: (1) Source: the City The following tables show employment by industry and by occupation for the City, the County and the State as reported by the U.S. Census Bureau 2018 - 2022 American Community Survey 5 -year estimated values. Employment By Industry(]) Classification Agriculture, forestry, fishing and hunting, and mining ............................. Construction.......................................................................................... Manufacturing Wholesaletrade.................................................................................... Retail trade Transportation and warehousing, and utilities Information............................................................................................ Finance and insurance, and real estate and rental and leasing .............. Professional, scientific, and management, and administrative and waste management services............................................................... Educational services, and health care and social assistance Arts, entertainment, and recreation, and accommodation and foodservices....................................................................................... Other services, except public administration Public administration............................................................................. Total The Cit Number Percent 443 1.1% 1,160 2.8% 2,369 5.6% 448 1.1% 5,244 12.5% 1,571 3.7% 664 1.6% 1,628 3.9% The Count Number Percent 1,257 1.5% 3,320 3.9% 7,303 8.6% 1,254 1.5% 9,434 11.1% 2,911 3.4% 1,214 1.5% 4,607 5.5% The State Number Percent 59,661 3.7% 109,620 6.7% 241,735 14.9% 43,644 2.7% 188,572 11.6% 84,056 5.2% 23,201 1.4% 125,957 7.7% 2,902 6.9% 6,463 7.6% 122,753 7.5% 18,480 44.0% 34,432 40.6% 393,500 24.2% 5,175 12.3% 7,705 9.1% 114,116 7.0% 1,143 2.7% 2,909 3.4% 68,874 4.2% 752 1.8% 1954 2.3% 51.745 3.2% 41,979 100.0% 84,763 100.0% 1,627,434 100.0% Note: (1) Source: U. S. Bureau ofthe Census, American Community Survey 5 -Year Estimates from 2018 -2022. 10 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Employment By Occupation(]) Note: (1) Source: U. S. Bureau ofthe Census, American Community Survey 5 -Year Estimates from 2018 -2022 The following shows the annual average unemployment rates for the City, the County, the State and the United States. Annual Average Unemployment Rates(1)(2) Calendar The City The County The State Classification Number Percent Number Percent Number Percent -38.1% Management, business, science, and arts occupations 20,686 49.3% 42,561 50.2% 620,397 2.4% 2.4% Service occupations 8,096 19.3% 13,820 16.3% 251,632 15.5% Sales and office occupations 7,380 17.6% 15,048 17.8% 321,247 19.7% Natural resources, construction, and maintenance occupations ............. 1,690 4.0% 4,586 5.4% 154,866 9.5% Production, transportation, and material moving occupations ................ 4 127 9.8% 8748 10.3% 279,292 17.2% Total.................................................................................................... 41,979 100.0% 84,763 100.0% 1,627,434 100.0% Note: (1) Source: U. S. Bureau ofthe Census, American Community Survey 5 -Year Estimates from 2018 -2022 The following shows the annual average unemployment rates for the City, the County, the State and the United States. Annual Average Unemployment Rates(1)(2) Calendar The The The United Year City County State States 2015 ........................ 2.5% 2.6% 3.7% 5.3% 2016 ........................ 2.4% 2.6% 3.6% 4.9% 2017 ........................ 2.4% 2.4% 3.1% 4.4% 2018 ........................ 1.9% 2.0% 2.6% 3.9% 2019 ........................ 1.9% 2.0% 2.7% 3.7% 2020(3) .................... 5.0% 4.7% 5.2% 8.1% 2021 ........................ 3.4% 3.4% 3.8% 5.4% 2022 ........................ 2.4% 2.3% 2.8% 3.6% 2023 ........................ 2.4% 2.4% 2.9% 3.6% 2024(4) .................... 2.4% 2.6% 3.6% 4.1% Notes: (1) Source: Iowa Workforce Development. (2) Not seasonally adjusted. (3) The increase in unemployment rates maybe attributable to the COVID-19 pandemic. (4) Preliminary rates for the month of January 2024. Housing The U.S. Census Bureau 5 -year estimated values reported that the median value of the City's owner -occupied homes was $256,600. This compares to $277,800 for the County and $181,600 for the State. The following table represents the five year average market value of specified owner -occupied units for the City, the County and the State at the time of the 2018 - 2022 American Community Survey. Value Less than $50,000............ $50,000 to $99,999........... $100,000 to $149,999....... $150,000 to $199,999....... $200,000 to $299,999....... $300,000 to $499,999....... $500,000 to $999,999....... $1,000,000 or more .......... Total............................... Home Values(]) The City Percent Number Percent ............ 753 5.3% ............ 234 1.7% ............ 1,042 7.4% ............ 2,173 15.3% ............ 4,883 34.5% ............ 3,758 26.5% ............ 1,225 8.7% ............ 89 0.6% ............ 14,157 100.0% The Count Number Percent 1,836 5.1% 894 2.5% 2,339 6.4% 4,405 12.1% 11,041 30.4% 11,218 30.9% 4,067 11.2% 519 14% 36,319 100.0% The State Number Percent 66,889 7.3% 129,783 14.1% 158,953 17.2% 157,129 17.0% 206,136 22.3% 152,269 16.5% 44,144 4.8% 7.381 0.8% 922,684 100.0% Note: (1) Source: U.S. Bureau ofthe Census, American Community Survey 5 -year estimates 2018-2022. 11 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Mortgage Status Housing units with a mortgage ............. Housing units without a mortgage........ Total.................................................. Mortgage Status(]) The Cit Number Percent 8,736 61.7% 5421 38.3% 14,157 100.0% The Count Number Percent 23,860 6-5 70/. 12459 34.3% 36,319 100.0% The State Number Percent 552,272 59.9% 370.412 40.1% 922,684 100.0% Note: (1) Source: U.S. Bureau ofthe Census, American Community Survey 5 -year estimates 2018-2022. Income and Benefits The U.S. Census Bureau 5 -year estimated values reported that the City had a median family income of $103,193. This compares to $112,575 for the County and $90,921 for the State. The following table represents the distribution of family incomes for the City, the County and the State at the time of the 2018 - 2022 American Community Survey. Income Less than $10,000 ............................... $10,000 to $14,999 .............................. $15,000 to $24,999 .............................. $25,000 to $34,999 .............................. $35,000 to $49,999 $50,000 to $74,999 .............................. $75,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 or more ................................ Total.................................................. Family Income(]) The City Number Number Percent 486 3.9% 196 1.6% 441 3.5% 536 4.3% 1,046 8.3% 1,738 13.9% 1,666 13.3% 2,844 22.7% 1,498 11.9% 2 077 16.6% 12,528 100.0% The County Number Percent 866 2.6% 413 1.3% 930 2.8% 1,270 3.9% 2,324 7.1% 4,004 12.2% 4,220 12.9% 8,387 25.6% 4,391 13.4% 5949 18.2% 32,754 100.0% The State Number Percent 19,266 2.4% 12,209 1.5% 31,695 3.9% 40,734 5.1% 75,502 9.4% 136,964 17.1% 131,007 16.3% 188,746 23.5% 86,058 10.7% 81.095 10.1% 803,276 100.0% Note: (1) Source: U.S. Bureau ofthe Census, American Community Survey 5 -year estimates 2018 to 2022. The U.S. Census Bureau 5 -year estimated values reported that the City had a median household income of $54,879. This compares to $72,977 for the County and $70,571 for the State. The following table represents the distribution of household incomes for the City, the County and the State at the time of the 2018 - 2022 American Community Survey. Income Less than $10,000 $10,000 to $14,999 $15,000 to $24,999 $25,000 to $34,999 $35,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 or more .................................... Total...................................................... Household Income(]) The City Number Percent 3,099 10.1% 1,720 5.6% 2,909 9.5% 2,868 9.4% 3,569 11.7% 4,647 15.2% 3,066 10.0% 4,236 13.9% 1,950 6.4% 2.480 8.1% 30,544 100.0% The Count Number Percent 4,218 6.9% 2,428 4.0% 4,256 6.9% 4,878 7.9% 6,541 10.7% 9,044 14.7% 7,014 11.4% 11,171 18.2% 5,176 8.4% 6.688 10.9% 61,414 100.0% The State Number Percent 53,544 4.2% 46,854 3.6% 96,051 7.4% 100,749 7.8% 153,024 11.9% 231,140 17.9% 183,917 14.3% 234,590 18.2% 98,518 7.6% 91.752 7.1% 1,290,139 100.0% Note: (1) Source: U.S. Bureau ofthe Census, American Community Survey 5 -year estimates 2018-2022. 12 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Retail Sales The Department of Revenue provides retail sales figures based on sales tax reports for years ending June 30. The Department of Revenue figures provide recent data to confirm trends in retail sales activity in the City. The following amounts exclude the City's Local Option Tax. Retail Taxable Sales(]) Fiscal Year Taxable Annual Percent Ending June 30 Sales Change + (-) 2013 ............................. $793,201,342 n/a 2014 811,039,164 2.25% 2015 838,853,686 3.43% 2016 853,258,347 1.72% 2017 874,928,988 2.54% 2018 854,538,416 (2.33%) 2019 866,389,134 1.39% 2020 832,475,900 (3.91%) 2021 858,860,019 3.17% 2022 ............................. 893,675,646 4.05% Growth from 2013 to 2022 ......................................... 12.67% Note: (1) Source: the Iowa Department of Revenue. THE PROJECT Bond proceeds will be used to: (i) finance the cost of various essential and general corporate purpose capital improvements (the "Project'), and (ii) pay the costs of issuing the Bonds. More specifically, the Project includes the financing of the opening, widening, extending, grading and drainage of the right-of-way of streets, highways, avenues, alleys, and public grounds; the construction, reconstruction, and repairing of any street and streetscape improvements, including the replacement or planting of trees in public areas, related utility work, traffic control devices, lighting, trails, sidewalks, and the acquisition of real estate for such purposes; the acquisition, construction, reconstruction, enlargement, improvement, and repair of bridges, culverts, retaining walls, viaducts, underpasses, grade crossing separations, and approaches thereto; and the rehabilitation and improvement of parks already owned, including facilities, equipment and improvements commonly found in city parks; the acquisition, reconstruction, redevelopment, improvement and equipping of recreation buildings and centers, swimming pools and city hall; and the acquisition, reconstruction, improvement and equipping of fire stations. SHORT-TERM BORROWING AND ADDITIONAL GENERAL OBLIGATION DEBT The City has not issued tax anticipation warrants or revenue anticipation notes during the last five years to meet its short-term current year cash flow requirements. The City does not expect to issue any additional general obligation debt in calendar year 2024. 13 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 DEBT INFORMATION Debt Limit The amount of general obligation debt a political subdivision of the State can incur is controlled by the constitutional debt limit, which is an amount equal to 5% of the actual value of taxable property within the corporate limits, taken from the last County Tax list. According to and based upon the January 1, 2022 property valuations, for taxes payable in September 2023 and March 2024, the City's debt limit, based upon said valuation, amounts to the following: Direct Debt *Subject to change 2022 100% Actual Valuation of Property ............................... $7,368,329,010 Constitutional Debt Limit ....................................................... $ 368,416,451 Outstanding Bonds/Notes Applicable to Debt Limit Total G.O. Debt Subject to Debt Limit .................................... $ 52,980,000` TIF Revenue Debt................................................................. 9,925,000 Subscription Liability 317,000" Other Loans 210,784 Other Legal Indebtedness (TIF Rebates) 31.784.289" Total Applicable Debt $ 95.217.073` Remaining Debt Capacity $ 273,199,378' Summary of General Obligation and Tax Increment Debt(1)(2) (Principal Only) General Obligation Series 2015 ......................................................... $ 880,000 Series 2016A 2,045,000 Series 2017A 3,165,000 Series 2018A 3,795,000 Series 2019 4,640,000 Series 2020 4,740,000 Series 2021 7,920,000 Series 2022 7,945,000 Series 2023 7,710,000 The Bonds(3) 10.140.000 Total General Obligation(3) $52,980,000 Tax Increment Financing Revenue: Series 2016E $ 9.925.000 Total Tax Increment ......................................... $ 9,925,000 Notes: (1) Source: the City. (2) After the June 1, 2024 principal payments on the outstanding debt. (3) Subject to change. **The Iowa Supreme Court has not formally nded on the question of whether rebate agreements, and also certain lease assets and liabilities previously classified as operating leases, which pursuant to GASB 87 are now required to be recognized as a lease liability and an intangible right -to -use lease asset, constitute an indebtedness ofa Cityfor constitutional debtpurposes. Though the subscription liabilities and rebate agreement snoted herein may not constitute legal indebtednessfor constitutional debt limitpurposes, amounts reflected above are memorialized in the table to conservatively state the City's possible financial exposure. 14 City of Iowa City, Johnson County, Iowa S10,140,000' General Obligation Bonds, Series 2024 General Obligation Debt(])(2) (Principal Only) Fiscal Year Ending Series Series Series Series Series Series Series Series Series June 30 2015 2016A 2017A 2018A 2019 2020 2021 2022 2023 2025 ........................................... $880,000 $1,010,000 $1,025,000 $ 915,000 $ 875,000 $ 790,000 $1,135,000 $ 995,000 $ 920,000 2026 ........................................... 0 1,035,000 1,055,000 940,000 905,000 790,000 1,135,000 995,000 920,000 2027 ........................................... 0 0 1,085,000 960,000 940,000 790,000 1,135,000 995,000 920,000 2028 ........................................... 0 0 0 980,000 960,000 790,000 1,135,000 995,000 920,000 2029 ........................................... 0 0 0 0 960,000 790,000 1,135,000 995,000 920,000 2030 ........................................... 0 0 0 0 0 790,000 1,135,000 995,000 920,000 2031 ........................................... 0 0 0 0 0 0 1,110,000 995,000 925,000 2032 ........................................... 0 0 0 0 0 0 0 980,000 925,000 2033 ........................................... 0 0 0 0 0 0 0 0 340.000 Total ......................................... $880,000 $2,045,000 $3,165,000 $3,795,000 $4,640,000 $4,740,000 $7,920,000 $7,945,000 $7,710,000 Fiscal Year Outstanding Total Ending General Obligation The General Obligation Cumulative Retirement(3) Principal & June 30 Debt Bonds(3) Debt(3) Amount Percent Interest(3) 2025 ........................................... $ 8,545,000 $ 2,000,000 $10,545,000 $10,545,000 19.90% $12,531,765 2026 ........................................... 7,775,000 905,000 8,680,000 19,225,000 36.29% 10,273,178 2027 ........................................... 6,825,000 905,000 7,730,000 26,955,000 50.88% 8,992,552 2028 ........................................... 5,780,000 905,000 6,685,000 33,640,000 63.50% 7,659,278 2029 ........................................... 4,800,000 905,000 5,705,000 39,345,000 74.26% 6,437,427 2030 ........................................... 3,840,000 905,000 4,745,000 44,090,000 83.22% 5,274,928 2031 ........................................... 3,030,000 905,000 3,935,000 48,025,000 90.65% 4,305,327 2032 ........................................... 1,905,000 905,000 2,810,000 50,835,000 95.95% 3,034,290 2033 ........................................... 340,000 905,000 1,245,000 52,080,000 98.30% 1,345,450 2034 ........................................... 0 900.000 900.000 52,980,000 100.00% 945.000 Total ......................................... $42,840,000 $10,140,000 $52,980,000 $60,799,195 Notes: (1) Source: the City. (2) Afterthe June 1, 2024 principal payments on the outstanding debt. (3) Subject to change. The remainder of this page was left blank intentionally. 15 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Statement of Bonded Indebtedness(])(2) City Actual Value, January 1, 2022 ...................... City Taxable Value, January 1, 2022 ................... ........................ $7,368,329,010 ........................ $4,360,283,037 Per Capita Per Capita Actual Value $98,470.21 PerCapita Taxable Value.................................................................................................................................................................................. $58,270.74 Notes: (1) Source: the City, Audited Financial Statements and Treasurer of the State of Iowa - Outstanding Obligations Report, debt as of June 30, 2022 for the School Districts, Community College and County. (2) As ofthe date of issuance forthe Direct Bonded Debt and June 30, 2022 for Overlapping Debt. (3) Subject to change. (4) Excludes $43,925,000 in Industrial New Jobs Training Certificates, which are expected to be paid by proceeds from anticipated job credits from withholding taxes. Other Obligations Revenue Debt Payable from Net Revenues ofthe Municipal Water System: Series 2016D.................................................................. $ 525,000 Series 2017C 1.355.000 Total(1)(2)..................................................................... $1,880,000 Notes: (1) Source: the City. (2) After the June 1, 2024 principal payments. PROPERTY ASSESSMENT AND TAX INFORMATION Property Tax Assessment In compliance with Section 441.21 of the Iowa Code, the Director annually directs all county auditors to apply prescribed statutory percentages to the assessments of certain categories of real property. The final values, called Actual Valuation, are then adjusted by the County Auditor. Assessed or Taxable Valuation subject to tax levy is then determined by the application of State determined rollback percentages, principally to residential property and commercial property. Beginning in 1978, the State required a reduction in Actual Valuation to reduce the impact of inflation on its residents. The resulting value is defined as the Assessed or Taxable Valuation. Such rollback percentages may be changed in future years. Certain historical rollback percentages for residential, multi -residential, agricultural and commercial valuations are as follows: 16 Applicable Ratio to City Ratio to City (2020 Pop. Total Percent Amount Actual Value Taxable Value 74,828) Direct Bonded Debt(3) $ 52,980,000 100.00% $ 52,980,000 0.72% 1.22% $ 708.02 TIF Revenue Debt ......................................... 9,925,000 100.00% 9,925,000 0.13% 0.23% 132.64 Overlapping Debt: Iowa City Community School District ............. $156,815,000 58.10% 91,109,515 1.26% 2.08% 1,217.59 Clear Creek-Amana Community School Dist. 75,150,000 0.03% 22,545 0.00% 0.00% 0.30 Kirkwood Community College(4)................... 124,495,000 14.38% 17,902,381 0.25% 0.41% 239.25 Johnson County ............................................ 25,563,000 42.40% 10.838.712 0.15% 0.25% 144.85 Total Applicable Overlapping Bonded Debt ...............................................$119.873.153 1.660/. 2.74% $1,601.99 Total Direct and Overlapping Bonded Debt(3) $182,778,153 2.54% 4.20% $2,442.65 Per Capita Actual Value $98,470.21 PerCapita Taxable Value.................................................................................................................................................................................. $58,270.74 Notes: (1) Source: the City, Audited Financial Statements and Treasurer of the State of Iowa - Outstanding Obligations Report, debt as of June 30, 2022 for the School Districts, Community College and County. (2) As ofthe date of issuance forthe Direct Bonded Debt and June 30, 2022 for Overlapping Debt. (3) Subject to change. (4) Excludes $43,925,000 in Industrial New Jobs Training Certificates, which are expected to be paid by proceeds from anticipated job credits from withholding taxes. Other Obligations Revenue Debt Payable from Net Revenues ofthe Municipal Water System: Series 2016D.................................................................. $ 525,000 Series 2017C 1.355.000 Total(1)(2)..................................................................... $1,880,000 Notes: (1) Source: the City. (2) After the June 1, 2024 principal payments. PROPERTY ASSESSMENT AND TAX INFORMATION Property Tax Assessment In compliance with Section 441.21 of the Iowa Code, the Director annually directs all county auditors to apply prescribed statutory percentages to the assessments of certain categories of real property. The final values, called Actual Valuation, are then adjusted by the County Auditor. Assessed or Taxable Valuation subject to tax levy is then determined by the application of State determined rollback percentages, principally to residential property and commercial property. Beginning in 1978, the State required a reduction in Actual Valuation to reduce the impact of inflation on its residents. The resulting value is defined as the Assessed or Taxable Valuation. Such rollback percentages may be changed in future years. Certain historical rollback percentages for residential, multi -residential, agricultural and commercial valuations are as follows: 16 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Percentages for Taxable Valuation After Rollbacks(]) Notes: (1) Source: the Iowa Department of Revenue. (2) In assessment year 2023 (applicable to fiscal year 2024/25 valuations), the taxable value rollback rate is 46.3428% of actual value for residential property; 71.8370% of actual value for agricultural property and 100.0000% of the actual value of utility property. The residential taxable rollback rate of 46.3428% applies to the value of each property unit of commercial, industrial and railroad property that exceeds zero dollars ($0), but does not exceed one hundred fifty thousand dollars ($150,000), with a taxable value rollback rate of 90.0000% to the value that exceeds one hundred fifty thousand dollars ($150,000). Property is assessed on a calendar year basis. The assessments finalized as of January 1 of each year are applied to the following fiscal year. For example, the assessments finalized on January 1, 2022, are used to calculate tax liability for the tax year starting July 1, 2023 through June 30, 2024. Building Permits New construction building permits valuation have averaged $119,865,771 annually over the last 4 years in the City, excluding the value of land. City Building Permits(]) (Excludes the Value of Land) Calendar Year: 2020 New Construction No. of New Permits .................................... 120 Valuation: $51,863,761 Remodeling Repair and Additions: No. of New Permits :................................... 430 Valuation :.................................................. $35.438.412 Total Permits .................. Total Valuations .............. Notes: (1) Source: the City. (2) As of February 2024. Property Tax Collection .......... 550 .......... $87,302,173 2021 2022 2023 Multi- Ag Land Commercial 5 Fiscal Year Residential Residential & Buildings & Industrial 421 2016/17 ................ 55.6259% $ 39.023.795 86.2500% 46.1068% $2.013.031 90.0000% 543 2017/18 ................ 56.9391% $135,490,586 82.5000% 47.4996% $6,648,231 90.0000% 2018/19 ................ 55.6209% 78.7500% 54.4480% 90.0000% 2019/20 ................ 56.9180% 75.0000% 56.1324% 90.0000% 2020/21 ................ 55.0743% 71.2500% 81.4832% 90.0000% 2021/22 ................ 56.4094% 67.5000% 84.0305% 90.0000% 2022/23 ................ 54.1302% 63.7500% 89.0412% 90.0000% 2023/24 ................ 54.6501% n/a 91.6430% 90.0000% 2024/25 ................ 46.3428% n/a 71.8370% 90.0000% Notes: (1) Source: the Iowa Department of Revenue. (2) In assessment year 2023 (applicable to fiscal year 2024/25 valuations), the taxable value rollback rate is 46.3428% of actual value for residential property; 71.8370% of actual value for agricultural property and 100.0000% of the actual value of utility property. The residential taxable rollback rate of 46.3428% applies to the value of each property unit of commercial, industrial and railroad property that exceeds zero dollars ($0), but does not exceed one hundred fifty thousand dollars ($150,000), with a taxable value rollback rate of 90.0000% to the value that exceeds one hundred fifty thousand dollars ($150,000). Property is assessed on a calendar year basis. The assessments finalized as of January 1 of each year are applied to the following fiscal year. For example, the assessments finalized on January 1, 2022, are used to calculate tax liability for the tax year starting July 1, 2023 through June 30, 2024. Building Permits New construction building permits valuation have averaged $119,865,771 annually over the last 4 years in the City, excluding the value of land. City Building Permits(]) (Excludes the Value of Land) Calendar Year: 2020 New Construction No. of New Permits .................................... 120 Valuation: $51,863,761 Remodeling Repair and Additions: No. of New Permits :................................... 430 Valuation :.................................................. $35.438.412 Total Permits .................. Total Valuations .............. Notes: (1) Source: the City. (2) As of February 2024. Property Tax Collection .......... 550 .......... $87,302,173 2021 2022 2023 2024(2) 159 122 86 5 $ 96,466,791 $117,011,149 $214,121,385 $4,635,200 421 421 407 45 $ 39.023.795 $ 35.704.172 $ 61.280.189 $2.013.031 580 543 493 50 $135,490,586 $152,715,321 $275,401,574 $6,648,231 Each county is required by State law to collect all tax levies within its jurisdiction and remit, before the fifteenth of each month, the amount collected through the last day of the preceding month to underlying units of government, including the City. Property tax payments are made at the office of each county treasurer in full or one-half by September 30 and March 31, pursuant to the Code of Iowa, Sections 445.36 and 445.37. Where the first half of any property tax has not been paid by October 1, such installment becomes delinquent. If the second installment is not paid, it becomes delinquent on April 1. Delinquent taxes and special assessments are subject to a penalty at the rate of one and one-half percent per month, to a maximum of eighteen percent per annum. 17 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 If taxes are not paid when due, the property may be offered at the regular tax sale on the third Tuesday of June following the delinquency date. Purchasers at the tax sale must pay an amount equal to the taxes, special assessments, interest and penalties due on the property, and funds so received are applied to the payment of taxes. A property owner may redeem from the regular tax sale, but failing redemption within two years, the tax sale purchaser is entitled to a deed which in general conveys the title free and clear of all liens except fixture installments of taxes. Property Valuations and Trend of Valuations Actual (1001/6) Valuations for the City(1)(2) Property Valuations and Trend of Valuations Taxable ("Rollback') Valuations for the City(1)(2) For the January 1, 2023 levy year, the City's Taxable Valuation was comprised of approximately 74% residential, 24% commercial, 2% industrial, 1% utilities and less than 1% agriculture, railroad and military exemption. Fiscal Year. 2020/21 2021/22 2022/23 2023/24 Preliminary Fiscal Year: 2020/21 2021/22 2022/23 2023/24 2024/25 Property Class Levy Year. 2019 2020 2021 2022 2023 Residential $4,995,816,750 $5,140,954,110 $5,365,850,652 $6,006,505,164 $7,206,202,564 Agricultural 1,748,000 1,727,980 1,574,220 1,650,370 1,789,188 Commercial 1,104,820,749 1,115,028,021 1,107,017,980 1,116,138,451 1,248,152,812 Industrial 80,669,700 80,001,410 79,499,810 79,655,130 87,930,360 Multi-residential(3) --------------------------------------------- 548,053,873 549,444,612 554,767,665 0 0 Railroads 4,488,469 4,072,190 4,380,355 4,628,817 5,041,874 Utilities without Gas and Electric(4) 6,152,547 4,339,508 2,779,716 269,478 276,868 Gas and Electric Utility(4) 118,583,613 126,171,274 134,787,151 161,652,144 173,705,884 Less: Military Exemption ................................... (2.435.380) (2.392.784) (2.261.292) (2.170.544) (15.743.678) Total................................................................ $6,857,898,321 $7,019,346,321 $7,248,396,257 $7,368,329,010 $8,707,355,872 Percent Change +(-) ........................................ 11.81%(5) 2.35% 3.26% 1.65% 18.17% Notes: (1) Source: Iowa Department of Management. (2) Includes tax increment finance (TIF) valuations. (3) Included in Residential Property Class starting with January 1, 2022 valuations. (4) See "PROPERTY ASSESSMENT AND TAX INFORMATION - Utility Property Tax Replacement" herein. (5) Based on 2018 Actual Valuation of $6,133,570,208. Property Valuations and Trend of Valuations Taxable ("Rollback') Valuations for the City(1)(2) For the January 1, 2023 levy year, the City's Taxable Valuation was comprised of approximately 74% residential, 24% commercial, 2% industrial, 1% utilities and less than 1% agriculture, railroad and military exemption. Fiscal Year. 2020/21 2021/22 2022/23 2023/24 Property Class Levy Year. 2019 2020 2021 2022 Residential........................................................ $2,751,410,912 $2,899,981,623 $2,904,545,542 $3,282,561,510 Agricultural 1,424,328 1,452,029 1,401,705 1,512,444 Commercial 994,338,692 1,003,525,240 996,316,203 959,563,607 Industrial 72,602,730 72,001,269 71,549,829 70,894,250 Multi-residential(3). 390,488,458 370,875,229 353,664,442 0 Railroads........................................................... 4,039,622 3,664,971 3,942,320 4,150,574 Utilities without Gas and Electric(4) 6,152,547 4,276,538 2,779,716 269,478 Gas and Electric Utility(4) 40,156,239 40,595,608 44,017,962 43,501,718 Less: Military Exemption ................................... (2.435.380) (2.392.784) (2.261.292) (2.170.544) Total................................................................ $4,258,178,148 $4,393,979,723 $4,375,956,427 $4,360,283,037 Percent Change +(-) ........................................ 8.54%(5) 3.19% (0.41%) (0.36%) Notes: (1) Source: Iowa Department of Management (2) Includes tax increment finance (TIF) valuations. (3) Included in Residential Property Class starting with January 1, 2022 valuations. (4) See "PROPERTY ASSESSMENT AND TAX INFORMATION -Utility Property Tax Replacement" herein. (5) Based on 2018 Taxable Valuation of $3,923,114,214. The remainder of this page was left blank intentionally. LU Preliminary 2024/25 2023 $3,339,555,748 1,285,294 1,067,462,656 78,155,039 0 4,518,715 276,868 41,986,461 (15.743.678) $4,517,497,103 3.61% City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Levies and Tax Collections(]) (Amounts Expressed in Thousands) The following shows the trend in the City's tax extensions and collections. Levy Fiscal Amount Amount Percent Year Year Levied Collected(2) Collected 2013 ----------------- 2014-15---------------- $51,609 $51,295 99.39% 2014 ----------------- 2015-16---------------- 52,034 52,074 100.08% 2015 ----------------- 2016-17................ 55,330 55,331 100.00% 2016 ----------------- 2017-18................ 56,458 56,347 99.80% 2017 ----------------- 2018-19---------------- 59,174 59,254 100.14% 2018 ----------------- 2019-20---------------- 60,297 58,972 97.80% 2019 ----------------- 2020-21---------------- 65,849 66,714 101.31% 2020 ................. 2021-22 ................ 66,912 67,104 100.29% 2021 ................. 2022-23 ................ 66,474 66,262 99.68% 2022 ----------------- 2023-24................ 66,313 - - In Collections - - Notes: (1) Source: the State of Iowa Department of Management and the City. Does not include Levies or Collections for Utility Replacement. Does not include levies and collections for the City's tax increment finance district. (2) Includes delinquent taxes. Larger Taxpayers(]) (amounts expressed in thousands) Notes: (1) Source: the City. (2) Every effort has been made to seek out and report the larger taxpayers. However, many of the taxpayers listed contain multiple parcels and it is possible that some parcels and their valuations have been overlooked. The remainder of this page was left blank intentionally. 19 Levy Year 2022 Taxpayer Name Business/Service Taxable Valuation(2) Rise at Riverfront Crossings, LLC..........................................Apartments.......................................................... $ 30,192 BBCS-Hawkeye Housing LLC ............................................... Real Estate Management/Apartments.................. 27,489 MidAmerican Energy.............................................................Utility.................................................................... 27,058 American College Testing, Inc (aka ACT, Inc.)......................Commercial Property........................................... 26,115 Tailwind Iowa City, LLC .........................................................Real Estate Development.................................... 23,782 1201 Gilbert, LLC..................................................................Residential Property............................................. 23,451 Hollingsworth Capital Partners Iowa LLC ............................... Real Estate Developer......................................... 22,242 Dealer Properties IC LLC ......................................................Auto Dealerships ................................................. 20,147 Procter & Gamble LLC........................................................... Manufacturing...................................................... 16,897 Webber— Iowa LLC............................................................... Real Estate.......................................................... 15.850 Total................................................................................................................................................................. $233,223 Ten Larger Taxpayers as Percent of City's 2022 Taxable Valuation ($4,360,283,037) ...................................... 5.33% Notes: (1) Source: the City. (2) Every effort has been made to seek out and report the larger taxpayers. However, many of the taxpayers listed contain multiple parcels and it is possible that some parcels and their valuations have been overlooked. The remainder of this page was left blank intentionally. 19 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Tax Rates Levy Years 2018 - 2022(1)(2) (Per $1,000 Actual Valuation) Tax Levy Procedures The Bonds are general obligations of the City, payable from and secured by a continuing ad valorem tax levied against all of the taxable real property within the corporate limits of the City. As part of the budgetary process each fiscal year, the City will have an obligation to request a debt service levy to be applied against all of the taxable real property within the corporate limits of the City. A failure on the part of the City to make a timely levy request or a levy request by the City that is inaccurate or is insufficient to make full payments of the debt service of the Bonds for a particular fiscal year may cause Bond holders to experience delay in the receipt of distributions of principal of and/or interest on the Bonds. In the event of a default in the payment of principal of or interest on the Bonds, there is no provision for acceleration of maturity of the principal of the Bonds. Consequently, the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the resolution for the Bonds) may have to be enforced from year to year. Notwithstanding the foregoing, Iowa Code section 76.2 provides when an Iowa political subdivision issues general obligation bonds, "the governing authority of these political subdivisions before issuing bonds shall, by resolution, provide for the assessment of an annual levy upon all the taxable property in the political subdivision sufficient to pay the interest and principal of the bonds within a period named not exceeding twenty years. A certified copy of this resolution shall be filed with the county auditor or auditors of the counties in which the political subdivision is located; and the filing shall make it a duty of the auditor(s) to enter annually this levy for collection from the taxable property within the boundaries of the political subdivision until funds are realized to pay the bonds in full." Utility Property Tax Replacement Property owned by entities involved primarily in the production, delivery, service and sale of electricity, natural gas and rate -regulated water utilities ("Utilities") pay a replacement tax based upon the delivery of energy by Utilities in lieu of property taxes. All replacement taxes are allocated among local taxing bodies by the State Department of Revenue and the Department of Management. This allocation is made in accordance with a general allocation formula developed by the Department of Management on the basis of general property tax equivalents. Utility properties paying the replacement tax are exempt from the levy of property tax by political subdivisions. In addition to the replacement tax, Utility property will continue to be valued by a special method as provided in the statute and taxed at the rate of three cents per one thousand dollars for the general fixed of the State. 90 Fiscal Year: 2019/20 2020/21 2021/22 2022/23 2023/24 Levy Year: 2018 2019 2020 2021 2022 City: General Fund ..................................................... $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 Emergency Levy ................................................. 0.00000 0.24000 0.24000 0.20000 0.20000 Debt Service Fund .............................................. 2.97846 2.57846 2.47846 2.47846 2.47846 Employee Benefits ............................................. 3.24415 3.34415 3.34415 3.34415 3.34415 Capital Improvement .......................................... 0.00000 0.00000 0.00000 0.00000 0.00000 Other.................................................................. 1.51044 1.51044 1.51044 1.51044 1.51044 Total City.......................................................... $15.83305 $15.77305 $15.67305 $15.63305 $15.63305 Johnson County ................................................. $ 6.49278 $ 6.34581 $ 6.16774 $ 6.04075 $ 6.06180 Iowa City School District ..................................... 14.79097 14.83935 14.85066 14.93382 16.27411 Kirkwood Community College ............................. 1.21331 1.25730 1.31195 1.34462 1.39550 Other.................................................................. 0.27066 0.33110 0.32744 0.30673 0.29613 Total Tax Rate(3)............................................. $38.60077 $38.54661 $38.33084 $38.25897 $39.66059 Notes: (1) Source: Iowa Department of Management. (2) Does not include the tax rate for agriculture. (3) Taxpayers in the Iowa City Community School District area. Tax Levy Procedures The Bonds are general obligations of the City, payable from and secured by a continuing ad valorem tax levied against all of the taxable real property within the corporate limits of the City. As part of the budgetary process each fiscal year, the City will have an obligation to request a debt service levy to be applied against all of the taxable real property within the corporate limits of the City. A failure on the part of the City to make a timely levy request or a levy request by the City that is inaccurate or is insufficient to make full payments of the debt service of the Bonds for a particular fiscal year may cause Bond holders to experience delay in the receipt of distributions of principal of and/or interest on the Bonds. In the event of a default in the payment of principal of or interest on the Bonds, there is no provision for acceleration of maturity of the principal of the Bonds. Consequently, the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the resolution for the Bonds) may have to be enforced from year to year. Notwithstanding the foregoing, Iowa Code section 76.2 provides when an Iowa political subdivision issues general obligation bonds, "the governing authority of these political subdivisions before issuing bonds shall, by resolution, provide for the assessment of an annual levy upon all the taxable property in the political subdivision sufficient to pay the interest and principal of the bonds within a period named not exceeding twenty years. A certified copy of this resolution shall be filed with the county auditor or auditors of the counties in which the political subdivision is located; and the filing shall make it a duty of the auditor(s) to enter annually this levy for collection from the taxable property within the boundaries of the political subdivision until funds are realized to pay the bonds in full." Utility Property Tax Replacement Property owned by entities involved primarily in the production, delivery, service and sale of electricity, natural gas and rate -regulated water utilities ("Utilities") pay a replacement tax based upon the delivery of energy by Utilities in lieu of property taxes. All replacement taxes are allocated among local taxing bodies by the State Department of Revenue and the Department of Management. This allocation is made in accordance with a general allocation formula developed by the Department of Management on the basis of general property tax equivalents. Utility properties paying the replacement tax are exempt from the levy of property tax by political subdivisions. In addition to the replacement tax, Utility property will continue to be valued by a special method as provided in the statute and taxed at the rate of three cents per one thousand dollars for the general fixed of the State. 90 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 By statute, the replacement tax collected by the State and allocated among local taxing bodies (including the City) shall be treated as property tax when received and shall be disposed of by the county treasurer as taxes on real estate. It is possible that the general obligation debt capacity of the City could be adjudicated to be proportionately reduced in fixture years if Utility property were determined to be other than "taxable property" for purposes of computing the City's debt limit under Article XI of the Constitution of the State of Iowa. There can be no assurance that future legislation will not (i) operate to reduce the amount of debt the City can issue or (ii) adversely affect the City's ability to levy taxes in the fixture for the payment of the principal of and interest on its outstanding debt obligations, including the Bonds. Approximately 1% of the City's levy year 2023 taxable valuation currently is utility property. Tax Increment Financing The Code of Iowa currently authorizes the use of two types of tax increment financing by local taxing districts in the State of Iowa. The first type allows local governments to establish TIF districts for the purposes of financing designated urban renewal projects which contribute to the urban redevelopment and economic development of the immediate area. The taxable valuation used for this type of TIF district in the City for levy year 2023 is $137,141,542. The second type of tax increment financing was authorized by state legislative action in the mid -1980's. The area community colleges can establish TIF districts by contract with specific local businesses and industries to provide jobs training programming for new employees of existing expanding businesses or employees of new businesses. The revenues from these job training TIF districts then retires the debt incurred from the issuance of jobs training certificates which finance the cost of jobs training programming over a maximum of ten years. Upon payment of all jobs training certificates, the district dissolves and the incremental value from the new or expanded business reverts to the general tax base. There is no current valuation for this second type of TIF district. Property Tax Legislation Over time, the Iowa Legislature has modified the process and calculation of taxable valuations for various classifications of property. For example, in 2013 maximum annual taxable value growth due to revaluation of residential and agricultural property was reduced from 4% to 3%, rollback calculations were modified, a new multi -residential classification was created, and an appropriation made to replace some lost tax revenue due to rollbacks. In 2019, the process for hearings on total maximum property tax dollars under certain levies in the City's budget was modified and a super - majority vote required to raise taxes above a prescribed formula. In 2021, the multi -residential classification was removed, and a phase out of the appropriation for rollback initiated. In 2023, SF 181 was signed into law by the Governor on February 20, 2023, effective upon enactment. SF 181 reduced the residential rollback for the 2022 assessment year (affecting Fiscal Year 2023/24) from 56.4919%to 54.6501%. This resulted in a reduction in taxable valuation in the residential, commercial, industrial and railroad property classes upon which the City levies property taxes for Fiscal Year 2023/24. On May 4, 2023, the Governor signed House File 718 ("HF 718"), a property tax reform law aimed at reducing property tax growth in Iowa. Among other things, HF 718 permanently consolidates several existing city property tax levies and creates a new adjusted city general fund levy ("ACGFL"). To control the growth of property taxes, the new ACGFL is subject to potential limitation or reduction by constraining growth by 2% or 3% each year depending on if certain growth triggers are met or exceeded during the prior year. The levy limitation is only applicable Fiscal Year 2024/25 through Fiscal Year 2027/28 and will be specific to each city. For Fiscal Year 2023/24, the City will calculate the new ACGFL as the baseline rate and the first annual ACGFL adjustment will begin Fiscal Year 2024/25. The ACGFL rates for Fiscal Years 2024/25 through 2027/28 are based on growth in city taxed value and the previous year's city tax rate. Beginning in Fiscal Year 2028/29, all cities go to a $8.10 ACGFL maximum and the levy limitation calculation ceases. Certain levies like debt service, pensions, employee benefits and capital improvement reserve fund are not included in the new ACGFL limitation. The City's recent property valuation growth has, on occasion, exceeded the new legislative caps. Assuming the City exceeds the legislative caps in the future, the City's general fund levies will lag its relative valuation growth. For Fiscal Year 2024/25, the City's non TIF tax valuation growth was 3.66% causing the City's ACGFL growth to be mitigated to 1.62%. The City's Budget for Fiscal Year 2024/25 will accommodate this reduced tax revenue relative to its non TIF tax valuation growth. 21 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 From time to time, legislative proposals are pending in Congress and the Iowa General Assembly that would, if enacted, alter or amend one or more of the property tax matters described herein. It cannot be predicted whether or in what forms any of such proposals, either pending or that may be introduced, may be enacted, and there can be no assurance that such proposals will not apply to valuation, assessment or levy procedures for taxes levied by the City or have an adverse impact on standing appropriations or the future tax collections of the City. Purchasers of the Bonds should consult their tax advisors regarding any pending or proposed federal or state tax legislation. The opinions expressed by Bond Counsel are based upon existing legislation as of the date of issuance and delivery of the Bonds and Bond Counsel has expressed no opinion as of any date subsequent thereto or with respect to any pending federal or state tax legislation. Notwithstanding any modifications to property tax revenues that may result from prior, or any pending or future legislation, the Bonds are secured by an unlimited ad valorem property tax. See "SECURITY AND SOURCE OF PAYMENT" herein. Fffh:► IU 1 tu: 1► Financial Reports The City's financial statements are audited annually by certified public accountants. The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. The accounting policies of the City conform to accounting principles generally accepted in the United States of America as applicable to governments. See APPENDIX A for more detail. No Consent or Updated Information Requested of the Auditor The tables and excerpts (collectively, the "Excerpted Financial Information") contained in this "FINANCIAL INFORMATION" section are from the audited financial statements of the City, including the audited financial statements for the fiscal year ended June 30, 2023 (the "2023 ACFR'). The 2023 Audit has been prepared by Bohnsack & Frommelt LLP, Certified Public Accountants, Moline, Illinois, (the "Auditor"), and received by the City Council. The City has not requested the Auditor to update information contained in the Excerpted Financial Information and the 2023 ACFR; nor has the City requested that the Auditor consent to the use of the Excerpted Financial Information and the 2023 ACFR in this Official Statement. The inclusion of the Excerpted Financial Information and the 2023 ACFR in this Official Statement in and of itself is not intended to demonstrate the fiscal condition of the City since the date of the 2023 ACFR. Questions or inquiries relating to financial information of the City since the date of the 2023 ACFR should be directed to the City. Summary Financial Information The following tables are summaries and do not purport to be the complete audits, copies of which are available upon request. See APPENDIX A for the City's 2023 ACFR. The City's expects its General Fund balance for the fiscal year ending June 30, 2024 to increase by approximately $3,700,000. To date, revenues and expenditures are generally within budgeted amounts. The City has approved a budget for fiscal year 2025 with an anticipated decrease to the General Fund balance of approximately $11,700,000. The remainder of this page was left blank intentionally. 22 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Statement of Net Position Governmental Activities(]) (Amounts Expressed in Thousands) (continued on following page) 23 Audited as of June 30 2019 2020 2021 2022 2023 Assets: Equity in Pooled Cash and Investments $111,645 $113,883 $130,934 $147,916 $149,259 Receivables: Property Tax 60,529 66,479 67,644 66,659 66,779 Accounts and Unbilled Usage 941 707 1,002 904 829 Interest 967 547 76 60 560 Notes 5,209 5,300 5,141 4,793 5,331 Internal Balances (20,055) (22,551) (24,229) (25,980) (27,097) Lease Receivable 0 0 0 98 56 Due from Other Governments 7,584 7,125 5,651 7,486 7,270 Prepaids and Other Assets 907 13 0 0 0 Inventories 650 793 786 935 900 Assets Held for Resale 689 480 400 1,820 2,058 Restricted Assets: Equity in Pooled Cash and Investments 18,553 19,743 25,056 30,330 32,632 Capital Assets: Land and Construction in Progress .......................................... 51,291 41,160 38,054 42,344 52,348 Other Capital Assets (Net of Accumulated Depreciation and Amortization)................................................................. 210.302 232.717 240.561 234.488 232.647 Total Assets........................................................................... $449,212 $466,396 $491,076 $511,853 $523,572 Deferred Outflows of Resources: Pension Related Deferred Outflows $ 11,255 $ 10,119 $ 12,833 $ 6,941 $ 7,164 OPEB Related Deferred Outflows 1.467 1.302 1.628 1.381 1.155 Total Deferred Outflows of Resources $ 12,722 $ 11,421 $ 14,461 $ 8,322 $ 8,319 Liabilities: Accounts Payable $ 3,399 $ 3,494 $ 2,913 $ 3,619 $ 2,933 Contracts Payable 5,864 3,725 2,840 4,131 3,993 Accrued Liabilities 5,231 5,558 5,958 5,803 3,902 Interest Payable 151 158 163 172 180 Deposits 1,008 1,222 1,124 1,136 1,381 Advances from Grantors 98 3 9,470 16,830 14,293 Due to Other Governments 31 38 45 34 35 Notes Payable 602 0 0 0 0 Noncurrent Liabilities: Due Within One Year: Employee Vested Benefits 1,308 1,525 1,546 1,461 1,483 Subscription Liability 0 0 0 0 135 Bonds Payable 11,534 11,119 11,536 11,463 11,512 Due in More Than One Year. Employee Vested Benefits 1,012 1,206 1,204 1,127 1,146 Subscription Liability 0 0 0 0 182 Net Pension Liability 38,890 39,796 47,299 8,291 29,470 Other Post Employment Benefits Liability 6,401 6,253 7,030 5,796 6,228 Notes Payable 211 211 211 211 211 Bonds Payable 56.771 58.653 57.931 57.180 55.587 Total Liabilities $132,511 $132,961 $149,270 $117,254 $132,671 Deferred Inflows of Resources: Pension Related Deferred Inflows $ 1,940 $ 3,045 $ 1,253 $ 27,830 $ 2,919 OPEB Related Deferred Inflows 216 560 492 1,828 1,696 Lease Related Deferred Inflows 0 0 0 98 56 Succeeding Year Property Taxes 60.296 65.850 66.912 66.475 66.312 Total Deferred Inflows of Resources 62,452 69,455 68,657 96,231 70,983 (continued on following page) 23 City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Statement of Net Position Governmental Activities(]) (Amounts Expressed in Thousands) (continued from previous page) Net Position: Net Investment in Capital Assets Restricted for or by: Employee Benefits................................................................... Capital Projects: Expendable(2) Nonexpendable(2) Debt Service Police Other Purposes Expendable Nonexpendable Grant Agreement Unrestricted............................................................................... Total Net Position.................................................................. Notes: (1) Source: Audited financial statements of the City for the fiscal years ended June 30, 2019 through 2023. (2) For fiscal year 2019 amount is classified as expendable. Statement of Activities Governmental Activities(]) (Amounts Expressed in Thousands) Audited as of June 30 2019 2020 2021 2022 2023 $208,028 $220,004 $228,418 $230,285 $235,218 4,249 3,875 3,973 4,446 4,655 17,020 11,464 12,266 13,180 15,019 0 278 218 243 269 9,514 9,590 7,388 7,190 7,246 214 294 271 285 260 4,359 4,552 6,300 8,473 9,217 0 69 69 69 69 3,463 3,456 3,179 3,014 3,313 20.124 $266.971 21.819 $275.40.1 25.528 $287.610 39.505 $306.690 52.971 $328.232 Notes: (1) Source: Audited financial statements of the City for the fiscal years ended June 30, 2019 through 2023. (2) For fiscal year 2019 amount is classified as expendable. Statement of Activities Governmental Activities(]) (Amounts Expressed in Thousands) Net Position End of Year........................................................... $266.971 $275.401 $287614 $ Note: (1) Source: Audited financial statements ofthe City for the fiscal years ended June 30, 2019 through 2023 The remainder of this page was left blank intentionally. VAJ Audited for the Year Ended June 30 2019 2020 2021 2022 2023 Function/Programs: Governmental Activities: Public Safety........................................................................... $ (20,862) $ (22,728) $ (25,853) $ (18,337) $ (21,081) Public Works........................................................................... (2,516) (4,737) (2,958) (3,039) (6,012) Culture and Recreation............................................................ (14,834) (15,451) (15,442) (15,902) (16,892) Community and Economic Development (14,116) (7,760) (4,792) (4,275) (6,551) General Government............................................................... (5,807) (6,137) (8,757) (5,677) (6,907) Interest on Long -Term Debt. (1.444) (1.452) (1.561) (1.553) (1.622) Total Governmental Activities ................................................ $(59,579) $(58,265 $(59,363) $(48,783 $(59,065) General Revenues: Property Taxes, Levied for General Purposes ......................... $ 61,739 $ 62,846 $ 69,482 $ 70,678 $ 70,824 Hotel/Motel Tax....................................................................... 1,302 1,135 938 1,708 1,885 Gas and Electric Tax............................................................... 668 677 644 684 784 Utility Franchise Tax................................................................ 965 884 994 1,149 1,117 Grants and Contributions Not Restricted to Specific Purposes. 1,552 1,513 1,587 1,555 1,244 Earnings (loss) on Investments ................................................ 3,257 2,585 841 (544) 4,325 Gain on Disposal of Capital Assets 186 111 213 257 1,242 Miscellaneous.......................................................................... 3,329 3,331 3,030 3,524 3,984 Transfers................................................................................... (8.661) (6.387) (6.157) (11.148) (4.876) Total General Revenues and Transfers 64,337 66,695 71,572 67,863 80,529 Changes in Net Position $ 4,758 $ 8,430 $ 12,209 $ 19,080 $ 21,464 Net Position Beginning of Year 262.213 266.971 275.401 287.610 306.773 Net Position End of Year........................................................... $266.971 $275.401 $287614 $ Note: (1) Source: Audited financial statements ofthe City for the fiscal years ended June 30, 2019 through 2023 The remainder of this page was left blank intentionally. VAJ City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Balance Sheet General Fund(]) (Amounts Expressed in Thousands) Assets: Equity in Pooled Cash and Investments Receivables: Property Taxes Accounts and Unbilled Usage Interest Notes Due from Other Funds Lease Receivable Advances to Other Funds Due from Other Governments Prepaid Item Assets Held for Resale Restricted Assets: Equity in Pooled Cash and Investments Total Assets Liabilities, Deferred Infiows of Resources and Fund Balance: Liabilities: Accounts Payable.................................................................... Accrued Liabilities Due to Other Governments Interest Payable Notes Payable Liabilities Payable from Restricted Assets: Deposits Advances from Grantors Total Liabilities 2.028 $88 2.209 $9QJ_fl84 Audited as of June 30 3.348 $108441 2019 2020 2021 2022 2023 $38,979 $42,371 $51,870 $ 57,398 $ 57,640 36,301 40,081 40,959 40,442 40,444 491 355 508 508 534 360 163 24 14 183 1,329 1,252 1,073 976 1,288 0 299 174 0 214 0 0 0 39 16 56 0 0 0 0 2,131 3,661 2,080 2,764 2,716 818 13 0 0 0 689 480 400 1,820 2,058 2.028 $88 2.209 $9QJ_fl84 2.134 $99222 2.928 $19868886 3.348 $108441 $ 1,497 $ 1,356 $ 1,672 $ 2,217 $ 1,796 1,466 1,673 1,957 2,187 738 31 38 38 34 35 17 0 0 0 0 602 0 0 0 0 1,004 1,217 1,115 1,126 1,371 94 0 19 19 19 4,711 4,284 4,801 5,583 3,959 Deferred Inflows of Resources: Unavailable Revenues: Succeeding Year Property Taxes $36,176 $39,720 $40,568 $ 40,340 $ 40,187 Lease related deferred inflows 0 0 0 39 16 Grants.................................................................................... 34 1,791 4 328 304 Other...................................................................................... 1.643 1.716 1.628 1.769 1.939 Total Deferred Inflows of Resources $37,853 $43,227 $42,200 42,476 42,446 Fund Balance: Nonspendable $ 887 $ 549 $ 469 $ 1,889 $ 2,127 Restricted 1,808 1,747 1,455 2,015 2,310 Assigned 3,565 5,708 9,883 14,852 19,622 Unassigned 34.358 35.369 40.414 40.074 37.977 Total Fund Balance $40,618 $43,373 $52,221 58,830 62,036 Total Liabilities, Deferred Inflows of Resources and Fund Balance Note: (1) Source: Audited financial statements ofthe City for the fiscal years ended June 30, 2019 through 2023 The remainder of this page was left blank intentionally. tg City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Statement of Revenues, Expenditures and Changes in Fund Balance General Fund(]) (Amounts Expressed in Thousands) Fund Balance, Ending............................................................... $40618 $9.3.3.73 $52.221 Note: (1) Source: Audited financial statements of the City for the fiscal years ended June 30, 2019 through 2023 REGISTRATION, TRANSFER AND EXCHANGE See also APPENDIX B - BOOK ENTRY -ONLY ISSUANCE for information on registration, transfer and exchange of book -entry bonds. The Bonds will be initially issued as book -entry bonds. The City shall cause books for the registration and for the transfer of the Bonds to be kept at the principal office maintained for the purpose by U.S. Bank Trust Company, National Association, St. Paul, Minnesota (the `Bond Registrar'). The City will authorize to be prepared, and the Bond Registrar shall keep custody of, multiple bond blanks executed by the City for use in the transfer and exchange of Bonds. Any Bond may be transferred or exchanged, but only in the manner, subject to the limitations, and upon payment of the charges as set forth in the Resolution. Upon surrender for transfer or exchange of any Bond at the principal office maintained for the purpose by the Bond Registrar, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Bond Registrar and duly executed by the registered owner or such owner's attorney duly authorized in writing, the City shall execute and the Bond Registrar shall authenticate, date and deliver in the name of the registered owner, transferee or transferees (as the case may be) a new fully registered Bond or Bonds of the same maturity and interest rate of authorized denominations, for a like aggregate principal amount. The execution by the City of any fully registered Bond shall constitute full and due authorization of such Bond, and the Bond Registrar shall thereby be authorized to authenticate, date and deliver such Bond, provided, however, the principal amount of outstanding Bonds of each maturity authenticated by the Bond Registrar shall not exceed the authorized principal amount of Bonds for such maturity less Bonds previously paid. 901 Audited Fiscal Year Ended June 30 2019 2020 2021 2022 2023 Revenues: Taxes........................................................................................ $37,426 $38,087 $42,635 $43,691 $43,989 Licenses and Permits 2,981 2,352 2,541 2,786 2,854 Intergovem mental 4,099 4,009 5,924 4,046 3,918 Charges for Service 1,595 1,113 808 1,711 1,352 Fines and Forfeits 776 609 375 434 372 Use of Money and Property 1,599 1,102 456 33 1,591 Miscellaneous 1.950 2.031 1.688 1.694 2.163 Total Revenues $50,426 $49,303 $54,427 $54,395 $56,239 Expenditures: Current: Public Safety $23,858 $24,611 $24,764 $25,783 $26,923 Public Works........................................................................... 1,922 2,219 2,076 2,527 2,700 Cultural and Recreation 13,096 13,146 12,407 14,722 15,317 Community and Economic Development 3,561 3,678 3,487 3,325 3,556 General Government 6,144 6,336 6,676 7,310 7,777 Capital Outlay............................................................................ 1.718 2.088 1.828 1.291 1.436 Total Expenditures ...... -- .................... $50,299 $52,078 $51,238 $54,958 $57,709 Excess (Deficiency) of Revenues Over (Under) Expenditures ... 127 $(2,775 3,189 (563) (1.470) Other Financing Sources (Uses): Sale of Capital Assets............................................................... $ 758 $ 111 $ 233 $ 255 $ 129 Transfers In 11,548 12,578 12,567 14,167 13,034 Transfers Out............................................................................ (9.465) (7.159) (7.141) (7.250) (8.487) Total Other Financing Sources and (Uses) 2,841 5,530 5,659 7,172 4,676 Net Change in Fund Balance $ 2,968 $ 2,755 $ 8,848 $ 6,609 $ 3,206 Fund Balance, Beginning 37.650 40.618 43.373 52.221 58.830 Fund Balance, Ending............................................................... $40618 $9.3.3.73 $52.221 Note: (1) Source: Audited financial statements of the City for the fiscal years ended June 30, 2019 through 2023 REGISTRATION, TRANSFER AND EXCHANGE See also APPENDIX B - BOOK ENTRY -ONLY ISSUANCE for information on registration, transfer and exchange of book -entry bonds. The Bonds will be initially issued as book -entry bonds. The City shall cause books for the registration and for the transfer of the Bonds to be kept at the principal office maintained for the purpose by U.S. Bank Trust Company, National Association, St. Paul, Minnesota (the `Bond Registrar'). The City will authorize to be prepared, and the Bond Registrar shall keep custody of, multiple bond blanks executed by the City for use in the transfer and exchange of Bonds. Any Bond may be transferred or exchanged, but only in the manner, subject to the limitations, and upon payment of the charges as set forth in the Resolution. Upon surrender for transfer or exchange of any Bond at the principal office maintained for the purpose by the Bond Registrar, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Bond Registrar and duly executed by the registered owner or such owner's attorney duly authorized in writing, the City shall execute and the Bond Registrar shall authenticate, date and deliver in the name of the registered owner, transferee or transferees (as the case may be) a new fully registered Bond or Bonds of the same maturity and interest rate of authorized denominations, for a like aggregate principal amount. The execution by the City of any fully registered Bond shall constitute full and due authorization of such Bond, and the Bond Registrar shall thereby be authorized to authenticate, date and deliver such Bond, provided, however, the principal amount of outstanding Bonds of each maturity authenticated by the Bond Registrar shall not exceed the authorized principal amount of Bonds for such maturity less Bonds previously paid. 901 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 The Bond Registrar shall not be required to transfer or exchange any Bond following the close of business on the fifteenth day of the month next preceding an interest payment date on such bond (known as the record date), nor to transfer or exchange any Bond after notice calling such Bond for redemption has been mailed, nor during a period of fifteen days next preceding mailing of a notice of redemption of any Bonds. The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of the principal of or interest on any Bonds shall be made only to or upon the order of the registered owner thereof or such owner's legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. No service charge shall be made for any transfer or exchange of Bonds, but the City or the Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Bonds except in the case of the issuance of a Bond or Bonds for the unredeemed portion of a bond surrendered for redemption. TAX MATTERS Tax Exemption Federal tax law contains a number of requirements and restrictions that apply to the Bonds, including investment restrictions, periodic payments of arbitrage profits to the United States, requirements regarding the proper use of Bond proceeds and facilities financed with Bond proceeds, and certain other matters. The City has covenanted to comply with all requirements that must be satisfied in order for the interest on the Bonds to be excludable from gross income for federal income tax purposes. Failure to comply with certain of such covenants could cause interest on the Bonds to become includable in gross income for federal income tax purposes retroactively to the date of issuance of the Bonds. Subject to the City's compliance with the above -referenced covenants, under present law, in the opinion of Bond Counsel, interest on the Bonds is excludable from gross income for federal income tax purposes. Interest on the Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals; however, such interest is taken into account in determining the annual adjusted financial statement income of applicable corporations (as defined in Section 59(k) of the Code) for the purpose of computing the alternative minimum tax imposed on corporations for tax years beginning after December 31, 2022. Prospective purchasers of the Bonds should be aware that ownership of the Bonds may result in collateral federal income tax consequences to certain taxpayers, including, without limitation, corporations subject to the branch profits tax, financial institutions, certain insurance companies, certain S corporations, individual recipients of Social Security or Railroad Retirement benefits and taxpayers who may be deemed to have incurred (or continued) indebtedness to purchase or carry tax-exempt obligations Bond Counsel will not express any opinion as to such collateral tax consequences. Prospective purchasers of the Bonds should consult their tax advisors as to collateral federal income tax consequences. Interest on the Bonds is not exempt from present Iowa income taxes. Ownership of the Bonds may result in other state and local tax consequences to certain taxpayers. Bond Counsel expresses no opinion regarding any such collateral consequences arising with respect to the Bonds. Prospective purchasers of the Bonds should consult their tax advisors regarding the applicability of any such state and local taxes. NOT -Qualified Tax -Exempt Obligations: The City will NOT designate the Bonds as "qualified tax-exempt obligations" under the exception provided in Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the "Code"). 27 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Discount and Premium Bonds The initial public offering price of certain Bonds may be less than the amount payable on such Bonds at maturity ("Discount Bonds"). Purchasers of Discount Bonds should consult with their own tax advisors with respect to the determination of accrued original issue discount on Discount Bonds for federal income tax purposes and with respect to the state and local tax consequences of owning and disposing of Discount Bonds. It is possible that, under applicable provisions governing determination of state and local income taxes, accrued interest on Discount Bonds may be deemed to be received in the year of accrual even though there will not be a corresponding cash payment. The initial public offering price of certain Bonds may be greater than the amount of such Bonds at maturity ("Premium Bonds'). Purchasers of the Premium Bonds should consult with their own tax advisors with respect to the determination of amortizable premium on Premium Bonds for federal income tax purposes and with respect to the state and local tax consequences of owning and disposing of Premium Bonds. Other Tax Advice In addition to the income tax consequences described above, potential investors should consider the additional tax consequences of the acquisition, ownership, and disposition of the Bonds. For instance, state income tax law may differ substantially from state to state, and the foregoing is not intended to describe any aspect of the income tax laws of any state. Therefore, potential investors should consult their own tax advisors with respect to federal tax issues and with respect to the various state tax consequences of an investment in Bonds. Audits The Internal Revenue Service (the "Service") has an ongoing program of auditing tax-exempt obligations to determine whether, in the view of the Service, interest on such tax-exempt obligations is includable in the gross income of the owners thereof for federal income tax purposes. To the best of the City's knowledge, no obligations of the City are currently under examination by the Service. It cannot be predicted whether or not the Service will commence an audit of the Bonds. If an audit is commenced, under current procedures the Service may treat the City as a taxpayer and the Bondholders may have no right to participate in such procedure. The commencement of an audit could adversely affect the market value and liquidity of the Bonds until the audit is concluded, regardless of the ultimate outcome. Reporting and Withholding Payments of interest on, and proceeds of the sale, redemption or maturity of, tax-exempt obligations, including the Bonds, are in certain cases required to be reported to the Service. Additionally, backup withholding may apply to any such payments to any Bond owner who fails to provide an accurate Form W-9 Request for Taxpayer Identification Number and Certification, or a substantially identical form, or to any Bond owner who is notified by the Service of a failure to report any interest or dividends required to be shown on federal income tax returns. The reporting and backup withholding requirements do not affect the excludability of such interest from gross income for federal tax purposes. Tax Legislation Legislation affecting tax-exempt obligations is regularly considered by the United States Congress and may be considered by the Iowa General Assembly. Court proceedings may also be filed, the outcome of which could modify the tax treatment. There can be no assurance that legislation enacted or proposed, or actions by a court, after the date of issuance of the Bonds will not have an adverse effect on the tax status of interest or other income on the Bonds or the market value or marketability of the Bonds. These adverse effects could result, for example, from changes to federal or state income tax rates, changes in the structure of federal or state income taxes (including replacement with another type of tax), or repeal (or reduction in the benefit) of the exclusion of interest on the Bonds from gross income for federal or state income tax purposes for all or certain taxpayers. 93 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 The opinions expressed by Bond Counsel are based upon existing legislation and regulations as interpreted by relevant judicial and regulatory authorities as of the date of issuance and delivery of the bonds, and Bond Counsel has expressed no opinion as of any date subsequent thereto or with respect to any proposed or pending legislation, regulatory initiatives or litigation. Enforcement There is no trustee or similar person to monitor or enforce the terms of the Resolution. In the event of a default in the payment of principal of or interest on the Bonds, there is no provision for acceleration of maturity of the principal of the Bonds. Consequently, the remedies of the owners of the Bonds (consisting primarily of an action in the nature of mandamus requiring the City and certain other public officials to perform the terms of the Resolution) may have to be enforced from year to year. The owners of the Bonds cannot foreclose on property within the boundaries of the City or sell such property in order to pay the debt service on the Bonds. In addition, the enforceability of the rights and remedies of owners of the Bonds may be subject to limitation as set forth in Bond Counsel's opinion. The opinion will state, in part, that the obligations of the City with respect to the Bonds may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted to the extent constitutionally applicable, to the exercise of judicial discretion in appropriate cases and to the exercise by the State and its governmental bodies of the police power inherent in the sovereignty of the State and to the exercise by the United States of America of the powers delegated to it by the Constitution of the United States of America. The Opinion The FORM OF LEGAL OPINION, in substantially the form set out in APPENDIX C to this Preliminary Official Statement, will be delivered at closing. Bond Counsel's opinion is not a guarantee of a result, or of the transaction on which the opinion is rendered, or of the future performance of parties to the transaction, but represents its legal judgment based upon its review of existing statutes, regulations, published rulings and court decisions and the representations and covenants of the City described in this section. No ruling has been sought from the Service with respect to the matters addressed in the opinion of Bond Counsel and Bond Counsel's opinion is not binding on the Service, nor does the rendering of the opinion guarantee the outcome of any legal dispute that may arise out of the transaction. Bond Counsel assumes no obligation to update its opinion after the issue date to reflect any further action, fact or circumstance, or change in law or interpretation, or otherwise. Bond Counsel Review Bond Counsel has approved the language included in this "TAX MATTERS" Section but has not otherwise participated in the preparation of this Preliminary Official Statement and will not pass upon its accuracy, completeness or sufficiency. Bond Counsel has not examined, nor attempted to examine or verify, any of the financial or statistical statements or data contained in this Preliminary Official Statement, and will express no opinion with respect thereto. ALL POTENTIAL PURCHASERS OF THE BONDS SHOULD CONSULT WITH THEIR TAX ADVISORS WITH RESPECT TO FEDERAL, STATE AND LOCAL TAX CONSEQUENCES OF OWNERSHIP OF THE BONDS (INCLUDING BUT NOT LMHTED TO THOSE LISTED ABOVE). 29 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 1 ► Y IN I I► For the purpose of complying with paragraph (b)(5) of the Rule, the City will covenant and agree, for the benefit of the registered holders or beneficial owners from time to time of the outstanding Bonds to provide reports of specked information and notice of the occurrence of certain events, as hereinafter described (the "Disclosure Covenants"). The information to be provided on an annual basis, and the events as to which notice is to be given, is set forth in "APPENDIX D — Form of Continuing Disclosure Certificate". This covenant is being made by the City to assist the Underwriter(s) in complying with the Rule. Breach of the Disclosure Covenants will not constitute a default or an "Event of Default" under the Bonds or Resolution, respectively. A broker or dealer is to consider a known breach of the Disclosure Covenants, however, before recommending the purchase or sale of the Bonds in the secondary market. Thus, a failure on the part of the City to observe the Disclosure Covenants may adversely affect the transferability and liquidity of the Bonds and their market price. Pursuant to the Rule, in the last five years, the City, to the best of its knowledge, failed to timely file a material event notice for a financial obligation entered into on August 1, 2019. The City has taken steps to ensure future filing of this information in compliance with the applicable undertakings. Bond Counsel expresses no opinion as to whether the Disclosure Covenants comply with the requirements of Section (b)(5) of the Rule. OPTIONAL REDEMPTION Bonds due June 1, 2025 - 2031 inclusive, are not subject to optional redemption. Bonds due June 1, 2032 - 2034, inclusive, are subject to optional redemption in whole or in part on any date on or after June 1, 2031, at a price of par and accrued interest. If selection by lot within a maturity is required, the Registrar shall designate the Bonds to be redeemed by random selection of the names of the registered owners of the entire annual maturity until the total amount of Bonds to be called has been reached. If less than all of the maturity is called for redemption, the City will notify DTC of the particular amount of such maturity to be redeemed prior to maturity. DTC will determine by lot the amount of each Participant's interest in such maturity to be redeemed and each Participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Thirty days' written notice of redemption shall be given to the registered owner of the Bond. Failure to give written notice to any registered owner of the Bonds or any defect therein shall not affect the validity of any proceedings for the redemption of the Bonds. All Bonds or portions thereof called for redemption will cease to bear interest after the specified redemption date, provided funds for their redemption are on deposit at the place of payment. Written notice will be deemed completed upon transmission to the owner of record. LITIGATION There is no litigation of any nature now pending or threatened restraining or enjoining the issuance, sale, execution or delivery of the Bonds, or in any way contesting or affecting the validity of the Bonds or any proceedings of the City taken with respect to the issuance or sale thereof. There is no litigation now pending, or to the knowledge of the City, threatened against the City that is expected to materially impact the financial condition of the City. 011 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 LEGAL MATTERS The Bonds are subject to approval as to certain legal matters by Ahlers & Cooney, P.C., Des Moines, Iowa, as Bond Counsel. Bond Counsel has not participated in the preparation of this Official Statement except for guidance concerning the tax status of interest on the Bonds discussed in the "TAX MATTERS" section, and will not pass upon its accuracy, completeness, or sufficiency. Bond Counsel has not examined nor attempted to examine or verify any of the financial or statistical statements, or data contained in this Official Statement, and will express no opinion with respect thereto. A legal opinion in substantially the form set forth in APPENDIX C to this Official Statement will be delivered at closing. Ahlers & Cooney, P.C. is also serving as Disclosure Counsel for the City in connection with the issuance of the Bonds. The legal opinion to be delivered concurrently with the delivery of the Bonds expresses the professional judgment of the attorneys rendering the opinion as to legal issues expressly addressed therein. By rendering a legal opinion, the opinion giver does not become an insurer or guarantor of the result indicated by that expression of professional judgment, or of the transaction on which the opinion is rendered, or of the fixture performance of parties to the transaction. Nor does the rendering of an opinion guarantee the outcome of any legal dispute that may arise out of the transaction. In addition, the enforceability of the rights and remedies of owners of the Bonds may be subject to limitation as set forth in the Bond Counsel's opinion. The opinion will state, in part, that the obligation of the City with respect to the Bonds may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted to the extent constitutionally applicable, and to the exercise of judicial discretion in appropriate cases. OFFICIAL STATEMENT AUTHORIZATION This Official Statement has been authorized for distribution to prospective purchasers of the Bonds. All statements, information, and statistics herein are believed to be correct but are not guaranteed by the consultants or by the City, and all expressions of opinion, whether or not so stated, are intended only as such. This Official Statement is not to be construed as a contract or agreement amongst the City, the Underwriter, or the holders of any of the Bonds. Any statements made in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended merely as opinions and not as representations of fact. The information and expressions of opinions contained herein are subject to change without notice and neither the delivery of this Official Statement or the sale of the Bonds made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City since the date hereof. The information contained in this Official Statement is not guaranteed. h\/ Yu RIONWITWOM The City has supplied certain information and material concerning the Bonds and the City to the rating service shown on the cover page, including certain information and materials which may not have been included in this Official Statement, as part of its application for an investment rating on the Bonds. A rating reflects only the views of the rating agency assigning such rating and an explanation of the significance of such rating may be obtained from such rating agency. Generally, such rating service bases its rating on such information and material, and also on such investigations, studies and assumptions that it may undertake independently. There is no assurance that such rating will continue for any given period of time or that it may not be lowered or withdrawn entirely by such rating service if, in its judgment, circumstances so warrant. Any such downward change in or withdrawal of such rating may have an adverse effect on the secondary market price of the Bonds. An explanation of the significance of the investment rating may be obtained from the rating agency: Moody's Investors Service, Inc., 7 World Trade Center at 250 Greenwich Street, New York, New York 10007, telephone 212-553-1658. 31 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 The Bonds were offered for sale by the City at a public, competitive sale on Tuesday, May 7, 2024. The best bid submitted at the sale was submitted by (the "Underwriter'). The City awarded the contract for sale of the Bonds to the Underwriter at a price of $ (reflecting the par amount of $ , plus a reoffering premium of $ , and less an Underwriter's discount of $ ). The Underwriter has represented to the City that the Bonds have been subsequently re -offered to the public initially at the yields or prices set forth in the Final Official Statement. The Underwriter may offer and sell the Bonds to certain dealers (including dealers depositing the Bonds into unit investment trusts, certain of which may be sponsored or managed by the Underwriter) at prices lower than the initial public offering prices stated on the cover page. The initial public offering prices of the Bonds may be changed, from time to time, by the Underwriter. The Underwriter intends to engage in secondary market trading of the Bonds subject to applicable securities laws. The Underwriter is not obligated, however, to repurchase any of the Bonds at the request of the holder thereof. ILTA IU`IMIAll II_\1]VAkill The City has engaged Speer Financial, Inc. as municipal advisor (the "Municipal Advisor") in connection with the issuance and sale of the Bonds. The Municipal Advisor is a Registered Municipal Advisor in accordance with the rules of the MSRB. The Municipal Advisor will not participate in the underwriting of the Bonds. The fmancial information included in the Official Statement has been compiled by the Municipal Advisor. Such information does not purport to be a review, audit or certified forecast of future events and may not conform with accounting principles applicable to compilations of financial information. The Municipal Advisor is not a firm of certified public accountants and does not serve in that capacity or provide accounting services in connection with the Bonds. The Municipal Advisor is not obligated to undertake any independent verification of or to assume any responsibility for the accuracy, completeness or fairness of the information contained in this Official Statement, nor is the Municipal Advisor obligated by the City's continuing disclosure undertaking. The remainder of this page was left blank intentionally. 32 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 MISCELLANEOUS Brief descriptions or summaries of the City, the Bonds, the Resolution and other documents, agreements and statutes are included in this Official Statement. The summaries or references herein to the Bonds, the Resolution and other documents, agreements and statutes referred to herein, and the description of the Bonds included herein, do not purport to be comprehensive or definitive, and such summaries, references and descriptions are qualified in their entireties by reference to such documents, and the description herein of the Bonds is qualified in its entirety by reference to the form thereof and the information with respect thereto included in the aforesaid documents. Copies of such documents may be obtained from the City. Any statements in this Official Statement involving matters of opinion or estimates, whether or not expressly so stated, are intended as such and not as representations of fact, and no representation is made that any of the estimates will be realized. This Official Statement is not to be construed as a contract or agreement between the City and the purchasers or Owners of any of the Bonds. The attached APPENDICES A, B, C, and D are integral parts of this Official Statement and must be read together with all of the foregoing statements. It is anticipated that CUSIP identification numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bonds nor any error in the printing of such numbers shall constitute cause for a failure or refusal by the purchaser thereof to accept delivery of and pay for any Bonds. The City has reviewed the information contained herein which relates to it and has approved all such information for use within this Official Statement. The execution and delivery of this Official Statement has been duly authorized by the City. /s/ NICOLE DAVIES Finance Director CITY OF IOWA CITY Johnson County, Iowa The remainder of this page was left blank intentionally. 33 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 APPENDIX A CITY OF IOWA CITY JOHNSON COUNTY, IOWA FISCAL YEAR 2023 ANNUAL COMPREHENSIVE FINANCIAL REPORT CITY OF IOWA CITY, IOWA 0000 ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED i JUNE 30, 2023 a* I? , Ar'III�� i y�®L�11 CITY OF IOWA CITY UNESCO CITY OF LITERATURE '144 Cats at the Iowa City Animal Care and Adoption Center enjoy fresh air on the new "natio;' completed December 2022. Annual Comprehensive Financial Report City of Iowa City, Iowa For the fiscal year ended June 30, 2023 Prepared by: Finance Department City of Iowa City, Iowa n Introductory Section Tab City of Iowa City, Iowa Table of Contents June 30, 2023 Page Introductory Section Tableof contents................................................................................................................................ 1 Letterof transmittal............................................................................................................................ 3 Certificate of Achievement for Excellence in Financial Reporting ................................................... 12 Cityorganizational chart .................................................................................................................... 13 Cityofficials....................................................................................................................................... 14 Financial Section Independent Auditor's Report ............................................................................................................ 15 Management's Discussion and Analysis............................................................................................ 19 Basic Financial Statements Government -wide financial statements 105 Statementof net position............................................................................................................. 30 Statementof activities.................................................................................................................. 33 Fund financial statements Balance sheet — governmental funds............................................................................................ 34 Reconciliation of the balance sheet of the governmental funds to the statement of net position 35 Statement of revenues, expenditures, and changes in fund balances — governmental funds ....... 36 Reconciliation of the statement of revenues, expenditures, and changes in fund balances of governmental funds to the statement of activities..................................................................... 37 Statement of net position — proprietary funds.............................................................................. 38 Statement of revenues, expenses, and changes in fund net position — proprietary funds ............ 39 Statement of cash flows — proprietary funds................................................................................ 40 Statement of fiduciary net position — custodial fund................................................................... 41 Statement of changes in fiduciary net position — custodial fund ................................................. 42 Notes to financial statements.......................................................................................................... 43 Required Supplementary Information Budgetary comparison schedule — budget and actual — all governmental funds and enterprise funds —budgetary basis.................................................................................... 82 Budgetary comparison schedule — budget to GAAP reconciliation ................................... 84 Note to required supplementary information — budgetary reporting ................................... 85 Schedule of the City's proportionate share of MFPRSI net pension liability ........................ 86 Schedule of City's MFPRSI contributions................................................................ 88 Notes to required supplementary information —MFPRSI pension liability ........................... 90 Schedule of the City's proportionate share of IPERS net pension liability .......................... 92 Schedule of City's IPERS contributions................................................................... 94 Notes to required supplementary information — IPERS pension liability ............................. 96 Required supplementary information — schedule of changes in the City's total OPEB liability, related ratios and notes..................................................................................... 97 Combining Fund Statements Combining balance sheet—nonmajor governmental funds............................................................ 100 Combining statement of revenues, expenditures, and changes in fund balances — nonmajor governmentalfunds...................................................................................................................... 101 Combining statement of net position — nonmajor enterprise funds ................................................ 104 Combining statement of revenues, expenses, and changes in fund net position — nonmajor enterprisefunds............................................................................................................................ 105 Combining statement of cash flows —nonmajor enterprise funds .................................................. 106 Combining statement of net position — internal service funds ........................................................ 108 City of Iowa City, Iowa Table of Contents June 30, 2023 Page Combining Fund Statements (continued) Combining statement of revenues, expenses, and changes in fund net position — internal servicefund............................................................................................................................109 Combining statement of cash flows — internal service funds ....................................................110 Statistical Section (Unaudited) Net position by component...........................................................................................................113 Changesin net position................................................................................................................114 Fund balances — governmental funds...........................................................................................116 Changes in fund balances — governmental funds.........................................................................117 General government tax revenues by source................................................................................118 Assessed and taxable value of property........................................................................................119 Property tax rates — direct and overlapping governments............................................................120 Levies and collections..................................................................................................................121 Principaltaxpayers.......................................................................................................................122 Larger water system customers....................................................................................................124 Sales history and water system charges........................................................................................125 Larger sewer system customers....................................................................................................126 Sales history and sewer system charges.......................................................................................127 Ratios of outstanding debt by type...............................................................................................128 Ratios of general obligation bonded debt to assessed value and net bonded debt per capita....... 129 Computation of direct and overlapping debt................................................................................130 Legal debt margin information.....................................................................................................131 Schedule of revenue bond coverage.............................................................................................132 Schedule of TIF revenue bond coverage......................................................................................133 Demographic and economic statistics..........................................................................................134 Principalemployers......................................................................................................................135 Full-time equivalent city government employees by function .....................................................136 Operating indicators by function..................................................................................................137 Capitalassets by function.............................................................................................................138 Compliance Section Independent auditor's report on internal control over financial reporting and on compliance and other matters based on an audit of financial statements performed in accordance with Government AuditingStandards.......................................................................................................................139 Independent auditor's report on compliance for each major federal program and report on internal control over compliance required by the Uniform Guidance .......................................................141 Schedule of expenditures of federal awards.................................................................................144 Notes to the schedule of expenditures of federal awards.............................................................147 Summary Schedule of Prior Audit Findings................................................................................148 Schedule of findings and questioned costs...................................................................................149 December 5, 2023 To the Citizens, Honorable Mayor, Members of the City Council and City Manager City of Iowa City, Iowa � r t CITY OF IOWA CITY The Annual Comprehensive Financial Report (Annual Report) of the City of Iowa City, Iowa (the City) for the fiscal year ended June 30, 2023 is submitted herewith in accordance with the provisions of Chapter 11 of the Code of Iowa. The City's Finance Department prepared this report. Responsibility for both the accuracy of the data presented and the completeness and fairness of the presentation, including all disclosures, rest with the City. I believe the information, as presented, is accurate in all material respects and presented in a manner designed to fairly present the financial position and results of operations of the City. All disclosures necessary to enable the reader to gain an understanding of the City's financial affairs have been included. Management assumes full responsibility for the completeness and reliability of all of the information presented in this report, based upon a comprehensive framework of internal control that it has established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements will be free of any material misstatement. Bohnsack & Frommelt, LLP, a firm of independent public accountants has issued an unmodified ("clean') opinion on the City's financial statements for the year ended June 30, 2023. Their opinion is included in the Financial Section of this report. The City is required to undergo an annual single audit in conformity with the provisions of Title 2 U.S. Cade of Federal Regulations Part 200, Uniform Administrative Requirements, Cast Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Information to comply with the Uniform Guidance and "Government Auditing Standards" is included in the Compliance Section of this report. GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (LVID&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City's MD&A can be found immediately following the report of the independent auditors. Profile of the Government The City of Iowa City was incorporated April 6, 1853. The City is governed by a seven member Council; each member serves a four-year term. Elections are held every two years allowing for continuation in office of at least three members at each biennial election. The Council members are elected at large, with three members nominated from specific districts and the remaining four members nominated at large. The Council elects the Mayor from its own members for a two-year term. The City Council is the legislative body and makes all policy determinations for the City through the enactment of ordinances and resolutions. It also adopts a budget to determine how the City will obtain and spend its fimds. The Council appoints members of boards, commissions and committees. The City Manager is the chief administrative officer for the City and is appointed by the City Council. The City Manager implements policy decisions of the City Council and enforces City ordinances. In addition, the City Manager appoints and directly supervises the directors of the City's operating departments and supervises the administration of the City's personnel system. The City Manager supervises 562 full-time and 62 part-time permanent municipal employees and 300 temporary employees, including a police force of 78 sworn personnel and a fire department of 66 firefighters. The City Clerk is appointed by the City Council and reports to the Council. The City Clerk's Office administers the City governments documentation, City licenses and permits, and provides information from the Municipal Code and City Ordinances to the public and other City departments. The City Clerk's Office is also responsible for distributing and maintaining accurate records of all City Council proceedings. The Clerk supervises 3 full-time employees. The City Attorney is also appointed by the City Council and works at the direction of the City Council. The City Attorney supervises the City Attorney's Office, including 4 Assistant City Attorneys and 2 other full-time employees. In addition, the City Attorney acts as Chief Legal Counsel to the City Council, City Manager, the various City departments and staff, and most City commissions, committees and boards. The City provides a full range of services including police and fire protection, construction and maintenance of roads, streets and infrastructure, inspection and licensing fimctions, a municipal airport, library, recreational activities, and cultural events. The City owns and operates its water supply and distribution system and sewage collection and treatment system with secondary treatment also provided. Virtually the entire City has separate storm and sanitary sewer systems. The City operates a municipal off-street and on-street parking system in the downtown area. The City also operates a transit system. The annual budget serves as the foundation for the City's financial planning and control. All departments of the City are required to submit requests for appropriation to the City Manager in October. The City Manager uses these requests as the starting point for developing a proposed budget. The City Manager then presents this proposed budget to the Council for review in December. The Council is required to hold a public hearing on the proposed budget and to adopt a final budget no later than April 30'. The appropriated budget is prepared by fimd, fimction (e.g., Public Safety), and department (e.g., Police). The City adopts a three-year financial plan that includes both operations and capital improvements. This three-year plan permits a more comprehensive review of the City's financial condition, allowing analysis of the current and fixture needs and requirements. During preparation of the plan, careful review is made of property tax levy rates, utility and user fee requirements, ending cash balances by fimd, debt service obligations, bond financing needs, capital outlay for equipment purchases and major capital improvement projects. The state requires at least a one-year operating budget. While legal spending control is exercised at a state mandated fimction level, management control is set at the Department Manager level. Encumbrance accounting is utilized in all fimds for budgetary control. Appropriations that are not spent lapse at the end of the year. a Information Useful in Assessing the Government's Economic Condition The City's economic strength is based on the educational sector, medical services, and diversified manufacturing. The University of Iowa and the University of Iowa Hospital and Clinics are the City's largest employers with over 24,500 employees. The University of Iowa had an enrollment in fall 2023 of 31,452 students, which is a decrease of 204 students from 31,656 students in the fall of 2022. The academic and research missions of the University, along with the health care services provided at its hospitals and clinics, have an extremely positive economic impact on the area. The City also has a significant number of national and international businesses, including Fortune 500 companies: ACT Inc., NCS Pearson, and Procter & Gamble. In February 2018, Procter & Gamble announced that in approximately two years they would be shifting their beauty care products production from Iowa City to their West Virginia plant. The announced plan was to eventually reduce the workforce from approximately 600 down to 100 employees. This would also impact nearby businesses that produce bottles and labels for this production plant in Iowa City. In May 2020, Procter & Gamble announced that they were going to maintain more employees in Iowa City by maintaining its oral rinse production here and by shifting newer product lines here. In addition, Procter & Gamble has added and is expanding an electric toothbrush plant in Iowa City which is expected to employ several hundred employees; it currently has added approximately 100 employees. The estimated investment in this new facility has been nearly $100 million. Overall, the continued economic development efforts with the Iowa City and Coralville Chambers of Commerce, private interests, the University of Iowa, other surrounding communities, and the Iowa City Area Development Group, have produced positive results with the retention and expansion of businesses. In addition, Iowa's Creative Corridor is a seven -county alliance surrounding Iowa City and has been identified as one of the major growth areas for new business development in the State of Iowa. This Corridor gives employers workforce access to a region uniquely Iowan, founded with a manufacturing heritage, but actively seeking new frontiers and opportunities in information technology, biotechnology and bioprocessing, renewable energy, insurance and financial services, advanced manufacturing, and educational services. Continued developments within Iowa City and the region have a favorable impact upon the City's economy and growth. According to the 2020 census, the population of Iowa City is 74,828. This is an increase of 6,966 or 10.3% as compared to the 2010 census of 67,862. As a whole, the City's economy continues to grow, established firms continue to prosper and expand, and there are opportunities for growth for new businesses; however, the COVID-19 pandemic had a substantial short-term impact on the City's economy. The economy has mostly recovered from the pandemic and Iowa City's economy has continued to improve. As of June 2023, Iowa City's unemployment rate was 2.6% while the State of Iowa was at 2.7%, and the National rate was 3.6%. The rate of new housing construction also decreased substantially due to the COVID-19 pandemic in 2020 and the City continues to see an increase in 2022 based on the number of building permits issued. New housing building permits consisted of 98 new single-family houses and duplexes in 2022 as compared to 136 in 2021; multi -family dwelling units added during calendar year 2022 was 258, compared to 155 in 2021; and mixed commercial/residential developments added 0 dwelling units in 2022 versus 40 residential units in 2021. Altogether new housing additions totaled 356 units valued at $97,581,126 in 2022 versus a total of 331 units valued at $82,570,307 in 2021. The City did see an increase in 2022 but the amounts were still less than pre COVID-19 totals of 556 units valued at $124,362,697 in 2019. Also reflecting the impact of the COVID-19 pandemic, the City had a decrease in commercial construction permits between 2019 and 2020. The value of permits for commercial construction increased from $5,580,000 in 2021 to $7,179,000 in 2022. The value of remodeling permits for residential and commercial properties decreased slightly from $37,374,362 in 2021 to $34,628,779 in 2022. Total permits issued in 2021 for all purposes was 580 permits for $135,490,596 which was more permits but less value than the 2022 total permit issuance of 543 permits for $152,715,321. The COVID-19 pandemic has had a significant short-term economic impact on the City of Iowa City; however, the City's unemployment rate has dropped steadily since its peak in April 2020 as the City's economy opened back up. The stability of the University of Iowa coupled with historically steady employment by the City's multi -sector base of manufacturing and service industries helps to insulate the City from significant negative impacts of economic recessions. The City's property valuations continue to rise which is indicative of the City's relative economic stability. Major Initiatives The City of Iowa City developed a 5 year Strategic Plan. The strategic planning process involved multiple steps, including gathering input from the general public, front-line City staff, department directors, and the City Council. This Strategic Plan builds on the City's previous plans to foster a more inclusive, just and sustainable Iowa City by prioritizing the physical, mental and economic well-being of all residents. Values • Partnerships and Engagement • Climate Action • Racial equity, social justice, and human rights Impact Areas & Strate�es Neighborhoods & Housing • Update the City Comprehensive Plan and Zoning Code to encourage compact neighborhoods with diverse housing types and land uses. • Partner in projects that serve as models for desired fixture development. • Create inviting and active outdoor spaces with unique and engaging recreation offerings. • Address the unique needs of vulnerable populations and low -to -moderate income neighborhoods. Mobility • Expand the access and convenience of environmentally friendly and regionally connected public transit. • Design and maintain complete streets that are comfortable and safe for all users. • Grow and prioritize bike and pedestrian accommodations. Economy • Reinforce Iowa City as a premier community to locate and grow a business. • Ensure appropriate infrastructure is in place for fixture business growth and development. • Cultivate a strong entrepreneurial and small businesses ecosystem with a focus on creating new pathways to success for systemically marginalized populations. • Build Iowa City's image as the Greatest Small City for the Arts. • Strengthen the Iowa River's role as a signature community amenity and tourism generator. Safety & Well-being Implement and expand innovative public safety models and facilities to improve outcomes and relationships within the community. Partner with non -profits to address the most emergent and foundational community safety and well-being needs. Build community by fostering social connections and developing safe, accessible public spaces for gathering. Resources: Facilities, Equipment & Technology People Invest in the next generation of public facilities and equipment to create immediate operational efficiencies, boost workplace safety, health, and morale, and improve cross - department collaboration. Promote high performance governance leveraging technology, partnerships, and innovation. Establish the City of Iowa City as an employer of choice in the region with a pay plan, benefits package, and flexible work options that attract and retain high-quality and motivated public service employees. Carry out a multi -dimensional staff engagement initiative to ensure every City employee feels welcome, informed, involved, and engaged at work Build a diverse talent pipeline. Financial Grow the tax base, consider alternative revenue sources, and leverage outside funding to maintain core services and pursue community priorities while maintaining equitable property tax rates. Exercise fiscal responsibility by maintaining and growing assigned and emergency reserve funds and prudent debt management. The City Council has also promoted private investment and re -development of other targeted areas throughout the community. The areas that are currently being focused on include the Riverfront Crossings area, the Downtown District, the Riverside Drive commercial area, and the Foster Road Urban Renewal Area. The Riverfront Crossing area is an initiative to revitalize the area south of Iowa City's downtown district. This area was hard hit by flooding in 2008 and ideas for improving the district were initiated as part of a combined flood mitigation plan. The district features a riverfront park with walking and biking trails, a variety of housing options near shopping, restaurants, a state-of-the-art recital hall and recreational facilities and is a short walk to downtown Iowa City and the University of Iowa campus. This area has seen significant development over the past few years. The Riverfront Crossings area is anchored by a 76.8 acre park that was formerly comprised of public facilities including the City's north wastewater treatment plant. An $8.5 million hazard mitigation grant from the State of Iowa assisted the City in removing the public facilities in this area and then converting the area into a riverfront park and wetland. Construction of phases 1 through 3 of the park began in 2017 and were completed during the fall of 2019; phase 4 of the park started in 2019 and was completed in the fall of 2020. On the north side of the Riverfront Crossing area, the University of Iowa recently constructed the Voxman School of Music. On the opposite side of the street, the redevelopment of an empty lot was completed in the spring of 2019 which includes a 7 -story, mixed-use building with 40 apartment units, retail space on the street level, and office space on the second floor. An adjacent building houses a 7 -story Element Hotel by Marriott. The estimated cost of these developments is approximately $40 million. On the back side of the School of Music, a new development has been approved for two new 15 story towers with up to 820 total units and 1,575 beds. This area is approximately one city block in size, will provide right-of-way to re -connect Capitol Street, and has an estimated investment of $200 million. In the Downtown District, the City completed a streetscape plan for the Central Business District which included lighting, landscaping, parking, utility improvements, artwork, and pedestrian amenities. Reconstruction and enhancements for the Washington Street corridor were completed in 2017 and reconstruction of Black Hawk mini -park and the downtown pedestrian mall were completed last year. Other future downtown streetscape projects are scheduled in the five-year capital improvement program. The downtown has also seen significant private development over the past few years. Private development in the downtown area includes a new project completed in 2022, which includes the historical renovation of several commercial buildings along the pedestrian mall and the construction of an 11 -story, 120,000 square foot multi -residential with 102 residential units. The total project is estimated to cost $54.4 million. Other buildings in the downtown that have undergone major re -development recently include the Wilson Building and public space which has been developed into a 15 -story mixed-use development known as the Chauncey; this building has 8 floors of residential units, a 35 -unit hotel, two floors of commercial space, a movie theatre and a bowling alley. The project was estimated to cost $49 million. Also completed was the redevelopment of the City Hall parking lot and neighboring church into 126 residential units, parking, and commercial space. The project was estimated to cost $33.4 million. Also new in 2020, was the addition of a 13,000+ square foot Target in a large downtown store front that had been vacant for years. This store represents a trend away from big box stores on the edges of town and a focus on University related downtown foot traffic. The Riverside Drive commercial area is an area that stretches from the University of Iowa campus to the intersection of Highways 1 and 6 and is across the river from the Riverfront Crossings development area. The development of a 4 -story, $16.1 million multi-family/student housing development in the Riverside Drive area was completed in late 2016, and adjacent to this development several new retail spaces including a gas station/marketplace and additional multi - residential housing units were also constructed or renovated. The City is developing a streetscape plan for this area which will include lighting, trails, landscaping, and other amenities and improvements. Construction of the streetscape and intersection improvements began in 2018 and were completed in 2020. Additional streetscape and trail improvements are planned for this area in the fixture. Development of the Foster Road Urban Renewal Area is underway which will convert a 53.29 acre wooded area north of the Downtown area and near Interstate 80 into a new residential/multi- residential development with a total estimated cost of approximately $33 million. A 53 -unit, 55+ senior living facility was recently constructed, and an additional 52 townhomes are planned adjacent to the facility. The project also extended the Foster Road arterial from Dubuque Street to Prairie Du Chien Road, and the area will provide Low-MIddle Income (LMI) funding through a tax increment district that can be used by the City anywhere to assist with the development of affordable housing. Long-term Financial Planning It is management's intent to support the major City Council initiatives through budget appropriations, departmental operations, and employee development so that the organization as a whole is moving in the same direction. The passage of property tax reform (SF295) by the state legislature in 2013 is still impacting the preparation of the year financial plan (FY2023 — FY2025). The property tax reform bill had multiple components including a property tax rollback for commercial and industrial property, which reduced the taxable value of these property types. The bill established a State fimded "backfill" to reimburse the City for lost property tax revenues due to the commercial and industrial rollback The State "backfill" payments began in fiscal year 2015 but were capped at the fiscal year 2017 levels for years thereafter. Beginning in fiscal year 2023, the State began phasing out the "backfill" and it will be fully phased out in five years. This bill also limited the annual taxable valuation growth of residential and agricultural property to 3 percent, instead of the previous limit of 4 percent. The impact of this provision is that the taxable percentage of residential property is expected grow at a slower pace. The City will not receive any money from the State due to lost revenue from this provision. SF295 also established a multi -residential property classification that includes mobile home parks, assisted living facilities, and property primarily intended for human habitation. A gradual rollback will be applied to these properties to eventually tax them similarly to residential property, rather than commercial, by fiscal year 2024. This will also not be reimbursed by the State of Iowa. Due to the passage of S17295, the City estimates its net revenue losses to be $26,848,000 for fiscal years 2015 through 2022. The cumulative net revenue loss from fiscal years 2015 through 2024 is estimated to be $41,126,902. It is possible that this could affect the City's ability to finance services at current levels without fmding other revenue sources or more efficient ways to deliver services. In 2023 the state legislature passed additional property tax reform (HF718), which will have a significant impact on the City's budget starting with FY2025. In addition to eliminating two levies (Emergency Levy & Library Levy) that the City currently utilizes the bill also reduces the amount of growth that is allowed for the General Levy. The total impact of this new legislation has not been estimated yet, but it is anticipated that it will be at least a reduction of $1 million dollars annually. The City's long-term financial planning strategy is to promote targeted economic development, diversify its revenue structure, control spending and create efficiencies, and to build adequate reserves and contingencies into its financial structure. In addition, the City is annually reviewing and adjusting its user fees, service charges, and fine structures to try to maintain all of its major enterprise funds with a positive net income after depreciation but before capital contributions, transfers, and extraordinary items. The City also continues to strive to reduce the City's property tax levy rate to be competitive for economic development purposes. In fiscal year 2013, the City's property tax levy rate was $17.269 per $1,000 of assessed value. The property tax levy rate was reduced for nine consecutive years to $15.633 in fiscal year 2023 and remained at $15.633 in fiscal year 2024. This has been a reduction of $1.636 per $1,000 of assessed value or 9.47% over that time period. In looking at expenses for the FY2022 — FY2025 Financial Plan and FY2024 operating budget, the City will generally experience increased expenditures; with General Fund expenditures and total operating expenditures growing at approximately 6% or less from FY2023 to FY2024. Bargaining unit cost -of -living wage increases are approximately 2% to 4% each year. In prior years, the budgeted full-time equivalents (FTE) has generally remained flat - from 607.66 in FY2015 to 608.18 in FY2020, but in FY2021, the permanent FTE count increases to 624.08 primarily due to the conversion of temporary workers to permanent part-time or permanent full-time positions. In FY2022 & FY2023, three additional positions were added each year bringing the City's total FTE to 630.90. In FY2024, 16.05 FTEs were added, bringing the total to 646.95. The City has averaged a 4.95% increase in its health insurance premium rates over the previous eight years; however, is expecting a continued upward trend for health insurance rates in FY2024 and FY2025. Employee contributions, deductibles, and out-of-pocket maximums for health insurance are all expected to increase in FY2024, and employee contributions for health insurance are expected to increase in FY2024, which should help mitigate the impact to the City's overall premium increase. In FY2025 we are expecting to see increases as all expenditures are seeing continued increases due to inflation. In balancing the budget for the three-year period, the City attempts to mitigate the growth of costs while continuing to provide high quality services by identifying ways to provide services more efficiently, reviewing and updating existing revenue sources to meet strategic goals, strategically funding new programming and economic development to ensure strong property value growth, providing for necessary improvements to existing infrastructure, and upholding fiscal integrity by maintaining adequate cash reserves. i[0 Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting (the Certificate) to the City of Iowa City, Iowa for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2022. The Certificate is the highest form of recognition for excellence in state and local financial reporting. In order to be awarded the Certificate, a governmental unit must publish an easily readable and efficiently organized Annual Comprehensive Financial Report, whose contents conform to program standards. The Annual Comprehensive Financial Report must satisfy both accounting principles generally accepted in the United States of America and applicable legal requirements. The Certificate is valid for a period of one year only. The City has received the Certificate for the last thirty-seven consecutive years. I believe our current report continues to conform to the Certificate requirements and I will submit it to GFOA to determine its eligibility for another certificate. In addition, the City received the GFOA's Award for Distinguished Budget Presentation for its annual appropriated budget beginning July 1, 2023. In order to qualify for the Distinguished Budget Presentation Award, the City's budget document was judged to be proficient or outstanding in several categories including policy documentation, financial planning, and organization. This is the eleventh consecutive year the City has received this award. Responsibility and Acknowledgments The Department of Finance prepared the Annual Comprehensive Financial Report of the City of Iowa City, Iowa for the fiscal year ended June 30, 2023. The City Council, as required by law, is responsible for the complete and accurate preparation of the City's Annual Comprehensive Financial Report. I believe that the information presented is accurate in all material respects and that this report fairly presents the financial position and results of operations of the various funds of the City. The preparation of this report on atimely basis could not have been accomplished without the efficient and dedicated services of the entire staff of the City's Finance Department. I would like to express my appreciation to all members of the department who assisted and contributed to its preparation. I want to especially recognize the contributions of the Assistant Finance Director, Jacklyn Fleagle, Accounting Coordinator, Mark Messer, Senior Accountants, TaraLynne Werthmann and Riley Davis and Budget Management Analyst, Angie Ogden. Also, I thank the Mayor, members of the City Council and the City Manager for their interest and support in planning and conducting the financial operations of the City in a dedicated, responsible, and progressive manner. Respectfully submitted, Nicole Davies Finance Director 11 Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Iowa City Iowa For its Annual Comprehensive Financial Report For the Fiscal Year Ended June 30, 2022 Executive Director/CEO 12 City of Iowa City Organization Chart AIRPORT COMMISSIO11 Airport • Airport Operations CITY ATTORNEY City Attorney • City Attorney COMMUNITY f PPOINTED i Departments & Divisions ........................... CITYC•UNCIL. CITY MANAGER City Manager • City Manager • Communications Office • Human Resources • Human Rights • Economic Development • Climate Action & Outreach Finance • Administration • Accounting • Purchasing ' • Revenue • Risk Management • Information Technology Services Neighborhood & Development Services • Administration • Development Services • Neighborhood Services • Metropolitan Planning Organization of Johnson County ........................................ Parks & Recreation • Administration • Recreation • Park Maintenance • Cemetery • Government Buildings ....................................... Senior Center • Senior Center Operations 13 CITY CLERK LIBRARY BOARD City Clerk Library • City ClerkFrary brary Operations Development Office ........................................ Fire • Administration • Emergency Operations • Fire Prevention • Training Police • Administration • Support Services • Field Operations _ Public Works • Administration • Engineering • Streets • Wastewater • Water • Equipment • Resource Management Transportation Services • Administration • Parking • Public Transportation Mayor Council Member and Mayor Pro Tem Council Member Council Member Council Member Council Member Council Member City Manager City Clerk City Attorney City of Iowa City, Iowa Listing of City Officials June 30, 2023 Elected Officials Bruce Teague Megan Alter Pauline Taylor John Thomas Shawn Harmsen Laura Bergus Andrew Dunn Appointed Officials Geoff Frain Kellie Fruehling Eric Goers Department Directors Deputy City Manager Assistant City Manager Director of Neighborhood Development Services Library Director Director of Public Works Director of Transportation Services Senior Center Coordinator Fire Chief Parks and Recreation Director Director of Finance Chief of Police 14 Redmond Jones II Vacant Tracy Hightshoe Elsworth Carman Ron Knoche Darian Nagle Gamm LaTasha DeLoach Scott Lyon Juli Seydell Johnson Nicole Davies Dustin Liston Term Expires January 2, 2026 January 2, 2026 January 2, 2024 January 2, 2024 January 2, 2026 January 2, 2024 January 2, 2024 Date of Hire November 28, 2011 July 10, 2000 September 7, 2005 September 20, 2021 Vacant August 27, 2001 January 2, 2019 April 28, 1999 May 21, 2008 July 31, 2018 April 4, 2022 January 4, 2016 August 4, 2014 January 11, 2021 Financial Section Tabs Bohnsack & Frommelt LLP Certified Public Accountants Independent Auditor's Report To the Honorable Mayor and Members of City Council City of Iowa City, Iowa Iowa City, Iowa Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities, business -type activities, each major fund, and the aggregate remaining fund information of the City of Iowa City, Iowa (City) as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business -type activities, each major fund and the aggregate remaining fund information of the City, as of June 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GRAS) and the standards applicable to the financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Emphasis of Matter As discussed in Note 14 to the financial statements, the City adopted new accounting guidance related to Governmental Accounting Standards Board Statement No. 96, Subscription Based information Technology Arrangements. As a result, June 30, 2022 governmental activities and the internal service funds net position were restated $83,000 and $40,000, respectively. Our opinions are not modified with respect to this matter. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. 15 In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we • Exercise professional judgement and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control -related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis, budgetary comparison information; schedule of changes in the City's total OPEB liability and related ratios, schedules of the City's proportionate share of the net pension liabilities for pension retirement systems, and schedules of the City's contributions for pension retirement systems, on pages 19-29 and 82-97 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. ily We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit was conducted for the purpose of fanning opinions an the financial statements that collectively comprise the City's basic financial statements. The supplementary information, as listed on the table of contents and the Schedule of Expenditures of Federal Awards required by Title 2, U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements_ The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplementary information and Schedule of Expenditures of Federal Awards is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with GovemmentAuditing Standards, we have also issued our report dated December 5, 2023, on our consideration of the City's internal control over Financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with GovemmentAuditing Standards in considering City's internal control over financial reporting and compliance. &An4aC.0t r Moline, Illinois December 5, 2023 17 (This page left blank intentionally.) 18 Management's Discussion and Analysis As management of the City of Iowa City, we present this narrative overview and analysis of the financial activities of the City for the fiscal year ended June 30, 2023. This narrative is intended to be used in conjunction with additional information that is included in the letter of transmittal, which can be found on pages 3 — 11 of this report. Financial Highlights • The assets and deferred outflows of resources of the City of Iowa City exceeded its liabilities and deferred inflows of resources at the close of the fiscal year ending June 30, 2023 by $766,323,000 (net position). Of this amount, $157,707,000 (unrestricted net position) may be used to meet the government's ongoing obligations to its citizens and creditors. • The City's total net position increased by $28,177,000 during the fiscal year. Governmental activities increased by $21,464,000 and business -type activities increased by $6,713,000. • At the close of the current fiscal year, the City's governmental funds reported combined ending fund balances of $123,284,000, an increase of $7,282,000 in comparison with the prior year. Of this total amount, approximately $37,726,000 or 30.6% is unassigned and available for spending at the City's discretion. • At the end of the current fiscal year, the City's unassigned fund balance for the General Fund was $37,977,000 or 65.8% of total General Fund expenditures. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the City's basic financial statements. The City's basic financial statements are comprised of three components: 1) government -wide financial statements, 2) fund financial statements; and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government -wide Financial Statements: The government wide financial statements are designed to provide readers with a broad overview of the City's finances in a manner similar to a private -sector business. The statement ofnetposidon presents information on all of the City's assets and deferred outflows of resources, liabilities and deferred inflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating. The statement of activities presents information showing how the City's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of the government -wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business -type activities). The governmental activities of the City include Public Safety, Public Works (roads and traffic controls), Culture and Recreation, Community and Economic Development, General Government, and Interest on long-term debt. The business -type activities of the City include Airport, Housing Authority, Parking, Sanitation, Stormwater Collection, Transit, Wastewater Treatment, and Water. The government -wide financial statements may be found on pages 30 — 33 of this report iFl Fund Financial Statements: A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. All of the finds of the City can be divided into three categories: governmental finds, proprietary funds, and fiduciary finds. Governmental Funds: Governmental funds are used to account for essentially the same fimction reported as governmental activities in the government -wide financial statements. However, unlike the government -wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances ofspendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near -tern financing requirements and is typically the basis that is used in developing the next annual budget. Because the focus of governmental funds is narrower than that of the government -wide financial statements, it is useful to compare the information presented for governmental fiords with similar information presented for governmental activities in the government -wide financial statements. Both the governmental fiord balance sheet and the governmental fiord statement of revenues, expenditures, and changes in fiord balances provide a reconciliation to facilitate this comparison. The City has six major governmental fiords: General Fund, Other Shared Revenue and Grants Fund, Employee Benefits Fund, Other Construction Fund, Bridge, Street and Traffic Control Construction Fund, and Debt Service Fund. Information is presented separately in the governmental funds balance sheet and in the governmental fimds statement of revenues, expenditures, and changes in fiord balances for these major funds. Data from all other non -major governmental fiords is combined into a single aggregated presentation and are referenced under a single column as "Other Governmental Funds". Individual fund data on each of these non - major governmental fiords is provided in the form of combining statements elsewhere in this report. The City adopts an annual appropriated budget for all governmental fiords as required by state statute. Budget comparisons have been provided for the Governmental funds and the Enterprise funds, to demonstrate compliance with the adopted budget. The basic governmental funds financial statements can be found on pages 34 — 37 of this report. Proprietary Funds: The City maintains two different types of proprietary fiords. Enterprise funds are used to report the same functions presented as business -type activities in the government -wide financial statements. The City uses enterprise fiords to account for its Airport, Housing Authority, Parking, Sanitation, Stormwater Collection, Transit, Wastewater Treatment, and Water activities. Internal Service funds are an accounting device used to accumulate and allocate costs internally among the City's various functions. The City has four Internal Service Funds: Equipment Maintenance, Central Services, Loss Reserve, and Information Technology. Because these services predominantly benefit governmental rather than business -type functions, they have been included within governmental activities in the government -wide financial statements. Proprietary fiords financial statements provide the same type of information as the government -wide financial statements, only in more detail. Transit, Wastewater Treatment, Water, Sanitation, Stormwater and Housing Authority are considered to be major fiords and are reported individually throughout the report. The other two non -major enterprise fiords are grouped together for reporting purposes and listed under a single heading "Other Enterprise Funds". Detailed information for each of the non -major funds is provided in the combining statements on pages 103 — 106. Individual fund data for the Internal Service fiords is provided in the form of combining statements elsewhere in this report. The basic proprietary fund financial statements can be found on pages 38 — 40 of this report. Fiduciary Funds: Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary fiords are not available to support the City's own programs and therefore are not reflected in the government -wide financial statements. The City has one fiduciary fund: Project Green, which is maintained as a custodial fiord. 20 The basic fiduciary funds financial statements can be found on pages 41 - 42. Notes to Financial Statements: The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. The notes to the financial statements can be found on pages 43 - 80 of this report. Other Information: The combining statements referred to in the above paragraphs in connection with non - major governmental funds and internal service funds are presented immediately following the notes. Government -wide Financial Analysis As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $766,323,000 at the close of the fiscal year ended June 30, 2023. By far, the largest portion of the City's net position reflect its investment in capital assets (e.g., land, building, machinery and equipment, improvements other than buildings, and infrastructure), net any related debt to acquire those assets that is still outstanding. The City uses these capital assets to provide services to its citizens; consequently, these assets are not available for future spending. Although the City's investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other resources, since the capital assets themselves cannot be used to liquidate these liabilities. City oflossa City's Net Position June 30, 2023 (amounts ecpressedn thousands) 21 Cmserrrmental Business -type activities activities Total Restated Restated Restated 2023 2022 2023 2022 2023 2022 Cun t and other assets $ 238,577 $ 235,021 $ 141,380 $ 135,788 $ 379,957 $ 370,809 Capital assets 284,995 277,358 331,579 333,503 616,574 610,861 Total assets 523,572 512,379 472,959 469,291 996,531 981,670 Deferted outflows of resources 8,319 8,322 1,909 1,907 10,228 10,229 Long-term liabilities outstanding 105,954 85,972 25,319 23,225 131,273 109,197 Current and other liabilities 26,717 31,725 7,717 6,272 34,434 37,997 Total liabilities 132,671 117,697 33,036 29,497 165,707 147,194 Deferred inflows of resources 70,983 96,231 3,746 10,328 74,729 106,559 Net position: Net investment in capitalassas 235,218 230,368 325,391 325,787 560,609 556,155 Restricted 40,048 36,900 7,959 13,216 48,007 50,116 Unrestricted 52,971 39,505 104,736 92,370 157,707 131,875 Total net position $ 328,237 $ 306,773 $ 438,086 $ 431,373 $ 766,323 $ 738,146 21 A portion of the City's net position, $48,007,000 or 6.3%, represents resources that are subject to external restrictions on how they may be used. The remaining balance of the unrestricted net position, $157,707,000 or 20.6%, may be used to meet the government's ongoing obligations to its citizens and creditors. At the end of the fiscal year ended June 30, 2023, the City is able to report positive balances in all three categories of net position, both for the government as a whole, as well as for its separate governmental and business -type activities. The following is a more detailed review of FY23's operation. Governmental Activities: Governmental activities increased the City's net position by $21,464,000. The increase in net position of governmental activities is primarily from an increase in earnings on investments and conservative budgeting. The total revenues for governmental activities for FY23 were $113,905,000. Governmental activities are primarily funded through taxes, $74,610,000 or 65.5%, and grants and contributions, $19,907,000 or 17.5%. Taxes increased from the prior year by $391,000, which is relatively flat year over year. Grants and contributions decreased from prior year by $455,000 due mainly to additional funding from the American Rescue Plan Act in FY22. Expenses for governmental activities totaled $87,565,000. Governmental activities are tracked by function including Public Safety, Public Works, Community and Economic Development, Culture and Recreation, and General Government. In FY23, Public Safety accounted for the highest portion of governmental expenses, $26,413,000 or 30.2%, and increased over the prior year due to an increase in pension expense due to a increase in the net pension liability. Public Works expenses of $19,051,000 or 21.8% made up another large portion of the governmental expenses and had a slight increase in expenses from the prior year. Culture and Recreation expenses of $18,135,000 or 20.7% made up the third highest portion of governmental expenses and had a slight increase in expenses from the prior year. Business -type Activities: Business -type activities increased the City's total net position by $6,713,000. The increase in net position was primarily from the Transit and Water funds. Water generated operating income of $1,326,000 and received contributions of infrastructure of $547,000 from capital projects funds. Revenues for business -type activities totaled $66,265,000. The primary revenue source for business -type activities is charges for services, $44,203,000 or 66.7%. In addition for FY23, the City's business type -activities had a significant portion, $18,373,000 or 27.7%, of their revenues from grants and contributions used to help fund operation and capital projects for business -type activities. The total expenses for business -type activities in FY23 were $64,428,000. Wastewater Treatment represented the highest portion of business -type activities, $12,869,000 or 20.0%, with Housing Authority, $12,067,000 or 18.7%, Sanitation, $10,282,000 or 16.0% Water, $9,672,000 or 15.0%, and Transit, $9,276,000 or 14.4%, making up the remainder of the majority of business -type activities expenses. PON City of Iowa City's Changes in Net Position (amounts expressed in thousands) The graphs on the following pages represent a breakdown of revenue by source and expenses by program area for governmental and business -type activities. rxl Governmental Business -type activities activities Total 2023 2022 2023 2022 2023 2022 Revenues: Program Revenues: Charges for services $ 9,874 $ 10,754 $ 44,203 $ 42,694 $ 54,077 $ 53,448 Operating grants and contributions 15,550 14,491 16,741 17,063 32,291 31,554 Capital grants and contributions 3,113 4,316 1,632 5,711 4,745 10,027 General Revenues: Property taxes 70,824 70,678 - - 70,824 70,678 Other taxes 3,786 3,541 - - 3,786 3,541 Grants and contributions not restricted to specific purposes 1,244 1,555 - - 1,244 1,555 Earnings (loss) on investments 4,325 (544) 2,605 (190) 6,930 (734) Gam on disposal ofcapitalassets 1,205 257 1 23 1,206 280 Other 3,984 3,524 1,083 1,233 5,067 4,757 Totalrevenues 113,905 108,572 66,265 66,534 180,170 175,106 Expenses: Public safety 26,413 23,609 - - 26,413 23,609 Public works 19,051 17,746 - - 19,051 17,746 Culture and recreation 18,135 16,923 - - 18,135 16,923 Community and economic development 13,570 11,074 - - 13,570 11,074 General government 8,774 7,439 - - 8,774 7,439 Interest on long-term debt 1,622 1,553 - - 1,622 1,553 Wastewater treatment - - 12,869 12,105 12,869 12,105 Water - - 9,672 9,477 9,672 9,477 Sanitation - - 10,282 10,113 10,282 10,113 Housmgauthority - - 12,067 11,832 12,067 11,832 Parking - - 6,436 5,381 6,436 5,381 Airport - - 1,433 1,509 1,433 1,509 Stormwater - - 2,393 2,190 2,393 2,190 Transit 9,276 8,573 9,276 8,573 Total exp enses 87,565 78,344 64,428 61,180 151,993 139,524 Change in net position before transfers 26,340 30,228 1,837 5,354 28,177 35,582 Transfers (4,876) (11,148) 4,876 11,148 Change in net position 21,464 19,080 6,713 16,502 25,177 35,582 Net position beginning of ear, as restated 306,773 287,610 431,373 414,871 735,146 702,481 Net position end of ear $ 328,237 $ 306,690 $ 438,086 $ 431,373 $ 766,323 $ 738,063 The graphs on the following pages represent a breakdown of revenue by source and expenses by program area for governmental and business -type activities. rxl Governmental Activities FY2023 Revenue by Source Misc. Charges for Other Taxes Other services 3% 8% oo/ Business -Type Activities FY2023 Revenue by Source Misc. Other Grants and 5% Contributions 28% Charges for services 67% 24 Grants and Contributions 18% h 0 a Public 28,000 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Governmental Activities FY2023 Expenses by Program Area (amounts expressed in thousands) Program Area Business -Type Activities FY2023 Expenses by Program Area (amounts expressed in thousands) 14,000 Tceatment 12,000 10,000 8,000 h 6,000 4,000 2,000 0 Authority Sanitation Water Parking Program Area Yb7 General Interest Stormwater Financial Analysis of the Government's Funds As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. Governmental Funds: The financial reporting focus of the City's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information may be/is useful in assessing the City's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. Fund balances for the governmental funds are reported in classifications that comprise a hierarchy based on the extent to which the government honors constraints on the specific purposes for which amounts in those funds can be spent. As of the fiscal year ended June 30, 2023, the City's governmental funds reported combined ending fund balances of $123,284,000, an increase of $7,282,000 in comparison with the prior year. Of this total amount, $37,726,000 constitutes unassigned fund balance, which is available to use as working capital for the General Fund since property tax revenues are received only twice a year and the remainder is available to meet the future needs of the City. The remainder of the fund balance is not available for new spending because of constraints imposed externally by creditors, grantors, contributors, or laws or regulations of other governments or constraints imposed internally on the specific purposes for which these amounts can be spent. The restricted fund balance of $63,540,000 or 51.5% contains external restraints on its use. The assigned fund balances of $19,622,000 or 15.9% have been identified by the City to be used for speck purposes. The nonspendable fund balance is $2,396,000 or 1.9%, which the City is contractually required to maintain intact or cannot be spent because it is in a nonspendable format, such as inventories. The General Fund is the chief operating fund of the City. As of the fiscal year ended June 30, 2023, the unassigned fund balance of the General Fund was $37,977,000 while General Fund's total fund balance was $62,036,000. As a measure of the General Fund's liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 65.8% of total General Fund expenditures of $57,709,000, while total fund balance represents 107.5% of that same amount. During the current fiscal year, the fund balance of the City's General Fund increased by $3,206,000. This is due to transfers in from other funds. The fund balance in the Bridge, Street, and Traffic Control Construction Fund was $15,362,000, a decrease of $3,732,000. This fund accounts for transactions relating to the acquisition or construction of major streets, bridges, and traffic control facilities. The fund balance in the Other Construction Fund was $13,928,000, an increase of $4,171,000. This fund accounts for the construction or replacement of other governmental general capital assets, such as administrative buildings, with various funding sources, including general obligation bonds, intergovernmental revenues, and contributions. This increase is mainly due to bond sales. The ending fund balance of the Debt Service Fund was $7,426,000, an increase of $64,000, all of which is reserved for the payment of debt service (i.e. payment of general obligation principal and interest). The ending fund balance of the Employee Benefits Fund was $4,288,000, an increase of $157,000. The ending fund balance of the Other Shared Revenue and Grants Fund was $16,135,000, an increase of $3,739,000 due to $2,038,000 developer fee for affordable housing. PM Proprietary Funds: The City's proprietary funds provide the same type of information found in the government -wide financial statements, but in more detail. The ending net position of the enterprise funds was $413,589,000, an increase in net position of $5,196,000. This was primarily due to capital contributions of federal and state grants to fund capital improvement projects and transfers of business -type capital assets from governmental capital project funds. Of the enterprise funds' net position, $325,391,000 is net investment in capital assets. Unrestricted net position totaled $80,239,000, an increase of $10,849,000 compared to the previous year. The Internal Service funds showed net position totaling $59,596,000 as of June 30, 2023, an increase of $4,544,000 primarily due to operating income in the Equipment Maintenance and Loss Reserve Funds to build up reserves for future expenses and capital outlay. Budgetary Highlights The City presents budgetary information as allowed by GASB Statement No. 41. Budgets are based on nine functional areas as required by state statute, not by fund or fund type. The City had two budget amendments during the fiscal year. These amendments increased budgeted revenues by $15,076,000 or 9.2% to a total of $179,822,000 and the expenditure budget by $69,579,000 or 35.8% to a total of $264,178,000. These increases were due primarily to capital projects in governmental and business - type funds because of timing of completion of projects. Capital Assets and Debt Administration Capital Assets: The City's investment in capital assets for its governmental and business -type activities as of June 30, 2023 amounts to $616,574,000, net of accumulated depreciation. This investment in capital assets, including land, buildings, improvements other than buildings, equipment, streets, bridges, trails, wastewater and water systems, and other infrastructure represents the value of resources utilized to provide services to its citizens. The City's investment in capital assets for the fiscal year ended June 30, 2023 increased by $7,637,000 for governmental activities compared to the prior year and decreased by $1,924,000 for business -type activities from the prior year. The following table reflects the $616,574,000 investment in capital assets, net of accumulated depreciation. City of Iowa City's Capital Assets (net of depreciation) (amounts expressed in thousands) Governmental Business -type PrA Activities Activities Total Restated Restated Restated 2023 2022 2023 2022 2023 2022 Land $ 32,542 $ 32,876 $ 30,957 $ 30,317 $ 63,499 $ 63,193 Buildings 34,397 35,382 55,969 58,688 90,366 94,070 Improvements other than buildings 3,097 3,353 3,098 3,334 6,195 6,687 Machinery and egmpment 35,942 33,933 15,505 17,435 51,447 51,368 IT subsciphons 370 526 349 - 719 526 Infrastructure 158,841 161,819 210,648 213,650 369,489 375,469 Construction in progress 19,806 9,469 15,053 10,079 34,859 19,548 Total $ 284,995 $ 277,358 $ 331,579 $ 333,503 $ 616,574 $ 610,861 PrA Major capital asset events during the current fiscal year included the following: Three large construction projects were completed during FY 23. The first is First Avenue & Scott Boulevard Intersection. This project includes addition of a roundabout at the intersection of First Avenue and Scott Boulevard. This project had construction in progress balance at the beginning of the year of $810,000 and current year expenditures of $1,257,000. The total cost of the project that was capitalized was $2,053,000. The project was funded through bond sales. Another project is the Fire Apparatus Replacement Project. This project consisted of purchasing anew fire engine. It had current year expenditures of $1,535,000. The total cost of the project that was capitalized was $1,535,000 and it was primarily fimded through bond sales. The third project, Landfill Gas Infrastructure, connects existing loops of gas line infrastructure and extends the gas line to improve flow to increase efficiencies and control of gas. This project was capitalized at $785,000 with current year expenses of $156,000 and a beginning construction in progress balance of $629,000. Additional information on the City's capital assets can be found in Note 5 to the financial statements. Debt Administration: At the end of the fiscal year, the City had total bonded debt outstanding of $67,420,000. Of this amount, $52,915,000 comprises debt backed by the full faith and credit of the City. $1,058,000 or 2.0% of the general obligation bonds is debt that will be paid with Tax Increment Financing revenues. $14,505,000 represents revenue bonds secured solely by specific revenue sources. The City issued $9,105,000 of General Obligation bonds during FY23. This increase in debt was offset by the retirement of debt for a net decrease of City's total bonded debt by $5,820,000. City of Iowa City's Outstanding Debt General Obligation and Revenue Bonds (amounts expressed in thousands) Governmental Business -type Activities Activities 2023 2022 2023 2022 General obligation bonds $ 52,915 Revenue bonds 10,880 Total $ 63,795 $ 53,935 $ - $ - 11,840 3,625 7,465 $ 65,775 $ 3,625 $ 7,465 Total 2023 2022 $ 52,915 $ 53,935 14,505 19,305 $ 67,420 $ 73,240 The City continues to have the same excellent bond rating on its General Obligation bonds that it has had for the past several years. This rating is given to those bonds judged to be of the best quality and carrying the smallest degree of investment risks. The City's bond ratings by Moody's Investors Services, Inc. as of June 30, 2023 were as follows: General obligation bonds Wastewater treatment revenue bonds Water revenue bonds Aaa Aa2 Aa2 The City continues to operate well under the State debt capacity debt limitations. State statute limits the amount of debt outstanding to 5% of the assessed value of all taxable property in Iowa City. Debt subject to the debt limit includes general obligation debt and revenue bonds issued pursuant to Iowa Code Chapter 403 (tax increment). The current debt limitation for the City is $362,420,000. With outstanding debt applicable to this limit of $95,790,000 we are utilizing 26.4% of this limit. More detailed information on debt administration is provided in Note 6 of the financial statements. rza Economic Factors and Next Year's Budget and Rates The City expects continued constraints by the State's property tax formula. The State passed property tax reform, which will negatively affect the City's general operating funds. Without the potential for new revenue sources, like those mentioned above, the City's opportunities for new initiatives are limited. The Council has established a budget where expenditures exceed revenues by $3,105,000 in the General Fund for FY24 that strives to maintain current service delivery levels. The tax levy rate per $1,000 of assessed valuation for FY24 is provided below: General Levy $ 8.100 Debt Service Levy 2.479 Employee Benefits Levy 3.344 Transit Levy 0.950 Liability Insurance Levy 0.290 Library Levy 0.270 Emergency Levy 0.200 Total City Levy $ 15.633 Requests for Information This report is designed to provide a general overview of the City of Iowa City's finances for all of those with an interest in the government's finances. Questions concerning any of the information provided in this report, or requests for additional financial information should be addressed to City of Iowa City, Finance Department, 410 East Washington Street, Iowa City, IA, 52240. M City of Iowa City, Iowa Statement of Net Position June 30, 2023 (amounts expressed in thousands) Assets Equity in pooled cash and investments Receivables: Property tax Accounts and unbilled usage Interest Notes Internal balances Lease receivable Due from other governments Inventories Assets held for resale Restricted assets: Equity in pooled cash and investments Capital assets: Land and construction in progress Other capital assets (net of accum. depreciation/amortization) Total assets Deferred Outflows of Resources Pension related deferred outflows OPEB related deferred outflows Total deferred outflows of resources Liabilities Accounts payable Contracts payable Accrued liabilities Interest payable Deposits Advances from grantors Due to other governments Unearned revenue Noncurrent liabilities: Due within one year: Employee vested benefits Subscription Liability Bonds payable Due in more than one year: Employee vested benefits Subscription Liability Net pension liability Other post employment benefits liability Notes payable Bonds payable Landfill closure/post-closure liability Total liabilities Governmental Business -type Activities Activities Total $ 149,259 $ 77,525 $ 226,784 66,779 - 66,779 829 4,200 5,029 560 347 907 5,331 317 5,648 (27,097) 27,097 - 56 2,308 2,364 7,270 5,278 12,548 900 931 1,831 2,058 - 2,058 32,632 23,377 56,009 52,348 232,647 46,010 285,569 98,358 518,216 523,572 472,959 996,531 7,164 1,155 1,445 464 8,609 1,619 8,319 1,909 10,228 2,933 2,384 5,317 3,993 2,452 6,445 3,902 237 4,139 180 36 216 1,381 2,481 3,862 14,293 - 14,293 35 73 108 - 54 54 1,483 479 1,962 135 - 135 11,512 1,780 13,292 1,146 339 1,485 182 - 182 29,470 5,319 34,789 6,228 2,502 8,730 211 - 211 55,587 1,922 57,509 - 12,978 12,978 $ 132,671 $ 33,036 $ 165,707 30 (continued) City of Iowa City, Iowa Statement of Net Position (continued) June 30, 2023 (amounts expressed in thousands) The notes to the financial statements are an integral part of this statement 31 Governmental Business -type Activities Activities Total Deferred Inflows of Resources Pension related deferred inflows $ 2,919 $ 721 $ 3,640 OPEB related deferred inflows 1,696 682 2,378 Lease related deferred inflows 56 2,309 2,365 Deferred amount on refunding - 34 34 Succeeding year property taxes 66,312 - 66,312 Total deferred inflows of resources 70,983 3,746 74,729 Net Position Net investment in capital assets 235,218 325,391 560,609 Restricted for or by: Employee benefits 4,655 - 4,655 Capital projects: Expendable 15,019 - 15,019 Nonexpendable 269 - 269 Debt service 7,246 - 7,246 Police 260 - 260 Other purposes Expendable 9,217 - 9,217 Nonexpendable 69 - 69 Bond ordinance - 3,189 3,189 State statute - 3,030 3,030 Future improvements - 404 404 Grant agreement 3,313 1,336 4,649 Unrestricted 52,971 104,736 157,707 Total net position $ 328,237 S 438,086 $ 766,323 The notes to the financial statements are an integral part of this statement 31 City of Iowa City, Iowa Statement ofArtivities For the Year Ended June 30, 2023 (amounts expressed in thousands) Program Revenues Net (Expense) Revenue and Changes in Net Position Busiuess-type activities: Wastewater treatment Water Sanitation Housing authority Parking Airport Stormvmater Traosit Total business -type activities Total 12,869 12,333 - Operating Capital 10,473 6 235 Charges Grants and Grants and Governmental Busiuess-type Functions/Programt: Expenses for Services Contributions Contributions Activities Activities Governmental activities: - 1,433 389 147 690 Public safety S 26,450 S 5,129 S 240 $ - S (21,081) S - Public works 19,051 112 10,252 2,675 (6,012) - Culture and recreation 18,135 696 109 438 (16,892) - Communityandeconomicdevelopment 13,570 2,066 4,953 - (6,551) - Generalgovemment 8,774 1,871 (4) - (6,907) Interest on long-term debt 1,622 - - - (1,622) - Totalgovemmentalactivities 87,602 9,874 15,550 3,113 (59,065) - Busiuess-type activities: Wastewater treatment Water Sanitation Housing authority Parking Airport Stormvmater Traosit Total business -type activities Total 12,869 12,333 - 167 9,672 10,473 6 235 10,282 11,853 - - 12,067 307 11,529 - 6,436 5,296 - - 1,433 389 147 690 2,393 1,730 - 540 9,276 1,822 5.059 - 64,428 44,203 16,741 1632 $ 152,030 S 54,077 $ 32,291 S Generalrevenues: Property taxes, levied for general purposes Hotel/motel tax Gas and electric tax Utility franchise tax Grants and contributions not restricted to specific purposes Earnings (loss)on investments Gain on disposal of capital assets Miscellaneous Transfers Total general revenues and transfers Changes in net position Net position beginning of year, as restated Net position end of year The nates to the financial statements are an integral part of this statement. BBi Total S (21,081) (6,012) (16,892) (6,551) (6,907) (1,622) (59,065) - (369) (369) - 1,042 1,042 - 1,571 1,571 - (231) (231) - (1,140) (1,140) - (207) (207) - (123) (123) - (2,395) (2,395) - (1,852) (1,852) 4.745 (59,065) (1,852) (60,917) 70,824 - 70,824 1,885 - 1,885 784 784 1,117 - 1,117 1,244 - 1,244 4,325 2,605 6,930 1,242 1 1,243 3,984 1,083 5,067 (4,876) 4,876 80,529 8,565 89,094 21,464 6,713 28,177 306,773 431,373 738,146 S 325,237 S 438,086 S 766,323 City of Iowa City, Iowa Balance Sheet Governmental Funds June 30, 2023 (amounts espresaed in thouawds) Fwd Balancea Sperial Revenue Capital Proj« s Nonap dable 2,127 269 - - - Bridge, - 2,396 Reanicted 2,310 15,866 4,288 13,928 Other 7,426 4,360 Street and Aasigned 19,622 - - - - - Shared 19,622 Unaasigned TraElie Other (251) 3],]26 Revenue and Employ- Other Cwnol 13,928 Debt Goverrumntal 4,109 123,284 Total liabilities, defined inflows General Granta Benefit; Contra bon Cwsnueeoa Service Funda Total Assets 31,643 $ 18,]0] $ 17,953 $ 19,149 $ 18,121 $ 4,830 $ 218,844 Equity in pooled cash and inveatm®ta $ 57,640 $ 21,378 $ 4,251 $ 5,814 $ 6,331 $ ],13] $ 649 $ 103,200 Receivablea: Property t& 40,444 842 14,072 - - 10,765 656 66,]]9 Aceounta and unbilled usage 534 13 - - 154 - - 701 Interest 183 76 - 67 60 24 10 420 Notea 1,288 494 - - - 160 3,389 5,331 Due from other funds 214 - - - - - - 214 Lease receivable 16 - - - - - - 16 Advances to other funds - - - - - 35 - 35 Due from other govmmnmt; 2,716 1,130 384 27I 2,562 - 126 7,189 Inventoriea - 269 - - - - - 269 Aaacta held for resale 2,058 - - - - - - 2,058 Restricted aaacta: Equity in pooled cash and inve;trnmt; 3,348 7,441 11,801 10,042 32,632 Total assets $ 108,441 $ 31.643 $ 18,]0] $ 17,953 $ 19,149 $ 18.121 $ 4.830 $ 218,844 Liabilities, Deferred Jn9ows of Resources and Fund Balanres Liabilities Aceounta payable $ 1,796 $ 341 $ 52 $ 63 S - $ - $ 95 $ 2,347 Connacta payable - - - 724 3,269 - - 3,993 Accrued liabilitiea 738 46 1 - - - 11 796 Due to other funds - - - - - - 3 3 Advances from other funds - 35 - 2,811 - - - 2,846 Due to other govmmsnts 35 - - - - - - 35 Liabilities payable from restricted asset;: Deposita 1,371 10 - - - - - 1,381 Advancea from grantor; 19 13,954 320 14,293 Total liabilities 3,959 14,386 53 3,918 3,269 109 25,694 Defined hdlow; of Reaomcea Unavailable revenues: Succeeding year property nera 40,187 836 13,982 - - 10,695 612 66,312 Leaae related defined inflows 16 - - - - - - 16 Granta 304 286 - 22 518 - - 1,130 Other 1,939 384 85 2,408 Total defined inflows ofreaomces 42,446 1,122 14,366 107 518 10,695 612 69,866 Fwd Balancea Nonap dable 2,127 269 - - - - - 2,396 Reanicted 2,310 15,866 4,288 13,928 15,362 7,426 4,360 63,540 Aasigned 19,622 - - - - - - 19,622 Unaasigned 37,977 (251) 3],]26 Total fwd balancea 62,036 16,135 4,288 13,928 15,362 7,426 4,109 123,284 Total liabilities, defined inflows ofre;omce; and fwd balwcea $ 108,441 $ 31,643 $ 18,]0] $ 17,953 $ 19,149 $ 18,121 $ 4,830 $ 218,844 The rotes to the Troancial statements are anlamgral part of this sW,m nt 34 City of Iowa City, Iowa Reconciliation of the Balance Sheet of the Governmental Funds to the Statement of Net Position June 30, 2023 (amounts expressed in thousands) Total governmental fund balances $ 123,284 Amounts reported for gover nn®tal activities in the statement of net position are different because: Internal service funds are used by management to charge the costs of certain activities to individual funds. The assets and liabilities of the internal service funds are included in governm®tal activities in the statement of net position. 59,596 Other long-term assets are not available to pay for current period expenditures and therefore are unavailable in the funds: Grants and other receivables - Earned but unavailable. 3,537 Capital assets used in governmental activities are not current financial resources and therefore are not reported in the funds. 267,382 Pension and OPEB related deferred outflows of resources and deferred inflows of resources are not due and payable in the current period and therefore are not reported in the funds. Deferred outflows of resources $ 8,016 Deferred inflows of resources (4,400) 3,616 Net pension liabilities are not due and payable in the current period and therefore are not reported in the funds. (28,613) Accrued compensated absences are not due and payable in the current period and therefore are not reported in the funds. (2,510) Accrued post employment benefit liabilities are not due and payable in the current period and therefore are not reported in the funds. (5,867) Subscription liabilities are not due and payable in the current period and therefore are not reported in the funds. (201) Bonds payable are not due and payable in the current period and therefore are not reported in the funds. (67,099) Notes payable are not due and payable in the current period and therefore are not reported in the funds. (211) Accrued interest on bonds (180) Internal balance due to integration of internal service funds (24,497) Total net position of governm®tal activities $ 328,237 The notes to the financial statements are an integral part o£tbi statement. Itb7 Revenues Tax.a Licen.a and permits Intergovamnental Charges for a -vicea Finea and forfelta Ilac of money and property macellaneous Total revenues Em-ditmws Current public safety public works Cullens and recreation Cormnunity and economic development General govenumnt Debt service: principal Interest Capital outlay Total expenclitu ea Excess (deficiency) of revamea over (under) expenditures Other Finandrg Sauces (Uses) Issuance ofdebt Sale ofcapital assets p ennuaa on iaauance ofbwda Tranafera in Tranafera out Total other financing aoacea and (urea) Net change in fwd balancea Fund Balarc , Beginning Fund Balarc , Ending City of Iowa City, Iowa Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds For the Year Ended June 30, 2023 (amounts expressed in thousands) Special Revenue Capital Rajeeta Bridge, Other Street, and Shared Traffic Other Revenue and Employee Other Control Debt Govenumntal General Grants Benefits Conatmction Conatmction Service Funds Total $ 43,989 $ 853 $ 14,261 $ - $ - $ 10,900 $ 4,608 $ 74,611 2,854 - - - - - - 2,854 3,918 13,060 258 567 2,%7 197 2,476 23,443 1,352 2,107 338 93 - - - 3,890 372 - - - - - - 372 1,591 817 - 250 443 343 103 3,547 2,163 94 220 879 121 3,477 56,239 16,931 14,857 1,130 4,289 11,440 7,308 112,194 26,923 - 712 14 - - - 27,649 2,700 6,595 - 171 1,974 - - 11,440 15,317 - - 692 - - - 16,009 3,556 3,788 - 103 - - 6,182 13,629 7,777 398 497 10 - 66 - 8,748 - - - - - 11,085 - 11,085 - - - - - 2,072 - 2,072 1,436 403 - 4,721 14,261 - - 20,82! 57,709 11,184 1,209 5,714 16,235 13,223 6,182 111,456 (1,470) 5,747 13,648 (4,584) (11,946) (1,783) 1,126 738 - - - 4,733 4,320 52 - 9,105 129 - - - 1,409 - - 1,538 - - - 465 421 5 - 894 13,034 1,650 - 3,592 4,082 1,790 483 21,631 (8,487) (3,658) (13,491) (35) (2,021) (1,932) (29,621) 4,676 (2,008) (13,491) 8,755 8,214 1,847 (1,449) 6,544 3,206 3,739 157 4,171 (3,732) 64 (323) 7,282 58,830 12,396 4,131 9,757 19,094 7,362 4,432 116,002 $ 62,036 $ 16,135 $ 4,288 $ 13,928 $ 15,362 $ 7,426 $ 4,109 $ 123,284 The nates to the financial statements are an mtegral part ofthls statement IGN City of Iowa City, Iowa Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Year Ended June 30, 2023 (amounts expressed in thousands) Net change in fund balances - total governmental funds $ 7,282 Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the asset. Capital outlays and contributed capital assets exceeded depreciation expense in the current year as follows: (30) Expenditures for capital assets $ 16,099 Capital assets contributed 211 Depreciation/amortization expense (9,070) 7,240 Bond proceeds are reported as other financing sources in governmental funds and thus contribute to the change in fund balance. In the statement of net position, however, issuing debt increases long-term liabilities and does not affect the statement of activities. Similarly, repayment of principal is an expenditure in (377) the governmental funds but reduces the liability in the statement of net position. Debt issued (9,105) Premium on bonds issued (894) Repayments of subscription liability 71 Repayments of debt 11,085 Amortization of premium 458 1,615 Because some revenues will not be collected for several months after the City's year end, they are not considered available revenues in the governmental funds. (482) Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds: Change in accmed compensated absences (30) Pension expense 3,691 Change in accmed post employment benefit liability (494) Change in accmed interest on debt (8) In the statement of activities, only the gain on the sale of the capital assets is recognized, whereas in the governmental funds, the proceeds from the sale increased financial resources. Thus, the change in net position differs from the change in fund balance by the cost of the capital asset sold. (377) Internal service funds are used by management to charge the costs of certain activities to individual funds. The net revenue of certain activities of internal service funds is reported with governmental activities. 3,027 Change in net position of governmental activities $ 21,464 The notes to the financial statements are an integral part of this statement. KiA City of Iowa City, Iowa 1,309 317 StatemmtofNa Pmtllov 216 11 Pmprietary Funds 111 2,384 luve30, 2023 EquH iapoobdcashandiwestments $ 10,565 (armmts enpn,r Iia Nmsnds) $ 13,062 $ 14,956 $ 2,539 $ 4,817 Govaummtal Bus a.4ype Aarvdka- Enteryrise Funds $ 46,059 Aarvdka - 64 O Ivtaval Wage H..m, E,e Sry TansR Traent Water SavfStnaeAuNo6y FundsTotal Funds Alas Qarrent assets 1,309 317 365 216 11 55 111 2,384 585 EquH iapoobdcashandiwestments $ 10,565 $ 27,188 $ 13,062 $ 14,956 $ 2,539 $ 4,817 $ 4,398 $ ]],525 $ 46,059 Rxervabks (va ofaWa. fr uvm➢aArbks)_ 64 35 41 % 4 16 2] 237 3,106 A.ntsandunb usage 74 1,529 1,301 990 187 48 71 4,200 128 Ivtaest 41 92 45 101 9 43 16 347 140 Notes - - - - - 317 - 317 - Lease 126 - - 16 - - m 170 20 Duefi other goats 4,422 61 13 136 - 205 441 5,278 81 Iavmtaies 523 - 408 - - - - 931 631 Ta lmnmt assns 15,751 M,870 14,K9 16,199 2,735 5,430 4,954 $8,768 47,M9 Nmcarrmt assets 1,780 1,780 ReQex[edassets 1505 980 269] 843 101 150 1,430 ]]O6 3,815 Equo f pooled cash and mts 5 1 4,370 16,035 - 2,654 312 23,3]] - A&.an sto oNa fvds - - - 4,200 - - - 4,200 - Leaseraavabk 1,355 - - 250 - - 533 2,138 m CapRalassas_ - - - - - - 1,389 1,389 - Laud 2,630 1,399 6,296 2,264 2,264 620 15,484 30,957 685 BuMags 15,399 36,858 21,019 5,402 - ],42] 48,122 13],22] 1,553 In,rw mts other than buMags - 7,802 2,]21 470 - m ]]3 11,800 % M h -ay and aquiprvent 15,649 13,000 11,456 2]] 2] 71 980 41,460 27,409 Iv6a9ruclure 955 164,712 75,841 2,123 73,Y10 - 17,451 352,852 3,634 A.Ina deprada (16,5]]) (102,813) (49,885) (21,034) (21,852) (5,517) (40,44]) (258,119) (16,284) IT subsaiptiovs - - - - - - 349 349 608 Amurmalatel 2,329 1183 4,552 14662 118 x_829 2257 26,930 1329 Cov9ructim f pro,. 443 2,926 3,628 1,852 4,7B 1.9]9 1,421 15,M3 421 Tofalv.c.tassts 19,859 123,885 78446 29839 58992 x_289 4,%4 361291 17633 Tofalassets 35,610 152755 93275 46,038 61]2] 1_719 49,938 450062 61692 lkf r 1MBows of Ren. Pmsiovrelnt defslmtWax 413 216 218 300 23 89 156 1,445 237 OMB related def el mtWws 134 65 91 91 5 26 52 464 % T.WdefelmtWwsofresources 547 281 339 391 m 115 208 1.909 303 Liabilities Qarrent tiabd6ka Accounts payable 1,309 317 365 216 11 55 111 2,384 585 cmtraas pa,bk 1 %1 331 461 78 - 1,017 2,452 - AcvusltiaMldies 64 35 41 % 4 16 2] 237 3,106 En,byenvestelbenef¢s 131 67 75 110 8 2A 64 479 67 Subsa aov habMy 34 m Due to other fnds - - - - - - 211 211 - Metooffi, ovamvmts - - 69 3 - 1 - 73 - Uvearvelrcvenue- ftaestpayabk - - 36 - - - - 36 - Bmdel d bt payAk (net ofuvamortizsl premfiuv and dismuvts) 1,780 1,780 Ta lmnent tislyd6ks 1505 980 269] 843 101 150 1,430 ]]O6 3,815 Nmcarrmt habdIlka LiabiM"Bs payabk e. resbictel assay Depos@s 3 - 1,148 ] - 1,315 8 2,481 - Advances e. fa fvds - - - - - - 1,389 1,389 - Enpbyenvestelbenef¢s 91 46 49 81 5 18 49 339 52 Subscriptim habMy - - - - - - - - 59 Bmdel d bt payAk (net ofuvarvortizsl premvuv and ants) -Net ensi babSy 1,513 789 913 I'm 87 354 527 5,319 857 Other poA avp1y tbenefshab 722 348 490 490 26 142 284 2,502 361 Land®clouv&,Ao bsurehabMy 129]8 129]8 Taal vovmrrent liabd¢ies 2,329 1183 4,552 14662 118 x_829 2257 26,930 1329 T.W habiM"Bs 3.834 2163 7 219 15 505 219 1.9]9 3.687 34.636 5.144 IlI,are InM Na Net iwe9ment in capital assets 18,498 123,323 70,009 8,890 58,914 2,635 43,122 325,391 1],49] Re tel by bend ordisaven - - 3,189 - - deo iaurca Lease relate) defect ftbws 1,481 - - 266 - - 562 2,309 40 Pension relateddefel ftbxs 205 107 128 150 12 48 71 721 116 OMB related defel inWws 197 95 133 133 ] 39 78 682 99 Defrrel at on refndfg 34 m ToW defelnflow ofresowces 1883 202 295 549 19 87 ]]1 3746 55 T5-5- N a Pavlov Net iwe9ment in capital assets 18,498 123,323 70,009 8,890 58,914 2,635 43,122 325,391 1],49] Re tel by bend ordisaven - - 3,189 - - - - 3,189 - Re tel by sate vafte- - - 3,030 - - - 3,030 - Resbictelfrflurenvprov is - Re tel by gant ag-mt - - - - - 1,336 - 1,336 - Uvrevrated 11912 27,348 12872 18,455 2603 4,7W 2222 $0239 42099 Ta leer pos n $ 30440 $ 1506]1 $ 860 ]0 S10_3 $ 6151] $x_]68 $45248 $ 413589 _$9 96 Adjustment to relf Ne crosotidafv ofmtaval savae fnd antir¢ks n,tn l to mtaprise fvds 21497 Net posdim ofbusia.Aype antivIIka $ 438086 ]he pores m tM Maacial vata & are an iragaalpat oftms skvmv 38 Capital contributions Transfers in Transfers out Change in net position Net Position, Beginning, as restated Net Position, Ending - 167 235 - 540 - 690 1,632 - 4,120 10 549 607 1,489 - 100 6,875 1,320 (332) (821) (438) (403) (55) (29) (2,078) (1,124) 1,985 (136) 1,903 1,677 1,032 (118) (1,147) 5,196 4,544 28,455 150,807 84,167 28,698 60,485 8,886 46,895 55,052 $ 30,440 $ 150,671 $86,070 $30,375 $ 61,517 $ 8,768 $ 45,748 Adjustment to reflect the consolidation of internal service fiord activities related to enterprise funds Change in net position of business -type activities The notes to the financial statements are an integral part of this statement. Ril 1,517 $ 6,713 $ 59,596 City of Iowa City, Iowa Statement of Revenues, Expenses and Changes in Fond Net Position Proprietary Fonds For the Year Ended June 30, 2023 (amounts expressed in thousands) Governmental Business -type Activities - Enterprise Funds Activities - Orha Internal Wastewater Housing Enterprise Service Transit Treatment Water Sanitation Stormwater Authority Funds Total Funds Operating Revenues: Charges for services $ 1,702 $ 12,333 $10,473 $11,837 $ 1,730 $ 307 $ 5,602 $43,984 $ 24,843 Miscellaneous 68 65 694 113 11 46 86 1,083 Total operating revenues 1,770 12,398 11,167 11,950 1,741 353 5,688 45,067 24,843 Operating Expenses: Personal services 4,541 3,282 3,571 3,947 338 974 2,240 18,893 2,467 Commodities 1,072 2,200 1,648 250 376 49 1,060 6,655 3,120 Services and charges 2,545 3,260 2,316 6,041 210 10,836 2,181 27,389 13,172 8,158 8,742 7,535 10238 924 11,859 5,481 52,937 18,759 Depreciation 1,253 4,308 2,306 802 1,475 255 2,279 12,678 2,566 Total operating expenses 9,411 13,050 9,841 11,040 2,399 12,114 7,760 65,615 21,325 Operating income (loss) 7,641 652 1,326 910 658 11,761 (2,072) 20,548 3,518 Nonoperating Revenues (Expenses): Gain (loss) on disposal of capital assets (18) 1 (4) - - - (203) (224) 37 Operating grants 5,059 - 6 - - 11,529 147 16,741 - Lease revenue 120 - - 16 - - 83 219 19 Interest income 345 670 638 582 64 169 137 2,605 779 Interest expense - - (26) - - - - (26) (5) Total nonoperating revenues (expenses) 5,506 671 614 598 64 11,698 164 19,315 830 Income (loss) before capital contributions and transfers (2,135) 19 1,940 1,508 (594) (63) (1,908) (1,233) 4,348 Capital contributions Transfers in Transfers out Change in net position Net Position, Beginning, as restated Net Position, Ending - 167 235 - 540 - 690 1,632 - 4,120 10 549 607 1,489 - 100 6,875 1,320 (332) (821) (438) (403) (55) (29) (2,078) (1,124) 1,985 (136) 1,903 1,677 1,032 (118) (1,147) 5,196 4,544 28,455 150,807 84,167 28,698 60,485 8,886 46,895 55,052 $ 30,440 $ 150,671 $86,070 $30,375 $ 61,517 $ 8,768 $ 45,748 Adjustment to reflect the consolidation of internal service fiord activities related to enterprise funds Change in net position of business -type activities The notes to the financial statements are an integral part of this statement. Ril 1,517 $ 6,713 $ 59,596 Cash Flows Frain Capital and Related Ffiancing An vada Caphal,antsraretvel City of Iowa City, Iowa - - - - - 539 3,612 - Statement of Cash Fla s 120 - - 16 - - 83 219 Pmpmtaty Funds Arquisi and conmruRbn ofpmpaty and 42,888 Cash aiM Cash Equwaknts, Fabling $ 105]0 $ 2] 189 $17432 $ 30991 For Ne Year Evdel June 30,2M ]4]1 $ equipment (309) ($743) 479 (1,821) (1,521) (amounts enpn,e in Nmsands) (7,791) (3,516) Prat lsfiomsakofffop y 6 1 - - - - 1 8 213 ]Rb al paid on subecrrytim labii y t3ovevanenfal _ Busmesslym ARrvhks-Evtaprae Fuvds _ _ _ ARrvhks- Intemm paid m.bs fion labtM'y _ _ _ OlFes _ _ Ivtaval (5) Wamexate - Hmsmg Evtaprae - - Service (3,840) Transh Treatment Wate Sanhatbu St.9, AuNorhy Funds Toth Funds Cffih Flaws Fm. Operating Acdvlties - - 207 - Net rash tows fiom (usel for) caphal and related 13 (28) Pa ts@anmstanesandu�s $ 1,7M $ 12,276 $10,992 $ 11,807 $ 1,716 $ 356 $ 5,688 $44,539 $ - Pa ts@an users - - - - - - - - 21,886 Payments to supplies (2,979) (593M) (3,702) (5,575) (591) (MQ ) (2,491) (31,629) (16,470) Paymentstoanpbye (5,026) (3,600) 391 (4 256) 363 1073 (23%) 20621 2761 Net rash flows @an(u lfor)op afag aRrvhks (6901) 3,292 3,374 1,9]6 759 (11,621) 807 (],]14) 5,652 C Flaws Form Nanraphal Finandn Activhla - Aceuslgabd¢ks (192) (75) (86) (101) C tsrecavel 5,005 2 ] 3 - 11,321 89 16,430 - Traat eav oNe fila& 4,120 3 2 607 36 - 100 4,868 1,320 Traat to ofe fiords - (332) (821) (438) (403) (55) (29) (2,078) (1,121) RepayaamVfpayment) ofnotes ra abk - - - - - 9 - 9 - AdvancestooNefimds - - - - - - 211 211 - Repay.entofadv.c flan other fiauds - - 562 - - 373 189 - Net ra flows fiom(u l for) nonrapdalfinancing m - Napensionliabd 1,460 760 908 actrvhks 9,125 (327) 812 734 (367) 11$78 (2) 19629 196 Cash Flows Frain Capital and Related Ffiancing An vada Caphal,antsraretvel 3,073 - - - - - 539 3,612 - Lensemvenuesrecavel 120 - - 16 - - 83 219 19 Arquisi and conmruRbn ofpmpaty and 42,888 Cash aiM Cash Equwaknts, Fabling $ 105]0 $ 2] 189 $17432 $ 30991 $ 2539 $ ]4]1 $ equipment (309) ($743) 479 (1,821) (1,521) - (1,873) (7,791) (3,516) Prat lsfiomsakofffop y 6 1 - - - - 1 8 213 ]Rb al paid on subecrrytim labii y _ _ _ _ _ _ _ _ (55) Intemm paid m.bs fion labtM'y _ _ _ _ _ _ _ _ (5) ] ,*alpai onbondeddebt - (2,085) (1,755) - - - - (3,840) - Intemmpaid mbmdMdebt - (121) (6) - - - - 207 - Net rash tows fiom (usel for) caphal and related 13 (28) - - (2) (4) (55) f emgactrvHks 2,890 (4,948) (193e) (1,808) (1,521) (1,250) (7,999) (3944) C Flaws Frain Invaling Activlda 61 Accounts payabk ]]5 ]7 217 (33) (8) Intemm m 8rve9 is 305 582 599 497 56 143 122 23M 667 Namaease(deeense) m cash and ash aq.rvakrts 6,019 (1,401) 1,799 1,399 (1,073) (200) (323) 6,220 3,171 Cash arM Cash Equivalents, Beginning 4,551 M,590 15,03 29,592 3,612 7,671 5,033 91682 42,888 Cash aiM Cash Equwaknts, Fabling $ 105]0 $ 2] 189 $17432 $ 30991 $ 2539 $ ]4]1 $ 4]10 $100902 $�M9 Rm.willedan of ope.ting Inmme (loo) to ort msh Po fin. (used b) opemtingac MV Opeatbga .ve(bss) $ (7,641) $ (652) $ 1,326 $ 910 $ (658) $ (11,761) $ (2,072) $(20,548) $ 3,518 Adju eats to recoucde opeatbg in. (bo) to net rash tows flan (usel for) operetmg activhks_ Depmcatbv expense 1,253 4,308 2,306 802 1,475 255 2,2 12,678 2,566 Changes in Reoavabka Accounts and unbael usage (74) (122) (202) (112) (25) (21) 6 (550) 98 Duee.oNegove.anents 13 - 13 (28) - - (2) (4) (55) Iwmtaks (118) - (21) - - - - (142) 61 Accounts payabk ]]5 ]7 217 (33) (8) 9 750 1,]8] 18 Coam.tspayabk (19) - - - - - - (19) - Aceuslgabd¢ks (192) (75) (86) (101) (7) (38) (53) (555) (333) Empbyenvestel6enefQs (16) (3) (1) 2 - (3) 3 (18) 11 Due to offs, ovevavents - (1) 69 (2) - (28) - 38 - Unearnelrcvenue - - (6) - - (54) - (60) - D,os s (5) - 20 (3) - 78 (4) m - Napensionliabd 1,460 760 908 1,068 m 342 509 5,131 825 Defmxl mttlows ofresowces (4) (2) 12 (2) - 6 (12) (2) (2) Defarxl bflows ofresowces (1,783) (],022) (1 12) (1907) (1M) (416) (617) (6,461) (1,080) Other poo enpbyment bene&slabtM'y 50 2A m m 2 10 20 174 25 Landfdl ebsurdpomclo.m b btMy 751 751 ToWadja9 is 1,340 3,914 2MB 1,066 1417 140 2879 12834 2134 Nd rash flows fiom(usel fis) opeatbg actirhks $ 6 O] $ 3292 S 33374 $ 19]6 $ ]59$ 1e $ 807 $ ]]14 $ 5,662 Nonrnsh Investing, Capital, end Fln.MgActivities: Cmtnbutbvs of raphM assets ban gwenwentavdoNes $ - $ 174 $ 782 $ - $ 1,993 $ - $ - $ 2,919 $ $ - $ - $ - $ - $ - $ - $ 314 $ 314 $ Capkal,ants not ya raavel Opeatmg,ants not ya recavel $ 4,381 $ 61 $ 13 $ 81 $ Me nares m tM fin mw uatane are an intgaalpat oftNs sharcm El $ 205 $ 121 $ 4,865 $ City of Iowa City, Iowa Statement of Fiduciary Net Position Custodial Fund June 30, 2023 (amounts expressed in thousands) Project Green Assets Equity in pooled cash and investments $ 70 Total assets 70 Liabilities Accounts payable 5 Total liabilities 5 Net Position Restricted for an organization $ 65 The notes to the financial statements are an integral part of this statement. 41 City of Iowa City, Iowa Statement of Changes in Fiduciary Net Position Custodial Fund For the Year Ended June 30, 2023 (amounts expressed in thousands) Additions: Contributions Interest Total additions Deductions: Commodities Services and charges Total deductions Change in net position Net Position, Beginning Net Position, Ending Project Green $ 30 2 32 23 23 9 56 $ 65 The notes to the financial statements are an integral part of this statement. E1114 City of Iowa City, Iowa Notes to Financial Statements June 30, 2023 1. Accounting Policies The City of Iowa City, Iowa, (the City) was incorporated April 6, 1853, and operates under the Council/Manager form of government. The City provides a broad range of services to its citizens including general government, public safety, streets, parks, and cultural facilities. It also operates an airport, a mass transportation system, parking facilities, water treatment, wastewater treatment, storm water collection, sanitation collection and disposal (including landfill operations) and a housing authority. The financial statements of the City have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant accounting policies of the City are described below. The Reporting Entity For financial reporting purposes, the City includes all of its funds, organizations, agencies, boards, commissions, and authorities. The City has also considered all potential component units for which it is financially accountable, and other organizations for which the nature and significance of their relationship with the City are such that exclusion would cause the City's financial statements to be misleading or incomplete. The Governmental Accounting Standards Board has set forth criteria to be considered in determining financial accountability. These criteria include appointing a voting majority of an organization's governing body, and (1) the ability of the City to impose its will on that organization or (2) the potential for the organization to provide specific benefits to or impose specific financial burdens on the City. There were no component units required to be included. Government -Wide and Fund Financial Statements The government -wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information on all of the non -fiduciary activities of the primary government. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business type activities, which rely to a significant extent on fees and charges for support. The Statement of Net Position presents the City's nonfiduciary assets, deferred outflows of resources, liabilities, and deferred inflows of resources, with the difference reported as net position. Net position is reported in the following categories: Net investment in capital assets consists of capital assets, net of accumulated depreciation/amortization and reduced by outstanding balances for bonds, notes and other debt attributable to the acquisition, construction, or improvement of those assets. Restricted net position results when constraints placed on net position use are either externally imposed or are imposed by law through constitutional provisions or enabling legislation. Unrestricted net position consists of net position not meeting the definition of the preceding categories. Unrestricted net position is often subject to constraints imposed by management which can be removed or modified. E1161 The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported as general revenues As a general rule, the effect of inter -fund activity has been eliminated from the government -wide financial statements. Exceptions to this general rule are charges between the City's water and sewer function and various other functions of the government. Eliminations of these charges would distort the direct costs and program revenues reported for the various functions concerned. Separate financial statements are provided for governmental funds and proprietary funds. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. Description of Funds These financial statements include all funds owned or administered by the City or for which the City acts as custodian. The accounts of the City are organized on the basis of funds, each of which is considered to be a separate accounting entity. The fund categories are governmental, proprietary, and fiduciary. Each fund is accounted for by providing a separate set of self -balancing accounts that comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, net position, revenues, and expenditures or expenses, as appropriate. The individual funds account for the governmental resources allocated to them for the purpose of carrying on specific activities in accordance with laws, regulations, or other restrictions. Basis of Accounting The accounting and financial reporting treatment applied to a fund is determined by its "measurement focus." The government -wide financial statements, proprietary funds, and custodial funds are accounted for on the flow of economic resources measurement focus and use the accrual basis of accounting. Under the accrual method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. All governmental funds are accounted for using a current financial resources measurement focus, which generally includes only current assets and current liabilities on the balance sheet. The modified accrual basis of accounting is used for these funds. Under the modified accrual basis, revenue is recognized when susceptible to accrual, which is in the period in which it becomes both available (collectible within the current period or soon thereafter to be used to pay liabilities of the current period) and measurable (the amount of the transaction can be determined). Revenue accrued includes property taxes, intergovernmental revenue, and interest earned on investments (if they are collected within 60 days after the year-end). Expenditures are recorded when the related fund liability is incurred. Principal and interest on long-term debt, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. The City reports the following major governmental funds: The General Fund is the City's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The Other Shared Revenue and Grants Fundis used to account for revenue from various sources, primarily road use tax monies from the State of Iowa and reimbursable programs funded by federal and state grants. 44 The Employee Benefits Fund is used to account for the employee benefits related to those employees who are paid through governmental fund types, which are fimded by a separate property tax levy. The Other Construction Fund accounts for the construction or replacement of other City general capital assets, such as administrative buildings with various funding sources, including general obligation bonds, intergovernmental revenues, and contributions. The Bridge, Street, and Traffic Control Construction Fund accounts for the construction or replacement of infrastructure capital assets, such as streets, bridges, dams, sidewalks, and lighting system. The Debt Service Fund accounts for the accumulation of resources for the payment of general long- term debt principal, interest, and related costs. The City reports the following major proprietary funds: The Transit Fundis used to account for the operation and maintenance of the public transportation system. The Wastewater Treatment Fund is used to account for the operation and maintenance of the wastewater treatment facility and sanitary sewer system. The Water Fundis used to account for the operation and maintenance of the water system. The Sanitation Fund is used to account for the operation and maintenance of the solid waste collection system and landfill. The Stormwater Fund is used to account for the operation and maintenance of the stormwater utility system. The Housing Authority Fund is used to account for the operations and activities of the City's low and moderate income housing assistance and public housing programs. The City has two nonmajor enterprise fiords, the Airport Fund is used to account for the operation and maintenance of the airport facility and the Parking Fund is used to account for the operation and maintenance of the "on" and "off' street public parking facilities. Additionally, the City reports internal service fimds to account for goods and services provided by one department to other City departments on a cost reimbursement basis. The fimds in this category are the Equipment Maintenance Fund, Central Services Fund, Loss Reserve Fund, and the Information Technology Fund. The City also reports a custodial fund account for monies held for Project Green, a local 501(c)(3) not-for- profit agency. Proprietary funds distinguish operating revenues and expenses from non operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fimd's principal ongoing operations. The principal operating revenues of the City's enterprise funds and of the City's internal service funds are charges to customers for sales and services. Operating expenses for enterprise funds and internal service fimds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this defmition are reported as non-operating revenues and expenses. When both restricted and unrestricted resources are available for use, it is the government's policy to use restricted resources first, then unrestricted resources as they are needed. Uses of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue, expenditures and expenses, as appropriate, during the reporting period. Actual results could differ from these estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of other postemployment benefit obligation, net pension liability, landfill closure and post -closure care costs, total capacity of the landfill at closure, and calculation of the costs of claims incurred, but not reported. Cash and Investments The City maintains one primary demand deposit account through which the majority of its cash resources are processed. Substantially all investment activity is carried on by the City in an investment pool, except for those funds required to maintain their investments separately. The earnings on the pooled investments are allocated to the funds on a systematic basis. All investments are stated at fair value except for the Iowa Public Agency Investment Trust (IPAIT) which is valued at amortized cost pursuant to Rule 2a-7 under the Investment Company Act of 1940. For the purpose of the Statement of Cash Flows, restricted and non -restricted investments with a maturity of three months or less when purchased are considered cash equivalents. Receivables and Revenue Recognition Property tax receivable is recognized in governmental funds on the levy or lien date, which is the date that the tax asking is certified by the City to the County Board of Supervisors. Current year delinquent property tax receivable represents unpaid taxes from the current year. The succeeding year property tax receivable represents taxes certified by the City to be collected in the next fiscal year for the purposes set out in the budget for the next fiscal year. By statute, the City is required to certify its budget to the County Auditor by March 31 of each year for the subsequent fiscal year. However, by statute, the tax asking and budget certification for the following fiscal year becomes effective on the first day of that year. Although the succeeding year property tax receivable has been recorded, it will not be recognized as revenue until the year for which it is levied. Federal and state grants are recorded as receivables and the revenue is recognized during the period in which the City fulfills the requirements for receiving the grant awards, as long as the susceptible to accrual criteria are met. Income from investments in all fund types and from charges for services in proprietary fund types is recognized when earned. Licenses and permits, fines and forfeitures, fees and refunds, charges for services (in governmental fund types), miscellaneous, and other revenues are recorded as revenue when received in cash because they are generally not measurable until actually received. Inventories Inventories are recognized only in those funds in which they are material to the extent of affecting operations. For the City, these are the Other Shared Revenue and Grants Fund, Transit Fund, Water Fund, and the Equipment Maintenance Fund. Inventories of materials and supplies are determined by actual count and priced on the FIFO method in the Other Shared Revenue and Grants Fund and the average cost method for the Transit, Water and Equipment Maintenance Fund. Leases The City is a lessor for several noncancellable leases of City property. The City recognizes lease receivables and deferred inflows of resources at the commencement of the lease term in the governmental Elie activities, the business type activities, governmental, business type, and internal service fixed financial statements. As lessor, the assets underlying the lease are not derecognized. At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term. Key estimates and judgments include how the City determines the discount rate it uses to discount the expected lease receipts to present value, lease term and lease receipts. The City uses its most recent borrowing rate as the discount rate for leases. The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee. The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable. Subscription -Based Information Technology Arrangements (SBITA) The City has entered into contracts that convey control of the right to use information technology software. The City has recognized subscription liabilities and intangible right -to -use IT subscription assets in the government -wide financial statements, and in the proprietary fund financial statements. At the commencement of the IT subscription term, the City initially measures the subscription liability at the present value of payments expected to be made during the subscription term. Subsequently, the IT subscription liability is reduced by the principal portion of payments made. The right -to -use IT subscription asset is initially measured as the sum of the initial IT subscription liability, adjusted for payments made at or before the commencement date, plus capitalization implementation costs less any incentives received from the SBITA vendor at or before the commencement of the subscription term. Subsequently, the right -to -use IT subscription asset is amortized on a straight-line basis over its useful life. Key estimates and judgments related to IT subscription arrangements include how the City determines the discount rate it uses to discount the expected payments to present value, term and payments. The City uses its most recent borrowing rate as the discount rate. The IT subscription term includes the noncancellable period of the subscription. Payments included in the measurement of the liability are composed of fixed payments. The City monitors changes in circumstances that would require a remeasurement of its IT subscription and will remeasure the right -to -use IT subscription asset and liability if certain changes occur that are expected to significantly affect the amount of the subscription liability. Right -to -use IT subscription assets are reported with other capital assets and IT subscription liabilities are reported with long-term debt on the statement of net position. Capital Assets Capital assets, which include property, buildings, equipment, and infrastructure assets (e.g., roads, bridges, water mains, and similar items), are reported in the applicable governmental or business -type activities columns in the government -wide financial statements. The City follows the policy of not requiring 47 capitalization of an asset with an initial, individual cost of less than $50,000 for infrastructure, $25,000 for buildings and improvements, and $5,000 for equipment assets. Such assets are recorded at original purchase cost or at acquisition value at the date of donation when received as donated properties. Depreciation is computed using the straight-line method over the following estimated useful lives: Infrastructure 3 — 100 years Buildings and structures 20 — 50 years Improvements other than buildings 10 — 50 years Vehicles 2 — 20 years Other equipment 3 — 30 years Deferred Outflows of Resources Deferred outflows of resources represent a consumption of net assets that applies to a future period(s) and will not be recognized as an outflow of resources (expense/expenditure) until then. Deferred outflows of resources consist of unrecognized items not yet charged to pension and OPEB expense and contributions from the employer after the measurement date but before the end of the employer's reporting period. Bond Premiums and Discounts Debt issued at a premium or discount is recorded net of the unamortized premium or discount. In the governmental funds, premiums and discounts are recorded entirely as other financing sources or uses in the year of issuance. In the proprietary funds and the government -wide statements, they are amortized over the life of the bonds. Compensated Absences Permanent City employees accumulate vacation and sick leave hours for subsequent use or for payment upon death, resignation, or retirement. The City pays its employees (except firefighters) one-half of the accumulated sick leave at the time of termination on the basis of the employee's then effective hourly base salary, provided that the dollar amount of the payment may be up to, but not exceed, the amount that an employee would be paid if the employee had terminated on June 28, 1985. Employees hired on or after June 29, 1985, are not eligible for payment of accumulated sick leave upon termination, death, or retirement. Pensions For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Iowa Public Employees' Retirement System and the Municipal Fire and Police Retirement System (Systems') and additions to/deductions from the Systems' fiduciary net position have been determined on the same basis as they are reported by the Systems. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Landfill Closing Costs Costs expected to be incurred in ultimately closing the present landfill site are being systematically provided for through charges to expense over the estimated useful life of the landfill on the basis of capacity used (see Note 8). Deferred Inflows of Resources Deferred inflows of resources represent an acquisition of net assets that applies to a future period(s) and will not be recognized as an inflow of resources (revenue) until that time. Although certain revenues are measurable, they are not available. Available means collected within the current year or expected to be collected soon enough thereafter to be used to pay liabilities of the current year. Deferred inflows of 48 resources in the governmental fixed financial statements represent the amount of assets that have been recognized, but the related revenue has not been recognized since the assets are not collected within the current year or expected to be collected soon enough thereafter to be used to pay liabilities of the current year. The lease related deferred inflows is the unamortized portion of the lease receivable. Deferred inflows of resources consist of property tax receivable, lease related deferred inflows, grants receivable and other receivables. Deferred inflows of resources in the Statement of Net Position consist of succeeding year property tax receivable that will not be recognized as revenue until the year for which they are levied, the difference in the carrying value of refimded debt and it's acquisition price, lease related deferred inflows, and the unamortized portion of pension and OPEB related items. Budgetary and Legal Appropriation and Amendment Policies The City prepares and adopts an annual function budget, as prescribed by Iowa statutes, for all funds except internal service and custodial fimds. This is formalized in a separate budgetary report, the Financial Plan. This budget is adopted on or before April 30 of each year to become effective July 1 and constitutes the City's appropriation for each program and purpose specked therein until amended. The adopted budget must include the following: a. Expenditures for each fimction: Public safety Public works Health and social services Culture and recreation Community and economic development General government Debt service Capital projects Business-type/enterprise b. The amount to be raised by property taxation c. Income from sources other than property taxation d. Transfers in and transfers out The legal level of control (the level at which expenditures may not legally exceed appropriations) is the function level for all fimds combined, rather than at the individual fixed level. Management can transfer appropriations within a fimction, within a fixed type, and between fund types, without the approval of the governing body so long as the total budget by fixnction area will not be exceeded. It is necessary, therefore, to aggregate the expenditures of the budgeted activities within the governmental fund types with the expenditures of the budgeted activities within the enterprise fimds on a function basis, and to compare such function totals to function budgeted totals in order to demonstrate legal compliance with the budget. The City's budget for revenue focuses on aggregated totals by revenue source. The City formally adopts budgets for several funds that are not required by state law to be included in the annual fimction budget. Annual operating budgets are adopted for the internal service fimds for management control purposes. Such budgets, however, are not legally required to be adopted under state statutes. A City budget for the current fiscal year may be amended for any of the following purposes as prescribed by Iowa statute: a. To permit the appropriation and expenditure of unexpended, unencumbered cash balances on hand at the end of the preceding fiscal year. b. To permit the appropriation and expenditure of amounts anticipated being available from sources other than property taxation. c. To permit transfers between funds. d. To permit transfers between functions. El &I A budget amendment must be prepared and adopted in the same manner as the original budget. The City's budget was amended as prescribed, and the effects of those amendments are shown in the accompanying budgetary comparison schedule. The original budget was increased by $12,441,938 in revenues and other financing sources and by $83,423,121 in expenditures and other financing uses. Appropriations, as adopted or amended, lapse at the end of the fiscal year. As allowed by GASB Statement No. 41, Budgetary Comparison Schedules —Perspective Differences, the City presents budgetary comparison schedules as required supplementary information based on the program structure of nine functional areas as required by state statute for its legally adopted budget. Restricted Assets Assets within the individual funds, which can be designated by the City Council for any use within the fund's purpose, are considered to be unrestricted assets. Assets, which are restricted for specific uses by bonded debt requirements, grant provisions, or other requirements, are classified as restricted assets. Liabilities, which are payable from restricted assets, are classified as such. Classification of Fund Balances Fund balances for the governmental funds are reported in classifications based on the nature of any limitations requiring the use of resources for specific purposes (see Note 9). Net Position Net position represents the difference between assets, deferred outflows of resources, liabilities, and deferred inflows of resources. Net investment in capital assets consists of capital assets, net of accumulated depreciation and amortization, reduced by the outstanding balances of any borrowings used for the acquisition, construction, or improvement of those assets. Net investment in capital assets excludes unspent bond proceeds. As of June 30, 2023, there were unspent bond proceeds totaling $21,842,609 in governmental activities. Net position is reported as restricted when there are limitations imposed on its use through enabling legislation or through external restrictions imposed by creditors, grantors, or laws or regulations of other governments. Net position restricted through enabling legislation consists of $4,655,000 for employee benefits, $15,288,000 for capital projects, $7,246,000 debt service, $260,000 for police, $3,313,000 for grant agreements, and $9,286,000 for other purposes. When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted resources first, and then unrestricted resources as they are needed. 2. Cash and Pooled Investments The City's deposits in banks at June 30, 2023 were entirely covered or collateralized by federal depository insurance, national credit union administration, letters of credit held by the City or by the State Sinking Fund in accordance with Chapter 12C of the Code of Iowa. This chapter provides for additional assessments against the depositories to insure there will be no loss of public funds. The City is authorized by statute to invest public funds in obligations of the United States government, its agencies and instrumentalities; certificates of deposit or other evidences of deposit at federally insured Iowa depository institutions approved by City Council and secured pursuant to the limitations set forth in Chapter 12C of the Code of Iowa; prime eligible bankers acceptances; certain high rated commercial paper or other short-term corporate debt; perfected repurchase agreements; Iowa Public Agency Investment Trust (IPAIT); certain registered open—end management investment companies registered with the Securities & Exchange Commission under the federal Investment Company Act of 1940; and warrants or improvement certificates of a drainage district. 6111 At June 30, 2023 the City of Iowa City had the following investments: The City uses the fair value hierarchy established by generally accepted accounting principles based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets. Level 2 inputs are significant other observable inputs. Level 3 inputs are significant unobservable inputs. The recurring fair value measurement for the Federal Home Loan Mortgage Corporation securities of $5,951,734, the Federal Farm Credit Bank Note securities of $3,141,260, the Federal National Mortgage Association securities of $8,279,660, the Federal Home Loan Bank securities of $60,358,627 and the United States Treasury securities of $20,254,204 were determined using the last reported sales price at current exchange rates (Level 1 inputs). The City had no other investments meeting the disclosure requirements of Governmental Accounting Standards Board Statement No. 72. In addition, the City had investments in the Iowa Public Agency Investment Trust (IPAIT), which are valued at an amortized cost of $202,253, which approximates fair value. The Diversified Portfolio consists of cash and short-term investments valued at amortized cost, which approximates fair value, pursuant to Governmental Accounting Standards Board Statement No. 79. The Iowa Public Agency Investment Trust (IPAIT) represents an investment in a pool managed by others. IPAIT is a common trust established under Iowa law pursuant to Iowa Code Chapter 28E in 1987 to enable eligible Iowa public agencies to safely and effectively invest their available operating and reserve funds. IPAIT is registered under the Investment Company Act of 1940. The IPAIT portfolios have followed established money market mutual fund investment parameters designed to maintain a $1 per unit net asset value since inception and were registered with the Securities and Exchange Commission (SEC). Interest rate risk - The City's investment policy limits the investment of operating finds to investments that mature within 397 days. The portion of operating funds in excess of 33% of operating funds may be invested in certificates of deposit which mature within 63 months or less. Funds not identified as operating funds may be invested in instruments with maturities longer than 397 days. Credit risk State law limits investments to commercial paper and corporate bonds to the top two ratings issued by nationally recognized statistical rating organizations. It is the City's policy to comply with rating restrictions. The investment in Iowa Public Agency Investment Trust is not rated by Moody's Investors service as it is a state security that is backed by the full faith and credit of the issuing government and is not subject to credit risk Concentration of credit risk The City investment policy limits the amount that may be invested in any one issuer to a maximum amount approved by the City Council. Due to legal and budgetary reasons, the General Fund is assigned a portion of the investment earnings associated with other finds. These finds are the Employee Benefits, Other Shared Revenue and Grants, and Sanitation funds. 51 Fair Investment Value Maturities Federal Home Loan Mortgage Corporation Notes $ 5,951,734 July 2023 to February 2025 Federal Farm Credit Bank Notes 3,141,260 December 2024 to September 2040 Federal National Mortgage Association 8,279,660 November 2023 to June 2029 Federal Home Loan Bank 60,358,627 July 2023 to January 2027 United States Treasury 20,254,204 December 2023 to January 2024 $ 97,985,484 The City uses the fair value hierarchy established by generally accepted accounting principles based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets. Level 2 inputs are significant other observable inputs. Level 3 inputs are significant unobservable inputs. The recurring fair value measurement for the Federal Home Loan Mortgage Corporation securities of $5,951,734, the Federal Farm Credit Bank Note securities of $3,141,260, the Federal National Mortgage Association securities of $8,279,660, the Federal Home Loan Bank securities of $60,358,627 and the United States Treasury securities of $20,254,204 were determined using the last reported sales price at current exchange rates (Level 1 inputs). The City had no other investments meeting the disclosure requirements of Governmental Accounting Standards Board Statement No. 72. In addition, the City had investments in the Iowa Public Agency Investment Trust (IPAIT), which are valued at an amortized cost of $202,253, which approximates fair value. The Diversified Portfolio consists of cash and short-term investments valued at amortized cost, which approximates fair value, pursuant to Governmental Accounting Standards Board Statement No. 79. The Iowa Public Agency Investment Trust (IPAIT) represents an investment in a pool managed by others. IPAIT is a common trust established under Iowa law pursuant to Iowa Code Chapter 28E in 1987 to enable eligible Iowa public agencies to safely and effectively invest their available operating and reserve funds. IPAIT is registered under the Investment Company Act of 1940. The IPAIT portfolios have followed established money market mutual fund investment parameters designed to maintain a $1 per unit net asset value since inception and were registered with the Securities and Exchange Commission (SEC). Interest rate risk - The City's investment policy limits the investment of operating finds to investments that mature within 397 days. The portion of operating funds in excess of 33% of operating funds may be invested in certificates of deposit which mature within 63 months or less. Funds not identified as operating funds may be invested in instruments with maturities longer than 397 days. Credit risk State law limits investments to commercial paper and corporate bonds to the top two ratings issued by nationally recognized statistical rating organizations. It is the City's policy to comply with rating restrictions. The investment in Iowa Public Agency Investment Trust is not rated by Moody's Investors service as it is a state security that is backed by the full faith and credit of the issuing government and is not subject to credit risk Concentration of credit risk The City investment policy limits the amount that may be invested in any one issuer to a maximum amount approved by the City Council. Due to legal and budgetary reasons, the General Fund is assigned a portion of the investment earnings associated with other finds. These finds are the Employee Benefits, Other Shared Revenue and Grants, and Sanitation funds. 51 3.Interfund Balances and Transfers Interfund transfers for the year ended June 30, 2023, consisted of the following: Transfer from Transfer to General $ - Other Shared Revenue and Grants 1,002,662 Debt Service 20,052 Capital Projects Other Construction 1,704,759 Capital Projects Bridge, Street and $ 92,426 $ 12,843,344 $ - 647,269 443,172 $ 43,345 1,769,805 118,259 Traffic Control Construction Capital Projects 2,615,000 Bridge, Street Other Capital Projects and Traffic Shared Revenue Employee Other Control Nonmajor General and Grants Benefits Construction Construction Governmental Transfer to General $ - Other Shared Revenue and Grants 1,002,662 Debt Service 20,052 Capital Projects Other Construction 1,704,759 Capital Projects Bridge, Street and $ 92,426 $ 12,843,344 $ - 647,269 443,172 $ 43,345 1,769,805 118,259 Traffic Control Construction 412,878 2,615,000 - - - - Nonmajor Governmental 167,161 315,383 - - - - Transit 4,119,501 - - - - - Wastewater Treatment 2,232 - - - 7,360 - Water 1,936 - - - 547,179 - Sanitation/Landfill 606,538 - - - - - Stonnwater 1,232 - - 35,000 1,452,747 - Nonmajor Enterprise 100,000 - - - - - Internal Service 348,065 191,850 - - 13,950 - Total Transfer to $ 8,487,016 $ 3,657,831 $ 13,490,613 $ 35,000 $ 2,021,236 $ 1,931,409 Transfers are used to move revenues and bond proceeds from the fund that State statutes or the budget requires to collect them to the fund that the State statutes or the budget requires to expend them. 6SIA Wastewater Treatment Water Transfer from Housing Nonmajor Internal Sanitation Stounwater Authority Enterprise Service Total Transfer from $ - $ 54,791 $ - $ - $ 13,033,906 - - - - - - - 1,649,931 - - - - - - - 1,789,857 - - - 326,039 - - 1,000,000 3,592,229 33,112 820,661 - 76,626 - - 123,847 4,082,124 - - - - - - - 482,544 - - - - - - - 4,119,501 - - - - - - - 9,592 - - - - - - - 549,115 - - - - - - - 606,538 - - - - - - - 1,488,979 - - - - - - - 100,000 298,510 - 438,477 - - 29,122 - 1,319,974 $ 331,622 $ 820,661 $ 438,477 $ 402,665 $ 54,791 $ 29,122 $ 1,123,847 $ 32,824,290 6N Interfimd balances for the year ended June 30, 2023, consisted of the following: Due to: Nonmajor Governmental Nonmajor Enterprise Total Due from General $ 3,312 210,536 $ 213,848 Interfimd balances at June 30, 2023, include due to/from other funds, which represent amounts for negative cash balance fimding. The $3,312 advance to Nonmajor Governmental Funds and the $210,536 advance to the Nonmajor Enterprise Funds are expected to be repaid within the next year. Advances to: Other Shared Revenue and Grants Other Construction Nonmajor Enterprise Total Advances from Debt Service Sanitation Total $ 34,555 2,811,049 1,389,014 $ 34,555 2,811,049 1,389,014 $ 34,555 $ 4,200,063 $ 4,234,618 Interfimd balances at June 30, 2023, include advances to/from other fimds, which represent amounts for construction loans and a revenue bond redemption loan. $17,585 of the $34,555 advance to the Other Shared Revenue and Grants Fund is not expected to be repaid within the next year. $2,619,085 of the $2,811,049 advance to the Other Construction Fund is not expected to be repaid within the next year. $914,190 of the $1,389,014 advance to the Nonmajor Enterprise Funds is not expected to be repaid within the next year. 54 4. Lease Receivable During the year ended June 30, 2023, the City recognized the following related to its non-regulated leases in which the maximum possible lease term is noncancelable by both the lessee and the lessor and is more than 12 months. The leases are not considered principal ongoing operations of the City. Governmental Activities: On October 6, 2015, the City entered into an agreement to lease building space in the Library building. The initial term of the lease was for a four-year term with an extension of an additional four-year term. The City believes it is more likely than not that the term will be for eight years. The monthly rent is $2,000. The City recognized $23,125 in lease revenue and $875 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $15,817. The City has a deferred inflow of resources associated with this lease of $15,817 that will be recognized as revenue over the lease term. On November 10, 2015, the City entered into an agreement to lease space for fiber. The initial term of the lease was for a ten-year term with no option of extension. The City believes it is more likely than not that the term will be for ten years. The annual rent is $20,793. The City recognized $18,984 in lease revenue and $1,809 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $39,740. The City has a deferred inflow of resources associated with this lease of $39,740 that will be recognized as revenue over the lease term. Business -type Activities: On August 16, 2012, the City entered into an agreement to lease building space in the Court Street Transportation Center. The initial term of the lease was for a three-year term with an extension of up to five additional three-year terms. The City believes it is more likely than not that the term will be for eighteen years. The monthly rent is $1,450. The City recognized $13,763 in lease revenue and $3,637 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $110,605. The City has a deferred inflow of resources associated with this lease of $110,605 that will be recognized as revenue over the lease term. On July 1, 2015, the City entered into an agreement to lease building space in the Court Street Transportation Center. The initial term of the lease was for a five-year term with an extension of an two additional five-year terms. The City believes it is more likely than not that the term will be for fifteen years. The monthly rent is $9,077.43. The City recognized $84,701 in lease revenue and $24,223 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $740,374. The City has a deferred inflow of resources associated with this lease of $740,374 that will be recognized as revenue over the lease term. On February 11, 2021, the City entered into an agreement to lease building space in the Court Street Transportation Center. The initial term of the lease was for a three-year term with an extension of up to four additional five-year terms. The City believes it is more likely than not that the term will be for fifteen years. The monthly rent is $3,445. The City recognized $21,586 in lease revenue and $19,754 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $629,611. The City has a deferred inflow of resources associated with this lease of $629,611 that will be recognized as revenue over the lease term. 61.7 On February 21, 2012, the City entered into an agreement to lease building at the East Side Recycling Center. The initial term of the lease was for a ten-year term with an extension of up to three additional five-year terms. The City believes it is more likely than not that the term will be for twenty-five years. The monthly rent is $1,677.58. The City recognized $13,037 in lease revenue and $7,094 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $223,223. The City has a deferred inflow of resources associated with this lease of $223,223 that will be recognized as revenue over the lease term. On February 21, 2012, the City entered into an agreement to lease building at the East Side Recycling Center. The initial term of the lease was for a ten-year term with an extension of up to three additional five-year terms. The City believes it is more likely than not that the term will be for twenty-five years. The monthly rent is $322.50. The City recognized $2,506 in lease revenue and $1,364 in interest revenue during the current fiscal year related to this lease. As of June 30, 2023, the City's receivable for lease payments was $42,913. The City has a deferred inflow of resources associated with this lease of $42,913 that will be recognized as revenue over the lease term. The City has four leases for land use at and around the Airport that were entered into agreement between February 12, 1991 and November 1, 2018. The initial terms of the leases range between five and eighty years with two of the agreements having options to extend between five and ten years. The City believes it is more likely than not that the terms will be between ten and eighty years. The annual rent for all four of these leases is $17,455. The City recognized $10,987 in lease revenue and $6,603 in interest revenue during the current fiscal year related to these leases. As of June 30, 2023, the City's receivable for lease payments was $213,974. The City has a deferred inflow of resources associated with these leases of $213,974 that will be recognized as revenue over the lease terms. The City has eight leases for hangar use at the Airport that were entered into agreement between April 12, 2012 and October 1, 2022. The initial terms of these leases range between one and thirty years with two of the leases having the option to renew up to another ten years. The City believes it is more likely than not that the terms will be between one and thirty years. The monthly rent for these leases total $5,248. The City recognized $49,112 in lease revenue and $13,867 in interest revenue during the current fiscal year related to these leases. As of June 30, 2023, the City's receivable for lease payments was $347,683. The City has a deferred inflow of resources associated with these leases of $347,683 that will be recognized as revenue over the lease terms. 6M 5. Capital Assets Capital asset activity for the year ended June 30, 2023, was as follows: Acquisitions Disposals Beginning and and July 1, 2022 Transfers Transfers Governmental activities: Balance June 30, 2023 Capital assets, not being depreciated: $ 30,317,185 $ 640,000 $ - $ 30,957,185 Land $ 32,875,550 - $ 333,450 $ 32,542,100 Construction in progress 9,468,544 12,520,675 2,184,039 19,805,180 Total capital assets, not being depreciated 42,344,094 12,520,675 2,517,489 52,347,280 Buildings Capital assets, being depreciated: 427,186 - 137,225,718 Improvements other than buildings Buildings 68,200,272 730,842 200,489 68,730,625 Improvements other than buildings 8,183,976 10,000 - 8,193,976 Machinery and equipment 62,884,478 7,134,917 3,300,521 66,718,874 IT subscriptions 1,077,152 - - 1,077,152 Infrastructure 224,955,606 1,613,371 31,000 226,537,977 Total capital assets being depreciated 365,301,484 9,489,131 3,532,010 371,258,605 Less accumulated depreciation/amortization for: Buildings 32,818,224 1,701,252 186,247 34,333,229 Improvements other than buildings 4,830,720 266,582 - 5,097,302 Machinery and equipment 28,951,058 4,920,649 3,095,150 30,776,557 IT Subscriptions 550,934 156,185 - 707,119 Infrastructure 63,136,642 4,591,076 31,000 67,696,718 Total accumulated depreciation/amortization 130,287,578 11,635,745 3,312,397 138,610,925 Total capital assets, being depreciated, net 235,013,906 (2,146,614) 219,613 232,647,679 Governmental activities capital assets, net $ 277,358,000 $ 10,374,061 $ 2,737,102 $ 284,994,959 Business -type activities: Capital assets, not being depreciated Land $ 30,317,185 $ 640,000 $ - $ 30,957,185 Construction in progress 10,079,635 8,520,897 3,547,512 15,053,020 Total capital assets, not being depreciated 40,396,820 9,160,897 3,547,512 46,010,205 Capital assets, being depreciated: 134,629,634 7,575,180 - 142,204,814 Buildings 136,798,532 427,186 - 137,225,718 Improvements other than buildings 11,789,633 9,965 - 11,799,598 Machinery and equipment 43,745,186 13,393 2,298,478 41,460,101 IT subscriptions - 348,686 - 348,686 Infrastructure 348,280,947 4,571,445 - 352,852,392 Total capital assets being depreciated 540,614,298 5,370,675 2,298,478 543,686,495 Less accumulated depreciation/amortization for Buildings 78,110,878 3,144,730 - 81,255,608 Improvements other than buildings 8,456,430 245,629 - 8,702,059 Machinery and equipment 26,310,547 1,710,226 2,065,744 25,955,029 Infrastructure 134,629,634 7,575,180 - 142,204,814 Total accumulated depreciation/amortization 247,507,489 12,675,765 2,065,744 258,117,510 Total capital assets, being depreciated, net 293,106,809 (7,305,090) 232,734 285,568,985 Business -type activities capital assets, net $ 333,503,629 $ 1,855,807 $ 3,780,246 $ 331,579,190 M Depreciation/Amortization expense was charged to functions as follows: $ 53,935,000 $ 9,105,000 $ 10,125,000 Governmental activities: $ 10,075,000 Plus: Unamortized Public safety $ 1,695,936 Public works Premium 5,586,922 Culture and recreation 3,304,091 3,824,753 Community and economic development 56,823,948 64254 General government 10,556,593 463,880 11,840,000 Total depreciation/amortization expense - governmental activities $ 11,635,745 Less: Unamortized Business -type activities: $ - $ 3,943,258 $ 3,701,946 Transit $ 1,252,540 Wastewater treatment - 4,307,705 Water 11,818,760 2,305,577 Sanitation 955,000 801,917 Stounwater 1,474,577 Housing authority 255,046 Nonmajor enterprise 2,278,403 Total depreciation expense - business -type activities $ 12,675,765 6. Long Term Debt Changes in Debt for Bonds Bond debt activity for the year ended June 30, 2023, was as follows: Due Within July 1, 2022 Issues Retirements June 30, 2023 One Year Governmental activities: General obligation bonds $ 53,935,000 $ 9,105,000 $ 10,125,000 $ 52,915,000 $ 10,075,000 Plus: Unamortized Premium 2,888,948 894,133 478,990 3,304,091 481,593 Total general obligation bonds 56,823,948 9,999,133 10,603,990 56219,091 10,556,593 Revenue bonds 11,840,000 - 960,000 10,880,000 955,000 Less: Unamortized $ 7,645,204 $ - $ 3,943,258 $ 3,701,946 $ 1,780,234 Discomts 21240 - 21240 - - Total revenue bonds 11,818,760 - 938,760 10,880,000 955,000 61.1 $ 68,642,708 $ 9,999,133 $ 11,542,750 $ 67,099,091 $ 11,511,593 Business -type activities: Revenue bonds $ 7,465,000 $ - $ 3,840,000 $ 3,625,000 $ 1,745,000 Plus: Uvamortized Premium 180,204 - 103258 76,946 35234 Total revenue bonds $ 7,645,204 $ - $ 3,943,258 $ 3,701,946 $ 1,780,234 61.1 General Obligation Bonds Various issues of general obligation bonds totaling $52,915,000 are outstanding as of June 30, 2023. The bonds have interest rates ranging from 1.80% to 5.00% and mature in varying annual amounts ranging from $340,000 to $1,195,000 per issue, with the final maturities due in the year ending June 30, 2033. Interest and principal payments on all general obligation bonds, except tax abated portions recorded in the enterprise funds, are accounted for through the Debt Service Fund. Annual debt service requirements to maturity for general obligation bonds are as follows: Fiscal Year Ending June 30 2024 2025 2026 2027 2028 2029-2033 Governmental Activities Principal $ 10,075,000 8,545,000 7,775,000 6,825,000 5,780,000 13,915,000 Interest $ 1,829,490 1,483,990 1,186,178 900,803 657,777 1,053,672 Total $ 52,915,000 $ 7,111,910 Revenue Bonds As of June 30, 2023, the following unmatured revenue bond issues are outstanding: Taxable Urban Water Renewal Original issue amount $ 9,560,000 $ 12,805,000 Interest rates 1,325,000 1.5%to5.0% 950,000 3.0% Annual maturities $ 520,000 to $ 725,000 to - $ 1,225,000 $ 955,000 Amount outstanding $ 3,625,000 $ 10,880,000 Revenue bond debt service requirements to maturity are as follows: Fiscal Year Ending Governmental Activities June 30 Principal 2024 2025 2026 2027 2028 2029-2033 2034-2038 Total Interest Business -type Activities Principal Interest $ 955,000 $ 326,400 $ 1,745,000 $ 55,825 950,000 297,750 1,325,000 26,081 950,000 269250 555,000 6244 825,000 240,750 - - 725,000 216,000 3,880,000 744,150 2,595,000 157200 $ 10,880,000 $ 2251,500 $ 3,625,000 $ 88,150 6X7 The revenue bond ordinances required that water revenues and urban renewal tax revenues be set aside into separate and special accounts as they are received. The use and the amounts to be included in the accounts are as follows: Account (a) Revenue Bond and Interest Amount sufficient to pay current bond and interest maturities. Sinking Reserve (b) Revenue Debt Service Reserve Amount required to be deposited in the Revenue Bond and Interest Reserve until the reserve fund equals: Taxable Urban Renewal Revenue bonds — maximum debt service due on the bonds in any succeeding fiscal year. Water Revenue bonds — 10% of the original principal amounts of all related bond issues. (c) Improvement Reserve $5,000 per month until the reserve balance equals or exceeds $450,000 for Water Revenue bonds, with no further deposits once the minimum balance is reached. If the reserve falls below the required minimum, monthly transfers in the aforementioned amounts will resume. In fiscal year ended June 30, 2023, the Water Fund had net revenues of $4,276,000 and the amount of principal and interest due was $1,852,000. 6IU Summary of Bond Issues General obligation and revenue bonds payable at June 30, 2023, are comprised of the following issues: $ 67 420.000 (1) This bond issue is an advance refunding of portions of the September 2006 and May 2007 General Obligation Bonds. (2) Ibis bond issue refunded the October 2008 Water Revenue Bonds. (3) Ibis bond issued refunded the May 2009 Water Revenue Bonds. FYd Date of Amount Interest Final Outstanding Issue Issued Rates Matmtly June 30, 2023 General Obligation Bonds: Refimded Multi -Purpose (1) June 2014 11,980,000 2.0-3.0 6/24 1,030,000 Mulfi-Propose June 2015 7,785,000 2.0-2.25 6/25 1,730,000 Multi -Propose June 2016 8,795,000 2.0-3.0 6/26 3,030,000 Multi -Propose June 2017 9,765,000 2.0-2.5 6/27 4,165,000 Multi -Propose June 2018 8,895,000 1.8-2.65 6/28 4,690,000 Multi -Propose June 2019 12,535,000 2.0-2.25 6/29 5,625,000 Multi -Propose June 2020 12,145,000 2.0-5.0 6/30 5,545,000 Multi -Propose June 2021 11,325,000 2.0-5.0 6/31 9,055,000 Multi -Propose June 2022 10,255,000 3.3-5.0 6/32 8,940,000 Multi -Propose June 2023 9,105,000 3.0-5.0 6/33 9,105,000 Total General 016gation Bonds $ 52,915,000 Date of Amount Interest Final Outstanding Issue Issued Rates Matmtly June 30, 2023 Revenue Bonds: Refimded Water Bonds (2) June 2016 3,650,000 1.5 - 5.0 7/24 1,045,000 Refimded Water Bonds (3) June 2017 5,910,000 2.0-2.25 7/25 2,580,000 Taxable Urban Renewal Sept 2016 12,805,000 3.0 6/36 10,880,000 Total RevenueBOndS $ 14,505,000 $ 67 420.000 (1) This bond issue is an advance refunding of portions of the September 2006 and May 2007 General Obligation Bonds. (2) Ibis bond issue refunded the October 2008 Water Revenue Bonds. (3) Ibis bond issued refunded the May 2009 Water Revenue Bonds. FYd Conduit Debt Obligations From time to time, the City has issued Industrial Development Revenue Bonds and Midwestern Disaster Area Revenue Bonds to provide financial assistance to private sector entities for the acquisition, construction, and renovation of industrial and commercial facilities deemed to be in the public interest. The bonds are collateralized by the property financed and are payable solely from payments received on the underlying mortgage loans. All payments on the bonds are made by the private sector entities directly to a bond trustee, who is a third party financial institution, and in turn, disburses the payment to the respective bond holders. Neither the City, the State, nor any political subdivision thereof is obligated in any manner for repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. The City has not extended any additional commitments beyond the collateral, the payments from the private sector entities on the underlying mortgage loans, and maintenance of the tax- exempt status of the conduit debt obligation were extended by the City for and of the bonds. As of June 30, 2023, there were three series of Industrial Development Revenue Bonds outstanding, with an aggregate principal amount payable of $15,038,882. Debt Legal Compliance Legal Debt Margin: As of June 30, 2023, the general obligation debt issued by the computed as follows (amounts expressed in thousands): Assessed valuation: Real property Utilities Total valuation Debt limit, 5% of total assessed valuation Debt applicable to debt limit: General obligation bonds Urban renewal revenue bonds Notes payable (Note 8) Subscription liabilities (Note 8) Other legal indebtedness (TIF rebates)(Note 11) Total net debt applicable to limit Legal debt margin 7. Pension and Retirement Systems City did not exceed its legal debt limit S 7,113,609 134,787 $ 7.248.396 362,420 52,915 10,880 211 317 31,7 96,107 $ 266.313 The City contributes to two employee retirement systems, the Municipal Fire and Police Retirement System of Iowa (MFPRSI) and the Iowa Public Employees Retirement System (IPERS). MFPRSI is governed by a nine -member Board of Trustees. Though separate and apart from state government, the Board is authorized by the state legislature, which also establishes by statute the pension and disability benefits and the System's funding mechanism. IPERS is administered by the State of Iowa. All full-time employees must participate in either MFPRSI or IPERS. As of June 30, 2023, the City had the following balances related to its pension accounts: Net Pension Liabiilily Deferred Inflows Deferred Outflows Pension Expense IPERS $ 15,814,014 2,144,843 4,348,052 (257,961) MFPRSI Total 18,975,938 $ 34,789,952 1,495,630 3,640,473 4,262,173 8,610,225 1,467,604 1,209,643 For the governmental activities, net pension liability is generally liquidated by the General Fund, Community Development Block Grant Fund and Other Shared Revenue and Grants Fund. Municipal Fire and Police Retirement System of Iowa (MFPRSI) Plan Description MFPRSI membership is mandatory for fire fighters and police officers covered by the provisions of Chapter 411 of the Code of Iowa. Employees of the City are provided with pensions through a cost-sharing multiple employer defined benefit pension plan administered by MFPRSL MFPRSI issues a stand-alone financial report which is available to the public by mail at 7155 Lake Drive, Suite 9201, West Des Moines, Iowa 50266 or at www.mfprsi.org. MFPRSI benefits are established under Chapter 411 of the Code of Iowa and the administrative rules thereunder. Chapter 411 of the Code of Iowa and the administrative rules are the official plan documents. The following brief description is provided for general informational purposes only. Refer to the plan documents for more information. Pension Benefits Members with 4 or more years of service are entitled to pension benefits beginning at age 55. Full service retirement benefits are granted to members with 22 years of service, while partial benefits are available to those members with 4 to 22 years of service based on the ratio of years completed to years required (i.e., 22 years). Members with less than 4 years of service are entitled to a refund of their contribution only, with interest, for the period of employment. Benefits are calculated based upon the member's highest 3 years of compensation. The average of these 3 years becomes the member's average final compensation. The base benefit is 66 percent of the member's average final compensation. Additional benefits are available to members who perform more than 22 years of service (2 percent for each additional year of service, up to a maximum of 8 years). Survivor benefits are available to the beneficiary of a retired member according to the provisions of the benefit option chosen plus an additional benefit for each child. Survivor benefits are subject to a minimum benefit for those members who chose the basic benefit with a 50 percent surviving spouse benefit. Active members, at least 55 years of age, with 22 or more years of service have the option to participate in the Deferred Retirement Option Program (DROP). The DROP is an arrangement whereby a member who is otherwise eligible to retire and commence benefits opts to continue to work A member can elect a 3, 4, or 5 year DROP period. By electing to participate in DROP the member is signing a contract indicating the member will retire at the end of the selected DROP period. During the DROP period the member's retirement benefit is frozen and a DROP benefit is credited to a DROP account established for the member. Assuming the member completes the DROP period, the DROP benefit is equal to 52% of the member's retirement benefit at the member's earliest date eligible and 100% if the member delays enrollment for 24 months. At the member's actual date of retirement, the member's DROP account will be distributed to the member in the form of a lump sum or rollover to an eligible plan. Disability and Death Benefits Disability coverage is broken down into two types, accidental and ordinary. Accidental disability is defined as permanent disability incurred in the line of duty, with benefits equivalent to the greater of 60 percent of the member's average final compensation or the member's service retirement benefit calculation amount. Ordinary disability occurs outside the call of duty and pays benefits equivalent to the greater of 50 percent of the member's average final compensation, for those with 5 or more years of service, or the member's service retirement benefit calculation amount, and 25 percent of average final compensation for those with less than 5 years of service. Death benefits are similar to disability benefits. Benefits for accidental death are 50 percent of the average final compensation of the member plus an additional amount for each child, or the provisions for ordinary death. Ordinary death benefits consist of a pension equal to 40 percent of the average final compensation of the member plus an additional amount for each child, or a lump -sum distribution to the designated M] beneficiary equal to 50 percent of the previous year's earnable compensation of the member or equal to the amount of the member's total contributions plus interest. Benefits are increased annually in accordance with Chapter 411.6 of the Code of Iowa which states a standard formula for the increases. The surviving spouse or dependents of an active member who dies due to a traumatic personal injury incurred in the line of duty receives a $100,000 lump -sum payment. Contributions Member contribution rates are set by state statute. In accordance with Chapter 411 of the Code of Iowa, the contribution rate was 9.40% of earnable compensation for the year ended June 30, 2023. Employer contribution rates are based upon an actuarially determined normal contribution rate and set by state statute. The required actuarially determined contributions are calculated on the basis of the entry age normal method as adopted by the Board of Trustees as permitted under Chapter 411 of the Code of Iowa. The normal contribution rate is provided by state statute to be the actuarial liabilities of the plan less current plan assets, with such total divided by 1 percent of the actuarially determined present value of prospective fixture compensation of all members, fixrther reduced by member contributions and state appropriations. Under the Code of Iowa the employer's contribution rate cannot be less than 17.00% of eamable compensation. The contribution rate was 23.90% for the year ended June 30, 2023. The City's contributions to MFPRSI for the year ended June 30, 2023, was $3,009,101. If approved by the state legislature, state appropriation may further reduce the employer's contribution rate, but not below the minimum statutory contribution rate of 17.00% of earnable compensation. The State of Iowa therefore is considered to be a nonemployer contributing entity in accordance with the provisions of the Governmental Accounting Standards Board Statement No. 67 —Financial Reporting for Pension Plans, (GASB 67). There were no state appropriations to MFPRSI during the fiscal year ended June 30, 2023 At June 30, 2023, the City reported a liability of $18,975,938 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2022, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all MFPRSI participating employers. At June 30, 2022, the City's proportion was 3.379084% which was a decrease of 0.150136% from its proportions measured as of June 30, 2021. 6L! For the year ended June 30, 2023, the City recognized pension expense of $1,467,604. At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences between expected and actual experience Change of assumptions Net difference between projected and actual earnings on pension plan investments Changes in proportion and differences between City contributions and proportionate share of contributions City contributions subsequent to the measurement date Total Deferred Outflows of Deferred Inflows of Resources Resources $ 1,178,362 $ 53,230 21,480 3,009,101 24,400 224,832 1,246,398 $ 4,262,173 $ 1,495,630 $3,009,101 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year Ended Total June 30, 2024 $ (263,691) June 30, 2025 (721,937) June 30, 2026 (1,638,438) June 30, 2027 2,388,612 June 30, 2028 (7,104) $ (242,558) Actuarial Assumptions The total pension liability in the June 30, 2022, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Rate of inflation Salary increases Investment rate of return 3.00 percent per annum 3.75 to 15.11 percent, including inflation 7.50 percent, net of pension plan investment expense, including inflation Mi The actuarial assumptions used in the June 30, 2022 valuation were based on the results of an actuarial experience study for the period from July 1, 2010 to June 30, 2020. Postretirement mortality rates were based on the RP -2014 Blue Collar Combined Healthy Annuitant Table with males set -forward zero years, females set -forward two years and disabled individuals set -forward three years (male only rates), with generational projection of future mortality improvement with 50 percent of Scale BB beginning in 2017. The long-term expected rate of return on pension plan investments was determined using a building-block method in which best -estimate ranges of expected future real rates (i.e., expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The best estimates of geometric real rates of return for each major asset class are summarized in the following table: Long -Term Expected Asset Class Real Rate of Return Broad Fixed Income 3.5 % Emerging Markets 7.2 Broad U.S. Equity 6.7 Managed Futures 5.1 Global Infrastructure 6.8 Global Equity 6.8 Private Credit 8.6 Private Equity 12.0 Opportunistic Real Estate 11.0 Real Estate -Core 6.4 Broad non -US Equity 7.0 Discount Rate The discount rate used to measure the total pension liability was 7.5%. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and the City contributions will be made at rates equal to the difference between actuarially determined rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivitv of Citv's Proportionate Share of the Net Pension Liabilitv to Changes in the Discount Rate The following presents the City's proportionate share of the net pension liability calculated using the discount rate of 7.5%, as well as what the city's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1% lower (6.5%) or 1% higher (8.5%) than the current rate. 1% Decrease Discount Rate 1% Increase (6.5%) (7.5%) (8.5%) City's proportionate share of the net pension liability: $ 34,342,911 $ 18,975,938 $ 6,244,192 ria Pension Plan Fiduciary Net Position Detailed information about the pension plan's fiduciary net position is available in the separately issued MFPRSI financial report which is available on MFPRSI's website at www.mfprsi.org. Payables to the Pension Plan At June 30, 2023, there were no amounts due to MFPRSI. Iowa Public Employees Retirement System (IPERS) Plan Description IPERS membership is mandatory for employees of the City, except for those covered by another retirement system. Employees of the City are provided with pensions through a cost-sharing multiple employer defined benefit pension plan administered by IPERS. IPERS issues a stand-alone financial report which is available to the public by mail at 7401 Register Drive P.O. Box 9117, Des Moines, Iowa 50306-9117 or at www.ipers.org. IPERS benefits are established under Iowa Code chapter 97B and the administrative rules thereunder. Chapter 97B and the administrative rules are the official plan documents. The following brief description is provided for general informational purposes only. Refer to the plan documents for more information. Pension Benefits A regular member may retire at normal retirement age and receive monthly benefits without an early- retirement reduction. Normal retirement age is age 65, any time after reaching age 62 with 20 or more years of covered employment, or when the member's years of service plus the member's age at the last birthday equals or exceeds 88, whichever comes first. These qualifications must be met on the member's first month of entitlement to benefits. Members cannot begin receiving retirement benefits before age 55. The formula used to calculate a Regular member's monthly IPERS benefit includes: • A multiplier based on years of service. • The member's highest five-year average salary. For members with service before June 30, 2012, the highest three-year average salary as of that date will be used if it is greater than the highest five- year average salary. If a member retires before normal retirement age, the member's monthly retirement benefit will be permanently reduced by an early-retirement reduction. The early-retirement reduction is calculated differently for service earned before and after July 1, 2012. For service earned before July 1, 2012, the reduction is 0.25 percent for each month that the member receives benefits before the member's earliest normal retirement age. For service earned starting July 1, 2012, the reduction is 0.50 percent for each month that the member receives benefits before age 65. Generally, once a member selects a benefit option, a monthly benefit is calculated and remains the same for the rest of the member's lifetime. However, to combat the effects of inflation, retirees who began receiving benefits prior to July 1990 receive a guaranteed dividend with their regular November benefit payments. Disability and Death Benefits A vested member who is awarded federal Social Security disability or Railroad Retirement disability benefits is eligible to claim IPERS benefits regardless of age. Disability benefits are not reduced for early retirement. If a member dies before retirement, the member's beneficiary will receive a lifetime annuity or a lump -sum payment equal to the present actuarial value of the member's accrued benefit or calculated with a set formula, whichever is greater. When a member dies after retirement, death benefits depend on the benefit option the member selected at retirement. MA Contributions Contribution rates are established by IPERS following the annual actuarial valuation, which applies IPERS' Contribution Rate Funding Policy and Actuarial Amortization Method. Statute limits the amount rates can increase or decrease each year to 1 percentage point. IPERS Contribution Rate Funding Policy requires that the actuarial contribution rate be determined using the "entry age normal" actuarial cost method and the actuarial assumptions and methods approved by the IPERS Investment Board. The actuarial contribution rate covers normal cost plus the unfunded actuarial liability payment based on a 30 -year amortization period. The payment to amortize the unfimded actuarial liability is determined as a level percentage of payroll, based on the Actuarial Amortization Method adopted by the Investment Board. In fiscal year 2023, pursuant to the required rate, Regular members contributed 6.29% of pay and the City contributed 9.44% for a total rate of 15.73%. The City's total contributions to IPERS for the year ended June 30, 2023 were $3,492,754 At June 30, 2023, the City reported a liability of $15,814,014 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2022, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City's proportion of the net pension liability was based on the City's share of contributions to the pension plan relative to the contributions of all IPERS participating employers. At June 30, 2022, the City's proportion was 0.418565% which was an increase of 0.579059% from its proportions measured as of June 30, 2021. For the year ended June 30, 2023, the City recognized pension income of $257,961. At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences between expected and actual experience Change of assumptions Net difference between projected and actual earnings on pension plan investments Changes in proportion and differences between City contributions and proportionate share of contributions City contributions subsequent to the measurement date Total ril Deferred Outflows of Deferred Inflows of Resources Resources 701,033 $ 216,617 13,418 377 K.U. Y f 140,847 235,009 3,492,754 $ 4,348,052 $ 2,144,843 $3,492,754 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year Ended Total June 30, 2024 $ (1,550,589) June 30, 2025 (1,194,876) June 30, 2026 (2,075,813) June 30, 2027 3,486,193 June 30, 2028 45,540 $ (1289,545) There were no non -employer contributing entities to IPERS. Actuarial Assumptions The total pension liability in the June 30, 2022, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Rate of inflation 2.60% per annum (effective June 30, 2017) Salary increases 3.25 to 16.25%, average, including inflation. Rates vary by (effective June 30, 2017) membership group. Investment rate of return 7.00% compounded annually, net of pension plan investment (effective June 30, 2017) expense, including inflation Wage growth 3.25% per annum based on 2.60% inflation and 0.65% (effective June 30, 2017) real wage inflation The actuarial assumptions used in the June 30, 2022, valuation was based on the results of a quadrennial experience study covering the period July 1, 2017 through June 30, 2021. Mortality rates were based on the PubG-2010 Mortality tables with fixture mortality improvements modeled using MP -2021 generational adjustments. M The long-term expected rate of return on pension plan investments was determined using a building-block method in which best -estimate ranges of expected fixture real rates (i.e., expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Asset Class Core Plus Fixed Income Domestic Equity International Equity Private Equity Private Real Assets Global Smart Beta Equity Public Credit Private Credit Cash Target Allocation 20.0 % 22.0 17.5 13.0 8.5 6.0 4.0 8.0 1.0 Total 100.0 % Long -Term Expected Real Rate of Return 1.66 % 3.57 4.79 7.57 3.55 4.16 3.77 3.63 0.77 Discount Rate The discount rate used to measure the total pension liability was 7.0%. The projection of cash flows used to determine the discount rate assumed employee contributions will be made at the contractually required rate and that the contributions from the City will be made at contractually required rates, actuarially determined. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected fixture benefit payments to current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. The following presents the City's proportionate share of the net pension liability calculated using the discount rate of 7.0%, as well as what the city's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1% lower (6.0%) or 1% higher (8.0%) than the current rate. 1% Decrease Discount Rate 1% Increase (6.0%) (7.0%) (8.0%) City's proportionate share of the net pension liability: $ 29,463,410 $ 15,814,014 $ 3,785,145 Pension Plan Fiduciary Net Position Detailed information about the pension plan's fiduciary net position is available in the separately issued IPERS financial report which is available on IPERS' website at www.ipers.org. Payables to the Pension Plan At June 30, 2023, there were no amounts due to IPERS. rm 8. Other Long-term Liabilities Changes in Long -Term Liabilities - Notes Payable Note Payable activity for the year ended June 30, 2023, was as follows: July 1, 2022 Issues Governmental activities: $ 210,784 $ Retirements Due W thin June 30, 2023 One Year $ 210,784 $ A note payable was issued to Greater Iowa City Housing Fellowship for the purchase of an 11 unit apartment building for low income and disabled housing in the Peninsula Neighborhood. The terms of the loan are 1°/q interest only payments for twenty years with a final balloon payment of $210,784 due on August 1, 2025. Changes in Long -Term Liabilities - Employee Vested Benefits Employee Vested Benefits activity for the year ended June 30, 2023, was as follows: Due Withm July 1, 2022 Issues Retirements June 30, 2023 One Year Governmental activities: $ 2,587,124 $ 1,501930 $ 1,460,085 $ 2,628,969 $ 1,483,149 Business -type activities: $ 834,602 $ 474,480 $ 489,507 $ 819,575 $ 480,795 For the governmental activities, employee vested benefits are generally liquidated by the General Fund, Community Development Block Grant Fund and Other Shared Revenue and Grants Fund. Changes in Long -Term Liabilities - Subscription Based Information Technology Liability Subscription liability activity for the year ended June 30, 2023, was as follows: Due Within July 1, 2022 Issues Retirements June 30, 2023 One Year Governmental activities: $ 443,158 $ - $ 126,395 $ 316,763 $ 134,586 The City has entered into various subscription -based information technology agreements for software programs. The agreements require annual payments varying from $5,000 to $65,000 over 3 to 12 years with an interest rate of 2.99% and final payments due January 2027. During the year ended June 30, 2023, principal and interest paid were $126,395 and $13,098 respectively. Future principal and interest payments as of June 30, 2023, are as follows: Fiscal Year Ending June 30 Governmental Activities Principal Interest 2024 $ 134,586 $ 9,288 2025 128,505 5,250 2026 38,633 1,394 2027 15,039 450 Total $ 316,763 $ 16382 71 Changes in Long -Term Liabilities - Landfill Closure Post -closure Care Costs Landfill Closure Post -closure care activity for the year ended June 30, 2023, was as fellows: Due Within July 1, 2022 Issues Retirements June 30, 2023 One Year Business -type activities: $ 12,226988 $ 751,268 $ - $ 12,978256 $ - In August 1993, the GASB issued Statement No. 18, Accounting for Municipal Solid Waste Landfill Closure and Past closure Care Costs (the Statement). Under these rules, in addition to operating expenses related to current activities of the landfill, an expense provision and related liability are being recognized based on the future closure and post -closure care costs that will be incurred near or after the date the landfill no longer accepts waste. The recognition of these landfill closure and post -closure care costs is based on the amount of the landfill used during the year. The estimated liability for landfill closure and post -closure care costs as of June 30, 2023, is $12,978,256, which is based on 58.3% usage (filled) of the landfill and is included in accrued liabilities within the Sanitation Fund. It is estimated that an additional amount of approximately $9,282,905 will be recognized as closure and post -closure care expenses between the date of the balance sheet and the date the landfill is expected to be filled to capacity by the year ended June 30, 2039. The estimated total current cost of the landfill closure and post -closure care costs at June 30, 2023, was determined by a licensed professional engineer and approximated at $22,261,161. It is based on the amount that would be paid if all equipment, facilities, and services required to close, monitor, and maintain the landfill were acquired as of June 30, 2023. These amounts are based on an estimated post -closure care and monitoring period of 30 years, consistent with current State Department of Natural Resources regulations. However, the actual cost of closure and post -closure care may be higher due to inflation, changes in technology, or changes in landfill laws and regulations. The City is required by federal and state laws and regulations to provide some form of financial assurance to finance closure and post -closure care. The City will meet its financial assurance obligations through the issuance of general obligation bonds. As of June 30, 2023, the Sanitation Fund had $15,402,392 in related equity in pooled cash and investments, at fair value designated for satisfaction of closure and post -closure costs. The City estimates that these cash reserves will only provide a fraction of the dollars needed to close and monitor the landfill. The remaining portion of post -closure care costs, anticipated future inflation costs and additional costs that might arise from changes in post -closure requirements (due to changes in technology or more rigorous environmental regulations, for example) may need to be covered by charges to future landfill users as well as City taxpayers. Changes in Long -Term Liabilities — Other Postemployment Benefits (OPEB) Plan Description: The City operates a single -employer self-funded medical and dental plan for all employees, which is offered to current and retired employees and their dependents. Group insurance benefits are established under Iowa Code Chapter 509A.13. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. All full-time employees who retire or terminate/resign and their eligible dependents are offered the following post -employment benefit options: Health insurance and dental insurance — The option of continuing with the City's health insurance plan at the individual's expense. These benefits cease upon Medicare eligibility. Life insurance — The option of converting the employee's City -paid policy to an individual policy at the individual's expense with the City's life insurance carrier. WA Long-term disability — For employees who terminate/resign and have been on the plan for a minimum of one year, the option of converting the employee's City -paid group policy to a personal policy at the individual's expense with the City's long-term disability insurance carrier. The above options, while at the individual's own expense, are included within the City's overall insurance package, which results in an implicit rate subsidy and an OPEB liability. Retired participants must be age 55 or older at retirement. At June 30, 2023, the following employees were covered by the benefit terms: Inactive employees or beneficiaries currently receiving benefit payments 54 Active employees 586 Total 640 Total OPEB Liability: The City's total OPEB liability of $8,730,093 was measured as of June 30, 2023 and was determined by an actuarial valuation as of that date. Actuarial Assumptions: The total OPEB liability in the June 30, 2023 actuarial valuation was determined using the following actuarial assumptions and the entry age normal actuarial cost method, applied to all periods included in the measurement. Rate of inflation 2.60% per annum (effective June 30, 2023) Rates of salary increases 3.25% per annum based on 2.60% inflation and 0.65% (effective June 30, 2023) real wage inflation Discount rate 4.13%, compounded annually, including inflation (effective June 30, 2023) Healthcare cost trend rate 7.00% initial rate decreasing by .5% annually to an ultimate (effective June 30, 2023) rate of 4.50% Discount Rate: The discount rate used to measure the total OPEB liability was 4.13% which reflects the index rate for 20 -year tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher as of the measurement date. Mortality rates for general participants are from the SOA Pub -2010 General Headcount Weighted Mortality Table fully generational using Scale MP -2021. Mortality rates for public safety participants are from the SOA Pub -2010 Public Safety Headcount Weighted Mortality Table fully generational using Scale MP - 2021. Mortality rates for surviving spouses are from the SOA Pub -2010 Continuing Survivor Headcount Weighted Mortality Table fully generational using Scale MP -2021. Annual retirement probabilities are based on varying rates by age and turnover probabilities mirror those used by IPERS and MFPRSI. VA] The actuarial assumptions used in the June 30, 2023 valuation were based on the results of an actuarial experience study with dates corresponding to those listed above. Changes of assumptions reflect a change in the discount rate from 4.09% in fiscal year 2022 to 4.13% in fiscal year 2023. Sensitivity of the City's Total OPEB Liabifity to Changes in the Discount Rate: The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using a discount rate that is 1% lower (3.13%) or 1% higher (5.13%) than the current discount rate. 1% Decrease Discount Rate 1% Increase (3.13%) (4.13%) (5.13%) Total OPEB liability $ 9,356,967 $ 8,730,093 $ 8,136,987 Sensitivity of the City's Total OPEB Liability to Changes in the Healthcare Cost Trend Rate: The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using healthcare cost trend rate that is 1% lower (6.00%) or 1% higher (8.00%) than the current healthcare cost trend rate. 1% Decrease Healthcare Cost 1% Increase (6.0%) Trend Rate (7.0%) (8.00%) Total OPEB liability $ 7,735,554 $ 74 8,730,093 $ 9,905,232 Total OPEB Liability Total OPEB liability beginning of year $ 8,123,615 Changes for the year: Service Cost 617,419 Interest 353,028 Difference between expected and actual experience (118,211) Changes in assumptions (24,446) Benefit payments (221,312) Net changes 606,478 Total OPEB liability end of year $ 8,730,093 Changes of assumptions reflect a change in the discount rate from 4.09% in fiscal year 2022 to 4.13% in fiscal year 2023. Sensitivity of the City's Total OPEB Liabifity to Changes in the Discount Rate: The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using a discount rate that is 1% lower (3.13%) or 1% higher (5.13%) than the current discount rate. 1% Decrease Discount Rate 1% Increase (3.13%) (4.13%) (5.13%) Total OPEB liability $ 9,356,967 $ 8,730,093 $ 8,136,987 Sensitivity of the City's Total OPEB Liability to Changes in the Healthcare Cost Trend Rate: The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using healthcare cost trend rate that is 1% lower (6.00%) or 1% higher (8.00%) than the current healthcare cost trend rate. 1% Decrease Healthcare Cost 1% Increase (6.0%) Trend Rate (7.0%) (8.00%) Total OPEB liability $ 7,735,554 $ 74 8,730,093 $ 9,905,232 OPEB Expense, Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB: For the year ended June 30, 2023, the City recognized OPEB expense of $957,004. At June 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following resources: Deferred Outflows Deferred Inflows of Resources of Resources Differences between expected and actual experience $ 901,764 $ (750,746) Change of assumptions 719215 (1,625200) Total $ 1,620,979 $ (2,375,946) The amount reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as OPEB expense as follows: Year Ended Total June 30, 2024 $ (13,443) June 30, 2025 (13,443) June 30, 2026 (13,443) June 30, 2027 (13,438) June 30, 2028 (73,991) Thereafter (627,209) $ (754,967) For the governmental activities, OPEB liability is generally liquidated by the General Fund, Community Development Block Grant Fund and Other Shared Revenue and Grants Fund 9. Fund Equity Fund balances for the governmental funds are reported in classifications that comprise a hierarchy based on the extent to which the government honors constraints on the specific purposes for which amounts in those funds can be spent. • The Nonspendable classification contains amounts not in spendable form or legally or contractually required to be maintained intact. • Restricted amounts contain restraint on their use externally imposed by creditors, grantors, contributors, or laws or regulations of other governments; or imposed by law through constitutional provisions or enabling legislation. Committed amounts can only be used for specific purposes imposed by formal action of the government's highest level of decision-making authority. The highest level of decision-making authority is the City Council and it takes a resolution to establish, modify or rescind a fund balance commitment. Mi Amounts intended to be used for specific purposes are Assigned. Assignments should not cause deficits in the Unassigned fixed balance. The Finance Director has been delegated authority by the City Council through a resolution to assign amounts to be used for specific purposes. Unassigned fund balance is the residual classification for the General Fund. The General Fund is the only fund that would report a positive amount in unassigned fund balance. Residual deficit amounts of other governmental fixnds would also be reported as unassigned. The City would use Restricted fund balances first, followed by Committed resources, and then Assigned resources, as appropriate opportunities arise, but reserves the right to selectively spend Unassigned resources first to defer the use of these other classified funds. Con4mm sof Fund Balance PnbhcS ty 414,586 - - - - - - B ge. DebtSavice - - - - - 0,425922 - aha Street and - - - 1392].615 153408 - - 29289,690 Shared TsW Ckha - - 6,100699 C®tAg—t Rev®ueasd Fmploy- Ckha Control Debt Cnanmental 3389388 RsuMtsnearestS Gaal Casts B®des Constmction Censhoction Service Funds Total Nonsp®,able - - - - - 433,583 433,583 Notes Becmn ble 1281921 Pery gQuePrincipal $ 69p00 $ - S - $ - $ - $ - $ - $ 69" ] entory - 268,62(1 - - - - - 268,620 Property H Ofor Resale 2051,8052051,805 - - - - - 3,439791 Total Nonsp®dable 2,126,805 268,6'X1 7425922 435976 63538,8)4 2395425 Resnictedfor PnbhcS ty 414,586 - - - - - - 414,586 DebtSavice - - - - - 0,425922 - 0,425922 wBondProms - - - 1392].615 153408 - - 29289,690 State Funding - 6,100699 - - - - - 6,100699 C®tAg—t - - - - - - 3389388 3389388 Affmdeble Housing - 0399710 - - - - - 0399710 E2onomicD-dop. - - - - - - 433,583 433,583 Notes Becmn ble 1281921 - - - - - - 1281921 Public S ty Funployee B ndi. - - 4281518 - - - - 4281518 Ch -R sM 6092()6 2.295.791 5367W 3,439791 ToWResM 2309716 15,86200 428)598 13921.615 1534015 7425922 435976 63538,8)4 Assigned[.: ❑bury R.gams 1341361 - - - - - - 1341361 Repluc®®tend Acquisnios Reserves 18284155 - - - - - - 18284155 Cha Assigned 844 844 ToWAssigned 19622366 - - - - - - 19622366 Dnassigne 3)9WA02 (251016) 3)725,986 ToWn.dBalances $ 4,035,889 $ 16.14.8) $ 428)5)8 $ 1392].615 $ 1534045 $ 4425922 $ 4,108752 $ 123282651 The nomnajor governmental fixed, Economic Development Fund, has a deficit unassigned fund balance of $251,016. The deficit will be resolved with fixture property taxes. 10. Risk Management The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; workplace accidents, errors and omissions; and natural disasters. During fiscal year 1988 the City established the Loss Reserve Fund, an internal service fund, to account for and finance its uninsured risks of loss. During the year ended June 30, 2022 the City purchased property, liability, and workers' compensation insurance under the program that provides for a $100,000 self-insured retention per occurrence on property losses, a $500,000 self-insured retention per occurrence on liability, and a zero self- insured retention on workers' compensation losses for all employees except Fire Department employees. Workers compensation losses for Fire Department employees are fully self-funded. The liability insurance provides coverage for claims in excess of the aforementioned self-insured retention up to a maximum of $21,000,000 annual aggregate of losses paid. Settled claims have not exceeded this commercial coverage in any of the past three fiscal years. The operating funds pay annual premiums to the Loss Reserve Fund. Accumulated monies in the Loss Reserve Fund are available to cover the self-insured retention amounts and any uninsured losses. rcy The Housing Authority Fund is insured under a separate policy with the Assisted Housing Risk Management Association. The remaining funds participate in the Loss Reserve Fund. The funds make payments to the Loss Reserve Fund based on actuarial estimates of the amounts needed to pay prior- and current -year claims and to establish a reserve for catastrophic losses. The Fund's accrued liabilities balance includes a claims liability at June 30, 2023 based on the requirements of GASB Statement No. 10, as amended, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Changes in the Loss Reserve Fund's claims liability amount for property, liability, and workers' compensation for the years ended June 30, 2023 and 2022 are as follows: Current -Year Beginning -of- Claims and Balance at Fiscal -Year Changes in Claim Fiscal Liability Estimates Payments Year -End 2021-2022 $ 3,273,000 $ (455,000) $ 76,000 $ 2,741,000 2022-2023 2,741,000 255,000 553,000 2,443,000 Also, the City is partially self-insured, through stop -loss insurance, for employee health care coverage, which is available to all of its permanent employees. This insurance provides stop -loss coverage for claims in excess of $125,000 per employee with an aggregate stop -loss of $15,176,400. The operating funds are charged premiums by the Loss Reserve Fund. The City reimburses a health insurance provider for actual medical costs incurred, plus a claims processing\administrative fee. Changes in the Loss Reserve Fund's claims liability amount for health care coverage for the years ended June 30, 2023 and 2022 are as follows: Current -Year Beginning -of- Claims and Balance at Fiscal -Year Changes in Claim Fiscal Liability Estimates Payments Year -End 2021-2022 $ 458,000 $ 9,438,000 $ 9,313,000 $ 583,000 2022-2023 583,000 10,532,000 10,490,000 625,000 ra 11. Commitments and Contingencies Contractual Commitments The total outstanding contractual commitments as of June 30, 2023 are as follows: Fund Project Amount Bridge, street and traffic Paving and Bridge Construction, control construction Engineering Design and Consulting $ 12,907,855 Other construction Public Works & Culture and Recreation Construction 3,604,964 Parking Parking Facility Restoration Repair 673,019 Wastewater Sewer Construction & Influent Rake Replacement 2,437,127 Water Water Construction & Peninsula Well Field Power Redundancy Project 412,190 Transit Transit Bus Sign Replacements/Transit Amenities 218,119 Airport Runway Obstruction Mitigation & Runway Relocation 212,087 Lanfdl Facility Replacement and Landfill Cas Landfill Infrastructure 2,846,517 Stormwater Stormwater System Improvements & Storm Sewer 1,787,447 Replacements $ 25,099,325 Developer Commitments In order to encourage development within designated TIF districts, the City Council has approved developer grants to 8 different projects. The grants are to be paid only after certain conditions have been met by each project developer, and are to be paid over many years in the form of a rebate of a predetermined percentage of fixture property taxes generated by the property. Currently, it is estimated that outstanding commitments totaling $31,784,289 exist, of which $2,032,821 is expected to be paid in the next fiscal year. These items are expensed in the period in which they are paid. There were payments made in the current fiscal year in the amount of $1,980,692. No liability is recognized due to the fact that the agreements are conditional and the payments are to be fimded by fixture property taxes receivable on the project. na 12. Contingent Liabilities Litigation The City is a defendant in a number of lawsuits arising principally from claims against the City for alleged improper actions by City employees, with such lawsuits typically involving claims of improper police action, unlawful taking of property by zoning, negligence, appeals of condemnations, and discrimination. Total damages claimed are substantial; however, it has been the City's experience that such actions are settled for amounts substantially less than claimed amounts. The City's management estimates that the potential claims against the City, not covered by various insurance policies, would not materially affect the financial condition of the City. The City has the authority to levy additional taxes (outside the regular limit) to cover uninsured judgments against the City. 13. Tax Abatements Governmental Accounting Standards Board Statement No. 77 defines tax abatements as a reduction in tax revenues that results from an agreement between one or more governments and an individual or entity in which (a) one or more governments promise to forgo tax revenues to which they are otherwise entitled and (b) the individual or entity promises to take a speck action after the agreement has been entered into that contributes to economic development or otherwise benefits the governments or the citizens of those governments. City Tax Abatements The City provides tax abatements for urban renewal and economic development projects with tax increment financing as provided for in Chapters 15A and 403 of the Code of Iowa. For these types of projects, the City enters into agreements with developers which require the City, after developers meet the terms of the agreements, to rebate a portion of the property tax paid by the developers, to pay the developers an economic development grant or to pay the developers a predetermined dollar amount. No other commitments were made by the City as part of these agreements. For the year ended June 30, 2023, $815,160.37 of property tax was diverted from the City under the urban renewal and economic development projects. Tax Abatements of Other Entities Property tax revenues of the City were not reduced by any amount for the year ended June 30, 2023 under agreements entered into by any entities. 14. Accounting Change/Restatement Governmental Accounting Standards Board Statement No. 96, Subscription -Based Information Technology Agreements (SBITA), was implemented during fiscal year 2023. The new requirements require the reporting of certain right -to -use subscription -based IT arrangements and liabilities which were previously not reported. The beginning net position of governmental activities was restated as follows: Net posdion June 30, 2022, Subscription asset Subscription accumulated Subscription Gabidy Net pas tm Juty 1, 2022, as pre,iousty reported at June 30, 2022 amortization at June 30, 2022 at June 30, 2022 as restated Governmontat $ 274,658 $ 469 $ (154) $ (272) $ 274,701 Intemat Service 32,032 608 (397) (171) 32,072 Total Govemmontat $ 306,690 $ 1,077 $ (551) $ (443) $ 306,773 MW 15. New Governmental Accounting Standards Board (GASB) Standards The City adopted the following statements during the year ended June 30, 2023 Governmental Accounting Standards Board Statement No. 91, Conduit Debt Obligations. This Statement clarifies the existing definition of a conduit debt obligation; establishing that a conduit debt obligation is not a liability of the issuer; establishing standards for accounting and financial reporting of additional commitments and voluntary commitments extended by issuers and arrangements association with conduit debt obligations; and improving required note disclosures. This Statement requires issuers to disclose general information about their conduit debt obligations organized by type of commitment, including the aggregate outstanding principal amount of the issuers' conduit debt obligations and a description of each type of commitment. Issuers that recognize liabilities related to supporting the debt service of conduit debt obligations also should disclose information about the amount recognized and how the liabilities changed during the reporting period. Governmental Accounting Standards Board Statement No. 94, Public -Private and Public -Public Partnerships and Availability Payment Arrangements. The primary objective of this Statement is to improve financial reporting by addressing issues related to public-private and public -public partnership arrangements (PPPs). Governmental Accounting Standards Board Statement No. 96, Subscription -Based Information Technology Arrangements. This Statement provides guidance on the accounting and financial reporting for subscription -based information technology arrangements (SBITAs) for government end users (governments). This Statement 1) defines a SBITA; 2) establishes that a SBITA results in a right -to -use subscription asset — an intangible asset — and a corresponding subscription liability; 3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and 4) requires note disclosures regarding a SBITA. Governmental Accounting Standards Board Statement No. 99, Omnibus 2022. The objectives of this Statement are to enhance comparability in accounting and financial reporting and to improve the consistency of authoritative literature by addressing (1) practice issues that have been identified during implementation and application of certain GASB Statements and (2) accounting and financial reporting for financial guarantees. Other than the restatement for the implementation of GASB Statement No. 96 disclosed in Note 14, the implementation of the above statements did not have a material impact on the City's Financial Statements. The Governmental Accounting Standards Board (GASB) has issued two statements not yet implemented by the City. The statements, which might impact the City's financial statements, are as follows: Statement No. 100, Accounting Changes and Error Corrections — an Amendment of GASB Statement No. 62, will be effective for fiscal year ending June 30, 2024. The primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. Statement No. 101, Compensated Absences, will be effective for fiscal year ending June 30, 2025. The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unwed model and by amending certain previously required disclosures. The City's management has not yet determined the effect these statements will have on the City's financial statements. City of Iowa City, Iowa Budgetary Comparison Schedule Budget and Actual - All Governmental Funds and Enterprise Funds Budgetary Basis Required Supplementary Information For the Year Ended June 30, 2023 (dollar amounts expressed in thousands) Governmental Fund Types Enterprise Fund Actual Budgetary Types Actual Total Actual Basis Budgetary Basis Budgetary Basis Revenues: Public safety Property taxes $ 66,682 $ - $ 66,682 Delinquent property taxes 3 - 3 Tax increment financing taxes 4,086 - 4,086 Other city taxes 3,839 - 3,839 Special assessments - - - Licanses and permits 2,854 - 2,854 Intergovernmental 23,404 17,541 40,945 Charges for services 6,770 43,570 50,340 Use of money and property 3,878 3,622 7,500 Miscellaneous 3,874 656 4,530 Total revenues 115,390 65,389 180,779 Expenditures/Expenses: Public safety 29,378 - 29,378 Public works 10,357 - 10,357 Health and social services 680 - 680 Culture and recreation 16,378 - 16,378 Community and economic development 14,341 - 14,341 General government 11,303 - 11,303 Debt service 13,166 - 13,166 Capital outlay 22,950 - 22,950 Business -type - 67,112 67,112 Total expenditures/expenws 118,553 67,112 185,665 Excess (deficiency) of revenues over (under) expenditures/expenses (3,163) (1,723) (4,886) Other financing sources and uses, net 7 Net change in fund balances 4,105 2,883 6,988 Balances, beginning of year 129,668 100,723 230,391 Balances, end of year $ 133,773 $ 103,606 $ 237,379 See Note to Required Supplementary Information. 82 Budgeted Amounts Final to Actual Variance - Positive Original Final (Negative) $ 66,474 $ 66,474 $ 208 12,026 12,311 3 4,114 4,114 (28) 2,880 2,880 959 1 1 (1) 2,010 2,010 844 32,541 47,348 (6,403) 50,693 50,353 (13) 2,599 2,732 4,768 3,434 3,910 620 164,746 179,822 957 29,233 29,779 401 12,026 12,311 1,954 680 680 - 16,828 17,062 684 9,455 31,072 16,731 12,143 13,462 2,159 12,953 13,172 6 19,765 57,521 34,571 81,516 89,119 22,007 194,599 264,178 78,513 (29,853) (84,356) 79,470 269 (1,769) (72,751) $ 79,739 158,528 230,391 $ 156,759 $ 157,640 83 City of Iowa City, Iowa Budgetary Comparison Schedule Budget to GAAP Reconciliation Required Supplementary Information For the Year Ended June 30, 2023 (dollar amounts expressed in thousands) Governmental Fund Types Accrual Modified Accrual Budget Basis Adjustments Basis Revenues $ 115,390 $ (3,196) $ 112,194 Expenditures 118,553 (7,097) 111,456 Net (3,163) 3,901 738 Other financing sources and uses, net 7,268 (724) 6,544 Beginning Fund Balances 129,668 (13,666) 116,002 Ending Fund Balances $ 133,773 $ (10,489) $ 123,284 Enterprise Fund Types Accrual Accrual Budget Basis Adjustments Basis Revenues $ 65,389 $ 875 $ 66,264 Expenditures 67,112 (1,247) 65,865 Net (1,723) 2,122 399 Other financing sources and uses, net 4,606 191 4,797 Beginning Fund Balances 100,723 307,670 408,393 Ending Fund Balances $ 103,606 8 309,983 8 413,589 See Note to Required Supplementary Information. CE! City of Iowa City, Iowa Note to Required Supplementary Information - Budgetary Reporting For the Year Ended June 30, 2023 In accordance with the Code of Iowa, the City Council annually adopts a budget following required public notice and hearing which includes all funds, except internal service funds and custodial funds. The budget basis of accounting is a modified accrual basis. The annual budget may be amended during the year utilizing similar statutorily prescribed procedures. Formal and legal budgetary control is based upon nine major classes of expenditures known as functions, not by fund or fund type. These nine functions are: public safety, public works, health and social services, culture and recreation, community and economic development, general government, debt service, capital outlay and business -type. The legal level control is at the aggregated function level, not at the fund or fund type level. During the year, budget amendments increased budgeted revenues by $15,076,000 and expenditures by $69,579,000. The budget amendments were primarily due to changes in the breadth and timing of capital improvement projects, which the City budgets in full during the initial year of the projects and amends future year budgets for carryover. riy City of Iowa City, Iowa Required Supplementary Information - Schedule of the City's Proportionate Share of the Net Pension Liability Municipal Fire and Police Retirement System of Iowa For the Last Nine Years* (amounts expressed in thousands) * In accordance with GASB Statement No. 68, the amounts presented for each fiscal year were determined as of June 30 of the preceding fiscal year. Note: GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10 -year trend is compiled, the City will present information for those years for which information is available. See Notes to Required Supplementary Information - Pension Liability. 1-R3 2023 2022 2021 City's proportion of the net pension liability 3.379080% 3.529220% 3.621079% City's proportionate share of the net pension liability $ 18,976 $ 7,926 $ 28,882 City's covered payroll 11,413 11,468 11,503 City's proportionate share of the net pension liability as a percentage of its covered payroll 166.27% 69.11% 251.08% Plan fiduciary net position as a percentage of the total pension liability 84.62% 93.62% 76.47% * In accordance with GASB Statement No. 68, the amounts presented for each fiscal year were determined as of June 30 of the preceding fiscal year. Note: GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10 -year trend is compiled, the City will present information for those years for which information is available. See Notes to Required Supplementary Information - Pension Liability. 1-R3 2020 2019 2018 2017 2016 2015 3.684880% 3.706970% 3.648635% 3.697128% 3.704972% 3.778137% $ 24,170 $ 22,071 $ 21,398 $ 23,117 $ 17,406 $ 13,696 11,155 10,743 10,347 10,019 9,716 9,648 216.67% 205.45% 206.80% 230.73% 179.15% 141.96% 79.94% 81.07% 80.60% 78.20% 83.04% 86.27% P.1'A City of Iowa City, Iowa Required Supplementary Information - Schedule of the City's Contributions Municipal Fire and Police Retirement System of Iowa For the Last Ten Years (amounts expressed in thousands) See Notes to Required Supplementary Information - Pension Liability. 2023 2022 2021 2020 Statutorily required contributions $ 3,009 $ 2,988 $ 2,903 $ 2,808 Contributions in relation to the statutorily required contribution (3,009) (2,988) (2,903) (2,808) Contribution deficiency (excess) $ $ $ $ - City's covered payroll $ 12,590 $ 11,413 $ 11,468 $ 11,503 Contributions as a percentage of covered payroll 23.90% 26.18% 25.31% 24.41% See Notes to Required Supplementary Information - Pension Liability. 2019 2018 2017 2016 2015 2014 $ 2,902 $ 2,759 $ 2,682 $ 2,782 $ 2,955 $ 2,906 (2,902) (2,759) (2,682) (2,782) (2,955) (2,906) $ 11,155 $ 10,743 $ 10,347 $ 10,019 $ 9,716 $ 9,648 26.02% 25.68% 25.92% 27.77% 30.41% 30.12% P.P7 City of Iowa City, Iowa Notes to Required Supplementary Information - Pension Liability Municipal Fire and Police Retirement System of Iowa Year ended June 30, 2023 Changes of benefit terms: There were no significant changes of benefit terms. Changes of assumptions: The 2018 valuation changed postretirement mortality rates on the RP -2014 Blue Collar Healthy Annuitant Table with males set -forward zero years, females set -forward two years and disabled individuals set -forward three years (male only rates), with generational projection of fixture mortality improvements with 50% of Scale BB beginning in 2017. The 2017 valuation added five years projection of fixture mortality improvement with Scale BB. The 2016 valuation changed postretirement mortality rates to the RP -2000 Blue Collar Combined Healthy Mortality Table with males set -back two years, females set -forward one year and disabled individuals set -forward one year (male only rates), with no projection of fixture mortality improvement. The 2015 valuation phased in the 1994 Group Annuity Mortality Table for postretirement mortality. This resulted in weighting of 1/12 of the 1971 Group Annuity Mortality Table and 11/12 of the 1994 Group Annuity Morality Table. The 2014 valuation phased in the 1994 Group Annuity Mortality Table for postretirement mortality. This resulted in weighting of 2/12 of the 1971 Group Annuity Mortality Table and 10/12 of the 1994 Group Annuity Morality Table. Fio "I City of Iowa City, Iowa Required Supplementary Information - Schedule of the City's Proportionate Share of the Net Pension Liability Iowa Public Employees' Retirement System For the Last Nine Years* (amounts expressed in thousands) City's proportion of the net pension liability City's proportionate share of the net pension liability City's covered payroll City's proportionate share of the net pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability 2023 2022 2021 0.4185650% -0.1604936% 0.3947745% $ 15,814 $ 554 $ 27,732 33,752 32,047 31,345 46.85% 1.73% 88.47% 90.34% 100.81% 82.90% * In accordance with GASB Statem®t No. 68, the amounts presented for each fiscal year were determined as of June 30 of the preceding fiscal year. Note: GASB Statem®t No. 68 requires too years of information to be presented in this table. However, until a full 10 -year trend is compiled, the City will present information for those years for which information is available. See Notes to Required Supplementary Information - Pension Liability. Fra 2020 2019 2018 2017 2016 2015 0.4053890% 0.4016869% 03968158% 0.3962696% 0.4159256% 0.4378904% $ 23,475 $ 25,420 $ 26,433 $ 24,938 $ 20,549 $ 17,366 30,852 30,190 29,619 28,448 28,495 28,654 76.09% 84.20% 89.24% 87.66% 72.11% 60.61% 85.45% 83.62% 82.21% 81.82% 85.19% 87.61% Fxl City of Iowa City, Iowa Required Supplementary Information - Schedule of the City's Contributions Iowa Public Employees' Retirement System For the Last Ten Years (amounts expressed in thousands) Statutorily required contributions Contributions in relation to the statutorily required contribution Contribution deficiency (excess) City's covered payroll Contributions as a percentage of covered payroll 2023 2022 2021 2020 $ 3,493 $ 3,186 $ 3,025 $ 2,959 (3,493) (3,186) (3,025) (2,959) 37,000 $ 33,752 $ 32,047 $ 31,345 9.44% 9.44% 9.44% 9.44% See Notes to Required Supplementary Information - Pension Liability. FE! 2019 2018 2017 2016 2015 2014 $ 2,912 $ 2,696 $ 2,645 $ 2,540 $ 2,545 $ 2,559 (2,912) (2,696) (2,645) (2,540) (2,545) (2,559) $ 30,852 $ 30,190 $ 29,619 $ 28,448 $ 28,495 $ 28,654 9.44% 8.93% 8.93% 8.93% 8.93% 8.93% W-1 City of Iowa City, Iowa Notes to Required Supplementary Information - Pension Liability Iowa Public Employees' Retirement System Year ended June 30, 2023 Cbanges of benefit terms: There are no significant changes in benefit terms. Cbanees of assumotions.' The 2022 valuation incorporated the following refinements after a quadrennial experience study: • Changed mortality assumptions to the PubG-2010 mortality tables with mortality improvements modeled using Scale MP -2021. • Adjusted retirement rates. • Lowered disability rates. • Adjusted termination rates. The 2018 valuation implemented the following refinements as a result of an experience study dated June 28, 2018: • Changed mortality assumptions to the RP -2014 mortality tables with mortality improvements modeled using Scale MP -2017. • Adjusted retirement rates. • Lowered disability rates • Adjusted the probability of a vested Regular member electing to receive a deferred benefit. • Adjusted the merit component of the salary increase assumption. The 2017 valuation implemented the following refinements as a result of an experience study dated March 24, 2017: • Decreased the inflation assumption from 3.00% to 2.60%. • Decreased the assumed rate of interest on member accounts from 3.75% to 3.5% per year. • Decreased the discount rate from 7.50% to 7.00%. • Decreased the wage growth assumption from 4.00% to 3.25%. • Decreased the payroll growth assumption from 4.00% to 3.25%. The 2014 valuation implemented the following refinements as a result of a quadrennial experience study: • Decreased the inflation assumption from 3.25% to 3.00% • Decreased the assumed rate of interest on member accounts from 4.00% to 3.75% per year. • Adjusted male mortality rates for retirees in the Regular membership group. • Moved from an open 30 year amortization period to a closed 30 year amortization period for the UAL beginning June 30, 2014. Each year thereafter, changes in the UAL from plan experience will be amortized on a separate closed 20 year period. PPA City of Iowa City, Iowa Required Supplemmtare Information - Schelde of Ciauges u AeCity's Total OPEB LiabdNy, Related Ratios and Notes For tie Last Six Years (amounts expressed in thousands) Note: GASBStat®eni No. 75regoirestenyemsofidmm fimtobe Fesentedinthistable. Ho,untilafull l0-yeabendiscompiled,the GtywJl7esentidmmmionfmthoseyemsfmwhichiufmmatimisays le. Note: Noassetsareaxamohrtedinatrustdentmcetsthemter iiapaagraph4of GASStat®ent No. 75. Channesalbnnefitnuuns There were no significant Changes of benefit terms. Channeaulna.nnnno- Changes in asaomptims and other inputsrdleet the dfeets ofehanges in the disecontiate euchperiod The fouowingarethe Ascoontrmesusedine hperiod. Yea—&dhne30.2W3 41390 Yea—&dhne30.2W2 40990 Year —&d hne 30, 2021 2.1990 Yea—&dhne30.2M 26690 Year endedhne 30,2019 35190 Year endedhne 30,2018 38790 Health erne trendrmes havebeenupdaedto m initial trendrae 47W, i ceasing by 0590 annually tom ultimate rate of 4 590. Fn 2023 2022 2021 2020 2019 2018 Service Cost I 617 I 823 I 734 I 633 I 553 I 502 Merest 353 226 240 323 29'1 245 DifTerence between expected and xmdexperience (118) (254) 459 (483) 1.161 (377) Changes in assumptions (25) (1942) 305 (83) 225 982 Bendtpaymen¢ (221) (427) (667) (641) (948) (174) Na chmgein mW OPEB liability 606 (1,574) 1,0'11 (251) 1288 1.178 Total (DI)EB liability beginning 4yeat 8,124 9,698 8,627 8,878 7,590 6,412 Total (REB liability end of year I 8,730 I 8,124 I 9,698 I 8,627 I 8,878 I 7,590 City's Covered®ploy«payroll I 49,590 I 44,134 I 43515 I 42,848 I 42,00'1 I 40.933 Total (REB liability as apmcentage of c—od ®ployee ser oll 1760Yo 184190 222W. 20.1390 2113% 185490 Note: GASBStat®eni No. 75regoirestenyemsofidmm fimtobe Fesentedinthistable. Ho,untilafull l0-yeabendiscompiled,the GtywJl7esentidmmmionfmthoseyemsfmwhichiufmmatimisays le. Note: Noassetsareaxamohrtedinatrustdentmcetsthemter iiapaagraph4of GASStat®ent No. 75. Channesalbnnefitnuuns There were no significant Changes of benefit terms. Channeaulna.nnnno- Changes in asaomptims and other inputsrdleet the dfeets ofehanges in the disecontiate euchperiod The fouowingarethe Ascoontrmesusedine hperiod. Yea—&dhne30.2W3 41390 Yea—&dhne30.2W2 40990 Year —&d hne 30, 2021 2.1990 Yea—&dhne30.2M 26690 Year endedhne 30,2019 35190 Year endedhne 30,2018 38790 Health erne trendrmes havebeenupdaedto m initial trendrae 47W, i ceasing by 0590 annually tom ultimate rate of 4 590. Fn Nonmaj or Governmental Funds Special Revenue Funds Special Revenue Funds account for revenues derived from speck sources that are required to be accounted for as separate funds. The funds in this category and their purpose are as follows: Economic Development Fund — accounts for revenue and expenditures of economic development activities. Community Development Block Grant Fund — accounts for revenue from the U.S. Department of Housing and Urban Development's Community Development Block Grant programs. Metropolitan Planning Organization of Johnson County Fund — accounts for the financial activities of the metropolitan/rural cooperative planning organization. City of Iowa City, Iowa Combining Balance Sheet Nonmajor Governmental Funds June 30, 2023 (amounts expressed in thousands) Total assets $ 839 $ 3,444 $ Liabilities, Deferred Inflows of Resources and Fund Balances Liabilities Accounts payable $ 44 $ 50 $ Accrued liabilities - 2 Due to other funds - $ 3 Total liabilities Deferred Inflows of Resources Unavailable revenues: Succeeding year property taxes Total deferred inflows of resources Fund Balances Restricted Unassigned Total fund balances Total liabilities, deferred inflows of resources and fiord balances 547 $ 4,830 1 S 95 9 11 3 44 55 10 109 612 612 612 612 434 3,389 537 4,360 (251) - - (251) 183 3,389 537 4,109 $ 839 $ 3,444 $ 547 $ 4,830 Special Revenue Metropolitan Community Planning Development Organization Economic Block of Johnson Development Grant County Total Assets Equity in pooled cash and investments $ 175 $ - $ 474 $ 649 Receivables: Property tax 656 - - 656 Interest 8 - 2 10 Notes - 3,389 - 3,389 Due from other governments - 55 71 126 Total assets $ 839 $ 3,444 $ Liabilities, Deferred Inflows of Resources and Fund Balances Liabilities Accounts payable $ 44 $ 50 $ Accrued liabilities - 2 Due to other funds - $ 3 Total liabilities Deferred Inflows of Resources Unavailable revenues: Succeeding year property taxes Total deferred inflows of resources Fund Balances Restricted Unassigned Total fund balances Total liabilities, deferred inflows of resources and fiord balances 547 $ 4,830 1 S 95 9 11 3 44 55 10 109 612 612 612 612 434 3,389 537 4,360 (251) - - (251) 183 3,389 537 4,109 $ 839 $ 3,444 $ 547 $ 4,830 City of Iowa City, Iowa Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds For the Year Ended June 30, 2023 (amounts expressed in thousands) Expenditures Current: Community and economic development 3,565 1,847 770 6,182 Total expenditures 3,565 1,847 770 6,182 Excess (deficiency) of revenues over (under) expenditures Other Financing Sources (Uses) Transfers in Transfers out Total other financing sources and (uses) Net change in fund balances Fund Balances, Beginning Fund Balances, Ending 1,138 387 (399) 1,126 81 - 402 483 (1,847) (85) - (1,932) (1,766) (85) 402 (1,449) (628) 302 811 3,087 3 (323) 534 4,432 $ 183 $ 3,389 $ 537 $ 4,109 101 Special Revenue Metropolitan Community Planning Development Organization Economic Block of Johnson Development Grant County Total Revenues Property taxes $ 4,608 $ - $ - $ 4,608 Intergovernmental 33 2,103 340 2,476 Use of money and property 62 28 13 103 Miscellaneous - 103 18 121 Total revenues 4,703 2,234 371 7,308 Expenditures Current: Community and economic development 3,565 1,847 770 6,182 Total expenditures 3,565 1,847 770 6,182 Excess (deficiency) of revenues over (under) expenditures Other Financing Sources (Uses) Transfers in Transfers out Total other financing sources and (uses) Net change in fund balances Fund Balances, Beginning Fund Balances, Ending 1,138 387 (399) 1,126 81 - 402 483 (1,847) (85) - (1,932) (1,766) (85) 402 (1,449) (628) 302 811 3,087 3 (323) 534 4,432 $ 183 $ 3,389 $ 537 $ 4,109 101 Nonmajor Enterprise Funds Enterprise Funds account for operations and activities of the City that are financed and operated in a manner similar to a private business enterprise, and where the costs of providing services to the general public on a continuing basis are expected to be financed or recovered primarily through user charges, or where the City has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. The funds in this category are as follows: Airport Fund — accounts for the operation and maintenance of the airport facility. Parking Fund — accounts for the operation and maintenance of the "on" and "off' street public parking facilities. 103 City of Iowa City, Iowa Combining Statement of Net Position Nonmajor Enterprise Foods June 30, 2023 (amounts expressed in thousands) Liabilities Current liabilities Accounts payable Airport Parking Total Assets 48 969 1,017 Current assets: 2 25 27 Equity in pooled cash and investments $ 112 $ 4,286 $ 4,398 Receivables: 211 211 Accounts and unbilled usage 22 49 71 Interest - 16 16 Lease 28 - 28 Due from other governments 435 6 441 Total current assets 597 4,357 4,954 Noncurrent assets: 4 45 49 Restricted assets: 31 496 527 Equity in pooled cash and investments 8 304 312 Lease receivable 533 - 533 Capital assets: 328 3,359 3,687 Land 11,995 3,489 15,484 Buildings 5,458 42,664 48,122 Improvements other than buildings 445 328 773 Machinery and equipment 532 448 980 Infrastructure 17,451 - 17,451 Accumulated depreciation (14,445) (25,996) (40,441) IT subscriptions - 349 349 Construction in progress 1,421 1,421 Total noncurrent assets 23,398 21,586 44,984 Total assets 23,995 25,943 49,938 Deferred Outflows of Resources Pension related deferred outflows 9 147 156 OPEB related deferted outflows 2 50 52 Total deferted outflows of resources 11 197 208 Liabilities Current liabilities Accounts payable 7 104 111 Contracts payable 48 969 1,017 Accrued liabilities 2 25 27 Employee vested benefits 4 60 64 Due to other funds 211 211 Total current liabilities 272 1,158 1,430 Noncurrent liabilities: Liabilities payable from restricted assets: Deposits 8 - 8 Advances from other funds - 1,389 1,389 Employee vested benefits 4 45 49 Net pension liability 31 496 527 Other post employment benefits obligation 13 271 284 Total noncurrent liabilities 56 2,201 2,257 Total liabilities 328 3,359 3,687 Deferred Inflows of Resources Lease related deferted inflows 562 - 562 Pension related deferred inflows 4 67 71 OPEB related deferted inflows 4 74 78 Total deferred inflows of resources 570 141 711 Net Position Net investment in capital assets 22,809 20,313 43,122 Restricted for future improvements 100 304 404 Unrestricted 199 2,023 2,222 Total net position $ 23,108 $ 22,640 $ 45,748 104 City of Iowa City, Iowa Combining Statement of Revenues, Expenses and Changes in Fund Net Position Nonmajor Enterprise Funds For the Year Ended June 30, 2023 (amounts expressed in thousands) Airport Parking Total Operating Revenues: Charges for services $ 306 $ 5,296 $ 5,602 Miscellaneous - 86 86 Total operating revenues 306 5,382 5,688 Operating Expenses: Personal services 91 2,149 2,240 Commodities - 1,060 1,060 Services and charges 362 1,819 2,181 Interest income 453 5,028 5,481 Depreciation & amortization 994 1,285 2,279 Total operating expenses 1,447 6,313 7,760 Operating loss (1,141) (931) (2,072) Nonoperating Revenues (Expenses): Loss on disposal of capital assets - (203) (203) Operating grants 147 - 147 Lease revenue 83 - 83 Interest income 22 115 137 Total nonoperating revenues 252 (88) 164 Loss before capital contributions and transfers (889) (1,019) (1,908) Capital contributions 690 690 Transfers in 100 - 100 Transfers out - (29) (29) Change in net position (99) (1,048) (1,147) Net Position, Beginning 23,207 23,688 46,895 Net Position, Ending $ 23,108 $ 22,640 $ 45,748 inb7 CITY OF IOWA CITY, IOWA COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS For the Year Ended June 30, 2023 (amounts expressed in thousands) Airport Parking Total Cash Flows From Operating Activities Receipts from customers and users $ 316 $ 5,372 $ 5,688 Payments to suppliers (370) (2,121) (2,491) Payments to employees (100) (2,290) (2,390) Net cash flows used for operating activities (154) 961 807 Cash Flows From Noncapital Financing Activities Operating grants received 89 - 89 Transfers from other funds 100 - 100 Transfers to other funds - (29) (29) Advances from other funds 211 - 211 Repayment of advances from other funds - (373) (373) Net cash flows from (used for) noncapital financing activities 400 (402) (2) Cash Flows From Capital and Related Financing Activities Capital grants received 539 - 539 Lease revenues received 83 - 83 Acquisition and construction of property and equipment (1,097) (776) (1,873) Net cash flows used for capital and related financing activities (475) (775) (1,250) Cash Flows From Investing Activities Interest on mvmtmmts 22 100 122 Net increase (decrease) in cash and cash equivalents (207) (116) (323) Cash and Cash Equivalents, Beginning 327 4,706 5,033 Cash and Cash Equivalents, Ending $ 120 $ 4,590 $ 4,710 Reconciliation of operating loss to net cash flows from (used for) operating activities: Operating loss $ (1,141) $ (931) $ (2,072) Adjustments to reconcile operating loss to net cash flows used for operating activities: Depreciation expense 994 1,285 2,279 Changes in: Receivables: Accounts and unbilled usage 9 (3) 6 Due from other governments 1 (3) (2) Accounts payable (8) 758 750 Accrued liabilities (2) (51) (53) Net pension liability 30 479 509 Deferred outflows of resources - (12) (12) Deferred inflows of resources (39) (578) (617) Other post employmmt bmefrts asset/obligation 1 19 20 Total adjustments 987 1,892 2,879 Net cash flows used for operating activities $ (154) $ 961 $ 807 Noncash Investing, Capital, and Financing Activities: Capital grants not yet received $ 314 $ - $ 314 Operating grants not yet received $ 121 $ 3 $ 124 Internal Service Funds Internal Service Funds account for goods and services provided by one department to other City departments on a cost -reimbursement basis. The funds in this category are: Equipment Maintenance Fund —accounts for the provision of maintenance for City vehicles, equipment and vehicle rental from a central vehicle pool, and two-way radios provided to other City departments. Central Services Fund — accounts for the support services of photocopying, mail and overnight shipping provided to other City departments. Loss Reserve Fund — accounts for the property, liability, Workers' Compensation and health insurance premiums and claims activity for City departments, including the self-insured retention portion. Information Technology Fund — accounts for the accumulation and allocation of costs associated with telecommunications and data processing, including the operation and replacement of equipment. Inn Assets Current assets: Equity in pooled cash and investments Receivables: Accounts and unbilled usage Interest Lease Due from other governments Inventories Total current assets Noncurrent assets: Lease Receivable Capital assets: Land Buildings Improvements other [ham buildings Machinery and equipment Infrastructure Accumulated depreciation IT subscriptions Accumulated amortization Construction in progress Total noncurrent assets Total assets Deferred Outflows of Resources Pension related deferred outflows OPEB related deferred outflows Total deferred outflows of resources Liabilities Current liabilities: Accounts payable Accrued liabilities Employee vested benefits Subscription liability Total current liabilities Noncurrent liabilities: Employee vested benefits Subscription liability Net pension liability Other post employment benefits liability Total noncurrent liabilities Total liabilities Deferred Inflows of Resources Lease related deferred inflows Pension related deferred inflows OPEB related deferred inflows Net Position Net investment in capital assets Unrestricted Total net position City of Iowa City, Iowa Combining Statement of Net Position Internal Service Funds June 30, 2023 (amounts expressed in thousands) Equipment Central Loss Information Maintenance Services Reserve Technology Total $ 20,504 $ 884 $ 20,301 $ 4,370 $ 46,059 34 - 94 - 128 50 4 70 16 140 - - - 20 20 79 2 81 631 - - - 631 21,298 888 20,465 4,408 47,059 20 20 685 11 265 - 685 1,370 - - 183 1,553 50 - - - 50 25,631 146 19 1,613 27,409 - - - 3,634 3,634 (14,140) (60) (19) (2,065) (16,284) 1,329 - - 608 608 - - - (463) (463) 49 - - 372 421 13,645 86 - 3,902 17,633 34,943 974 20,465 8,310 64,692 100 3 20 114 237 38 2 2 24 66 138 5 22 138 303 193 11 265 116 585 16 - 3,071 19 3,106 38 2 4 23 67 - - - 57 57 247 13 3,340 215 3,815 28 1 4 19 52 - - - 59 59 378 11 78 390 857 206 13 13 129 361 612 25 95 597 1,329 859 38 3,435 812 5,144 - - - 40 40 51 2 11 52 116 56 4 4 35 99 107 6 15 127 255 13,645 86 - 3,766 17,497 20.470 849 17.037 3,743 42,099 $ 34.115 $ 935 $ 17.037 $ 7,509 $ 59,596 111P.3 City of Iowa City, Iowa Combining Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds For the Year Ended June 30, 2023 (amounts expressed in thousands) Equipment Central Loss Information Maintenance Services Reserve Technology Total Operating Revenues Cbarges for services $ 7,662 $ 238 $ 13,995 $ 2,948 $ 24,843 Total operating revenues 7,662 238 13,995 2,948 24,843 Operating Expenses: Personal services 1,021 44 213 1,189 2,467 Commodities 2,390 4 5 721 3,120 Services and charges 745 110 11,752 565 13,172 4,156 158 11,970 2,475 18,759 Depreciation & amortization 2,159 26 - 381 2,566 Total operating expenses 6,315 184 11,970 2,856 21,325 Operating income 1,347 54 2,025 92 3,518 Nonoperating Revenues Crain (loss) on disposal of capital assets 35 - - 2 37 Lease Revenue - - - 19 19 Interest income 325 23 331 100 779 Interest expense - - - (5) (5) Total nonoperating revenues 360 23 331 116 830 Income before transfers Transfers in Transfers out Change in net position Net Position, Beginning, as restated Net Position, Ending 1,707 77 2,356 208 4,348 1,306 - - 14 1,320 (1,000) - - (124) (1,124) 2,013 77 2,356 98 4,544 32,102 858 14,681 7,411 55,052 $ 34,115 $ 935 $ 17,037 $ 7,509 $ 59,596 IW*1 City of Iowa City, Iowa Combining Statement of Cash Flows Internal Service Funds For the Year Ended June 30, 2023 (amounts expressed in thousands) Cash Flows From Capital and Related Equipment Central Loss Information Maintenance Services Reserve Technology Total Cash Flows From Operating Activities Receipts from users $ 7,618 $ 238 $ 14,080 $ 2,950 $ 24,886 Payments to suppliers (3,100) (113) (12,063) (1,194) (16,470) Payments to employees (1,144) (43) (235) (1,342) (2,764) Net cash flows from operating activities 3,374 82 1,782 414 5,652 Cash Flows From Noncapital Financing (3,516) Lease revenues received - Activities - 19 Transfers from other funds 1,306 - - 14 1,320 Transfers to other foods (1,000) (5) (124) (1,124) Net cash flows from (used for) noncapital - - financing activities 306 (55) (110) 196 Cash Flows From Capital and Related Financing Activities Acquisition and construction of property and equipment (3,451) (43) - (22) (3,516) Lease revenues received - - - 19 19 Interest paid on subsciption liability - - - (5) (5) Principal paid on subsciption liability - - - (55) (55) Proceeds from sale of property 211 2 213 Net cash flows used for capital and related financing activities (3,240) (43) (61) (3,344) Cash Flows From Investing Activities Interest on investments 286 19 278 84 667 Net increase in cash and cash equivalents 726 58 2,060 327 3,171 Cash and Cash Equivalents, Beginning 19,778 826 18,241 4,043 42,888 Cash and Cash Equivalents, Ending $ 20,504 $ 884 $ 20,301 $ 4.3-0 $ 46,059 Reconciliation of operating income to net cash flows from operating activities: Operating income $ 1,347 $ 54 $ 2,025 $ 92 $ 3,518 Adjustments to reconcile operating income to net cash flows from operating activities: Depreciation/amortization expense 2,159 26 - 381 2,566 Changes in: Receivables: Accounts and unbilled usage 11 - 85 2 98 Due from other governments (55) - - - (55) Inventories 61 - - - 61 Accounts payable (26) 1 (49) 92 18 Accrued liabilities (33) (2) (263) (35) (333) Employee vested benefits 3 3 1 4 11 Net pension liability 364 11 75 375 825 Deferred outflows of resources 5 1 1 (9) (2) Deferred inflows of resources (476) (13) (94) (497) (1,080) Other post employment benefits liability 14 1 1 9 25 Total adjustments 2,027 28 (243) 322 2,134 Net cash flows from operating activities $ 3,374 $ 82 $ 1,782 $ 414 $ 5,652 Noncash Investing, Capital, and Financing Activities: Contributions of capital assets from government and others $ - $ - $ 110 Statistical Section Tabs Statistical Section This part of the City of Iowa City's annual comprehensive financial report represents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the government's overall financial health. Contents Page Financial Trends 113 These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time. Revenue Capacity 118 These schedules contain information to help the reader assess the government's most significant local revenue source, the property tax. Debt Capacity 128 These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the fixture. Demographic and Economic Information 134 These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. Operating Information 136 These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial report for the relevant year. 111 , 112 Go..tal acfi ities Net inwstmart in capital assets Restricted umeabicted Total goy nnnmtal acti6fies net position Business -type activities Net inwstmart in capital assets Restricted umeabicted Total business -type actieities net position Primary go�mnart Net inwstm®t in capital assets Restricted umeaoicted Total primary goy nnnmt net position City of Iowa City, Iowa Net Petition by Cmnponent Last T. Fiscal Years (Accoml basis ofaccounting) (amounts ccpressed in thousands) 2014 2015 2016' 2017 2018 2019 2020 2021 2022 2023 $ 138,482 $ 153,729 $ 163,362 $ 183,651 $ 203,0]] $ 208,028 $ 220,004 $ 228,418 $ 230,285 $ 235,218 39,958 36,447 42,154 4],6]6 41,490 38,819 33,578 33,664 36,900 40,048 39,758 15,520 18,402 16,264 17,646 20,12! 21,819 25,528 39,505 52,971 $ 218,198 $ 205,696 $ 223,918 $2!],591 $ 262,213 $ 266,9]1 $ 2]5,401 $ 28],610 $ 306,690 _L32823] $ 264,]2] $ 2]9,2]2 $ 2]9,6]9 $ 285,912 $ 294,109 $ 304,111 $ 314,523 $ 315,915 $ 325,]8] $ 325,391 19,438 22,389 22,269 21,238 22,219 18,055 17,558 14,859 13,216 7,959 71,542 5],36] 69,472 76,664 73,126 ]],224 76,661 84,097 92,370 104,736 735570] -77778- -FM770- $ 383,814 -77777- -7779F -7777u- -FT7771- -T431,77 -77777r $ 403,209 $ 433,001 $ 443,041 $ 469,563 $ 497,186 $ 512,139 $ 534,527 $ 544,333 $ 556,072 $ 560.609 59,396 58,836 64,423 68,914 63,709 56,874 51,136 48,523 50,116 48,007 111,300 ]2,88] 8],8]4 92,928 90,]]2 97,348 98,480 109,625 131,875 15],]07 -F777T -T7777 $ 595,338 -$ 6M5-5 -TF779-7 -T779-1 $ 684,143 -T7779-1 -T7M-3 -T77= 'The City ofIowa City reclassified theCable Fund from an Enteryrise Fund m the (kneral Fund effective July 1, 2015. 113 Eapeoses Gw entalsmties Public safety Pablic wala Culture and mQ on Community and economic development Gener gmer mt Debt som Taal gw egg a reties capeuus Buan stype eotmties Wastewmer Water Smitatiw Housing mth my Padang Avpat Stamwmer Cable televivon Trmdt Taal business -type s mties expenses Taal primary goua®m eapeoses No,- R- -es Gw entalsmties Charges fors nes Public safay Public wala CulNre and recreation Community and economic dwdopment Uener gma ret Operndng grm t, and mntdbutims Capiml grmt, and convibutims Taal gwsnmmtal azlmties Fogram rwenoes Buan sstype activities Chargesfm ss;c Wastewater Winer Smitatiw Housing mth my Pa g Avpat Stamwmer Cable Television Trmdt Capital grmts and conSibutious Wartewmer Capital grants and contribotims Water Capital grants and contribvtims Smitotiou Capita grants and comribvtims Ahpmt Capital grants and comributims Stor-. Capital grants and comributims Parlong CWtd grams and comribvtims Trmdt Operating grants mdccmuibotims Housing mthaity Opaatinggrmtsm _uibotims Water Operating grants mdccmuibotims Airport Op...g grmts andccm ibutious Smimtim Operatinggrmtsmdccmuibotims Wastewater Operating grmts mdconuibutims Stamwater Operating grmts and cont butious Parting Operating grmts am contnbutious Transit Tad business type wtMties program revmues Taal primary goua®m-es City of Iowa City, Iowa Changes in Net Position Last T® Fiscal Yeas (Acer al Lads 6accounting) (amounts expressed in tbcu m&) 2014 2015 T 2080 2018 2019 2020 202E 2022 2023 $ 22,021 $ 21,193 $ 22,029 $ 25,002 $ 25,191 $ 26265 $ 29252 $ 30,411 $ 23,609 $ 26,450 8258 11,030 10,839 12,032 12,813 16324 06,090 16,363 10,046 19,051 16,586 14,049 14,422 15,525 16,363 16,009 16233 15.774 16923 18,135 10,059 7,093 6,086 8253 12,019 16,022 9,383 8,549 a(p4 13,570 7,687 7.752 624(1 6,124 6,858 7,524 7,693 10,529 7,439 8714 1799 1,517 1287 1,481 1,414 1,444 1,452 1,561 1,553 1,622 67,108 6264E 61603 67,417 74,658 83,588 80,084 83,187 78344 87,602 21,139 12,131 11.866 11233 113W 11.413 10,809 12,520 12,105 12,869 8,723 8,403 8,149 892E 9,472 9,543 9302 00,077 9,471 9,672 8,402 8,114 8.735 9,123 9,408 10,858 00,045 10,045 00,003 10282 7.701 7,873 8,378 8.798 9,535 00,170 00,020 00,040 11,832 12,067 4,003 4,678 4,460 4,620 5,590 5,46E 5,014 4,613 5,381 6,436 1209 1,612 1,599 1,402 1,680 1,466 2511 1,835 1,509 1,433 1,314 2,09E 1.989 2,432 1,844 1,832 2,198 2,105 2,190 2,393 781 704 - - - - - - - - 7.795 7,379 7,486 7263 8Ol 8,833 9,04E 8109 8,573 9296 61059 52,985 52660 53792 56992 59,576 59,039 59,543 61080 64428 E 12827 E LL5626E 114263 _L.UL E 131650 E 143164 E 139123 E 142730 E 139524 E 152030 $ 3,626 $ 3926 $ 4,813 $ 5286 $ 4,438 $ 4,870 I 4,430 $ 4271 $ 4,625 $ 5,129 60 388 628 724 62 2% 243 482 149 112 808 801 823 842 836 854 508 322 627 6% 45 50 1,044 36 441 548 59 1,837 3,625 2,066 3,030 2975 1252 1,524 1,520 1,717 1551 1,582 1.728 1,871 3231 8701 9.941 00,828 10245 13,758 13,113 12,479 04,490 15,550 5,580 11556 3,999 9.952 1,459 1912 1.915 2,845 4,316 3,113 16,381 28,397 22500 29192 19000 24009 21,819 23.824 29561 28537 12,559 12,089 12,266 12271 12,626 12,830 12,357 12,055 12,120 12,333 8443 8.527 9,134 9295 9,473 9,640 14048 9.934 10,127 10,473 8.467 9,015 9,215 9927 10,014 10,007 10,193 11944 11289 11,853 213 237 300 321 323 295 280 2% 282 309 5294 5,502 5,438 5,453 5,648 5.982 4,354 3.758 5,054 52% 328 349 333 345 348 361 371 376 372 389 1,093 1,047 1,068 1,544 1,560 1,568 1.730 1.701 1704 1.730 773 750 - - - - - - - - 2,185 2389 2,099 2,089 2216 2,171 1,802 1,385 1.745 1,822 7,105 1,370 3,415 2226 1.913 1,827 2,550 1,580 964 167 539 581 254 869 483 488 %5 834 481 235 22 03 5214 137 260 58 49 38 134 267 154 6% 700 792 370 1,251 892 902 876 1230 6% 540 243 308 395 3,827 77 3,416 6,721 7,628 8,318 8,532 9,065 9,443 9,875 9,691 11,481 11529 6 2 - - - - 2 45 42 6 56 232 128 69 72 14 8% 332 259 147 27 25 3 - 3 104 20 18 105 - 62 20 - - - - 8 - 77 - 13 279 95 - 2 - - - - - 3 3 3118 2082 2095 2235 2,088 2,152 3107 3016 5096 5,059 62170 53,154 55,199 56,866 6.624 57,846 59571 58639 65,468 62.576 E 7855E EBL SSL E 71699 _L_86258 _L_29625 E 8L 855 E 81390 E 82463 _L_25029 E 9L LL3 Na (Expens) / Rouen Gw®mmtul activities $ (50727) $ (34244) $ (39,103) $ (38225) $ (55657) $ (59,579) $ (58265) $ (59363) $ (48783) $ (59,(65) Buswess-type actisities 1.011 169 2,539 3,074 3.632 1.730 532 42881,852 Taal PnmarY gone®ent M expense Gener Rwm- and C1er(3nges in Na Petition Gw ental actie;ties Nop�Gersdre RaguYtaaess W a LUessO SalOption the Gr=antstr Gores and comnbutiovs ver resniaed to speed' rc pvryoses Earrings (loss) on imesments ocus too.osAe Gain m sale of assets Tranders RessTag Tad g gwanmental aztmties $ 50.551 $ 52205 $ 53,114 $ 57,649 $ 59,046 $ 61.739 $ 62,846 $ 69,482 $ 70,678 $ 70824 6,745 - - - - - - - - - 66 2,718 2,810 2.717 2,802 2706 2.935 2,696 2,576 3,545 3.786 - 1,048 2,080 1,583 2,547 1,552 1,513 1,587 1,555 4244 973 1,088 4,045 3397 2,368 3,257 2,585 841 (544) 4,325 4,353 5.518 4,464 3,369 3,656 3 333E 3,030 3,524 3984 1,651 035 298 2,05E 840 186 186 LLL 253 257 4242 (6,192) (L.OS'p (6395) (7,053) 1,814 (8661) (638' (6,157) (11.148) (4,876) 82 61,325 52,847 57,325 61,898 71271 64337 66,695 71,572 67,863 80.529 114 (contimed) Bu.uv ss -type aamties G®sale Farnings(loss) m imeson t Gain— sale Bassets msc morns Fund s R—mgnmmts speoal it® Taal basin—ss aamties Taal p i.., gave®m flange in 6a P—nm Go.-mtal actiNties Bum—type aarvities Taal primary gma®art City of Iowa City, Iowa Changes N NetPmifion (eomlmted) Last Tm Flual Yeas (AcanA basis ofacmunting) (®mnts-,-sed in tbws®ds) 2014 mm T 20U 2018 2019 2020 202E 2022 2023 494 009 015 938 1.4% 2,166 1.794 426 (l90) 2,605 725 856 2,463 69 2,438 1 74 22 23 1 265 374 362 1260 456 838 565 428 1,233 1.083 6,192 10,057 6,395 7,053 (1,814) 8,661 6,387 6,157 11,148 4,876 (82) - - - - - - (574) 7,676 11,420 9,853 9.320 2,576 11,666 8,820 7,033 12214 8,565 E� E &[Z6 E 6708 _L.U= S 8853 L.76= _L.=LL L.78= L_2071 _L_a= $ 10598 $ 18,603 $ 18222 $ 23,673 $ 15,620 $ 4.758 $ 8,430 $ 12209 $ 19,080 $ 21,464 R—I4iST —s-3� sT `2614 `239° 62°e—s--(.63r 9352—s--r"r —$ 11131 6713 —$ 2811, t The Ciry dlowa Gtyredasfdiedthe Cable Fundfi® m lintapsise Fundw the Gmend Fund dfenfi a July 1, 2015. s The Ciry dlowa Gtyredassdsed RcadUe Tae from G—al R—nnes to Openoiug Grmts �efa thefis yea ling June 30,2015. 115 Gwaal Fwd Noa,ea k Eesnktd conal d Assigud Fsservd Uvsssigvd ToW gm nal f ud All odea Gwaumwt d Funds Nm,eadable Eesnktd Unassigned Tofal all odna gov.meabd f ds City of Iowa City, Iowa Fund Balances, Governmental Funds Last Tw Fiscal Yrs (Modified ac 9 basis ofaccounda,) (amwu6 eapres mNuuswds) 2014 2015 2016' 2017 2018 2019 2020 2021 2022 2023 $ 69 $ 69 $ 69 $ 788 $ 793 $ 887 $ 549 $ 469 $ 1,889 $ 2,12] 26,533 25,291 18,9]5 9,974 1,942 1,808 1,747 1,455 2,015 2,310 - - 4,699 5,199 4,962 - - - - - 3,400 - 1,143 1,342 1,437 3,565 5,7M 9,883 14,852 19,622 - 4,483 - - - - - - - - 17,907 19,286 23,366 21,993 28,516 34,358 35,369 40,414 40,074 37,W7 =T777: =7:77: =77: =T77 =T77: =77: =77: =77 =777 ==W: $ - $ - $ - $ 344 $ 165 $ 221 $ 278 $ 218 $ 213 $ 269 31,285 27,897 38,266 63,941 64,033 50,%6 48,728 51,931 57,346 61230 (9) - - - (38) (59) (611) (27) (417) (251) $ 31276 $ 2,3 897 $ 38266 $ 6L285 _L_61.160 _L_51..131 $ 48395 $ 52122 $ ZLIZ $ 612a8 The City oflowa City mclassifid the Cabk Fund 6®w Enn mise Fund to Ne Gweml Fund etkctive July 1, 2015. Ifll E slues_ Property faxes and asaessmwfs Luonsmandpamrts Ivtagwemm®fal Charges forsaviom Fines and forfeits Useof.,avdproperty Miscellavews Total govemm®fal activities rev®nes F ,ansditwes Cmr®t Public safety Publwc ods Caftwe and roa000iw Con sunity and econ®ic devebpmwt G®eml gwemmest D fit savioe Principal Inbsest Capilalp jests Total eapwdibrm P oms(defides,) ofrevesues over (under) ecpwdibnes W a financing swrom (uses)_ Ismanoe oflwgiam d fit Salecfcapifalamets Pranium (diswwt) on ism. ofbwds Tmnsfasin Tmnsfasout Total dha financing sources (uses) Na change in find balances City of Iowa City, Iowa Changes in Fund liahmces, Goya .t.1 Funds Last I. Fiscal Years (modified awmal basis of accwvtivg) (arvwv6 expressal iv Nwsavds) 2014 2015 2016' 2017 2018 2019 2020 2021 2022 2023 $ 53,]9] $ 55,014 $ 55,831 $ 60,452 $ 61,753 $ 64,672 $ 65,542 $ 72,058 $ 74,220 $ 74,611 1,660 1,806 3,056 3,521 2,734 2,981 2,352 2,541 2,786 2,854 17,636 21,086 20,230 21,140 14,944 16,828 18,603 20,127 22,756 23,443 1,819 2,201 3,357 2,355 2,295 2,690 1,715 3,446 5,314 3,890 - - 760 ]W 695 ]]6 609 375 434 372 909 1,080 946 1,235 1,937 2,561 1,872 ]]3 506 3,547 6090 7045 2,913 2,101 2875 2,261 2440 2,112 2,591 34]] $ 81861 $ 88235 $ 87093 $ 94,554 $ 87233 $ 92]]2 $ 93,133 $ 101,432 $ 108607 $ 112,194 $ 21,370 $ 21,996 $ 21,701 $ 22,513 $ 23,360 $ 21,295 $ 25,637 $ 26,167 $ 26,821 $ 27,619 8,432 12,071 9,466 9,186 10,052 10,894 10,586 11,44] 10,883 11,440 13,087 11,821 12,257 13,341 14,208 13,709 13,653 12,9]9 15,090 16,009 8,1% 5,711 5,346 7,695 11,074 15,723 8,627 8,305 11,076 13,629 ],IM 7,608 6,007 5,882 6,017 6,579 6,789 9,788 ],90] 8,748 13,560 12,564 13,230 13,305 11,895 12,080 11,385 12,745 11,220 11,085 1,903 1,669 1,475 1,59] 1,570 1,589 1,648 1,905 1,956 2,072 14,528 14762 14848 18405 28225 22632 21,211 12173 12073 20,821 $ 88260 $ 88,202 $ $4330 $ 91,924 $ 106,401 $ 107501 $ 99,536 $ 95,509 $ 97026 $ 111,456 $ (6,399) $ 33 $ 2763 $ 2,630 $ (19,168) $ (14,729) $ (6,403) $ 5923 $ 11,581 $ 738 $ 19,730 $ ],]85 $ 9,405 $ 22,570 $ 11,995 $ 12,535 $ 12,145 $ 11,325 $ 10,255 $ 9,105 1,684 165 252 2,292 140 758 111 233 256 1,538 385 199 441 120 236 81 92] 1,461 553 8% 13,010 13,089 25,133 34,675 34,666 25,663 21,236 21,223 21,229 21,631 (16,134) (23,430) (2$502) (47,033) (32,440) (34,369) (2],99]) (27,593) (35,215) (29,621) $ 18705 $ (2,192) $ 6729 $ 12,621 $ 14597 $ 4668 $ 6422 $ 6,652 $ 78 $ 6544 $ 12306 $ 2159 _L_=L. _L_j5254 $ 45]1 _LIU= $ 19 _L_j25]5 _L 11659 $ ]282 Debt service as a p.tage of .®capital exp®ditures 20]% 198% 212% 199% 1].1% 15.6% 15.9% 1].1% 146% 13.8% Debt services as nno sta eof expesdituresandbnsfors 148% 12 ]% 13.0% 10]9: 97% 96% 1029: 11.9% 100% 93% r The City oflowa City reclassified We Cabk Fund 6® an Enterprise Fund to Ne Gwxal Fund etfoctive July 1, 2015. 117 City of Iowa City, Iowa General Government Tax Revenues by Source Last Tee Fiscal Years (Modified accrual basis ofaccoueting) (amounts expressed in thousands) Fiscal Local Option Utility Year Promrty Tax Raad Use Tax HoteVMotel Tax Sales Tax' Franchise Fee Total 2014 51,331 6,745 967 466 1,031 60,540 2015 53,056 7,231 1,057 - 902 62,246 2016 53,878 8,320 1,079 - 874 64,151 2017 58,375 8,672 1,137 - 939 69,123 2018 59,730 8,427 1,046 - 976 70,179 2019 62,407 8,820 1,302 - 965 73,494 2020 63,523 9,163 1,135 - 884 74,705 2021 70,126 10,077 938 - 994 82,135 2022 71,362 9,900 1,708 - 1,149 84,119 2023 71,608 10,346 1,885 - 1,117 84,956 t 1% Local Option Sales Tax weet into effect 7/1/09 and was effective through 6/30/13. 118 City of Iowa City, Iowa A dkwda Taxable VM.of Property Lust Ten Fiscal Years Assessed Valuation Tax Collection Year'. FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 FY2015 FY2014 Reldential 7 5,302,710,934 $ 5,06],120,030 $ 4,958,618,218 $ 4,399,451,083 $ 4,255,59],838 $ 4,001,]61,4]8 $ 3,882,]5],454 $ 3,603,743,609 $ 3,488,112,611 $ 3,367,051,717 Agiculturul (azed at Ag rete) 1,514,220 1,]2],980 1,748,000 2,539,080 2,625,810 3,425,692 3,720,611 3,553,520 3,680,920 2,655,610 Multi-Reidetiul 540.]1],108 539,398,]39 539,636,381 489,176,499 471,420,082 411,460,472 410,426,868 Commercial I,N8,701'eas 1,056,414,063 1,060,943,044 932,699,374 915,961,068 821,949,555 805,734,128 1,129,39],919 1,144,437,631 1,113,600,025 Industnw ]],491,638 79,990.654 80,663,794 78905588 71,553,904 0;630.554 73,200.895 ]0.399,]39 8A153,614 0;830.630 Railroads 4,380,355 4,02,190 4,488,469 3,601,348 3,549,414 3,984,932 4,096,5]] 4,015,580 3,827,506 3,205,451 Utilities viout Oue B Electric 2,719,716 4,339,508 6,152,54] 7,386,408 7,099,293 6,734,894 ],3]5,066 8,239,789 9,599,528 10.81 Q 940 Oro ss valmaton 6,982,355,416 6,753,01,164 6,652,280,453 5,911,759,380 5,]2],810,409 5,321,952,5]] 5,18],31],659 4,823,350,216 4,729,811,810 4, 570, 164,403 Less'. Military exempilon 2,239,068 2,392,784 2,435,380 2,489,088 2,519,836 2,635,396 2,]2],994 2,828,002 2,939,122 3,059,502 Net valmaton 6,980,116,348 6,750,08,380 6,649,845,0]3 5,909,2]0,292 5,]25,230,5]3 5,319,317,181 5,184,589,665 4,820,522,214 4,726,812,688 4,567,104,901 Increm®tel value 133,492,758 142,496,60 89,469,635 115,175,495 853]9,]09 80,577,275 7;660.677 4;30],28] 21,131,574 1q 113,908 Oue and Electric Uilhho. 134,]8{151 126,1]1,2]4 118,583,613 109,124,421 9],050,]16 90.582279 9$ 987,351 8],]20.294 7Q 642915 8],108183 Total Assessed valmaton $ ],248,396,25] $ 7,019,346,321 $ 6,857,898,321 $ 6,133,5]0,208 $ 5,907,660,998 $ 5,494,4]6,]35 $ 5,350,243,693 $ 4,950,55],]95 $ 4,826,61],177 $ 4,668,318,992 Percent Orange 3.263% 2.354% 11.805°/e 3.824% 7 520°/e 2.696%e 8.04% 2.567% 3.392% 1.144% Trouble Valuation Tax Collection Year'. FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 FY2015 FY2014 Assessment Limitation'. Read®ilul rollback 54.1302% 56.4094% 55.0]43% 56.9180% 55.6209% 56.9391% 55.6259% 55.]335% 54.4002% 52.8166% Agriculturist rollback 89.0412% 84.0305% 81.4832% 56.1324% 54.4480°/e 4].4996°/e 46.1068% 44.7021% 4339Sf% 59.9334% Mdti-Residential rollback 63.]5% 6750°/e 71.25% 75.00% 78.]5% 82.50% 86.25°/e NA NA NA Commerow and Railroad rollback 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 95.0% NA IndusMd rollback 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 95.0% NA UiImes rollback 100.0% 98.5% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100 OTC, Readetlld $ 2,841,405,824 $ 2,837,384,852 $ 2,719,569,602 $ 2,490,442,298 $ 2,356,529,643 $ 2,2]4,451,551 $ 2,155,033,296 $ 2,008,493,138 $ 1,894,09,854 $ 1,716,096,066 AgnculNrd(tuxed atAgrate) 1,401,705 1,452,029 1,424,328 1,425,151 1,429,54] 1,618,090 1,706,955 1,588,496 1,597,501 1,591,636 MdH-Residential 343,613,885 360,829,356 382,0]0,966 363,613,829 368,969,925 33],946,106 353,335,851 Commercial 937,999,668 944,990,382 950,525,463 832,628,954 819,505,276 ]34,200,396 ]20,036,8]8 1,016,458,199 1,086,556,293 1,113,600,025 IndusMd 69,541,657 71,990.513 ]].590.824 6Q97A889 60.15;540 60.680.055 65301,535 60.959,765 ]0.120.8]] 0;830.630 Railroads 3,942,320 3,664,971 4,039,622 3,241,213 3,194,473 3,586,439 3,686,919 3,614,022 3,636,130 3,205,451 Utilities viout Oue B Electric 2,719,716 4,2]6,538 6,152,54] 7,386,408 7,099,293 6,734,894 ],3]5,066 8,239,789 9,599,528 10, 81 Q 940 Oro ss valmaton 4,200,684,715 4,224,596,641 4,136,3]9,352 3,]6],]08,]42 3,620,880,697 3,423,225,531 3,306,476,506 3,105,353,409 3,01,598,183 2, 918, 144,748 Less'. Military exempton 2,239,068 2,392,784 2,435,380 2,489,088 2,579,836 2,635,396 2,]2],994 2,828,002 2,939,122 3,059,502 Net valmaton 4,198,445,]0] 4,222,203,857 4,133,943,912 3,765,219,654 3,618,300,861 3,420,590,135 3,303,748,512 3,102,525,407 3,068,659,061 2,915,085,246 Incremental value 133,492,758 131,180,258 60.07],93] 115,175,495 8$379,369 80.559,947 7;650.838 33,331,128 21,131,574 14,113,908 Oue and Electric Uilhho. 4,4017,962 40,59$608 40,150.239 4;719,065 41,797,475 41,]0;196 40.980.783 40.78$426 47,000.994 40.813,214 Ted Taxable Valmaton $ 4,3]5,956,42] $ 4,393,919,723 $ 4,258,178,148 $ 3,923,114,214 $ 3,]45,4]],]05 $ 3,542,852,2]8 $ 3,421,386,133 $ 3,182,641,961 $ 3,136,]95,629 $ 3,03 6,01 2,368 Percent charge .0410% 3.189% 8.541% 4.]43% 5.719% 3.550% 7501% 1.462% 3.320% 2.564% Ted Direct Tax Rate City of Iowa City $ 15.633 $ 15.673 $ 15.]]3 $ 15.833 $ 16.183 $ 16.333 $ 16.583 $ 16.651 $ 16.705 $ 16.805 Soutta: Iowa Department of Mauageuenf, IC Budget Nota: Property is reassessedlnthe odduumberedyearsto make adjustments to all property values, accordingto currommarket values. As public Code ofiowy all red property subjectto taxation shall devalued wits actual value and except as oNer vise provided, shall be reassessed at 100% of its actual value. City of Iowa City, Iowa Property Tax Rates - Direct and Overlapping Governments Last Ten Fiscal Years (per $1,000 assessed valuation) Fiscal Year: 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 Levy Year: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 City: General Fond $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 $ 8.10000 Emergency Lo%y 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.24000 0.24000 0.20000 Debt Service Fond 4.02965 4.12963 3.92833 3.82846 3.57846 3.22846 2.97846 2.57846 2.47846 2.47846 Employee Benefits 3.16331 2.96331 3.11277 3.14415 3.14415 3.34415 3.24415 3.34415 3.34415 3.34415 Capital Improvement 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 Other 1.51226 1.51226 1.50986 1.51044 1.51044 1.51044 1.51044 1.51044 1.51044 1.51044 Total City $ 16.80522 $ 16.70520 $ 16.65096 $ 16.58305 $ 16.33305 $ 16.18305 $ 15.83305 $ 15.77305 $ 15.67305 $ 15.63305 Johns. County $ 6.73712 $ 6.74168 $ 6.90337 $ 6.77140 $ 6.85143 $ 6.53594 $ 6.49278 $ 6.34581 $ 6.16774 $ 6.04075 Iowa City Community School District 13.68792 13.69999 13.86773 13.98935 13.95855 14.85629 14.79097 14.83935 14.85066 14.93382 Kirkwood 1.06473 1.05754 1.06125 1.08048 1.13174 1.20354 1.21331 1.25730 1.31195 1.34462 Other 0.37333 0.32315 0.32784 0.32450 0.33036 0.30557 0.27066 0.33110 0.32744 0.30673 Total Tax Rate $ 38.66832 $ 38.52756 $ 38.81115 $ 38.74878 $ 38.60513 $ 39.08439 $ 38.60077 $ 38.54661 $ 38.33084 $ 38.25897 Source: 'Tax Levies for Johnson County, Iowa," compiled by the Johnson CountyAuditor. Note: Does not include the tax rate for agriculture. Taxpayers in the Iowa City Community School District Area 120 City of Iowa City, Iowa Levies and Collections Last Ten Fiscal Years (Cash basis of accounting) (amounts expressed in thousands) Source: Certificate of City Taxes and Johnson County Treasurer's Office Note: This schedule is presented on a cash basis of accounting. Taxes are collected by the Johnson County Treasurer and submitted to the City in the following month. Because of the month delay, some years will show Current Tax Collections in excess of the Total Tax Levied. 1 Delinquent tax collection is presented by collection year, rather than levy year, because information is not available from Johnson County Treasurer by levy year. 121 Percent of Total as Collection Total Tax Current Tax Levy Delinquent Tax Total Tax a Percent of Year Levied Collections Collected Collections) Collections Levv 2014 50,307 49,835 99.1 1 49,836 99.1 2015 51,609 51,292 99.4 3 51,295 99.4 2016 52,034 52,074 100.1 0 52,074 100.1 2017 55,330 55,331 100.0 0 55,331 100.0 2018 56,458 56,346 99.8 1 56,347 99.8 2019 59,174 59,252 100.1 2 59,254 100.1 2020 60,297 58,971 97.8 1 58,972 97.8 2021 65,849 65,656 99.7 1058 66,714 101.3 2022 66,912 67,075 100.2 29 67,104 100.3 2023 66,474 66,259 99.7 3 66,262 99.7 Source: Certificate of City Taxes and Johnson County Treasurer's Office Note: This schedule is presented on a cash basis of accounting. Taxes are collected by the Johnson County Treasurer and submitted to the City in the following month. Because of the month delay, some years will show Current Tax Collections in excess of the Total Tax Levied. 1 Delinquent tax collection is presented by collection year, rather than levy year, because information is not available from Johnson County Treasurer by levy year. 121 City oflowa City, Iowa Principal Taxpayers Cunerrt Yearand Nine Y®ra Ag o (amounts expressed in thousands) Soa 'City oflowm City Asseaaor's Office, Johnson County Auditors Office 122 2014 2023 % afTmd % of Total Taxable Taxable Taxable Taxable Tealareesttaxoaveri Tvce aflumeas Valuation Rank Valuntian Valuntian Rauk Valuation I&seatl&vcfrontCrossiug Owne LLC Real Estate Developer $ - - N/A $ 30,192 1 0.69% BBCS llaotlu a Housing LLC Real Eatate Marmsent - - N/A 27,489 2 0.63% Mid -American Energy Cuupany Publie Gas and Elabie Utility 44,174 2 1A6% 27,058 3 0.62% ACT Ire (Am College Testing Prgnu) Educamnal Testing Service 46,590 1 1.53% 26,115 4 0.60 % Tailwind Iowa City LLC Real Estate Mangmerrt - - N/A 23,782 5 0.54% 1201 Gilbert LLC Real Estate Mangment - - N/A 23,451 6 0.54% Hollingsworth Capital Par6rers Iowa LLC Real Estate Devdo,xx - - N/A 22,212 9 0.51 Dealer Properties IC LLC (Billion Arm) Car D alershps 19,343 4 0.64% 20,147 8 0.46 % Pradan & Gamble LLC Manufa 4uring Company 15,528 6 0.51% 16,897 9 0.39% Webber -Imus LLC Domestic Limited liability Cornpany - - N/A 15,850 10 0.36% Arm Gcdin Trust (fly Russdl Gerdin) Warehousing 22,321 3 0]4% - - N/A Alpha lnc. industrial 16,227 5 0.53% - - N/A National Computer Syst. (Pearson) Lffo rnation Servicer 13,800 9 0.45% - - N/A United Natural Foods Whelcsalc Distribution Compnry 12,856 8 0.42% - - N/A Southgate Devdopmerd Company Real Estate Devdoper 12,749 9 0.42% - - N/A Wal-Mart Real Estate Retail 12,542 10 0.41% - N/A Total $ 216,130 7.12%6% $ 233,223 5.34 % Soa 'City oflowm City Asseaaor's Office, Johnson County Auditors Office 122 123 Customer Name Proctor & Gamble Veterans Administration Medical Center Tailwind Iowa City LLC formerly Dolphin Lake/Lakeside Manor Ment' Hospital Campus Apartments Dominium IIT Sry formerly Mark IV Apts Graduate Hotel (formerly RBD Iowa City LLC &Sheraton Hotel) Seville Apts Rise at Riverfront Crossing Daknoll Retirement Residence University of Iowa, Mayflower Apt Total Water System Charges Sources: City of Iowa City Revenue Division City of Iowa City, Iowa Larger Water System Customers Current Year and Niue Years Ago 2014 Charges Rank Percentage $ 597,724 1 7.68% 102,726 2 1.32 77,900 3 1.00 61,346 5 0.79 56,351 6 0.72 61,811 4 0.79 34,109 8 0.44 30,381 10 0.39 - - N/A 30,561 9 0.39 40,466 7 0.52 2023 Charges Rank Pereentaee $ 631,864 1 5.66% 178,438 2 1.60 90,586 3 0.81 72,394 4 0.65 70,215 5 0.63 69,225 6 0.62 54,041 7 0.48 50,790 8 0.45 45,440 9 0.41 44,672 10 0.40 $ 1,093,375 14.06% $ 1,307,665 $ 7,778,364 $ 11,172,513 124 N/A N/A City of Iowa City Sales History and Water System Charges Last Ten Fiscal Years Fiscal Water Sales Water System Year Cubic Feet Sold Charg 2014 239,790,719 7,778,364 20151 240,423,612 8,161,522 2016 255,524,943 8,758,683 2017 267,511,531 9,156,005 2018 293,046,636 9,953,510 2019 289,055,329 10,139,587 2020 285,102,926 10,705,168 2021 237,035,139 9,459,987 2022 237,722,261 10,209,841 2023 249,812,176 11,172,513 Sources: City of Iowa City Revenue Department Notes: 'Beginning in March 2015, Water Sales by Cubic Feet Sold also includes unbilled usage. 125 Customer Name University of Iowa Proctor & Gamble Veterans Administration Medical Ceuta Iowa City Landfill Mercy Hospital Tailwind Iowa City LLC formerly Dolphin Lake Graduate Hotel (formerly RBD Iowa City LLC &Sheraton ] Campus Apartments Seville Apts Rise at Riverfront Crossing Dominium IIT Sw formerly Mark IV Apts University of Iowa/Mayflower Apartments Total Sewer System Cbarges Sources: City of Iowa City Revenue Department City of Iowa City, Iowa Larger Sewer System Charges Current Year and Nine Years Ago $ 12,883,641 11KI $ 12,605,172 2014 2023 Charges Rank Percentage Charges Rank Percentage $ 2,033,586 1 16.42 % $ 1,912,495 1 15.17% 1,139,625 2 9.20 763,124 2 6.05 135,545 3 1.09 204,173 3 1.62 127,451 5 1.03 146,184 4 1.16 103,838 6 0.84 100,294 5 0.80 133,843 4 1.08 97,194 6 0.77 59,549 10 0.48 75,750 7 0.60 74,248 8 0.60 74,282 8 0.59 - - N/A 63,005 9 0.50 - - N/A 59,860 10 0.47 89,261 7 0.72 - - N/A 71,122 9 0.57 $ 3.968.068 32.05 % $ 3.496.361 27.73 % $ 12,883,641 11KI $ 12,605,172 City of Iowa City, Iowa Sales History and Sewer System Charges Last Ten Fiscal Years Fiscal Sewer Sales Sewer System Year Cubic Feet Sold Charees 2014 269,494,125 12,382,031 20151 266,830,947 12,278,153 2016 270,547,701 12,022,203 2017 277,712,785 12,404,360 2018 283,246,320 12,524,540 2019 288,537,266 12,822,250 2020 279,106,456 12,503,764 2021 265,605,446 11,819,500 2022 265,503,359 12,407,521 2023 304,100,257 12,605,172 Sources: City of Iowa City Revenue Department Notes: 1Beginning in March 2015, Sewer Sales by Cubic Feet Sold also includes unbilled usage. 127 Fiscal Year 2014 2015 2016 2017 2018 rzaei 2020 Governmental Activities General Obligation Bonds' 64,132,510 59,421,203 55,998,392 52,571,254 52,883,524 53,402,638 55,007,945 Revenue Bonds' 2,616,768 2,618,892 2,491,016 15,168,140 15,035,264 14,902,388 14,764,512 Capital Loan Note 210,784 210,784 210,784 210,784 210,784 210,784 210,784 City of Iowa City, Iowa Ratios of Outstanding Debt by Type Last Ten Fiscal Years Business -Type Activities General Obligation Revenue Bonds' Bonds' Lease 886,157 57,568,517 - 590,000 45,566,903 - 295,000 39,951,661 - 34,420,914 14,482,714 29,095,062 11,958,305 21,155,710 9,413,024 16,786,358 - 2021 56,685,493 12,781,636 210,784 - 12,242,006 2022 56,823,948 11,818,760 210,784 - 7,645,204 2023 56,219,091 10,880,000 210,784 - 3,625,000 Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements. ' Bonds reported net of related premiums and discounts. z Population and personal income information can be found on page 134. 128 Total Percentage Primary of Personal Per Government Income` Capita` 125,414,736 1.62 1,752 108,407,782 1.40 1,475 98,946,853 1.23 1,327 116,853,806 1.34 1,544 109,182,939 1.18 1,442 99,084,544 1.02 1,319 86,769,599 0.86 1,160 81,919,919 0.77 1,098 76,498,696 0.69 1,030 70,934,875 0.61 951 City of Iowa City Iowa Ratios of General Obligation Bonded Debt' to Assessed Value and Net Bonded Debt per Capita Last Ten Fiscal Years (amounts expressed in thousands, except per capita) Notes: ' General Obligation bonds, net of related premiums and discounts. 2 Population data can be found on page 134. 129 Gross General Less: Debt Net General Net Bonded Debt Net Bonded Fiscal Obligation Service Obligation per $1,000 of Debt Year Bonded Debt' Fund Balance Bonded Debt Assessed Value Per Capita' 2014 65,019 6,718 58,301 12.46:1000 814 2015 60,011 3,921 56,090 10.97:1000 764 2016 56,293 6,463 49,830 10.04:1000 671 2017 52,571 7,221 45,350 8.38:1000 599 2018 52,884 8,423 44,461 8.09:1000 587 2019 53,403 9,514 43,889 7.43:1000 584 2020 55,008 9,590 45,418 7.40:1000 607 2021 56,685 7,388 49,297 7.19:1000 661 2022 56,824 7,190 49,634 7.07:1000 669 2023 56,219 7,246 48,973 6.76:1000 657 Notes: ' General Obligation bonds, net of related premiums and discounts. 2 Population data can be found on page 134. 129 Name of Governmental Unit City of Iowa City Iowa City Community School District' Johnson County Clear Creek- Amana Community School District' Kirkwood Comm. College Total Overlapping Debt Total Direct & Overlapping Debt City of Iowa City, Iowa Computation of Direct and Overlapping Debt June 30, 2023 (amounts expressed in thousands, except per capita) Total General Percent Amount Long -Term Applicable Applicable Direct Debt to the City of to the City of Outstandine Iowa City Iowa City 156,815 25,563 75,150 124,495 382,023 $ 449,333 I Long term debt outstanding includes only GO debt. Net direct debt includes premiums & discounts Source: Johnson County Auditor's Office. 100.00 % $ 67310 58.10 91,110 42.40 10,839 0.03 23 14.38 17,902 119,874 $ 187,184 Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Iowa City. This process recognizes that, when considering the City's ability to issue and repay long-term debt, the entire burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government. 130 City of Iowa City, Iowa Legal Debt Margin Informations Last Ten Fiscal Years (amounts expressed in thousands) 1 A reported in the Annual Financial Report to the State Note: Under Iowa code, the city's outstanding general obligation debt should not exceed 5 percent of total assessed property value 131 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Total Assessed Valuation $ 4,668,319 $ 4,826,648 $ 4,950,559 $ 5,350228 $ 5,494,459 $ 5,907,661 $ 6,133,570 $ 6,857,898 $ 7,019,346 $ 7,248,396 Debt Limit 233,416 241,332 247,528 267,511 274,723 295,383 306,679 342,895 350,967 362,420 G.O. Bonds 64,420 59,340 55,350 51,645 51,880 52,470 53,370 53,935 53,935 52,915 TIF Rev. Bonds 2,655 2,655 2,525 15,200 15,065 14,930 14,790 12,805 11,840 10,880 Letters of credit 1,943 2,005 582 663 475 603 - - - - Notes payable 211 211 211 211 211 211 211 211 211 211 Subscription Liability - - - - - - - - 443 317 TIF rebates 170 18,206 13,506 17,356 25,012 27,954 25,877 36,944 33,765 31,784 Total net debt applicable to limit 69,399 82,417 72,174 85,075 92,643 96,168 94,248 103,895 100,194 96,107 Legal debt margin $ 164,017 $ 158,915 $ 175,354 $ 182,436 $ 182,080 $ 199,215 $ 212,431 $ 239,000 $ 250,773 $ 266,313 Total net debt applicable to the limit as a percentage of debt limit 29.73% 34.15% 29.16% 31.80% 33.72% 32.56% 30.73% 30.30% 28.55% 26.52% 1 A reported in the Annual Financial Report to the State Note: Under Iowa code, the city's outstanding general obligation debt should not exceed 5 percent of total assessed property value 131 City of Iowa City, Iowa Schedule of Revenue Bond Coverage Last Ten Fiscal Years (amounts expressed in thousands) Fiscal Year Net Revenue Annual Debt Service' Ended Available for Ratio of Jane 30 Revenue Lxoenses' Debt Service Principal Interest Total Coveraee 2014 5,365 2,969 2,396 530 308 838 2.86 2015' 5,620 3,828 1,792 540 254 794 2.26 2016 - - - - - - - 2017 5,531 3,683 1,848 1,015 86 1,101 1.68 2018 5,812 3,790 2,022 524 576 1,100 1.84 2019 6205 3,724 2,481 545 476 1,021 2.43 20209 4,577 3,476 1,101 567 375 942 1.17 2021 - - - - - - - 2022 - - - - - - - 2023 - - - - - - - 2014 12,835 5,708 7,127 3,250 1,428 4,678 1.52 2015 12,620 6,574 6,046 3,370 1,305 4,675 1.29 2016 12,681 6,513 6,168 3,520 1,175 4,695 1.31 2017 13,383 6,357 7,026 3,625 985 4,610 1.52 2018 13,181 6,622 6,559 3,580 756 4,336 1.51 20199 13,548 6,840 6,708 3,465 539 4,004 1.68 2020 12,917 6,366 6,551 2,510 367 2,877 2.28 2021 12,449 7,874 4,575 2,620 257 2,877 1.59 2022 12,473 7,525 4,948 2,660 153 2,813 1.76 2023 13,069 8,742 4,327 2,085 52 2,137 2.02 Water Revenues 20149 8,613 5,818 2,795 1,335 650 1,985 1.41 2015 8,715 5,632 3,083 1,380 610 1,990 1.55 2016 9,323 5,387 3,936 1,715 579 2294 1.72 2017 9,529 6,332 3,197 1,760 524 2284 1.40 2018 9,838 6,949 2,889 1,455 394 1,849 1.56 2019 10,078 6,888 3,190 1,510 280 1,790 1.78 2020 10,399 6,752 3,647 1,565 238 1,803 2.02 2021 10,048 7,471 2,577 1,630 193 1,823 1.41 2022 10,748 7,006 3,742 1,690 146 1,836 2.04 2023 11,811 7,535 4,276 1,755 97 1,852 2.31 Notes: r Excludes depreciation and interest. 2Includes principal and interest of revenue bonds only. 3 Parking Revenue bonds ratio of Net Revenue Available for Debt Service" to'Total Annual Debt Service" is required to be at least 1.25. 9 Wastewater Treatment Revenue bonds ratio of "Net Revenue Available for Debt Service" to'Total Annual Debt Service" is required to be at least 1.10. 3 Water Revenue bonds ratio of "Net Revenue Available for Debt Service" to'Total Annual Debt Service" is required to be at least 1.10. 9 Refunded Revenue Bonds paid are excluded from the principal of Annual Debt Service. 'Puking Revenue Bonds defeased are excluded from the principal and interest of Annual Debt Service 9 Debt Service excludes the amount called early of $2,670,000. 'Puking Capital Lease called early is excluded from the principal and interest of Annual Debt Service. 132 City of Iowa City, Iowa Schedule of TIF Revenue Bond Coverage Last Ten Fiscal Years (amounts expressed in thousands) Fiscal Taxable Year Valuation Available 2012D TIF 2016E TIF Available Ended Available for TIF Tax Increment Revenue Revenue Debt June 30 Certification (1) Tax Rate (2) Revenues (3) Bonds Bonds Total Coverage 2014 110,797 30.37 3,365 75 - 75 44.66 2015 141,518 29.79 4,215 75 - 75 55.95 2016 156,898 30.49 4,784 205 - 205 23.30 2017 195,411 30.41 5,943 204 273 477 12.45 2018 226,439 30.34 6,870 207 384 591 11.61 2019 297,479 29.66 8,822 205 384 589 14.97 2020 341,736 29.93 10,228 207 384 591 17.31 2021 539,721 30.03 16,208 205 384 589 27.52 2022 620,560 29.99 18,611 - 1,349 1,349 13.80 2023 643,237 30.08 19,349 - 1,315 1,315 14.71 (1) Total taxable valuation available for certification will decrease in fiscal year 2024-25 due to the retirement of the tax increment of the 2001 Amended portion of the Urban Renewal Area (2) The tax increment rate in fiscal year 2013-14 reflects the loss of the local school district's instruction support levy (ISPL) of $.12405 due to recent legislative changes. TIF tax rate does not include the SSMID levy rate of $2.00 per $1,000 of value. Starting in fiscal year 2012-13, a portion of the taxable valuation certified will beat the higher rate due to its location in the SSINM. (3) The available tax increment revenues do not reflect an estimate for the portion of the available valuation that would be taxed at the higher SSMID rate. 133 City of Iowa City, Iowa Demographic and Economic Statistics Last Tea Calendar Years Per Capita Cal®dar Personal Personal Average School Un®ploy.®t Year Poladmi n° Income Income Increase Enrollment Rate' 2014 72,831 7,762,343 47,345 4.46 14,162 3.5 2015 73,497 8,035,139 48,343 2.11 14,495 2.9 2016 74,587 8,296,973 49,461 2.31 15,186 3.2 2017 75,690 8,713,868 51,198 3.51 15,299 3.0 2018 75,696 9,238,484 54,803 7.04 15,334 2.2 2019 75,130 9,681,989 55,518 1.30 15,619 2.4 2020 74,828 10,063,781 57,345 3.29 15,363 8.4 2021 74,596 10,690,422 60,316 5.18 15,636 4.0 2022 75,231 11,526,759 64,399 6.77 15,828 2.5 2023°'0 75,666 12,070,524 67,437 4.72 15,438 2.6 Sources and Notes: Personal Income and Per Capita Personal Income based on metropolitan Iowa City / Comlville and based on figures from Bureau of Economic Analysis. Personal Income expressed in thousands. Iowa City Community School District and local private schools 3Iowa Workforce Development Center 4Iowz Retail Sales & Use Report, Iowa Deparhaent of Revenue and Finance. Fiscal year ending June 30. s Personal Income for 2023 and Per Capita Personal Income for 2023 is not available. Amounts pmjecled based on average increase over previous 5 years. 6 U Census Bureau Population number is not available for 2023. Amounts pmjecled based on an average over previous 9 years Quarter reports were not yet available so amount projected based on average increase over previous 5 years. 134 Retail Sales4 649,794,164 838,853,686 853,258,347 874,928,988 854,538,416 865,628,890 832,475,900 858,860,019 893,575,646 935,729,289 Univasdy fIowa I.aC Cmmmndy S6.1 DiQeik Vdemos Ad mi9ratim Ma1xa1Cmta Proctaand Ga k Mag Hosp�l ACI'Inc.(0 ly Amasan ColbgeTe ,Progrsm) C ofloxa C6y NCS P arsm G wiLofNe Hear d A.. Sy9em Unl An Hy Vee Intanaltion Antoni a Compmeats formerly Lmr Cap Taml Empb} Ioxa C6y Area Devebp�vmt Grmp Vinions Empkyas and do is City of Iowa City, low Prindpal Employers Q mt Yearand Nme Years Ago 135 2014 Emubv Rank Par 30,804 1 311 % 1,]00 2 1 1,562 3 16 - - N/A 1,18] 5 12 1,181 6 12 1,08] 8 11 1,200 4 12 - - N/A 450 - N/A 890 9 09 1,166 ] 12 ]85 10 08 41,562 420% %,900 135 M23 Emobaees Rik Perm ee 21,500 1 253% 2,000 2 21 2,000 3 21 1,300 4 13 1,300 5 13 985 6 10 812 ] 08 800 8 08 638 9 0] 450 10 05 - - N/A N/A 34,785 359% %,]00 Public Safety Police Fire Inspection Services Public Works Public Works Admin Engineering' Flood Recovery Culture and Recreation Parks and Rec Admin Recreation Parks Forestry Cemetery CBD Maintenance Library Senior Center Community and Economic Development Economic Development General Government City Council City Clerk City Attorney City Manager Personnel Human Rights Finance Government Buildings Special Revenue Employee Benefits Community Development Traffic Engineering Streets MPO7C (formerly 7CCOG) Other Shared Revenues Capital Projects Administration' Internal Service Funds Information Technology Equipment Central Services Risk Management Business -Type Activities Parking Mass Transit Wastewater Treatment Water Sanitation Airport Cable Television Stor uwater Housing Authority Total Smarr: City's Financial Plan 136 City of Iowa City, Iowa Full-time Equivalent City Gwernment Employees by Function Last Ten Fiscal Years Full -Time Equivalent Employees as of June 30 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 105 105 105 105 105 107 107 109.26 110.76 110.76 65 64 64 64 64 64 64 64 64 64 13.55 13.55 12.85 13.5 13.5 15.6 15.6 17.6 17.6 16.6 2 2 2 2 2 2 2 2 2 2 12.1 12.1 12 16 16 16 16 18 18 18 0.38 - - - - - - - - - 2 2 2 2 2 2 2 2 2 2 15.42 15.42 14.42 15.42 14.75 14 14.5 14.5 14.5 14.5 13 13 13 16 16 16 16 16 16 16 3 3 3 3 3 5 5 7 7 7 3 3 3 3 3 3 3 3 3 3 3 3 3 - - - - - - - 45.13 45.13 44.77 46.17 46.17 46.17 46.05 45.92 45.92 45.92 6.5 6.5 6.5 7 7 7 7 7.76 7.76 7.76 8.95 8.95 10.8 12.63 13.13 13.13 13.13 12.13 12.13 13.5 1 1 2 1 1 1 1 1 1 1 7 7 7 7 7 7 7 7 7 7 4 4 4 4 4 4 4 4 4 4 5.6 5.6 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 6 6 10.5 10.5 9 9 9 13.89 14.89 15.26 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 23.97 22.47 23.07 23.13 22.13 22.28 22.28 22.28 22.28 22.28 4.83 4.83 5.33 4.33 5 4 5 4 4 4 0.55 0.55 0.55 0.55 0.55 0.55 0.55 0.55 0.55 0.55 2.98 2.98 2.83 - - - - - - - 4.15 4.15 3.9 4.5 3 3 3 3 3 4 25.5 25.5 25.25 25.5 29 29 29 29 29 29 5.6 5.6 4.7 4.7 4.7 5.2 5.2 5.2 5.2 5.2 1.62 - - - - - - - - - 6 5 4 - - - - - - - 9.86 9.86 9.86 9.8 10.8 9.8 9.8 9.8 9.8 10.5 10.75 10.75 10.75 10.75 10.75 10.75 10.75 11.75 12 11 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 26.25 26.25 23.13 21.63 21.63 21.38 19.63 21.38 21.38 21.88 51.25 51.25 51.13 53.63 54.63 53.38 53.38 54.13 54.13 54.63 24.4 24.65 24.65 25.4 26 26 26 26 26 26 31.75 32 32 31.75 31.75 31.75 31.75 31.25 31.25 31.25 35.85 35.85 33.35 31.5 31.5 32.76 34.76 35.26 35.51 36.51 1 1 1 1 1 1 1 1 1 1 6.63 5.63 - - - - - - - - 2.1 2.6 2.6 2.1 1.5 1.5 2.5 2 2 2 12.19 10.19 10.19 9.6 9.6 9.5 9.5 10.62 10.62 11 615.16 607.66 598.93 599.89 601.89 605.55 608.18 624.08 627.08 630.90 r Beginning in FY16, Cable was moved from an Enterprise Fund in the General Fund ' Beginning in FY17, Capital Project Administration was moved to Engineering 136 So.: Various city divisor a. Notes: ' Numbers are baacd on a calendar yearand 2023 year-to-date figures are compiled though 11/15/23 for FIRE and 10/30/23 for Police. 137 City of Iowa City, Iowa Operating Indicators by Function Last Ten Fiscal Years 2015 2018 2019 2021 2023 2014 2016 2017 2020 2022 Public Safety Police' Physical arrests 6,192 5,595 5,465 4,482 4,488 5,212 2,891 2,525 2,998 2,235 Traffic Violations 3,718 3,356 2,989 2,216 3,103 3,422 1,052 1,627 2,708 2,053 Fire' Number of calla answered 5,828 6,016 6,974 6,749 7,122 7,532 6,979 8,106 9,039 8,150 Inapcetions conducted 2,032 1,903 2,459 874 1,031 1,300 181 1,194 1,194 1,250 Parldng Parldng Violations 60,680 65,196 57,549 62,930 50,346 61,330 48,042 45,]2] 69,502 72,491 Wastewater Treatment Daily average hcatnamt in million gallons 10.02 996 10.48 8.32 9.99 10.97 8.58 7.93 7.38 7.80 Maximum daily capacity of plant in million gallons 41.1 43.3 43.3 43.3 43.3 43.3 43.3 43.3 43.3 43.3 Number of sewer at. customers 21,389 21,533 25,085 25,485 26,069 26,270 26,576 26,892 27,021 27,105 Water Daily average consumption in million gallons 5.64 5.33 5.32 5.50 5.84 5.69 5.33 5.57 5.52 5.60 Maximum daily capacity of plant in rmllion gallons 169 169 169 169 169 169 169 169 169 169 Customers by Classification Residential 21,790 23,089 23,638 21,025 21,595 21,818 25,133 25,452 25,588 25,555 Commercial 1,491 1,409 1,415 1,425 1,436 1,431 1,448 1,448 1,442 1,449 Induanial 15 14 14 14 15 15 15 15 15 15 Other 202 135 131 134 136 139 138 137 137 133 Total Customers 26,498 21,64] 25,198 25,598 26,182 26,403 26,]34 27,052 27,182 27,152 Sanitation Number of Customers 15,331 14,811 15,620 15,917 15,960 16,112 16,180 16,330 16,481 16,606 Tonnage 9,160 9,210 9,476 9,623 9,694 8,989 9,682 10,339 10,21] 9,]4] Landfill Tonnage 115,621 123,692 126,875 137,025 140,658 12],58] 128,210 151,823 135,557 132,672 So.: Various city divisor a. Notes: ' Numbers are baacd on a calendar yearand 2023 year-to-date figures are compiled though 11/15/23 for FIRE and 10/30/23 for Police. 137 Public Safety Police Stations Patrol units Fire Stations Fire apparatus Public Works Sheets Miles Sheet lights Culture and Recreafion Library Cemetery Acreage Parks Acreage Recreation Recreation centers Swimming pools Ball diamonds Tennis courts Soccer fields Pickle Ball Courts Futsal Courts Full Basketball Courts Gaga Pits Beer. Court Parking Facilifies Spaces Wastewater Treat cent Miles of sanitary sewer Miles of storm sewer Number of heat cent plants Number of service connectors Water Miles of water mains Number of city owned fire hydrants Sanitation Landfills Acreage Sources: Various rity divisions. 138 City of Iowa City, Iowa Capital Assets by Function Last T. Fiscal Years 2016 2017 2018 2022 2014 2015 2019 2020 2021 2023 1 1 1 1 1 1 1 1 1 1 20 20 20 24 -0 23 23 23 23 23 4 4 4 4 4 4 4 4 4 4 11 11 10 10 10 10 10 10 10 10 279 281 283 286 288 292 293 295 298 299 3,412 3,412 3,412 3,412 3,307 3,166 3,202 3,216 3,227 3,287 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 40 40 40 40 40 40 40 40 40 40 43 46 46 49 50 51 56 56 58 58 1,897 1,897 1,902 1,932 1,942 1,947 1,950 1,980 1,987 1,987 2 2 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 3 3 27 27 27 27 27 27 27 27 27 27 12 12 12 9 9 9 9 9 9 9 20 20 20 20 20 20 20 20 20 21 - - - 8 8 8 8 8 8 8 - - - 2 2 2 2 2 2 2 - - - 3 3 3 6 6 6 6 - - - - 2 2 2 2 2 2 1 1 1 5 5 5 6 6 6 6 6 6 6 3,086 3,086 3,086 3,686 3,686 3,686 3,686 3,686 3,686 3,686 298 300 301 304 306 307 308 310 312 313 131 133 136 139 140 142 144 146 147 148 1 1 1 1 1 1 1 1 1 1 24,175 24,533 25,085 25,485 26,069 26,270 26,576 26,892 27,021 26,995 271 273 275 277 279 281 283 286 288 289 3,385 3,415 3,447 3,503 3,529 3,564 3,611 3,647 3,687 3,717 1 1 1 1 1 1 1 1 1 1 411 418 418 418 418 418 418 418 418 418 138 Compliance Section Tab BBohnsack & Frommelt LLP Certified Public Accountants Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards To the Honorable Mayor and Members of City Council City of Iowa City, Iowa Iowa City, Iowa We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City of Iowa City, Iowa, as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the City's basic financial statements and have issued our report thereon dated December 5, 2023. Our report included an emphasis of matter paragraph for the implementation of Governmental Accounting Standards Board Statement No. 96. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered City of Iowa City, Iowa's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of City of Iowa City, Iowa's internal control. Accordingly, we do not express an opinion on the effectiveness of City of Iowa City, Iowa's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. 139 Compliance and Other Matters As part of obtaining reasonable assurance about whether City of Iowa City, Iowa's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Comments involving statutory and other legal matters about the City's operations for the year ended June 30, 2023 are based exclusively on knowledge obtained from procedures performed during our audit of the financial statements of the City. Since our audit was based on tests and samples, not all transactions that might have had an impact on the comments were necessarily audited. The comments involving statutory and other legal matters are not intended to constitute legal interpretations of those statutes. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City of Iowa City, Iowa's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City of Iowa City, Iowa's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Moline, Illinois December 5, 2023 `EN]] BBohnsack & Frommelt LLP Certified Public Accountants Independent Auditor's Report on Compliance For Each Major Federal Program and On Internal Control Over Compliance Required By the Uniform Guidance To the Honorable Mayor and Members of City Council City of Iowa City, Iowa Iowa City, Iowa Report on Compliance for Each Major Federal Program Opinion on Each Major Federal Program We have audited City of Iowa City, Iowa's (the City) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the City's major federal programs for the year ended June 30, 2023. The City's major federal programs are identified in the summary of auditor's results section of the accompanying Schedule of Findings and Questioned Costs. In our opinion, City of Iowa City, Iowa complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2023. Basis for Opinion on Each Major Federal Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GARS); the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards); and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of the City's compliance with the compliance requirements referred to above. Responsibilities of Management for Compliance Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the City's federal programs. 141 Auditor's Responsibilities for the Audit of Compliance Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City's compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GRAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance iresulting from fraud is higher than for that resulting from error; as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City's compliance with the requirements of each major federal program as a whole. In performing an audit in accordance with GARS, Government Auditing Standards, and the Uniform Guidance, we • exercise professional judgment and maintain professional skepticism throughout the audit, • identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perforin audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the City's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. obtain an understanding of the City's internal control over compliance relevant to the audit in order to deslgn audit procedures that are appropriate In the circumstances and to test and report on intemal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of the City's intern al control over compliance. Accordingly, no such opinion is expressed. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit - Re po rt udit.Report on Internal Control Over Compliance A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, nonoompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of oompIiance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. 142 Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Moline, Illinois December 5, 2023 143 THIS PAGE INTENTIONALLY LEFT BLANK City of Iowa City, Iowa Schedule of Expenditures of Federal Awards Year Ended June 30, 2023 Assistance Pass -Through Total Federal Grantor/Pass-Through Granton Listing Entity Identifying Provided to Federal Program Title or Cluster Title Number Number Subrecipients Expenditures U.S. Department of Agriculture: Indirect: Pass -Through Iowa Department of Natural Resources: Community Forestry Grant Program 10.664 nla $ - $ 5,000 Community Forestry Grant Program 10.664 nla 5,000 Total U.S. Department of Agriculture - 10,000 U.S. Department of Housing and Urban Development Direct: Community Development Block Grants (CDBG)- Entitlement Grants Cluster: CDBGIEntitlement Grants 14.218 8 -20 -MC -19.0009 39,872 246,028 CDBGIEntitlement Grants 14.218 B -20 -MW -19.0009 14,236 14,236 CDBGIEntillement Grants 14.216 8 -21 -MC -19-0009 457,374 604,023 CDBGIEntitlement Grants 14.218 B -22 -MC -19-0009 123,730 293,976 CDBGIEntitlement Grants 14.218 B -23 -MC -19-0009 511 1,329 Subtotal CDBGIEntitlement Grants Cluster 635,723 1,159,592 Home Investment Partnerships Program 14.239 M -18 -MC -190205 26,455 26,455 Home Investment Partnerships Program 14.239 M -19 -MC -190205 372,445 372,445 Home Investment Partnerships Program 14.239 M -20 -MC -190205 273,810 248,548 Home Investment Partnerships Program 14.239 M -21 -MC -190205 195,237 262,993 Home Investment Partnerships Program 14.239 M -21 -MP -190205 - 26,270 Home Investment Partnerships Program 14.239 M -22 -MC -190205 223,949 247,653 Home Investment Partnerships Program 14.239 M -23 -MG -190205 2,762 3,069 1,094,658 1,167,633 Public and Indian Housing 14.850 IA022-00000122D - 129,910 Public and Indian Housing 14.850 IA022-00000123D - 125,477 Public and Indian Housing 14.850 IA022-00000222D - 4,541 259,928 Housing Voucher Program Cluster: Section 8 Housing Choice Vouchers 14.871 IA022EF - 62,951 Section 8 Housing Choice Vouchers 14.871 IA022EH - 437,541 Section B Housing Choice Vouchers 14.871 I1 - 77,384 Section 8 Housing Choice Vouchers 14.871 IA022VO - 10,076,019 - 10,653,695 Mainstream Vouchers 14.879 IA0228FR - 76,157 Mainstream Vouchers 14.879 IA022DV - 394,376 - 470,543 Subtotal Housing Voucher Program Cluster - 11,124,436 Public Housing Capital Fund 14.872 IAO5P022501-22 - 34,873 Family Self -Sufficiency 14.896 FS5221A4192 - 110,050 Indirect: Pass-through Iowa Economic Development Authority, COVID-19 Community Development Block Grants 14.228 20.CVE-005 63,163 Total U.S. Department of Housing and Urban Development 1,730,381 13,939,677 (Continued) 144 City of Iowa City, Iowa Schedule of Expenditures of Federal Awards (Continued) Year Ended June 30, 2023 Federa 16.607 2022BUBX22029447 $ Assistance Pass -Through Total Federal Grantor/Pass-Through Grantor/ Listing Entity Identifying Provided to Federal Program Title or Cluster Title Number Number Subrecipients Expenditures U.S. Department of Justice Direct: Bulletproof Vest Partnership Program 16.607 2022BUBX22029447 $ - $ 37 Bulletproof Vest Partnership Program 16.607 2021BUBX21028127 - 788 3-19-0047-025-2019 - 818 Airport Improvement Program - 825 Equitable Sharing Program 16.922 20.106 - 2,444 Indirect: 20.106 3-19-0047-036-2023 - 11,092 Pass-through Iowa Department of Justice: - 586,922 Federal Transit Cluster: Violence Against Women Formula Grants 16.588 LE -2023-00064 20.507 69,941 Pass-through Iowa Governor's Office of Drug COVID-19 Federal Transit -Formula Grants 20.507 IA -2023-05-00 - 1,250,000 Control Policy: 20.507 IA -2023-009-00 - 2,016,830 Subtotal Federal Transit Cluster Public Safety Partnership and - 4,206,716 Indirect: Community Policing Grants 16.710 21 -CAMP -05 8,405 9,000 Public Safety Partnership and Highway Planning and Construction Program 20.205 BROS-3715(663)--8J-52 - 7,601 Community Policing Grants 16.710 19 -COPS Heroin -03 1,355 1,355 Public Safety Partnership and TAP -U-3715(670)--61-52 - 438,000 Highway Planning and Construction Program 20.205 Community Policing Grants 16-710 22 -COPS Heroin -03 20.205 7,098 - 814,820 Highway Planning and Construction Program 20205 9,760 17,453 Edward Byrne Memorial Justice Assistance Grant 16.738 20 -JAG -447765 63,333 95,000 Total U.S. Department of Justice 73,093 185,663 U.S. Department of Transportation Direct: Airport Improvement Program 20.106 3-19-0047-028-2020 - 850 Airport Improvement Program 20-106 3-19-0047-031-2021 - 134,171 Airport Improvement Program 20.106 3-19-0047-025-2019 - 818 Airport Improvement Program 20.106 3-19-0047-027-2020 - 7,019 Airport Improvement Program 20.106 3-19-0047-034-2022 - 432,972 Airport Improvement Program 20.106 3-19-0047-036-2023 - 11,092 - 586,922 Federal Transit Cluster: COVID-19 Federal Transit -Formula Grants 20.507 IA -2023-016.00 - 939,886 COVID-19 Federal Transit -Formula Grants 20.507 IA -2023-05-00 - 1,250,000 Federal Transit -Formula Grants 20.507 IA -2023-009-00 - 2,016,830 Subtotal Federal Transit Cluster - 4,206,716 Indirect: Pass-through Iowa Department of Transportation: Highway Planning and Construction Program 20.205 BROS-3715(663)--8J-52 - 7,601 Highway Planning and Construction Program 20205 BROS-3715(664)--BJ-52 - 28$,253 Highway Planning and Construction Program 20.205 TAP -U-3715(670)--61-52 - 438,000 Highway Planning and Construction Program 20.205 STP -U-3715(668}-70-52 - 398,872 Highway Planning and Construction Program 20.205 STP -U-3715(666}-70.52 - 814,820 Highway Planning and Construction Program 20205 STP -U-3715(669}-70-52 - 959,265 Pass-through Iowa Department of Transportation and Metropolitan Planning Organization of Johnson County: Highway Planning and Construction Program 20.205 23MPO-MPOJC - 170,336 (Continued) MR 3,072,147 City of Iowa City, Iowa Schedule of Expenditures of Federal Awards (Continued) Year Ended June 30. 2023 Pass-through Iowa Department of Public Safety/ Governor's Traffice Safety Bureau Highway Safety Cluster: State and Community Highway Safety State and Community Highway Safety National Priority Safety Programs National Priority Safety Programs Subtotal Highway Safety Cluster Total U.S. Department of Transportation U.S. Department of the Treasury Direct: COVID-19 Coronavirus State and Local Fiscal Recovery Funds U.S. Department of Homeland Security Indirect: Pass-through Iowa Homeland Security and Emergency Management: Disaster Grants- Public Assistance (Presidentially Declared Disaster) Total Expenditures of Federal Awards See Notes to the Schedule of Expenditures of Federal Awards. 20.600 PAP-23402-MOPT, Tak 1 - 16,317 20.600 PAP-22-402-MOPT, Task 34 - 12,779 - 29,096 20.616 PAP-234054-M60T, Task 00-37-00 - 16,735 20.616 PAP-22-405d-M60T - 10,394 - 27,129 - FF 99fi - 8,175,441 21.027 NIA - 2,519,960 97.936 FEMA DR 4457 -IA - (60,279) $ 1,893,474 $ 24,770,462 Assistance Pass -Through Total Federal GrantonPass-Through Grantor! Listing Entity Identifying Provided to Federal Program Title or Cluster Title Number Number Subrecipients Expenditures U.S. Department of Transportation (Continued) Indirect: Metropolitan Transportation Planning and State and Non - Metropolitan Planning and Research 20.505 23MPO-MPOJC $ - $ 59,664 Pass-through Iowa Department of Transportation: Transit Services Programs Cluster: Enhanced Mobility of Seniors and Individuals with Disabilities 20.513 IA-2023006-01-00-SFY23 - 173,571 Enhanced Mobility of Seniors and Individuals with Disabilities 20.513 IA-2022-010-00-FY22 - 20,196 Subtotal Transit Services Programs Cluster - 193,767 Pass-through Iowa Department of Public Safety/ Governor's Traffice Safety Bureau Highway Safety Cluster: State and Community Highway Safety State and Community Highway Safety National Priority Safety Programs National Priority Safety Programs Subtotal Highway Safety Cluster Total U.S. Department of Transportation U.S. Department of the Treasury Direct: COVID-19 Coronavirus State and Local Fiscal Recovery Funds U.S. Department of Homeland Security Indirect: Pass-through Iowa Homeland Security and Emergency Management: Disaster Grants- Public Assistance (Presidentially Declared Disaster) Total Expenditures of Federal Awards See Notes to the Schedule of Expenditures of Federal Awards. 20.600 PAP-23402-MOPT, Tak 1 - 16,317 20.600 PAP-22-402-MOPT, Task 34 - 12,779 - 29,096 20.616 PAP-234054-M60T, Task 00-37-00 - 16,735 20.616 PAP-22-405d-M60T - 10,394 - 27,129 - FF 99fi - 8,175,441 21.027 NIA - 2,519,960 97.936 FEMA DR 4457 -IA - (60,279) $ 1,893,474 $ 24,770,462 City of Iowa City, Iowa Notes to the Schedule of Expenditures of Federal Awards Year Ended June 30, 2023 Note 1. Basis of Presentation The accompanying schedule of expenditures of federal awards (schedule) includes the federal grant activity of the City under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the entity. Note 2. Summary of Significant Accounting Policies Expenditures reported on the schedule are reported on the modified accrual basis of accounting for governmental funds and accrual basis of accounting for proprietary funds. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Expenditures of federal awards are recognized in the accounting period when the liability is incurred and has met the eligibility criteria of the federal grant. Revenue from federal awards is recognized when the City has done everything necessary to establish its right to the revenue. In the governmental funds, revenue from federal grants is recognized when the revenue is both measurable and available. In proprietary funds, revenue from federal grants is recognized when it is earned. Pass-through entity identifying numbers are presented where available. Note 3. Indirect Cost Rate The City has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. City of Iowa City, Iowa Summary Schedule of Prior Audit Findings Year Ended June 30, 2023 Not applicable. l 1 "'►�`*� CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240-1826 (319) 356-5000 (319) 356-5009 FAX www.icgov.org Corrective Action Plan or Findings Status Other Explanation MR]] THIS PAGE INTENTIONALLY LEFT BLANK City of Iowa City, Iowa Schedule of Findings and Questioned Costs Year Ended June 30, 2023 I. Summary of the Independent Auditors Results Financial Statements Type of auditor's report issued: Unmodified Internal control over financial reporting: • Material weakness(es) identified? ❑ Yes 0 No • Significant deficiency identified? ❑ Yes 0 None Reported • Noncompliance material to financial statements noted? ❑ Yes D No Federal Awards Internal control over major programs: • Material weakness(es) identified? ❑ Yes i] No • Significant deficiency identified? ❑ Yes p None Reported Type of auditor's report issued on compliance for major programs: Unmodified • Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)? ❑ Yes 0 No Identification of major programs: Federal Assistance Listina Number Name of Federal Proaram or Cluster 14.239 Home Investment Partnerships Program 20.205 Highway Planning and Construction Program 21.027 COVID-19 Coronavirus State and Local Fiscal Recovery Funds Community Development Block Grants (CDBG)lEntitlement Grants Cluster: 14.218 CDBGlEntitlement Grants Dollar threshold used to distinguish between type A and type B programs: $750,000 Auditee qualified as low-risk auditee? 0 Yes ❑ No (Continued) Mill City of Iowa City, Iowa Schedule of Findings and Questioned Costs (Continued) Year Ended June 30, 2023 II. Findings Relating to the Basic Financial Statements as Required to be Reported in Accordance with Generally Accepted Government Auditing Standards A. Internal Control No matters reported. B. Instances of Noncompliance No matters reported. Ill. Findings and Questioned Costs for Federal Awards A. Internal Control for Federal Awards No matters reported. B. Instances of Noncompliance No matters reported. IV. Other Findings Related to Required Statutory Reporting IV -A-23 Certified Budget — Expenditures for the year ended June 30, 2023 did not exceed the amounts budgeted. IV -B-23 Questionable Expenditures — No expenditures were noted that we believe may not meet the requirements of public purpose as defined in an Attorney General's opinion dated April 25, 1979. IV -C-23 Travel Expenses — No expenditures of City money for travel expenses of spouses of City officials or employees were noted. IV -D-23 Business Transactions — No business transactions between the City and City officials or employees were noted except the following. Official Transaction Description Amount Bruce Teague, Mayor Owner Charm Homes LLC Landlord Rents $20,402 The transactions do not appear to represent a conflict of interest in accordance with Chapter 362.5(3)(g) of the Code of Iowa. IV -E-23 Restricted Donor Activity— No transactions were noted between City, City officials, City employees and restricted donors in compliance with Chapter 68B of the Code of Iowa. IV -F-23 Bond Coverage — Surety bond coverage of City officials and employees is in accordance with statutory provisions. The amount of coverage should be reviewed annually to ensure that the coverage is adequate for current operations. IV -G-23 Council Minutes — No transactions requiring Council approval which had not been approved by the Council were noted. IV -1-1-23 Deposits and Investments — No instances of noncompliance with the deposit and investment provisions of Chapter 12B and Chapter 12C of the Code of Iowa and the City's investment policy were noted. (Continued) 150 City of Iowa City, Iowa Schedule of Findings and Questioned Costs (Continued) Year Ended June 30, 2023 IV -1.23 Revenue Notes — There were no instances of noncompliance with revenue note provisions. IV -J-23 Annual Urban Renewal Report— The annual urban renewal report was properly approved and certified to the Iowa Department of Management on or before December 1. IV -K-23 Payment of General Obligation Bonds — The City appears to be in compliance with Chapter 384.4 of the Code of Iowa. 151 THIS PAGE INTENTIONALLY LEFT BLANK City of Iowa City, Iowa Corrective Action Plan Year Ended June 30, 2023 Not applicable. l 1 "'►�`*� CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240-1826 (319) 356-5000 (319) 356-5009 FAX www.icgov.org Anticipated Date of Completion and Responsible Findings Corrective Action Plan Contact Person 06% 153 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 APPENDIX B DESCRIBING BOOK -ENTRY -ONLY ISSUANCE The Depository Trust Company, New York, New York ("DTC"), will act as securities depository for the Bonds (the "Securities'). The Securities will be issued as fully registered securities registered in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully registered Security certificate will be issued for each issue of the Securities, each in the aggregate principal amount of such issue, and will be deposited with DTC. 1. DTC, the world's largest securities depository, is a limited -purpose trust company organized under the New York Banking Law, a "banking organization" within the meaning of the New York Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non -U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC's participants ("Direct Participants') deposit with DTC. DTC also facilitates the post -trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book -entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non -U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly owned subsidiary of The Depository Trust & Clearing Corporation ("DTCC'). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non -U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). DTC has an S&P Global Ratings rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com. 2. Purchases of Securities under the DTC system must be made by or through Direct Participants, which will receive a credit for the Securities on DTC's records. The ownership interest of each actual purchaser of each Security (`Beneficial Owner') is in turn to be recorded on the Direct and Indirect Participants' records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Securities, except in the event that use of the book -entry system for the Securities is discontinued. 3. To facilitate subsequent transfers, all Securities deposited by Direct Participants with DTC are registered in the name of DTC's partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Securities with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not affect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Securities; DTC's records reflect only the identity of the Direct Participants to whose accounts such Securities are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. C City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 4. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Securities may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Securities, such as redemptions, tenders, defaults, and proposed amendments to the Security documents. For example, Beneficial Owners of Securities may wish to ascertain that the nominee holding the Securities for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the Registrar and request that copies of notices be provided directly to them. 5. Redemption notices shall be sent to DTC. If less than all of the Securities within an issue are being redeemed, DTC's practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. 6. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Securities unless authorized by a Direct Participant in accordance with DTC's MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the City as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose accounts Securities are credited on the record date (identified in a listing attached to the Omnibus Proxy). 7. Redemption proceeds, distributions, and dividend payments on the Securities will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC's practice is to credit Direct Participants' accounts upon DTC's receipt of finds and corresponding detail information from the City or the Paying Agent, on payable date in accordance with their respective holdings shown on DTC's records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in "street name," and will be the responsibility of such Participant and not of DTC, the Paying Agent, or the City, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the City or the Paying Agent, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. 8. A Beneficial Owner shall give notice to elect to have its Securities purchased or tendered, through its Participant, to any Tender/Remarketing Agent, and shall effect delivery of such Securities by causing the Direct Participant to transfer the Participant's interest in the Securities, on DTC's records, to any Tender/Remarketing Agent. The requirement for physical delivery of Securities in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Securities are transferred by Direct Participants on DTC's records and followed by a book - entry credit of tendered Securities to any Tender/Remarketing Agent's DTC account. 9. DTC may discontinue providing its services as depository with respect to the Securities at any time by giving reasonable notice to the City or the Paying Agent. Under such circumstances, in the event that a successor depository is not obtained, Security certificates are required to be printed and delivered. 10. The City may decide to discontinue use of the system of book -entry -only transfers through DTC (or a successor securities depository). In that event, Security certificates will be printed and delivered to DTC. 11. The information in this section concerning DTC and DTC's book -entry system has been obtained from sources that the City believes to be reliable, but the City takes no responsibility for the accuracy thereof. UM City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 APPENDIX C DRAFT FORM OF BOND COUNSEL OPINION Ahlers & Cooney, P.C. A H L E R S C O O N E Y Attorneys at Law 100 Court Avenue, Suite 600 A T T R N E Y E. Des Moines, Iowa 50309-2231 Phone: 515-243-7611 Fax: 515-243-2149 www.ahlerslaw.com FC: We hereby certify that we have examined a certified transcript of the proceedings of the City Council and acts of administrative officers of the City of Iowa City, State of Iowa (the "Issuer"), relating to the issuance of General Obligation Bonds, Series 2024, by said City, dated , 2024, in the denomination of $5,000 or multiples thereof, in the aggregate amount of $ (the 'Bonds"). We have examined the law and such certified proceedings and other papers as we deem necessary to render this opinion as bond counsel. As to questions of fact material to our opinion, we have relied upon representations of the Issuer contained in the resolution authorizing issuance of the Bonds (the 'Resolution") and in the certified proceedings and other certifications of public officials furnished to us, without undertaking to verify the same by independent investigation. Based on our examination and in reliance upon the certified proceedings and other certifications described above, we are of the opinion, under existing law, as follows: 1. The Issuer is duly created and validly existing as a body corporate and politic and political subdivision of the State of Iowa with the corporate power to adopt and perform the Resolution and issue the Bonds. 2. The Bonds are valid and binding general obligations of the Issuer. 3. All taxable property in the territory of the Issuer is subject to ad valorem taxation without limitation as to rate or amount to pay the Bonds. Taxes have been levied by the Resolution for the payment of the Bonds and the Issuer is required by law to include in its annual tax levy the principal and interest coming due on the Bonds to the extent the necessary funds are not provided from other sources. 4. Interest on the Bonds is excludable from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals; however, such interest is taken into account in determining the annual adjusted financial statement income of applicable corporations (as defined in Section 59(k) of the Code) for the purpose of computing the alternative minimum tax imposed on corporations for tax years beginning after December 31, 2022. The opinion set forth in the preceding sentence is subject to the condition that the Issuer comply with all requirements of the Internal Revenue Code of 1986, as amended, that must be satisfied subsequent to the issuance of the Bonds in order that the interest thereon be, and continue to be, excludable from gross income for federal income tax purposes. The Issuer has covenanted to comply with all such requirements. Failure to comply with certain of such requirements may cause interest on the Bonds to be included in gross income for federal income tax purposes retroactively to the date of issuance of the Bonds. W shard & Baily— 1888, Guernsey & Baily — 1893, Baily & Stipp — 1901, Stipp, Perry, Bannister & Starzinger— 1914, Bannister, Carpenter, Ahlers & Cow ey — 1950, Ahlers, Cooney, Domeiler, Allbee, Haynie & Smith — 1974, Ahlers, Cooney, Domeiler, Haynie, Smith & Allbee, P.C. — 1990 DRAFT City of Iowa City, State of Iowa General Obligation Bonds, Series 2024 Page 2 We express no opinion regarding the accuracy, adequacy, or completeness of the Official Statement or other offering material relating to the Bonds. Further, we express no opinion regarding tax consequences arising with respect to the Bonds other than as expressly set forth herein. The rights of the owners of the Bonds and the enforceability of the Bonds are limited by bankruptcy, insolvency, reorganization, moratorium, and other similar laws affecting creditors' rights generally, and by equitable principles, whether considered at law or in equity. This opinion is given as of the date hereof, and we assume no obligation to revise or supplement this opinion to reflect any facts or circumstances that may hereafter come to our attention, or any changes in law that may hereafter occur. Respectfully submitted, \\Capµ02329490\10714-144 City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 APPENDIX D DRAFT CONTINUING DISCLOSURE CERTIFICATE DRAFT CONTINUING DISCLOSURE CERTIFICATE This Continuing Disclosure Certificate (the 'Disclosure Certificate") is executed and delivered by the City of Iowa City, State of Iowa (the "Issuer"), in connection with the issuance of $ General Obligation Bonds, Series 2024 (the 'Bonds") dated 2024. The Bonds are being issued pursuant to a Resolution of the Issuer approved on 2024 (the 'Resolution"). The Issuer covenants and agrees as follows: Section 1. Pumose of the Disclosure Certificate_ Intermetation. This Disclosure Certificate is being executed and delivered by the Issuer for the benefit of the Holders and Beneficial Owners of the Bonds and in order to assist the Participating Underwriters in complying with S.E.C. Rule 15c2 -12(b)(5). This Disclosure Certificate shall be governed by, construed and interpreted in accordance with the Rule, and, to the extent not in conflict with the Rule, the laws of the State. Nothing herein shall be interpreted to require more than required by the Rule. Section 2. Definitions. In addition to the definitions set forth in the Resolution, which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: "Annual Financial Information" shall mean financial information or operating data of the type included in the final Official Statement, provided at least annually by the Issuer pursuant to, and as described in, Sections 3 and 4 of this Disclosure Certificate. "Beneficial Owner" shall mean any person which (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as the owner of any Bonds for federal income tax purposes. "Business Day" shall mean a day other than a Saturday or a Sunday or a day on which banks in Iowa are authorized or required by law to close. "Dissemination Agent" shall mean the Issuer or any Dissemination Agent designated in writing by the Issuer and which has filed with the Issuer a written acceptance of such designation. "Financial Obligation" shall mean a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with S.E.C. Rule 15c2-12. "Holders" shall mean the registered holders of the Bonds, as recorded in the registration books of the Registrar. "Listed Events" shall mean any of the events listed in Section 5(a) of this Disclosure Certificate. "Municipal Securities Rulemaking Board" or "MSRB" shall mean the Municipal Securities Rulemaking Board, 1300 I Street NW, Suite 1000, Washington, DC 20005. "National Repository" shall mean the MSRB's Electronic Municipal Market Access website, a/k/a "EMMA" (emma.msrb.org). "Official Statement" shall mean the Issuer's Official Statement for the Bonds, dated 2024. "Participating Underwriter" shall mean any of the original underwriters of the Bonds required to comply with the Rule in connection with offering of the Bonds. "Rule" shall mean Rule 15c2-12 adopted by the Securities and Exchange Commission (S.E.C.) under the Securities Exchange Act of 1934, and any guidance and procedures thereunder published by the S.E.C., as the same may be amended from time to time. "State" shall mean the State of Iowa. Section 3. Provision of Annual Financial Information. a) The Issuer shall, or shall cause the Dissemination Agent to, not later than two hundred ten (210) days after the end of the Issuer's fiscal year (presently June 30th), commencing with information for the 2023/2024 fiscal year, provide to the National Repository an Annual Financial Information filing consistent with the requirements of Section 4 of this Disclosure Certificate. The Annual Financial Information filing must be submitted in such format as is required by the MSRB (currently in "searchable PDF" format). The Annual Financial Information filing may be submitted as a single document or as separate documents comprising a package. The Annual Financial Information filing may cross-reference other information as provided in Section 4 of this Disclosure Certificate; provided that the audited financial statements of the Issuer may be submitted separately from the balance of the Annual Financial Information filing and later than the date required above for the filing of the Annual Financial Information if they are not available by that date. If the Issuer's fiscal year changes, it shall give notice of such change in the same manner as for a Listed Event under Section 5(c). b) If the Issuer is unable to provide to the National Repository the Annual Financial Information by the date required in subsection (a), the Issuer shall send a notice to the Municipal Securities Rulemaking Board, if any, in substantially the form attached as Exhibit A. c) The Dissemination Agent shall: i. each year file Annual Financial Information with the National Repository; and ii. (if the Dissemination Agent is other than the Issuer), file a report with the Issuer certifying that the Annual Financial Information has been filed pursuant to this Disclosure Certificate, stating the date it was filed. Section 4. Content of Annual Financial Information. The Issuer's Annual Financial Information filing shall contain or incorporate by reference the following: a) The last available audited financial statements of the Issuer for the prior fiscal year, prepared in accordance with generally accepted accounting principles promulgated by the Financial Accounting Standards Board as modified in accordance with the governmental accounting standards promulgated by the Governmental Accounting Standards Board or as otherwise provided under State law, as in effect from time to time, or, if and to the extent such financial statements have not been prepared in accordance with generally accepted accounting principles, noting the discrepancies therefrom and the effect thereof. If the Issuer's audited financial statements for the preceding years are not available by the time Annual Financial Information is required to be filed pursuant to Section 3(a), the Annual Financial Information filing shall contain unaudited financial statements of the type included in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Financial Information when they become available. b) A table, schedule or other information prepared as of the end of the preceding fiscal year, of the type contained in the final Official Statement under the captions: • Debt Limit. • Direct Debt. • General Obligation Debt. • Statement of Bonded Indebtedness. • Other Obligations. • Percentages for Taxable Valuation After Rollbacks. • Building Permits. • Property Valuations and Trend of Valuations -Actual (100%) Valuations for the City. • Property Valuations and Trend of Valuations -Taxable ("Rollback") Valuations for the City. • Levies and Tax Collections. • Larger Taxpayers. • Tax Rates. • Statement of Net Position -Governmental Activities. • Statement of Activities -Governmental Activities. • Balance Sheet -General Fund. • Statement of Revenues, Expenditures and Changes in Fund Balance -General Fund. Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the Issuer or related public entities, which have been filed with the National Repository. The Issuer shall clearly identify each such other document so included by reference. Section 5. Reporting of Significant Events. a) Pursuant to the provisions of this Section, the Issuer shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds in a timely manner not later than 10 Business Days after the day of the occurrence of the event: i. Principal and interest payment delinquencies; ii. Non-payment related defaults, if material; iii. Unscheduled draws on debt service reserves reflecting financial difficulties; iv. Unscheduled draws on credit enhancements relating to the Bonds reflecting financial difficulties; v. Substitution of credit or liquidity providers, or their failure to perform; vi. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax-exempt status of the Series Bonds, or material events affecting the tax-exempt status of the Bonds; vii. Modifications to rights of Holders of the Bonds, if material; viii. Bond calls (excluding sinking fund mandatory redemptions), if material, and tender offers; ix. Defeasances of the Bonds; x. Release, substitution, or sale of property securing repayment of the Bonds, if material; xi. Rating changes on the Bonds; xii. Bankruptcy, insolvency, receivership or similar event of the Issuer; xiii. The consummation of a merger, consolidation, or acquisition involving the Issuer or the sale of all or substantially all of the assets of the Issuer, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; xiv. Appointment of a successor or additional trustee or the change of name of a trustee, if material; xv. Incurrence of a Financial Obligation of the Issuer, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the Issuer, any of which affect security holders, if material; and xvi. Default, event of acceleration, termination event, modification of terms or other similar events under the terms of a Financial Obligation of the Issuer, any of which reflect financial difficulties. b) Whenever the Issuer obtains the knowledge of the occurrence of a Listed Event, the Issuer shall determine if the occurrence is subject to notice only if material, and if so shall as soon as possible determine if such event would be material under applicable federal securities laws. c) If the Issuer determines that knowledge of the occurrence of a Listed Event is not subject to materiality, or determines such occurrence is subject to materiality and would be material under applicable federal securities laws, the Issuer shall promptly, but not later than 10 Business Days after the occurrence of the event, file a notice of such occurrence with the Municipal Securities Rulemaking Board through the filing with the National Repository. Section 6. Termination of Reporting Obligation. The Issuer's obligations under this Disclosure Certificate with respect to each Series of Bonds shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds of that Series or upon the Issuer's receipt of an opinion of nationally recognized bond counsel to the effect that, because of legislative action or final judicial action or administrative actions or proceedings, the failure of the Issuer to comply with the terms hereof will not cause Participating Underwriters to be in violation of the Rule or other applicable requirements of the Securities Exchange Act of 1934, as amended. Section 7. Dissemination Agent. The Issuer may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate, and may discharge any such Agent, with or without appointing a successor Dissemination Agent. The Dissemination Agent shall not be responsible in any manner for the content of any notice or report prepared by the Issuer pursuant to this Disclosure Certificate. The initial Dissemination Agent shall be the Issuer. Section 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Certificate, the Issuer may amend this Disclosure Certificate, and any provision of this Disclosure Certificate may be waived, provided that the following conditions are satisfied: a) If the amendment or waiver relates to the provisions of Section 3(a), 4, or 5(a), it may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature or status of an obligated person with respect to the Bonds, or the type of business conducted; b) The undertaking, as amended or taking into account such waiver, would, in the opinion of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of the original issuance of the Bonds, after taking into account any amendments or interpretations of the Rule, as well as any change in circumstances; and c) The amendment or waiver either (i) is approved by the Holders of the Bonds in the same manner as provided in the Resolution for amendments to the Resolution with the consent of Holders, or (ii) does not, in the opinion of nationally recognized bond counsel, materially impair the interests of the Holders or Beneficial Owners of the Bonds. In the event of any amendment or waiver of a provision of this Disclosure Certificate, the Issuer shall describe such amendment in the next Annual Financial Information filing, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type (or in the case of a change of accounting principles, on the presentation) of financial information or operating data being presented by the Issuer. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, (i) notice of such change shall be given in the same manner as for a Listed Event under Section 5(c), and (ii) the Annual Financial Information filing for the year in which the change is made will present a comparison or other discussion in narrative form (and also, if feasible, in quantitative form) describing or illustrating the material differences between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. Section 9. Additional Information. Nothing in this Disclosure Certificate shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in any Annual Financial Information filing or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Certificate. If the Issuer chooses to include any information in any Annual Financial Information filing or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Certificate, the Issuer shall have no obligation under this Certificate to update such information or include it in any future Annual Financial Information filing or notice of occurrence of a Listed Event. Section 10. Default. In the event of a failure of the Issuer to comply with any provision of this Disclosure Certificate, any Holder or Beneficial Owner of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Issuer to comply with its obligations under this Disclosure Certificate. Direct, indirect, consequential and punitive damages shall not be recoverable by any person for any default hereunder and are hereby waived to the extent permitted by law. A default under this Disclosure Certificate shall not be deemed an event of default under the Resolution, and the sole remedy under this Disclosure Certificate in the event of any failure of the Issuer to comply with this Disclosure Certificate shall be an action to compel performance. Section 11. Duties, Immunities and Liabilities of Dissemination Agent. The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Certificate, and the Issuer agrees to indemnify and save the Dissemination Agent, its officers, directors, employees and agents, harmless against any loss, expense and liabilities which it may incur arising out of or in the exercise or performance of its powers and duties hereunder, including the costs and expenses (including attorneys' fees) of defending against any claim of liability, but excluding liabilities due to the Dissemination Agent's negligence or willful misconduct. The obligations of the Issuer under this Section shall survive resignation or removal of the Dissemination Agent and payment of the Bonds. Section 12. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of the Issuer, the Dissemination Agent, the Participating Underwriters and Holders and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. Section 13. Rescission Rights. The Issuer hereby reserves the right to rescind this Disclosure Certificate without the consent of the Holders in the event the Rule is repealed by the S.E.C. or is ruled invalid by a federal court and the time to appeal from such decision has expired. In the event of a partial repeal or invalidation of the Rule, the Issuer hereby reserves the right to rescind those provisions of this Disclosure Certificate that were required by those parts of the Rule that are so repealed or invalidated. Date: day of 12024. CITY OF IOWA CITY, STATE OF IOWA IC ATTEST: City Clerk Mayor EXHIBIT A NOTICE TO NATIONAL REPOSITORY OF FAILURE TO FILE ANNUAL FINANCIAL INFORMATION Name of Issuer: City of Iowa City, Iowa. Name of Bond Issue: $ General Obligation Bonds, Series 2024 Dated Date of Issue: 2024 NOTICE IS HEREBY GIVEN that the Issuer has not provided Annual Financial Information with respect to the above-named Bonds as required by Section 3 of the Continuing Disclosure Certificate delivered by the Issuer in connection with the Bonds. The Issuer anticipates that the Annual Financial Information will be filed by Dated: day of 120 CITY OF IOWA CITY, STATE OF IOWA By: Its: 02329494\10714-144 OFFICIAL BID FORM City of Iowa City 410 E. Washington Street Iowa City, IA 52240 City Council: May 7, 2024 Speer Financial, Inc. Facsimile: (319) 291-8628 For the $10,140,000* General Obligation Bonds, Series 2024 (the "Bonds"), of the City of Iowa City, Johnson County, Iowa (the "City"), as described in the annexed Official Terms of Offering, which is expressly made a part of this bid, we will pay you $ (no less than $10,058,880). The Bonds are to bear interest at the following respective rates (each a multiple of 1/8 or 1/100 of 10/o) for the Bonds of each designated maturity. AMOUNTS' AND MATURITIES — JUNE 1 $2,000,000.........2025 % $905,000............2028 L ess Premium/Plus Di scount % $905,000............2032 % 905,000 ......... 2026 % 905,000 ............ 2029 % 905,000 ............ 2033 % 905,000 ......... 2027 % 905,000 ............ 2030 % 900,000 ............ 2034 % 905,000 ............ 2031 % Any comecuffre n,amames may be aggregated into term Lands at the option ofthe bidder, to which case the mandatory redemption prorisions shall be on the same schedule as above. Maturities: Terni Maturity Maturities: Term Maturity Maturities: Terni MaturityMaturities: Term Maturity *Subject to principal adjustment in accordance with the Official Terms ofOffeii'ng. In submitting this bid, we represent that (i) this bid constitutes a firm offer to purchase the Bonds, and (ii) we have an established industry reputation for underwriting new issuances of municipal bonds and notes. The Bonds are to be executed and delivered to us in accordance with the terms of this bid accompanied by the approving legal opinion of Ahlers & Cooney, P.C., Des Moines, Iowa. The City will pay for the legal opinion. The Purchaser agrees to pay the fee charged by the CU SIP Service Bureau and will accept the Bonds with the CU SIP numbers as entered on the Bonds. As evidence of our good faith, if we are the winning bidder, we will wire transfer the amount of TWO PERCENT OF PAR (the "Deposit') WITHIN TWO HOURS after the bid opening time to the City's good faith bank and under the terms provided in the Official Terms of Offering for the Bonds. Alternatively, we have wire transferred or enclosed herewith a check payable to the City in the amount of the Deposit under the terms provided in the Official Terms of Offering for the Bonds. Attached hereto is a list of members of our account on whose behalf this bid is made. Form of Deposit (Check On Account Manamc Informadon Bidders Option Insurance Prior to Bid Opening: Certified/Cashier's Check Wire Transfer Underwriter/Bank [ ] Address Within TWO Homs of Bid Opening: Wire Transfer I Amount: $202,800 Authorized Rep City Direct Phone !_ FAX Number I E -Mail Address We have purchased insurance from: Name of Insurer (Please./rf int Premium: Maturities: (Check One) L-1 1 t—] All The foregoing bid was accepted and the Bonds sold by Resolution of the City on May 7, 2024, and receipt is hereby acknowledged of the good faith Deposit which is being held in accordance with the terms of the annexed Official Terms of Offering. ATTEST: CITY OF IOWA CITY City Clerk JOHNSON COUNTY, IOWA Mayor —NOT PART OF THE BID— — — (Calculahon oftrue interest cost) Gross Interest $ L ess Premium/Plus Di scount $ True Interest Cost $ True Interest Rate % TOTAL BOND YEARS 50,735.50 AVERAGE LIFE 5.004 Years City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 OFFICIAL TERMS OF OFFERING $10,140,000" CITY OF IOWA CITY Johnson County, Iowa General Obligation Bonds, Series 2024 The City of Iowa City, Johnson County, Iowa, (the "City"), will receive electronic bids on the SpeerAuction ("SpeerAuction") website address "www.SpeerAuction.com" for its $10,140,000* General Obligation Bonds, Series 2024 (the `Bonds"), on an all or none basis between 10:30 A.M. and 11:00 A.M., C.D.T., Tuesday, May 7, 2024. To bid electronically, bidders must have: (1) completed the registration form on the SpeerAuction website, and (2) requested and received admission to the City's sale (as described below). The City will also receive sealed bids for the Bonds, on an all or none basis, at the office of the Finance Director, City Hall, 410 E. Washington, Iowa City, Iowa, before 11:00 A.M., C.D.T., Tuesday, May 7, 2024. The City will also receive facsimile bids at (319) 291-8628 or (319) 341-4008 for the Bonds, on an all or none basis, before 11:00 A.M., C.D.T., Tuesday, May 7, 2024. Upon receipt, facsimile bids will be sealed and treated as sealed bids, and along with all other sealed bids will be publicly opened and, together with any electronic bids, read. Award will be made or all bids rejected at a meeting of the City on that date. The City reserves the right to reject all bids, to reject any bid proposal not conforming to this Official Terms of Offering, and to waive any irregularity or informality with respect to any bid. Additionally, the City reserves the right to modify or amend this Official Terms of Offering; however, any such modification or amendment shall not be made less than twenty-four (24) hours prior to the date and time for receipt of bids on the Bonds and any such modification or amendment will be announced on the Amendments Page of the SpeerAuction webpage and through Thomson Municipal News. The Bonds will constitute valid and legally binding obligations of the City payable both as to principal and interest from ad valorem taxes levied against all taxable, real property within the corporate limits of the City without limitation as to rate or amount, all except as limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to the enforcement of creditors' rights generally and except that enforcement by equitable and similar remedies, such as mandamus, is subject to the exercise of judicial discretion. *ADJUSTMENTS TO PRINCIPAL AMOUNT AFTER DETERMINATION OF BEST BID. The aggregate principal amount ofthe Bonds, and each scheduled maturity thereof, are subject to increase or reduction by the City or its designee after the determination ofthe Winning Bidder. The City may increase or decrease each maturity in increments of$5,000, but the total amount to be issued will not exceed $10,200, 000. Interest rates specifiedby the Winning Bidderfor each maturity will not change. Final adjustments shall be in the sole discretion ofthe City. The dollar amount ofthepumhase pricepmposed by the Winning Bidder will be changed ifthe aggregate principal amount ofthe Bonds is adjusted as described above. Any change in the principal amount of any maturity of the Bonds will be made while maintaining, as closely as possible, the Winning Bidder's net compensation, calculated as a percentage ofbond principal. The Winning Bidder may not withdraw or modem its bid as a result ofany post -bid adjustment. Any adjustment shall be conclusive, and shall be binding upon the Winning Bidder. Establishment of Issue Price (a) The winning bidder shall assist the City in establishing the issue price of the Bonds and shall execute and deliver to the City at closing an "issue price" or similar certificate setting forth the reasonably expected initial offering price to the Public or the sales price or prices of the Bonds, together with the supporting pricing wires or equivalent communications, substantially in the form attached hereto as Exhibit A to this Official Terms of Offering, with such modifications as may be appropriate or necessary, in the reasonable judgment of the winning bidder, the City and Ahlers & Cooney, P.C. ("Bond Counsel'). All actions to be taken by the City under this Official Terms of Offering to establish the issue price of the Bonds may be taken on behalf of the City by the City's municipal advisor and any notice or report to be provided to the City may be provided to Speer Financial, Inc., Chicago, Illinois ("Speer'). City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 (b) The City intends that the provisions of Treasury Regulation Section 1.148-1(t)(3)(i) (defining "competitive sale" for purposes of establishing the issue price of the Bonds) will apply to the initial sale of the Bonds (the "competitive sale requirements') because: (i) the City shall disseminate this Official Terms of Offering to potential Underwriters in a manner that is reasonably designed to reach potential Underwriters; (ii) all bidders shall have an equal opportunity to bid; (iii) the City may receive bids from at least three Underwriters of municipal bonds who have established industry reputations for underwriting new issuances of municipal bonds; and (iv) the City anticipates awarding the sale of the Bonds to the bidder who submits a firm offer to purchase the Bonds at the lowest true interest cost, as set forth in this Official Terms of Offering. Any bid submitted pursuant to this Official Terms of Offering shall be considered a firm offer for the purchase of the Bonds, as specked in the bid. (c) In the event that the competitive sale requirements are not satisfied, the City shall so advise the winning bidder. The City will not require bidders to comply with the "hold -the -offering -price rule" and therefore does not intend to use the initial offering price to the Public as of the Sale Date of any maturity of the Bonds as the issue price of that maturity, though the winning bidder may elect to apply the "hold the offering price rule" (as described below). Bids will not be subject to cancellation in the event that the competitive sale requirements are not satisfied. Unless a bidder intends to apply the "hold -the -offering -price rule" as described below, bidders should prepare their bids on the assumption that all of the maturities of the Bonds will be subject to the 10% test (as described below) in order to establish the issue price of the Bonds. If the competitive sale requirements are not satisfied, the 10% test shall apply to determine the issue price of each maturity of the Bonds unless the winning bidder shall request that the "hold -the -offering -price rule" (as described below) shall apply. The winning bidder must notify Speer of its intention to apply the "hold -the -offering -price rule" at or prior to the time the Bonds are awarded. (i) If the winning bidder does not request that the "hold -the -offering -price rule" apply to determine the issue price of the Bonds, the following two paragraphs shall apply: The City shall treat the first price at which 10% of a maturity of the Bonds (the "10% test') is sold to the Public as the issue price of that maturity, applied on a maturity -by -maturity basis. The winning bidder shall advise the City if any maturity of the Bonds satisfies the 10% test as of the date and time of the award of the Bonds. Until the 10% test has been satisfied as to each maturity of the Bonds, the winning bidder agrees to promptly report to the City the prices at which the unsold Bonds of that maturity have been sold to the Public. That reporting obligation shall continue, whether or not the closing date has occurred, until the 10% test has been satisfied as to the Bonds of that maturity or until all Bonds of that maturity have been sold to the Public. In addition, if the 10% test has not been satisfied with respect to any maturity of the Bonds prior to closing, then the purchaser shall provide the City with a representation as to the price of prices, as of the date of closing, at which the purchaser reasonably expects to sell the remaining Bonds of such maturity. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 (ii) If the winning bidder does request that the "hold -the -offering -price rule" apply to determine the issue price of the Bonds, the following three paragraphs shall apply: The City may determine to treat (i) pursuant to the 10% test, the first price at which 10% of a maturity of the Bonds is sold to the Public as the issue price of that maturity and/or (ii) the initial offering price to the Public as of the Sale Date of any maturity of the Bonds as the issue price of that maturity (the "hold -the -offering - price rule'), in each case applied on a maturity -by -maturity basis. The winning bidder shall advise the City if any maturity of the Bonds satisfies the 10% test as of the date and time of the award of the Bonds. The City shall promptly advise the winning bidder, at or before the time of award of the Bonds, which maturities of the Bonds shall be subject to the 10% test or shall be subject to the hold -the - offering -price rule or both. Bids will not be subject to cancellation in the event that the City determines to apply the hold -the -offering -price rule to any maturity of the Bonds. By submitting a bid, the winning bidder shall (i) confirm that the Underwriters have offered or will offer the Bonds to the Public on or before the date of award at the offering price or prices (the "initial offering price'), and (ii) agree, on behalf of the Underwriters participating in the purchase of the Bonds, that the Underwriters will neither offer nor sell unsold Bonds of any maturity to which the hold -the -offering -price rule shall apply to any person at a price that is higher than the initial offering price to the Public during the period starting on the Sale Date and ending on the earlier of the following: (1) the close of the fifth business day after the Sale Date; or (2) the date on which the Underwriters have sold at least 10% of that maturity of the Bonds to the Public at a price that is no higher than the initial offering price to the Public. The City acknowledges that, in making the representation set forth above, the winning bidder will rely on (i) the agreement of each Underwriter to comply with the hold -the -offering -price rule, as set forth in an agreement among Underwriters and the related pricing wires, (ii) in the event a selling group has been created in connection with the initial sale of the Bonds to the Public, the agreement of each dealer who is a member of the selling group to comply with the hold -the -offering - price rule, as set forth in a selling group agreement and the related pricing wires, and (iii) in the event that an Underwriter is a party to a retail distribution agreement that was employed in connection with the initial sale of the Bonds to the Public, the agreement of each broker-dealer that is a party to such agreement to comply with the hold -the -offering -price rule, as set forth in the retail distribution agreement and the related pricing wires. The City further acknowledges that each Underwriter shall be solely liable for its failure to comply with its agreement regarding the hold -the -offering -price rule and that no Underwriter shall be liable for the failure of any other Underwriter, or of any dealer who is a member of a selling group, or of any broker-dealer that is a party to a retail distribution agreement to comply with its corresponding agreement regarding the hold -the - offering -price applicable to the Bonds. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 (d) By submitting a bid, each bidder confirms that: (i) any agreement among Underwriters, any selling group agreement and each retail distribution agreement (to which the bidder is a party) relating to the initial sale of the Bonds to the Public, together with the related pricing wires, contains or will contain language obligating each Underwriter, each dealer who is a member of the selling group, and each broker-dealer that is a party to such retail distribution agreement, as applicable, to (a) report the prices at which it sells to the Public the unsold Bonds of each maturity allotted to it until it is notified by the winning bidder that either the 10% test has been satisfied as to the Bonds of that maturity or all Bonds of that maturity have been sold to the Public and (b) comply with the hold -the -offering -price rule, if applicable, in each case if and for so long as directed by the winning bidder and as set forth in the related pricing wires which shall be at least until the 10% test has been satisfied as to the Bonds of that maturity or until the close of the fifth business day following the date of the award, and (ii) any agreement among Underwriters relating to the initial sale of the Bonds to the Public, together with the related pricing wires, contains or will contain language obligating each Underwriter that is a party to a retail distribution agreement to be employed in connection with the initial sale of the Bonds to the Public to require each broker-dealer that is a party to such retail distribution agreement to (a) report the prices at which it sells to the Public the unsold Bonds of each maturity allotted to it until it is notified by the winning bidder or such Underwriter that either the 10% test has been satisfied as to the Bonds of that maturity or all Bonds of that maturity have been sold to the Public and (b) comply with the hold -the -offering -price rule, if applicable, in each case if and for so long as directed by the winning bidder or such Underwriter and as set forth in the related pricing wires, which shall be at least until the 10% test has been satisfied as to the Bonds of that maturity or until the close of the fifth business day following the date of the award. (e) Sales of any Bonds to any person that is a Related Party to an Underwriter shall not constitute sales to the Public for purposes of this Official Terms of Offering. Further, for purposes of this Official Terms of Offering: (i) "Public' means any person other than an Underwriter or a Related Party, (ii) "Underwriter" means (A) any person that agrees pursuant to a written contract with the City (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the public including, specifically, the purchaser, and (b) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (A) to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public), (iii) a purchaser of any of the Bonds is a "Related Party" to an Underwriter if the Underwriter and the purchaser are subject, directly or indirectly, to (i) at least 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct ownership by one corporation of another), (ii) more than 50% common ownership of their capital interests or profits interests, if both entities are partnerships (including direct ownership by one partnership of another), or (iii) more than 50% common ownership of the value of the outstanding stock of the corporation or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other), and (iv) "Sale Date" means the date that the Bonds are awarded by the City to the winning bidder. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 Bond Details The Bonds will be in fully registered form in the denominations of $5,000 and integral multiples thereof in the name of Cede & Co. as nominee of The Depository Trust Company ("DTC"), New York, New York, to which principal and interest payments on the Bonds will be paid. Individual purchases will be in book -entry form only. Interest on each Bond shall be paid by check or draft of the Bond Registrar to the person in whose name such Bond is registered at the close of business on the fifteenth day of the month next preceding an interest payment date on such bond. The principal of the Bonds shall be payable in lawful money of the United States of America at the principal office maintained for the purpose by the Bond Registrar in St. Paul, Minnesota. Semiannual interest is due June 1 and December 1 of each year, commencing December 1, 2024 and is payable by U.S. Bank Trust Company, National Association, St. Paul, Minnesota (the "Bond Registrar"). The Bonds are dated the date of delivery (expected to be on or about June 4, 2024). $2,000,000 2025 905,000 2026 905,000 2027 AMOUNTS" AND MATURITIES —JUNE 1 $905,000 2028 905,000 2029 905,000 2030 905,000 ........................2031 $905,000 2032 905,000 2033 900,000 2034 Any consecutive maturities may be aggregated into term bonds at the option of the bidder, in which case the mandatory redemption provisions shall be on the same schedule as above. The Bonds due June 1, 2025 - 2031, inclusive, are non -callable. The Bonds due June 1, 2032 - 2034, inclusive, are callable in whole or in part and on any date on or after June 1, 2031, at a price of par and accrued interest. If less than all the Bonds are called, they shall be redeemed in any order of maturity as determined by the City and within any maturity by lot. Method of Bidding Electronically Notwithstanding the fact that the City permits receiving bids electronically using SpeerAuction, all bidders must have a signed, but uncompleted, Official Bid Form delivered to Speer Financial, Inc., Suite 608, 531 Commercial Street, Waterloo, Iowa, (319) 291-8628 facsimile, prior to the close of bidding to which a printout of the electronic bid will be attached and delivered to the City. If bidding electronically, all -or -none bids must be submitted via the internet address www.SpeerAuction.com. The use of SpeerAuction shall be at the bidder's risk and expense and the City shall have no liability with respect thereto, including (without limitation) liability with respect to incomplete, late arriving and non -arriving bids. To bid via the SpeerAuction webpage, bidders must fust visit the SpeerAuction webpage where, if they have not previously registered with either SpeerAuction, Grant Street Group (the "Auction Administrator") or any other website administered by the Auction Administrator, they may register and then request admission to bid on the Bonds. Bidders will be noted prior to the scheduled bidding time of their eligibility to bid. Only registered broker-dealers and dealer banks with DTC clearing arrangements will be eligible to bid electronically. The "Rules" of the SpeerAuction bidding process may be viewed on the SpeerAuction webpage and are incorporated herein by reference. Bidders must comply with the Rules of SpeerAuction in addition to the requirements of the City's Official Terms of Offering. In the event the Rules of SpeerAuction and this Official Terms of Offering conflict, this Official Terms of Offering shall be controlling. All electronic bids must be submitted on the SpeerAuction webpage. Electronic bidders may change and submit bids as many times as they choose during the sale period but may not delete a submitted bid. The last bid submitted by an electronic bidder before the deadline for receipt of bids will be compared to all other final bids to determine the winning bidder. During the bidding, no bidder will see any other bidder's bid nor the status of their bid relative to other bids (e.g., whether their bid is a leading bid). The electronic bidder bears all risk of transmission failure. Any questions regarding bidding on the SpeerAuction website should be directed to Grant Street Group at (412) 391-5555 x 370. City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 Each bidder shall be solely responsible for making necessary arrangements to access SpeerAuction for purposes of submitting its intemet bid in a timely manner and in compliance with the requirements of the Terms of Offering. The City is permitting bidders to use the services of the SpeerAuction solely as a communication mechanism to conduct the internet bidding and the SpeerAuction is not an agent of the City. Provisions of the Terms of Offering and Official Bid Form shall control in the event of conflict with information provided by the Internet Bid System. Electronic Facsimile Bidding: Bids may be submitted via facsimile at (319) 291-8628 or (319) 341-4008. Electronic facsimile bids will be sealed and treated as sealed bids. Neither the City nor its agents will assume liability for the inability of the bidder to reach the above named fax numbers prior to the time of sale specified above. Transmissions received after the deadline will be rejected. Bidders electing to submit bids via facsimile transmission bear full and complete responsibility for the transmission of such bid. Neither the City nor its agents will assume responsibility for the inability of the bidder to reach the above specified fax number prior to the time of sale. Time of receipt shall be the time recorded by the person receiving the facsimile and shall be conclusive. Bidding Parameters and Award of the Bonds All interest rates must be in multiples of one-eighth or one one-hundredth of one percent (1/8 or 1/100 of 10/o), and not more than one rate for a single maturity shall be specified. The differential between the highest rate bid and the lowest rate bid shall not exceed three percent (3%). All bids must be for all of the Bonds and must be for not less than $10,058,880. Award of the Bonds: The Bonds will be awarded on the basis of true interest cost, determined in the following manner. True interest cost shall be computed by determining the annual interest rate (compounded semi-annually) necessary to discount the debt service payments on the Bonds from the payment dates thereof to the dated date and to the bid price. For the purpose of calculating true interest cost, the Bonds shall be deemed to become due in the principal amounts and at the times set forth in the table of maturities set forth above. In the event two or more qualifying bids produce the identical lowest true interest cost, the winning bid shall be the bid that was submitted fust in time on the SpeerAuction webpage or if all such bids are not submitted electronically, the winning bid shall be determined by lot. The Bonds will be awarded to the bidder complying with the terms of this Official Terms of Offering whose bid produces the lowest true interest cost rate to the City as determined by the City's Registered Municipal Advisor, which determination shall be conclusive and binding on all bidders; provided, that the City reserves the right to reject all bids or any non -conforming bid and reserves the right to waive any informality in any bid. Electronic bidders should verify the accuracy of their final bids and compare them to the winning bids reported on the SpeerAuction Observation Page immediately after the bidding. The premium or discount, if any, is subject to pro rata adjustment if the maturity amounts of the Bonds are changed, maintaining, as close as possible, the same dollar amount of profit per $1,000 bond as bid. The true interest cost of each electronic bid will be computed by SpeerAuction and reported on the Observation Page of the SpeerAuction webpage immediately following the date and time for receipt of bids. These true interest costs are subject to verification by the City's Municipal Advisor, will be posted for information purposes only and will not signify an actual award of any bid or an official declaration of the winning bid. The City or its Municipal Advisor will notify the bidder to whom the Bonds will be awarded, if and when such award is made. The winning bidder will be required to make the standard filings and maintain the appropriate records routinely required pursuant to MSRB Rules G-8, G-11 and G-36. The winning bidder will be required to pay the standard MSRB charge for Bonds purchased. In addition, the winning bidder who is a member of the Securities Industry and Financial Markets Association ("SIFMA") will be required to pay SIFMA's standard charge per Bond. City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 The winning bidder is required to a wire transfer from a solvent bank or trust company to the City's good faith bank the amount of TWO PERCENT OF PAR (the "Deposit') WITHIN TWO HOURS after the bid opening time as evidence of the good faith of the bidder. Alternatively, a bidder may submit its Deposit upon or prior to the submission of its bid in the form of a certified or cashier's check on, or a wire transfer from, a solvent bank or trust company for TWO PERCENT OF PAR payable to the Treasurer of the City. The City reserves the right to award the Bonds to a winning bidder whose wire transfer is initiated but not received within such two hour time period provided that such winning bidder's federal wire reference number has been received. In the event the Deposit is not received as provided above, the City may award the Bonds to the bidder submitting the next best bid provided such bidder agrees to such award. If a wire transfer is used for the Deposit, it must be sent according to the following wire instructions: Amalgamated Bank of Chicago Corporate Trust 30 North LaSalle Street 38' Floor Chicago, IL 60602 ABA # 071003405 Credit To: 3281 Speer Bidding Escrow RE: City of Iowa City, Johnson County, Iowa bid for $10,140,000* General Obligation Bonds, Series 2024 If the wire shall arrive in such account prior to the date and time of the sale of the Bonds. Contemporaneously with such wire transfer, the prospective purchaser shall send an email to biddingescrow@aboc.com with the following information: (1) indication that a wire transfer has been made, (2) the amount of the wire transfer, (3) the issue to which it applies, and (4) the return wire instructions if such prospective purchaser is not awarded the Bonds. The City and any prospective purchaser who chooses to wire the Deposit hereby agree irrevocably that Speer Financial, Inc. ("Speer") shall be the escrow holder of the Deposit wired to such account subject only to these conditions and duties: (i) if the bid is not accepted, Speer shall, at its expense, promptly return the Deposit amount to the unsuccessful prospective purchaser; (ii) if the bid is accepted, the Deposit shall be forwarded to the City, (iii) Speer shall bear all costs of maintaining the escrow account and returning the funds to the prospective purchaser; (iv) Speer shall not be an insurer of the Deposit amount and shall have no liability except if it willfully fails to perform, or recklessly disregards, its duties specified herein; and (v) income earned on the Deposit, if any, shall be retained by Speer. The City covenants and agrees to enter into a written agreement, certificate or contract, constituting an undertaking (the "Undertaking') to provide ongoing disclosure about the City for the benefit of the beneficial owners of the Bonds on or before the date of delivery of the Bonds as required under Section (b)(5) of Rule 15c2-12 (the "Rule') adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934. The Undertaking shall be as described in the Official Statement, with such changes as may be agreed in writing by the Underwriter. The Underwriter's obligation to purchase the Bonds shall be conditioned upon the City delivering the Undertaking on or before the date of delivery of the Bonds. The Bonds will be delivered to the successful purchaser against full payment in immediately available fiords as soon as they can be prepared and executed, which is expected to be on or about June 4, 2024. Should delivery be delayed beyond sixty (60) days from the date of sale for any reason beyond the control of the City except failure of performance by the purchaser, the City may cancel the award or the purchaser may withdraw the good faith deposit and thereafter the purchaser's interest in and liability for the Bonds will cease. City oflowa City, Johnson County, Iowa $10,140,000- General Obligation Bonds, Series 2024 The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts, and interest rates of the Bonds, and any other information required by law or deemed appropriate by the City, shall constitute a "Final Official Statement" of the City with respect to the Bonds, as that term is defined in the Rule. By awarding the Bonds to any underwriter or underwriting syndicate, the City agrees that, no more than seven (7) business days after the date of such award, it shall provide, without cost to the senior managing underwriter of the syndicate to which the Bonds are awarded, up to 50 copies of the Final Official Statement to permit each "Participating Underwriter" (as that term is defined in the Rule) to comply with the provisions of such Rule. The City shall treat the senior managing underwriter of the syndicate to which the Bonds are awarded as its designated agent for purposes of distributing copies of the Final Official Statement to each Participating Underwriter. Any underwriter executing and delivering an Official Bid Form with respect to the Bonds agrees thereby that if its bid is accepted by the City it shall enter into a contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement. By submission of its bid, the senior managing underwriter of the successful purchaser agrees to supply all necessary pricing information and any Participating Underwriter identification necessary to complete the Official Statement within 24 hours after award of the Bonds. Additional copies of the Final Official Statement may be obtained by Participating Underwriters from the printer at cost. The City will, at its expense, deliver the Bonds to the purchaser in New York, New York (or arrange for "FAST" delivery) through the facilities of DTC and will pay for the bond attorney's opinion. At the time of closing, the City will also furnish to the purchaser the following documents, each dated as of the date of delivery of the Bonds: (1) the legal opinion of Ahlers & Cooney, P.C., Des Moines, Iowa, that the Bonds are lawful and enforceable obligations of the City in accordance with their terms; (2) the opinion of said attorneys that the interest on the Bonds is exempt from federal income taxes as and to the extent set forth in the Official Statement for the Bonds; and (3) a no litigation certificate by the City. Purchaser consents to the receipt of electronic transcripts and acknowledges the City's intended use of electronically executed documents. Iowa Code Chapter 554D establishes electronic signatures have the full weight and legal authority as manual signatures. The City has authorized the printing and distribution of an Official Statement containing pertinent information relative to the City and the Bonds. Copies of such Official Statement or additional information may be obtained from Nicole Davies, Finance Director, City of Iowa City, 410 E. Washington Street, Iowa City, Iowa, 52240 or an electronic copy of this Official Statement is available from the www.speerfmancial.com website under "Official Statement Sales/Competitive Calendar" or from the Registered Municipal Advisor to the City, Speer Financial, Inc., 531 Commercial Street, Suite 608, Waterloo, Iowa 50701 (telephone (319) 291-2077), and 230 West Monroe Street, Suite 2630, Chicago, Illinois 60606 (telephone (312) 346-3700). /s/ NICOLE DAVIES Finance Director CITY OF IOWA CITY Johnson County, Iowa City oflowa City, Johnson County, Iowa $10,140,000- Geneml Obligation Bonds, Series 2024 EXHIBIT A EXAMPLE ISSUE PRICE CERTHTCATE USE FOR COMPETITIVE SALES — 3 BIDS RECEIVED IMM11,11 $ General Obligation Bonds, Series 2024 of Iowa City, Iowa Issue Price Certificate The undersigned, on behalf of [NAME OF UNDERWRITER] ("Purchaser"), hereby certifies as set forth below with respect to the sale of the above -captioned obligations (the `Bonds'). 1. Reasonably Expected Initial Offering Price. (a) As of the Sale Date, the reasonably expected initial offering prices of the Bonds to the Public by Purchaser are the prices listed in Schedule A (the "Expected Offering Prices"). The Expected Offering Prices are the prices for the Maturities of the Bonds used by Purchaser in formulating its bid to purchase the Bonds. Attached as Schedule B is a true and correct copy of the bid provided by Purchaser to purchase the Bonds. (b) Purchaser was not given the opportunity to review other bids prior to submitting its bid. (c) The bid submitted by Purchaser constituted a firm offer to purchase the Bonds. 2. Defined Terms. (a) Maturity means Bonds with the same credit and payment terms. Bonds with different maturity dates, or Bonds with the same maturity date but different stated interest rates, are treated as separate Maturities. (b) Public means any person (including an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party to an Underwriter. The term `related party" for purposes of this certificate generally means any two or more persons who have greater than 50 percent common ownership, directly or indirectly. (c) Sale Date means the first day on which there is a binding contract in writing for the sale of a Maturity of the Bonds. The Sale Date of the Bonds is May 7, 2024. (d) Underwriter means (i) the Purchaser or any person that agrees pursuant to a written contract with the Issuer (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public). The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents Purchaser's interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the foregoing information will be relied upon by the Issuer and its agents with respect to certain of the representations set forth in the Tax Exemption Certificate and with respect to compliance with the federal income tax rules affecting the Bonds, and by Ahlers & Cooney, P.C. in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038-G, and other federal income tax advice that it may give to the Issuer from time to time relating to the Bonds. [UNDERWRITER] Dated: [ISSUE DATE] SCHEDULE A EXPECTED OFFERING PRICES (Attached SCHEDULE B COPY OF UNDERWRITER'S BID (Attached USE FOR GENERAL RULE 10°/m PUBLIC SALE IMM11.11II:\ $ General Obligation Bonds, Series 2024 of Iowa City, Iowa ISSUE PRICE CERTIFICATE The undersigned, on behalf of [NAME OF UNDERWRITER] ("Purchaser"), on behalf of itself, hereby certifies as set forth below with respect to the sale and issuance of the above -captioned obligations (the `Bonds"). 1. Sale of the Bonds. As of the date of this certificate, for each Maturity of the Bonds, the first price at which at least 10% of such Maturity of the Bonds was sold to the Public is the respective price listed in Schedule A. 2. Defined Terms. (a) Issuer means the Iowa City, Iowa, a municipal corporation in the State of Iowa. (b) Maturity means Bonds with the same credit and payment terms. Bonds with different maturity dates, or Bonds with the same maturity date but different stated interest rates, are treated as separate Maturities. (c) Public means any person (including an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party to an Underwriter. The term `related party" for purposes of this certificate generally means any two or more persons who have greater than 50 percent common ownership, directly or indirectly. (d) Underwriter means (i) the Purchaser or any person that agrees pursuant to a written contract with the Issuer (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public). The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents Purchaser's interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the foregoing information will be relied upon by the Issuer and its agents with respect to certain of the representations set forth in the Tax Exemption Certificate and with respect to compliance with the federal income tax rules affecting the Bonds, and by Ahlers & Cooney, P.C., as Bond Counsel, in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038-G, and other federal income tax advice that it may give to the Issuer from time to time relating to the Bonds. [Signature Page Follows] [UNDERWRITER] By: Name: Dated: [ISSUE DATE] SCHEDULE A SALE PRICES (Attached [USE IF SOME MATURITIES SUBJECT TO HOLD THE PRICE, OTHERS 10% RULE] IMM11.11II:\ $ General Obligation Bonds, Series 2024 of Iowa City, Iowa ISSUE PRICE CERTIFICATE The undersigned, on behalf of [NAME OF UNDERWRITER] ("Purchaser"), on behalf of itself, hereby certifies as set forth below with respect to the sale and issuance of the above -captioned obligations (the `Bonds"). 1. Sale of the General Rule Maturities. As of the date of this certificate, for each Maturity of the General Rule Maturities, the first price at which at least 10% of such Maturity was sold to the Public is the respective price listed in Schedule A. 2. Initial Offering Price of the Hold -the -Offering -Price Maturities. (a) Purchaser offered the Hold -the -Offering -Price Maturities to the Public for purchase at the respective initial offering prices listed in Schedule A (the "Initial Offering Prices") on or before the Sale Date. A copy of the pricing wire or equivalent communication for the Bonds is attached to this certificate as Schedule B. (b) As set forth in the Notice of Sale and bid award, Purchaser has agreed in writing that, (i) for each Maturity of the Hold -the -Offering -Price Maturities, it would neither offer nor sell any of the Bonds of such Maturity to any person at a price that is higher than the Initial Offering Price for such Maturity during the Holding Period for such Maturity (the "hold -the -offering -price rule"), and (ii) any selling group agreement shall contain the agreement of each dealer who is a member of the selling group, and any retail distribution agreement shall contain the agreement of each broker-dealer who is a party to the retail distribution agreement, to comply with the hold -the -offering -price rule. Pursuant to such agreement, no Underwriter (as defined below) has offered or sold any Maturity of the Hold -the -Offering -Price Maturities at a price that is higher than the respective Initial Offering Price for that Maturity of the Bonds during the Holding Period. 3. Defined Terms. (a) General Rule Maturities means those Maturities of the Bonds listed in Schedule A hereto as the "General Rule Maturities." (b) Hold -the -Offering -Price Maturities means those Maturities of the Bonds listed in Schedule A hereto as the "Hold -the -Offering -Price Maturities." (c) Holding Period means, with respect to a Hold -the -Offering -Price Maturity, the period starting on the Sale Date and ending on the earlier of (i) the close of the fifth business day after the Sale Date (May 14, 2024), or (ii) the date on which Purchaser has sold at least 10% of such Hold -the -Offering - Price Maturity to the Public at prices that are no higher than the Initial Offering Price for such Hold -the - Offering -Price Maturity. (d) Issuer means the City of Iowa City, Iowa, a municipal corporation in the State of Iowa. (e) Maturity means Bonds with the same credit and payment terms. Bonds with different maturity dates, or Bonds with the same maturity date but different stated interest rates, are treated as separate maturities. (f) Public means any person (including an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party to an Underwriter. The term `related party" for purposes of this certificate generally means any two or more persons who have greater than 50 percent common ownership, directly or indirectly. (g) Sale Date means the fust day on which there is a binding contract in writing for the sale of a Maturity of the Bonds. The Sale Date of the Bonds is May 7, 2024. (h) Underwriter means (i) the Purchaser or any person that agrees pursuant to a written contract with the Issuer (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bonds to the Public). The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents the Purchaser's interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the foregoing information will be relied upon by the Issuer and its agents with respect to certain of the representations set forth in the Tax Exemption Certificate and with respect to compliance with the federal income tax rules affecting the Bonds, and by Ahlers & Cooney, P.C., Bond Counsel, in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038-G, and other federal income tax advice that it may give to the Issuer from time to time relating to the Bonds. IU L4101"ami tiIIaNI By: Name: Dated: [ISSUE DATE] SCHEDULE A SALE PRICES OF THE GENERAL RULE MATURITIES AND INITIAL OFFERING PRICES OF THE HOLD -THE -OFFERING -PRICE MATURITIES (Attached SCHEDULE B PRICING WIRE OR EQUIVALENT COMMUNICATION 02182249-1\10714-143 M Items to Include on Agenda for April 16, 2024 City of Iowa City, Iowa $10,140,000* (Dollar Amount Subject to Change) General Obligation Bonds, Series 2024 Resolution directing the advertisement for sale and approving electronic bidding procedures and Distribution of Preliminary Official Statement. Notice Must Be Given Pursuant to Iowa Code Chapter 21 and the Local Rules of the City. The City Council of the City of Iowa City, State of Iowa, met in rPg„ i ar session, in Council Chambers, at Emma J. Harvat Hall, 410 E. Washington St., Iowa City, Iowa, at 6:00 P .M., on the above date. There were present Mayor Teague in the chair, and the following named Council Members: Alter, Bergus, Dunn, Harmsen, Moe, Salih, Teague Absent: Vacant: Council Member Moe introduced the following Resolution entitled "Resolution Directing the Advertisement for Sale of $10,140,000* (Dollar Amount Subject to Change) General Obligation Bonds, Series 2024, and Approving Electronic Bidding Procedures and Distribution of Preliminary Official Statement" and moved its adoption. Council Member Alter seconded the Resolution to adopt. The roll was called and the vote was, AYES: Alter, Bergus, Dunn, Harmsen, Moe, Salih, Teague NAYS: None Whereupon, the Mayor declared the resolution duly adopted as follows: Resolution No. 24-98 Resolution Directing the Advertisement for Sale of $10,140,000* (Dollar Amount Subject to Change) General Obligation Bonds, Series 2024, and Approving Electronic Bidding Procedures and Distribution of Preliminary Official Statement Whereas, the Issuer is in need of funds to pay costs of the opening, widening, extending, grading and drainage of the right-of-way of streets, highways, avenues, alleys, and public grounds; the construction, reconstruction, and repairing of any street and streetscape improvements, including the replacement or planting of trees in public areas, related utility work, traffic control devices, lighting, trails, sidewalks, and the acquisition of real estate for such purposes; the acquisition, construction, reconstruction, enlargement, improvement, and repair of bridges, culverts, retaining walls, viaducts, underpasses, grade crossing separations, and approaches thereto; and the rehabilitation and improvement of parks already owned, including facilities, equipment and improvements commonly found in city parks, essential corporate purpose(s), and it is deemed necessary and advisable that General Obligation Bonds, to the amount of not to exceed $9,300,000 be authorized for said purpose(s); and Whereas, pursuant to notice published as required by Section 384.25 of the Code of Iowa, this Council has held a public meeting and hearing upon the proposal to institute proceedings for the issuance of the Bonds, and the Council is therefore now authorized to proceed with the issuance of said Bonds for such purpose(s); and Whereas, the City is in need of funds to pay costs of the acquisition, reconstruction, redevelopment, improvement and equipping of recreation buildings and centers, swimming pools and City Hall, general corporate purpose(s), and it is deemed necessary and advisable that General Obligation Bonds, to the amount of not to exceed $700,000 be authorized for said purpose(s); and Whereas, the Issuer has a population of more than 5,000 but not more than 75,000, and the Bonds for these purposes do not exceed $700,000; and Whereas, pursuant to notice published as required by Section 384.26 of the Code of Iowa, the Council of the City has held public meeting and hearing upon the proposal to institute proceedings for the issuance of Bonds for general corporate purpose(s) in the amounts as above set forth, and, no petition for referendum having been received, the Council is therefore now authorized to proceed with the issuance of said Bonds for such purpose(s); and Whereas, the City is in need of funds to pay costs of the acquisition, reconstruction, improvement and equipping of fire stations, general corporate purpose(s), and it is deemed necessary and advisable that General Obligation Bonds, to the amount of not to exceed $200,000 be authorized for said purpose(s); and Whereas, the Issuer has a population of more than 5,000 but not more than 75,000, and the Bonds for these purposes do not exceed $700,000; and Whereas, pursuant to notice published as required by Section 384.26 of the Code of Iowa, the Council of the City has held public meeting and hearing upon the proposal to institute proceedings for the issuance of Bonds for general corporate purpose(s) in the amounts as above set forth, and, no petition for referendum having been received, the Council is therefore now authorized to proceed with the issuance of said Bonds for such purpose(s); and Whereas, pursuant to Section 384.28 of the Code of Iowa, it is hereby found and determined that the various general obligation bonds authorized as hereinabove described shall be combined for the purpose of issuance in a single issue of $10,140,000* (Dollar Amount Subject to Change) General Obligation Bonds as hereinafter set forth; and Whereas, in conjunction with its Municipal Advisor, Speer Financial, and Disclosure Counsel, the City has caused a Preliminary Official Statement to be prepared outlining the details of the proposed sale of the Bonds; and Whereas, the Council has received information from its Municipal Advisor evaluating and recommending the procedure hereinafter described for electronic, facsimile and internet bidding to maintain the integrity and security of the competitive bidding process and to facilitate the delivery of bids by interested parties; and Whereas, the Council deems it in the best interests of the City and the residents thereof to receive bids to purchase such Bonds by means of both sealed and electronic internet communication. Now, Therefore, be it Resolved by the City Council of the City of Iowa City, State of Iowa: Section 1. That the receipt of electronic bids by facsimile machine and through the SpeerAuction Competitive Bidding System described in the Notice of Sale and Official Statement are hereby found and determined to provide reasonable security and to maintain the integrity of the competitive bidding process, and to facilitate the delivery of bids by interested parties in connection with the offering at public sale. 4 Section 2. That General Obligation Bonds, Series 2024, of City of Iowa City, State of Iowa, in the amount of $10,140,000* (Dollar Amount Subject to Change), to be issued as referred to in the preamble of this Resolution, to be dated June 4, 2024, be offered for sale pursuant to the published advertisement. Section 3. That the preliminary Official Statement in the form presented to this meeting be and the same hereby is approved as to form and deemed final for purposes of Rule 15c2-12 of the Securities and Exchange Commission, subject to such revisions, corrections or modifications as the Mayor and City Clerk, upon the advice of bond counsel, disclosure counsel, and the City's Municipal Advisor, shall determine to be appropriate, and is authorized to be distributed in connection with the offering of the Bonds for sale. Section 4. That the Clerk is hereby directed to publish notice of sale of the Bonds at least once, the last one of which shall be not less than four clear days nor more than twenty days before the date of the sale. Publication shall be made in the Iowa City Press -Citizen, a legal newspaper, printed wholly in the English language, published within the county in which the Bonds are to be offered for sale or an adjacent county. The notice is given pursuant to Chapter 75 of the Code of Iowa, and shall state that this Council, on the 7' day of May, 2024, at 6:00 P.M., will hold a meeting to receive and act upon bids for said Bonds, which bids were previously received and opened by City Officials at 11:00 A.M. on said date. The notice shall be in substantially the following form: (To be published on April 26, 2024) (between April 17, 2024 and May 3, 2024) Notice of Bond Sale Time and Place of Sealed Bids: Bids for the sale of Bonds of the City of Iowa City, State of Iowa, hereafter described, must be received at the office of the Finance Director, City Hall, 410 E. Washington, Iowa City, Iowa 52440 (the "Issuer") before 11:00 A.M., on the 70' day of May, 2024. The bids will then be publicly opened and referred for action to the meeting of the City Council in conformity with the Terms of Offering. The Bonds: The Bonds to be offered are the following: General Obligation Bonds, Series 2024, in the amount of $10,140,000*, to be dated June 4, 2024 (the "Bonds"). Bids to be received before 11:00 A.M., C.D.T. *Subject to principal adjustment pursuant to official Terms of Offering. Manner of Bidding: Open bids will not be received. Bids will be received in any of the following methods: Sealed Bidding: Sealed bids may be submitted and will be received at the office of the Finance Director at City Hall, 410 E. Washington, Iowa City, Iowa 52440. Electronic Internet Bidding: Electronic internet bids will be received at the office of the Finance Director at City Hall, 410 E. Washington, Iowa City, Iowa 52440. The bids must be submitted through the SPEERAUCTION competitive bidding system. Electronic Facsimile Biddine: Electronic facsimile bids will be received by the City's Municipal Advisor, Speer Financial, Waterloo, Iowa (facsimile number: (319) 291-8628 or (319) 341-4008)_ Electronic facsimile bids will be treated as sealed bids. Consideration of Bids: After the time for receipt of bids has passed, the close of sealed bids will be announced. Sealed bids will then be publicly opened and announced. Finally, electronic internet bids will be accessed and announced. Sale and Award: The sale and award of the Bonds will be held in the Council Chambers, at Emma J. Harvat Hall, 410 E. Washington St., Iowa City, Iowa at a meeting of the City Council on the above date at 6:00 P.M. Official Statement: The Issuer has issued an Official Statement of information pertaining to the Bonds to be offered, including a statement of the Terms of Offering and an Official Bid Form, which is incorporated by reference as a part of this notice. The Official Statement may be obtained by request addressed to the City Clerk, City Hall, 410 E. Washington, Iowa City, Iowa 52440 or the Issuer's Municipal Advisor, Speer Financial, 531 Commercial Street, Waterloo, Iowa, 50703, Telephone: 319-291-2077. Terms of Offerine: All bids shall be in conformity with and the sale shall be in accordance with the Terms of Offering as set forth in the Official Statement. Legal Opinion: The Bonds will be sold subject to the opinion of Ahlers & Cooney, P.C., Attorneys of Des Moines, Iowa, as to the legality and their opinion will be furnished together with the printed Bonds without cost to the purchaser and all bids will be so conditioned. Except to the extent necessary to issue their opinion as to the legality of the Bonds, the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents, materials or statements made or furnished in connection with the sale, issuance or marketing of the Bonds. Rights Reserved: The right is reserved to reject any or all bids, and to waive any irregularities as deemed to be in the best interests of the public. By order of the City Council of the City of Iowa City, State of Iowa. City Clerk, City of Iowa City, State of Iowa (End of Notice) Passed and Approved this 16`h day of April, 2024. Attest: kL 1,4 City erCl k��� Mdydr Attest: kL 1,4 City erCl k��� Certificate State of Iowa ) ) SS County of Johnson ) I, the undersigned City Clerk of the City of Iowa City, State of Iowa, do hereby certify that attached is a true and complete copy of the portion of the records of the City showing proceedings of the Council, and the same is a true and complete copy of the action taken by the Council with respect to the matter at the meeting held on the date indicated in the attachment, which proceedings remain in full force and effect, and have not been amended or rescinded in any way; that meeting and all action thereat was duly and publicly held in accordance with a notice of meeting and tentative agenda, a copy of which was timely served on each member of the Council and posted on a bulletin board or other prominent place easily accessible to the public and clearly designated for that purpose at the principal office of the Council pursuant to the local rules of the Council and the provisions of Chapter 21, Code of Iowa, upon reasonable advance notice to the public and media at least twenty-four hours prior to the commencement of the meeting as required by law and with members of the public present in attendance; I further certify that the individuals named therein were on the date thereof duly and lawfully possessed of their respective City offices as indicated therein, that no Council vacancy existed except as may be stated in the proceedings, and that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the City or the right of the individuals named therein as officers to their respective positions. WITNESS my hand and the seal of the Council hereto affixed this 16th day of April , 2024. � )) Id�p QV__D ACJne. City Cler , City ty of Iowa City, State of Iowa (Seal) Certificate State of Iowa } ) SS County of Johnson ) I, the undersigned, do hereby certify that I am now and was at the times hereinafter mentioned, the duly qualified and acting Clerk of the City of Iowa City, in the County of Johnson, State of Iowa, and that as such Clerk and by full authority from the Council of the City, I have caused a Notice of Bond Sale ($10,140,000* (Dollar Amount Subject to Change) General Obligation Bonds, Series 2024) of which the clipping annexed to the publisher's affidavit hereto attached is in words and figures a correct and complete copy, to be published as required by law in the Iowa City Press -Citizen, a legal newspaper published at least once weekly, printed wholly in the English language, published regularly and mailed through the post office of current entry for more than two years and which has had for more than two years a bona fide paid circulation recognized by the postal laws of the United States, and has a general circulation in the City, and that the Notice was published in all of the issues thereof published and circulated on the following date: 7r i I Z(P 2024. WITNESS my official signature this 2 c� t h, day of 2024. City Clerk, City of Iowa tity, State of Iowa (Seal) 02330208\10714-144 LocaliQ Iowa GANNETT AFFIDAVIT OF PUBLICATION CITY OF IOWA CITY City Clerk's Office City Of Iowa City 410 L Washington ST Iowa City IA 32240-1825 STATE OF WISCONSIN. COUNTY OF BROWN The Iowa City Press Citizen, a newspaper printed and published in the city of Iowa, Johnson County, State of Iowa, and personal knowledge of the facts herein state and that the notice hereto annexed was Published in said newspapers in the issue: 0 412 6/2 02 4 and that the fees charged are legal. Sworn to and subscribed before on 04/26/2024 Legal C161 -1k E Notary, State o W h b unty of Brown My commission expires Publication Cost: $76.00 Order No: 10094593 # of Copies: Customer No: 1249729 1 PO N: THIS IS NOT AN INVOICE! Plrmm do not u.�-e dais la�+n he' prtrnwn+rcvittareee. KATHLEEN ALLEN Notary Public State of WISCOnSiri PO Box 631851 Cincinnati, OH 45263-1851 Page I of I Item Number: 6.i. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution approving an agreement with Iowa City Downtown District to allow for the consumption and possession of alcohol on a portion of the 200 block of N. Linn Street. Prepared By: Susan Dulek, First Ass't. City Attorney Reviewed By: Rachel Kilburg Varley, Economic Development Coordinator Geoff Fruin, City Manager Fiscal Impact: none Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Resolution Agreement Executive Summary: The City Code allows nonprofit corporations by agreement to have control over a portion of the public right-of-way under limited circumstances for the purpose of possessing, consuming and selling alcohol. The Downtown District would like to be able to have patrons of adjacent establishments possess and consume alcohol in a demarcated area in the 200 block of N. Linn St. from April 17 to Nov. 1. The agreement is the same as the one Council approved for 2023. Prepared by: Susan Dulek, First Asst. City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030 Resolution No. 24-99 Resolution approving an agreement with Iowa City Downtown District to allow for the consumption and possession of alcohol on a portion of the 200 block of N. Linn Street. Whereas, section 4-5-3D of the City Code allows nonprofit corporations by agreement to have control over a portion of the public right-of-way or a park under limited circumstances for the purpose of possessing, consuming and selling alcohol; and Whereas, the Iowa City Downtown District would like to be able to have patrons of adjacent establishments possess and consume alcohol in a demarcated area in the 200 block of N. Linn Street from April 17, 2024 to November 1, 2024; and Whereas, it is in the City of Iowa City's interest to execute the attached agreement. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: The City Manager is authorized to sign the attached agreement and any needed amendments. Passed and approved this 16th day of April, 2024. Ma &0 Approved by: Attest: Cly Clerk City Attor ey's Office (Sue Dulek - 04/10/2024) It was moved by MOe and seconded by Alter the Resolution be adopted, and upon roll call there were: AYES: NAYS: ABSENT: X Alter X Bergus X Dunn Harmsen _X Moe X Salih X Teague Drafted by: Susan Dulek, Ass't. City Attorney, 410 E. Washington St., Iowa City, IA 52240;319/356-5030 2024 AGREEMENT BETWEEN THE CITY OF IOWA CITY AND IOWA CITY DOWNTOWN SELF - SUPPORTED MUNICIPAL IMPROVEMENT DISTRICT TO ALLOW THE CONSUMPTION AND POSSESSION OF ALCOHOL IN THE 200 BLOCK OF N. LINN STREET This Agreement is made between Iowa City Downtown Self Supported Municipal Improvement District, d/b/a Iowa City Downtown District ("District") and the City of Iowa City, a municipal corporation ("City"), in Iowa City, Iowa. WHEREAS, District is an "authorized entity" as that term is defined in section 4-5-3D of the City Code; and WHEREAS, District has applied for an alcohol license for the 200 block of N. Linn Street for from April 17, 2024 to November 1, 2024; and WHEREAS, the parties wish to enter into an agreement to allow persons to possess and consume alcohol under limited circumstances on the 200 block of N. Linn Street. THE PARTIES THEREFORE AGREE AS FOLLOWS: Authorized Site. In consideration for District's promises herein, the City agrees to allow District control over the area in the 200 block of N. Linn St. as shown on the diagram which is attached, marked Exhibit A, and incorporated herein ("authorized site") during the term of this Agreement. Alcohol may be possessed and consumed on the authorized site only from 10:00 am to 11:59 pm. District must allow members of the public unobstructed use and access to the authorized site at all times. 2. Term. This agreement shall be in effect from April 17, 2024, at 10:00 am to October 31, 2024 at 11:59 pm. 3. License. This agreement is void if District does not have an alcohol license. 4. Liquor. Liquor may be possessed or consumed on the authorized site along with wine and beer. Should the availability of liquor create safety concerns to the public, as solely determined by the City, the City may notify District that only wine and beer may be possessed or consumed on the authorized site and that liquor is no longer allowed on the authorized site. 5. Sale and Service Restrictions. No sales or service of alcohol is allowed on the authorized site. District shall ensure that establishments with alcohol licenses located adjacent to the authorized site do not sell or serve alcohol to a person on the authorized site. All alcohol sales and service must occur within the building housing said establishment or within the establishment's sidewalk cafe. District acknowledges that the authorized site is subject to all applicable alcohol restrictions in the City Code. 6. Delineation. The authorized site shall be delineated by pavement paint at District cost and as approved by the City. 7. ADA. The District may place chairs and tables on the authorized site, but shall ensure that there is a clear width of three feet (3') between arrangements of tables and chairs to allow a wheelchair an accessible route through the authorized site. 8. Advertisement. District shall not, nor shall it allow anyone to, erect or place any sign or other matter advertising any brand of alcoholic liquor, beer, or wine upon the authorized site. Sponsorship signage unrelated to businesses selling alcohol, beer, wine, or tobacco will be allowed. Additionally, items designed to store, but not serve, alcohol and marked with a brand of alcohol may be allowed with City permission if used in conjunction with lighting or table service. 9. Cleaning. The parties acknowledge that, pursuant to a separate agreement entitled "Operating Agreement," the City has agreed to provide regular sweeping, trash removal and amenity repair in the 200 -block on N. Linn Street, which includes the authorized site. Should the City services provided pursuant to said Operating Agreement be insufficient to maintain the authorized site as determined by the City or should additional cleaning be desired by District beyond the City's baseline services, District shall be responsible for such cleaning of the authorized site at its cost. 10. No Smoking. Smoking is prohibited, and District shall post a no -smoking sign on the north and south sides of the authorized site. The signs shall comply with Iowa Code Section 142D.6, as amended. Additionally, the use of electronic cigarettes is prohibited. Electronic cigarette means vapor product as defined in Section 453A.1 of the Code of Iowa, as amended. 11. Anchoring and Drilling. District shall not drill any holes into the pavement 12. Insurance. a) Premises Insurance. The District shall carry comprehensive general liability insurance for bodily injury and property damage on the authorized site in the amount of $1,000,000 (one million dollars) for each occurrence and $2,000,000 (two million dollars) in the aggregate and shall name the City as an additional insured. District shall furnish a copy. of a certificate of insurance for same, satisfactory to the City at the time of execution of this agreement. District shall notify the City 1 week before cancellation of said insurance, and said cancellation shall automatically terminate this Agreement. b) Dram Shop Insurance. The District shall carry "dram shop" insurance in compliance with Iowa Code section .123.92, as amended, in the amount of $1,000,000 (one million dollars). District shall provide 1 week notice to the City before cancellation of said insurance, and said cancellation shall . automatically terminate this Agreement. c) Governmental Immunities Endorsement. District shall obtain a governmental immunities endorsement that meets the requirements set forth on Exhibit B, which is attached and incorporated herein. 2 13. Indemnification. District shall pay on behalf of the City all sums which the City shall be obligated to pay by reason of any liability imposed upon the City for damages of any kind resulting from the use of the authorized site or sale, consumption, or possession of alcohol on the authorized site, whether sustained by any person or person, caused by accident or otherwise and shall defend at its own expense and on behalf of the City, its officers, employees and agents any claim against the City, its officers, employees, and agents arising out of the use of the authorized site or sale, consumption, or possession of alcohol on the authorized site. 14. Non -Discrimination. District shall not discriminate against any person in employment or public accommodation because of race, religion, color, creed, gender identity, sex, national origin, sexual orientation, mental or physical disability, marital status or age. "Employment" shall include but not be limited to hiring, accepting, registering, classifying, promoting, or referring to employment. "Public accommodation" shall include but not be limited to providing goods, services, facilities, privileges and advantages to the public. 15. Termination. The City may.terminate this agreement upon written notice for violation of any provision of this agreement and for any reason if the City determines that the authorized site is needed for a public use. 16. Assignment and Subletting. District shall not assign or sublet this agreement without prior written approval of the City. 17. Entire Agreement. This constitutes the whole agreement between the parties, and may be modified in writing only, duly signed by the parties. Dated, this 16th day of _April_, 2024. IOWA CITY AND IOWA CITY DOWNTOWN SELF -SUPPORTED MUNICIPAL IMPROVEMENT DISTRICT r2 L— By: Bets otter, Executive Director THE CITY OF Y Geoff Fruin, City Manager Approve' City Attorney's Office 3 Cheep Shop n R ti'fine Bar � C= EXHIBIT B Governmental Immunities Endorsement 1. Non -waiver of Government Immunity. The insurance carrier expressly agrees and states that the purchase of this policy and the including of the City of Iowa City, Iowa as Additional Insured does not waive any of the defenses of governmental immunity available to the City of Iowa City, Iowa, under Code of Iowa Section 670.4 as it now exists and as it may be amended from time to time. 2. Claims. Coverage. The insurance carrier further agrees that this policy of insurance shall cover only those claims not subject to the defense of governmental immunity under the Code of Iowa Section 670.4 as it now exists and as it may be amended from time to time. Those claims not subject to Code of Iowa Section 670.4 shall be covered by the terms and conditions of this insurance policy. 3. Assertion of Government Immunity. The City of Iowa City, Iowa shall be responsible for asserting any defense of governmental immunity, and may do so at any time and shall do so upon the timely written request of the insurance carrier. Nothing contained in this endorsement shall prevent the carrier from asserting the defense of governmental immunity on behalf of the City of Iowa City. 4. Non -Denial of Coverage. The insurance carrier shall not deny coverage under this policy and the insurance carrier shall not deny any of the rights and benefits accruing to the City of Iowa City, Iowa under this policy for reasons of governmental immunity unless and until a court of competent jurisdiction has ruled in favor of the defense(s) of governmental immunity asserted by the City of Iowa City, Iowa. 5. No Other Change in Policy. The insurance carrier, the City of Iowa City, Iowa, agree that the above preservation of governmental immunities shall not otherwise change or alter the coverage available under the policy. Item Number: 6.j. Executive Summary: The City must update their 5 -year Consolidated Plan to receive continued direct entitlement Community Development Block Grant (CDBG) and HOME Investment Partnerships (HOME) program funds from the U.S Department of Housing and Urban Development (HUD). The City of Iowa City receives and administers these funds for various projects and programs benefitting primarily low and moderate income residents throughout the city. The Consultant will collaborate with the City's Neighborhood and Development Services staff in the identification, development, scheduling, and implementation of activities designed to complete a HUD approved Five -Year Consolidated Plan, Fair Housing Study, and a Regional Housing Needs Analysis. Background /Analysis: The current 5 -Year Consolidated Plan (a.k.a. City Steps) is due for renewal for City fiscal years 2026 through 2030 (July 1, 2025, to June 30, 2030). The 5 -Year Consolidated Plan must be completed by November 15, 2024. The City of Iowa City currently receives approximately $515,000 in annual HOME funds and approximately $730,000 in CDBG funds. The City of Iowa City completed an Analysis of Impediments to Fair Housing (Fair Housing Study) in 2019. The City must update this plan every five years. The Fair Housing Study, used by both the City and the Housing Authority, must be in accordance with current HUD regulations regarding Affirmatively Furthering Fair Housing. CITY OF IOWA CITY k� COUNCIL ACTION REPORT April 16, 2024 Resolution authorizing the procurement of Consulting Services to develop a Five -Year Consolidated Plan, Fair Housing Study, and a Regional Housing Needs Analysis. Prepared By: Tracy Hightshoe, Neighborhood & Development Services Director Reviewed By: Geoff Fruin, City Manager Eric Goers, City Attorney Fiscal Impact: The City expects to expend approximately $172,100 for these services. Funds are available In account numbers 10610620, 21610310, 21610310-C0826, 21610410-H0832, and 79490110. Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Resolution COIC Mullin Lonergan Agree M&L Signed 4-10-24.pdf Executive Summary: The City must update their 5 -year Consolidated Plan to receive continued direct entitlement Community Development Block Grant (CDBG) and HOME Investment Partnerships (HOME) program funds from the U.S Department of Housing and Urban Development (HUD). The City of Iowa City receives and administers these funds for various projects and programs benefitting primarily low and moderate income residents throughout the city. The Consultant will collaborate with the City's Neighborhood and Development Services staff in the identification, development, scheduling, and implementation of activities designed to complete a HUD approved Five -Year Consolidated Plan, Fair Housing Study, and a Regional Housing Needs Analysis. Background /Analysis: The current 5 -Year Consolidated Plan (a.k.a. City Steps) is due for renewal for City fiscal years 2026 through 2030 (July 1, 2025, to June 30, 2030). The 5 -Year Consolidated Plan must be completed by November 15, 2024. The City of Iowa City currently receives approximately $515,000 in annual HOME funds and approximately $730,000 in CDBG funds. The City of Iowa City completed an Analysis of Impediments to Fair Housing (Fair Housing Study) in 2019. The City must update this plan every five years. The Fair Housing Study, used by both the City and the Housing Authority, must be in accordance with current HUD regulations regarding Affirmatively Furthering Fair Housing. The City administers various federal housing programs and, since FY19, has dedicated $1,000,000 annually in local funds to address housing needs. Safe and stable housing is a cornerstone for all other basic needs. The City does not have a holistic, regional understanding of the area housing market to direct policy decisions. A comprehensive assessment of the region's housing is needed to assess the gaps in the housing market, how the policies of different neighboring communities interact, how we prioritize the funds we have available, and how the City can best position itself to meet its share of regional affordable housing needs. U'J Prepared by: Tracy Hightshoe, NDS Director, 410 E Washington, Iowa City, IA 52240 (319) 356-5244 Resolution No. 24-100 Resolution authorizing the procurement of Consulting Services to develop a Five -Year Consolidated Plan, Fair Housing, Study, and a Regional Housing Needs Analysis Whereas Request for Proposal #24-07 was released to solicit Consulting Services to develop a Five -Year Consolidated Plan, an Equity Plan (Fair Housing Study), and a Regional Housing Needs Analysis; and Whereas four proposals were received for these services; and Whereas, the evaluation committee has selected Mullin & Lonergan Associates, Inc.; and Whereas the City's purchasing policy requires City Council to approve consulting services contracts over $100,000; and Whereas the City expects to expend approximately $172,100 for these services; and Whereas funds for this purchase are available in the budget under accounts 10610620, 21610310, 21610310-C0826, 21610410-1-10832, and 79490110; and Whereas, approval of this procurement is in the public interest. Now, therefore, be it resolved, by the City Council of the City of Iowa City, Iowa, that: 1. The proposed procurement as described is approved. 2. The City Manager is authorized to sign the agreement with the vendor and take whatever steps are necessary to effectuate any reasonable and appropriate amendments or renewals of said agreement. Passed and approved this 16th day of April Attest: City lerk 2024 Approved City Attophey's Office _ 04/10/2024 Resolution No. 24 -loo Page 2 It was moved by and seconded by Alter the Resolution be adopted, and upon roll call there were: Ayes: Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague �Vj Consultant Agreement This agreement made and entered into this 16th day of April 2024, by and between the City of Iowa City, a municipal corporation, hereinafter referred to as the City and Mullin & Lonergan, of Pittsburgh PA, hereinafter referred to as the Consultant. Whereas the City of Iowa City Neighborhood and Development Services Department released Request for Proposal 24-07 to evaluate potential Consultants who could provide a Five-year Consolidated Plan, an Equity Plan, and a Regional Housing Needs Analysis. Whereas the City is updating the planning documents necessary to receive continued direct Entitlement Community assistance from the U.S. Department of Housing and Urban Development (HUD). The City of Iowa City receives and administers Community Development Block Grant (CDBG) and Home Investment Partnership Program (HOME) funds. Whereas the City must complete an Annual Action Plan in accordance with 24 CFR 91.220 using HUD's Consolidated Plan template (year 1) on IDIS. Whereas the City of Iowa City completed an Analysis of Impediments to Fair Housing (Fair Housing Study) in 2019 and must develop an updated Fair Housing Study also known as an Equity Plan in accordance with the current HUD regulations regarding Affirmatively Furthering Fair Housing. Whereas the City has created and implemented Affordable Housing Action Plans in 2016 and 2021 and must develop a Regional Housing Need Analysis to assess the exact gaps in the housing market, how policies of different neighboring jurisdictions interact, and how the City can best position itself to meet its share of regional affordable housing needs. NOW THEREFORE, it is agreed by and between the parties hereto that the City does now contract with the Consultant to provide services as set forth herein. SCOPE OF SERVICES Consultant agrees to develop a Five-year Consolidated Plan, a Fair Housing Study, and a Regional Housing Needs Analysis also known as an Equity Plan for the City, and to do so in a timely and satisfactory manner. The work shall. be done consistent with the scope and specifications established in Request for Proposal 24-07 Five -Year Consolidated Plan, Equity Plan, and a Regional Housing Needs Analysis attached as "Exhibit A" and the Consultant's proposal, attached as "Exhibit B", and incorporated herein by these references. In the event of any conflict between this agreement and Exhibit A and Exhibit B, This Agreement shall prevail. -2 - II. TIME OF COMPLETION The Consultant shall complete the following phases of the Project in accordance with the schedule shown. Deliverable Due by: Community & Stakeholder May 1.— June 30, 2024 Outreach Write up of public comments July 15, 2024 Preliminary Regional Housing October 15, 2024 Needs Assessment Recommendations, Draft Consolidated Plan &Fair Housing Study/Equity Plan AFFH Fair Housing Stud Final Regional Housing December 30, 2024 Needs Assessment Completed Annual Action April 15, 2025 Plan, Fair Housing Study/Equity Plan (AFFH Fair Housing Study), and, Consolidated Plan Solution Based Recommendations Completion date January 1, 2025. Final Document shall be completed on or before January 31, 2025. III. - COMPENSATION FOR SERVICES The Consultant shall provide Consulting Services and develop a Five -Year Consolidated Plan, a Fair Housing Study/Equity plan, and a Regional Housing Needs Analysis for a total not to exceed price including reimbursable expenses of $172,100.00. The Consultant shall invoice the City monthly for services rendered based on the percentage of project completion. IV General Terms A. The Consultant shall not commit any of the following employment practices and agrees to prohibit the following practices in any subcontracts. To discharge or refuse to hire any individual because of their race, color, religion, sex, national origin, disability, age, marital status, gender identity, or sexual orientation. 2. To discriminate against any individual in terms, conditions, or privileges of employment because of their race, color, religion, sex, national origin, disability, age, marital status, gender identity, or sexual orientation. B. Should the City terminate this Agreement, the Consultant shall be paid for all work and services performed up to the time of termination. However, such sums shall -3 - not be greater than the "lump sum" amount listed in Section III. The City may terminate this Agreement upon seven (7) calendar days' written notice to the Consultant. C. This Agreement shall be binding upon the successors and assigns of the parties hereto, provided that no assignment shall be without the written consent of all Parties to said Agreement. D. It is understood and agreed that the retention of the Consultant by the City for the purpose of. the Project shall be as an independent contractor and shall be exclusive, but the Consultant shall have the right to employ such assistance as may be required for the performance of the Project. E. It is agreed by the City that all records and, files pertaining to information needed by the Consultant for the project shall be available by said City upon reasonable request to the Consultant. The City agrees to furnish all reasonable assistance in the use of these records and files. F. It is further agreed that no Party to this Agreement shall perform contrary to any state, federal, or local law or any of the ordinances of the City of Iowa City, Iowa. G. At the request of the City, the Consultant shall attend,meetings of the City Council relative to the work set forth in this Agreement. Any requests made by the City shall be given with reasonable notice to the Consultant to assure attendance. H. The Consultant agrees to furnish, upon termination of this Agreement and upon demand by the City, copies of all basic notes and sketches, charts, computations, and any other data prepared or obtained by the Consultant pursuant to this Agreement without cost, and without restrictions or limitation as to the use relative to specific projects covered under this Agreement. In such event, the Consultant shall not be liable for the City's use of such documents on other projects. The Consultant agrees to furnish all reports, specifications, and drawings with the seal of a licensed professional affixed thereto as required by Iowa law. The City agrees to tender the Consultant all fees in a timely manner, excepting, however, that failure of the Consultant to satisfactorily perform in accordance with this Agreement shall constitute grounds for the City to withhold payment of the amount sufficient to properly complete the Project in accordance with this Agreement. K. Should any section of this Agreement be found invalid, it is agreed that the remaining portion shall be deemed severable from the invalid portion and continue in full force and effect. L. Original contract drawings shall become the property of the City. The Consultant shall be allowed to keep reproducible copies for the Consultant's own filing use. M. Fees paid for securing approval of authorities having jurisdiction over the Project will be paid by the City. N. Upon signing this Agreement, Consultant acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes -4 - members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this Agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5. O. Indemnification. To the full extent permitted by law, Consultant agrees to defend, indemnify, and hold harmless the City against any and all claims, demands, suits, loss, expenses, including attorney's fees, and for any damages which may be asserted, claimed or recovered against or from the City by reason of personal injury, including bodily injury or death, and property damages, including loss of use thereof, caused by Consultant's negligent acts, errors or omissions in performing the work and/or services provided by Consultant to the City pursuant to the provisions of this Agreement. 2. Consultant. assumes full responsibility for any and all damage or injuries which may result to any person or property by reason of Consultant's negligent acts, errors, or omissions in connection with the work and/or services provided by Consultant to the City pursuant to this Agreement and agrees to pay the City for all damages caused to the City's premises resulting from the negligent acts, errors, or omissions of Consultant. 3. The Consultant's obligation to indemnify the City shall not include the obligation.to indemnify, hold harmless, or defend the City against lability, claims, damages, losses, or expenses, including attorney fees, to the extent caused by or resulting from the negligent act, error, or omission of the City. 4. For purposes of this paragraph, the term "Consultant" means and includes the Consultant, its officers, agents, employees, sub -consultants, and others for whom Consultant is legally liable, and the term "City" means and includes the City of Iowa City, Iowa its Mayor, City Council members, employees, and volunteers. P. Insurance The Consultant agrees at all times material to this Agreement to have and maintain professional liability insurance covering the Consultant's liability for the Consultant's negligent acts, errors, and omissions in the sum of $1,000,000 Per Claim, $1,000,000 Annual Aggregate, or a $1,000,000 Combined Single Limit. To the fullest extent permitted by applicable state law, a Waiver of Subrogation Clause (endorsement) shall be added. 2. Consultant agrees to provide the City a,cedificate of insurance evidencing that all coverages, limits, and endorsements required herein are maintained and in full force and effect, and certificates of Insurance shall provide a minimum thirty (30) day endeavor to notify, when available by Consultant's insurer. If the Consultant receives a non -renewal or cancellation notice from an insurance carrier affording coverage required herein, or receives notice that coverage no longer complies with the insurance requirements -5 - herein, Consultant agrees to notify the City within five (5) business days with a copy of the non -renewal or cancellation notice. Q. Standard of Care. 1. The Consultant shall perform services for, and furnish deliverables to, the City pertaining to the Project as set forth in this Agreement. The Consultant shall possess a degree of learning, care and skill ordinarily possessed by reputable professionals, practicing in this area under similar circumstances The Consultant shall use reasonable diligence and professional judgment in the exercise of skill and application of learning. 2. Consultant represents that the Services and all its components shall be free of defects caused by negligence; shall be performed in a manner consistent with the standard of care of other professional service providers in a similar Industry and application; shall conform to the requirements of this Agreement; and shall be sufficient and suitable for the purposes expressed in this Agreement. 3. All provisions of this Agreement shall be reconciled in accordance with the generally accepted standards of the Engineering Profession. 4. Consultant's obligations under this Section shall exist without regard to, and shall not be construed to be waived by, the availability or unavailability of any insurance, either of City or Consultant. R. There are no other considerations or monies contingent upon or resulting from the execution of this Agreement, it is the entire Agreement, and no other monies or considerations have been solicited. S. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Iowa. Any legal proceeding instituted with respect to this Agreement shall be brought in a court of competent jurisdiction in Johnson County, Iowa. The parties hereto hereby submit to personal jurisdiction therein and irrevocably waive any objection as to venue therein, including any argument that such proceeding has been brought in an inconvenient forum. For the City � By: Title: Date: V-11;71 2,`7 For the Consultant By: " W -c-4 r, U_ P Title: �(�ti�dr�k Date: `'t— t0 2024 Approved by: • City (Arttorn y's Office 7 / r � 0 �Y Exhibit A � � 1 TY OF ICAVA CITY La NESCID C LTY OF LIT ERATI! RE RFP24-07 Five -Year Consolidated Plan, Equity Plan, and a Regional Housing Needs Analysis Issue Date: 1/29/2024 Questions Deadline: 2/21/2024 12:00 PM (CT) Response Deadline: 2/29/2024 02:30 PM (CT) Purchasing Contact Information Contact: Theresa Vanatter Address: 410E Washington St IOWA CITY, IA 52240-4525 Page 1 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 Event Information Number: RFP24-07 Title: Five -Year Consolidated Plan, Equity Plan, and a Regional Housing Needs Analysis Type: Request for Proposal FY24 Issue Date: 1/29/2024 Question Deadline: 2/21/2024 12:00 PM (CT) Response Deadline: 2/29/2024 02:30 PM (CT) Notes: The City of Iowa City is requesting proposals from qualified vendors to provide consulting services for: A Five -Year Consolidated Plan, an Equity Plan, and a Regional Housing Needs Analysis, Proposals must be submitted online via Ion Wave. Faxed, emailed and hard copies of proposals will not be accepted. All questions and clarifications regarding this Request for Proposal will be accepted until February 21, 2024 at noon (CST) by submitting your questions through Ion Wave. All questions must be in writing in order to receive a response. Bid Attachments A - General Requirements and Instructions to Vendors.pdf Appendix A B - General Terms and Conditions.pdf Appendix B C - Wage Theft Affidavit. pdf Appendix C D - Contract Compliance Document.pdf Appendix D E - Sample Consultant Agreement.pdf Appendix E uested Attachments Proposal (Attachment required) Each proposal must contain a separate Project Work Plan section and Project Pricing Schedule for each plan the vendor is submitting a proposal for. General Terms and Conditions Exceptions Upload only if you have exceptions Completed Wage Theft Policy (Attachment required) Page 2 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 Bid Attributes 1 No Contact Policy A. Code of Silence: 1. No City Representative other than the contact listed under Bid Contact Information should be contacted regarding this Request for Proposal beginning with the issue date of the Request for Proposal and ending with the issuance of the Purchase Order. 2. Any contact initiated by the vendor or by a City representative, other than the Purchasing Division representative listed herein, concerning this Request for Proposal is strictly prohibited. Any such unauthorized contact may cause the disqualification of the vendor from the procurement transaction. ❑ I have read, understand, and agree to these terms (Required: Check if applicable) 2 Submittal Requirements A. This Request for Proposal is soliciting responses for three separate plans: 1. 5 -year Consolidated Plan 2. Equity Plan 3. Regional Housing Market Analysis Vendors may submit a response for one, two, or three of the plans. If a vendor chooses to submit for more than one plan the vendor's proposal must contain a separate Project Plan and itemized Pricing Schedule section for each plan the vendor is submitting a proposal for. A not -to -exceed price including reimbursable expense price must also be entered in the line items tab for each plan the vendor is submitting a proposal for. ❑ I have read, understand, and agree to these terms (Required: Check if applicable) 3 Contract Term A. This contract start date will occur on a mutually agreed upon date on or near April 1 of 2024 and will conclude on a negotiated date. Pricing shall be firm from the date stated on the contract purchase order. No price escalation will be allowed during the original term of the contract. ❑ I have read and understand these terms. (Required.: Check if applicable) Page 3 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 4 1 Definitions A Definitions for this Request for Proposal. The City/City: Indicates the City of Iowa City. May: Indicates something that is not mandatory but permissible, desirable, or preferred. Point of contact: Is the vendor's representative available for all questions pertaining to the vendor's response to this Request for Proposal. RFP: Stands for Request for Proposal. Shall or Must: Indicates a mandatory requirement. Failure to meet a mandatory requirement may result in a rejection of your proposal or cancelation of any subsequent contract. Should: Indicates something that is recommended but not mandatory. Vendor: Proposer submitting a response to this Request for Proposal. ❑ I have read and understand (Required: Check if applicable) 5 1 Required Attachments and Exceptions [:1 A From the Attachments tab download and review the following required documents. Appendix A - General Requirements and Instructions to Vendors. Appendix B - General Terms and conditions. Appendix C - Wage Theft Affidavit (Sign and upload your completed Wage Theft Affidavit to the Response Attachments tab). Appendix D - Contract Compliance Form (To be completed by awarded vendor only). Appendix E - Sample Consultant Agreement B. Vendors are required to inform themselves of all requirements of this Request for Proposal. Failure to do so is at the vendor's own risk. If a vendor does not clearly demonstrate and provide documentation substantiating that they are compliant with the qualifications and specifications of this Request for Proposal, they may be disqualified. C. Exceptions and Contract Negotiations. Exceptions submitted after the Request for Proposal due date will not be accepted. If your company has no exceptions/deviations select "No exceptions" from the menu below. If you select "No exceptions" you must not submit your company's terms and conditions or any other list of exceptions after the due date. If you select "No exceptions" the vendor agrees that in the event of any disagreement between the City of Iowa City Terms and Conditions and the vendor's Terms and Conditions, the City of Iowa City Terms and Conditions will prevail. If you have exceptions to this Request for Proposal, choose "I have exceptions' from the menu below and attach a list of your exceptions to the response attachments tab. Exceptions will be negotiated by the City of Iowa City and the vendor. Vendors witV exceptions may be scored lower than vendors that have fewer or no exceptions. ❑ I have no exceptions. ❑ I have exceptions to these terms and conditions (Required: Check only one) Proposal Requirements A Documents required to be submitted with your proposal. Vendor's submitted proposal must be organized in the sequence below. If a vendor is proposing on more than one of the three plans, the vendor must have a separate Project Plan section in their proposal for each plan. Proposals must be uploaded to the response attachments tab. B. Pricing must be completed in the line items section of this proposal. A separate itemized pricing schedule must also be included in your proposal for each plan the vendor is proposing on. C. Section 1 - Executive Summary: Summarize the key points of your proposal. Include the following: 1. The name and contact information for the person(s) who will serve as the Principal Contact. 2. A summary of the firm's understanding of the plan or plans including a brief restatement of the project scope. 3. A signature of the person in your firm who is authorized to negotiate terms, render binding decisions, and Page 4 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 commit the firm's resources. D. Section 2 — Firm Qualifications: tell us about your team. Provide or include: A description of your company's qualifications, credentials, experience and resources as they relate to the requirements of this Request for Proposal. Give a brief overview of your company's experience dealing with projects of similar scope with specific attention given to projects similar to this project for Iowa City. Identify experience your firm may have working with the Consolidated Plan template on IDIS Online and the CPD Maps website (eCon Planning Suite). It is imperative that staff assigned to this project remain consistent throughout the engagement. Provide resumes of all staff assigned to the study. Include training and experience as they relate to the requirements of this Request for Proposal. Note: Staff that will be assigned to this project must be present at any subsequent interviews or presentations. E .Section 3 (Optional) - Project Work Plan Method and Means for the Five -Year Consolidated Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section three tell us how you will conduct your analysis if you are submitting a proposal for the Five - Year Consolidated plan. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. Discuss the final deliverables based on how you will prepare the Plan utilizing HUD's eCon Planning Suite. Provide A detailed time schedule. Include a scheduled time frame for completion of tasks that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates F. Section 3A (Optional) - Project Work Plan Method and Means for the Equity Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 3A tell us how you will conduct your analysis if you are submitting a proposal for the Equity Plan. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. A detailed time schedule. Include a scheduled time frame for completion of each task that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates. G. Section 3B (Optional) - Project Work Plan Method and Means Regional Housing Needs Analysis. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 3A tell us how you will conduct your analysis if you are submitting a proposal for the Regional Housing Needs Analysis. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. A detailed time schedule. Include a scheduled time frame for completion of each task that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates H. Section 4 - (Optional) Pricing Schedule Five -Year Consolidated Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4 provide a pricing schedule if you are submitting a proposal for the Five -Year Consolidated Plan. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. Page 5 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 I. Section 4A - (Optional) Pricing Schedule Equity Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4A provide a pricing schedule if you are submitting a proposal for the Equity Plan. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. J. Section 4B - (Optional) Pricing Schedule Regional Housing Needs Analysis. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4B provide a pricing schedule if you are submitting a proposal for the Regional Housing Needs Analysis. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. K. Section 5 - Reference Projects. Show us your work. Provide: 1. A list of three (3) previous clients of similar size, service area and nature, with whom the vendor has provided similar services. Each listed reference should include the type and size of the client organization, and a brief description and scope of services that were provided. L. Vendor's submitted proposal must be organized in the sequence above. ❑ I have read and understand (Required: Check if applicable) Page 6 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 7 1 Scoring and Evaluation A. Each proposal stands alone and will be evaluated on its own merits by an evaluation committee in terms of meeting the City's requirements and overall responsiveness to this Request for Proposal. B. Vendors will be treated equally without regard to race, color, creed, religion, national origin, sex, gender identity, sexual orientation, disability, marital status, and age. C. Failure of the vendor to provide any information requested in the RFP may result in disqualification of the proposal and shall be the responsibility of the vendor. D. The proposal that accrues the highest point total based on a 150 -point scale shall be recommended for award subject to the best interests of the City of Iowa City. Each category shall receive a point value within the specified range based on how well the proposal meets or exceeds the City's requirements. E. Point category and assigned points. Phase One - 100 points Phase One — Point Category Assigned Points: 1. Experience, Firm's Resume, Qualifications, and Personnel - 20 Points. 2. Proposed Work Plan, Methodology and Rationale, Data Collection, Data analysis, Community Engagement, Goals and strategies, and Implementation Plan - 55 points. 3. Exceptions - (Note: proposals that have no or fewer exceptions will receive more points) - 5 Points. 4. Fee Schedule - 20 Points. F. Point category and assigned points, Phase two - 50 points. Phase Two - Point Category Assigned Points: Interview and Presentation - 30 Points. Reference Projects, References, and Proven Success with Other Clients - 20 Points. G. Submittal of a proposal infers acceptance of these scoring techniques. ❑ I have read and understand these terms. (Required: Check if applicable) Page 7 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 8 Scope and Project Summary A. The City of Iowa City is requesting proposals from qualified community development consultant firms or individual consultants to assist in updating the planning documents necessary to receive continued direct Entitlement Community assistance from the U. S. Department of Housing and Urban Development (HUD). The City of Iowa City receives and administers Community Development Block Grant (CDBG) and HOME Investment Partnerships Program (HOME) funds. The City has also received federal CDBG-CV, HOME -ARP, and State and Local Fiscal Recovery Funds (SLFRF) through the American Rescue Plan Act (ARPA). Planning documents will also be used to prioritize local affordable housing programs and funding. 1. Five -Year Consolidated Plan (locally known as City Steps) for city fiscal years 2026-2030 (July 1, 2025 to June 30, 2030). 2. An Equity Plan to update the City's 2019 Analysis of Impediments to Fair Housing (Fair Housing Study) that meets the Affirmatively Furthering Fair Housing (AFFH) requirements that are in effect at the time of preparation. Currently plans are subject to the Affirmatively Further Fair Housing (AFFH) Interim Final Rule. 3. A Regional Housing Needs Analysis for the Iowa City metropolitan area. The Needs Analysis is intended to help inform the City's Comprehensive Plan and will occur concurrent with comprehensive planning efforts related to housing. This shall demonstrate housing demand from 2025 to 2035 and recommend housing product types and amounts to be built in the Iowa City area to satisfy demand from current and future residents from 2025-2030. ❑ I have read and understand (Required: Check if applicable) 9 Project Background A. The current 5 -Year Consolidated Plan (a.k.a. City Steps) is due for renewal for city fiscal years 2026 through 2030 (July 1, 2025 to June 30, 2030). The 5 -Year Consolidated Plan must be completed by November 15, 2024. The City of Iowa City currently receives approximately $515,000 in annual HOME entitlement funding and approximately $730,000 in CDBG funds. B. The City of Iowa City completed an Analysis of Impediments to Fair Housing (Fair Housing Study) in 2019. The Equity Plan would update this report for the City of Iowa City and Iowa City Housing Authority in accordance with the current HUD regulations regarding Affirmatively Furthering Fair Housing. C. The City of Iowa City has created and implemented Affordable Housing Action Plans in 2016 and 2021 and currently funds a $1 million Affordable Housing Fund annually. However, the City of Iowa City does not currently have a holistic, regional understanding of the area housing market to direct policy decisions. A comprehensive assessment of the region's housing is needed to assess the exact gaps in the housing market, how the policies of different neighboring jurisdictions interact, and how the City can best position itself to meet its share of regional affordable housing needs. ❑ I have read and understand (Optional: Check if applicable) Page 8 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan U A. Vendors are urged to familiarize themselves with 24 CFR Part 91 regulations and the guidelines established by HUD for the Consolidated Plan. Vendor must use the Consolidated Plan template in IDIS Online and the CPD Maps website (eCon Planning Suite). B. The vendor will collaborate with Iowa City's Neighborhood Services staff in the identification, development, scheduling and implementation of activities designed to complete a HUD acceptable Consolidated Plan. Scope of work includes, but is not limited to the following: 1. Citizen Participation and Consultation: Develop a list of housing and community development stakeholders in the City. Provide meaningful involvement of groups listed in 24 CFR 91.100, including citizens, community-based organizations, businesses, elected officials, housing and service providers in the planning process and regular consultation with city staff. Develop a detailed citizen participation plan that complies with the City's Citizen Participation Plan and federal requirements and includes consultation with: • The Continuum of Care that serves the jurisdiction's geographic area. • Public and private agencies that address housing, health, social services, employment, or education needs of low-income individuals and families, of homeless individuals and families, of youth, and/or of other persons with special needs. • Publicly funded institutions and systems of care that may discharge persons into homelessness (such as health-care, mental health, foster care, and other youth facilities, in addition to corrections programs and institutions). • Public and private organizations engaged in narrowing the digital divide, including broadband internet service providers. • Agencies whose primary responsibilities include the management of flood prone areas, public land or water resources, and emergency management agencies. ❑ I have read and understand. (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 1 A. Executive Summary: The vendor must provide a concise summary that includes the objectives and outcomes identified in the plan, the citizen participation process, public comments, efforts made to broaden public participation, and an evaluation of past performance. ❑ I have read and understand (Required.: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 2 A. Housing and Homeless Needs Assessment: The vendor must provide a summary of the City's estimated housing needs projected for the ensuing five-year period. At the minimum this section must satisfy the requirements of 24 CFR 91.205, which includes: 1. Estimating the number and type of families in need of housing assistance. 2. Summarizing housing problems of interest to HUD, including lead-based paint hazards. 3. Assessing disproportionate housing needs by race and ethnicity. 4. Describing the nature and extent of homelessness using data from the Homeless Management Information System (HMIS) and the Point -In -Time (PIT) count. 5. Describing the characteristics and needs of those housed but at risk of homelessness. 6. Estimating persons having other special needs in need of supportive housing ❑ I have read and understand (Required: Check if applicable) Page 9 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan 3 A. Housing Market Analysis: Provide a description of the significant characteristics of the City's housing market. At a minimum, this section must satisfy the requirements of 24 CFR 91.210, which includes: 1. Analyzing the supply, demand, and condition and cost of housing. 2. Estimating housing available for persons with disabilities or other special needs. 3. Estimating vacant or abandoned buildings and their suitability for rehabilitation. 4. Identifying areas with concentrations of racial/ethnic minorities and/or low-income families. 5. Analyzing the broadband needs of low- and moderate -income households. 6. Identifying the vulnerability of LMI households to increased natural hazard risks. 7. Describing publicly assisted housing units, their physical condition, their restoration needs, and the City's strategy to improve their management, operation, and living environment. 8. Identifying facilities, housing, and services that meet the needs of homeless persons. 9. Identifying facilities, services, and programs assisting persons who require supportive housing, including those returning from institutions. 10. Identifying barriers to affordable housing affected by public policies. ❑ I have read and understand (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 4 A. Housing and Community Development Strategic Plan: The vendor shall provide a description of priorities for allocating funds geographically and among different needs, the City's rationale, obstacles to meeting underserved needs, priorities and objectives to be initiated during the planning period, how funding will address identified needs, and how these will affirmatively further fair housing. At the minimum, this section must satisfy the requirements of 24 CFR 91.215, which includes but is not limited to: 1. Identifying and prioritizing affordable housing and homeless needs projects and activities, including the rationale behind them, and describing their proposed accomplishments. 2. Identifying obstacles to meeting housing goals and objectives, and describing strategies for overcoming such obstacles. 3. Describing how the City will address public housing needs and encourage resident involvement and homeownership. 4. Identifying and prioritizing homeless needs, and describing strategies for reducing and ending homelessness through assessment, direct assistance, and assistance for those at risk. 5. Assessing special needs for the non -homeless, including special housing or supportive service needs for the elderly, persons with physical, mental, or developmental disabilities, persons with alcohol or drug addiction, and persons with HIV/AIDS and their families. 6. Identifying priority non -housing community development needs, including specific long-term and short-term objectives for public facilities and infrastructure improvement, accessibility issues, historic preservation, economic development, planning, public services, and other community development needs. 7. Identifying geographic areas where targeted revitalization efforts are carried out through concentrated and coordinated activities. 8. Identifying strategies to address overcrowding, concentration of racial/ethnic minorities, and avoid involuntary displacement of residents. 9. Describing how the City will address negative public policy effects that act as barriers to affordable housing. 10. Outlining actions to evaluate and reduce lead-based paint hazards. 11. Summarizing goals, programs, and policies for reducing the number of poverty -level families and how affordable housing goals, programs, and policies will support these efforts. 12. Summarizing the institutional structure the City will use to carry out its housing, homeless, and community development plan, and how the City will overcome any identified gaps in this structure. 13. Summarizing activities to enhance coordination among the Continuum of Care, public and assisted housing providers, and health, mental health, and service agencies. 14. Implementation of Housing & Community Development Strategy ❑ I have read and understand (Required: Check if applicable) Page 10 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan 5 A. Annual Action Plan: Complete the FY26 Annual Action Plan (July 1, 2025 to June 30, 2026) to be submitted to Hud by May 15, 2025 using HUD's Consolidated Plan Templated (year 1) on IDIS. Describe and analyze objectives and outcomes in the plan, past performance, citizen participation and consultation (including efforts to broaden public participation), and any comments or views (including if any were not accepted and why). At the minimum this section must satisfy the requirements of 24 CFR 91.220, which includes for the upcoming plan year: 1. Summarizing expected federal resources. 2. Indicating other expected resources to address needs identified in the plan. 3. Summarizing the objectives that the City expects to achieve. 4. Describing geographic areas to which the City will direct assistance. 5. Describing affordable housing goals for specific subpopulations and for units produced, rehabilitated, acquired, and/or receiving rental assistance. 6. Describing actions to address public housing needs and encourage resident involvement and homeownership. 7. Describing goals and actions to reduce and end homelessness. 8. Describing activities to address identified housing and supportive service needs for persons with special needs. 9. Describing actions to address public policies that serve as barriers to affordable housing. 10. Describing actions to affirmatively further fair housing by addressing identified goals. 11. Describing actions to address obstacles to meeting underserved needs, foster affordable housing, reduce lead-based paint hazards, reduce the number of poverty -level families, develop institutional structure, and enhance coordination. 12. Addressing program -specific requirements for the CDBG and HOME programs. 13. Revising resale and recapture provisions to simplify terms and ensure understanding for households receiving assistance. ❑ I have read and understand (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 6 A. Citizen Participation Plan: 1. Update the existing Citizen Participation Plan adopted with City Steps 2025 as required 24 CFR 91.105. 2. Assess past citizen participation and consultation activities and create priorities and goals. 3. Research best practices and recommend potential methods or approaches Iowa City can use to support outreach to the public and stakeholders. Review the role of the Housing and Community Development Commission and recommend changes to the by-laws to provide more meaningful engagement with commissioners. 4. Review the current approval and amendment processes and recommend changes for efficiency while still allowing for public input. 5. Provide examples of strategies that have been effective at the local level. 6. Consider the use of technology to enhance these efforts. ❑ I have read and understand (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 7 A. Identify Potential Funding Sources: Identify potential State and Federal grants and other available funding sources available to the City for housing -related and community development activities. Suggest financial terms for CDBG and HOME projects based on project type or related factors. ❑ I have read and understand (Required.: Check if applicable) Page 11 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan 8 A. City Responsibilities: The City of Iowa City will expect the consultant to have the capacity to exercise independent judgment and to perform those actions necessary to complete the Plan. While the consultant will be working under the general direction of the City, it should be understood the City has limited professional staff capacity to support the project and will rely on the personnel, experience and expertise of the consultant to ensure all necessary components of the process are completed in a timely manner. The City believes it can supply all reasonable clerical support, printing and copying services, AN equipment and meeting location/scheduling services. The City will provide copies of existing plans, data and documents including: 1. Contact lists of local agencies, neighborhood organizations, special interest groups and others to be invited to participate in the process 2. Copies of zoning, subdivision and related land use regulations 3. Information and recommendations developed by the Housing and Community Development Commission or other Council appointed committees 4. FY2016-2020 Consolidated Plan (a.k.a. CITY STEPS 2016-2020) and annual updates 5. Affordable Housing Market Analysis, created December 2007 and updated January 2015 6. Iowa City Housing Authority plans and reports 7. Continuum of Care Reports 8. Facilities, meeting rooms, photocopying, phone, office space, and related services 9. Existing Citizen Participation Plan 10. Analysis of Impediments of Fair Housing ❑ I have read and understand these terms. (Required.: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 9 A. Deliverables: The Consultant shall complete the Consolidated Plan template on IDIS Online. Consultant shall provide a resource summary to include, at a minimum, a list of data sources, copy of data collected, consultations, records, and other supporting documentations used to develop the 5 -Year Consolidated Plan/Citizen Participation Plan. The Consultant shall also provide all digital files used in the creation of the Consolidated Plan, including but not limited to Geographic Information Systems files and data, Microsoft Office documents and data, photographs, and other graphics. Report drafts shall be provided in digital format. No fewer than three (3) bound hard copies of the final report shall be provided. All reports and information related to the Consolidated Plan will be the property of the City. ❑ I have read and understand these terms. (Required: Check if applicable) Page 12 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Specifications - Equity Plan U A. Complete an Equity Plan (Fair Housing Study) based on the current AFFH rules to take meaningful action to overcome patterns of segregation and foster inclusive communities free from barriers that restrict access to opportunity based on protected characteristics. B. Meaningful actions include: 1. Addressing significant disparities in housing needs and in access to opportunity. 2. Replacing segregated living patterns with truly integrated and balanced living patterns. 3. Transforming racially or ethnically concentrated areas of poverty into areas of opportunity. 4. Fostering and maintaining compliance with civil rights and fair housing laws. C. As an entitlement community, Iowa City must certify that we will affirmatively further fair housing in connection with our consolidated plans, annual action plans, and PHA plans. D. The consultant will collaborate with Iowa City's Neighborhood Services staff to develop an Equity Plan to address these meaningful actions following HUD's Interim Final Rule (or subsequent Final Rule under 24 CFR Part 5 as applicable). ❑ I have read and understand (Required: Check if applicable) Page 13 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Specifications - Equity Plan A. The Equity Plan shall include a fair housing analysis, community engagement, fair housing goals, and fair housing strategies described as follows: B. Fair Housing Analysis: Conduct an analysis to identify barriers/impediments to fair housing choice within the City of Iowa City and the Iowa City Housing Authority jurisdiction. The analysis must include: 1. Summary of history, key facts, and current demographics of jurisdiction/region. 2. General description of housing conditions, trends, and locations analysis of patterns of segregation and integration. 3. Analysis of RECAPS. 4. Discussion of regional policies that contribute to housing trends Availability of and access to community assets, affordable housing opportunities, homeownership and economic opportunities. 5. Identification of barriers in access to community assets, affordable housing opportunities, homeownership and economic opportunities. 6. Local and state policies and practices impacting fair housing. 7. The effectiveness of fair housing enforcement. 8. Review of current housing needs within jurisdiction/region identified through the Regional Housing Needs Analysis. 9. Description of fair housing issues identified, including conditions that constitute the fair housing issue and protected class groups that are adversely affected. 10. Discussion of past and current fair housing goals. 11. A discussion on data gaps. C. Community Engagement: Engage with the public throughout the development of the Equity Plan, from the identification of fair housing issues to the establishment of fair housing goals. The vendor must: 1. Hold at least three public meetings at various accessible locations and at different times. 2. Hold at least one meeting in a location where underserved communities disproportionately reside. 3. Reach out to local leaders and community-based organizations, including advocates, community groups, clergy, health-care providers, educations and service providers such as social workers and case managers, to gather community perspectives and provide fair housing planning information. D. Fair Housing Goals & Strategies: Develop a plan and set goals to take appropriate actions to overcome the effects of any impediments identified through the analysis. The plan and goals must Include: 1. Prioritization of fair housing issues with priority given to those that will result in the most effective fair housing goals for achieving material positive change for underserved areas of our community. 2. Recommendations to embed fair housing into administrative and discretionary decisions, where possible. 3. The Creation of an implementation plan to maintain records to reflect the analysis and actions taken toward overcoming impediments, and to evaluate efficacy of fair housing goals and corresponding actions taken. 4. The Incorporation of community engagement in implementation plan to ensure at least two public meetings are held annually in different locations, with one located in an area of the jurisdiction in which underserved communities predominately reside. ❑ I have read and understand (Required: Check if applicable) Page 14 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Specifications - Equity Plan 2 A. City Responsibilities: The City of Iowa City will expect the consultant to have the capacity to exercise independent judgment and to perform those actions necessary to complete the Plan. While the consultant will be working under the general direction of the City, it should be understood the City has limited professional staff capacity to support the project and will rely on the personnel, experience and expertise of the consultant to ensure all necessary components of the process are completed in a timely manner. The City believes it can supply all reasonable clerical support, printing and copying services, AN equipment and meeting location/scheduling services. B. As needed, the City will provide digital copies of existing plans, data and documents including: Contact lists of local agencies, neighborhood organizations, special interest groups and others to be invited to participate in the process. 1. Copies of zoning, subdivision and related land use regulations. 2. Information and recommendations developed by the Housing and Community Development Commission or other Council appointed committees. 3. FY2021-2025 Consolidated Plan (a.k.a. City Steps) and annual updates. 4. Affordable Housing Market Analysis, updated 2021. 5. Iowa City Housing Authority plans and reports. 6. Continuum of Care Reports. 7. Existing Citizen Participation Plan. 8. 2019 Analysis of Impediments of Fair Housing. 9. Facilities, meeting rooms, photocopying, phone, office space, and related services as needed. ❑ I have read and understand (Optional: Check if applicable) 2 Specifications - Equity Plan 3 A. Deliverables: The Consultant shall complete a written Equity Plan to be submitted to HUD. Consultant shall provide a resource summary to include, at a minimum, a list of data sources, copy of data collected, consultations, records, and other supporting documentations used to develop the Equity Plan. The Consultant shall also provide all digital files used in the creation of the Equity Plan, including but not limited to Geographic Information Systems files and data, Microsoft Office documents and data, photographs, and other graphics. Report drafts shall be provided in digital format. No fewer than three (3) bound hard copies of the final report shall be provided. All reports and information related to the Equity Plan will be the property of the City. ❑ I have read and understand (Required.: Check if applicable) Page 15 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 4 Specifications - Regional Housing Market Analysis A. The Cit is seeking a qualified vendor to develop a Regional Housing Needs Analysis that shall het Inform the Y� 9 q p 9 9 Y p overall Comprehensive Plan. B. Regional Housing Needs Analysis: The City is requesting a companion analysis to the Comprehensive Plan that would consider the housing needs of the region which should include portions of Johnson County and neighboring cities. Recognizing housing is a critical need for Iowa City and that movement within housing markets is not confined to municipal boundaries, the City would like to understand the local and regional dynamics impacting housing supply, demand, availability, and affordability. This analysis should include, but not be limited to, the following: 1. Population Characteristics (age, race, ethnicity, special needs, including the unhoused and immigrant populations). 2. Household Characteristics (household size and composition, tenure and ownership). 3. Income and Employment Trends (median income, labor market characteristics, unemployment). 4. Housing Stock Characteristics (building typologies, bedroom size, building age). 5. Housing Costs and Overcrowding and Tenure (cost burden, overcrowding rates). 6. Affordability (cost burden, current affordable housing stock, expiration of restrictions, affordable housing gaps). 7. Fee -in -Lieu Calculations (formula to determine a per-unit fee developers may opt to pay in lieu of providing affordable housing dwelling units) 8. Housing Demand (how many housing units are required to meet the local and regional housing needs, quantified by income, unit size, tenure, housing type). 9. Analysis of housing demand in identified geographies within the City of Iowa City. 10. Recommendation for prioritization of available funding for affordable housing considering need and cost- effectiveness. C. The City is also requesting that the Consultant consider the data needs of the HUD Consolidated Plan and Equity Plan. The data collected as part of the regional housing needs analysis should be provided to staff in a manner consistent with the Consolidated Plan requirements to reduce duplication of efforts through the process. The consultant should plan to provide city staff with the data, tables, graphs, and maps in a format consistent with a Consolidated Plan. ❑ I have read and understand (Required: Check if applicable) 2 Prohibited Interest 5 A. Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5 B. Your firm shall identify any relationship that has existed, or presently exists with the City of Iowa City and its staff that may interfere with fair competition or may be a possible conflict of interest for either party. If no relationship has existed or does not presently exist, the company must make this statement in the space provided below (companies are subject to disqualification on the basis of any potential for conflict of interest as determined by the City of Iowa City). (Required: Maximum 4000 characters allowed) Page 16 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 6 Liens, Unsatisfied Judgments, Disciplinary Actions A List any and all of the following that are current, pending, or occurring in the last five (5) years in the space provided below. 1. Disciplinary actions 2. Administrative proceedings 3. Malpractice claims 4. Other like proceedings against your company or any of its personnel relating to your firm's services B. If your company has no liens, unsatisfied judgments, or disciplinary actions that have occurred you must state this also in the space provided below. (Required: Maximum 4000 characters allowed) 2 7 Reference #1 Name (Required: Maximum 1000 characters allowed) 2 8 Reference #1 Address (Required.: Maximum 1000 characters allowed) 2 9 Reference #1 Phone Number (---)--- ---- ext:0 (Required) 3 0 Reference #1 Email (Required: Email address) 3 1 Reference #2 Name (Required: Maximum 1000 characters allowed) Page 17 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 3 2 Reference #2 Address (Required: Maximum 1000 characters allowed) 3 3 Reference #2 Phone Number F(---)--- ---- ext:0 (Required) 3 4 Reference #2 Email (Required: Email address) 3 5 Reference #3 Name (Required.: Maximum 1000 characters allowed) 3 6 Reference #3 Address (Required: Maximum 1000 characters allowed) 3 7 Reference #3 Phone Number F(---)--- ---- ext:0 (Required) 3 8 Reference #3 Email (Required: Email address) Bid Lines 1 Total not to exceed price including reimbursable expenses to provide Consulting Services for a Five -Year Consolidated Plan. Quantity: 1 Supplier Notes: UOM: EA Price: I $ Total: I $ ❑ No bid ❑ Alternate specification (Attach separate sheet) ❑ Additional notes (Attach separate sheet) Page 18 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Total not to exceed price including reimbursable expenses to provide Consulting Services for an Equity Plan. Quantity: 1 UOM: EA Price: $ Total: I $ Supplier Notes: No bid ❑ Alternate specification (Attach separate sheet) ❑ Additional notes (Attach separate sheet) 3 Total not to exceed price including reimbursable expenses to provide Consulting Services for a Regional Housing Needs Analysis. Quantity: 1 UOM: EA Price: $ Total: $ Supplier Notes: No bid ❑ Alternate specification (Attach separate sheet) ❑ Additional notes (Attach separate sheet) Page 19 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 Supplier Information Company Name: Contact Name: Address: Phone: Fax: Email: Suaalier Notes By submitting your response, you certify that you are authorized to represent and bind your company. Print Name Page 20 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 Appendix A General Requirements and Instructions to Vendors General Requirements and Instructions to Vendors The general rules and conditions which follow apply to all proposals issued by the City unless otherwise specified. Vendors or their authorized agents are expected to fully inform themselves as to the conditions, requirements, and specifications before submitting proposals; failure to do so shall be at the vendor's own risk. Request for Proposal (RFP): is defined as a request for an offer, by one party to another, of terms and conditions with reference to some work or undertaking. This document constitutes a Request for Proposal and is thus a solicitation for responses. Conversely, this Request for Proposal is not a bid and is not governed by state or federal bidding requirements. Moreover, any acceptance of a proposal shall not result in a binding contract between the City and the vendor, but instead will simply enable negotiations to take place which may eventually result in a detailed and refined agreement or contract between the vendor and the City. "Proposal date" as referenced herein shall mean the local date and time specified in the proposal documents. 1. Conditions for Proposing A. No Contact Policy. All questions regarding this Request for Proposal must be in writter form and must be submitted to the Purchasing Division, as stated above. After the date and time established for receipt of proposals by the City, any contact initiated by the vendor or by a City representative, other than the Purchasing Division representative listed herein, concerning this Request for Proposal is prohibited. Any such unauthorized contact may cause the disqualification of the vendor from the procurement transaction. Unless authorized by the Purchasing Division, no other City official or City employee is empowered to speak for the City with respect to this acquisition. Any vendor seeking to obtain information, clarification, or interpretations from any other City official or City employee other than the Purchasing Division is advised that such material is used at the vendor's own risk. The City will not be bound by any such information, clarification, or interpretation. Following the Proposal submittal deadline, Vendors shall not contact the Purchasing Division or any other City employee except to respond to a request by the Purchasing Division. B. Completeness/Authorization of Proposal. vendor shall supply all information and submittals required by the proposal documents to constitute a proper proposal. The proposal shall clearly state the legal name, address, telephone number, and email of primary contact (signer) of the vendor. The proposal shall be signed above the typed or printed name and title of the signer. The signer shall have the legal authority to bind the vendor to the proposal. C. Bid Deadline/Opening. Vendors shall be responsible for taking whatever measures are necessary to ensure that the bid is entered and submitted to the Ion Wave website on or before the local time and date specified. The City shall not be responsible for, and will not consider, any bid not submitted through the Ion Wave website. This includes but is not limited to faxed bids, e-mailed bids, shipped bids, mailed bids, or hand delivered bids. Bids can be withdrawn through the Ion Wave website before the specified opening date. Vendors and/or their authorized agents may be present if a formal bid opening is held, at which time all bids shall be opened, and cost data read aloud. Due to public health concerns surrounding a pandemic, bid openings may not be open to the public. If this occurs, bids will be opened and read verbally over the phone until all bids have been opened. If you wish to participate in this bid opening contact the representative in charge of this bid event. Bids received after the time and date specified on the request for bid will not be opened and will not be considered for award. D. Receipt of Proposals. Unless otherwise required by the Iowa Public Records law, during the process of negotiations, no proposals shall be handled so as to permit disclosure to competing Vendors of the identity of the vendor with whom the City is negotiating or the contents of the proposal. E. Proposals Binding 120 Days. Unless otherwise specified, all formal proposals, including any negotiations, submitted shall be binding for one hundred and twenty (120) working days following the due date for the proposal or negotiations, unless the vendor(s), at the City's request, agrees in writing to an extension. F. Multiple Proposals. Vendors may submit more than one proposal, provided the additional proposal or proposals are properly submitted on the proposal forms or in the proposal format. G. Competency of vendor. No proposal may be accepted from or contract awarded to any person, firm or corporation that is in arrears or in default to the City of Iowa City upon any debt or contract. Prior failure of a vendor to perform faithfully on any previous contract or work for the City may be grounds for rejection. If requested, the vendor shall present evidence of performance ability and possession of necessary facilities, pecuniary resources and adequate insurance to comply with the terms of these proposal documents; such evidence shall be presented within a specified time and to the satisfaction of the City. H. Collusive Proposing. The vendor certifies that the proposal is made without any previous understanding, agreement or connection with any person, firm, or corporation making a proposal for the same project, without prior knowledge of competitive prices, and that the proposal is in all respects fair, without outside control, collusion, fraud or otherwise illegal action. Equal Employment Opportunity. All Vendors are subject to and must comply with the provisions of the City's Equal Employment Opportunity policy and applicable local, state and federal antidiscrimination laws. All City contractors, subcontractors, vendors or consultants with contracts of $25,000 or more (or less, if required by another governmental agency) must abide by the requirements of the City's Contract Compliance. Emergency contracts are exempt from this provision. J. Samples/Literature Required. When required, each Vendor shall submit samples and/or catalogs, descriptive literature, detailed drawings, and other information necessary to fully describe the proposed commodity or service. Vendor shall bear the cost of and make arrangements for the delivery and removal of samples to the specified location. The City may retain awarded Vendor's samples until delivery of contracted commodities and/or service has been completed and accepted. Unsuccessful Vendors shall remove samples as soon as possible after bid award. The City shall not be responsible for such samples if not removed by the Vendor within thirty (30) calendar days after the award has been made. K. Wage Theft. All City contractors with contracts of $25,000 or more must abide by the requirements of the City's Wage Theft Policy. Pursuant to the Wage Theft Policy, the City will not to enter into certain contracts with, or provide discretionary economic development assistance to, any person or entity (including an owner of more than 25% of the entity) who has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willful violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, for a period of five (5) years from the date of the last conviction, entry of plea, administrative finding or admission of guilt. The Wage Theft Policy does not apply to emergency purchases of goods and services, emergency construction or public improvement work, sole source contracts excepted by the City's purchasing manual, cooperative/piggyback purchasing or contracts with other governmental entities. L. Bid Summary. Summary of bid award made will be posted to the Ion Wave web -site at https://icqov.ionwave.net/Login.aspx M. Bid Security. When required, no proposal shall be considered unless accompanied by either of the following forms of bid security: 1) A certified or cashier's check drawn on a solvent Iowa bank or a bank chartered under the laws of the United States, or a certified share draft drawn on a credit union in Iowa or chartered under the laws of the United States, in an amount equal to a minimum of five percent (5%) of the bid, or 2) A bid bond executed by a corporation authorized to contract as a surety in the State of Iowa, in a penal sum of a minimum of five percent (5%) of the bid. The bid security shall be made payable to the Treasurer of the City of Iowa City, and shall be forfeited to the City of Iowa City as liquidated damages in the event the successful Vendor fails to enter into a contract within fourteen (14) calendar days and, when required, post bond satisfactory to the City insuring the faithful performance of the contract and maintenance of said work, if required, pursuant to the provisions of the bid documents and other contract documents. The amount of the check, draft or bond shall not constitute a limitation upon the right of the City of Iowa City, Iowa, to recover for the full amount of such damage. Security deposits of the lowest two (2) or more Vendors may be retained pending contract award or rejection. All other security deposits will be returned promptly. 2. Specifications A. Formal Specifications. The vendor shall abide by and comply with the true intent of the specifications (i.e., not take advantage of any unintentional error or omission and bring this information to the attention of the City). Whenever mention herein is made of a service to be provided in accordance with laws, ordinances, building codes, underwriters' codes or similar expressions, the requirements of these laws, ordinances, etc., shall be construed as the minimum requirements of the specifications. The absence of a written list of deviations submitted with the proposal shall hold the vendor strictly accountable to the City and to the specifications as written. Any unauthorized deviation from the specifications may be grounds for rejection of the service when delivered. B. Proposed Alternate. When an item is identified in the bid document by a manufacturer's name or catalog number, it is understood that the vendor proposes to furnish the commodity and/or service so identified by the City unless the vendor specifically proposes an alternate. In bidding on a proposed alternate, the vendor shall clearly state on his/her bid exactly what he/she proposes to furnish, and forward with his/her bid, a complete description of the proposed alternate, including brand, model number, drawings, performance and test data, references, and any other information necessary for a complete evaluation. vendor shall include a statement setting forth any changes in other materials, equipment, or other work which would be required by incorporation of the proposed alternate. The burden of proof of the merit of the proposed alternate is upon the vendor. The City's decision to approve or disapprove of a proposed alternate shall be final. C. Qualifications, Credentials and References. The vendor shall provide a description of qualifications, credentials, experience, and resources as they relate to the provision of the proposal. The vendor shall also provide a list of clients for whom similar work has been performed within the last two years, including the firm, contact person, address, and phone number of each contact person. D. Addendum to Specifications. Any substantive interpretation, correction or change of the bid documents shall be made by addendum. Unless otherwise specified the addendum will be posted to the Ion Wave website https://icgov.ionwave.net/Login.aspx. Interpretation, corrections or changes of the bid documents made in any other manner shall not be binding, and Vendors shall not rely upon such interpretations, corrections or changes. Any addendum shall be issued by the City within a reasonable time prior to the bid date. It is the Vendor's responsibility to visit this website to ensure that they have received all important addenda or revisions to the Invitation to Bid prior to bidding. E. Receipt of One Proposal. In the event only one proposal is received, the City of Iowa City may require that the successful vendor submit a cost proposal in sufficient detail for the City to perform a cost/price analysis to determine if the proposal price is fair and reasonable. 3. Selection of Firm A. Rejection of Proposals. The City reserves the right to accept or reject any or all proposals, to waive irregularities and technicalities, and to request resubmission. The City also reserves the right to reject the proposal of any vendor who has previously failed to perform properly or complete on time contracts of a similar nature, or a proposal from a vendor who, investigation shows, is not able to satisfactorily and timely perform the contract. B. Selection. The City desires to enter into negotiations and ultimately reach an agreement with a vendor who demonstrates the best combination of attributes to conduct the project, and who also negotiates a project cost with the City that is fair and reasonable. The City may conduct discussions with any vendor who has submitted a proposal to determine qualifications, for further consideration. Since the initial review by the City will be deemed preliminary in nature, the document and process will be deemed confidential until such time as the successful vendor is selected. Criteria for selection will include but not be limited to: 1) The quality, availability, adaptability and life cycle costing of the commodities and/or service. 2) Guarantees and warranties. 3) Ability, capacity and skill to provide the commodities and/or service required within the specified time. 4) Ability to provide future maintenance and service. 5) Character, integrity, reputation, experience and efficiency. 6) Quality of performance of previous and/or existing contracts. 7) Previous and existing compliance with laws and ordinances relating to contracts with the City and to the vendor's employment practices. 8) Whether the vendor is in arrears to the City, in debt on a contract or is a defaulter on surety to the City. 9) If reasonable doubts arise as to vendor's solvency, the City reserves the right to require financial information sufficient to show solvency and/or require a performance bond. 10) Such other relevant information as may be secured by the City. 11) Cost estimate; the City is not required to accept the proposal with the lowest cost estimate. Once the City has reached an agreement with the vendor, a purchase order will be issued to the awardee. The purchase order will define the conditions of the contract between the City and the contractor selected to receive the award. C. Corrections to Submitted Proposal. Any changes that are made to attached documents of this proposal using correction fluid, writing utensils, etc. before submission must be dated and initialed in each area that a change was made. D. Presentations. When required and based on an evaluation of proposals submitted, the City may select finalists who will be required to participate in interviews, including key personnel designated for the proposal, and to make presentations regarding their qualifications and their ability to furnish the required service to best serve the needs of the City. Formal presentations will be scored and evaluated by a committee. The evaluation committee will make a recommendation to the City Manager and if required, to the City Council for final approval. Nothing in the proposal can obligate the City to enter into a contract. E. Errors in Proposal. Any ambiguity in any proposal as a result of omission, error, lack of clarity or noncompliance by the vendor with specifications, instructions and conditions shall be construed in the light most favorable to the City. 4. General Contract Provisions A. Contract Award. Upon City's selection and satisfactory negotiation between City and vendor on the work to be performed, a written award in the form of a Purchase Order, contract or other instrument shall result in a binding contract without further action by either party. The contract shall be on forms provided by the City; or if the vendor's contract document is used, the City reserves the right to modify any document to conform to the request for proposal and to do so in the light most favorable to the City. B. Insurance. Current Certificate of Insurance in the amounts specified shall be on file with the City before work can commence. C. Availability of Funds. A contract shall be deemed valid only to the extent of appropriations available to each project. The City's extended obligation on these contracts which envision extended funding through successive fiscal periods shall be contingent upon actual appropriation for the following fiscal year. Revised 5/28/2019 Appendix B General Terms and Conditions City of Iowa City General Terms and Conditions A. Insurance Requirements: 1. Certificate of Insurance: Cancellation or Modification a. Before commencing work, the Vendor shall submit to the City for approval of a Certificate of Insurance meeting all requirements specified herein, to be in effect for the full contract period i. The City of Iowa City will be named as additional insured ii. Project bid number and project title will be in the description iii. Insurance carriers will be rated as A or better by A.M. Best b. The Vendor shall notify the City in writing at least thirty (30) calendar days prior to any change or cancellation of said policy or policies. c. Cancellation or modification of said policy or policies shall be considered just cause for the City of Iowa City to immediately cancel the contract and/or to halt on the contract, and to withhold payment for any work performed on the contract. d. The policy shall be primary in payment, not excess or contingent, regardless of any other coverage available to the City. 2. Minimum Coverage a. Any policy or policies of insurance purchased by the Vendor to satisfy his/her responsibilities under this contract shall include contractual liability coverage, and shall be in the following type and minimum amounts: Informal Project Specs: Class I (under $1 M) Type of Coverage a. Comprehensive General Liability (1) Bodily Injury & Property Damage b. Automobile Liability Each Aggregate Occurrence $500,000 $1,000,000 Combined Single Limit (1) Bodily Injury & Property Damage $500,000 c. Worker's Compensation Insurance as required by Chapter 85, Code of Iowa When Additionally Required: Errors and Omissions Fidelity Bond (minimum) $500,000 $50,000 Formal Project Specs: Class II (over $1 M) Type of Coverage a. Comprehensive General Liability (1) Bodily Injury & Property Damage b. Automobile Liability (1) Bodily Injury & Property Damage Each Aggregate Occurrence $1,000,000 $2,000,000 Combined Single Limit $1,000,000 c. Excess Liability $1,000,000 $1,000,000 d. Worker's Compensation Insurance as required by Chapter 85, Code of Iowa. 3. Performance Bond When required, the successful Bidder shall furnish a bond in the amount of one hundred percent (100%) of the contract price, said bond to be issued by a responsible surety approved by the City and shall guarantee the prompt payments of all materials and labor and protect and save harmless the City from claims and damages of any kind caused by the operation of the contract, and shall also guarantee the maintenance of the improvement for a specified period following its completion and acceptance by the City. A letter of Irrevocable Credit from a responsible lending agency approved by the City, for the same guarantee(s) as noted above, may be submitted for approval. The City reserves the right to accept or reject this form of guarantee. 4. Indemnity The Vendor shall indemnify, defend and hold harmless the City of Iowa City and its officers, employees, and agents from any and all liability, loss, cost, damage, and expense (including reasonable attorney's fees and court costs) resulting from, arising out of, or incurred by reason of any claims, actions, or suits based upon or alleging bodily injury, including death, or property damage rising out of or resulting from the Vendor's operations under this Contract, whether such operations be by himself or herself or by any Subcontractor or by anyone directly or indirectly employed by either of them. Vendor is not, and shall not be deemed to be, an agent or employee of the City of Iowa City. Responsibility for Damage Claims - It is specifically agreed between the parties executing this contract that it is not intended by any of the provisions of any part of the contract documents to create in the public or any member thereof a third party beneficiary hereunder, or to authorize anyone not a party to this contract to maintain a suit for personal injuries or property damage pursuant to the terms or provisions of this contract. It is understood that no subcontractor is a third -party beneficiary to any contract between the City and the prime Vendor. Nothing in any special provision or any supplemental specification shall be construed as eliminating or superseding the requirements of this section. Vendor further agrees to: Save the City its agents and employees harmless from liability of any nature or kinc for the use of any copyright or non -copyright composition, secret process, patented or unpatented invention, article, apparatus or appliance including any device or article forming a part of the apparatus or appliance furnished or used in the performance of the contract of which the Vendor is not the patentee, assignee, licensee or owner. b. Protect the City against latent defective material or workmanship and to repair or replace any damages or marring occasioned in transit or delivery. c. Furnish adequate protection against damage to all work and to repair damages of any kind, to the building or equipment, due to Vendor's own work or to the work of other Vendors, for which the Vendor is responsible. Obtain all permits and licenses required by City, state, and federal governments and pay all related fees. The Vendor shall also comply with all laws, ordinances, rules and regulations of the City, State of Iowa and the Federal Government. B. Availability of Funds: A contract shall be deemed executory only to the extent of appropriations available to each department for the purchase of such commodities and/or service. The City's extended obligation on these contracts which envision extended funding through successive fiscal periods shall be contingent upon actual appropriation for the following fiscal year. C. Change in Laws: In the event of a change in law that frustrates the goals of the City relative to this contract, the City will be entitled to terminate the contract upon written notification to the Vendor without cost or penalty to the City. D. Contract Alterations: The City reserves the right to make changes to the Goods/Services to be provided which are within the Scope of this Contract. No assignment, alteration, change, or modification of the terms of this Agreement shall be valid unless made in writing and agreed to by both the City and the Vendor. The Vendor shall not commence any additional work or change the scope of the Goods/Service until authorized in writing by the City. Vendor shall make no claim for additional compensation in the absence of a prior written approval and amendment of this Agreement executed by both the Vendor and the City. This Agreement may only be amended, supplemented or modified by a written document executed in the same manner as this Agreement. E Subletting of Contract: Vendor shall not assign, transfer, convey, sublet or otherwise dispose of any right, title or interest therein, or his/her power to execute such contract, to any other person, firm or corporation, without the prior written consent of the City, but in no case shall such consent relieve the Vendor from his/her obligations, or change the terms of contract. Contract Period. Contract shall remain in force for a full period specified and until all commodities and/or services ordered before date of termination shall have been satisfactorily delivered and accepted and thereafter until all requirements and conditions shall be met, unless: a. Extended upon written authorization of the City and accepted by Vendor, to permit ordering or unordered balances or additional quantities at contract prices and in accordance with contract terms. b. Extended upon written authorization of the City and accepted by Vendor, for a period negotiated and agreed upon by both parties, when in the best interest of the City. c. Terminated due to default, as described below. F. Default: The contract may be cancelled or annulled by the City in whole or in part by written notice of default to the Vendor upon non-performance, violation of contract terms, delivery failure, bankruptcy or insolvency, or the making of an assignment for the benefit of creditors. An award may then be made to next low bidder, or when time is of the essence, similar commodities and/or service may be purchased on the open market. In either event, the defaulting Vendor (or his/her surety) shall be liable to the City for cost to the City in excess of the defaulted contract price. Lack of knowledge by the Vendor will in no way be a cause for relief from responsibility. G. Delivery Failures: Failure of a Vendor to provide commodities and/or service within the time specified, unless extended in writing by the City, or failure to replace rejected commodities and/or service when so directed by the City shall constitute delivery failure. When such failure occurs, the City reserves the right to cancel or adjust the contract, whichever is in the best interest of the City. In either event, the City may purchase in the open market commodities and/or service of comparable worth to replace the articles of service rejected or not delivered. On all such purchases, the Vendor shall reimburse the City, within a reasonable time specified by the City, for any expense incurred in excess of contract prices, or the City may deduct such amount from monies owed the Vendor. If the contract is not cancelled, such purchases shall be deducted from contract quantities. The City reserves the right to accept commodities and/or service delivered which do not meet specifications or are substandard in quality, subject to an adjustment in price to be determined by the City. H. Force Majeure: The Vendor shall not be liable in damages for delivery failure when such failure is the result of fire, flood, strike, act of God, act of government, act of an alien enemy or any other circumstances which, in the City's opinion, is beyond the control of the Vendor. Under such circumstances, however, the City may at its discretion cancel the contract. The City shall not be liable in damages for any payment failure and may suspend or terminate the contract with respect to delivery of any additional goods or services when such failure , suspension or termination is the result of fire, flood, strike, act of God, act of government, act of an alien enemy or any other circumstances which, in the City's opinion, is beyond the City's control. Under such circumstances, however, the Vendor may at its discretion cancel the contract. L New Goods Fresh Stock: All contracts, unless otherwise specified, shall produce new commodities, fresh stock, latest model, design or pack. J. Professional Workmanship: Professional workmanship shall meet or exceed existing industry standards. K. Occupational Safety and Health Administration Requirements: All commodities and/or service shall satisfactorily comply with applicable Occupational Safety and Health Administration regulations in effect at the time commodities are shipped and/or the service is performed. Safety Data Sheets are required in accordance with applicable regulations. L. Anti -Discrimination: Vendor shall not discriminate against any person in employment or public accommodation because of race, religion, color, creed, gender identity, sex, national origin, sexual orientation, mental or physical disability, marital status or age. "Employment" shall include but not be limited to hiring, accepting, registering, classifying, promoting, or referring to employment. "Public accommodation" shall include but not be limited to providing goods, services, facilities, privileges and advantages to the public. M. Delivery Provisions: 1. Cartage. All items shall be delivered free on -board destination. Delivery costs and charges must be included in the bid unless otherwise stated in the specifications or proposal. 2. Responsibility for commodities and/or services. The Vendor shall be responsible for any commodities and/or service covered by this contract until they are delivered at the designated point, but the Vendor shall bear all risk for rejected commodities and/or service after written notice of rejection. Rejected commodities and/or service shall be removed and/or replaced by and at the expense of the Vendor promptly after written notification of rejection, unless public health and safety require destruction or other disposal of rejected delivery. Upon Vendor's failure to do so within thirty (30) calendar days after the date of notification, the City may return the rejected commodities to the Vendor and/or replace services at the Vendor's risk and expense, or the City may dispose of them as its own property. 3. Inspections. Final inspection of commodities and/or service shall be conclusive except as regards latent defects, fraud, or such gross mistakes that amount to fraud. Final inspection and acceptance or rejection of the commodities and/or service shall be made within a reasonable time after delivery, but failure to inspect and accept or reject commodities and/or service shall not impose liability on the City if such commodities and/or service are not in accordance with the specifications. All delivered commodities shall be accepted subject to inspection and physical count. 4. Time of Delivery. Vendor shall guarantee delivery of supplies in accordance with such delivery schedule as may be provided in the specifications and proposals. If delivery schedules are not provided in the specifications section, deliveries will be accepted between 8:30 a.m. and 3:30 p.m. on weekdays only. No deliveries shall be accepted on Saturdays, Sundays or holidays, unless otherwise authorized. 5. Packing Slips or Delivery Tickets. All shipments or deliveries shall be accompanied by packing slips or delivery tickets and shall contain the following information for each item delivered: • Name and Address of Ordering Department/Division. • Name of the Vendor. • Commodity name. • Supplier's stock number. • Quantity ordered. • Quantity and date shipped. • Quantity back ordered. Vendors are cautioned that failure to comply with these conditions may be considered sufficient reason for refusal to accept the commodities and/or for delay in payment. N. Warranty/Guarantee: The Vendor warrants that all articles, materials and services performed shall be consistent with manufacturer's specifications and will be free from defects. From the post acceptance by the City of Iowa City of the items delivered and installed Vendor shall provide a one (1) year warranty to include all hardware, parts, software, software updates, shipping costs, labor, travel, and service calls. If, within the guarantee period, any defects or signs of deterioration are noted which in the City's opinion are due to faulty design, installation, workmanship, or materials, the Vendor, upon notification and at his/her expense, shall repair or adjust the equipment or parts to correct the condition or he/she shall replace the part or entire unit to the complete satisfaction of the City. These repairs, replacements or adjustments shall be made only at such time as shall be designated by the City as least detrimental to the operation of the City business. Vendor will replace, at its own expense, any project component that does not meet departmental expectations within three (3) to five (5) business days of installation without limitation of any rights which the City may have by reason of any breach of warranty. Regardless of any statement to the contrary, the Vendor agrees that the implied warranty of merchantability and fitness for a specific purpose is not disclaimed. O. Discrepancies: In the event that there are any discrepancies or differences between any conditions of the Vendor's quote and the General Terms and Conditions prepared by the City of Iowa City, the City's General Terms and Conditions shall prevail. All costs associated with this project must be included in the Vendor's submitted quote. The total project cost for complete repair must include all costs for required equipment, supplies, shipping, labor, and travel needed for the full functionality and use of the equipment. Any costs not specifically set forth in this Quote will be the responsibility of the Vendor and will be deemed included in the fees and charges bid herein. P. Choice of Law and Forum: The laws of the State of Iowa shall govern and determine all matters arising out of or in connection with this contract, without regard to the conflict of law provisions of Iowa law. Any and all litigation commenced in connection with this contract shall be brought and maintained solely in Johnson County District Court for the State of Iowa, Iowa City, Iowa, or in the United States District Court for the Southern District of Iowa, Davenport Division, Davenport, Iowa, wherever jurisdiction is appropriate. This provision shall not be construed as waiving any immunity to suit or liability in State or Federal court, which may be available to the City. Q. Trade Secrets or Propriety information: Responses to this Request for Bid become the exclusive property of the City of Iowa City. Al documents submitted in response to this Request for Bid may be regarded as public records and may be subject to disclosure. During the course of the submittal evaluation process or the course of the project, City of Iowa City will accept materials clearly and prominently labeled "Trade Secret", "Confidential", or "Proprietary" by the respondent or other submitting party. The City of Iowa City will not advise as to the nature of the content of the documents entitled to protection to disclosure, or as to the definition of trade secret, confidential, or proprietary information. The respondent or other submitting party will be solely responsible for all such determinations made by it, and for clearly and prominently marking each and every page or sheet of materials with "Trade Secret", "Confidential", or "Proprietary" as it determines to be appropriate. Respondents which indiscriminately so identify all or most of their submittal as protected from disclosure without justification may be deemed non- responsive. The City will endeavor to advise the Vendor of any request for material under the Iowa Open Records Act (Iowa Code Chapter 22) that the Vendor has marked "Trade Secret", "Confidential" or "Proprietary" by giving the Vendor 5 calendar days notice of such request prior to release of the material so marked to enable the Vendor to seek a court order to protect such materials from disclosure. The City's sole responsibility is to notify the proposer of the request for disclosure, and the City of Iowa City shall not be liable for any damages resulting out of such disclosure, whether such disclosure is deemed required by law, by an order of court or administrative agency, or occurs through inadvertence, mistake, or negligence on the part of the City of Iowa City or its officers, employees, consultants, or subconsultants. R. City Officers and Employees not to benefit., Upon signing this agreement, Vendor acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this contract, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5 S. Payment Provisions: 1. Payment Terms. Payment may be made only after inspection and acceptance by the using department and, when required, approval by the City Council. No partial payments shall be made unless otherwise authorized by the City, or unless commodities were constructed, erected, installed or tested on site, in which case payment shall be made on the basis of a percentage of the value of all work performed less any previous payments. Payment of balances shall be made only after approval and final acceptance by the City. 2. Withholding Payment. Consideration for withholding payment shall include faulty materials, equipment, or workmanship, back orders, and liens that have been filed, or evidence indicating a possible filing of claims. In all cases, regulations and limitations imposed by the Federal Government and State of Iowa shall prevail. 3. Invoicing. Following acceptance, payment shall be made within thirty (30) calendar days from receipt of proper invoice. Invoice shall include project number, purchase order number, department name, dollar amount, and any other pertinent information. 4. Taxes. The City of Iowa City is exempt from all Federal, State of Iowa and other states' taxes on the purchase of commodities and services used by the City of Iowa City within the State of Iowa. The Purchasing Division shall provide tax exemption certification to out of state suppliers as required. Out of state taxes imposed on purchases of commodities and/or services which are used within another state are applicable and subject to payment. Vendors shall bill the City Accounting Division, including tax, for contracts pertaining to the alteration, construction or repair of real property. The Vendor shall provide the necessary Iowa Department of Revenue Contractor's Statement (one contractor's statement for each subcontractor). The Accounting Division shall then contact the State of Iowa for tax reimbursement. Vendors and subcontractors shall pay all legally required sales, consumer and use taxes on all commodities and/or services purchased or rented to complete their contract. If a Vendor, subcontractor, or builder is to use building materials, supplies, and equipment in the performance of a construction contract with a designated exempt entity, the person shall purchase such items of tangible personal property without liability for the tax if such property will be used in the performance of the construction contract and a purchasing agent authorization letter and an exemption certificate, issued by the designated exempt entity, are presented to the retailer. Appendix C Wage Theft Affidavit Wage Theft Policy It is the policy of the City of Iowa City, as expressed by City Council Resolution No. 15-364 adopted on November 10, 2015, not to enter into certain contracts with, or provide discretionary economic development assistance to, any person or entity (including an owner of more than 25% of the entity) who has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willftd violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, for a period of five (5) years from the date of the last conviction, entry of plea, administrative finding or admission of guilt. (hereinafter "Wage Theft Policy') 1. Application. The Wage Theft Policy applies to the following: a. Contracts in excess of $25,000 for goods, services or public improvements. b. Contracts for discretionary economic development assistance. "Discretionary" economic development assistance shall mean any economic development assistance provided by the City of Iowa City that is not required by law. 2. Exceptions. The Wage Theft Policy does not apply to emergency purchases of goods and services, emergency construction or public improvement work, sole source contracts excepted by the City's purchasing manual, cooperative/piggyback purchasing or contracts with other governmental entities. 3. Affidavit. The contracting entity must complete the attached affidavit showing compliance with the Wage Theft Policy and submit it along with the request for bid or request for proposal required documents. Contract provision: Any contract to which this policy is applicable will include the following contract provision: If the City becomes aware that a person or entity (including an owner of more than 25% of the entity) has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willful violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, within the five (5) year period prior to the award or at any time after the award, such violation shall constitute a default under the contract. 4. Waivers. If a person or entity is ineligible to contract with the City as a result of the Wage Theft Policy it may submit a request in writing indicating that one or more of the following actions have been taken: a. There has been a bona fide change in ownership or control of the ineligible person or entity; b. Disciplinary action has been taken against the individual(s) responsible for the acts giving rise to the violation(s); c. Remedial action has been taken to prevent a recurrence of the acts giving rise to the disqualification or default; or d. Other factors that the person or entity believes are relevant. The City Manager or Designee shall review the documentation submitted, make any inquiries deemed necessary, request additional documentation if warranted and determine whether a reduction in the ineligibility period or waiver is warranted. Should the City Manager or Designee determine that a reduction or waiver of the ineligibility period is warranted the City Manager or Designee shall make such recommendation to the City Council. The City Council will make a final decision as to whether to grant a reduction or waiver. Wage Theft Affidavit 1, , certify under penalty of perjury and pursuant to the laws of the State of Towa that the following is true and correct: I am the (position) of ("contracting entity") and have the authority to execute this affidavit on behalf of said contracting entity and any person or entity with an ownership interest in said contracting entity of more than 25%. 2. Neither (contracting entity) nor any person or entity with an ownership interest of more than 25% of said contracting entity has been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willfiil violation of the Iowa Wage Payment Collection Law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statue of local ordinance, which governs the payment of wages in the last 5 years. Signature Appendix D Contract Compliance Document City of Iowa City Contract Compliance Document (To be completed by awarded vendor only) General Policy Statement It is the policy of the City of Iowa City to require equal employment opportunity in all City Contract work. This policy prohibits discrimination by the City's contractors, consultants and vendors and requires them to ensure that applicants seeking employment with them and their employees are treated equally without regard to race, color, creed, religion, national origin, sex, gender identity, sexual orientation, disability, marital status, and age. It is the City's intention to assist employers, who are City contractors, vendors or consultants, in designing and implementing equal opportunity so that all citizens will be afforded equal accessibility and opportunity to gain and maintain employment. Provisions: 1. All contractors, vendors, and consultants requesting to do business with the City must submit an Equal Opportunity Policy Statement before the execution of the contract_ 2. All City contractors, vendors, and consultants with contracts of $25,000 or more (or less) if required by another governmental agency) must abide by the requirements of the City's Contract Compliance Program. Emergency contracts may be exempt from this provision at the discretion of the City. Regardless of the value of the contract, all contractors, vendors, and consultants are subject to the City's Human Rights Ordinance, which is codified at Article 2 of the City Code. 3. Contracting departments are responsible for assuring that City contractors, vendors, and consultants are made aware of the City's Contract Compliance Program reporting responsibilities and receive the appropriate reporting forms. A notification of requirements will be included in any request for proposal and notice of bids. 4. Contracting departments are responsible for answering questions about contractor, consultant, and vendor compliance during the course of the contract with the City. 5_ All contractors, consultants and vendors must refrain from the use of any signs or designations which are sexist in nature, such as those which state `'Men Working" or "Flagman Ahead", and instead use gender neutral signs. 6. All contractors, consultants, and vendors must assure that their subcontractors abide by the City's Human Rights Ordinance. The City's protected classes are listed at Iowa City City Code section 2-3-1. Suggested steps to assure Equal Employntent Opportunities 1. Company Policy Determine your company's policy regarding equal employment opportunities. Document the policy and post it in a conspicuous place so that it is known to all your employees. Furthermore, disseminate the policy to all potential sources of employees and to their subcontractors asking their cooperation. The policy statement should recognize and accept their responsibility to provide equal employment opportunity in all your employment practices. In regard to dissemination of this policy, this can be done, for example, through the use of letters to al I recruitment sources and subcontractors, personal contacts, employee meetings, web page postings, employee handbooks, and advertising_ 2. Equal Employment Opportunity Officer Designate an equal employment opportunity officer or, at a minimum, assign someone the responsibility of administering and promoting your company's Equal Employment Opportunity program. This person should have a position in your organization which emphasizes the importance of the program. 3_ Instruct Staff Your staff should be aware of and be required to abide by your Equal Employment Opportunity program. All employees authorized to hire, supervise, promote, or discharge employees or are involved in such actions should be trained and required to comply with your policy and the current equal employment opportunity laws. 4. Recruitment (a) Let potential employees know you are an equal opportunity employer. This can be done by identifying yourself on all recruitment advertising as "as equal opportunity employer". (b) Use recruitment sources that are likely to yield diverse applicant pools. Word-of-mouth recruitment will only perpetuate the current composition of your workforce. Send recruitment sources a letter annually which affirms your commitment to equal employment opportunity and requests their assistance in helping you reach diverse applicant pools. (c) Analyze and review your company's recruitment procedures to identify and eliminate discriminatory barriers. (d) Select and train persons involved in the employment process to use objective standards and to support equal employment opportunity goals. (c) Review periodically job descriptions to make sure they accurately reflect major job functions. Review education and experience requirements to make sure they accurately reflect the requirements for successful job performance. (f) Review thejob application to insure that onlyjob related questions are asked. Ask yourself "Is this information necessary to judge an applicant's ability to perform the job applied for?" Only use job-related tests which do not adversely affect any particular group of people. (g) Monitor interviews carefully. Prepare interview questions in advance to assure they are only job related. Train your interviewers on discrimination laws. Biased and subjective judgments in personal interviews can be a major source of discrimination (h) Improve hiring and selection procedures and use non -biased promotion, transfer and training policies to increase and/or improve the diversity of your workforce representation. Companies must make sure procedures for selecting candidates for promotion, transfer and training are based upon a fair assessment of an employee's ability and work record. Furthermore, al companies should post and otherwise publicize alt job promotional opportunities and encourage all qualified employees to bid on them. Below for your information is a copy of Section 2-3-1 of the Iowa City Code of Ordinances which prohibits certain discriminatory practices in employment as well as a sample policy. Please note that the protected characteristics include some not mandated for protection by Federal or State law. As a contractor, consultant or vendor doing business with the City of Iowa City you are required to abide by the provisions of the local ordinance in conjunction with your performance under a contract with the City. 2-3-1: Employment; Exceptions_ A. It shall be unlawful for any employer to refuse to hire, accept, register, classify, promote or refer for employment, or to otherwise discriminate in employment against any other person or to discharge any employee because of age, color, creed, disability, gender identity, marital status, national origin, race, religion, sex or sexual orientation. (Ord. 03-4105, 12-16-2003) B_ It shall be unlawful for any labor organization to refuse to admit to membership, apprenticeship or training an applicant, to expel any member, or to otherwise discriminate against any applicant for membership, apprenticeship or training or any member in the privileges, rights or benefits of such membership, apprenticeship or training because of age, color, creed, disability, gender identity, marital status, national origin, race, religion, sex or sexual orientation of such applicant or member. C. It shall be unlawful for any employer, employment agency, labor organization or the employees or members thereof to directly or indirectly advertise or in any other manner indicate or publicize that individuals are unwelcome, objectionable or not solicited for employment or membership because of age, creed, disability, gender identity, marital status, national origin, race, religion, sex or sexual orientation_ (Ord_ 95-3697, 11-7-1995) D. Employment policies relating to pregnancy and childbirth shall be governed by the following: • A written or unwritten employment policy or practice which excludes from employment applicants or employees because of the employee's pregnancy is aprima facie violation of this title_ • Disabilities caused or contributed to by the employee's pregnancy, miscarriage, childbirth and recovery therefrom are, for all job-related proposes, temporary disabilities and shall be treated as such under any health or temporary disability insurance or sick leave plan available in connection with employment or any written or tmwritten employment policies and practices involving terms and conditions of employment as applied to other temporary disabilities. E. It shall be unlawful for any person to solicit or require as a condition of employment of any employee or prospective employee a test for the presence of the antibody to the human immunodeficiency virus. An agreement between employer, employment agency, labor organization or their employees, agents or members and an employee or prospective employee concerning employment, par or benefits to an employee or prospective employee in return for taking a test for the presence of the antibody to the human immunodeficiency virus is prohibited. The prohibitions of this subsection do not apply if the state epidemiologist determines and the director of public health declares through the utilization of guidelines established by the center for disease control of the United States department of health and human services, that a person with a condition related to acquired immune deficiency syndrome poses a significant risk of transmission of the human immunodeficiency virus to other person in a specific occupation. F. The following are exempted from the provision of this section: • Any bona fide religious institution or its educational facility, association, corporation or society with respect to any qualifications for employment based on religion when such qualifications are related to a bona fide religious purpose. A religious qualification for instructional personnel or an administrative officer, serving in a supervisory capacity of a bona tide religious educational facility or religious institution shall be presumed to be a bona fide occupational qualification. (Ord. 94-3647, 11-8-1994) • An employer or employment agency which chooses to offer employment or advertise for employment to only the disabled or elderly. Any such employment or offer of employment shall not discriminate among the disabled or elderly on the basis of age, color, creed, disability, gender identity, marital status, national origin, race, religion, sex or sexual orientation. (Ord. 95-3697, 11-7-1995) • The employment of individuals for work within the home of the employer if the employer or members of the family reside therein during such employment. • The employment of individuals to render personal service to the person of the employer or members of the employer's family. (Ord. 94-3647, 11-8-1994) • The employment on the basis of sex in those certain instances where sex is a bona tide occupational qualification reasonably necessary to the normal operation of a particular business or enterprise. The bona tide occupational qualification shall be interpreted narrowly. (Ord. 03-4105,12-16-2003) • A state of federal program designed to benefit a specific age classification which saves a bona fide public propose. (Ord. 94-3647, 11-8-1994) • The employment on the basis of disability in those certain instances where presence of disability is a bona fide occupational qualification reasonably necessary to the normal operation of a particular business or enterprise_ The bona fide occupational qualification shall be interpreted narrowly. (Ord. 03-4105, 12-16-2003) • Any employer who regularly employees less than four (4) individuals. For proposes of this section, individuals who are members of the employer's family shall not be counted as employees. (Ord. 08-4312, 8-11-2008) Sample: Equal Employment Opportunity Policy To all employees of This Company and its employees shall not discriminate against any employee or applicant for employment based on his or her age, national origin, color, creed, disability, gender identity, marital status, race, religion, sex or sexual orientation_ The antidiscrimination policy extends to decision involving hiring, promotion, demotion, or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other foams of compensation; and selection of training, including apprenticeship_ Further, this Company and its employees will provide a working environment free from such discrimination. All employees are encouraged to refer minority and women applicants and applicants with disabilities for employment. The Equal Employment Opportunity Officer for Name: Address: Telephone Number: Note: This is a sample only. You may wish to confer with your EEO officer or legal counsel to formulate a policy which specifically meets the needs of your company. Assurance of Compliance The following sets forth the minimum requirements of a satisfactory Equal Employment Opportunity Program which will be reviewed for acceptability. With respect to the performance of this contract, the contractor, consultant or vendor agrees as follows: (For the purposes of these minimum requirements, `contractor" shall include consultants and vendors) 1. The contractor will not discriminate against any employee or applicant for employment and will take affirmative efforts to ensure applicants and employees are treated during employment without regard to their race, color, creed, religion, national origin, sex, sexual orientation, gender identity, disability, marital status, and age. Such efforts shall include, but not be limited to the following: employment, promotion, demotion, or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. 2. The contractor will, in all solicitations or advertisements for employees placed by or on behalf of the contractor; state that it is an equal opportunity employer. Note: Contracts that are federally funded are subject to Executive Order No. 11246, as amended, and the regulations (see generally 29 U.S.C. § 1608 et seq.) and relevant orders of the U.S. Secretary of Labor. The Secretary of Labor, and not the City, enforces said regulations and orders. I Provide a copy of your written Equal Employment Opportunity Policy Statement. Where is this statement posted? 4. Print the name, telephone number, emai I and address of your business' Equal Employment Opportunity Officer'? Name: Phone Number: Email: Address: 5. The undersigned agrees to display, in conspicuous places at the work site, all posters required by federal and state law for the duration of the contract_ NOTE: The City can provide assistance in obtaining the necessary posters. 6. How does your business currently inform applicants, employees, and recruitment sources (including unions) that you are an Equal Employment Opportunity employer'? The above responses to questions 1 through 6 are true and correctly reflect our Equal Employment Opportunity policies. Business Name Signature Print Name Phone Number Title Date Section IV CONSULTANT AGREEMENT THIS AGREEMENT, made and entered into this day of , , by and between the City of Iowa City, a municipal corporation, hereinafter referred to as the City and of hereinafter referred to as the Consultant. BRIEF PROJECT DESCRIPTION BEGINNING WITH "WHEREAS" NOW THEREFORE, it is agreed by and between the parties hereto that the City does now contract with the Consultant to provide services as set forth herein. I. SCOPE OF SERVICES Consultant agrees to perform the following services for the City, and to do so in a timely and satisfactory manner. DESCRIBE SCOPE OF SERVICES II. TIME OF COMPLETION The Consultant shall complete the following phases of the Project in accordance with the schedule shown. PRESENT SCHEDULE OF SERVICES III. COMPENSATION FOR SERVICES DESCRIBE COMPENSATION IV General Terms - 2 - Section IV A. The Consultant shall not commit any of the following employment practices and agrees to prohibit the following practices in any subcontracts. 1. To discharge or refuse to hire any individual because of their race, color, religion, sex, national origin, disability, age, marital status, gender identity, or sexual orientation. 2. To discriminate against any individual in terms, conditions, or privileges of employment because of their race, color, religion, sex, national origin, disability, age, marital status, gender identity, or sexual orientation. B. Should the City terminate this Agreement, the Consultant shall be paid for all work and services performed up to the time of termination. However, such sums shall not be greater than the "lump sum" amount listed in Section III. The City may terminate this Agreement upon seven (7) calendar days' written notice to the Consultant. C. This Agreement shall be binding upon the successors and assigns of the parties hereto, provided that no assignment shall be without the written consent of all Parties to said Agreement. D. It is understood and agreed that the retention of the Consultant by the City for the purpose of the Project shall be as an independent contractor and shall be exclusive, but the Consultant shall have the right to employ such assistance as may be required for the performance of the Project. E. It is agreed by the City that all records and files pertaining to information needed by the Consultant for the project shall be available by said City upon reasonable request to the Consultant. The City agrees to furnish all reasonable assistance in the use of these records and files. F. It is further agreed that no Party to this Agreement shall perform contrary to any state, federal, or local law or any of the ordinances of the City of Iowa City, Iowa. G. At the request of the City, the Consultant shall attend meetings of the City Council relative to the work set forth in this Agreement. Any requests made by the City shall be given with reasonable notice to the Consultant to assure attendance. H. The Consultant agrees to furnish, upon termination of this Agreement and upon demand by the City, copies of all basic notes and sketches, charts, computations, and any other data prepared or obtained by the Consultant pursuant to this Agreement without cost, and without restrictions or limitation as to the use relative to specific projects covered under this Agreement. In such event, the Consultant shall not be liable for the City's use of such documents on other projects. I. The Consultant agrees to furnish all reports, specifications, and drawings with the seal of a licensed professional affixed thereto as required by Iowa law. J. The City agrees to tender the Consultant all fees in a timely manner, excepting, however, that failure of the Consultant to satisfactorily perform in accordance with this Agreement shall constitute grounds for the City to withhold payment of the amount sufficient to properly complete the Project in accordance with this Agreement. - 3 - Section IV K. Should any section of this Agreement be found invalid, it is agreed that the remaining portion shall be deemed severable from the invalid portion and continue in full force and effect. L. Original contract drawings shall become the property of the City. The Consultant shall be allowed to keep reproducible copies for the Consultant's own filing use. M. Fees paid for securing approval of authorities having jurisdiction over the Project will be paid by the City. N. Upon signing this Agreement, Consultant acknowledges that Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this Agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5. O. Indemnification. To the full extent permitted by law, Consultant agrees to defend, indemnify, and hold harmless the City against any and all claims, demands, suits, loss, expenses, including attorney's fees, and for any damages which may be asserted, claimed or recovered against or from the City by reason of personal injury, including bodily injury or death, and property damages, including loss of use thereof, caused by Consultant's negligent acts, errors or omissions in performing the work and/or services provided by Consultant to the City pursuant to the provisions of this Agreement. 2. Consultant assumes full responsibility for any and all damage or injuries which may result to any person or property by reason of Consultant's negligent acts, errors or omissions in connection with the work and/or services provided by Consultant to the City pursuant to this Agreement, and agrees to pay the City for all damages caused to the City's premises resulting from the negligent acts, errors or omissions of Consultant. 3. The Consultant's obligation to indemnify the City shall not include the obligation to indemnify, hold harmless, or defend the City against lability, claims, damages, losses, or expenses, including attorney fees, to the extent caused by or resulting from the negligent act, error, or omission of the City. For purposes of this paragraph, the term "Consultant" means and includes the Consultant, its officers, agents, employees, sub -consultants, and others for whom Consultant is legally liable, and the term "City" means and includes the City of Iowa City, Iowa its Mayor, City Council members, employees, and volunteers. P. Insurance The Consultant agrees at all times material to this Agreement to have and maintain professional liability insurance covering the Consultant's liability - 4 - Section IV for the Consultant's negligent acts, errors and omissions in the sum of $1,000,000 Per Claim, $1,000,000 Annual Aggregate, or a $1,000,000 Combined Single Limit. To the fullest extent permitted by applicable state law, a Waiver of Subrogation Clause (endorsement) shall be added. 2. Consultant agrees to provide the City a certificate of insurance evidencing that all coverages, limits and endorsements required herein are maintained and in full force and effect, and certificates of Insurance shall provide a minimum thirty (30) day endeavor to notify, when available by Consultant's insurer. If the Consultant receives a non -renewal or cancellation notice from an insurance carrier affording coverage required herein, or receives notice that coverage no longer complies with the insurance requirements herein, Consultant agrees to notify the City within five (5) business days with a copy of the non -renewal or cancellation notice. Q. Standard of Care. 1. The Consultant shall perform services for, and furnish deliverables to, the City pertaining to the Project as set forth in this Agreement. The Consultant shall possess a degree of learning, care and skill ordinarily possessed by reputable professionals, practicing in this area under similar circumstances The Consultant shall use reasonable diligence and professional judgment in the exercise of skill and application of learning. 2. Consultant represents that the Services and all its components shall be free of defects caused by negligence; shall be performed in a manner consistent with the standard of care of other professional service providers in a similar Industry and application; shall conform to the requirements of this Agreement; and shall be sufficient and suitable for the purposes expressed in this Agreement. 3. All provisions of this Agreement shall be reconciled in accordance with the generally accepted standards of the Engineering Profession. 4. Consultant's obligations under this Section shall exist without regard to, and shall not be construed to be waived by, the availability or unavailability of any insurance, either of City or Consultant. R. There are no other considerations or monies contingent upon or resulting from the execution of this Agreement, it is the entire Agreement, and no other monies or considerations have been solicited. S. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Iowa. Any legal proceeding instituted with respect to this Agreement shall be brought in a court of competent jurisdiction in Johnson County, Iowa. The parties hereto hereby submit to personal jurisdiction therein and irrevocably waive any objection as to venue therein, including any argument that such proceeding has been brought in an inconvenient forum. -5- For the City By: Date: Section IV For the Consultant By: Title: Senior Vice President Date: 2019 Approved by: City Attorney's Office Date Exhibit B � � 1 0 ! a TY OF 101 -VA CITY La NESCID C LTY OF LIT ERATI1 RE RFP24-07 Mullin & Lonergan Associates, Inc. Northeast & Bucks Co. Supplier Response Event Information Number: RFP24-07 Title: Five -Year Consolidated Plan, Equity Plan, and a Regional Housing Needs Analysis Type: Request for Proposal FY24 Issue Date: 1/29/2024 Deadline: 2/29/2024 02:30 PM (CT) Notes: The City of Iowa City is requesting proposals from qualified vendors to provide consulting services for: A Five -Year Consolidated Plan, an Equity Plan, and a Regional Housing Needs Analysis, Proposals must be submitted online via Ion Wave. Faxed, emailed and hard copies of proposals will not be accepted. All questions and clarifications regarding this Request for Proposal will be accepted until February 21, 2024 at noon (CST) by submitting your questions through Ion Wave. All questions must be in writing in order to receive a response. Page 1 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 Contact Information Contact: Theresa Vanatter Address: 410E Washington St IOWA CITY, IA 52240-4525 Page 2 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 Mullin & Lonergan Associates, Inc. Information Address: 800 Vinial St Suite B414 Pittsburgh, PA 15212 Phone: (412) 323-1950 By submitting your response, you certify that you are authorized to represent and bind your company. William Wasielewski Signature Submitted at 2/29/2024 12:50:02 PM (CT) uested Attachments billw@mandl.net Email Proposal Iowa City Proposal 2-27-24.pdf Each proposal must contain a separate Project Work Plan section and Project Pricing Schedule for each plan the vendor is submitting a proposal for. General Terms and Conditions Exceptions No response Upload only if you have exceptions Completed Wage Theft Policy Bid Attributes Iowa City Wage Theft Affidavit.pdf 1 No Contact Policy A. Code of Silence: 1. No City Representative other than the contact listed under Bid Contact Information should be contacted regarding this Request for Proposal beginning with the issue date of the Request for Proposal and ending with the issuance of the Purchase Order. 2. Any contact initiated by the vendor or by a City representative, other than the Purchasing Division representative listed herein, concerning this Request for Proposal is strictly prohibited. Any such unauthorized contact may cause the disqualification of the vendor from the procurement transaction. 0 I have read, understand, and agree to these terms 2 Submittal Requirements A. This Request for Proposal is soliciting responses for three separate plans: 1. 5 -year Consolidated Plan 2. Equity Plan 3. Regional Housing Market Analysis Vendors may submit a response for one, two, or three of the plans. If a vendor chooses to submit for more than one plan the vendor's proposal must contain a separate Project Plan and itemized Pricing Schedule section for each plan the vendor is submitting a proposal for. A not -to -exceed price including reimbursable expense price must also be entered in the line items tab for each plan the vendor is submitting a proposal for. 0 1 have read, understand, and agree to these terms Page 3 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 3 Contract Term A This contract start date will occur on a mutually agreed upon date on or near April 1 of 2024 and will conclude on a negotiated date. Pricing shall be firm from the date stated on the contract purchase order. No price escalation will be allowed during the original term of the contract. 0 1 have read and understand these terms. 4 Definitions A. Definitions for this Request for Proposal. 1. The City/City: Indicates the City of Iowa City. 2. May: Indicates something that is not mandatory but permissible, desirable, or preferred. 3. Point of contact: Is the vendor's representative available for all questions pertaining to the vendor's response to this Request for Proposal. 4. RFP: Stands for Request for Proposal. 5. Shall or Must: Indicates a mandatory requirement. Failure to meet a mandatory requirement may result in a rejection of your proposal or cancelation of any subsequent contract. 6. Should: Indicates something that is recommended but not mandatory. 7. Vendor: Proposer submitting a response to this Request for Proposal. ❑� I have read and understand 5 Required Attachments and Exceptions A From the Attachments tab download and review the following required documents. 1 . Appendix A - General Requirements and Instructions to Vendors. 2. Appendix B - General Terms and conditions. 3. Appendix C -Wage Theft Affidavit (Sign and upload your completed Wage Theft Affidavit to the Response Attachments tab). 4. Appendix D - Contract Compliance Form (To be completed by awarded vendor only). 5. Appendix E - Sample Consultant Agreement B. Vendors are required to inform themselves of all requirements of this Request for Proposal. Failure to do so is at the vendor's own risk. If a vendor does not clearly demonstrate and provide documentation substantiating that they are compliant with the qualifications and specifications of this Request for Proposal, they may be disqualified. C. Exceptions and Contract Negotiations. 1 . Exceptions submitted after the Request for Proposal due date will not be accepted. 2. If your company has no exceptions/deviations select "No exceptions' from the menu below. If you select "No exceptions" you must not submit your company's terms and conditions or any other list of exceptions after the due date. If you select "No exceptions" the vendor agrees that in the event of any disagreement between the City of Iowa City Terms and Conditions and the vendor's Terms and Conditions, the City of Iowa City Terms and Conditions will prevail. 3. If you have exceptions to this Request for Proposal, choose "I have exceptions" from the menu below and attach a list of your exceptions to the response attachments tab. Exceptions will be negotiated by the City of Iowa City and the vendor. Vendors with exceptions may be scored lower than vendors that have fewer or no exceptions. I have no exceptions. 6 Proposal Requirements A Documents required to be submitted with your proposal. Vendor's submitted proposal must be organized in the sequence below. If a vendor is proposing on more than one of the three plans, the vendor must have a separate Project Plan section in their proposal for each plan. Proposals must be uploaded to the response attachments tab. B. Pricing must be completed in the line items section of this proposal. A separate itemized pricing schedule must also be included in your proposal for each plan the vendor is proposing on. Page 4 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 C. Section 1 - Executive Summary: Summarize the key points of your proposal. Include the following: 1. The name and contact information for the person(s) who will serve as the Principal Contact. 2. A summary of the firm's understanding of the plan or plans including a brief restatement of the project scope. 3. A signature of the person in your firm who is authorized to negotiate terms, render binding decisions, and commit the firm's resources. D. Section 2 — Firm Qualifications: tell us about your team. Provide or include: A description of your company's qualifications, credentials, experience and resources as they relate to the requirements of this Request for Proposal. Give a brief overview of your company's experience dealing with projects of similar scope with specific attention given to projects similar to this project for Iowa City. Identify experience your firm may have working with the Consolidated Plan template on IDIS OnLine and the CPD Maps website (eCon Planning Suite). It is imperative that staff assigned to this project remain consistent throughout the engagement. Provide resumes of all staff assigned to the study. Include training and experience as they relate to the requirements of this Request for Proposal. Note: Staff that will be assigned to this project must be present at any subsequent interviews or presentations. E .Section 3 (Optional) - Project Work Plan Method and Means for the Five -Year Consolidated Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section three tell us how you will conduct your analysis if you are submitting a proposal for the Five - Year Consolidated plan. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. Discuss the final deliverables based on how you will prepare the Plan utilizing HUD's eCon Planning Suite. Provide A detailed time schedule. Include a scheduled time frame for completion of tasks that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates F. Section 3A (Optional) - Project Work Plan Method and Means for the Equity Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 3A tell us how you will conduct your analysis if you are submitting a proposal for the Equity Plan. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in project work plan. Describe the rationale for the proposed methodology to be used. A detailed time schedule. Include a scheduled time frame for completion of each task that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates. G. Section 3B (Optional) - Project Work Plan Method and Means Regional Housing Needs Analysis. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 3A tell us how you will conduct your analysis if you are submitting a proposal for the Regional Housing Needs Analysis. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in project work plan. Describe the rationale for the proposed methodology to be used. A detailed time schedule. Include a scheduled time frame for completion of each task that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates H. Section 4 - (Optional) Pricing Schedule Five -Year Consolidated Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4 provide a pricing schedule if you are submitting a proposal for the Five -Year Consolidated Plan. Outline your compensation expectations: Page 5 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. I. Section 4A - (Optional) Pricing Schedule Eguity Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4A provide a pricing schedule if you are submitting a proposal for the Equity Plan. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. J. Section 4B - (Optional) Pricing Schedule Regional Housing Needs Analysis. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4B provide a pricing schedule if you are submitting a proposal for the Regional Housing Needs Analysis. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. K. Section 5 - Reference Projects. Show us your work. Provide: 1. A list of three (3) previous clients of similar size, service area and nature, with whom the vendor has provided similar services. Each listed reference should include the type and size of the client organization, and a brief description and scope of services that were provided. L. Vendor's submitted proposal must be organized in the sequence above. ❑d I have read and understand Page 6 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 7 1 Scoring and Evaluation A. Each proposal stands alone and will be evaluated on its own merits by an evaluation committee in terms of meeting the City's requirements and overall responsiveness to this Request for Proposal. B. Vendors will be treated equally without regard to race, color, creed, religion, national origin, sex, gender identity, sexual orientation, disability, marital status, and age. C. Failure of the vendor to provide any information requested in the RFP may result in disqualification of the proposal and shall be the responsibility of the vendor. D. The proposal that accrues the highest point total based on a 150 -point scale shall be recommended for award subject to the best interests of the City of Iowa City. Each category shall receive a point value within the specified range based on how well the proposal meets or exceeds the City's requirements. E. Point category and assigned points. Phase One - 100 points Phase One — Point Category Assigned Points: 1. Experience, Firm's Resume, Qualifications, and Personnel - 20 Points. 2. Proposed Work Plan, Methodology and Rationale, Data Collection, Data analysis, Community Engagement, Goals and strategies, and Implementation Plan - 55 points. 3. Exceptions - (Note: proposals that have no or fewer exceptions will receive more points) - 5 Points. 4. Fee Schedule - 20 Points. F. Point category and assigned points, Phase two - 50 points. Phase Two - Point Category Assigned Points: Interview and Presentation - 30 Points. Reference Projects, References, and Proven Success with Other Clients - 20 Points. G. Submittal of a proposal infers acceptance of these scoring techniques. ❑.r 1 have read and understand these terms. 8 1 Scope and Project Summary A. The City of Iowa City is requesting proposals from qualified community development consultant firms or individual consultants to assist in updating the planning documents necessary to receive continued direct Entitlement Community assistance from the U. S. Department of Housing and Urban Development (HUD). The City of Iowa City receives and administers Community Development Block Grant (CDBG) and HOME Investment Partnerships Program (HOME) funds. The City has also received federal CDBG-CV, HOME -ARP, and State and Local Fiscal Recovery Funds (SLFRF) through the American Rescue Plan Act (ARPA). Planning documents will also be used to prioritize local affordable housing programs and funding. Five -Year Consolidated Plan (locally known as City Steps) for city fiscal years 2026-2030 (July 1, 2025 to June 30, 2030). An Equity Plan to update the City's 2019 Analysis of Impediments to Fair Housing (Fair Housing Study) that meets the Affirmatively Furthering Fair Housing (AFFH) requirements that are in effect at the time of preparation. Currently plans are subject to the Affirmatively Further Fair Housing (AFFH) Interim Final Rule. A Regional Housing Needs Analysis for the Iowa City metropolitan area. The Needs Analysis is intended to help inform the City's Comprehensive Plan and will occur concurrent with comprehensive planning efforts related to housing. This shall demonstrate housing demand from 2025 to 2035 and recommend housing product types and amounts to be built in the Iowa City area to satisfy demand from current and future residents from 2025-2030. ❑.r 1 have read and understand Page 7 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 9 Project Background A. The current 5 -Year Consolidated Plan (a.k.a. City Steps) is due for renewal for city fiscal years 2026 through 2030 (July 1, 2025 to June 30, 2030). The 5 -Year Consolidated Plan must be completed by November 15, 2024. The City of Iowa City currently receives approximately $515,000 in annual HOME entitlement funding and approximately $730,000 in CDBG funds. B. The City of Iowa City completed an Analysis of Impediments to Fair Housing (Fair Housing Study) in 2019. The Equity Plan would update this report for the City of Iowa City and Iowa City Housing Authority in accordance with the current HUD regulations regarding Affirmatively Furthering Fair Housing. C. The City of Iowa City has created and implemented Affordable Housing Action Plans in 2016 and 2021 and currently funds a $1 million Affordable Housing Fund annually. However, the City of Iowa City does not currently have a holistic, regional understanding of the area housing market to direct policy decisions. A comprehensive assessment of the region's housing is needed to assess the exact gaps in the housing market, how the policies of different neighboring jurisdictions interact, and how the City can best position itself to meet its share of regional affordable housing needs. 0 1 have read and understand 1 Specifications - 5 -Year Consolidated Plan U A. Vendors are urged to familiarize themselves with 24 CFR Part 91 regulations and the guidelines established by HUD for the Consolidated Plan. Vendor must use the Consolidated Plan template in IDIS Online and the CPD Maps website (eCon Planning Suite). B. The vendor will collaborate with Iowa City's Neighborhood Services staff in the identification, development, scheduling and implementation of activities designed to complete a HUD acceptable Consolidated Plan. Scope of work includes, but is not limited to the following: 1. Citizen Participation and Consultation: Develop a list of housing and community development stakeholders in the City. Provide meaningful involvement of groups listed in 24 CFR 91.100, including citizens, community-based organizations, businesses, elected officials, housing and service providers in the planning process and regular consultation with city staff. Develop a detailed citizen participation plan that complies with the City's Citizen Participation Plan and federal requirements and includes consultation with: • The Continuum of Care that serves the jurisdiction's geographic area. • Public and private agencies that address housing, health, social services, employment, or education needs of low-income individuals and families, of homeless individuals and families, of youth, and/or of other persons with special needs. • Publicly funded institutions and systems of care that may discharge persons into homelessness (such as health-care, mental health, foster care, and other youth facilities, in addition to corrections programs and institutions). • Public and private organizations engaged in narrowing the digital divide, including broadband internet service providers. • Agencies whose primary responsibilities include the management of flood prone areas, public land or water resources, and emergency management agencies. ❑� 1 have read and understand. 1 Specifications - 5 -Year Consolidated Plan 1 A. Executive Summary: The vendor must provide a concise summary that includes the objectives and outcomes identified in the plan, the citizen participation process, public comments, efforts made to broaden public participation, and an evaluation of past performance. 0 1 have read and understand Page 8 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 1 Specifications - 5 -Year Consolidated Plan 2 A. Housing and Homeless Needs Assessment: The vendor must provide a summary of the City's estimated housing needs projected for the ensuing five-year period. At the minimum this section must satisfy the requirements of 24 CFR 91.205, which includes: 1. Estimating the number and type of families in need of housing assistance. 2. Summarizing housing problems of interest to HUD, including lead-based paint hazards. 3. Assessing disproportionate housing needs by race and ethnicity. 4. Describing the nature and extent of homelessness using data from the Homeless Management Information System (HMIS) and the Point -In -Time (PIT) count. 5. Describing the characteristics and needs of those housed but at risk of homelessness. 6. Estimating persons having other special needs in need of supportive housing ❑� I have read and understand 1 Specifications - 5 -Year Consolidated Plan 3 A. Housing Market Analysis: Provide a description of the significant characteristics of the City's housing market. At a minimum, this section must satisfy the requirements of 24 CFR 91.210, which includes: 1. Analyzing the supply, demand, and condition and cost of housing. 2. Estimating housing available for persons with disabilities or other special needs. 3. Estimating vacant or abandoned buildings and their suitability for rehabilitation. 4. Identifying areas with concentrations of racial/ethnic minorities and/or low-income families. 5. Analyzing the broadband needs of low- and moderate -income households. 6. Identifying the vulnerability of LMI households to increased natural hazard risks. 7. Describing publicly assisted housing units, their physical condition, their restoration needs, and the City's strategy to improve their management, operation, and living environment. 8. Identifying facilities, housing, and services that meet the needs of homeless persons. 9. Identifying facilities, services, and programs assisting persons who require supportive housing, including those returning from institutions. 10. Identifying barriers to affordable housing affected by public policies. ❑� I have read and understand Page 9 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 1 Specifications - 5 -Year Consolidated Plan 4 A. Housing and Community Development Strategic Plan: The vendor shall provide a description of priorities for allocating funds geographically and among different needs, the City's rationale, obstacles to meeting underserved needs, priorities and objectives to be initiated during the planning period, how funding will address identified needs, and how these will affirmatively further fair housing. At the minimum, this section must satisfy the requirements of 24 CFR 91.215, which includes but is not limited to: 1. Identifying and prioritizing affordable housing and homeless needs projects and activities, including the rationale behind them, and describing their proposed accomplishments. 2. Identifying obstacles to meeting housing goals and objectives, and describing strategies for overcoming such obstacles. 3. Describing how the City will address public housing needs and encourage resident involvement and homeownership. 4. Identifying and prioritizing homeless needs, and describing strategies for reducing and ending homelessness through assessment, direct assistance, and assistance for those at risk. 5. Assessing special needs for the non -homeless, including special housing or supportive service needs for the elderly, persons with physical, mental, or developmental disabilities, persons with alcohol or drug addiction, and persons with HIV/AIDS and their families. 6. Identifying priority non -housing community development needs, including specific long-term and short-term objectives for public facilities and infrastructure improvement, accessibility issues, historic preservation, economic development, planning, public services, and other community development needs. 7. Identifying geographic areas where targeted revitalization efforts are carried out through concentrated and coordinated activities. 8. Identifying strategies to address overcrowding, concentration of racial/ethnic minorities, and avoid involuntary displacement of residents. 9. Describing how the City will address negative public policy effects that act as barriers to affordable housing. 10. Outlining actions to evaluate and reduce lead-based paint hazards. 11. Summarizing goals, programs, and policies for reducing the number of poverty -level families and how affordable housing goals, programs, and policies will support these efforts. 12. Summarizing the institutional structure the City will use to carry out its housing, homeless, and community development plan, and how the City will overcome any identified gaps in this structure. 13. Summarizing activities to enhance coordination among the Continuum of Care, public and assisted housing providers, and health, mental health, and service agencies. 14. Implementation of Housing & Community Development Strategy ❑.r 1 have read and understand Page 10 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 1 Specifications - 5 -Year Consolidated Plan 5 A. Annual Action Plan: Complete the FY26 Annual Action Plan (July 1, 2025 to June 30, 2026) to be submitted to Hud by May 15, 2025 using HUD's Consolidated Plan Templated (year 1) on IDIS. Describe and analyze objectives and outcomes in the plan, past performance, citizen participation and consultation (including efforts to broaden public participation), and any comments or views (including if any were not accepted and why). At the minimum this section must satisfy the requirements of 24 CFR 91.220, which includes for the upcoming plan year: 1. Summarizing expected federal resources. 2. Indicating other expected resources to address needs identified in the plan. 3. Summarizing the objectives that the City expects to achieve. 4. Describing geographic areas to which the City will direct assistance. 5. Describing affordable housing goals for specific subpopulations and for units produced, rehabilitated, acquired, and/or receiving rental assistance. 6. Describing actions to address public housing needs and encourage resident involvement and homeownership. 7. Describing goals and actions to reduce and end homelessness. 8. Describing activities to address identified housing and supportive service needs for persons with special needs. 9. Describing actions to address public policies that serve as barriers to affordable housing. 10. Describing actions to affirmatively further fair housing by addressing identified goals. 11. Describing actions to address obstacles to meeting underserved needs, foster affordable housing, reduce lead-based paint hazards, reduce the number of poverty -level families, develop institutional structure, and enhance coordination. 12. Addressing program -specific requirements for the CDBG and HOME programs. 13. Revising resale and recapture provisions to simplify terms and ensure understanding for households receiving assistance. ❑� 1 have read and understand 1 Specifications - 5 -Year Consolidated Plan 6 A. Citizen Participation Plan: 1. Update the existing Citizen Participation Plan adopted with City Steps 2025 as required 24 CFR 91.105. 2. Assess past citizen participation and consultation activities and create priorities and goals. 3. Research best practices and recommend potential methods or approaches Iowa City can use to support outreach to the public and stakeholders. Review the role of the Housing and Community Development Commission and recommend changes to the by-laws to provide more meaningful engagement with commissioners. 4. Review the current approval and amendment processes and recommend changes for efficiency while still allowing for public input. 5. Provide examples of strategies that have been effective at the local level. 6. Consider the use of technology to enhance these efforts. ❑� 1 have read and understand 1 Specifications - 5 -Year Consolidated Plan 7 A. Identify Potential Funding Sources: Identify potential State and Federal grants and other available funding sources available to the City for housing -related and community development activities. Suggest financial terms for CDBG and HOME projects based on project type or related factors. 2 1 have read and understand Page 11 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 1 Specifications - 5 -Year Consolidated Plan 8 A. City Responsibilities: The City of Iowa City will expect the consultant to have the capacity to exercise independent judgment and to perform those actions necessary to complete the Plan. While the consultant will be working under the general direction of the City, it should be understood the City has limited professional staff capacity to support the project and will rely on the personnel, experience and expertise of the consultant to ensure all necessary components of the process are completed in a timely manner. The City believes it can supply all reasonable clerical support, printing and copying services, AN equipment and meeting location/scheduling services. The City will provide copies of existing plans, data and documents including: 1. Contact lists of local agencies, neighborhood organizations, special interest groups and others to be invited to participate in the process 2. Copies of zoning, subdivision and related land use regulations 3. Information and recommendations developed by the Housing and Community Development Commission or other Council appointed committees 4. FY2016-2020 Consolidated Plan (a.k.a. CITY STEPS 2016-2020) and annual updates 5. Affordable Housing Market Analysis, created December 2007 and updated January 2015 6. Iowa City Housing Authority plans and reports 7. Continuum of Care Reports 8. Facilities, meeting rooms, photocopying, phone, office space, and related services 9. Existing Citizen Participation Plan 10. Analysis of Impediments of Fair Housing ❑� 1 have read and understand these terms. 1 Specifications - 5 -Year Consolidated Plan 9 A. Deliverables: The Consultant shall complete the Consolidated Plan template on IDIS Online. Consultant shall provide a resource summary to include, at a minimum, a list of data sources, copy of data collected, consultations, records, and other supporting documentations used to develop the 5 -Year Consolidated Plan/Citizen Participation Plan. The Consultant shall also provide all digital files used in the creation of the Consolidated Plan, including but not limited to Geographic Information Systems files and data, Microsoft Office documents and data, photographs, and other graphics. Report drafts shall be provided in digital format. No fewer than three (3) bound hard copies of the final report shall be provided. All reports and information related to the Consolidated Plan will be the property of the City. ❑� 1 have read and understand these terms. 2 Specifications - Equity Plan U A. Complete an Equity Plan (Fair Housing Study) based on the current AFFH rules to take meaningful action to overcome patterns of segregation and foster inclusive communities free from barriers that restrict access to opportunity based on protected characteristics. B. Meaningful actions include: 1. Addressing significant disparities in housing needs and in access to opportunity. 2. Replacing segregated living patterns with truly integrated and balanced living patterns. 3. Transforming racially or ethnically concentrated areas of poverty into areas of opportunity. 4. Fostering and maintaining compliance with civil rights and fair housing laws. C. As an entitlement community, Iowa City must certify that we will affirmatively further fair housing in connection with our consolidated plans, annual action plans, and PHA plans. D. The consultant will collaborate with Iowa City's Neighborhood Services staff to develop an Equity Plan to address these meaningful actions following HUD's Interim Final Rule (or subsequent Final Rule under 24 CFR Part 5 as applicable). ❑.r 1 have read and understand Page 12 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 2 Specifications - Equity Plan A. The Equity Plan shall include a fair housing analysis, community engagement, fair housing goals, and fair housing strategies described as follows: B. Fair Housing Analysis: Conduct an analysis to identify barriers/impediments to fair housing choice within the City of Iowa City and the Iowa City Housing Authority jurisdiction. The analysis must include: 1. Summary of history, key facts, and current demographics of jurisdiction/region. 2. General description of housing conditions, trends, and locations analysis of patterns of segregation and integration. 3. Analysis of RECAPS. 4. Discussion of regional policies that contribute to housing trends Availability of and access to community assets, affordable housing opportunities, homeownership and economic opportunities. 5. Identification of barriers in access to community assets, affordable housing opportunities, homeownership and economic opportunities. 6. Local and state policies and practices impacting fair housing. 7. The effectiveness of fair housing enforcement. 8. Review of current housing needs within jurisdiction/region identified through the Regional Housing Needs Analysis. 9. Description of fair housing issues identified, including conditions that constitute the fair housing issue and protected class groups that are adversely affected. 10. Discussion of past and current fair housing goals. 11. A discussion on data gaps. C. Community Engagement: Engage with the public throughout the development of the Equity Plan, from the identification of fair housing issues to the establishment of fair housing goals. The vendor must: 1. Hold at least three public meetings at various accessible locations and at different times. 2. Hold at least one meeting in a location where underserved communities disproportionately reside. 3. Reach out to local leaders and community-based organizations, including advocates, community groups, clergy, health-care providers, educations and service providers such as social workers and case managers, to gather community perspectives and provide fair housing planning information. D. Fair Housing Goals & Strategies: Develop a plan and set goals to take appropriate actions to overcome the effects of any impediments identified through the analysis. The plan and goals must Include: 1. Prioritization of fair housing issues with priority given to those that will result in the most effective fair housing goals for achieving material positive change for underserved areas of our community. 2. Recommendations to embed fair housing into administrative and discretionary decisions, where possible. 3. The Creation of an implementation plan to maintain records to reflect the analysis and actions taken toward overcoming impediments, and to evaluate efficacy of fair housing goals and corresponding actions taken. 4. The Incorporation of community engagement in implementation plan to ensure at least two public meetings are held annually in different locations, with one located in an area of the jurisdiction in which underserved communities predominately reside. 0 1 have read and understand Page 13 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 2 Specifications - Equity Plan 2 A. City Responsibilities: The City of Iowa City will expect the consultant to have the capacity to exercise independent judgment and to perform those actions necessary to complete the Plan. While the consultant will be working under the general direction of the City, it should be understood the City has limited professional staff capacity to support the project and will rely on the personnel, experience and expertise of the consultant to ensure all necessary components of the process are completed in a timely manner. The City believes it can supply all reasonable clerical support, printing and copying services, AN equipment and meeting location/scheduling services. B. As needed, the City will provide digital copies of existing plans, data and documents including: Contact lists of local agencies, neighborhood organizations, special interest groups and others to be invited to participate in the process. 1. Copies of zoning, subdivision and related land use regulations. 2. Information and recommendations developed by the Housing and Community Development Commission or other Council appointed committees. 3. FY2021-2025 Consolidated Plan (a.k.a. City Steps) and annual updates. 4. Affordable Housing Market Analysis, updated 2021. 5. Iowa City Housing Authority plans and reports. 6. Continuum of Care Reports. 7. Existing Citizen Participation Plan. 8. 2019 Analysis of Impediments of Fair Housing. 9. Facilities, meeting rooms, photocopying, phone, office space, and related services as needed. ❑� I have read and understand 2 Specifications - Equity Plan 3 A. Deliverables: The Consultant shall complete a written Equity Plan to be submitted to HUD. Consultant shall provide a resource summary to include, at a minimum, a list of data sources, copy of data collected, consultations, records, and other supporting documentations used to develop the Equity Plan. The Consultant shall also provide all digital files used in the creation of the Equity Plan, including but not limited to Geographic Information Systems files and data, Microsoft Office documents and data, photographs, and other graphics. Report drafts shall be provided in digital format. No fewer than three (3) bound hard copies of the final report shall be provided. All reports and information related to the Equity Plan will be the property of the City. Md I have read and understand Page 14 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 2 Specifications - Regional Housing Market Analysis 4 A. The Cit is seeking a qualified vendor to develop a Regional Housing Needs Analysis that shall het Inform the Y� 9 q p 9 9 Y p overall Comprehensive Plan. B. Regional Housing Needs Analysis: The City is requesting a companion analysis to the Comprehensive Plan that would consider the housing needs of the region which should include portions of Johnson County and neighboring cities. Recognizing housing is a critical need for Iowa City and that movement within housing markets is not confined to municipal boundaries, the City would like to understand the local and regional dynamics impacting housing supply, demand, availability, and affordability. This analysis should include, but not be limited to, the following: 1. Population Characteristics (age, race, ethnicity, special needs, including the unhoused and immigrant populations). 2. Household Characteristics (household size and composition, tenure and ownership). 3. Income and Employment Trends (median income, labor market characteristics, unemployment). 4. Housing Stock Characteristics (building typologies, bedroom size, building age). 5. Housing Costs and Overcrowding and Tenure (cost burden, overcrowding rates). 6. Affordability (cost burden, current affordable housing stock, expiration of restrictions, affordable housing gaps). 7. Fee -in -Lieu Calculations (formula to determine a per-unit fee developers may opt to pay in lieu of providing affordable housing dwelling units) 8. Housing Demand (how many housing units are required to meet the local and regional housing needs, quantified by income, unit size, tenure, housing type). 9. Analysis of housing demand in identified geographies within the City of Iowa City. 10. Recommendation for prioritization of available funding for affordable housing considering need and cost- effectiveness. C. The City is also requesting that the Consultant consider the data needs of the HUD Consolidated Plan and Equity Plan. The data collected as part of the regional housing needs analysis should be provided to staff in a manner consistent with the Consolidated Plan requirements to reduce duplication of efforts through the process. The consultant should plan to provide city staff with the data, tables, graphs, and maps in a format consistent with a Consolidated Plan. 0 1 have read and understand 2 Prohibited Interest 5 A. Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5 B. Your firm shall identify any relationship that has existed, or presently exists with the City of Iowa City and its staff that may interfere with fair competition or may be a possible conflict of interest for either party. If no relationship has existed or does not presently exist, the company must make this statement in the space provided below (companies are subject to disqualification on the basis of any potential for conflict of interest as determined by the City of Iowa City). No relationship has existed, or presently exists with the City of Iowa City and its staff with Northeast & Bucks Co. T/A Mullin & Lonergan Associates that may interfere with fair competition or may be a possible conflict of interest for either party. Page 15 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 2 6 Liens, Unsatisfied Judgments, Disciplinary Actions A List any and all of the following that are current, pending, or occurring in the last five (5) years in the space provided below. 1. Disciplinary actions 2. Administrative proceedings 3. Malpractice claims 4. Other like proceedings against your company or any of its personnel relating to your firm's services B. If your company has no liens, unsatisfied judgments, or disciplinary actions that have occurred you must state this also in the space provided below. Northeast & Bucks Co. T/A Mullin & Lonergan Associates has no liens, unsatisfied judgements, or disciplinary actions. 2 7 Reference #1 Name Marilyn Harris 2 8 Reference #1 Address Louisville/Jefferson County Metro Govt, Office of Housing & Community Dev, 611 W Jefferson St, Louisville KY 40202 2 9 Reference #1 Phone Number (502) 547-3737 3 0 Reference #1 Email marilyn.harris@louisvilleky.gov 3 1 Reference #2 Name Ande Banks 3 2 Reference #2 Address 409 S Main St Harrisonburg, VA 22801 3 3 Reference #2 Phone Number (540)432-7701 3 4 Reference #2 Email a nde. banks@harrisonburgva.gov 3 5 Reference #3 Name Amy Archer 3 6 Reference #3 Address 1 Medical Dr Morris Plains, NJ 07950 3 7 Reference #3 Phone Number (973) 285-6852 Page 16 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 3 Reference #3 Email 8 aarcher@co. morris.nj. us Bid Lines 1 Total not to exceed price including reimbursable expenses to provide Consulting Services for a Five -Year Consolidated Plan. Quantity: 1 UOM: EA Price: $39,820.00 Total: $39,820.00 2 Total not to exceed price including reimbursable expenses to provide Consulting Services for an Equity Plan. Quantity: 1 UOM: EA Price: 1 $34,890.00 Total: 1 $34,890.00 3 Total not to exceed price including reimbursable expenses to provide Consulting Services for a Regional Housing Needs Analysis. Quantity: 1 UOM: EA Price: $97,390.00 Total: $97,390.00 Response Total: $172,100.00 Page 17 of 17 pages Vendor: Mullin & Lonergan Associates, Inc. RFP24-07 Proposal to Prepare the Consolidated Plan for 2025-2029, FY 2025 Annual Action Plan, 2025 Analysis of Impediments to Fair Housing Choice & Affirmatively Furthering Fair Housing Equity Plan M L In Response to RFP#24-07 Five Year Consolidated Plan, Equity Plan and Regional Housing Needs Assessment February 29, 2024 Table of Contents Tableof Contents..................................................................................2 TransmittalLetter.................................................................................3 Section 1: Executive Summary ................................................................... 5 Section 2: M&L's Qualifications..................................................................7 Consolidated Plans Et Annual Action Plans...................................................7 ProjectExperience..............................................................................7 Fair Housing Planning......................................................................... 10 Since 2020, MEtL has completed the following Analysis of Impediments to Fair HousingChoice: ................................................................................ 15 HousingStudies................................................................................ 15 CDBG Et HOME Technical Assistance........................................................ 19 Proposed Staffing Plan........................................................................ 22 Section 3- Five Year CP/AAP Work Plan ...................................................... 29 FY 2025-2029 Consolidated Plan & FY 2025 Annual Action Plan ........................ 29 Assistance Required from City............................................................... 38 AFFH Equity Plan............................................................................... 39 Regional Housing Needs Assessment........................................................ 42 Section 4 Fee Schedule.......................................................................... 55 Appendix A: CDBG/HOME Client List.......................................................... 57 Appendix B: Required Forms................................................................... 58 City of Iowa City, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 2 Transmittal Letter February 28, 2024 City of Iowa City ATTN: Theresa Vanatter 410 E Washington Street Iowa City, IA 52240-4525 RE: Proposal In Response to RFP#24-07 Dear Ms. Vanatter: Mullin & Lonergan Associates is pleased to submit its credentials to prepare the Five - Year Consolidated Plan for FY 2025-2029, FY 2025 Annual Action Plan, an AFFH Equity Plan and Regional Housing Needs Analysis. Our in-depth experience enables M&L to devise practical housing and community development strategies. Our deep familiarity with the CDBG and HOME Programs enables us to devise recommendations for investment strategies that are tailored to the unique characteristics of a grantee community. We are thoroughly familiar with analyzing local policies and programs as they relate to housing choice for members of the protected classes. Our focus is on developing a Equity Plan that is aspirational but also practical and implementable for Iowa City. We understand what is needed of communities to identify regional housing needs that allow for the development of action oriented and implementable policies that address a multitude of housing needs within a community. Typically, we function as an extension of the grantee's staff. Our clients call upon us frequently to provide advice and background information relative to regulatory issues, both CDBG and HOME, as well as other federal requirements such as procurement and contracting, acquisition, relocation, environmental compliance, labor compliance, and equal opportunity. Our firm has prepared the City last CP and Al and therefore, has a base knowledge of the community as it relates to the local planning practices and community development/affordable housing goals and objectives. In our experience, the most challenging aspect of these types of planning assignments is City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 3 - engaging the broadest segment of the community in the process. In addition, this has become an HUD emphasized focus point over the last several years as it relates to formulating local community development and affordable housing goals and objectives. Our stakeholder and citizen participation process reflects a series of tasks that has worked well with other grantees and offers a variety of opportunities for resident participation throughout the process including six Stakeholder Workshops, four Public Meetings, a web -based survey, a FAQ Sheet, and the creation of flyers and public notices (in English and Spanish, if needed) to encourage public participation in this planning process. MEtL is confident its proposal and competitive price meet the qualities that Iowa City is seeking in a professional housing and community development consultant to undertake this assignment. Should you require additional information, I can be reached at (412)323-1950 or via email at billw@mandl.net. Sincerely, William P. Wasielewski President City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 4 Section 1: Executive Summary Mullin Et Lonergan Associates is a housing and community development consulting firm with offices in Pittsburgh, Mechanicsburg, and Reading PA. Formed in 1965, Mullin Et Lonergan was consolidated into Northeast Et Bucks Company in 1979. Although the legal name of our firm is Northeast Et Bucks Company, we use the trade name of Mullin 8 Lonergan Associates because of the goodwill and recognition that we have built with our clients and within our industry for more than 55 years. To our clients, the firm is known simply as "MBL." Our clients include local units of government (boroughs, townships, cities, counties, states), HUD CDBG entitlements, HOME P -Is, Continuums of Care, public housing authorities, nonprofit organizations, planning agencies, state housing finance agencies, and economic development organizations. MEtL meets the definition of a small business with a workforce comprised of 18 employees. These include housing specialists, community planners (several of whom are AICP certified), local government specialists, data analysts, and finance specialists. For the purposes of all matters relating to this proposal, MEtL's contact person and Principal -in -Charge is Bill Wasielewski. Contact: Name of Company: Address of Office where Work will be Performed: Phone: Bill Wasielewski, President billw@mandLnet Northeast and Bucks Company T/A Mullin Et Lonergan Associates, Inc. www.mandL.net 800 Vinial Street, Suite B-414 Pittsburgh, PA 15212 (412)323-1950 MEtL understands the City's requested plans for this assignment including the HUD Five Year Consolidated Plan for FY 2025-2029, the HUD AFFH Equity Plan and the Regional Housing Needs Assessment. Our proposed scope of services for each of the request plans will meet all of HUD's regulatory requirements and all of the items included in the City's RFP 24-07. A brief overview of the proposed scope of services for each plan is as follows: 1. HUD Five Year Consolidated Plan/Annual Action Plan will be submitted in IDIS and include: a. Citizen Participation Update to meet 24 CFR91.105 b. Consultations to meet 24 CFR Part 91.100. This will include all required HUD entities as outlined on page 9 of the RFP. c. An Executive Summary d. A Housing and Homeless Needs Assessment (24 CFR 91.205) e. Housing Market Analysis (24 CFR 91.210) f. Housing and Community Development Strategic Plan (24 CFR 91.215) g. Annual Action Plan for FY 2025 (24 CFR 91.220) h. Assist in identifying state and federal funding sources for City housing and community development activities. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 5 - i. Submission of CP/AAP in HUDs online IDIS system 2. HUD Equity Plan based on current AFFH rules which will include: a. Fair Housing Analysis b. Community Engagement c. Fair Housing Goals and Strategies d. Implementation Plan 3. Regional Housing Needs Analysis to include: a. Population Characteristics b. Household Characteristics c. Income and Employment Trends d. Housing Stock Characteristics e. Housing Costs and Overcrowding and Tenure f. Fee -In -Lieu Calculation g. Housing Demand h. Analysis of Housing Demand by Geographies within Iowa City i. Recommendations for Prioritization of available funding for affordable housing concerning needs and cost effectiveness MEtL experience in housing and community development are best exemplified by our commitment to working with client communities to identify priority needs and crafting a plan of action specifically tailored to the community. Our broad experience across a diversity of small and large cities, counties, sparsely populated rural areas, high growth metro areas, evolving central cities and sprawling states provides our team with a vast bank of knowledge from which to devise plans of action that are realistic, implementable and based on available resources. Our mission is to provide our client communities with the tools needed to enhance the quality of life for their residents. In Iowa City, we are keenly interested in applying our skills to the challenges faced by a city with a large university, both of which are driving the housing market. Non -student households tend to be priced out of the off -campus rental stock and typically find housing to be out of their affordability range. The sales market is impacting the ability of moderate -income households to become homebuyers, many of whom depend on the university for employment but who may need to search further out of the city to find housing within their means. We believe our firm has the qualifications to assist Iowa City in addressing this challenge through its Consolidated Planning, AFFH Equity Plan and the Regional Housing Needs Assessment. As President of MEtL Associates, I am authorized to negotiate terms, render binding decisions, and commit the firms resources. William P. Wasielewski President City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 6 Section 2: M&Us Qualifications Consolidated Plans & Annual Action Plans Our in-depth experience with consolidated planning enables M&L to devise practical housing and community development strategies. Our deep familiarity with the CDBG and HOME Programs enables us to develop recommendations for investment strategies that are tailored to the unique characteristics of a grantee community. Since 2012 M&L has assisted its clients in creating Consolidated Plans, Annual Plans and CAPERS in HUD's eCon Planning Suite which includes CPD Maps. Our staff is thoroughly familiar with the process and system requirements. In most cases, our staff submits the documents to HUD on behalf of the grantees. All of our staff use HUD's IDIS system on a daily basis and our Director of Community Development and Senior Project Managers are IDIS experts. We would use this experience to complete the HUD Five Year CP and AAP. Our staff is also Additionally, M&L has previously completed Iowa City's last three HUD Five Year Consolidated Plans all of which included the first years Annual Action Plan. M&L has also previously completed a HUD CAPER and a Housing Study. Project Experience M&L has provided Con Plan, AFFH and Housing Needs Assessment to a wide range of HUD grantees comparable to Iowa City—university towns where student housing impacts the rental market and cities where leveraging other funding is critical to meeting priority needs, among others. A few of these examples include the following: In , home of James Madison University, the development of new off -campus student housing has resulted in increased vacancies among older multi -family rental structures that lack current amenities (e.g., exercise rooms, coffee bars, WiFi, etc.) popular among college students. During the Con Plan process, discussions were initiated on how to preserve these older rental units for low-income households where median gross rent is $866. In 2020-21, M&L prepared a Housing Needs Assessment, Al and Consolidated Plan/AAP. In the county drew from its recently adopted Comprehensive Plan in 2018-19 to make affordable housing preservation a high priority in its Con Plan process. Working collaboratively with the land bank, the county will identify dilapidated structures suitable for demolition in areas where housing rehabilitation is needed to implement a coordinated approach to preservation of the existing affordable housing inventory. This will include both owner and rental rehabilitation programs. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 7 - In a popular and successful summer youth employment program was financed jointly with CDBG funds and employer contributions in the form of wages paid to youth participants. Leveraging contributions from employers allowed for higher enrollment of eligible high school students. In FY 2021-22, MEtL prepared and Consolidated Plan and Al for the City. In staff invited all stakeholders to all workshops to encourage a more diverse dialogue on issues that were critical to the community. Workshop topics included Healthy Homes/Healthy Neighborhoods, Food Insecurity, The Opioid Crisis and Infant Mortality, Workforce Development, and Accessing Community Opportunity, among others, and were advertised to all stakeholders who were invited to participate. The results were more robust conversations from a cross-section of community leaders and service providers who contributed their expertise to a wider variety of critical issues. For example, a priority need identified in the Opioid Crisis and Infant Mortality workshop (safe and affordable housing for single mothers for 1-2 years) was recommended for HOME tenant -based rental assistance by community development staff. In 2019, M&L prepared the HUD Five Year CP for the City. In which is home to Penn State University, M&L worked in 2022-23 with the county to develop a regional Affordable Housing Needs Assessment with recommendations to address the affordable rental and for sale housing needs. In the city moved to seek NRSA designation for three separate LMI neighborhoods following HUD approval of the Con Plan. The need for obtaining NRSA status was identified through the Con Plan process and was met with strong local resident support in addition to city council approval. In MEtL assisted the city in 2022-23 in seeking a NRSA designation for a portion of the City as part of the development of the Consolidated Plan and Analysis of Impediments to fair housing choice. The NRSA will help the City address the community development and affordable housing goals identified in the Con Plan. A full list of our completed Consolidated Plans is included on the following page. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 8 M&L Consolidated Planning Clients by HUD Office & Population NEW YORK SAN ANTONIO PITTSBURGH New Rochelle, NY 77,062 Bexar County, TY 430,000 Allegheny County, PA S97,294 yonkere,NY 195,979 Round R.,k,TY 112,840 Beaver County, PA* 181,412 OMAHA Wuuarnson County, Tx 422,679 Ede,PA' 103,717 State of lo..,a ,9090,416 ATLANTA mhnsn,.yn, PA' 23,906 Iowa City, IA 62,220 Columbus/Muskogee County, CA 189,885 McKeesport, PA 19,728 Sioux Cty, IA 82,931 Henry County, 6A 217,739 Millcreek Township, PA* 52,121 YA,H,rIr.jCedar Falls, IA` 107,742 BALTIMORE Pittsburgh, PA 306,978 PHILADELPHIA Annapolis, MD 35,838 Washington County, PA' 202,997 Abington Township, PA 55,310 Bowie, HAD 58,227 ANestmoreland County, PA' 369,993 Aflentown, PA 120.443 Tag ersHeart, MD* 39,766 RALEIGH Bensalem Township, PA' 60,427 BUFFALO Burlington, NC 52,709 Berks County, PA 373,638 Amherst/Cheektowaga/Tonawanda, NY 284,159 Cumberland County, NC 119973 Bucks County, PA 621,643 Buffalo, NY 261,310 Ea9c1tevllle, NC 195,234 Carlisle, PA 19,162 Eric County, MI 380,068 High Point NC 104,596 Chcstcr,PA 33,988 Hamburg NY 56,936 RICHMOND Cumberland County, PA 241,242 Rochester, NY 210,624 Hampton, VA 137,448 Dauphin Count, PA 251,798 CHICAGO Harrisenbuig,VA` 48,914 Neva Castle County, DE 556,779 McHenry County, It 308,760 LVnchburg, VA 75,568 Norristown, PA 34,370 Oak Park, It 52,524 Waynesboro, VA 21,064 Reading, PA 87,575 COLUMBUS NEWARK V,illannsport, PA' 30,706 Dayton/Kettering, OH 197,723 Atlantic City, NI" 39,416 Wilmington, HE 71,442 Springfield, ON 60,573 Atlanfic County, NJ' 213,136 York, PA' 40,220 Youngstown, OH 66,909 Bloomfield, NJ 47,683 Delaware County, PA 552,126 DENVER Camden County, NJ 443,139 Easter, PA 26,263 Colorado Springs, CO 416,427 Jersey City, PII 240,055 Hazleton, PA' 23,329 Rapid city, SD 68,667 Monis County, NJ 446,212 Lehigh County, PA 312,090 FORT WORTH Ocean City, W' 15,378 loveer Merlon Township, PA 59,850 We,., TY 125,420 Parsippany Troy Hills, NJ 53,515 hanntgomery County, PA' 750,097 JACKSONVILLE Pessalc Connb/, H' 505,672 KANSAS CITY BreVaYd County, FL 172,088 Paterson, w 146,484 Slzle of Kansas 2,907,000 ANay no Township, NJ 55,049 \Nyandolle Co/Knnras Cly, KS 163369 * Denotes more than one Consolidated Plan prepared for the client City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 9 Fair Housing Planning In some cases, M&L has prepared successive Al documents for the same client (denoted in the following chart with *). We completed four Assessment of Fair Housing documents (denoted with "), three of which received acceptance letters from HUD before the issuance of HUD's notice on January 5, 2018 to extend the submission until after October 2020. M&L Fair Housing Clients by Population States New York (includes analysis of HUD entitlement Als and on Al devoted to the State's CDBG-DR program) 19,795,791 Iowa (exclusive of HUD entitlement cities) 3,090,416 Delaware (includes the City of Wilmington, City of Dover and New Castle County entitlement entities) 885,122 Vermont (exclusive of the City of Burlington) 583,324 Multi -jurisdictional & Regional Baltimore Regional Commission (includes Baltimore City, Baltimore County, Harford County, Howard County and Anne Arundel County entitlement entities) 1,881,823 Piedmont Triad Region in North Carolina (covers 12 -county region including entitlement cities of Burlington, Greensboro and High Point and the Surry HOME Consortium) 1,641,142 Hampton Roads, VA (covers seven HUD entitlement cities, including Norfolk, Hampton, Newport News, Portsmouth, Suffolk, Virginia Beach, and Chesapeake, VA)* 1,349,673 Wake County / City of Raleigh / Town of Cary, INC / Housing Authority of the County of Wake / Raleigh Housing Authority 998,691 Erie County/Town of Hamburg/ ACT Consortium (Amherst, Cheektowaga, Tonawanda), NY 664,132 City of Canton / Stark County, OH HOME Consortium* 379,214 Waterloo / Cedar Falls, Iowa HOME Consortium* 104,892 Parkersburg / Wood County / Vienna, WV HOME Consortium 34,168 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 10 Urban Counties Cities above 100,000 Allegheny County, PA 925,686 City of Yonkers, NY 195,979 Cuyahoga County, OH 876,488 City of Columbus/ Muscogee County, Ga 189,885 Prince George's County/ City of Bowie, MD* 820,852 Cities of Moline, IL/ Rock Island, It 183,311 Montgomery County, PA 750,097 Davenport, IA Bucks County/ Bensalem Township, PA 621,643 City ofJollet, It 152,812 Will County, IL* 530,097 City of Naperville, IL 144,864 Passaic County/Wayne Township, NJ 505,672 City of Waterbury, CT 110,189 Morris County/ Parsippany, NJ 499,727 City of High Point, NC 104,596 Chester County, PA 498,886 City of Erie, PA* 103,717 Williamson County, TX 422,679 Cities under 100,000 City of Roanoke, VA 97,032 Berks County, PA* 373,638 Westmoreland County, PA* 369,993 City of Sioux City, IA 82,831 Lehigh County, PA 312,090 City of New Rochelle, NY** 77,062 McHenry County, IL 308,760 City of Lynchburg, VA 75,568 Cumberland County / Fayetteville, NC 302,963 City of Evanston, IL 74,486 Erle County, PA (includes the City of Erie and City of Bethlehem, PA 71,329 Millcreek Township entitlement entities and 280,294 Gloucester Township, NJ 64,350 eight non -entitlement communities) City of Iowa City, Iowa 62,220 Atlantic County, NJ 252,552 City of Gaithersburg, MD 59,880 Dauphin County, PA** 251,798 Lower Merion Township, PA 59,850 Travis County, TX 242,519 City of Council Bluffs, IA 58,268 Cumberland County / Carlisle Borough, PA 241,212 City of Rocky Mount, NC** 55,466 Henry County, GA* 217,739 Village of Oak Park, IL 52,524 Washington County, PA* 202,897 Millcreek Township, PA 52,121 Beaver County, PA* 181,412 City of Cleveland Heights, OH 49,958 Cities above 100,000 City of Harrisonburg, VA** 48,914 City of Colorado Springs, CO 416,427 Atlantic City, NJ 39,416 City of Cleveland, OH 393,806 City of Annapolis, MD 35,838 City of Sarasota/ Sarasota County, FL 379,448 City of Atlantic City, NJ* 35,770 City of Fort Wayne, IN 265,904 City of Williamsport, PA 30,706 City of Buffalo, NY 261,310 City of Easton, PA 26,263 City of Jersey City, NJ 240,055 City of Lebanon, PA 24,461 City of Johnstown, PA* 23,906 City of Hazleton, PA* 23,329 City of Ocean City, NJ* 15,378 Recent examples of our AI and AFH work products are highlighted are the following pages. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 11 Harrisonburg, VA The City of Harrisonburg and the Harrisonburg Redevelopment and Housing Authority collab- orated on . marking a sea change in the way municipaLities approach fair housing issues. M&L led an extensive public engage- ment process and analyzed data about segregation, poverty, neighborhood opportunity, persons with disabilities, publicly supported housing, and more. The goals resulting from the AFH process included I I I I I , . The accompanying metrics were used by the City and HRHAto Dauphin County, PA Dauphin County's Department of Community and Economic Devel- opment and Housing Authority partnered together to prepare a joint Assessment of Fair Housing. After extensive data analysis, M&L across the county. The recomrrenda- tions designed to help the county address these factors included DCED and HACD relied on these recommendations to construct their next five-year strategic plans. elandLnot proioct-/nom,,orburq afh mandLnec/p oiects/dauphi-co,nty-afh City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 12 Allegheny County, PA Aided by an extensive stakeholder consultation process, Allegheny County set the context for this analysis as expanding access to housing opportunities. Allegheny Places, the County's first comprehensive land use plan, was taken as a model for Using the result of this analysis, Allegh- eny County Economic Development will carry out their federal programs in ways that attempt to balance the with the creation of � MAP1g mand.. i et/ orojects/ aLec hent' -county -a Piedmont Triad Region, NC Legend — n,.... opprnuniry imea.xorea inn ism .a N A this study covered the Cities of Burlington, Greensboro, and High Point, and the Surry HOME Consortium, all of which receive federal funds directly from HUD, as well as 67 other municipali- ties and 12 counties within the Triad region that are eligible for HUD funding through the state. From our data analysis, M&L identified a between concentrated areas of poor, non-white households and communities with relative "opportunity." Among the priorities identi- fied in the AFH to increase housing choice were close to needy neighborhoods, and more in higher opportunity areas. macd_cet/orojects/oiedmont afh City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 13 New Rochelle, NY Despite being within one of the wealth- iest counties in New York State and only a 30 -minute commute to Midtown Manhattan, the City of New Rochelle has retained its own local character and rela- tive affordability. However, the city Is not immune to regional trends and is now experiencing in a significant way for the first time. As a result, residents are worried about the In addition to the standard analysis requ red for any AFH, this project called for special ma ndrnet/projects/new-roc�etre-afh State of New York M&L to produce two unique Al documents for New York State Homes and Community Renewal (HCR). In addition to the components standard to every Al, HCR's principal Al Included a detailed as well as an unprecedented in the state. A second Al was comprised of only those counties that received CDBG Disaster Recovery funding following the series of severe weather events in 2011-2012, and included an City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 14 >� �. s Opportunity Areas and ROAPs M -j 17 mardl.net/projects/nys ai as well as an unprecedented in the state. A second Al was comprised of only those counties that received CDBG Disaster Recovery funding following the series of severe weather events in 2011-2012, and included an City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 14 Since 2020, MftL has completed the following Analysis of Impediments to Fair Housing Choice: State of Rhode Island (2020) State of Kansas (2023) State of Kentucky (2020) City of Youngstown, OH (2023) Omaha, NE (2023) Dauphin County, PA (2022) Henry County, GA (2023) City of Waco, TX (2020) Montgomery County, TX (2023) New Rochelle, NY (2023) City of Pueblo, CO (2020) Morris County, NJ (2020) Passaic County, NJ (2023) Orange County, NY (2021) Temple, TX (2021) Washington Co., PA (2021) Housing Studies These work products demonstrate our capabilities relative to data collection and statistical analysis. Some of these assessments were designed to assist the client in complying with HUD Five -Year Consolidated Plan and fair housing planning requirements. Others were designed to assist state housing finance agencies in establishing housing policy. Each of these assignments involved a data -driven analysis of housing need and affordability at various household income levels. In 2023, M&L completed the following housing studies: • State of Geogia Housing Needs Assessment • Update to the Louisville, KY Housing Needs Assessment • Monroe County, PA Housing Needs Assessment • Centre County, PA Housing Needs Assessment - Note State College is where Penn State is located and very similar to Iowa City. In addition, we are in the process of completing a Housing Needs Assessment for the City of Garland, TX. Highlights of our more recent housing studies are included on the following pages. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 15 Housing Units 11., nnp ,n, pn l b to"',_'.,, 2... mand- iet/projects/o ttsburch-hna Pittsburgh, PA The City of Pittsburgh created the Afford- able Housing Task Force in 2015 to in the city, evaluate current programs and initiatives to pro- duce new affordable units and preserve existing ones, and make recommen- dations to the Mayor and City Council. M&L worked with the Task Force's Needs Assessment subcommittee to study and analyze the This involved describing supply and demand, identifying housing gaps, and at the neighborhood Lev- el. The Task Force used the final report to support and inform the policy recommen- dations present to Council and the Mayor. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 16 State of Washington KIN G COUNTY Prepared for the Affordable Housing Advisory Board, the Department of Commerce, and the Housing Fi- : nance Commission, this study was an in Washington State. To maximize the usablhty of the re- port for legislators and affordable housing practitioners, M&Lfocused only on select, key indicators of the o ® ® © s statewide housing market. In order to answer all of the - -" posed research questions, M&L completed every point of analysis for different income tiers, for both renters and homeowners, and at unique geographies requested by the diverse client team. This meant such as the affordable housing gap analysis popularized by the National Low Income Housing Coalition and Urban Institute. In addi- tion, M & L compiled the most complete and detailed — j Inventory of subsidized housing the state had ever un- dertaken. The result was a that included a for all 39 counties as well as 17 urban regions In the state. maid[. nedp-ojects/washirgton-hna Westmoreland County, PA This Housing Plan provides a narrative of ma- jor findings regarding Westmoreland Coun- ty's housing market, addresses future goals, and provides a Recom- mendations include steps that will improve the living environment for residents, preserve the existing housing stock, assist community groups to enhance neighborhoods, target investments and incentives to identified needs, and establish a framework for focusing investments. Beyond that, the Plan contains in Westmoreland County using a "typology" system; for instance, actions that would be appropriate in strong vs. weak housing markets, in urban vs. rural areas. This will ensure that the county's policies consider the wide range of issues affecting its diverse communities while still advancing overall housing goals. _ HOMEOWNERSHIP RATE n. FELL " 1.7% 2.0% 4.6% LOWEST 1'4 INIMFOWNERSHIP y'� R11T ES mand..ret/projects/wetmorerand-housirq-plan City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 17 Legentl Coel Bu•tlenetl Renters 0°e- 58Ye - R5.&ie J9.P^e 942Vo-50.'M m,oro-aou � ee.wio-e_,A pavBo Ja• San Antonio, TX Colorado Springs/ EI Paso County, CO Given steadily increasing demand for affordable housinc and shrinking local budgets, the City of Colorado Springs and LL'aso County needed to This required b -Dad knowl- edge aoout the current .ocal housing market and how it might change in the future. M&L completed an assessment of local demographic, hcusinq, and economic conditions, a description of unmet housinc needs, and an Among other things, cur research revealed that elderly and Millenial households MIL. drive future housing demand, and that affordable housinc is already in short supply and will only get scarcer. The city and county will use this informa- tion to in certain neighborhoods to achieve the largest impact. San Antonio, the fastest-growing large city in the US between 2000 and 2010, commissioned a needs assessment to to determine effectiveness on current market conditions, of sales and rental housing, and for the next five years. A final strategic plan component offered As a sub -consultant on the project team, M&L enumerated the current and projected housing need for low-income households and crafted specific initiatives to mat ltn4/pined-,mrorad spring,,-hna These recommendations included designating neighborhoods for intensive community development revitalization, creating a Neighborhood Revitalization Strategy Area (NRSA) in conjunc- tion with a recent Choice Neighborhood award, and partnering with the public housing authority to implement an acquisition/ rehabilitation initiative for vacant multi -family rental properties -raid_net/projects/_,ai-antcnlc-ina City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 18 Commonwealth of Puerto Rico Puerto Rico's stagnant economy, high unemployment, and high poverty have caused signifi- cant out -migration of its working -age families to mainland U5. As a result, the This demographic transition directly impacts the housing market, requiring specific approaches not only for providing appropriate shelter but also for providing the complementary services. This Plan emphasized to support affordable housing programs. Key recom- mendations included the creation of a Housing Policy and Implementation Committee to bring together key stakeholders, the creation of Regional Housing Councils, preparation of an Omni- bus Housing Bill, and the modification of construction design standards to ones appropriate for the island climate and location. mana..neVorojec[s/ouerro- ice- ousinq-oron CDBG & HOME Technical Assistance V;% Typically, we function as an extension of the grantee's staff. Our clients call upon us frequently to provide advice and background information relative to regulatory issues, both CDBG and HOME, as well as other federal requirements such as procurement and contracting, acquisition, relocation, environmental compliance, labor compliance, and equal opportunity. M&L's clients rely on our staff's experience in CDBG and HOME issues. Whatever the project or question, chances are good that members of our firm have been involved in similar projects with other clients. We have worked extensively with CDBG since the program's inception in 1974 and with the HOME Program since its beginning in 1991. We help our clients to resolve eligibility and statutory objective issues in the early stages of a project, which helps to eliminate problems or make problems more manageable when and if they occur. We often provide alternative strategies toward a specific client objective, then assist the client in selecting a preferred course of action. Certain CDBG and HOME responsibilities are highly complex and may require third- party support. For example, utilizing CDBG funds in support of economic development activities can be quite challenging. We assist our clients in evaluating the potential problems and rewards of these higher risk activities. We also assist in structuring relationships with sub -recipients. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 19 San Juan . " __ .. OWNRIM CDBG & HOME Technical Assistance V;% Typically, we function as an extension of the grantee's staff. Our clients call upon us frequently to provide advice and background information relative to regulatory issues, both CDBG and HOME, as well as other federal requirements such as procurement and contracting, acquisition, relocation, environmental compliance, labor compliance, and equal opportunity. M&L's clients rely on our staff's experience in CDBG and HOME issues. Whatever the project or question, chances are good that members of our firm have been involved in similar projects with other clients. We have worked extensively with CDBG since the program's inception in 1974 and with the HOME Program since its beginning in 1991. We help our clients to resolve eligibility and statutory objective issues in the early stages of a project, which helps to eliminate problems or make problems more manageable when and if they occur. We often provide alternative strategies toward a specific client objective, then assist the client in selecting a preferred course of action. Certain CDBG and HOME responsibilities are highly complex and may require third- party support. For example, utilizing CDBG funds in support of economic development activities can be quite challenging. We assist our clients in evaluating the potential problems and rewards of these higher risk activities. We also assist in structuring relationships with sub -recipients. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 19 We prepare subsidy layering analyses and written agreements in support of HOME activities. If grantee activities result in monitoring or audit findings, we assist our clients with resolving these issues. Recently, our technical services have included developing Policy Et Procedure Manuals for clients to assist in the administration of their CDBG and HOME Programs. We also have developed similar manuals for the environmental review process to assist clients in this aspect of their entitlement grant administration. Since 2020, M&L has been extremely active in providing all of our HUD entitlement community clients with direct technical services to assist in the implementation of COVID-19 funding as it relates to the CARES Act and American Rescue Plan funding that has been allocated by HUD. Our services have included: Preparing substantial amendments to FY 2019 program years to allow for the CDBG-CV and ESG-CV funding allocations Assisted communities in determining project eligibility and meeting National Objectives with the CV funding Amending Citizen Participation Plans to allow for remote public meetings and expediated public display and local approvals Preparing subrecipient agreements Providing technical assistance and guidance related to the use of the CV funding Providing economic development underwriting services for business being assisted with CDBG-CV funds Obtaining ERR clearance and documentation to meet HUDs requirements Provided clients with on-going updates related to HUD guidance as it was issued Prepared ESG-CV subrecipient agreements that comply with HUD regulations Providing on-going technical assistance Assisting in the development on new HUD reporting requirements for CDBG-CV and ESG-CV funding Prepared at total of 25 HOME ARP Allocation Plans in 2022-23 for various clients across the country. Preparing HOME ARP Policy and Procedures Manuals and HOME ARP RFPs This has included preparing local applications and development of related forms to assist in review, selection and award process. Examples of our work includes: - The city hired M&L to address various HUD CDBG and HOME timeliness and expenditure issues. Our work included identifying higher- cost eligible projects that could be funded and implemented immediately. We worked with CDBG/HOME staff and other city departments to prepare a local RFP for contractors to solicit bids on a number of streets projects and the rehabilitation of local senior centers to be funded with CDBG funds. We worked with the Public Works Department to identify qualified streets and determine the number that could reasonably be expected to be paved by in-house employees and those that would have to be completed by outside contractors. M&L reviewed the bid specs for City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 20 - regulatory compliance and assisted the City in reviewing the proposals. We also assisted with the selection of contractors based on bids received. - MEtL worked with the city to allocate HOME funds and local Affordable Housing Trust funds. M&L provided various sample forms that were used as part of the city's overall RFP to local developers for affordable housing projects. M&L reviewed all applications received for regulatory compliance with HOME and the local Affordable Housing Trust funds. MEtL provided technical assistance as part of the funding recommendations, which the city used for awarding funds to the highest - scoring projects based on the RFP criteria. MEtL works annually with the county to allocate their CDBG, HOME and ESG funds. MEtL provided various sample forms that were used as part of the city's overall RFP to local developers for affordable housing projects. MEtL also reviews all CDBG, HOME and ESG applications received and for regulatory compliance. MEtL provides direct technical assistance as part of the funding recommendations, which the County uses in cooperation with the County CD Committee for awarding funds to the highest -scoring projects based on the RFP criteria. Many clients rely on M&L's understanding of other funding programs to leverage CDBG and HOME funds. We use our knowledge of state and federal housing and economic development programs to provide value to our clients every day. Our complete CDBG/HOME client list is included in of our proposal. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 21 Proposed Staffing Plan The MEtL project team consists of 4 professional staff, including one principal shareholder of the firm, a Senior Project Manager and two or three staff planners. Once assigned to the project, the staff will remain with the project throughout the engagement. Every member of our team brings specialized skills to the assignment. We assign tasks and sub -tasks to team members based on their expertise, interest and experience. Bill Wasielewski, President will serve as Principal -in -Charge of this assignment. Serving as Project Manager will be, our Senior Project Manager and/or a Project Manager with assistance from the Principal. Our project management model involves the establishment of internal deadlines that occur 10-14 days prior to a deadline for a client deliverable. This cushion allows for adequate editing, as well as time to conduct project run-throughs on data analysis, presentational logistics, etc. Once internal deadlines are established, weekly or bi-weekly project meetings are conducted with all assigned staff to answer questions, address unforeseen issues, resolve problems with research or mapping, re -adjust a methodology if preliminary results are unexpected or suspected to be in error, etc. Such frequent internal staff meetings ensure continuous dialogue among project staff members and the opportunity to identify small problems long before they snowball into larger, unmanageable issues. Mullin & Lonergan Associates City of Iowa City, IA Project Organzational Chart BIII Waslelewskl, President Donna King Danielle Brown Ellanne Dao, Kevin Tang Hannah Genovese City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 22 William Wasielewski Principal -in -Charge and Primary client liaison; fair housing President Project Manager planning expert; Housing Needs Development Specialist Assessment Manager, and Housing billwl7a mandl.net Equity Plan manager, oversight of manage all data and mapping community engagement, meeting presentations; final document quality Donna King Senior Project Manager CDBG. Will be the day-to-day project Senior Project Manager manager for both the CP. donnak(a)mandl.net Kevin Tang Housing & Community Research, analysis, will assist with Kevint(obmandl.net Development Specialist Housing Needs Assessment and manage all data and mapping requirements. Will be responsible for work on the Fair Housing Equity Plan. Elianne Daou Housing & Community Research and analysis, community elianned(a)mandl.net Development Specialist engagement initiatives, drafting documents. Will assist on the HNA and CP. Hannah Genovese Housing & Community Research and analysis, community hannahg at7.mandl.net Development Specialist engagement initiatives, drafting documents. Will assist on the CP and Fair Housing Equity Plan. Resumes for all key MEtL personnel assigned are included on the following pages. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 23 -ML ULLTN LONERGAN ASSOCIX1'ES William P. Wasielewski, AICP has nearly 20 years of experience in the field of housing and community development consulting. Mr. Wasielewski began his career with Mullin & Lonergan Associates in 1993 and has assisted many of the firm's client communities and non-profit organizations. Between 1999 and 2003, Mr. Wasielewski worked as a project manager for a national non-profit housing developer directing five HUD technical assistance grants (CDBG, CHDO, HOME and SHP) in the Pittsburgh HUD office totaling over $800,000. In addition, he was a project manager on the $17 million Wheeling, WV HOPE VI development. Mr. Wasielewski returned to Mullin Et Lonergan Associates, Inc. in 2003 as a project manager and became a Principal of the firm in 2007. Mr. Wasielewski currently holds the position of President with M&L and is responsible for overseeing all of the firm's HUD entitlement work. He is an expert in all aspects of housing, community planning, and development. He provides consulting services to the firm's clients through day-to-day technical assistance on CDBG and HOME regulatory issues, HOME subsidy layering analysis, Consolidated Annual Performance and Evaluation Reports (CAPER), Neighborhood Revitalization Strategy Area (NRSA) development, HOME Consortium renewals, HOME sub -recipient agreement preparation, HOME on-site project monitoring, and HUD's Neighborhood Stabilization Program (NSP) design and implementation. His recent Consolidated Plan assignments include Garland, TX, Temple, TX, Westmoreland County, PA, Allegheny County, PA, and Knox County, TN. Education University of Pittsburgh; 1993 Professional Experience Principal Pittsburgh, PA; 2003 — present Urban Planner Pittsburgh, PA; 1993 — 1999 Affiliations American Institute of Certified Planners American Planning Association Gannon University; 1990 Project Manager Pittsburgh, PA; 1999 — 2003 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 24 MULLTN LONERGAN ASSOCIXfES Donna King Donna is an experienced community development manager and has managed HUD programs across multiple sectors. Her background in the public sector includes extensive experience working for HUD entitlement communities and administering CDBG programs, with private sector experience working for a consultant managing HUD disaster recovery programs, and non-profit sector experience managing HUD multifamily affordable housing projects. Donna's experience allowed her to develop expert level knowledge of CDBG programs and IDIS- She has practitioner level experience in the development of Consolidated Plans, Annual Action Plans, and CAPER reports. She has developed policies and procedures for program implementation and monitoring of activities. Prior to joining MEL, Donna worked as a CDBG coordinator, a compliance manager, and later division manager for qualified urban counties in Central Florida. Her prior work experience includes planning and policy making for a private sector consulting firm, and HUD affordable housing compliance experience for a faith -based non-profit organization which managed HUD subsidized multifamily properties. Education Urban and Regional Planning University of Central Florida 2022 Professional Experience Housing and Community Development Senior Project Manager Pittsburgh, PA 2023 — present Policy Analyst/Planner Maitland, FL 2019-2021 Compliance Officer Sanford, FL 2016-2017 CDBG Coordinator DeLand, FL 2009-2014 Criminal Justice University of Central Florida 1989 Housing Compliance Manager Orlando, FL 2021-2023 Division Manager Sanford, FL 2017-2019 Grants Analyst Kissimmee, FL 2014-2016 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 25 MULLTN LONERGAN ASSOCIXfES Kevin Tang, MPA Kevin Tang is focused on exploring and experimenting with data to find relevant and innovative methods for building more resilient communities. Creating maps that are important tools in decision making is one of his strengths. Kevin's experience in academia and the nonprofit sector serves as a boon for organizing, visualizing, and communicating data in an accessible manner. Prior to joining MBL, Kevin served as the Lab Manager for the Dong Lab in the University of Pittsburgh's Department of Neuroscience. In this role, he served as the database manager for the lab's 2,000 -large mouse colony along with acting as the primary liaison between the lab and other university departments and collaborators. More related to MftL's work, Kevin served as a project fellow with Allegheny River Towns Enterprise Zone (ARTEZ), conducting primary data collection and visualization through community engagement for the Borough of Sharpsburg on issues related to blighted properties and unmet needs. He is currently working with Youngstown, OH, Wilmington, DE, Williamsport, PA, Passaic County, NJ, Rocky Mount, NC, Pueblo, CO, and Beaver County, PA. Education University of Pittsburgh 2019 University of Pittsburgh 2014 Professional Experience Housing and Community Research Analyst Intern Development Specialist Pittsburgh, PA Pittsburgh, PA 2019 2019 - present Lab Manager Pittsburgh, PA Project Fellow 2015-2018 Millvale, PA 2014- 2015 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 26 MULLN LONERGAN ASSOCINfES Elianne Daou Elianne's background in the public sector includes experience in community and economic development, as well as copywriting and digital design work for non-profit organizations. Prior to joining M&L, Elianne worked as a Lehigh University Community Fellow for the City of Bethlehem (PA) Department of Community and Economic Development where she assisted with regional and statewide grant applications, generating maps and data analyses with ArcGIS, and creating accessible infographics and reports on community data. She used some of these same skills to complete a research fellowship during her time at Lehigh University, where she studied the relationship between redlining policies in the mid -1930s and current gun violence trends in Baltimore neighborhoods. In previous years, Elianne was able to develop her writing and digital design skills while interning for CITYarts, a non-profit organization based in New York, and for the United Nations Office of Information and Communications Technology. At M&L, she is working on environmental reviews, HUD Consolidated Plans, Annual Action Plans, CAPERS and Analyses of Impediments to Fair Housing Choice. Education Lehigh University 2022 Professional Experience Housing and Community Development Specialist Pittsburgh, PA 2022 — present Communications and Outreach Intern New York, NY 2021 Student Technician 2017-2020 Pace University 2020 Department of Community & Economic Development Lehigh University Community Fellow Bethlehem, PA 2021-2022 Design Intern New York, NY 2020-2021 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 27 -ML ULLTN LONERGAN ASSOCIXfES Hannah Genovese, MPA Hannah Genovese specializes in community development and affordable housing products. She possesses advanced skills and knowledge in the subjects of neighborhood and community development, mapping, program evaluation, and public administration through her graduate studies. Prior to joining MBL, Hannah interned with Cranberry Township, Pennsylvania's Planning and Development Services department on projects related to revising the township's ordinances and creating a best practices document for homeowners' associations, which is displayed on the township website. She also worked for several years as a Transportation Coordinator for PPG Architectural Coatings, managing transportation of products to several high-volume accounts. During her graduate studies, she served as a Program Manager for the Allegheny County Policing Project, which keeps a database of over 100 police union contracts for the departments in Allegheny County and works with community groups on issues concerning police accountability. Through this position, she coordinated weekly community meetings, assigned tasks to volunteers, and directed overall group strategy. She is currently working with Staunton, VA, Waynesboro, VA, Wilmington, DE, Washington County, PA, New Castle, PA, and New Kensington, PA. Education University of Pittsburgh 2023 Professional Experience Housing and Community Development Specialist Pittsburgh, PA 2023 - present Intern, Planning Et Development Services Cranberry Township, PA 2022 Pennsylvania State University 2015 Program Manager Pittsburgh, PA 2021- 2023 Transportation Coordinator Cranberry Township, PA 2015 - 2021 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 28 Section 3- Five Year CP/AAP Work Plan FY 2025-2029 Consolidated Plan & FY 2025 Annual Action Plan M&L will assist Iowa City with preparing the Consolidated Plan and Annual Action Plan for the period beginning July 1, 2025 for submission to HUD on or before May 15, 2025. The Con Plan will be prepared in a manner that incorporates HUD's eCon Planning Suite in IDIS. In preparing this document, we will be guided by Part 91, Subpart D regulatory requirements; the May 2018 Desk Guide for Using IDIS to Prepare the Consolidated Plan, Annual Action Plan, and CAPER/PER reflecting the release of IDIS version 11.16; our general background and experience in preparing Con Plans; and the City's planning procedures that have worked well in the past. We are prepared to adjust the Work Plan based on input from the City. Initial Project Planning Meeting with Staff Upon receipt of a signed contract, we will schedule a conference call with staff to discuss a detailed Project Schedule to meet the objective of providing all deliverables by as requested in the RFP. Obtaining IDIS Access Completion and submission of the IDIS Online Access Request Form to the City for our project team to have limited access to the City's IDIS system for preparing the Con Plan in the eCon Planning Suite template Review of the City's HUD -approved Citizen Participation Plan A review of the City's Citizen Participation Plan developed in accordance with 24 CFR Part 105 is required with each Con Plan cycle. We will recommend revisions as necessary, and the amended version will be placed on public display with the Con Plan and submitted to HUD for approval. Identification of Stakeholders M&L will work with staff to refine a comprehensive list of stakeholders whose input would be sought during the preparation of the Al. The stakeholder sessions for the Al will also inform the Con Plan. Based on HUD requirements and our experience, the following stakeholders are recommended: The local Housing Authority City Department directors from Planning, Public Works, Parks Et Recreation, Emergency Management, etc. Affordable housing providers, including CHDOs Health and child welfare agencies concerning lead-based paint hazards Public and private agencies that address housing, health, social services, victim services, employment, and education needs of low-income, homeless, and special needs populations City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 29 - Social service providers including those focusing on services to minorities, families with children, the elderly, persons with disabilities, persons with HIV/AIDS and their families, homeless persons, and other protected classes The local CoC Neighborhood and community-based organizations Local government agencies involved in metropolitan -wide planning responsibilities that extend beyond a single jurisdiction (e.g., Transit, agencies whose primary responsibilities include the management of flood prone areas, public land or water resources, and emergency management agencies) Workforce development entities, including local school districts, technical and community colleges Broadband internet service providers and organizations engaged in narrowing the digital divide Advocacy organizations for persons with limited English proficiency, immigrants and refugees Faith -based organizations Other entities identified by staff as appropriate for interviewing Review of Local Documents At the outset of the planning process, M&L will obtain and review local documents, such as the following, for relevant information that can supplement the HUD -provided data in the Con Plan template: Comprehensive Master Plan Affordable Housing Strategy Zoning, subdivision and related land use regulations 2020-2024 Consolidated Plan and Annual Plans Continuum of Care Reports Current HUD -approved Citizen Participation Plan Analysis of Impediments of Fair Housing CDBG CV, HOME ARP and other related COVID 19 pandemic programs Other documents recommended by City staff Develop a FAQ Sheet M&L will create a FAQ Sheet for distribution throughout the planning process. The two- sided, one-page sheet will include a basic series of questions and answers (What is the Consolidated Plan? What is the AAFFH? How do these impact my community? How can 1 get involved?) and will be made available at all venues (workshops, meetings, public offices, etc.). The sheet will be colorful, utilize graphics and be made available in English and Spanish, if required. Conduct up to Six Stakeholder Workshops MEtL proposes to conduct up to six Stakeholder Workshops to engage local stakeholders and other interested parties. Each workshop will be scheduled for 75 minutes and focus on a specific topic. Possible topics might include: Affordable Housing / Fair Housing (barriers, opportunities, etc.) City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 30 - Enhancing Access to Community Assets for LMI Households (employment, transit, child care, substance abuse recovery, job training, etc.) Workforce Development Engagement for LMI Persons (job training, education, economic development, etc.) Healthy Housing Et Safe Neighborhoods (infant mortality, food security, access to health care, crime -free communities, lead-based paint, etc.) Housing the Homeless 8 Near -Homeless (challenges, needs, innovative initiatives, etc.) Housing for Special Needs Populations (people with disabilities, elderly, persons in recovery, etc.) Municipal Department Planning (planning, code enforcement, public works, engineering, transit, etc.) We will consult with staff to identify topics that are relevant to current trends and issues in Iowa City. A List of Questions will be utilized in each workshop to stimulate discussion. Stakeholders will be invited to attend any one or more of the topical workshops of their choosing. Our experience using this methodology has resulted in much more dynamic discussions involving a wider variety of stakeholders who are focused on topics tailored to the trends and conditions of a community. Design and Implement a Web -based Survey M&L will provide a draft survey instrument appropriate for identifying housing and community development needs. The web -based survey will be designed to accommodate responses from community leaders, social service assistance organizations, and the general public. This single logic survey, in both English and Spanish, will be hosted by Survey Monkey. The survey will be available online. Paper copies can also be made available at all stakeholder workshops and public meetings conducted as part of this process. Ideally, the survey would be launched the week before stakeholder workshops and public meetings to maximize marketing efforts. All surveys will be tabulated and analyzed for incorporation into the Al and the Con Plan documents, where appropriate. The distribution method and advertising campaign for the survey can be developed upon contract execution. Facilitate Four Public Meetings M&L will facilitate four public meetings. The first two meetings will be conducted in locations of the City's choosing. Our goal for each meeting is to actively engage participants in a discussion focused on affordable housing and community development needs. We will utilize a PowerPoint presentation to achieve this goal and provide copies of the FAQ Sheet with a link to the online survey. The second set of two meetings will occur once the AFFH, Con Plan and Annual Plan have been placed on public display. The goal will be to summarize the major findings, identify the priority needs and set forth the recommended strategies. As before, we will utilize a PowerPoint presentation. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 31 The Con Plan will describe the estimated housing needs and needs for supportive services projected for the next five years. Housing data will reflect consultations conducted with housing provider agencies, nonprofit organizations and social service agencies (including those focusing on services to children, elderly persons, persons with disabilities, persons with HIV/AIDS and homeless persons) that provide assisted housing, health services and social services. Categories of Persons Affected The need for assistance for extremely low income, very low income, low income and moderate -income families, for renters and owners, elderly persons, large families and persons with disabilities. The description of housing needs will also include a discussion of the degree of cost burden and severe cost burden, overcrowding (especially for large families), and substandard housing conditions being experienced by extremely low income, very low income, low income and moderate -income renters and owners compared to the City as a whole. To the extent that any racial or ethnic group is identified to have a disproportionately greater need in comparison to the needs of that category of household as a whole, an assessment of that specific housing need will be included. Public Housing Residents The needs of current public housing and Housing Choice Voucher households, as well as families on the waiting lists for public housing and Section 8 vouchers. Homeless Needs The nature and extent of homelessness using HMIS and the most recent Point -in - Time count from the regional Continuum of Care. The Con Plan will include an estimate of the special needs of various categories of families and individuals who are chronically homeless or are threatened with homelessness (such as persons with mental illness or with substance abuse problems) and a description of the nature and extent of homelessness by racial and ethnic group, to the extent that information is available. Non -Homeless Special Needs The level of housing need for persons who are not homeless but require supportive housing, including the elderly, frail elderly, persons with disabilities, persons with substance addiction, persons with HIV/AIDS and their families, public housing residents, and other categories that may be appropriate. Non -Housing Community Development Needs A concise summary of the City's priority non -housing community development needs, including public facilities, public improvements, public services and other eligible uses of CDBG funding. The basis for this section will be the summary of public participation. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 32 General Characteristics The significant characteristics of the local housing market, including such aspects as the supply, demand, condition and cost of housing, including lead-based paint hazards, including identification of any areas of concentration of minority persons and LMI residents in the City. Lead -Based Paint Hazards Estimate the number of housing units that may potentially contain lead-based paint hazards and are occupied by LMI families with children. Public Housing Description of the number of public housing units, the physical condition of these units, the restoration and revitalization needs, results from the Section 504 needs assessments and strategies for improving the management and operation of public housing, as well as improving the living environment of low and very low-income families residing in public housing. The Con Plan will also identify the public housing residential communities that will be improved with Capital Fund resources from HUD as well as those proposed for RAD conversion. Assisted Housing Description of the number and targeting (by income and type of family) of units currently assisted by public funds and an assessment of whether any such units are expected to be lost from the local inventory, including expiring Section 8 contracts. Homeless Facilities Brief inventory of facilities and services that meet the emergency shelter, transitional housing, permanent supportive housing and permanent housing needs of homeless persons made available from the Continuum of Care. Special Need Facilities and Services Description of the housing stock available to persons with disabilities and other LMI persons with special needs, including persons with HIV/AIDS and their families. We will describe the facilities and services that assist persons who are not homeless but who require supportive housing and supportive programs for ensuring that persons returning from mental and physical health institutions receive appropriate supportive housing. Barriers to Affordable Housing Explanation of whether the cost of housing or the incentives to develop, maintain, or improve affordable housing in the City are affected by local public policies, to be obtained from the City's new AFFH Equity Plan. Non -Housing Community Development Assets A concise summary of the priority non -housing community development needs that are eligible for assistance. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 33 MEtL will prepare the Strategic Plan in accordance with 24 CFR Part 91.315. Where appropriate, relevant information from other City plans will be incorporated and referenced appropriately. General Characteristics Based on input received through outreach efforts and the data analysis, MEtL will define priority needs. For each of the priority needs identified, the CP will include: The reasons for the choice of priority needs, describing the choice in terms of housing need (income, tenure, housing problems) and identifying obstacles for addressing the underserved needs The specific objectives with each objective identifying the key goals in quantitative terms along with numeric and other measurable indicators of progress and a target date for completion, and A description of the resource allocation geographically and among different activities. Resources At the beginning of the Con Plan process we will review the City's CDBG and HOME programs and policies. Based on staff discussions and our experiences in other grantee communities, we will recommend financial term options to be considered when funding activities under these programs. Description of the full range of federal and other resources that are available to assist the City in meeting its housing and community development needs. o Federal Resources - expected federal resources to be available to address the needs identified within the Con Plan. o Other Resources - resources from private and non-federal public sources that are reasonably expected to be available to address the needs. The Con Plan will include an explanation of how federal resources will leverage additional resources, including a description of how matching requirements of HUD programs will be satisfied. Institutional Structure Goals Description of the strategy to overcome the gaps in the institutional structure for carrying out its strategy for addressing its priority needs. Summaries of the objectives the City intends to initiate and/or complete during the five-year period. For each objective, the Con Plan will identify proposed accomplishments and quantitative outcomes, as provided in the IDIS Goal Outcome Indicators (GOI). City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 34 - Public Housing Description of activities to encourage resident involvement in management and to participate in homeownership and how the City will address the needs of public housing. Barriers to Affordable Housing Description of the strategy to remove or ameliorate negative effects of public policies that serve as barriers to affordable housing based on research conducted for the new AFFH. Homelessness Strategy The Plan will include a description of the strategy for identifying resources to be used for the following: Helping low income families avoid homelessness Reaching out to homeless persons and assessing their individual needs Addressing the emergency shelter and transitional housing needs of homeless persons, and Helping homeless persons make the transition to permanent housing and independent living Lead -Based Paint Hazards Actions proposed or being taken to evaluate and reduce lead-based paint hazards, and a description of how lead-based paint hazard reduction will be integrated into housing policies and programs. Anti -Poverty Strategy Description of the City's goals, programs and policies for reducing the number of poverty level households and how the goals, programs and policies for producing and preserving affordable housing will be coordinated with other programs and services for which the City is responsible and the extent to which they will reduce or assist in reducing the number of households with incomes below the poverty line. How these initiatives will be coordinated with other programs will be concisely summarized. Monitoring Description of the standards and procedures which the City uses to monitor activities to be carried out in furtherance of the Con Plan. The current Monitoring Plan will be utilized, as well as any revisions proposed, will be the basis for this section. Certifications Current certifications required by HUD. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 35 Based on feedback from staff, MEtL will revise the draft Needs Assessment, Market Analysis and Strategic Plan sections and provide a complete version of the Con Plan to staff. This version will include the Executive Summary (ES) and Process (PR) sections. Expected Resources A concise summary of the federal resources expected to be available including grant funds, anticipated program income, and other resources such as private and non-federal public sources that are reasonably expected to be available to carry out the Strategic Plan over the course of the program year. MEtL will explain how federal funds will leverage these additional resources. Annual Goals and Objectives A summary of the specific goals the City intends to initiate and/or complete within the program year. Allocation Priorities The City's allocation priorities and how the proposed distribution of funds will address the priority needs and goals of the Strategic Plan. Method of Distribution Description of the criteria used to select grant applications, the relative importance of these criteria, how resources will be allocated among funding categories, threshold factors and grant size limits, and outcome measurements expected as a result of the method of distribution. Projects Preparation of the Proposed Project Pages. Geographic Distribution Generate a series of GIS maps to indicate geographically how the City will provide direct assistance to LMI and minority concentrated areas during the program year. Affordable Housing Specify goals for the number of homeless, non -homeless, and special needs households to be provided affordable housing within the program year, indicate the number of affordable housing units that will be provided by program type, including rental assistance, production of new units, rehabilitation of existing units, or acquisition of existing units. Public Housing Describe what actions the City will take in the program year to carry out the public housing portion of the Strategic Plan. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 36 - Homeless and Other Special Needs Activities One-year goals and the specific action steps to be undertaken in the program year to carry out the homeless strategy outlined in SP -60 Homelessness Strategy. The Annual Plan will also describe the one-year goals and specify the activities to be undertaken to serve the housing and supportive service needs of non -homeless populations who require supportive housing. Barriers to Affordable Housing Planned actions to remove or ameliorate the negative effects of local policies that serve as barriers to affordable housing. M&L will summarize appropriate barriers identified in the City's current Al for this purpose. Other Actions Planned actions to carry out the strategies outlined in the Con Plan relative to fostering and maintaining affordable housing, evaluating and reducing lead- based paint hazards, reducing the number of poverty -level families, developing institutional structure, enhancing coordination and identifying obstacles to meeting underserved needs and propose actions to overcome those obstacles. Program -Specific Requirements The method of distribution, including all selection criteria for funding, how CDBG and HOME resources will be allocated among funding categories, the threshold factors and grant limits to be applied. Based on feedback, M&L will revise the draft Annual Plan and prepare the document for public display. Once the revised planning documents are provided to the City for the public comment period, MEtL will initiate the IDIS entry process. Based on our experiences using the eCon Planning Suite, the later IDIS entry occurs in the development of the documents, the more efficient the process. Following the comment period, we will collaborate with staff to address comments received and incorporate them into the final documents as required. Electronic submission of these two documents to HUD will occur on or before May 15, 2025 in collaboration with staff. A draft document will be provided as required in the timeline from the RFP. Final deliverables to the City will include all electronic files the final version submitted to HUD. M&L will remain available to the City throughout the 30 -day HUD review period for the Con Plan and Annual Action Plan. We will assist in responding to any HUD questions that may arise relative to these documents. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 37 -Assistance Required from City During the preparation of these planning documents, MFtL will require assistance from City staff for the following tasks: Identifying and inviting community stakeholders to workshops (MEtL will provide the language for the email invite) Reserving meeting spaces for all public meetings and workshops Publishing of all public notices as required (M&L can provide draft notices) Posting and distributing notices and other alerts to encourage community participation (MEtL will provide flyers, email communications, FAQ Sheets, etc.) Providing for any language interpretation needed at stakeholder workshops or public meetings (MEtL can provide English and Spanish versions of meeting agendas, handouts, FAQs, and the online survey) Submitting IDIS Access Form to HUD on behalf of MEtL (MEtL will provide the form and forward to staff for completion and submission) Mailing letters to HUD and ICRC requesting housing discrimination complaint data (MEtL will provide draft letters to staff) Timely review and comment on draft agendas and other documents provided by MEtL Placing the draft documents on City Council agenda for consideration and action Proposed Schedule MEtL will meet the required timelines as outlined in the RFP and as shown on the chart below. Task Project Mobilization and Stakeholder/Particpation Needs Assessment Ma rketAna lysis Strategic Plan Draft CP Annual Action Plan Prepartion Revisions to CP/AAP Draft Final CP/AAP to City Submission to HUD in IDIS Date of Start April 1, 2024 May 1, 2024 May 1, 2024 J u ly 1, 2024 October 1, 2024 October 1, 2024 November 1, 2024 Date of completion 1 u ly 31, 2024 June 30, 2024 June 30, 2024 August 1, 2024 October 31, 2024 October 31, 2024 November 10, 2024 On or before Nov. 15, 2024 On or before Nov. 15, 2024 On or before May 15, 2025 On or before May 15, 2025 Proposed Staff Please see staff assignments for the CP/APP as shown earlier in this proposal. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 38 - AFFH Equity Plan MftL would prepare the AFFH it in a manner that is consistent with the proposed AFFH rule dated February 9, 2023. MftL will utilize, to the extent that it is available before April 1, 2024, the updated data analysis and maps generated by HUD using the HUD AFFH-T Data and Mapping online Tool for the Equity Plans. This data, along with the detailed community engagement as required under the proposed rule, will help inform a "Balanced Approach" to the preparation of the Equity Plan per the requirements at 5.154. M&L would recommend the preparation of the AFFH only once HUD finalizes the current proposed AFFH rule. Stakeholder Participation MftL would meet the required stakeholder participation for the AFFH It as outlined in the proposed AFFH rule. The stakeholder participation would meet the required community engagement, per Section 5.158 of the AFFH proposed rule. Additionally, the stakeholder sessions will be combined with the CP sessions as shown on the CP schedule chart for efficiency purposes. Specific attention will be placed on the required participation for the Equity Plan including, but not limited to: • Members of the protected classes • Underserved Communities and groups serving those communities • Fair Housing Assistance Programs (FAPs) • Fair Housing Initiative Programs (FIPs) • Housing Authorities • Advocacy Organizations for persons with disabilities • Centers for Independent Living • Protection and Advocacy Agencies • Aging and Disability Resources Centers • Organizations that serve Developmental Disabilities • Other related organizations • Persons experiencing homelessness • Survivors of domestic violence • Persons with criminal records • LGBTQ+ persons • Oher related organizations Task 1: Demographic Utilize the HUD AFFH-T Data and online Mapping Tool members to inform and analyze fair housing issues as they pertain to the protected classes (i.e., race, ethnicity, disability, familial status, etc.), areas of concentration of minorities and low-income persons identified, underserved areas, and persons with disabilities. Review of areas of Segregation and Integration Review of R/ECAPS Review of affordable housing opportunities Analysis of occupancy and waiting list characteristics for both public housing and the Section 8 Housing Choice Voucher Programs to determine the relative presence of members of the protected classes; analysis of geographic distribution of affordable housing facilities and programs, including public City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 39 - housing, Housing Choice Vouchers and other assisted or subsidized housing; analysis of any activities involving the demolition of public housing and the impact of such activities on members of the protected classes. Comparison of location of major employment centers to areas of concentrations of minorities and low-income persons Evaluation of loan denial data for minority applicants for three previous years and research of high-cost loan data and trends to define whether mortgage Loan products are available equally to persons in similar economic circumstances by race and ethnicity Inclusion of any relevant local/community data that relates to fair housing issues. Task 2: Review of Community Assets Review of community assets as they relate to infrastructure, programs, and facilities that provide opportunities and a desirable environment. Community assets include high performing schools, quality day care, childhood educational services, desirable employment opportunities, efficient transportation services, parks and recreational facilities, libraries, health care facilities grocery stores, retail establishments, municipal services and healthy neighborhoods. Assets also include services for persons with disabilities and community based supportive services. Task 3: Preparation of Fair Housing Goals Development of fair housing goals for the City based on the analysis conducted and input from the community engagement process. Goals will be designed and reasonably expected to overcome circumstances that cause, increase, contribute to, maintain, or perpetuate fair housing issues in the state. Goals will include a description of process oriented, specific measurable steps, timeframes for completion and amounts/sources of funds needed to implement. Fair Housing Goal categories will include integration/segregation, R/ECAPs, Significant disparities in access to opportunities, inequitable access to affordable housing and homeownership opportunities, laws and ordinances, policies and procedures, inequitable distribution of local resources and discrimination or violations of civil rights law. Task 4: Preparation of Fair Housing Strategies The Fair Housing Strategies will be prepared for City and include regional collaboration and coordination would be required to ameliorate fair housing issues. Prepare specific recommended policies and actions that will help implement fair housing goals as established in the fair housing goals. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 40 - These strategies will be used and incorporated in the States Con Plan and Annual Action Plan and PHA plans. Task 5: Publish Draft Equity Plan MEtL will provide a Draft Equity Plan document to the City staff for review and comment. The Draft Equity Plan will be provided in both Adobe Acrobat format and Word format to facilitate the convenient exchange of comments and revisions using Track Changes. MEtL will perform requested revisions on the draft document and provide up to two iterations to City. Our team members will schedule individual conference calls with City staff to review comments on the draft document, answer questions, and finalize revisions. MEtL will also input the plans in the required HUD format for AFFH as outlined in the proposed rule. Task 6: Publish Final Equity Plan Document M&L will incorporate any final revisions into the equity plan document, then publish and distribute 3 three bound copies the final version in MS Word and Adobe Acrobat formats. Proposed Schedule MEtL will meet the required timelines as outlined in the RFP and as shown on the chart below. Task Sta keholder/Pa rticpati on Demgraphic Analysis Review of Community Ass essts Preparaton of Fair Housing Goals Preparation of Fair Housing Strategies Draft Equity Plan Final Equity Plan Date of Start Date of Completion April 1, 2024 July 31, 2024 May 1, 2024 June 30, 2024 May 1, 2024 June 30, 2024 July 1, 2024 August 1, 2024 October 1, 2024 October 31, 2024 On or before Nov. 15, 2024 On or before Nov. 15, 2024 On or before May 15, 2025 On or before May 15, 2025 Proposed Staff Please see staff assignments for the AFFH/Equity Plan as shown earlier in this proposal. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 41 - Regional Housing Needs Assessment Based on the RFP and our collective experience with comparable assignments, our firm offers for your consideration the following Work Plan for a Regional Housing Needs Assessment. Our work plan will include all requested elements in the RFP. Project Understanding MEtL's Work Plan will address four primary elements: Market Typology based on a detailed framework for data analysis for comparing variations in county and regional trends, conditions and housing market activity. Our research and analysis will be conducted at the Census tract level then aggregated up to the City, regional and County levels. This framework will result in the identification of 3-5 categories of housing market activity across the City and Region. An outreach plan to ensure that key persons are invited to participate in the planning process. Our experience has taught us that the entities who build affordable housing, work to find affordable housing and keep people housed, and others involved in the housing spectrum are often the best ones to identify what works, what doesn't and why, the barriers to finding and keeping housing, and most importantly, some practical solutions to these challenges. Use of Market Typologies to guide the development of a solutions -based study. For each market type identified, a series of appropriate recommendations will be made. Such an approach fosters implementation and investment determined by actual need rather than by location. Best Practice recommendations. The recommendations will be driven by our quantitative and qualitative analyses with research to identify best practices appropriate for tailoring in Iowa City and the region. Framework for Analysis Our proposed framework for Iowa City is one based on market typology. For the Connecticut Housing Needs Assessment prepared by M&L, the state's census tracts were divided into two of eight market typologies (four for the rental market and four for the sales market) based on scores in two indices - Opportunity and Market Activity. An additional Low Development Activity market type was created to classify Census tracts in which population growth was stagnant and vacancy rates were high. The Opportunity Index identifies areas in which new developments may be more financially feasible in the long-term due to proximity to factors that allow residents to be successful - access to quality schools and employment centers, for example. A Market Activity Index was created to classify Census tracts based on the amount of market activity over the past five years. The variables were chosen based on their representation of single- and multi -family development activity. Population density and vacancy were also used to control for smaller markets and markets with high rates of single-family turnover where homes do not appear to be lived in year-round, respectively. This level of analysis was possible with Costar sales data and Warren Group home sales data provided by Connecticut Housing Finance Authority. If these resources City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 42 are not available from Iowa City, then we will collaborate to identify comparable proxies to create a Markey Activity Index. Example of Rental Market Typologies Connecticut Housing Needs Assessment d Windham Hartford Tolland County Countyri County:�� - County' �Iw low tit New London Count y Middlesex County ount New Haven �--County airflel C ui�ni Rental Market Types High Opportunity/Strong Market 46 High Opportunity/Weak Market LALow OppitrunitylStrong Market ''N' f Low Opportunity/week Market Low Development Activity I C.ijptle� A9 45 0 9 Milcs Towns onsonsoff� City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 43 - Example of Sales Market Typologies Connecticut Housing Needs Assessment Litchfield - 1 A9 4.5 n 9 � Miles Work Plan Our Work Plan is divided into eight tasks with detailed subtasks. Windham County 1 Sales Market Types — High Opportunity/Strong Market C High Opportunity/Weak Market Low Opportunity/Strong Market Low OpponunityMeak Market CLow Development Activity Counties Towns Our first step will be to schedule a virtual meeting with the Cit staff to: Discuss staff expectations for the project Review the proposed framework for data analysis Review a list of data sets to be used in analyzing the demographic and housing characteristics, including variables for the Market Typologies Review a list of documents (current housing programs and funding sources), map shapefiles and data resources needed How data will be shared (e.g., Dropbox, etc.) Discuss achievements since the last Housing Needs Assessment Identify key stakeholders for interviewing Review and finalize the project schedule Establish a schedule for bi-weekly progress calls Address other issues raised by staff City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 44 New London J� County Sales Market Types — High Opportunity/Strong Market C High Opportunity/Weak Market Low Opportunity/Strong Market Low OpponunityMeak Market CLow Development Activity Counties Towns Our first step will be to schedule a virtual meeting with the Cit staff to: Discuss staff expectations for the project Review the proposed framework for data analysis Review a list of data sets to be used in analyzing the demographic and housing characteristics, including variables for the Market Typologies Review a list of documents (current housing programs and funding sources), map shapefiles and data resources needed How data will be shared (e.g., Dropbox, etc.) Discuss achievements since the last Housing Needs Assessment Identify key stakeholders for interviewing Review and finalize the project schedule Establish a schedule for bi-weekly progress calls Address other issues raised by staff City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 44 Task2A. Workshop with City Planning Staff MEtL will conduct a workshop with City planning staff to learn about current programs, policies, local statutes, and resources for affordable housing. We will come prepared with lists of questions and issues based on our preliminary document review to learn more about what has and hasn't worked and why, and any best practices that staff have learned and want to be considered for this study. Task 28. Key Person Interviews Sometimes, the only way to find an answer is to ask the right question to a person rather than a database. In our experience, the most insightful and accurate qualitative data sources are community stakeholders. As practitioners in a variety of fields, their experiences provide real-world perspectives available only through personal interviews. For example, the identification of barriers to the development of affordable housing can be answered by talking to developers who have been working to achieve this goal. Barriers to affordable housing rehabilitation will be well-known to contractors who have encountered cost -prohibitive retrofitting of an older housing stock and units that may not be suitable for accommodating persons with physical disabilities, to name a few. The spectrum of land and construction costs are well-known to area builders and developers. Information obtained from the stakeholder engagement will be incorporated throughout the study. We will conduct up to 10 virtual sessions to interview key stakeholders identified by City staff. Based on our experience, the following are recommended: Association of Realtors Lenders of mortgages and construction loans Regional Continuum of Care Public Housing Authorities Landlords participating in the Housing Choice Voucher Program Regional Economic Development Organization Area builders and developers Nonprofit affordable housing providers Municipal planners and elected officials Other entities recommended by staff Stakeholder workshops will be conducted virtually via GoToMeeting. Specific questions and issues for each workshop will be used and a summary of comments will be generated. Information obtained from the workshops will be combined with the quantitative components of the study. In some cases, follow-up telephone calls will be conducted, as needed. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 45 MftL has advanced capacity for statistical research design and access to a wide variety of analytical software components, which will allow for the meaningful combination and interpretation of data. The presentation of quantitative data will be oriented toward intuitive and attractive graphics and easy -to -read illustrative maps. American Community Survey data will be our primary source for demographic and housing trends. We will supplement this with Public Use Micro Sample data, Comprehensive Housing Affordability Strategy data and other sources such as Bureau of Labor Statistics. Comparisons with U.S. and Iowa will be noted where appropriate. Trends across time will be noted. In addition, our team will work with City planning staff to access the following: Residential building permit data Multiple List Service data from the local Board of Realtors for residential sales Student Housing Units/Beds/Locations Market rental rates Mobile home parks and closures Current wages / salaries for municipal and County employees Data on short-term rentals (AirBnB, VRBC, etc.) Where possible, these data sets will be compared with data from the previous five years to identify significant trends. The use of Public Use Micro Sample (PUMS) data provides a unique opportunity to create custom tabulations to better understand the housing conditions across the City and region. For example, PUMS data allows for the classification of each household and unit into an affordability tier at a granular level. This would make it possible to layer onto the housing affordability analysis characteristics of household members such as race/ethnicity, disability status, veteran status, elderly status and other characteristics that may be of interest. There is a single Public Use Microdata Area (PUMA) that covers the County. This will make using the PUMS data a good option for the framework of market typologies and analyzing the housing mismatch. Through work completed for our community development clients, M8L is very familiar with HUD's Comprehensive Housing Affordability Strategy (CHAS) data, relying on it for our housing studies in addition to five-year Consolidated Plans. Based on Census data, CHAS provides cross -tabulations of demographic and housing variables (income, race, cost burden, family size, etc.) in an easily retrievable format. This dataset is used to assess cost burden (how much of a household's income goes to paying for housing) by income at the Census tract level. In our experience, the CHAS cost burden data sets are the single most concise source for describing existing housing need among current households in a jurisdiction. The Home Mortgage Disclosure Act (HMDA) database provides data on all home mortgages made in lending institutions that are subject to its requirements. Information, when provided, is available on the sex, race, ethnicity, income level, and interest rate paid by the primary applicant. Data is also available on the number of mortgage applications approved and denied. Notably, the reasons for denial (poor City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 46 - credit, insufficient collateral, high debt -to -income ratio, high loan -to -value ratio, etc.) can be analyzed. Task 3A. Demographic Profile MEtL will analyze basic indicators that help to define the current trends and health of the local housing market and economy, and how they compare to the U.S. These include: Population trends and characteristics (most recent 10 years) Household Characteristics Housing Stock Characteristics Age distribution Poverty Race/Ethnicity (for key indicators) Job trends (most recent 10 years) Top employment sectors (Employees and Location Quotient) Employment by occupation Unemployment Wages by industry Number of housing units (most recent 10 years) Housing tenure, including vacant and seasonal units Tenure of age of householder Tenure by household type and age of householder Housing value Year structure was built Gross rent Household income (emphasis on households up to 120% of AMI) Mortgage status and selected monthly owner costs Housing cost burden Fee -in -lieu calculation Some indicators can be examined at any geography, but more detailed analysis is possible in terms of industry sectors and occupational classes at the county and higher levels. Task 38. Sales / Homeownership Market Activity Housing supply will be described in terms of availability, affordability and appropriateness of the inventory. MEtL will identify and describe the housing inventory by number, type, year built, number of bedrooms, subsidy and naturally occurring affordable units. Sales data, if available from the County Association of Realtors' MLS, will be used to supplement Census and ACS data to round out the housing supply profile. Data reports from the MLS can provide recent and accurate market characteristics such as home sales, number of sales by price points/ bedrooms, median prices, quality, available inventory, list price versus sales price, and days on market. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 47 - MLS data provides a reliable indicator of the housing market because it includes point - of -sales transaction data. The quality of the housing stock will be presented using a Housing Conditions model. In the West Virginia Housing Needs Assessment, we created a Housing Conditions model to estimate the housing conditions in each county and, where appropriate, each Census tract. The model was based on four indicators available from ACS data: presence of incomplete plumbing, age of unit, median housing value and poverty level. The output of the model was a numerical score used to classify housing conditions into four categories: lowest, lower, higher and highest quality, as depicted in the following map. Example of Housing Conditions Model West Virginia Housing Needs Assessment 2019 West Virginia Housing Needs Assessment Housing Conditions, 2017 Hancock tl�°oke �OMo' Nanlall We1al N°non,d Pn ` TY� Nanon qwP�Nni� nerkell If Pleaaanta Taylor mpaM1lre Ji din 11-r- 0.ifAle nation,Ta, ar Gtant Wir[ Lewir Hanly can", ollmer alaM1m leekson Mason rontlolpM1 Roane Pendleton P'tne \ 1"y 1Nebder Qwh tae r Lolar QeM1"n a mte" Bnone y RTbrier Housing Conditionswea P" Mudd �1e1g6 tll Wt Quality \NVanInC esummere Monr"e Lower Quallly Hinlal Quality M n II ¢t c ewe Hi96="i QueIIIY A ,a Task 3C. Rental Market Activity Similar to the homeownership market, the rental housing supply will be described in terms of availability, affordability and appropriateness of the inventory. MEtL will identify and describe the housing inventory by number, type, year built, quality, vacancy status, gross rent. This will be supplemented with the identification and description of the assisted (both public and private) rental inventory and the naturally occurring affordable units within the private market. Using the online source provided by the National Housing Preservation Database, M&L will identify the assisted inventory of rental units, including those at -risk for conversion to market -rate units. This refers to the potential loss in the supply of affordable housing units due to a variety of circumstances, including loss of subsidies, expiring contracts City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 48 - and, in the case of LIHTC units, expiration of the 15 -year compliance period. In a tight housing market, this data provides valuable insight on where private owners may be motivated to let their public subsidy expire because of pressure exerted by higher rents attainable on the open market. The impact of short-term rentals (STR) will be analyzed. In many communities, STR investors have further encroached into the sales market, removing units that potential homebuyers could benefit from. In other communities, investors are acquiring natural occurring affordable housing (NOAH) and converting these units into STRs, thereby removing units from the market that are affordable to moderate -income homebuyers. Task 3D. Supply and Demand Analysis by Tenure For recent housing studies, including the Harrisonburg, VA Comprehensive Housing Assessment and Market Study, M&L presented supply and demand by analyzing the "housing mismatch" between households and occupied units by income tiers and tenure. In the example below, there are slightly more 0-50% AMI owner households than there are units affordable to this income tier. However, less than 100 households at 0-50% AMI are residing in the approximate 600 units affordable to this income tier. The remaining 500 units are occupied by households at higher income tiers. A similar situation exists at the opposite end of the spectrum but to a more exaggerated degree. Of the 4,000 households at 101+% AMI, only about 1,800 are living in the units affordable to this income tier. The remaining 2,200 households (shown in purple) are split primarily between the 51-80% units and the 81-100% units. The resulting graphic, created by analyzing PUMS data, succinctly illustrates the enormous "downward market" pressure created by households above 100% AMI on lower income households when there is an inadequate inventory of units for all income tiers. However, the pressure is greatest on the lowest income tier, which has the fewest housing options available to them. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 49 = Example of Homeowner Housing Mismatch Harrisonburg, VA Comprehensive Housing Assessment and ('itrn yids Hcsidcncy Patterns Among (hcncrs 2013-2017 Our team will use the in-depth data analysis completed in Tasks 1-3 to craft strategies and specific initiatives for Iowa City. In other words, we will use key findings from the data to support the issues that the City is trying to address. The following chart summarizes how we will use the data collected through the qualitative and quantitative tasks to develop substantive discussions on each of these issues. Detail current owner -occupied and rental units and projected gaps in the housing inventory county -wide and by region Examine actual housing construction and land costs and determine the impact of cost offsets for mandatory and incentivized inclusionary housing on the sale price Identify subsidy sources to fill the gap between actual new housing costs and the cost offsets Analysis of CHAS and PUMS data sets and the development of Market Typologies Discussion with key stakeholders (builders and developers); M&L's knowledge of and experience with developing affordable housing; research of successful inclusionary housing initiatives (sales housing) M&L's knowledge of and experience with funding sources, including local fees City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 50 .1 l"R ,a -8e4 ,.8a%lT"t 1-% H..'A" H...fh,], H ... ehd, Hmsehold . I."E, "'_1 llmi.abolb n.t(..rt 11--d11."M1" .un,h0—P... by AM 111"1"b'1d ,h0r ,e'1, 1111mi.al 1- h(i "'db'5_ ANI lllmi.l 1- h0­pl by _ AAhli I 1 "11' •l Ib, om Idby 1-% Hlslh l 'o Itl¢ Our team will use the in-depth data analysis completed in Tasks 1-3 to craft strategies and specific initiatives for Iowa City. In other words, we will use key findings from the data to support the issues that the City is trying to address. The following chart summarizes how we will use the data collected through the qualitative and quantitative tasks to develop substantive discussions on each of these issues. Detail current owner -occupied and rental units and projected gaps in the housing inventory county -wide and by region Examine actual housing construction and land costs and determine the impact of cost offsets for mandatory and incentivized inclusionary housing on the sale price Identify subsidy sources to fill the gap between actual new housing costs and the cost offsets Analysis of CHAS and PUMS data sets and the development of Market Typologies Discussion with key stakeholders (builders and developers); M&L's knowledge of and experience with developing affordable housing; research of successful inclusionary housing initiatives (sales housing) M&L's knowledge of and experience with funding sources, including local fees City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 50 Examine the effectiveness of regulatory options M&L's experience with and knowledge of for off-site construction and fee -in -lieu of and the affordable housing development; research of new housing opportunities that could be produced other programs that have used off-site construction and/or fee -in -lieu of and their production success Address the housing needs for specific generations Analysis of CHAS and PUMS data sets; interviews such as Millennials, aging Baby Boomers, and with key stakeholders other groups identified in the key person/group interviews Determine the degree by which other barriers are Analysis of Home Mortgage Disclosure Act (HMDA) a factor for tenants, home buyers, or homeowners such as credit scores, interest rates, transportation, minimum wage or wages earned data; findings from employment/wage data, cost burden data, analysis of affordability of housing stock by tenure; other issues identified through key stakeholder interviews Address effective and acceptable tools for M&L's experience with and knowledge of sustaining housing affordability for a period of 40 developing affordable housing programs to 99 years and the benefits of each identified tool implemented in PA and elsewhere Expound upon the role of employers in the Discussion with key stakeholders; follow-up with housing needs of current and future employees. employers identified as having difficulty recruiting Will companies want to come to the area if they due to housing availability, housing affordability cannot successfully house their employees? and location of suitable Forecast the impact to the citys and economic development efforts if no action is taken to address identified needs Research successful housing approaches for sustaining existing housing as affordable and for creating new opportunities for income -qualified Analysis of CHAS and PUMS data sets; five-year household projections by income, tenure and age of householder; projected PSU student enrollment M&L's experience with and knowledge of developing affordable housing programs implemented in PA and elsewhere; research of households. The examples should be transferrable successful programs that can be tailored to the to the Region and the City. Investigate strategies that would maximize existing resources in order to create new housing opportunities such as conversion of under-utilized student apartments to non -student units and promotion of accessory dwelling units. Investigate strategies to adaptive re -use existing large square foot buildings for affordable housing. Compare "affordable" to "wages earned" for filling these units. City M&L's experience with and knowledge of housing development (new construction and adaptive re- use); research of successful programs that can be tailored to the city. M&L's experience with and knowledge of housing development (new construction and adaptive re- use); analysis of CHAS, PUMS and employment/wage data specific to the City. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 51 The M&L team will craft a series of recommendations to address the key issues analyzed throughout the process. For each recommended strategy, we will include: A brief discussion of why it is appropriate The market types where it would be most appropriately applied Estimated cost and potential funding resources Required steps to implementation (policy development, new program, ordinance amendment, etc.) Prioritization of Recommendations As part of the Louisville, KY Housing Needs Assessment, our team identified investment areas across the city based on characteristics analyzed in each Census tract. The study emphasized housing -related data across three key spheres: health, diversity and equity. The plan set out to diagnose symptoms of disparate impacts and recommend strategies to reshape a housing market that would work for the benefit of all city residents. A similar example is also included from Harrisonburg, VA. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 52 - Example of Recommendations Louisville, KY Housing Needs Assessment w`a s• Example of Recommendations Harrisonburg, VA Comprehensive Housing Assessment and Market Study Task 6. Final Document We will prepare the final document in a polished, graphic -rich format. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 53 Proposed Schedule MEtL will meet the required timelines as outlined in the RFP and as shown on the chart below. Task Project Mobilization Qualitative Analysis QuantiativeAnalysis Solution Based Analysis Solution Based Recommendations Final Document Date of Start April 1, 2024 May 1, 2024 May 1, 2024 November 1, 2024 December 1, 2024 Date of Completion May 1, 2024 June 30, 2024 June 30, 2024 December 31, 2024 January 1, 2025 On or before Jan. 31, 2025 On or before Jan. 31, 2025 Note: Stakeholder consultation will be done as part of the CP/AAP/AFFH. In addition, all demographic analysis is on the same schedule as the CP/AFFH and will be completed so that it can be incorporated into the CP/AFFH. Proposed Staff Please see staff assignments for the HNA as shown earlier in this proposal. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 54 Section 4 Fee Schedule Listed below is a breakdown of fees by each requested service. The proposed fees are Lump sum not to exceed amounts. M&L is willing to negotiate with Iowa City on any or all of the requested services/fees. Please note that schedules for each item are shown in Section 3 above. The lump sum fee for the Five -Year Consolidated Plan and Annual Action Plan is $39,820 as shown on the chart below. 1 Review/Update Citizen Participation Plan 2 Project Mobilization 3 Community Engagement (CP/AAP/AFFH) Sub -total Consolidated Plan & Annual Action Plan 4 Needs Assessment 5 Market Analysis 6 Strategic Plan 7 Complete Consolidated Plan 8 Annual Action Plan 9 Revisions to Annual Action Plan 10 Public Comment Period & Public Hearing 11 Submission to HUD & Deliverables 8 $ 1,960 4 $ 780 $ 2,740 2 $ 490 0 $ - $ 490 40 $ 9,800 25 $ 4,875 $ 14,675 50 $ 12,250 29 $ 5,655 $ 17,905 2 2 2 2 2 1 4 Sub -total 15 $ 490 15 $ 2,925 $ 3,415 $ 490 15 $ 2,925 $ 3,415 $ 490 15 $ 2,925 $ 3,415 $ 490 12 $ 2,340 $ 2,830 $ 490 10 $ 1,950 $ 2,440 $ 245 4 $ 780 $ 1,025 $ 980 2 $ 390 $ 1,370 $ - 3 $ 585 $ 585 $ 3,675 76 $ 14,820 $ 18,495 TOTAL 1 65 $ 15,925 1 105 $ 20,475 $ 36,400 Reimbursable Expenses (air, rental car, hotel, per diem, reproduction) 1 $ 3,420 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 55 The lump sum fee for the AFFH Equity Plan is $34,890 as shown on the chart below. 1 N/A since cost is included in CP/AAP Budget $ - $ - $ - Sub -total 0 $ - 0 $ - $ - AFFH Equity Plan 2 Demogrphic Analysis 3 Review of Community Assests 4 Preparation of Fair Housing Goals 5 Preparation of Fair Housing Strategies o Draft Equity Plan 7 Finalize Equity Plan 2 $ 490 20 S 3,900 $ 4,390 10 $ 2,450 15 S 2,925 $ 5,375 25 $ 6,1255 20 S 3,900 $ 10,025 25 $ 6,125 19 S 3,705 $ 9,830 3 $ 735 20 S 3,900 $ 4,635 1 $ 245 2 $ 390 $ 635 Sub -total 66 $ 16,170 96 $ 18,720 $ 34,890 The lump sum fee for the Regional Housing Needs Assessment is $97,390 as shown on the chart below. City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 56 Appendix A: CDBG/HOME Client List 0 City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 57 CDBG and HOME Client List Entitlement/Participating Jurisdiction State Category d a 6 v 2 OC v v R U_ u Birmingham AL City Colorado Springs CO City Pueblo CO City Norwalk CT City Waterbury CT City Delaware State Housing Authority DE State New Castle County DE County Wilmington DE City Brevard County HOME Consortium FL I County Lake County FL County Lee County FL County Palm Bay FL City Sarasota FL City Sarasota County FL County Brunswick GA City Columbus Consolidated Government GA City Fulton County GA County Henry County GA County Council Bluffs IA City Davenport IA City Iowa City IA City Iowa Economic Development Authority IA Region Sioux City IA City State of Iowa IA State Waterloo - Cedar Falls, IA HOME Consortium IA Region Evanston IL City Joliet IL City McHenry County IL County Moline IL City Naperville IL City Oak Park IL City Rock Island IL City Will County IL County Bloomington IL City Fort Wayne IN City Kansas Department of Commerce KS State Wyandotte County & Kansas City Unified Govt. KS City Annapolis MD City Arundel Community Services, Inc. MD 0rg. Baltimore County MD County Bowie MD City Gaithersburg MD City Prince George's County MD County Grand Rapids MI City Jackson MS City Burlington NC City High Point NC City Piedmont Triad Region NC Region Rocky Mount NC City Mullin and Lonergan Associates CDBG and HOME Client List Entitlement/Participating Jurisdiction State Category d a 6 v 2 OC v v m u u Wake County NC County Atlantic County Improvement Authority NJ County Camden County NJ County Clifton NJ City Gloucester Township NJ City Jersey City NJ City Monmouth County NJ County Morris County NJ County Ocean City NJ City Parsippany - Troy Hills Township NJ City Passaic County NJ County Paterson NJ City Trenton NJ City Wayne Township NJ City Buffalo NY City County of Erie, ACT HOME Consortium NY Region New Rochelle NY City New York (State of) NY State Orange County NY County Rochester NY City Yonkers NY City Canton OH City Cleveland OH City Cleveland Heights OH City Cuyahoga County OH County Dayton/Kettering, OH - HOME Consortium OH Region Greene County OH County Lima OH City Springfield OH City Youngstown OH City Abington Township (Montgomery County) PA City Allegheny County PA County Allegheny County Housing Authority PA County Allentown PA City Beaver County PA County Bensalem Township PA City Berks County PA County Buck County PA County Carlisle Borough (Cumberland County) PA City Chester PA City Chester County PA County Coal Township PA City Cumberland County PA County Dauphin County PA County Dauphin County Housing Authority PA 0rg. East Stroudsburg PA City Easton PA City Erie PACity Erie County PA County Mullin and Lonergan Associates CDBG and HOME Client List Entitlement/Participating Jurisdiction State Category d a 6 v 2 OC v v m u u Hazleton PA City Hazleton Housing Authority PA 0rg. Jeannette PA City Johnstown PA City Lebanon County PA County Lehigh County PA County Mahanoy City PA City McKeesport PA City McKeesport Housing Authority PA 0rg. ❑ Millcreek Township PA City Montgomery County PA County Montgomery County Redevelopment Authority PA 0rg. New Castle PA City New Kensington Redevelopment Authority PA 0rg. Norristown PA City Philadelphia Redevelopment Authority PA 0rg. Pittsburgh PA City Pittston PA City Pittston Redevelopment Authority PA 0rg. Pottsville PA City Pottsville Housing Authority PA 0rg. Reading PA City Redevelopment Authority of County of Washington PA County Reilly Township PA City Rush Township (Carbon County) PA City Schuylkill County PA County Schuylkill Township (Schuylkill County) PA City Shamokin PA City Somerset County Redevelopment Authority PA 0rg. St. Clair Borough (Schuylkill County) PA City Union County PA County Uniontown Redevelopment Authority PA 0rg. Washington County PA County Washingon County Housing Authority PA 0rg. Waynesboro PA City Westmoreland County PA County Williamsport PA City York PA City Knox County TN County Bexar County TX County Corpus Christi TX City Garland TX City Round Rock TX City Temple TX City Mullin and Lonergan Associates CDBG and HOME Client List Mullin and Lonergan Associates v v m u Entitlement/Participating Jurisdiction State Category d 6 a v 2 OC u Travis County TX County Waco TX City Williamson County TX County Arlington VA City Hampton VA City Hampton Roads Region VA Region Harrisonburg VA City Lynchburg VA City Portsmouth VA City Roanoke VA City Staunton VA City Waynesboro VA City Vermont Agency of Commerce & Community Dev. VT State Parkersburg WV City Mullin and Lonergan Associates Appendix B: Required Forms City of Iowa, IA Consolidated Plan, Annual Action Plan, Equity Plan and Regional Housing Needs Assessment Page 58 Appendix C Wage Theft Affidavit Wage Theft Policy It is the policy of the City of Iowa City, as expressed by City Council Resolution No. 15-364 adopted on November 10, 2015, not to enter into certain contracts with, or provide discretionary economic development assistance to, any person or entity (including an owner of more than 25% of the entity) who has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willftd violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, for a period of five (5) years from the date of the last conviction, entry of plea, administrative finding or admission of guilt. (hereinafter "Wage Theft Policy') 1. Application. The Wage Theft Policy applies to the following: a. Contracts in excess of $25,000 for goods, services or public improvements. b. Contracts for discretionary economic development assistance. "Discretionary" economic development assistance shall mean any economic development assistance provided by the City of Iowa City that is not required by law. 2. Exceptions. The Wage Theft Policy does not apply to emergency purchases of goods and services, emergency construction or public improvement work, sole source contracts excepted by the City's purchasing manual, cooperative/piggyback purchasing or contracts with other governmental entities. 3. Affidavit. The contracting entity must complete the attached affidavit showing compliance with the Wage Theft Policy and submit it along with the request for bid or request for proposal required documents. Contract provision: Any contract to which this policy is applicable will include the following contract provision: If the City becomes aware that a person or entity (including an owner of more than 25% of the entity) has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willful violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, within the five (5) year period prior to the award or at any time after the award, such violation shall constitute a default under the contract. 4. Waivers. If a person or entity is ineligible to contract with the City as a result of the Wage Theft Policy it may submit a request in writing indicating that one or more of the following actions have been taken: a. There has been a bona fide change in ownership or control of the ineligible person or entity; b. Disciplinary action has been taken against the individual(s) responsible for the acts giving rise to the violation(s); c. Remedial action has been taken to prevent a recurrence of the acts giving rise to the disqualification or default; or d. Other factors that the person or entity believes are relevant. The City Manager or Designee shall review the documentation submitted, make any inquiries deemed necessary, request additional documentation if warranted and determine whether a reduction in the ineligibility period or waiver is warranted. Should the City Manager or Designee determine that a reduction or waiver of the ineligibility period is warranted the City Manager or Designee shall make such recommendation to the City Council. The City Council will make a final decision as to whether to grant a reduction or waiver. Wage Theft Affidavit 1, William Wasiclewski certify under penalty of perjury and pursuant to the laws of the State of Towa that the following is true and correct: Northeast & Bucks Co. T/A 1. 1 am the President/CEO (position) of Mullin & Lonergan Associates (`contracting entity") and have the authority to execute this affidavit on behalf of said contracting entity and any person or entity with an ownership interest in said contracting entity of more than 25%. Northeast & Bucks Co. T/A 2. Neither Mullin & Loner -an Associates (contracting entity) nor any person or entity with an ownership interest of more than 25% of said contracting entity has been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willfiil violation of the Iowa Wage Payment Collection Law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statue of local ordinance, which governs the payment of wages in the last 5 years. Signature Bid Attributes 1 No Contact Policy A. Code of Silence: 1. No City Representative other than the contact listed under Bid Contact Information should be contacted regarding this Request for Proposal beginning with the issue date of the Request for Proposal and ending with the issuance of the Purchase Order. 2. Any contact initiated by the vendor or by a City representative, other than the Purchasing Division representative listed herein, concerning this Request for Proposal is strictly prohibited. Any such unauthorized contact may cause the disqualification of the vendor from the procurement transaction. ® I have read, understand, and agree to these terms (Required: Check if applicable) 2 Submittal Requirements A. This Request for Proposal is soliciting responses for three separate plans: 1. 5 -year Consolidated Plan 2. Equity Plan 3. Regional Housing Market Analysis Vendors may submit a response for one, two, or three of the plans. If a vendor chooses to submit for more than one plan the vendor's proposal must contain a separate Project Plan and itemized Pricing Schedule section for each plan the vendor is submitting a proposal for. A not -to -exceed price including reimbursable expense price must also be entered in the line items tab for each plan the vendor is submitting a proposal for. ® I have read, understand, and agree to these terms (Required: Check if applicable) 3 Contract Term A. This contract start date will occur on a mutually agreed upon date on or near April 1 of 2024 and will conclude on a negotiated date. Pricing shall be firm from the date stated on the contract purchase order. No price escalation will be allowed during the original term of the contract. IN I have read and understand these terms. (Required.: Check if applicable) Page 3 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 4 1 Definitions A Definitions for this Request for Proposal. The City/City: Indicates the City of Iowa City. May: Indicates something that is not mandatory but permissible, desirable, or preferred. Point of contact: Is the vendor's representative available for all questions pertaining to the vendor's response to this Request for Proposal. RFP: Stands for Request for Proposal. Shall or Must: Indicates a mandatory requirement. Failure to meet a mandatory requirement may result in a rejection of your proposal or cancelation of any subsequent contract. Should: Indicates something that is recommended but not mandatory. Vendor: Proposer submitting a response to this Request for Proposal. ® I have read and understand (Required: Check if applicable) 5 1 Required Attachments and Exceptions [:1 A From the Attachments tab download and review the following required documents. Appendix A - General Requirements and Instructions to Vendors. Appendix B - General Terms and conditions. Appendix C - Wage Theft Affidavit (Sign and upload your completed Wage Theft Affidavit to the Response Attachments tab). Appendix D - Contract Compliance Form (To be completed by awarded vendor only). Appendix E - Sample Consultant Agreement B. Vendors are required to inform themselves of all requirements of this Request for Proposal. Failure to do so is at the vendor's own risk. If a vendor does not clearly demonstrate and provide documentation substantiating that they are compliant with the qualifications and specifications of this Request for Proposal, they may be disqualified. C. Exceptions and Contract Negotiations. Exceptions submitted after the Request for Proposal due date will not be accepted. If your company has no exceptions/deviations select "No exceptions" from the menu below. If you select "No exceptions" you must not submit your company's terms and conditions or any other list of exceptions after the due date. If you select "No exceptions" the vendor agrees that in the event of any disagreement between the City of Iowa City Terms and Conditions and the vendor's Terms and Conditions, the City of Iowa City Terms and Conditions will prevail. If you have exceptions to this Request for Proposal, choose "I have exceptions' from the menu below and attach a list of your exceptions to the response attachments tab. Exceptions will be negotiated by the City of Iowa City and the vendor. Vendors witV exceptions may be scored lower than vendors that have fewer or no exceptions. IN I have no exceptions. ❑ I have exceptions to these terms and conditions (Required: Check only one) Proposal Requirements A Documents required to be submitted with your proposal. Vendor's submitted proposal must be organized in the sequence below. If a vendor is proposing on more than one of the three plans, the vendor must have a separate Project Plan section in their proposal for each plan. Proposals must be uploaded to the response attachments tab. B. Pricing must be completed in the line items section of this proposal. A separate itemized pricing schedule must also be included in your proposal for each plan the vendor is proposing on. C. Section 1 - Executive Summary: Summarize the key points of your proposal. Include the following: 1. The name and contact information for the person(s) who will serve as the Principal Contact. 2. A summary of the firm's understanding of the plan or plans including a brief restatement of the project scope. 3. A signature of the person in your firm who is authorized to negotiate terms, render binding decisions, and Page 4 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 commit the firm's resources. D. Section 2 — Firm Qualifications: tell us about your team. Provide or include: A description of your company's qualifications, credentials, experience and resources as they relate to the requirements of this Request for Proposal. Give a brief overview of your company's experience dealing with projects of similar scope with specific attention given to projects similar to this project for Iowa City. Identify experience your firm may have working with the Consolidated Plan template on IDIS Online and the CPD Maps website (eCon Planning Suite). It is imperative that staff assigned to this project remain consistent throughout the engagement. Provide resumes of all staff assigned to the study. Include training and experience as they relate to the requirements of this Request for Proposal. Note: Staff that will be assigned to this project must be present at any subsequent interviews or presentations. E .Section 3 (Optional) - Project Work Plan Method and Means for the Five -Year Consolidated Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section three tell us how you will conduct your analysis if you are submitting a proposal for the Five - Year Consolidated plan. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. Discuss the final deliverables based on how you will prepare the Plan utilizing HUD's eCon Planning Suite. Provide A detailed time schedule. Include a scheduled time frame for completion of tasks that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates F. Section 3A (Optional) - Project Work Plan Method and Means for the Equity Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 3A tell us how you will conduct your analysis if you are submitting a proposal for the Equity Plan. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. A detailed time schedule. Include a scheduled time frame for completion of each task that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates. G. Section 3B (Optional) - Project Work Plan Method and Means Regional Housing Needs Analysis. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 3A tell us how you will conduct your analysis if you are submitting a proposal for the Regional Housing Needs Analysis. provide: The methods and means by which the firm will perform the services outlined in the Request for Proposal in a project work plan. Describe the rationale for the proposed methodology to be used. A detailed time schedule. Include a scheduled time frame for completion of each task that would begin on a mutually agreed upon date. This should include a time schedule describing the general work tasks and personnel assigned to the project. It must include estimated task/phase completion dates and key meeting/presentation dates H. Section 4 - (Optional) Pricing Schedule Five -Year Consolidated Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4 provide a pricing schedule if you are submitting a proposal for the Five -Year Consolidated Plan. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. Page 5 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 I. Section 4A - (Optional) Pricing Schedule Equity Plan. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4A provide a pricing schedule if you are submitting a proposal for the Equity Plan. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. J. Section 4B - (Optional) Pricing Schedule Regional Housing Needs Analysis. This Request for Proposal is requesting proposals for three separate plans. Vendors may submit proposals for one, two, or three of the plans. In section 4B provide a pricing schedule if you are submitting a proposal for the Regional Housing Needs Analysis. Outline your compensation expectations: Provide a pricing schedule including milestones. The City of Iowa City is not responsible for the consultant's failure to provide information and pricing on required items. In this instance the prices submitted will prevail as the proposal. A not to exceed grand total including reimbursable expenses must also be completed in the line items section of this proposal. K. Section 5 - Reference Projects. Show us your work. Provide: 1. A list of three (3) previous clients of similar size, service area and nature, with whom the vendor has provided similar services. Each listed reference should include the type and size of the client organization, and a brief description and scope of services that were provided. L. Vendor's submitted proposal must be organized in the sequence above. ® I have read and understand (Required: Check if applicable) Page 6 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 7 1 Scoring and Evaluation A. Each proposal stands alone and will be evaluated on its own merits by an evaluation committee in terms of meeting the City's requirements and overall responsiveness to this Request for Proposal. B. Vendors will be treated equally without regard to race, color, creed, religion, national origin, sex, gender identity, sexual orientation, disability, marital status, and age. C. Failure of the vendor to provide any information requested in the RFP may result in disqualification of the proposal and shall be the responsibility of the vendor. D. The proposal that accrues the highest point total based on a 150 -point scale shall be recommended for award subject to the best interests of the City of Iowa City. Each category shall receive a point value within the specified range based on how well the proposal meets or exceeds the City's requirements. E. Point category and assigned points. Phase One - 100 points Phase One — Point Category Assigned Points: 1. Experience, Firm's Resume, Qualifications, and Personnel - 20 Points. 2. Proposed Work Plan, Methodology and Rationale, Data Collection, Data analysis, Community Engagement, Goals and strategies, and Implementation Plan - 55 points. 3. Exceptions - (Note: proposals that have no or fewer exceptions will receive more points) - 5 Points. 4. Fee Schedule - 20 Points. F. Point category and assigned points, Phase two - 50 points. Phase Two - Point Category Assigned Points: Interview and Presentation - 30 Points. Reference Projects, References, and Proven Success with Other Clients - 20 Points. G. Submittal of a proposal infers acceptance of these scoring techniques. ® I have read and understand these terms. (Required: Check if applicable) Page 7 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 8 Scope and Project Summary A. The City of Iowa City is requesting proposals from qualified community development consultant firms or individual consultants to assist in updating the planning documents necessary to receive continued direct Entitlement Community assistance from the U. S. Department of Housing and Urban Development (HUD). The City of Iowa City receives and administers Community Development Block Grant (CDBG) and HOME Investment Partnerships Program (HOME) funds. The City has also received federal CDBG-CV, HOME -ARP, and State and Local Fiscal Recovery Funds (SLFRF) through the American Rescue Plan Act (ARPA). Planning documents will also be used to prioritize local affordable housing programs and funding. 1. Five -Year Consolidated Plan (locally known as City Steps) for city fiscal years 2026-2030 (July 1, 2025 to June 30, 2030). 2. An Equity Plan to update the City's 2019 Analysis of Impediments to Fair Housing (Fair Housing Study) that meets the Affirmatively Furthering Fair Housing (AFFH) requirements that are in effect at the time of preparation. Currently plans are subject to the Affirmatively Further Fair Housing (AFFH) Interim Final Rule. 3. A Regional Housing Needs Analysis for the Iowa City metropolitan area. The Needs Analysis is intended to help inform the City's Comprehensive Plan and will occur concurrent with comprehensive planning efforts related to housing. This shall demonstrate housing demand from 2025 to 2035 and recommend housing product types and amounts to be built in the Iowa City area to satisfy demand from current and future residents from 2025-2030. ® I have read and understand (Required: Check if applicable) 9 Project Background A. The current 5 -Year Consolidated Plan (a.k.a. City Steps) is due for renewal for city fiscal years 2026 through 2030 (July 1, 2025 to June 30, 2030). The 5 -Year Consolidated Plan must be completed by November 15, 2024. The City of Iowa City currently receives approximately $515,000 in annual HOME entitlement funding and approximately $730,000 in CDBG funds. B. The City of Iowa City completed an Analysis of Impediments to Fair Housing (Fair Housing Study) in 2019. The Equity Plan would update this report for the City of Iowa City and Iowa City Housing Authority in accordance with the current HUD regulations regarding Affirmatively Furthering Fair Housing. C. The City of Iowa City has created and implemented Affordable Housing Action Plans in 2016 and 2021 and currently funds a $1 million Affordable Housing Fund annually. However, the City of Iowa City does not currently have a holistic, regional understanding of the area housing market to direct policy decisions. A comprehensive assessment of the region's housing is needed to assess the exact gaps in the housing market, how the policies of different neighboring jurisdictions interact, and how the City can best position itself to meet its share of regional affordable housing needs. ® 1 have read and understand (Optional: Check if applicable) Page 8 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan U A. Vendors are urged to familiarize themselves with 24 CFR Part 91 regulations and the guidelines established by HUD for the Consolidated Plan. Vendor must use the Consolidated Plan template in IDIS Online and the CPD Maps website (eCon Planning Suite). B. The vendor will collaborate with Iowa City's Neighborhood Services staff in the identification, development, scheduling and implementation of activities designed to complete a HUD acceptable Consolidated Plan. Scope of work includes, but is not limited to the following: 1. Citizen Participation and Consultation: Develop a list of housing and community development stakeholders in the City. Provide meaningful involvement of groups listed in 24 CFR 91.100, including citizens, community-based organizations, businesses, elected officials, housing and service providers in the planning process and regular consultation with city staff. Develop a detailed citizen participation plan that complies with the City's Citizen Participation Plan and federal requirements and includes consultation with: • The Continuum of Care that serves the jurisdiction's geographic area. • Public and private agencies that address housing, health, social services, employment, or education needs of low-income individuals and families, of homeless individuals and families, of youth, and/or of other persons with special needs. • Publicly funded institutions and systems of care that may discharge persons into homelessness (such as health-care, mental health, foster care, and other youth facilities, in addition to corrections programs and institutions). • Public and private organizations engaged in narrowing the digital divide, including broadband internet service providers. • Agencies whose primary responsibilities include the management of flood prone areas, public land or water resources, and emergency management agencies. ® I have read and understand. (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 1 A. Executive Summary: The vendor must provide a concise summary that includes the objectives and outcomes identified in the plan, the citizen participation process, public comments, efforts made to broaden public participation, and an evaluation of past performance. ® I have read and understand (Required.: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 2 A. Housing and Homeless Needs Assessment: The vendor must provide a summary of the City's estimated housing needs projected for the ensuing five-year period. At the minimum this section must satisfy the requirements of 24 CFR 91.205, which includes: 1. Estimating the number and type of families in need of housing assistance. 2. Summarizing housing problems of interest to HUD, including lead-based paint hazards. 3. Assessing disproportionate housing needs by race and ethnicity. 4. Describing the nature and extent of homelessness using data from the Homeless Management Information System (HMIS) and the Point -In -Time (PIT) count. 5. Describing the characteristics and needs of those housed but at risk of homelessness. 6. Estimating persons having other special needs in need of supportive housing ® I have read and understand (Required: Check if applicable) Page 9 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan 3 A. Housing Market Analysis: Provide a description of the significant characteristics of the City's housing market. At a minimum, this section must satisfy the requirements of 24 CFR 91.210, which includes: 1. Analyzing the supply, demand, and condition and cost of housing. 2. Estimating housing available for persons with disabilities or other special needs. 3. Estimating vacant or abandoned buildings and their suitability for rehabilitation. 4. Identifying areas with concentrations of racial/ethnic minorities and/or low-income families. 5. Analyzing the broadband needs of low- and moderate -income households. 6. Identifying the vulnerability of LMI households to increased natural hazard risks. 7. Describing publicly assisted housing units, their physical condition, their restoration needs, and the City's strategy to improve their management, operation, and living environment. 8. Identifying facilities, housing, and services that meet the needs of homeless persons. 9. Identifying facilities, services, and programs assisting persons who require supportive housing, including those returning from institutions. 10. Identifying barriers to affordable housing affected by public policies. ® I have read and understand (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 4 A. Housing and Community Development Strategic Plan: The vendor shall provide a description of priorities for allocating funds geographically and among different needs, the City's rationale, obstacles to meeting underserved needs, priorities and objectives to be initiated during the planning period, how funding will address identified needs, and how these will affirmatively further fair housing. At the minimum, this section must satisfy the requirements of 24 CFR 91.215, which includes but is not limited to: 1. Identifying and prioritizing affordable housing and homeless needs projects and activities, including the rationale behind them, and describing their proposed accomplishments. 2. Identifying obstacles to meeting housing goals and objectives, and describing strategies for overcoming such obstacles. 3. Describing how the City will address public housing needs and encourage resident involvement and homeownership. 4. Identifying and prioritizing homeless needs, and describing strategies for reducing and ending homelessness through assessment, direct assistance, and assistance for those at risk. 5. Assessing special needs for the non -homeless, including special housing or supportive service needs for the elderly, persons with physical, mental, or developmental disabilities, persons with alcohol or drug addiction, and persons with HIV/AIDS and their families. 6. Identifying priority non -housing community development needs, including specific long-term and short-term objectives for public facilities and infrastructure improvement, accessibility issues, historic preservation, economic development, planning, public services, and other community development needs. 7. Identifying geographic areas where targeted revitalization efforts are carried out through concentrated and coordinated activities. 8. Identifying strategies to address overcrowding, concentration of racial/ethnic minorities, and avoid involuntary displacement of residents. 9. Describing how the City will address negative public policy effects that act as barriers to affordable housing. 10. Outlining actions to evaluate and reduce lead-based paint hazards. 11. Summarizing goals, programs, and policies for reducing the number of poverty -level families and how affordable housing goals, programs, and policies will support these efforts. 12. Summarizing the institutional structure the City will use to carry out its housing, homeless, and community development plan, and how the City will overcome any identified gaps in this structure. 13. Summarizing activities to enhance coordination among the Continuum of Care, public and assisted housing providers, and health, mental health, and service agencies. 14. Implementation of Housing & Community Development Strategy ® I have read and understand (Required: Check if applicable) Page 10 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan 5 A. Annual Action Plan: Complete the FY26 Annual Action Plan (July 1, 2025 to June 30, 2026) to be submitted to Hud by May 15, 2025 using HUD's Consolidated Plan Templated (year 1) on IDIS. Describe and analyze objectives and outcomes in the plan, past performance, citizen participation and consultation (including efforts to broaden public participation), and any comments or views (including if any were not accepted and why). At the minimum this section must satisfy the requirements of 24 CFR 91.220, which includes for the upcoming plan year: 1. Summarizing expected federal resources. 2. Indicating other expected resources to address needs identified in the plan. 3. Summarizing the objectives that the City expects to achieve. 4. Describing geographic areas to which the City will direct assistance. 5. Describing affordable housing goals for specific subpopulations and for units produced, rehabilitated, acquired, and/or receiving rental assistance. 6. Describing actions to address public housing needs and encourage resident involvement and homeownership. 7. Describing goals and actions to reduce and end homelessness. 8. Describing activities to address identified housing and supportive service needs for persons with special needs. 9. Describing actions to address public policies that serve as barriers to affordable housing. 10. Describing actions to affirmatively further fair housing by addressing identified goals. 11. Describing actions to address obstacles to meeting underserved needs, foster affordable housing, reduce lead-based paint hazards, reduce the number of poverty -level families, develop institutional structure, and enhance coordination. 12. Addressing program -specific requirements for the CDBG and HOME programs. 13. Revising resale and recapture provisions to simplify terms and ensure understanding for households receiving assistance. ® I have read and understand (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 6 A. Citizen Participation Plan: 1. Update the existing Citizen Participation Plan adopted with City Steps 2025 as required 24 CFR 91.105. 2. Assess past citizen participation and consultation activities and create priorities and goals. 3. Research best practices and recommend potential methods or approaches Iowa City can use to support outreach to the public and stakeholders. Review the role of the Housing and Community Development Commission and recommend changes to the by-laws to provide more meaningful engagement with commissioners. 4. Review the current approval and amendment processes and recommend changes for efficiency while still allowing for public input. 5. Provide examples of strategies that have been effective at the local level. 6. Consider the use of technology to enhance these efforts. ® I have read and understand (Required: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 7 A. Identify Potential Funding Sources: Identify potential State and Federal grants and other available funding sources available to the City for housing -related and community development activities. Suggest financial terms for CDBG and HOME projects based on project type or related factors. IN I have read and understand (Required.: Check if applicable) Page 11 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 1 Specifications - 5 -Year Consolidated Plan 8 A. City Responsibilities: The City of Iowa City will expect the consultant to have the capacity to exercise independent judgment and to perform those actions necessary to complete the Plan. While the consultant will be working under the general direction of the City, it should be understood the City has limited professional staff capacity to support the project and will rely on the personnel, experience and expertise of the consultant to ensure all necessary components of the process are completed in a timely manner. The City believes it can supply all reasonable clerical support, printing and copying services, AN equipment and meeting location/scheduling services. The City will provide copies of existing plans, data and documents including: 1. Contact lists of local agencies, neighborhood organizations, special interest groups and others to be invited to participate in the process 2. Copies of zoning, subdivision and related land use regulations 3. Information and recommendations developed by the Housing and Community Development Commission or other Council appointed committees 4. FY2016-2020 Consolidated Plan (a.k.a. CITY STEPS 2016-2020) and annual updates 5. Affordable Housing Market Analysis, created December 2007 and updated January 2015 6. Iowa City Housing Authority plans and reports 7. Continuum of Care Reports 8. Facilities, meeting rooms, photocopying, phone, office space, and related services 9. Existing Citizen Participation Plan 10. Analysis of Impediments of Fair Housing ® I have read and understand these terms. (Required.: Check if applicable) 1 Specifications - 5 -Year Consolidated Plan 9 A. Deliverables: The Consultant shall complete the Consolidated Plan template on IDIS Online. Consultant shall provide a resource summary to include, at a minimum, a list of data sources, copy of data collected, consultations, records, and other supporting documentations used to develop the 5 -Year Consolidated Plan/Citizen Participation Plan. The Consultant shall also provide all digital files used in the creation of the Consolidated Plan, including but not limited to Geographic Information Systems files and data, Microsoft Office documents and data, photographs, and other graphics. Report drafts shall be provided in digital format. No fewer than three (3) bound hard copies of the final report shall be provided. All reports and information related to the Consolidated Plan will be the property of the City. 1911 have read and understand these terms. (Required: Check if applicable) Page 12 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Specifications - Equity Plan U A. Complete an Equity Plan (Fair Housing Study) based on the current AFFH rules to take meaningful action to overcome patterns of segregation and foster inclusive communities free from barriers that restrict access to opportunity based on protected characteristics. B. Meaningful actions include: 1. Addressing significant disparities in housing needs and in access to opportunity. 2. Replacing segregated living patterns with truly integrated and balanced living patterns. 3. Transforming racially or ethnically concentrated areas of poverty into areas of opportunity. 4. Fostering and maintaining compliance with civil rights and fair housing laws. C. As an entitlement community, Iowa City must certify that we will affirmatively further fair housing in connection with our consolidated plans, annual action plans, and PHA plans. D. The consultant will collaborate with Iowa City's Neighborhood Services staff to develop an Equity Plan to address these meaningful actions following HUD's Interim Final Rule (or subsequent Final Rule under 24 CFR Part 5 as applicable). 211 have read and understand (Required: Check if applicable) Page 13 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Specifications - Equity Plan A. The Equity Plan shall include a fair housing analysis, community engagement, fair housing goals, and fair housing strategies described as follows: B. Fair Housing Analysis: Conduct an analysis to identify barriers/impediments to fair housing choice within the City of Iowa City and the Iowa City Housing Authority jurisdiction. The analysis must include: 1. Summary of history, key facts, and current demographics of jurisdiction/region. 2. General description of housing conditions, trends, and locations analysis of patterns of segregation and integration. 3. Analysis of RECAPS. 4. Discussion of regional policies that contribute to housing trends Availability of and access to community assets, affordable housing opportunities, homeownership and economic opportunities. 5. Identification of barriers in access to community assets, affordable housing opportunities, homeownership and economic opportunities. 6. Local and state policies and practices impacting fair housing. 7. The effectiveness of fair housing enforcement. 8. Review of current housing needs within jurisdiction/region identified through the Regional Housing Needs Analysis. 9. Description of fair housing issues identified, including conditions that constitute the fair housing issue and protected class groups that are adversely affected. 10. Discussion of past and current fair housing goals. 11. A discussion on data gaps. C. Community Engagement: Engage with the public throughout the development of the Equity Plan, from the identification of fair housing issues to the establishment of fair housing goals. The vendor must: 1. Hold at least three public meetings at various accessible locations and at different times. 2. Hold at least one meeting in a location where underserved communities disproportionately reside. 3. Reach out to local leaders and community-based organizations, including advocates, community groups, clergy, health-care providers, educations and service providers such as social workers and case managers, to gather community perspectives and provide fair housing planning information. D. Fair Housing Goals & Strategies: Develop a plan and set goals to take appropriate actions to overcome the effects of any impediments identified through the analysis. The plan and goals must Include: 1. Prioritization of fair housing issues with priority given to those that will result in the most effective fair housing goals for achieving material positive change for underserved areas of our community. 2. Recommendations to embed fair housing into administrative and discretionary decisions, where possible. 3. The Creation of an implementation plan to maintain records to reflect the analysis and actions taken toward overcoming impediments, and to evaluate efficacy of fair housing goals and corresponding actions taken. 4. The Incorporation of community engagement in implementation plan to ensure at least two public meetings are held annually in different locations, with one located in an area of the jurisdiction in which underserved communities predominately reside. ® I have read and understand (Required: Check if applicable) Page 14 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Specifications - Equity Plan 2 A. City Responsibilities: The City of Iowa City will expect the consultant to have the capacity to exercise independent judgment and to perform those actions necessary to complete the Plan. While the consultant will be working under the general direction of the City, it should be understood the City has limited professional staff capacity to support the project and will rely on the personnel, experience and expertise of the consultant to ensure all necessary components of the process are completed in a timely manner. The City believes it can supply all reasonable clerical support, printing and copying services, AN equipment and meeting location/scheduling services. B. As needed, the City will provide digital copies of existing plans, data and documents including: Contact lists of local agencies, neighborhood organizations, special interest groups and others to be invited to participate in the process. 1. Copies of zoning, subdivision and related land use regulations. 2. Information and recommendations developed by the Housing and Community Development Commission or other Council appointed committees. 3. FY2021-2025 Consolidated Plan (a.k.a. City Steps) and annual updates. 4. Affordable Housing Market Analysis, updated 2021. 5. Iowa City Housing Authority plans and reports. 6. Continuum of Care Reports. 7. Existing Citizen Participation Plan. 8. 2019 Analysis of Impediments of Fair Housing. 9. Facilities, meeting rooms, photocopying, phone, office space, and related services as needed. ® I have read and understand (Optional: Check if applicable) 2 Specifications - Equity Plan 3 A. Deliverables: The Consultant shall complete a written Equity Plan to be submitted to HUD. Consultant shall provide a resource summary to include, at a minimum, a list of data sources, copy of data collected, consultations, records, and other supporting documentations used to develop the Equity Plan. The Consultant shall also provide all digital files used in the creation of the Equity Plan, including but not limited to Geographic Information Systems files and data, Microsoft Office documents and data, photographs, and other graphics. Report drafts shall be provided in digital format. No fewer than three (3) bound hard copies of the final report shall be provided. All reports and information related to the Equity Plan will be the property of the City. ❑X I have read and understand (Required.: Check if applicable) Page 15 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 4 Specifications - Regional Housing Market Analysis A. The Cit is seeking a qualified vendor to develop a Regional Housing Needs Analysis that shall het Inform the Y� 9 q p 9 9 Y p overall Comprehensive Plan. B. Regional Housing Needs Analysis: The City is requesting a companion analysis to the Comprehensive Plan that would consider the housing needs of the region which should include portions of Johnson County and neighboring cities. Recognizing housing is a critical need for Iowa City and that movement within housing markets is not confined to municipal boundaries, the City would like to understand the local and regional dynamics impacting housing supply, demand, availability, and affordability. This analysis should include, but not be limited to, the following: 1. Population Characteristics (age, race, ethnicity, special needs, including the unhoused and immigrant populations). 2. Household Characteristics (household size and composition, tenure and ownership). 3. Income and Employment Trends (median income, labor market characteristics, unemployment). 4. Housing Stock Characteristics (building typologies, bedroom size, building age). 5. Housing Costs and Overcrowding and Tenure (cost burden, overcrowding rates). 6. Affordability (cost burden, current affordable housing stock, expiration of restrictions, affordable housing gaps). 7. Fee -in -Lieu Calculations (formula to determine a per-unit fee developers may opt to pay in lieu of providing affordable housing dwelling units) 8. Housing Demand (how many housing units are required to meet the local and regional housing needs, quantified by income, unit size, tenure, housing type). 9. Analysis of housing demand in identified geographies within the City of Iowa City. 10. Recommendation for prioritization of available funding for affordable housing considering need and cost- effectiveness. C. The City is also requesting that the Consultant consider the data needs of the HUD Consolidated Plan and Equity Plan. The data collected as part of the regional housing needs analysis should be provided to staff in a manner consistent with the Consolidated Plan requirements to reduce duplication of efforts through the process. The consultant should plan to provide city staff with the data, tables, graphs, and maps in a format consistent with a Consolidated Plan. ® I have read and understand (Required: Check if applicable) 2 Prohibited Interest 5 A. Section 362.5 of the Iowa Code prohibits a City officer or employee from having an interest in a contract with the City, and certifies that no employee or officer of the City, which includes members of the City Council and City boards and commissions, has an interest, either direct or indirect, in this agreement, that does not fall within the exceptions to said statutory provision enumerated in Section 362.5 B. Your firm shall identify any relationship that has existed, or presently exists with the City of Iowa City and its staff that may interfere with fair competition or may be a possible conflict of interest for either party. If no relationship has existed or does not presently exist, the company must make this statement in the space provided below (companies are subject to disqualification on the basis of any potential for conflict of interest as determined by the City of Iowa City). No relationship has existed, or presently exists with the City of Iowa City and its staff with Northeast & Bucks Co. T/A Mullin & Lonergan Associates that may interfere with fair competition or may he a possible conflict of interest for either party_ (Required: Maximum 4000 characters allowed) Page 16 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 6 Liens, Unsatisfied Judgments, Disciplinary Actions A List any and all of the following that are current, pending, or occurring in the last five (5) years in the space provided below. 1. Disciplinary actions 2. Administrative proceedings 3. Malpractice claims 4. Other like proceedings against your company or any of its personnel relating to your firm's services B. If your company has no liens, unsatisfied judgments, or disciplinary actions that have occurred you must state this also in the space provided below. Northeast & Bucks Co. T/A Mullin & Lonergan Associates has no liens, unsatisfied judgements, or disciplinary actions. (Required: Maximum 4000 characters allowed) 2 7 Reference #1 Name Marilyn Harris Project: Housing Needs Assessment (Required: Maximum 1000 characters allowed) 2 8 Reference #1 Address I nuisville/Jefferson Count)/ Metro Govt nffire of Housinn R Community Dev 611 W Jefferson St Louisville, KY 40202 (Required.: Maximum 1000 characters allowed) 2 9 Reference #1 Phone Number F(T 0 2 )-5 7 4 - 3 7 3 71 ext:0 (Required) 3 0 Reference #1 Email maril n.harrisAflouisvilleky.cov (Required: Email address) 3 1 Reference #2 Name Ande Banks Project: Assessment of Fair Housing (Required: Maximum 1000 characters allowed) Page 17 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 3 2 Reference #2 Address 409 S Main St Harrisonburg, VA 22801 (Required: Maximum 1000 characters allowed) 3 3 Reference #2 Phone Number (5 4 0) 4 3 2- 7 7 0 11 ext: 0 (Required) 3 4 Reference #2 Email ande.banks harrisonbur va. ov (Required: Email address) 3 s Reference #3 Name Amy Archer Project: Consolidated Plan (Required.: Maximum 1000 characters allowed) 3 6 Reference #3 Address 1 Medical Dr Morris Plains, NJ 07950 (Required: Maximum 1000 characters allowed) 3 7 Reference #3 Phone Number 012)2$-S-fi$-S2 ext:0 (Required) 3 8 Reference #3 Email aarcher co.morris.n .us (Required: Email address) Bid Lines 1 Total not to exceed price including reimbursable expenses to provide Consulting Services for a Five -Year Consolidated Plan. Quantity: 1 Supplier Notes: UOM: EA Price: $ 39,820 Total: 1$39,820 ❑ No bid ❑ Alternate specification (Attach separate sheet) ❑ Additional notes (Attach separate sheet) Page 18 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 2 Total not to exceed price including reimbursable expenses to provide Consulting Services for an Equity Plan. Quantity: 1 UOM: EA Price: $ 34,890 Total: $ 34,890 Supplier Notes: No bid ❑ Alternate specification (Attach separate sheet) ❑ Additional notes (Attach separate sheet) 3 Total not to exceed price including reimbursable expenses to provide Consulting Services for a Regional Housing Needs Analysis. Quantity: 1 UOM: EA Price: $ 97,390 Total: IS 97,390 Supplier Notes: No bid ❑ Alternate specification (Attach separate sheet) ❑ Additional notes (Attach separate sheet) Page 19 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 Supplier Information Company Name: Northeast & Bucks Co. T/A Mullin & Lonerclan Associates Contact Name: William Waslelewskl Address: 800 Vinial Street, Suite B414 Pittsburgh, PA 15212 Phone: 412.323.1950 Fax: Email: billw@mandl.net Suaalier Notes By submitting your response, you certify that you are authorized to represent and bind your company. William Wasielewski, President/CEO Print Name r �� � I f. � ,1,. Low= •. Ir _ - -- Signature Page 20 of 20 pages Deadline: 2/29/2024 02:30 PM (CT) RFP24-07 Appendix C Wage Theft Affidavit Wage Theft Policy It is the policy of the City of Iowa City, as expressed by City Council Resolution No. 15-364 adopted on November 10, 2015, not to enter into certain contracts with, or provide discretionary economic development assistance to, any person or entity (including an owner of more than 25% of the entity) who has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willftd violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, for a period of five (5) years from the date of the last conviction, entry of plea, administrative finding or admission of guilt. (hereinafter "Wage Theft Policy') 1. Application. The Wage Theft Policy applies to the following: a. Contracts in excess of $25,000 for goods, services or public improvements. b. Contracts for discretionary economic development assistance. "Discretionary" economic development assistance shall mean any economic development assistance provided by the City of Iowa City that is not required by law. 2. Exceptions. The Wage Theft Policy does not apply to emergency purchases of goods and services, emergency construction or public improvement work, sole source contracts excepted by the City's purchasing manual, cooperative/piggyback purchasing or contracts with other governmental entities. 3. Affidavit. The contracting entity must complete the attached affidavit showing compliance with the Wage Theft Policy and submit it along with the request for bid or request for proposal required documents. Contract provision: Any contract to which this policy is applicable will include the following contract provision: If the City becomes aware that a person or entity (including an owner of more than 25% of the entity) has admitted guilt or liability or been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willful violation of the Iowa Wage Payment Collection law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statute or local ordinance, which governs the payment of wages, within the five (5) year period prior to the award or at any time after the award, such violation shall constitute a default under the contract. 4. Waivers. If a person or entity is ineligible to contract with the City as a result of the Wage Theft Policy it may submit a request in writing indicating that one or more of the following actions have been taken: a. There has been a bona fide change in ownership or control of the ineligible person or entity; b. Disciplinary action has been taken against the individual(s) responsible for the acts giving rise to the violation(s); c. Remedial action has been taken to prevent a recurrence of the acts giving rise to the disqualification or default; or d. Other factors that the person or entity believes are relevant. The City Manager or Designee shall review the documentation submitted, make any inquiries deemed necessary, request additional documentation if warranted and determine whether a reduction in the ineligibility period or waiver is warranted. Should the City Manager or Designee determine that a reduction or waiver of the ineligibility period is warranted the City Manager or Designee shall make such recommendation to the City Council. The City Council will make a final decision as to whether to grant a reduction or waiver. Wage Theft Affidavit 1, William Wasiclewski certify under penalty of perjury and pursuant to the laws of the State of Towa that the following is true and correct: Northeast & Bucks Co. T/A 1. 1 am the President/CEO (position) of Mullin & Lonergan Associates (`contracting entity") and have the authority to execute this affidavit on behalf of said contracting entity and any person or entity with an ownership interest in said contracting entity of more than 25%. Northeast & Bucks Co. T/A 2. Neither Mullin & Loner -an Associates (contracting entity) nor any person or entity with an ownership interest of more than 25% of said contracting entity has been adjudicated guilty or liable in any judicial or administrative proceeding of committing a repeated or willfiil violation of the Iowa Wage Payment Collection Law, the Iowa Minimum Wage Act, the Federal Fair Labor Standards Act or any comparable state statue of local ordinance, which governs the payment of wages in the last 5 years. Signature Item Number: 7.a. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution setting a public hearing on May 7, 2024 on project manual and estimate of cost for the construction of the Riverside Drive Pedestrian Bridge at Iowa Avenue Rehabilitation Project, directing City Clerk to publish notice of said hearing, and directing the City Engineer to place said project manual on file for public inspection. Prepared By: Marri Van Dyke — Civil Engineer Reviewed By: Jason Havel - City Engineer Ron Knoche — Public Works Director Geoff Fruin - City Manager Fiscal Impact: $1,250,000 available in the Riverside Dr. Pedestrian Bridge at Iowa Ave. Rehab Account #S3978 Staff Recommendation: Approval Attachments: Riverside Dr Pedestrian Bridge - Resolution Executive Summary: This item begins the bidding process for the Riverside Drive Pedestrian Bridge at Iowa Avenue Rehabilitation Project, which generally includes concrete rehabilitation to the existing bridge and spiral ramp, expansion joint rehabilitation, pavement modifications at the spiral ramp landing, and aesthetic improvements including new handrail, new electrical lighting, and bridge deck coating. Background /Analysis: The University of Iowa, the Iowa Department of Transportation, and the City of Iowa City entered into a Memorandum of Understanding on November 19, 2002 which details their respective responsibilities for maintenance of the three pedestrian bridges crossing over Riverside Drive/Highway 6, including the pedestrian bridge at Iowa Avenue. The MOU states that the University and City are each responsible for 25% of the cost of major repair projects, and the DOT is responsible for 50% of the cost of major repair projects. The Riverside Drive Pedestrian Bridge at Iowa Avenue Rehabilitation Project is considered to be a major repair project. The University, DOT, and City are willing to jointly participate in said project in accordance with the original MOU. The total estimated construction cost for the project is $1,250,000. Therefore, it is estimated that the City will be responsible for $312,500 of construction costs. Origin Design, Co. (formerly IIW, P.C.) of Dubuque, Iowa completed in-depth inspection services of the Riverside Drive pedestrian bridge at Iowa Avenue in 2019. Upon completion of the inspection, Origin provided a formal summary of the current bridge conditions as well as recommended repairs and estimated cost of repairs. Concrete spalling, delamination, and exposed reinforcing were observed during the inspection. The report, dated October 30, 2019, confirmed the need for comprehensive concrete and expansion joint rehabilitation to significantly increase the serviceable life of the structure and restore its aesthetics. Project Timeline: Set Public Hearing — April 16, 2024 Hold Public Hearing — May 7, 2024 Bid Letting — May 28, 2024 Award Date — June 4, 2024 Construction — June to September 2024 Deferred to 5/7/24 Prepared by: Marri VanDyke, Engineering Division, 410 E. Washington St., Iowa City, IA 52240, (319)356-5044 Resolution No. Resolution setting a public hearing on May 7, 2024 on project manual and estimate of cost for the construction of the Riverside Drive Pedestrian Bridge at Iowa Avenue Rehabilitation Project, directing City Clerk to publish notice of said hearing, and directing the City Engineer to place said project manual on file for public inspection. -1.r"_ Whereas, funds for this project are available in the Riverside Dr. Pedestrian Bridge at Iowa Ave. Rehab Account #S3978. Now, therefore, be it resolved by the Council of the City of Iowa City, Iowa, that: 1. A public hearing on the project manual and estimate of cost for the construction of the above- mentioned project is to be held on the 7th day of May, 2024, at 6:00 p.m. in the Emma J. Harvat Hall, City Hall, Iowa City, Iowa, or if said meeting is cancelled, at the next meeting of the City Council thereafter as posted by the City Clerk. 2. The City Clerk is hereby authorized and directed to publish notice of the public hearing for the above-named project in a newspaper published at least once weekly and having a general circulation in the City, not less than four (4) nor more than twenty.(20) days before said hearing. 3. A copy of the project manual and estimate of cost for the construction of the above-named project is hereby ordered placed on file by the City Engineer in the office of the City Clerk for public inspection. Passed and approved this day of , 2024 Mayor Approved by Attest: City Clerk City Atto ey's Office (Liz Craig - 04/11/2024) It was moved by and seconded by the Resolution be adopted, and upon roll call there were: Ayes: . Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague Item Number: 9.c. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution Approving the Preliminary and Final Plat of Bab's First Addition Subdivision, Iowa City, Iowa. (SUB23-0009) Attachments: SUB23-0009 Staff Report -with Attachments.pdf Dvora k-03.30.2024. pdf Resolution.docx STAFF REPORT To: Planning and Zoning Commission Item: SU B23-0009 Bab's First Addition GENERAL INFORMATION: Owner/Applicant: Contact Person: Requested Action: Purpose: Location: Location Map: Size: Existing Land Use and Zoning: Surrounding Land Use and Zoning: Prepared by: Melanie Comer, Planning Intern and Anne Russett, Senior Planner Date: April 3, 2024 Barbel Anderson 1310 Cedar St Iowa City, Iowa 52245 William McBride (319)-331-9304 williammcb@gmail.com Approval of a combined preliminary and final plat Bab's First Addition, a two -lot and two- outlot residential subdivision to accommodate two single-family homes 1310 Cedar Street 3.74 Acres Single -Family Residential Dwelling, RS -5 Low -Density Single -Family North: (Cemetery) Neighborhood Public (P-1) South: (Residential) Low - Density Single - Family Residential (RS -5) Comprehensive Plan: District Plan: Neighborhood Open Space District: Public Meeting Notification: File Date: 45 Day Limitation Period: East: (Residential) Low Density Single - Family Residential (RS -5) and (Hickory Hill Park) Neighborhood Public (P-1) West: (Park and Residential) Neighborhood Public (P-1); Medium -Density Single -Family Residential (RS -8) 2-8 Dwelling Units/Acre Central District Plan C8 Property owners and residents located with 500' of the project site received notification of the Planning and Zoning Commission public meeting. Subdivision signs were also posted on the site. February 22, 2024 April 13, 2024 BACKGROUND INFORMATION: 1310 Cedar Street is located east of the area that was platted as part of Original Town of Iowa City in 1839 and west of Hickory Hill Park. The site has never been subdivided. 1310 Cedar Street, also referred to as the Irish -Kimball House, is a historically significant property for both its architecture and contribution to Iowa City history. The original log cabin on the property was built by Frederick Macy Irish in 1839. George Kimball, the owner in 1869, built the two-story Greek Revival home around the log cabin. The current owner of 1310 Cedar Street, Barbel Anderson, is requesting approval of the combined preliminary and final plat of Bab's First Addition, a 3.74 acre subdivision containing two residential lots and two outlots. Lot 1 will accommodate a new single-family home. Lot 2 will contain the existing historically significant home. Outlot A will be dedicated to the City of Iowa City to accommodate the neighborhood open space requirement and Outlot B will be maintained by the owner as private open space that cannot be developed. ANALYSIS: Compliance with Comprehensive Plan: The Comprehensive Plan encourages the development in established neighborhoods with a strategy to encourage infill/redevelopment projects in areas where infrastructure and services are already in place. This plat has established utility lines and will require only sidewalks for public improvements. Subdivision Design: The proposed subdivision contains two residential lots and two outlots. 3 Outlot A is approximately 0.076 acres and will be dedicated to the City of Iowa City for the extension of Oakland Cemetery. Outlot B is 0.483 acres and will be maintained as private open space. Lot 1 is 1.0 acre and will accommodate one single-family home. Lot 2 includes an existing house and is 2.18 acres. The subdivision is accessed from Cedar St and has access to existing sanitary and water service. No sidewalks exist on Cedar St, so the installation of a 5' sidewalk adjacent to all lots in the subdivision will be required. Environmentally Sensitive Areas: Per 14-51-2C Exemptions, development activity associated with one single-family home is exempt from the sensitive areas ordinance if the development activities do not exceed 20,000 sq ft. As shown on the plat, the total disturbance area for the new single-family home is 19,997 square feet, exempting this development from requirements of the sensitive areas ordinance. Neighborhood Open Space: This application meets the City's neighborhood open space requirements through the dedication of Outlot A to the City of Iowa City to be used as an extension of Oakland Cemetery. The applicant is required to dedicate a minimum of 871 square feet of land or pay a fee in -lieu. The dedication of Outlot A, which is 3,328 square feet, satisfies this requirement. Storm Water Management: Stormwater management is being provided on Lot 1 through the provision of a detention basin. Public Works has reviewed the applicant's storm water management plan. Infrastructure Fees: Prior to issuance of any building permit, a watermain extension fee in the amount of $1,883.35 ($503.57 per acre for 3.74 acres) to the City must be paid. NEXT STEPS: Upon recommendation from the Planning and Zoning Commission, the combined preliminary and final plat will be considered for approval by the City Council. STAFF RECOMMENDATION: Staff recommends approval of SUB23-0009, an application submitted by Barbel Anderson, for a combined preliminary and final plat of Bab's First Addition, a 3.74 acre subdivision containing two residential lots and two outlots located at 1310 Cedar Street. ATTACHMENTS: 1. Location Map 2. Zoning Map 3. Combined Preliminary and Final Plat Approved by: Danielle Sitzman, AICP, Development Services Coordinator Department of Neighborhood and Development Services ATTACHMENT 1 Location Map ATTACHMENT 2 Zoning Map i ATTACHMENT 3 Combined Preliminary & Final Plat wm, w w m� N• O. m w � w dWa LL m �. (-LB£) bZ'LB£ - M../0.9Z °OOS t ¢p gw�and Owjwn wZNZN O .00 a a `p J M Z VJZ W DOOM¢JC G DOOM OO/ J c o� u@t Q O o T c O- a E c o — o �. 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Frm ¢O o G JV/Lu 6D Ir Q 'm" I 506° 10 27 E - 24175 m 1L ,.£b'9ZI-3�db�i5 °OON \ _ m IZ£-95 1Vld 133ELS 155407E_110A pt O` 0 Ilf Y O N @ I _SZlo mwWSl-^l Qz e cl oV II ���(( J a �bb'ObZ-3.db.I5 ,00N ° ) -3L4 ;ON N 1332145 ON21 S'nI I �:r�f `eta - w N• O. m 0 s O .00 a a 5 O M~~ p. O o ¢ c O- a E c o — o �. Ig N m 3 3 m r E o a z .. ,OZ _99'9Z� 1 E ° or .i00 o• 2 w () iNM30V2iR m IZ£-95 1Vld 133ELS 155407E_110A pt O` 0 Ilf Y O N @ I _SZlo mwWSl-^l Qz e cl oV II ���(( J a �bb'ObZ-3.db.I5 ,00N ° ) -3L4 ;ON N 1332145 ON21 S'nI I �:r�f `eta - LEGAL DESCRIPTION - BAB'S FIRST ADDITION A portion of the NWI/4, Section 11, T.79N., R.6W., of the Fifth P.M., Iowa City, Iowa, being the same realty described in the Change of Title (COT), recorded November 12, 2014, in Bk. 5301 -Pg. 605,7ohnson County, Iowa Recorder's Office, described as follows: Beginning at the 5W corner of said COT Parcel, as marked by a found Capin #8295; Thence N 00° 51' 47 E - 387.00 ft., along the west line of said COT Parcel, to the NW corner thereof, as marked by a set 5/8" rebar w/cap #8295; Thence 5 890 32' 55" E - 288.42 ft., along the north line of said COT Parcel, to a found 5/8" rebar w/cap 14675, as recorded in PBk. 41 - Pg., 209; Thence N 890 35' 11" E - 131.23 ft., along the north line of said COT Parcel, to the NE corner thereof, as marked by a found 5/8" rebar w/cap 14675; Thence 5 00° 26' 07' W - 387.24ft., (recorded 387 ft.), along the east line of said COT Parcel, to the 5E corner thereof, as marked by a found 5/8" rebar; Thence N 890 52' 38" W - 281.53 ft., along the south line of said COT Parcel, to a found Capin #8295; Thence N 890 35' 40" W - 141.00 ft., along the south line of said COT Parcel, to the Point of Beginning. Said Parcel contains 3.74 acres. LEGAL DESCRITION - LOT 1 DISTURBANCE AREA A portion of Lot 1, Bab's First Addition described as follows: Beginning at the 5E corner of said Lot 1; Thence N 89a 35' 40" W - 17.35 ft., along the south line of said Lot 1; Thence traversing the following courses: N 7o 03' 13" W - 24.91 ft.; N 18o 31' 45" W - 9.90 ft.; N 590 26'43" W - 8.84 ft.; N 780 14' 56" W - 7.77 ft.; 5 820 40' 40" W - 4.82 ft.; 5 750 00' 46" W - 18.61 ft.; N 650 04' 46" W - 22.15 ft.; N 23o 26' 12" E - 16.96 ft.; N5°07'23"W-16.51 ft.; N 23°19'24"W- 22.76 ft.; N 650 15' 07' W-16.40 ft.;N 77° 51' 40" W - 25.08 ft.; N 720 33' 03" W - 26.42 ft.; N 00 03' 04" W - 24.18 ft.; N 890 31' 34" W - 34.06 ft.; N 00 28' 26" E - 8.00 ft.; 5 890 31' 45" E - 33.98 ft.; N Oo 03' 42" W - 45.37 ft.; N 770 28' 12" E - 66.32 ft.; N 85o 59' 23" E - 22.50 ft.; 5 890 35' 40" E -13.13 ft.; 5 820 30' 48" E - 17.91 ft.; 5 260 47' 22" E - 26.75 ft., to the east line of said Lot 1; Thense 5 6o 10' 27' E - 185.38 ft., along the east line of said Lot 1, to the Point of Beginning. Said Disturbance Area of Lot 1 contains 18,870 sf. LEGAL DESCRITION - LOT 2 DISTURBANCE AREA A strip of land 16 ft. wide, 8 ft. on each side of the following described centerline: Commencing at the 5W corner of Lot 2, Bab's First Addition; Thence 5 89a 52' 38" E - 55.60 ft., along the south line of said Lot 2, to the Point of Beginning of the centerline of the Disturbance Area herein described; Thence N Oo 07' 22" E - 46.06 ft., to the beginning of a non -tangent curve; Thence NW'ly - 23.17 ft., along a 25.87 ft. radius curve, concave 5W'ly, with central angle of 5? 18' 29" and chord of N 26o 55' 50" W - 22.40 ft., to the end of said centerline. Said Disturbance Area contains 1127 sf. LEGAL DESCRIPTION - LOT 1 STORMWATER DETENTION BASIN EASEMENT A portion of the Lot 1 Disturbance Area (D.A.), Lot 1 of Bab's First Addition described as follows: Beginning at the NW corner of said Lot 1 D.A.; Thence N 77a 18' 12" E - 54.69 ft., along the north line of said Lot 1 D.A.; Thence 5 05o 54' 07' E -110.06 ft., to the westerly line of said D.A., at the 5E'ly end of L18; Thence traversing the following courses: N 65o 15' 07' W - 16.40 ft.; N 770 51' 40" W - 25.08 ft.; N 720 33' 03" W - 26.42 ft.; N 00 03' 04" W - 24.18 ft.; N 890 31' 34" W - 34.06 ft.; N 00 28' 26" E - 8.00 ft.; 5 890 31' 45' E - 33.98 ft.; N Oo 03' 42" W -45.37 ft.; to the Point of Beginning. Said Detention Basin Easement contains 5724 sf., or 0.13 acre. Line Chart Line Bearing Length Ll N77° 28' 12"E 66.32 L2 N85° 59' 23"E 22.50 L3 589° 35'40"E 13.13 L4 582° 30'48"E 17.91 L5 526° 47' 22"E 26.75 L6 56° 10' 27E 185.38 L7 N89° 52' 38"W 17.35 L8 N7°03' 13"W 24.91 L9 N18° 31' 45"W 9.90 L10 N59° 26' 43"W 8.84 _11 N78°1415611W 7.77 L12 582°40'40"W 4.82 L13 575°00'46"W 18.61 L14 N65°04'46"W 22.15 L15 N23°2611211E 16.96 L16 N5°07' 23"W 16.51 L17 N23°19'24"W 22.76 L18 N65* 15'07W 16.40 L19 N77° 51'40"W 25.08 L20 N72° 33' 03"W 26.42 L21 NO°03'04"W 24.18 L22 N89°31'34"W 34.06 L23 NO* 28' 26"E 8.00 L24 589° 31' 45"E 33.98 L25 NO°03'42"W 45.37 L26 NO* 07' 22"E 46.06 Curve Data Curve Radius Length CHB CH DELTA Cl 25.87' 23.17' N26° 55' 50"W 22.40' 51°18'29" FINAL PLAT NOTES: 1. The notes and depictions on this Plat are not intended to create any vested interest in any stated use restriction or covenant or create any third -party beneficiaries to any noted use restriction or covenant. 2. A 15 ft wide Utility Easement is depicted on this Plat and dedicated along the frontage of Cedar Street to each utility company signatory on this Plat. This Easement is not assignable to another utility entity without signatory approval and/or conveyance consideration from the current record title holder. 3. At the direction of the City Engineer, the Disturbance Areas depicted on this Plat may be surveyed and staked to monitor compliance. 4. Outlot A is dedicated to the City of Iowa City to satisfy the Neighborhood Open Space requirement. 5. Outlot B is intended for private open space. UTILITY APPROVALS: UTILITY EASEMENTS 5HO WN HEREON ARE ADEQUATE FOR THE INSTALLATION AND MAINTAINANCE OF THE FACILITIES REQUIRED BY THE FOLLOWING AGENCIES. MIDAMERICAN ENERGY CO. - GAS DIVISION DATE MIDAMERICAN ENERGY CO. - ELECTRIC DIVISION DATE MEDIACOM IOWA CITY DATE LUMEN DATE IMON COMMUNICATIONS, LLC DATE Shoemal<ei Ha PRELIM &FINAL PLAT DWN.i CNP CHK TSA SURVEY DATEFSP 07-2423 PLAT DATE 0226-2024 160 Holiday Roe. BAB'S FIRST ADDITION SCALE REV DATE 03 182024 Coalville, loins 52241 FIELD BK .i 1133/69 Phone oe-;;a° Whkea„dco,., IOWA CITY, IOWA SHPE 70B#23014 55HEET20F2 Anne Russett From: Emily Dvorak<dvoralcemily@iowacityschooIsorg> Sent: Saturday, March 30, 2024 3:45 PM To: Anne Russett Subject: 1310 Cedar Street Subdivision (In support of) A ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Hello - My name is Emily Dvorak and I live at 431 Pleasant Street. I am writing to express support for the subdivision of 1310 Cedar Street. If you would need anything from me to help support this happening, please let me know, Have a great weekend - Emily Dvorak Principal Weber Elementary 3850 Rohret Rd. Iowa City, Iowa 52246 319-688-1170 Item Number: 10.a. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution approving project manual and estimate of cost for the construction of the Kirkwood Avenue CRANDIC Railroad Crossing Project, establishing amount of bid security to accompany each bid, directing City Clerk to post notice to bidders, and fixing time and place for receipt of bids. Prepared By: Ethan Yoder — Civil Engineer Reviewed By: Jason Havel — City Engineer Ron Knoche — Public Works Director Geoff Fruin — City Manager Fiscal Impact: $165,000.00 available in the Pavement Rehabilitation account#S3824 Staff Recommendation: Approval Attachments: Location Map Kirkwood Crandic Railroad Crossing - Resolution Executive Summary: This project generally includes removal and replacement of pavement, ADA compliant sidewalk and curb ramps, and storm intake top replacement. Background /Analysis: CRANDIC Railroad is repairing the railroad crossing on Kirkwood Ave and is working with the City to construct the approaches to the crossing. Project Timeline: Bid Letting Date: April 23, 2024 Contract Award Council Meeting Date: May 7, 2024 Construction Dates: Summer 2024 to Fall 2024 Z tEl EW #. �,� 10, c,, - Prepared by: Ethan Yoder, Engineering Division, 410 E. Washington St., Iowa City, IA 52240, (319) 356-5145 Resolution No. 24-102 Resolution approving project manual and estimate of cost for the construction of the Kirkwood Avenue CRANDIC Railroad Crossing Project, establishing amount of bid. security to accompany each bid, directing City Clerk to post notice to bidders, and fixing time and place for receipt of bids. Whereas, notice of public hearing on the project manual and estimate of cost for the above- named project was published as required by law, and the hearing thereon held; and Whereas, the City Engineer or designee intends to post notice of the project on "the website owned and maintained by the City of Iowa City; and Whereas, funds for this project are available in the Pavement Rehabilitation account #S3824. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa that: 1. The project manual and estimate of cost for the above-named project are hereby approved. 2. The amount of bid security to accompany each bid for the construction of the above- named project shall be in the amount of 10% (ten percent) of bid payable to City of Iowa City, Iowa. 3. The City Clerk is hereby authorized and directed to post notice as required in Section 26.3, not less than 13 days and not more than 45 days before the date of the bid letting, which may be satisfied by timely posting notice on the Construction Update Network, operated by the Master Builder of Iowa, and the Iowa League of Cities website. 4. Sealed bids for the above-named project are to be received by the City of Iowa City, Iowa, at the Office of the City Clerk, at the City Hall, before 3:00 p.m. on the 9th day of May, 2024. At that time, the bids will be opened by the City. Engineer or his designee, and thereupon referred to the City Council of the City of Iowa City, Iowa, for action upon said bids at its next regular meeting, to be held at the Emma J. Harvat Hall, City Hall, Iowa City, Iowa, at 6:00 p.m. on the 21st day of May, 2024, or at a special meeting called for that purpose. Passed and approved this 16th day of April 2024 I m6y6r Approved by/ Attest: G ' City Clerk City Attorn 's Office (Liz Craig - 04/11/2024) Resolution No. 24_1o2 Page 2 It was moved by Moe adopted, and upon roll call there were: Ayes: x and seconded by Nays: Harmsen the Resolution be Absent: Alter Bergus Dunn Harmsen Moe Salih Teague Item Number: 10.b. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution approving project manual and estimate of cost for the construction of the Mercer Scanlon Roof and Skylight Improvements Project, establishing amount of bid security to accompany each bid, directing City Clerk to post notice to bidders, and fixing time and place for receipt of bids. Prepared By: Ben Clark — Senior Engineer Reviewed By: Jason Havel — City Engineer Josh Worrell — Facilities Manager Juli Seydell Johnson — Parks & Recreation Director Geoff Fruin — City Manager Fiscal Impact: $462,000 available in the Recreation Center Improvements account #R4351 Staff Recommendation: Approval Attachments: Mercer Scanlon Roof & Skylight Improvements - Resolution Executive Summary: This agenda item begins the bidding process for the construction of the Mercer Scanlon Roof and Skylight Improvements Project. Background /Analysis: The roofing systems at Mercer Park Aquatic Center and Scanlon Gymnasium have reached the end of their useful lifespan and need replacement. This project includes replacing the prismatic skylights, roof membrane and flashing over the gymnasium and coating the Kalwall skylight system above the main entrance to the building. A future project will replace the roof membrane and flashing over the natatorium. 10,E Prepared by: Ben Clark, Engineering Division, 410 E. Washington St., Iowa City, IA 52240, (319)356-5436 Resolution No. 24-103 Resolution approving project manual and estimate of cost for the construction of the Mercer Scanlon Roof and Skylight Improvements Project, establishing amount of bid security to accompany each bid, directing City Clerk to post notice to bidders, and fixing time and place for receipt of bids. Whereas, notice- of public hearing on the project manual and estimate of. cost for the above- named project was published as required by law, and the hearing thereon held; and Whereas, the City Engineer or designee intends to post notice of the project on the website owned and maintained by the City of Iowa City; and Whereas, funds for this project are available in the Recreation Center Improvements account #R4351. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa that: 1. The project manual and estimate of cost for the above-named project are hereby approved. 2. The amount of bid security to accompany each bid for the construction of the above- named project shall be in the amount of 10% (ten percent) of bid payable to City of Iowa City, Iowa. 3. The City Clerk is hereby authorized and directed to post notice as required in Section 26.3, not less than 13 days and not more than 45 days before the date of the bid letting, which may be satisfied by timely posting notice on the Construction Update Network, operated by the Master Builder of Iowa, and the Iowa League of Cities website. 4. Sealed bids for the above-named project are to be received by the City of Iowa City, Iowa, at the Office of the City Clerk, at the City Hall, before 3:00 p.m. on the 1St day of May, 2024. At that time, the bids will be opened by the City Engineer or his designee, and thereupon referred to the City Cquncil of the City of Iowa City, Iowa, for action upon said bids at its next regular meeting, to be held at the Emma J. Harvat Hall, City Hall, Iowa City, Iowa, at 6:00 p.m. on the 7th day of May 2024, or at a special meeting called for that purpose. Passed and approved this 16th day of April , 20 24 Ma iolr Approved by / Attest: o G ' City Jerk City Attorney' Office (Sara Hektoen - 04/11/2024) Resolution No. 24-103 Page 2 It was moved by Moe adopted, and upon roll call there were: Ayes: - x x x and seconded by Alter Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague the Resolution be Item Number: 10.d. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution amending the current budget for fiscal year ending June 2024. Prepared By: Nicole Davies, Finance Director Reviewed By: Geoff Fruin, City Manager Fiscal Impact: See attached resolution Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Notice of Public Hearing Amended FY24 Budget FY24 Amended Budget Resolution.pdf Executive Summary: On April 16, 2024, two public hearings are being held: one hearing will be held to take public input on the proposed amendment of the fiscal year 2024 (FY2024) budget, and one hearing will be held to take public input on the proposed fiscal year 2025 (FY2025) budget. Following the first public hearing, a resolution to amend the FY2024 Operating Budget will be considered. Following the second public hearing, a resolution to adopt the FY2025 Operating Budget and a resolution to approve the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document will be considered. The FY2025 adopted budget must be certified by the Johnson County Auditor's office by April 30, 2024. Background /Analysis: The FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document was made available to City Council and the general public in January 2024. This document included the proposed FY2024 amended budget and the proposed FY2025 budget. This document detailed the proposed and amended budgets as submitted by the City Manager following an extensive budget process. The City Council held public work sessions in January and February 2024 to review and discuss the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document. During these budget work sessions, the City Manager and the department directors presented their budget proposals and responded to questions from the City Council. The City Council also clarified and refined their budget priorities during these work sessions. The Resolutions to Amend the FY2024 Budget and to Adopt the FY2025 Budget and related schedules represent the programs and details that were included in the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document. The Resolutions and related schedules also include any subsequent changes as directed by the City Council as well as corrections and adjustments identified by City staff. The related schedules for the FY2024 Amended Budget and the FY2025 Budget will be made available to the public on April 2, 2024 and the Notices of Public Hearing for both will be published on April 4, 2024, in accordance with state law to allow for public input. Fiscal Year 2024 Revised Budget The FY2024 budget amendment presented for City Council approval is the second budget amendment of FY2024. This amendment incorporates all of the programs, changes, and updates presented in the financial plan and capital improvement plan document that was distributed to the City Council and the general public on January 12, 2024. The State of Iowa allows cities to amend the annual operating budget for supplemental appropriation authority. These changes may include new or revised revenue and expenditure projections, transfers between funds, and capital improvement plan changes. Increased expenditures must utilize available fund balance or additional revenue sources, as the State does not allow amendments to increase property taxes. According to the City's financial policies, amendments to operating budgets will be made only in the following situations: • emergency situations • transfer from contingency • expenditures with offsetting revenues or fund balance • carry-over of prior year budget authority for expenses that had not been paid as of the end of the fiscal year. Since the distribution of the plan document, one change was made by City staff to the amended FY2024 budget. The change to the amended FY2024 budget is summarized as follows: Utilizing Revenue Replacement under the American Rescue Plan Act to allow for more time and less restrictions for funding for certain projects: ($10,000,000)Reduce Other Shared Revenues Expenses $10,000,000 Increase Other Shared Revenues Transfer Outs $10,000,000 Increase General Fund Transfer Ins $10,000,000 Increase General Fund Expenses The proposed budget amendment to the City's FY2024 budget does not increase property taxes or change the property tax levy rate and expenditures are funded from increased revenues or available fund balance. NOTICE OF PUBLIC HEARING -AMENDMENT OF CURRENT BUDGET City of IOWA CITY Fiscal Year July 1, 2023 -June 30, 2024 The City of IOWA CITY will conduct a public hearing for the purpose of amending the current budget for fiscal year ending June 30, 2024 Meeting Date/Time: 4/16/2024 06:00 PM I Contact: Kellie Grace Phone: (319) 356-5041 Meeting Location: 410 E. Washington St., Emma Harvat Hall There will be no increase in taxes. Any residents or taxpayers will be heard for or against the proposed amendment at the time and place specified above. A detailed statement of: additional receipts, cash balances on hand at the close of the preceding fiscal year, and proposed disbursements, both past and anticipated, will be available at the hearing. Budget amendments are subject to protest. If protest petition requirements are met, the State Appeal Board will hold a local hearing. For more information, consult htt s://dom.iowa.gov/local-gov-appeals. REVENUES & OTHER FINANCING SOURCES Total Budget as Certified or Last Amended Current Amendment Total Budget After Current Amendment Taxes Levied on Property 1 66,312,743 0 66,312,743 Less: Uncollected Delinquent Taxes - Levy Year 2 0 0 0 Net Current Property Tax 3 66,312,743 0 66,312,743 Delinquent Property Tax Revenue 4 0 0 0 TIF Revenues 5 4,083,031 -23,184 4,059,847 Other City Taxes 61 3,596,467 -6 3,596,461 Licenses & Permits 7 2,033,921 0 2,033,921 Use of Money & Property 8 3,172,348 0 3,172,348 Intergovernmental 9 46,478,959 7,576,242 54,055,201 Charges for Service 10 51,347,782 -862,500 50,485,282 Special Assessments 11 1,381 0 1,381 Miscellaneous 12 10,728,836 -5,717,550 5,011,286 Other Financing Sources 13 43,427,400 445,000 43,872,400 Transfers In 141 56,872,195 19,647,893 76,520,088 Total Revenues & Other Sources 15 288,055,063 21,065,895 309,120,958 EXPENDITURES & OTHER FINANCING USES Public Safety 16 31,268,923 232,757 31,501,680 Public Works 17 12,945,536 143,631 13,089,167 Health and Social Services 18 696,500 0 696,500 Culture and Recreation 19 17,559,545 229,647 17,789,192 Community and Economic Development 20 32,700,687 -1,617,999 31,082,688 General Government 21 14,052,690 259,848 14,312,538 Debt Service 22 13,210,690 35,000 13,245,690 Capital Projects 23 67,411,738 -15,489,999 51,921,739 Total Government Activities Expenditures 24 189,846,309 -16,207,115 173,639,194 Business Type/Enterprise 25 115,540,638 22,115,932 137,656,570 Total Gov Activities & Business Expenditures 26 305,386,947 5,908,817 311,295,764 Transfers Out 27 56,872,195 19,647,893 76,520,088 Total Expenditures/Transfers Out 28 362,259,142 25,556,710 387,815,852 Excess Revenues & Other Sources Over Under Expenditures/Transfers Out 29 -74,204,079 -0,490,815 -78,694,894 Beginning Fund Balance July 1, 2023 30 157,640,187 79,738,979 237,379,166 Ending Fund Balance June 30, 2024 31 83,436,108 75,248,164 158,684,272 Explanation of Changes: Amendments include the review and modification of the 2024 CIP plan, an adjustment to interest expense within debt service, and various other smaller amendments. Additional detail is on file and available from the Iowa City Finance Department. 03/25/2024 12:39 PM Paae 1 of 1 � r ,11 .;;gIIIp ''► ON City Council Supplemental Meeting Packet �— CITY OF IOWA CITY April 16, 2024 Information submitted between distribution of the Supplemental Meeting Packet 1 on Monday and 3:00 pm on Tuesday. Late Handout(s) 9.a. Rezoning - 302-316 E Bloomington Street - Local Historic Landmark: See correspondence from the following: Greg Kovaciny, Joseph Ziegler, Ben Lewis 9.b. Rezoning - 1810, 1816, and 1828 Lower Muscatine Road - See correspondence from the following: Anne Marie Kraus, Ben Lewis 1CIA FY24 Budget Amendment Public Hearing & (10.e) FY25 Budget Public Hearing: See correspondence from the following: Ninoska Campos, Monty Montero-Elliott 10.h Traffic Calming on Lindemann Drive: See correspondence from : Mary Gaffey April 16, 2024 City of Iowa City Item Number: 10.d. CITY OF OF IOWA CITY �fil COUNCIL ACTION REPORT April 16, 2024 FY24 Budget Amendment Public Hearing & (10.e) FY25 Budget Public Hearing: See correspondence from the following: Ninoska Campos, Monty Montero-Elliott Attachments: correspondence Kellie Grace From: Escucha Mi Voz Iowa <info@escuchamivozia.org> Sent: Tuesday, April 16, 2024 11:17 AM Late Handouts Distributed To: Geoff Fruin; Nicole Davies; Bruce Teague Cc: *City Council J Subject: Budget Input, FY24 & FY25 Attachments: We sent you safe versions of your files; RiseUpCenterl pa p SampleResolutionAppropriation.pdf JVate) R SK ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Mimecast Attachment Protection has deemed this file to be safe, but always exercise caution when opening files. April 16, 2024 ESCUCHA MI VOZ IOWA Fighting for Worker Justice and Immigration Reform Iowa City City Council Honorable Mayor Mr. Bruce Teague Finance Director Nicole Davies City Manager Geoff Fruin My name is Ninoska Campos, I am from Honduras and a member of Escucha Mi Voz Iowa. I have lived here in Iowa City for six years and own a mobile home in Modern Manor. Many immigrant workers are impacted by the theme of affordable housing because we don't have legal status. It's hard to rent apartments or buy trailers because we don't have documents. This issue is the most important to me, to pay rent for me and my family. It is hard to pay for legal services for an attorney. With health, to have insurance. At work, we suffer discrimination and labor violations. You know that the Governor of Iowa signed an anti -immigrant law that will affect all of us, immigrant workers, children, and families. So my question is, what will you do to defend and protect us from SF2340? I want to ask you to: 1) write to the U.S. Department of Justice and tell them to sue the state of Iowa over this unconstitutional law. 2) write to the U.S. Department of Homeland Security and tell them to approve temporary protected status and work visas for all immigrants. 3) work together with Escucha Mi Voz and essential immigrant workers to fund new permanent supportive housing and affordable housing projects for immigrant workers, families, and children. I have enclosed a specific proposal and sample resolution. Thank you, Ninoska Campos 18 Summary St Iowa City, IA 52240 info@escuchamivozia.ore The Rise Up Center: A permanent supportive housing, community health, and day labor center Underneath the shine and gleam of high-end development, a commuter corridor stretches from segregated neighborhoods on the outskirts of city limits to the essential jobs in the heart of downtown. This corridor bears the scars of decades of economic disinvestment, racially restrictive zoning, the Covid-14 pandemic, and the rising threat of authoritarianism. At the same time, the bussing of thousands of migrant workers from Texas to Denver and Chicago has made the local affordable housing crisis even worse. A new Iowa law to preempt the U.S. constitution and put state police and courts in charge of immigration enforcement has turned these multiple and overlapping crises into a full blown emergency. This Red Alert Moment calls for a bold new vision for permanent supportive housing, community health, and worker -led economic revitalization, one that centers racial equity, inclusive development, and sustainability above profits and politics. Our members are developing a vision for a transformational project: the Rise Up Center. This geographically accessible, culturally competent, and self-sustaining hub will empower essential workers and families with housing, jobs, health services, a collective voice, and economic clout. The Rise Up Center: More than just a building, a cooperative community for and by low-wage essential workers Co -train Co -ted The Rise Up Center will house permanent The Rise Up Center will include a supportive housing services and workforce first -of -its -kind Day Labor Center for development programs for day laborers, immigrant workers, a workforce that has been domestic workers, hotel workers, temporary subject to wage theft and workplace abuse and seasonal workers, and international because of their immigration status. The day students. Our programs will address the long labor center will act as a contractor in the standing barriers faced by immigrant workers seasonal and temporary labor markets, by providing popular education, leadership cooperatively led by the workers themselves. development, and supportive housing, health, The Center will also provide community and jab services. space for multidisciplinary arts and culture. Co -work Co -live Partner agencies and organizations will house We envision on-site child care to support their offices in the Rise Up Center, which will workers' ability to fully participate in the Rise have a large meeting hall, offices, classrooms, Up Center's programs. We also envision and flexible space for legal aid, community on-site affordable, cooperative, multi -family health clinics, organizing, education, rallies, housing to provide high-quality, accessible and business meetings. homes close to jobs. Resolutions for FY24 and FY25 budect anpropriations relating to i Inv it selectionIaR nning andrn edesiin fora new facility for Escucha Mi Voz Iowa, BE IT ENACTED BY THE CITY OF IOWA CITY: APPROPRIATION; ESCUCRA MI VOZ IOWA $500,000 in fiscal year 2024 is appropriated for a grant and $3,000,000 in fiscal year 2025 is appropriated for a forgivable loan to Escucha Mi Voz Iowa, a 501(c)(3) nonprofit organization, to design, redesign, renovate, construct, furnish, and equip the Rise Up Center, a building to be located in Iowa City, IA, that will house a day labor center, permanent supportive housing, administrative offices, and a public gathering space. The location for the center is to be determined. Escucha Mi Voz Iowa is conducting site searches along the Lower Muscatine corridor, as well as 21 S Linn St and 302 E Bloomington St. Eligible Uses of Loan Funds and Examples of Required Deliverables: Project management services, Site search, Legal Services, Zoning and land use analysis, Development summary, confirmation from City Planning staff of permitted use, Survey, Title work, Title document, Site Assessment, Financial Proposals, Feasibility studies, Source and Uses, Proforma, Letter of commitment from lenders, Architectural and engineering services, Existing conditions assessment, Pre -design programming, Conceptional design, Schematic designs, and Structural engineering report, Construction cost estimates, Estimate documentation Once complete, the products from the feasibility analysis and pre -development due diligence would advance the project to construction drawings, through the city development review, and building permit approval processes. City of Iowa City is undertaking this grant and forgivable loan as an economic development activity for property acquisition and predesign of a facility that will provide a day labor center, permanent supportive housing, and administrative and public gathering spaces. Although owned by a nonprofit, the development of the Rise Up Center will increase the tax value of the City neighborhoods and add jobs to the City. In the 2024 and 2025 adopted budgets, City Council may allocate one-time funding of $500,000 in FY24 and $3,000,000 in FY25 for the development of the Rise Up Center, to be structured with a no -interest, no -payment, 40 -year forgivable term. The terms and conditions of this forgivable loan will include a 0% interest rate; a five-year maturity date, monthly payments not to exceed $5,000, and no required security. The loan would be forgiven if the borrower is not in default and has satisfied the loan terms by the five-year maturity date. Kellie Grace From: Sent: To: M. <monteroelliott@gmail.com> Tuesday, April 16, 2024 12:32 PM *City Council Late Handouts Distributed Subject: Regarding transgender sanctuary and the city budget (Date) I RISK ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Good afternoon, I am once again asking the City Council to do something material to protect the transgender residents of Iowa City who call this place their home. Good first steps would be non -enforcement of anti -trans policies and housing stipends for trans people fleeing from elsewhere in Iowa. This is the bare minimum action that can be taken to protect us. I wish also to speak on the city's proposed budget. Why is the city increasing funds for the police department - a department that for the past few years has gone, on average, $750k over its proposed budget? Couldn't that money go to affordable housing (which used up every penny of its ONE million dollars this year, and is only receiving a paltry $30,000 more in funds)? What about stabilization and mental health services like the GuideLink center? Food pantries? Fixing potholes? Could any of that money go to services that directly improve the quality of life of people in Iowa City and the county as a whole? Would any of that yield better results than painstakingly and expensively retrofitting police officers to take on every job known to man? Last week certain Councilors stressed the possible financial hit they would endure from the state if they were to pass a motion or take any meaningful action to protect some of its most vulnerable citizens. Given that that appeared to be such a sticking point, I urge the council to use the money they DO have more wisely for the benefit of the city's people. Thank you for your attention, Monty Montero-Elliott Taylor or i 0 , of CITY BUDGET AMENDMENT AND CERTIFICATION RESOLUTION - FY 2024 - AMENDMENT # 2 To the Auditor of JOHNSON County, Iowa: The City Council of IOWA CITY In said County/Counties met on 04/16/2024 06:00 PM, at the place and hour set In the notice, a copy of which accompanies this certificate and Is certified as to publication. Upon taking up the proposed amendment, it was considered and taxpayers were heard for and against the amendment, The Council, after hearing all taxpayers wishing to be heard and considering the statements made by them, gave final consideration to the proposed amendmenl(s) to the budget and modifications proposed at the hearing, if any; Thereupon, the following resolution was Introduced. RESOLUTION No. 24-104 A RESOLUTION AMENDING THE CURRENT BUDGET FOR FISCAL YEAR ENDING JUNE 2024 (AS LAST CERTIFIED OR AMENDED ON 09/19/2023) Be it Resolved by the Council of City of IOWA CITY Section 1. Following notice published/posted 04/04/2024 and the public hearing held 04/16/2024 06:00 PM the current budget as previously amended) is amended as set out herein and in the detail by fund type and activity that supports this resolution which was considered at ie hearing: REVENUES & OTHER FINANCING SOURCES Total Budget as Certified or Last Amended Current Amendment Total Budget After Current Amendment Taxes Levied on Proporty 1 66,312,743 0 66,312,743 Less: Uncollected Delinquent Taxes - Levy Year. 2 0 , 0 0 Net Current Property Tax .. 3 86,312,743 0 66,312,743 Delin uent Propert Tax Revenue 41 0 0 0 TIF Revenues 5 4083,031 -23,184 4,059,847. Other City Taxes 6 3,596,467 -6 3,596,461 Licenses & Permits 7 2,033,921 0 2,033,921 Use of Money & Property B 3,172,348 0 3,172,348 Intergovernmental 9 46,478,959 7,576,242 54,055,201 Charges for Service 10 51,347,782 -862,500 50,485,282 Special Assessments 11 .1,381 0 1,381 Miscellaneous 12 10,728,836 -5,717,550 5,011,286 Other Financing Sources 13 43,427,400 445,000 43,872,400 Transfers In 14 56,872,195 19,647,893 76,520,088 Total Revenues & Other Sources 151 288,055,063 21,065,895 309,120,958 EXPENDITURES & OTHER FINANCING USES Public Safety 16 31,268 923 232.757. 31 501,680 Public Works 17 12,945 536 143,631. 13,089,167 Health and Social Services 16 696,500 0 696,500 Culture and Recreation 19 17,559,545 229,647 17,789,192 Community and Economic Development 20 32,700,667 -1,617,999 31 082,688 General Government 21 14,052,690 259,848 14 312,538 Debt Service 22 13,210 690 35,000 13,245 690 Capital Projects 23 67,411,738 -15,489,999 51,921 739 Total Government Activities Expenditures 24 189,846,309 -16,207,115 173,639,194 Business T e/Enter rise 25 115,540,638 22,115,932 137,656,570 Total Gov Activities & Business Expenditures 26 305 386,947 5,908,817 311,295,764 Transfers Out 271 56 872195 19,647,893 76,520,088 Total Ex endituresrrransfers Out 28 362 259,142 25,556,710 3871i15,852. Excess Revenues & Other Sources Over Under Expenditures/Transfers; Out 29 -74,204,079 -4,490,815 -78,694,894 Beginn6p Fund Balance July 1, 2023 30 157,640,187 79,738,979 237,379,166 Ending Fund Balance June 30 2024 31 83.436,108 75 248,164 158 684,272 Explanation of Changes: Amendments Include the review and modification of the 2024 GIP plan, an adjustment to interest expense within debt service, and it Finance Department. various other smaller amendments, Additional detail is on file and available from the Iowa City 04116!2024 C�.i�t:u.►,-�' (�� Clerk/Administrator Signature of Certification Adopted On Mayor Slgr ;ttu' r of Certification RECEIVED JOHNSON CO, IOWA APR 2 2 2024 04/0412024 09:28 AM' J.44 ' Paae 1 of 1 COUNTY AUDITOR Resolution No Page 2 24-104 It was moved by Moe and seconded by Alter the Resolution be adopted, and upon roll call there were: Ayes: x Nays: Absent: Alter Bergus Dunn Harmsen Moe Salih Teague Item Number: 10.e. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution adopting the annual budget for the fiscal year ending June 30, 2025. Prepared By: Nicole Davies, Finance Director Reviewed By: Geoff Fruin, City Manager Fiscal Impact: See memo below Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Notice of Public Hearing FY25 Budget.pdf FY25 Budget Adoption Resolution.doc Executive Summary: On April 16, 2024, two public hearings are being held: one hearing will be held to take public input on the proposed amendment of the fiscal year 2024 (FY2024) budget, and one hearing will be held to take public input on the proposed fiscal year 2025 (FY2025) budget. Following the first public hearing, a resolution to amend the FY2024 Operating Budget will be considered. Following the second public hearing, a resolution to adopt the FY2025 Operating Budget and a resolution to approve the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document will be considered. The FY2025 adopted budget must be certified by the Johnson County Auditor's office by April 30, 2024. Background /Analysis: The FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document was made available to City Council and the general public in January 2024. This document included the proposed FY2024 amended budget and the proposed FY2025 budget. This document detailed the proposed and amended budgets as submitted by the City Manager following an extensive budget process. The City Council held public work sessions in January and February 2024 to review and discuss the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document. During these budget work sessions, the City Manager and the department directors presented their budget proposals and responded to questions from the City Council. The City Council also clarified and refined their budget priorities during these work sessions. The Resolutions to Amend the FY2024 Budget and to Adopt the FY2025 Budget and related schedules represent the programs and details that were included in the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document. The Resolutions and related schedules also include any subsequent changes as directed by the City Council as well as corrections and adjustments identified by City staff. The related schedules for the FY2024 Amended Budget and the FY2025 Budget will be made available to the public on April 2, 2024 and the Notices of Public Hearing for both will be published on April 4, 2024, in accordance with state law to allow for public input. Financial Impact: Fiscal Year 2025 Proposed Budget On January 12, 2024, the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document was delivered to the City Council and made available to the general public. Since that time, changes and adjustments were made by City staff to the proposed FY2025 budget. The changes to the FY2025 budget are summarized as follows: Removed PD license plate reader software, which reduced General Fund expenditures by $40,000 Increased some of the proposed parking meter rate increase from to $2.00/hr to $3.00/hr, which increased Parking Fund revenues by $100,000. Increased service expenditures for parking ramp operations by $37,400 for enhanced cleaning services for ramps, which increased Parking Fund expenditures. The final proposed property tax levy rate for FY2025 is $15.633 per $1,000 of taxable valuation; this is unchanged from the proposed levy rate presented in January. The FY2025 levy rate is unchanged from Iowa City's FY2024 levy rate of $15.633 per $1,000 of taxable valuation. From fiscal years 2013 to 2023, the City's property tax levy rate was decreased for eleven consecutive years by a total of $2.21 or 12.38%. 3/25/24, 4:19 PM Local Government Property Valuation System NOTICE OF PUBLIC HEARING— PROPOSED BUDGET Fiscal Year July 1, 2024 - June 30, 2025 City of: IOWA CITY The City Council will conduct a public hearing on the proposed Budget at: 410 E. Washington St., Emma Harvat Hall Meeting Date: 4/16/2024 Meeting Time: 06:00 PM At the public hearing any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. This notice represents a summary of the supporting detail of revenues and expenditures on file with the City Clerk and County Auditor. City budgets are subject to pi utest If protest petition requircorrals are met, the State Appeal Bum it will hold a local hearing. Fur arm a infonnatimy consult http.s://doiii.iowa The Budget Estimate Summary of proposed receipts and expenditures is shown below. Copies of the the detailed proposed Budget may be obtained or viewed at the offices of the Mayoc, City Clerk, and at the Library. e estimated Total tax levy rate per 1000 valuation on regular property 15.63305 e estimated tax levy rate per 1000 valuation on Agiicultuial landis 3.00375 At the public hearing, any resident or taxpayer may present objections to, or Phone Number (319) 356-5041 arguments in favor of, any part of the proposed budget City Clerk/Financc Officer's N Kellie Grace Budget FY 2025 Re -estimated FY 2024 Actual FY 2023 Revenues & Other Financing Sources Taxes Levied on Property 1 68,821,450 66,312,743 66,682,280 Less. Uncollected Property Taxes -Levy Year 2 0 0 0 Net Current Property Taxes 3 68,821,450 66,312,743 66,682,280 Delinquent Property Taxes 4 0 0 2,733 TIF Revenues 5 4,388,100 4,059,847 4,086,247 Other City Taxes 6 3,576,298 3,596,461 3,838,982 Licenses& Permits 7 2,122,880 2,033,921 2,854,375 Use of Money and Property 8 3,171,385 3,172,348 7,499,685 Intergovernmental 9 65,768,611 54,055,201 40,945,223 Charges for Fees & Service 10 56,579,585 50,485,282 50,340,498 Special Assessments 11 2,000 1,381 0 Miscellaneous 12 10,151,601 5,011,286 4,530,030 Other Financing Sources 13 16,770,900 43,872,400 11,873,518 TiansfeisIn 14 57,338,700 76,520,088 61,737,614 Total Revenues and Other Sources 151 288,691,510 309,120,958 254,391,185 Expenditures & Other Financing Uses Public Safety 16 31,911,220 31,501,680 29,377,655 Public Works 17 13,161,600 13,089,167 10,357,277 Health and Social Services 18 687,576 696,500 680,058 Culmrc and Recreation 19 17,695,590 17,789,192 16,378,547 Community and Economic Development 20 10,229,871 31,082,688 14,340,550 General Government 21 13,626,818 14,312,538 11,303,254 Debt Service 22 13,787,740 13,245,690 13,165,630 Capital Projects 231 41,047,794 51,921,739 22,949,801 Total Government Activities Expenditures 24 142,148,209 173,639,194 118,552,772 Business Type/Enterprises 25 99,559,142 137,656,570 67,112,243 Total ALL Expenditures 26 241,707,351 311,295,764 185,665,015 Transfers Out 27 57,338,700 76,520,088 61,737,614 Total ALL Expenditures/Transfers Out 28 299,046,051 387,815,852 247,402,629 Excess Revenues & Other Sources Over (Under) Expeuditures/Ti ausfers Out 29 -10,354,541 -78,694,894 6,988,556 Beginning Fund Balance July l 30 158,684,272 237,379,166 230,390,610 Ending Fund Balance June 30 31 148,329,731 158,684,272 237,379,166 https://dom-localgov.ima.gov/budget-renderer?id=17837 1/2 3/25/24, 4:19 PM Local Government Property Valuation System https:Hdom-localgov.ima.gov/budget-renderer?id=17837 2/2 4/4/24, 9:32 AM Local Government Property Valuation System FISCALYEAR JULY 1, 2024 -JUNE 30, 2025 ADOPTION OF BUDGET AND CERTIFICATION OF CITY TAXES The Cityof : IOWA QTY County Name: JOHNSON COUNTY Adopted On: 4/16/2024 Resolution: 24 - The below -signed certifies that the City Council, on the date stated above, lawfully approved the named resolution adopting a budget for neat fiscal year, as summarized on this and the supporting pages. Attached is Long Term Debt Schedule Form 703 which lists any and all of the debt service obligations of the City. With Gas & Electric Without Gas & Electric City Number: 52483 Last Official Census: 74,828 Regular 2a 4,379,070,267 2b 4,337,083,806 DEBT SERVICE 3al 4,516,211,809 1 3b 4,474,225,348 AS Land I 4al 1,285,2941 1 Consolidated General Fund Levy Calculation CGFL Max Rate CGFL Max Dollars Non -TIF Taxable w/ G&E Taxable Growth % FY 2024 Budget Data 8.57000 36,204,917 4,224,610,736 3.66 Limitation Percentage (� �� 2 8.40196 Consolidated General Fund CGFL Max Rate CGFL Max Dollars Revenue Growth % Max Allowed CGFL for FY 2025 8.40196 36,792,773 1.62 TAXES LEVIED Code Sec. Dollar Limit Purpose ENTER FIRE DISTRICT BELOW (A) Request �� Utility Replacement (B) Pro Taxes Levied (� �� 384.1 8.40196 Consolidated General Fund 5 36,792,773 36,440,005 43 8.40196 Non -Voted Other Permissible Levies 384.12(1) 0.95000 Opr& Maint publicly owned Transit 7 4,160,117 4,120,230 45 0.95000 384.12(2) 0.27000 Aviation Authority (under sec.330A. 15) 11 0 49 0.00000 384.12(3) Amt Nec Liability, property & self insurance costs 14 1,578,392 1,563,258 52 0.36044 384.12(5)1 Amt Nec Support of a Local Emerg.Mgmt.Comm. 4621 1 0 4651 0.00000 Voted Other Permissible Levies 28E.22 1.50000 Unified Law Enforcement 24 0 62 0.00000 Total General Fund Regular Levies (5 thm 24) 25 42,531,282 42,123,493 384.1 3.00375 AS Land 26 3,861 3,861 63 3.00375 Total General Fund Tax 1evies(25+26) 27 42,535,143 42,127,354 Do Not Add Special Revenue Levies 384.6 Amt Nec Pollee &Fire Retirement 29 3,410,844 3,378,155 0.77890 Amt Nec FICA & IPERS (if general fund at levy limit) 30 4,389,815 4,347,710 1.00245 Rules Amt Nec Other Employee Benefits 31 6,843,632 6,777,995 1.56280 Subtotal Employee Benefit Levy (29,30,31) 32 14,644,291 14,503,860 65 3.34415 Valuation 386 As Req With Gas & Elm Without Gas & El" SSMID 1 (A) 217,967,526 (13) 217,967,526 34 544,919 544,919 66 2.50000 SSMID 2 (A) 23,495,097 (13) 23,495,097 35 117,475 117,475 67 4.99998 SSMID 3 (A) 0 (B) 0 36 0 68 0.00000 SSMID 4 (A) 0 (B) 0 371 1 0 691 0.00000 SSMID 5 (A) 0 (B) 0 555 0 565 0.00000 SSMID 6 (A) 0 (B) 0 556 0 566 0.00000 SSMID 7 (A) 0 (B) 0 1177 0 1179 0.00000 SSMID B (A) 0 (B) 0 1185 0 1187 0.00000 Total Special Revenue Levies 39 15,306,685 15,166,254 384.4 Amt Nec Debt Service Levy 76.10(6) 40 11,636,020 11,527,842 70 2.57650 384.7 0.67500 Capital Projects (Capital Improv. Reserve) 41 0 71 0.00000 Total Property Taxes (27+39+40+41) 42 69,477,848 68,821,450 72 15.63305 COUNTY AUDITOR - I certify the budget is in compliance with ALL the following: Budgets that DO NOT and ALL the criteria below are not statutorily compliant & must be returned to the city for correction. City Representative TUatccountyAuditor) Date https://dom-localgov.iowa.gov/budget-renderer?id=17837 1120 4/4124, 9:32 AM Local Government Property Valuation System CITY NAME: NOTICE OF PUBLIC HEARING -CITY OF IOWA CITY- PROPOSED PROPERTY TAX LEVY CITY #:52-483 IOWA CITY Fiscal Year July 1, 2024 - June 30, 2025 The City Council will conduct a public hearing on the proposed Fiseal Year City property tax levy as follows: Mceting Date: 4/22024 Meeting Time: 04:00 PM Meeting Location: 410 E. Washington St, Emma Harvat Hall At the public hearing any resident or taxpayer may present objections to, or arguments in favor of the proposed tai levy. Atter the hearing of the proposed tai levy, the City Council will publish notice and hold a hearing on the proposed city budget. City Website (if available) icgov.org City Telephone Number (319)356-5041 Iowa Department of Management Curreat Year Certified PropertyTax 2023-2024 Budget Year Effective Property Budget Year Proposed Property Tax 2024-2025 Tax 2024-2025 lbxable Valuations for Nan -Debt Service 4,181,109,018 4,337,083,806 4,337,083,806 Consolidated General Fund 35,832,104 35,832,104 36,440,005 Operation & Maintenance of Public Transit 3,972,054 3,972,054 4,120,230 Aviation Authority 0 0 0 Liability, Property & Self Insurance 1,214,361 1,214,361 1,563,258 Support of Local Emergency Mgmt. Comm. 0 0 0 Unified Law Enforcement 0 0 0 Pollee & Fire Retirement 3,922,716 3,922,716 3,378,155 FICA & IPERS (If at General Fund Limit) 3,809,450 3,809,450 4,347,710 Other Employee Benefits 6,250,089 6,250,089 6,777,995 Capital Projects (Capital Improv. Reserve) 0 0 0 Taxable Value for Debt Service 4,315,268,875 4,474,225,348 4,474,225,348 Debt Service 10,695,221 10,695,221 11,527,842 CITY REGULAR TOTAL PROPERTY TAX 65,695,995 65,695,995 68,155,195 CITY REGULAR TAX RATE 15.63305 15.07191 15.63305 Taxable Value for City AS Land 1,512,444 1,285,294 1,285,294 AS Lard 4,543 4,543 3,861 CITYAG LAND TAX RATE 3.00375 3.53460 3.00375 lax Rate Comparison -Current VS. Proposed Residential property with an Actual/Assessed Value of $100,000 Curreat Year Certified 20232024 Budget Year Proposed 20242025 Percent Chaotic City Regular Residential 854 724 -15.22 Commercial property with an Actual/Assessed Value of $100,000 Current Year Certified 20232024 Budget Year Proposed 20242025 Percent Change City Regular Commercial 8541 724 -15.22 Note: Actual/Assessed Valuation is multiplied by a Rollback Percentage to get to the Taxable Valuation to calculate Property Taxes. Residential and Commercial properties have the same Rollback Percentage at $100,000 Actual/Assessed Valuation. Reasons for tax increase if proposed exceeds the current: Property tax askinps for fiscal year 2025 are 3.74% higher than those of fiscal year 2024. Salaries and benefits increased 4.52%, as well as, inflationary increases in fuel, supplies and materials. https://dom-localgov.iowa.gov/budget-renderer?id=17837 2120 FUND BALANCE City Nome: IOWA CITY Fiscal Year July 1, 2024 - June 30, 2025 R f` GENERAL SPECIAL REVENUES TIFSPECIAL REVENUES DEBT SERVICE CAPITAL PROJECTS PERMANENT TOTAL GOVERNMENT PROPRIETARY GRAND TOTAL Annual Report FY 2023 Beguuing Fund Balance July l 1 56,613,110 32,933,768 811,155 7,116,621 32,070,726 122,131 129,667,511 100,723,099 230,390,610 Actual Revenues Except Beg Balance 2 79,278,956 34,539,655 4,235,250 13,301,529 23,390,068 3,575 154,749,033 99,642,152 254,391,185 Actual Expenditures Except End Balance 3 76,379,146 33,253,540 4,860,317 13,165,630 22,984,801 0 150,643,434 96,759,195 247,402,629 Ending Fund Balance June 30 4 59,512,920 34,219,883 186,088 7,252,520 32,475,993 125,706 133,773,110 103,606,056 237,379,166 Re -Estimated FY 2024 Beguuing Fund Balance 5 59,512,920 34,219,883 186,088 7,252,520 32,475,993 125,706 133,773,110 103,606,056 237,379,166 Re -Est Revenues 6 84t864t9211 34,389,762 4,318,947 12,881,480 27,015,708 0 163,470,818 145,650,140 309,120,958 Re -Est Expenditures 7 95,471,304 49,714,562 4,023,863 13,245,690 51,921,739 0 214,377,158 173,438,694 387,815,852 Finding Fund Balance 8 48,906,537 18,895,083 481,172 6,888,310 7,569,962 125,706 82,866,770 75,817,502 158,684,272 Budget FY 2025 Beguuing Fund Balance 9 48,906,537 18,895,083 481,172 6,888,310 7,569,962 125,706 82,866,770 75,817,502 158,684,272 Revenues 10 76,287,128 31,126,319 4,538,100 13,550,820 40,898,200 0 166,400,567 122,290,943 288,691,510 Expenditures 11 88,025,698 31,450,177 4,311,800 13,787,740 41,047,794 0 178,623,209 120,422,842 299,046,051 Finding Fund Balance 12 37,167,967 18,571,225 707,472 6,651,390 7,420,368 125,706 70,644,128 77,685,603 148,329,731 R f` LOCAL EMC SUPPORT a CityName: IOWA CITY a Fiscal Year July 1, 2024 - June 30, 2025 As provided in Iowa Code Section 384.12, subsection 22, a city may levy the amount necessary in ouppport of a local Emergency Mmagement Commission. In addition to this individual levy, Emergency Munagement iw Commission support may also he included as part of the General Fund Levy. Iowa Code Section 29CW subsection 5 states that any support from cities or counties must he separately reported on tax statements issued by the county treasurer. Input the amount of General Fund Levy request to be used for support of an Emergency Management Commission. The total below will reflect the total amount of Emergency Management D> Commission support provided by the City. Request with Utility Replacement Property Taxes Levied TPORim of General Fund Levy Used for Emerg. Mgmt. Comm 0 Support of a Local Emerg.Mgmt.Comm. 01 0 TOTAL FOR FY 2025 01 0 N RE -ESTIMATED EXPENDITURES SCHEDULE PAGE 1 City Name: IOWA CITY Fiscal Year July 1, 2023 - June 30, 2024 GOVERNMENT ACTIVITIES CONT. GENERAL SPECIAL TIF SPECIAL REVENUE REVENUES DEBT CAPITAL RE -ESTIMATED SERVICE PROJECTS PERMANENT PROPRIETARY 2024 ACTUAL 2023 PUBLIC SAFETY Police DepartmeaVCrime Prevention 1 16,891,337 16,891,337 14,696,409 Jail 2 0 0 Emergency Management 3 0 0 Flood Control 4 0 0 Fire Department 5 10,336,439 10,336,439 9,506,985 Ambulance 6 0 0 Building Inspections 7 2,220,553 2,220,553 2,023,466 Miscellaneous Protective Services 8 0 0 Animal Control 9 1,141,731 1,141,731 986,124 Other Public Safety 10 3,531 908,089 911,620 2,164,671 TOTAL (lines 1 -10) 11 30,593,591 908,089 0 31,501,680 29,377,655 PUBLIC WORKS Roads, Bridges, & Sidewalks 12 5,556,488 5,556,488 4,680,636 Parking - Meter and Off -Street 13 1 1 0 0 Street Lighting 141 445,973 445,973 0 Traffic Control and Safety 15 1,024,939 1,024,939 1,401,267 Snow Removal 16 520,937 520,937 447,911 Highway Engineering 17 3,398,536 3,398,536 3,092,286 Street Cleaning 18 407,882 407,882 345,763 Airport (if not Enterprise) 19 0 0 Garbage (if not Enterprise) 20 0 0 Other Public Works 21 1,634,494 99,918 1,734,412 389,414 TOTAL (lines l2-21) 22 5,033,030 8,056,137 1 0 13,089,167 10,357,277 HEALTH & SOCIAL SERVICES Welfare Assistance 23 0 0 City Hospital 24 0 0 Payments to Private Hospitals 25 0 0 Health Regulation and Inspection 26 0 0 Water, Air, and Mosquito Control 27 0 0 Community Mental Health 281 1 0 0 Other Health and Social Services 29 696,500 696,500 680,058 TOTAL (lines 23 - 29) 30 696,500 0 1 0 696,500 680,058 CULTURE & RECREATION Library Services 31 7,981,403 7,981,403 7,226,829 Museum, Hand and Theater 32 0 0 Parks 33 3,905,829 3,905,829 3,525,033 Recreation 34 4,281,613 4,281,613 4,144,046 Cemetery 35 435,950 435,950 429,070 Community Center, Zoo, & Marina 3fi 0 0 Other Culture and Recreation 37 1,184,397 1,184,397 1,053,569 TOTAL (lines 31-37) 38 17,789,192 0 0 17,789,1921 16,378,547 E f` RE -ESTIMATED EXPENDITURES SCHEDULE PAGE 2 CityName: IOWA CITY Fiscal Year July 1, 2023 - June 30, 2024 GOVERNMENT ACTIVITIES CONT. GENERAL SPECIAL REVENUE TIF SPECIAL DEBT REVENUES SERVICE CAPITAL PERMANENT PROPRIETARY RE -ESTIMATED PROJECTS 2024 ACTUAL 2023 COMMUNITY & ECONOMIC DEVELOPMENT Community Beautification 39 434,464 434,464 359,596 Economic Development 40 5,927,382 5,927,382 2,054,184 Housing and Urban Renewal 41 5,944,857 5,944,857 6,138,912 Planning & Zoning 42 1,511,895 1,511,895 1,074,831 Other Cum & Econ Development 43 10,626,237 4,345,770 2,292,083 17,264,090 4,713,027 TO Rebates 44 0 0 TOTAL (lines 39 - 44) 45 18,499,978 10,290,627 2,292,083 0 31,082,688 14,340,550 GENERAL GOVERNMENT Mayor, Council, & City Manager 46 2,006,461 2,006,461 2,191,075 Clerk, Treasurer, & Finance Adm. 47 3,785,026 3,785,026 3,453,570 Elections; 48 0 0 Legal Services & City Attorney 49 927,296 927,296 895,609 City Hall & General Buildings 50 910,337 910,337 836,545 Tort Liability 51 1,349,670 1,349,670 1,256,451 Other General Government 52 4,379,3431 954,405 5,333,748 2,670,004 TOTAL (lines 46 - 52) 53 13,358,133 954,405 0 0 14,312,538 11,303,254 DEBT SERVICE 54 13,245,690 13,245,690 13,165,630 Gov Capital Projects 55 51,921,739 51,921,739 22,949,801 TO Capital Projects 56 0 0 TOTAL CAPITAL PROJECTS 57 0 0 0 51,921,739 0 51,921,739 22,949,801 TOTAL Governmental Activities Expenditures (lines 11+22+30+38+44+52+53+54) 58 85,970,424 20,209,258 2,292,083 13,245,690 51,921,739 0 173,639,194 118,552,772 BUSINESS TYPE ACTIVITIES Proprietary: Enterprise& Budgeted ISF Water Utility 591 9,324,480 9,324,480 6,936,363 Sewer Utility 60 8,457,153 8,457,153 7,870,600 Electric Utility 61 0 0 Gas Utility 62 0 0 Airport 63 408,624 408,624 436,452 LwxlWGarbage 64 11,097,867 11,097,867 9,639,261 Transit 65 15,181,854 15,181,854 8,567,165 Cable TV, Imemet & Telephone 66 0 0 Housing Authority 67 11,716,322 11,716,322 11,889,802 Storm Water Utility 68 743,114 743,114 613,262 Other Business Type (city hosp., ISF, puking, etc.) 69 4,431,752 4,431,752 3,982,520 Enterprise DEBT SERVICE 70 1,802,326 1,802,326 3,989,270 Enterprise CAPITAL PROJECTS 71 74,493,078 74,493,078 13,187,548 Enterprise TIF CAPITAL PROJECTS 72 1 0 0 TOTAL BUSINESS TYPE EXPENDITURES (lines 59+72) 73 137,656,570 137,656,570 67,112,243 TOTAL ALL EXPENDITURES (Una 58+73) 74 85,970,424 ,258 2,292,083 13,245,690 51,921,739 0 137,656,570 311,295,764 185,665,015 Regular Transfers Out 75 9,241,780 ,304 35,782,124 74,529,208 59,810,399 Internal TO Loan Transfers Out 76 259,100 ;29,505,304 1,731,780 1,990,880 1,927,215 Total ALL Transfers Out 77 9,500,880 1,7317800 0 0 35,782,124 76,520,088 61,737,614 tal Expenditures and Other Fin Uses (Anes 74+77) 78 95,471,304 ,562 4,023,863 13,245,690 51,921,739 0 173,438,694 387,815,852 247,402,629 Ending Fund BalanceJme 30 79 48,906,537 ,083 481,172 6,888,3101 7,569,962 125,706 75,817,502 158,684,272 237,379,166 f` DETAIL City Name: IOWA CITY F®cal Nem July 1, 2023 - June 30, 2024 REVENUES &.OTHER FINANCING SOURCES GENERAL SPECIAL REVENUE TIF SPECIAL. REVENUES DEBT SERVICE CAPITAL PROJECTS RE -ESTIMATED PERMANENT PROPRIETARY 2024 ACTUAL 2023 Tares leviedw Property 1 40,186,840 15,430,682 10,695,221 66,312,743 66,682,280 Lees: Uncollected Property Thxes - Levy Year 2 0 0 Net Curet Property Taxes (live 1 minor live 2) 3 40,186,840 15,430,682 10,695,221 0 66,312,743 66,682,280 Doh.qumt Property Taxes 4 0 2,733 TIF Revenues 5 4,059,847 4,059,847 4,086,247 Other City Taxee: UtilityTax Replacemmt Excise Taxes 6 418,070 154,177 107,817 680,064 783,780 Utility frmcise ter (Iowa Code Chapter 364.2) 71 1,151,500 1 1,151,5001 1,116,963 Pasimutuel wager ten 8 0 0 Gaming wager tax 9 0 0 Mobile Home Tares 10 34,827 12,989 8,981 56,797 52,976 Hotel/Motel Taxes 11 1,708,100 1,708,100 1,885,263 Other Local Option Taxes 12 0 0 Subtotal- Other City Tlexes(lines 60uu 12) 13 3,312,497 167,166 116,798 0 3,596,461 3,838,982 Licenses & Permits 14 2,024,993 8928 2,033,921 2,854,375 Use ofMoncy & Property 15 1,019,899 319,047 47,611 1,785,791 3,172,348 7,499,685 Intergovmmumtal: Federal Grunts & Rcimbureements 16 247,741 4,906,713 5,269,721 24,907,788 35,331,963 24,412,506 Road Use Taxes 17 9,900,316 9,900,316 10,346,324 Other State Creole & Iteimbursemmts 18 1,042,569 380,639 249,448 1,831,471 931,929 4,436,056 2,720,692 Laval Gants & Reimbursements 19 2,932,851 515,017 880,000 58,998 4,386,866 3,465,701 Subtotal- Intergovmimmtal(lines 160uu 19) 20 4,223,161 15,702,685 0 249,448 7,981,192 25,898,715 54,055,201 40,945$23 Charps for Fees & Service: Water Utility 21 11,320,853 11,320,853 11,222,956 Sewer Utility 22 12,362,576 12,362,576 12,333,027 Electric Utility 23 0 0 Gas Utility 241 1 0 0 Parking 25 12,123 5,813,232 5,825,355 5,595,020 Airport 26 0 0 Lavdfill/Garbage 27 11,602,093 11,602,093 11,598,048 Hospital 28 0 0 Ttmsit 29 65,219 65,219 1,1041582 Cable TV, Internet & Telephone 30 540,200 40 540,240 0 Ho -g Authority 31 0 0 Storm Water Utility 32 1,895,000 1,895,000 1,729,888 Other Fees & Charges for Service 33 6,807,078 66,868 6,873,946 6,756,977 Subtotal- Charger for Service (fine, 21 thin 33) 34 7,359,401 66,868 0 0 01 43,059,013 50,485,282 50,340,498 Special Assessments 35 1,381 1,381 0 Miacellmmua 36 1,800,182 513,341 64,338 1,800,000 833,425 5,011,286 4,530,030 Other Financing Sources: Regular Operating T1enafm In 37 24,001,445 2,189,973 20,052 7,253,470 41,064,268 74,529,208 59,810,399 lotmral TIF Lom Tmvsfers In 38 42,722 259,100 1,688,012 1,046 1,990,880 1,927$15 Subtotal ALL Olanting T1ensfere In 39 24,044,167 2,189,973 259,100 1,708,064 7,254,516 0 41,064,268 76,520,088 61,737,614 Proceeds ofDoht (Excluding TIF Internal Borrowing) 40 9,980,000 33,000,000 42,980,000 9,941,862 Proceeds ofCapiml Asset Sales 41 892,400 892,400 1,931,656 Subtotal -Other Financing Sources (fines 36 thm 38) 42 24,936,567 2,189,973 259,100 1,708,064 17,234,516 0 74,064,268 120,392,488 73,611,132 Total Revenue, except for begiming fund balance (firm 3, 4, 5,12,13,14,19, 33,343 353 & 39) 43 84 864,921 34,389,762 4,318,947 12,881,480 27,015,708 0 145,650,140 309,120,958 254,391,185 Beginning Food Balmce July l 44 59,512,920 34,219,883 186,088 7,252,520 32,475,993 125,706 103,606,056 237,379,166 230,390,610 TOTAL REVENUES & BEGIN BALANCE (H m41+42) 45 1144,377,8411 68,609,645 1 4,505,035 20,134,0001 59,491,701 125,706 749,256,196 546,500,174 484,781,795 V O EXPENDITURES SCHEDULE PAGE City Name: IOWA CITY Fiscal Year July 1, 2024 - June 30, 2025 GOVERNMENT ACTIVITIES GENERAL SPECIAL TIF SPECIAL DEBT REVENUES REVENUES SERVICE CAPITAL PERMANENT PROPRIETARY PROJECTS BUDGET 2025 RG ESTIMATED 2024 ACTUAL 2023 PUBLIC SAFETY Police DepartmeaVCrime Prevention 1 16,676,195 16,676,195 16,891,337 14,696,409 Jail 2 0 0 0 Emergency Management 3 0 0 0 Flood Control 4 0 0 0 Fire Department 5 11,174,575 11,174,575 10,336,439 9,506,985 Ambulance 6 01 0 0 Building Inspections 7 2,255,450 2,255,450 2,220,553 2,023,466 Miscellaneous Protective Services 8 0 0 0 Animal Control 9 1,133,500 1,133,500 1,141,731 986,124 Other Public Safety 10 3,500 668,000 671,500 911,620 2,164,671 TOTAL (lines 1- 10) 11 31,243,220 668,000 0 31,911,220 31,501,680 29,377,655 PUBLIC WORKS Roads, Bridges, & Sidewalks 12 5,344,600 5,344,600 5,556,488 4,680,636 Parking - Meter and Off -Street 13 0 0 0 Street Lighting 14 461,900 461,900 445,973 0 Traffic Control and Safety 15 933,000 933,000 1,024,939 1,401,267 Snow Removal 16 714,200 714,200 520,937 447,911 Highway Engineering 17 3,fi6$fi00 3,668,600 3,398,536 3,092,286 Street Cleaning 18 412,900 412,900 407,882 345,763 Airport 19 0 0 0 Garbage (if not Enterprise) 20 0 0 0 Other Public Works 21 1,527,700 98,700 1,626,400 1,734,412 389,414 TOTAL (lines l2-21) 22 5,196,300 7,965,300 0 13,161,600 13,089,167 10,357,277 HEALTH & SOCIAL SERVICES Welfare Assistance 23 0 0 0 City Hospital 24 0 0 0 Payments to Private Hospitals 25 0 0 0 Health Regulation and Inspection 26 0 0 0 Water, Air, and Mosquito Control 27 0 0 0 Community Mental Health 28 0 0 0 Other Health and Social Services 29 687,576 687,576 696,500 680,058 TOTAL (lines 23-29) 30 687,576 0 0 687,576 696,500 680,058 CULTURE & RECREATION Library Services 31 7,887,900 7,887,900 7,981,403 7,226,829 Museum, Hand and Theater 32 0 0 0 Parks 33 3,914,950 3,914,950 3,905,829 3,525,033 Recreation 34 4,295,700 4,295,700 4,281,613 4,144,046 Cemetery 35 449,790 449,790 435,950 429,070 Community Center, Zoo, & Marina 36 0 0 0 Other Culture and Recreation 37 1,147,250 1,147,250 1,184,397 1,053,569 TOTAL (lines 31 - 37) 38 17,695,590 0 0 17,695,590 17,789,192 16,378,547 f` EXPENDITURES SCHEDULE PAGE CityName: IOWA CITY Fiscal Year July 1, 2024 - June 30, 2025 GOVERNMENT ACTIVITIES GENERAL SPECIAL TIFSPECIAL DEBT REVENUES REVENUES SERVICE CAPITAL PERMANENT PROPRIETARY PROJECTS BUDGET 2025 ESTIMATED 2024 ACTUAL 2023 COMMUNITY & ECONOMIC DEVELOPMENT Community Beautification 39 56,500 56,500 434,464 359,596 Economic Development 40 1,412,700 1,412,700 5,927,382 2,054,184 Housing and Urban Renewal 41 2,592,252 2,592,252 5,944,857 6,138,912 Planning & Zoning 42 1,322,919 1,322,919 1,511,895 1,074,831 Other Com & Econ Development 43 455,200 1,663,300 2,727,000 4,845,500 17,264,090 4,713,027 TIF Rebates 44 01 0 0 TOTAL (lines 39 - 44) 45 3,247,319 4,255,552 2,727,000 0 10,229,871 31,082,688 14,340,550 GENERAL GOVERNMENT Mayor, Council, & City Manager 46 2,110,350 2,110,350 2,006,461 2,191,075 Clerk, Treasurer,&Finance Adm. 47 3,845,005 3,845,005 3,785,026 3,453,570 Elections 48 0 0 0 Legal Services & City Attorney 49 965,048 965,048 927,296 895,609 City Hall & General Buildings 50 864,600 864,600 910,337 836,545 Tort Liability 511 1,618,600 I I 1,618,600 lt349t6701 1,256,451 Other General Government 52 3,619,290 603,925 4,223,215 5,333,748 2,670,004 TOTAL (lines 46 - 52) 53 13,022,893 603,925 0 0 13,626,818 14,312,538 11,303,254 DEBT SERVICE 54 13,787,740 13,787,740 13,245,690 13,165,630 Gov Capital Projects 55 41,047,794 41,047,794 51,921,739 22,949,801 TIF Capital Projects 56 0 0 0 TOTAL CAPITAL PROJECTS 57 0 0 0 41,047,794 0 41,047,794 51,921,739 22,949,801 TOTAL Government Activities Expenditures (lines 11+22+30+38+45+53+54+57) 58 71,092,898 13,492,777 2,727,000 13,787,740 41,047,794 0 142,148,209 173,639,194 118,552,772 BUSINESS TYPE ACTIVITIES Proprietary: Enterprise & Budgeted ISF Water Utility 59 9,005,052 9,005,052 9,324,480 6,936,363 Sewer Utility 60 12,714,600 12,714,600 8,457,153 7,870,600 Electric Utility 61 0 0 0 Gas Utility 62 0 0 0 Airport 63 436,550 436,550 408,624 436,452 Landfill/Garbage 64 10,810,950 10,810,950 11,097,867 9,639,261 Transit 651 11,955,550 11,955,550 15,181,854 8,567,165 Cable TY, Internet & Telephone 66 1 0 0 0 Housing Authority 67 12,469,766 12,469,766 11,716,322 11,889,802 Storm Water Utility 68 681,900 681,900 743,114 613,262 Other Business Type (city hosp., ISF, parking, etc.) 69 5,162,374 5,162,374 4,431,752 3,982,520 Enterprise DEBT SERVICE 70 1,351,900 1,351,900 1,802,326 3,989,270 Enterprise CAPITAL PROJECTS 71 34,970,500 34,970,500 74,493,078 13,187,548 Enterprise TIF CAPITAL PROJECTS 72 1 0 0 0 TOTAL Business Type Expenditures (lines 59 - 72) 73 99,559,142 99,559,142 137,656,570 67,112,243 TOTAL ALL EXPENDITURES (Una 58+73) 74 71,092,898 13,492,777 2,727,000 13,787,740 41,047,794 0 99,559,142 241,707,351 311,295,764 185,665,015 Regular Transfers Out 75 16,782,800 17,957,400 20,863,700 55,603,900 I 74t529t2081 59,810,399 Internal TIF Loan / Repayment Transfers Out 76 150,000 1,584,800 1,734,8001 1,990,880 1,927,215 Total ALL Transfers Out 77 16,932,800 17,957,400 1,584,800 0 0 0 20,863,700 57,338,700 76,520,088 61,737,614 Total Expenditures & Fund Transfers Out (lines 74+77) 78 88,025,698 31,450,177 4,311,800 13,787,740 41,047,794 0 120,422,842 299,046,0511 387,815,8521 247,402,629 Ending Fund Balance June 30 79 37,167,967 18,571,225 707,472 6,651,390 7,420,368 125,706 77,685,603 148,329,7311 158,684,272 237,379,166 f` REVENUES DETAIL City Name: IOWA CrfY F®ed Yem July 1, 2024 - June 30, 2025 E` GENERAL SPECIAL REVENUES TIF SPECIAL REVENUES DEBT SERVICE CAPITAL PROJECTS PERMANENT PROPRIETARY BUDGET 2025 ESTIMATED 2024 ACTUAL 2023 REVENUES & OTHER FINANCING SOURCES Tines Levied on Property 1 42,127,354 15,166,254 11,527,842 0 68,821,450 66,312,743 66,682,280 Lees: Uncollected Property Thxes - Levy Yem 2 0 0 0 Net Currant Pmperty Teems(line l mines line 2) 3 42,127,354 15,166,254 11,527,842 0 68,821,450 66,312,743 66,682,280 Dehnq-t Property Toros 4 0 0 2,733 TIF it... 5 4,388,100 4,388,100 4,059,847 4,086,247 Other City Tluee: Utility TU Replaccresset Excise Tuams 6 407,789 140,431 108,178 0 656,398 680,064 783,780 Utility frarcise tax (Iowa Code Chapter 364.2) 7 1,116,700 1,116,700 1,151,500 1,116,963 Pa mala] wager tan 8 0 0 0 Gaming wager tax 9 0 0 0 Mobile Home Tures 10 33,100 11,300 8,400 52,800 56,797 52,976 Hotel/Motel Turns 11 1,750,400 1,750,400 1,708,100 1,885,263 Other Local Option T.. 12 0 0 0 Submtal - Other City Tures (lines 6 ffim 12 13 3,307,989 151,731 116,578 0 3,576,298 3,596,461 3,838,982 Licensee&Permits 14 2,117,900 4980 2,122,880 2,033,921 2,854,375 Use of Money&Property 15 1,011,300 286,785 54,50) 1,818,800 3,171,385 3,172,348 7,499,685 Intergovernmental: Federal Grants & Reimbursements 16 310,529 1,616,149 47,071,028 48,997,706 35,331,963 24,412,506 Road Us. T.. 17 10,500,000 10,500,000 9,900,316 10,346,324 Other Stete Omnte & R.,b..b 18 940,600 319,900 214,50) 859,300 2,344,300 4,436,056 2,720,692 Local Grants & Reimbursements 19 3,143,305 555,200 185,200 42,900 3,926,605 4,386,866 3,465,701 Subtetel - Inter vemm®tel (lines 16 thm 19 20 4,394,434 12,991,249 0 214,50) 185,200 47,973,228 65,768,611 54,055,201 40,945,223 Charges fm Fees & Service: Water Utility 21 11,900,300 11,900,300 11,320,853 11,222,956 Sewer Utility 22 13,208,100 13,208,100 12,362,576 12,333,027 Electric Utility 23 0 0 0 Ons Utility 24 0 0 0 Parking 25 14,000 9,358,635 9,372,635 5,825,355 5,595,020 Airport 26 0 0 0 Iandfrll/Garbage 27 12,522,600 12,522,600 11,602,093 11,598,048 Hospital 28 0 0 0 ltasit 29 400 400 65,219 1,104,582 Cable TV, Internet & Telephone 30 470,000 470,000 540,240 0 Hoaeing Authority 31 0 0 0 Sm. Water U6hty 32 1,911,800 1,911,800 1,895,000 1,729,888 Other Fees & Charges for Service 33 7,125$50 68,500 7,193,750 6,873,946 6,756,977 Submtal - Chargee for Service Qines 21 thin 33) 34 7,609,250 68,500 0 0 0 48,901,835 56,579,585 50,485,282 50,340,498 Special Assessments 35 2,000 2,000 1,381 0 Miaellaneous 36 1,542,101 340,100 65,20) 7,400,000 804,200 10,151,601 5,011,286 4,530,030 Other Financing Soumee: Regrlm Operating Tranafera In 37 13,711,400 2,121,700 20,10) 16,962,800 22,787,900 55,603,900 74,529,208 59,810,399 Internal TIF Loan Transfers In 381 42,500 150,000 1,542,100 200 1,734,800 1,990,880 1,927$15 Subtotal ALL Operating Tlranefen In 39 13,753,900 2,121,700 150,000 1,562,200 16,963,000 0 22,787,9001 57,338,700 76,520,088 61,737,614 Proceeds of Debt(Excluding TIF Internal Bormwin 40 16,350,0001 16,350,000 42,980,000 9,941,862 Proceeds of Capital Asset Sales 41 420,900 420,900 892,400 1,931,656 Subtotal -Other Financing Sources(tieea 38 tirru 40) 42 14,174,800 2,121,700 150,000 1,562,200 33,313,000 0 22,787,900 74,109,600 120,392,488 73,611,132 Total Revenues except for beginning fund balance (Imn3,4,5,133143 15320334335,3k&41) 43 76,287,128 31,126,319 4,538,100 13,550,820 40,898,200 0 122,290,943 288,691,510 309,120,958 254,391,185 Beginning Fund Balance July l 44 48,906,537 18,895,083 481,172 6,888,310 7,569,962 125,706 75,817,502 158,684,272 237,379,166 230,390,610 TOTAL REVENUES& BEGIN BALANCE (mea 42+43) 45 125,193,665 50,021,402 5,019,272 20,439,130 48,468,162 125,706 198,108,445 447,375,782 546,500,114 484,781,795 E` ADOPTED BUDGET SUMMARY City Nome: IOWA CITY Fiscal Year July 1, 2024 - June 30, 2025 f` GENERAL SPECIAL REVENUES TIF SPECIAL REVENUES DEBT SERVICE CAPITAL PROJECTS PERMANENT PROPRIETARY BUDGET 2025 RE -ESTIMATED 2024 ACTUAL 2023 Revenues & Other Financing Sources Taxes Levied on Property 1 42,127,354 15,166,254 11,527,842 0 68,821,450 66,312,743 66,682,280 Less: Uncollected Property butes-Levy Year 2 0 0 0 0 0 0 0 Net Current Property Taxes 3 42,127,354 15,166,254 11,527,842 0 68,821,450 66,312,743 66,682,280 Delinquent Property Taxes 4 0 0 0 0 0 0 2,733 TIF Revenues 5 4,388,100 4,388,100 4,059,847 4,086,247 Other City Taxes 6 3,307,989 151,731 116,578 0 3,576,298 3,596,461 3,838,982 Licenses & Permits 7 2,117,900 0 4,980 2,122,880 2,033,921 2,854,375 Use of Money and Property 8 1,011,300 286,785 0 54,500 0 0 1,818,800 3,171,385 3,172,348 7,499,685 Intergovernmental 9 4,394,434 12,991,249 0 224,500 185,200 47,973,228 65,768,611 54,055,201 40,945,223 Charges for Fees & Service 10 7,609,250 68,500 0 0 0 48,901,835 56,579,585 50,485,282 50,340,498 Special Assessments 11 2,000 0 0 0 0 2,000 1,381 0 Miscellaneous 12 1,542,101 340,100 65,200 7,400,000 0 804,200 10,151,601 5,011,286 4,530,030 Sub -Total Revenues 13 62,112,328 29,004,619 4,388,100 11,988,620 7,585,200 0 99,503,043 214,581,910 188,728,470 180,780,053 Other Financing Sources: Total Transfers In 14 13,753,900 2,121,700 150,000 1,562,200 16,963,000 01 22,787,900 57,338,700 76,520,088 61,737,614 Proceeds of Debt 15 0 0 0 0 16,350,000 0 16,350,000 42,980,000 9,941,862 Proceeds of Capital Asset Sales 16 420,900 0 0 0 0 0 0 420,900 892,400 1,931,656 Total Revenues and Other Sources 17 76,287,128 31,126,319 4,538,100 13,550,820 40,898,200 0 122,290,943 288,691,510 309,120,958 254,391,185 Expenditures & Other Financing Uses Public Safety 18 31,243,220 668,000 0 0 31,911,220 31,501,680 29,377,655 Public Works 19 5,196,300 7,965,300 0 0 13,161,600 13,089,167 10,357,277 Health and Social Services 20 687,576 0 0 0 687,576 696,500 680,058 Culture and Recreation 21 17,695,590 0 0 0 1 17,695,590 17,789,192 16,378,547 Community and Economic Development 22 3,247,319 4,255,552 2,727,000 0 10,229,871 31,082,688 1 14,340,550 General Government 23 13,022,893 603,925 0 0 13t626,818 14t3t2t5381 11,303,254 Debt Service 24 0 0 0 13,787,740 0 13,787,740 13,245,690 13,165,630 Capital Projects 25 0 0 0 41,047,794 0 41,047,794 51,921,739 22,949,801 Total Government Activities Expenditures 26 71,092,898 13,492,777 2,727,000 13,787,740 41,047,794 0 142,148,209 173,639,194 118,552,772 Business Type Propriehay:Enterprise &ISF 27 99,559,142 99,559,142 137,656,570 67,112,243 Total Gov & Bus Type Expenditures 28 71,092,898 13,492,777 2,727,000 13,787,740 41,047,794 0 99,559,142 241,707,351 311,295,764 185,665,015 Total Tranafere Out 29 16,932,800 17,957,400 1,584,800 0 0 0 20,863,700 57,338,700 76,520,088 61,737,614 Total ALL Expenditures/Fund Transfers Out 30 88,025,698 31,450177 4,311,800 13,787,740 41,047,794 0 120,422,842 299,046,051 387,815,852 247,402,629 Excess Revenues & Other Sources Over 31 (Under) ExpendituresMansfers Out 135 1 -11,738,570 -323,858 226,300 -236,920 -149,594 0 1,868,101 -10,354,541 -78,694,894 6,988,556 Beginning Fund Balance July 1 33 48,906,537 18,895,083 481,172 6,888,310 7,569,962 125,706 75,817,502 158,684,272 I 237t379tl661 230,390,610 Ending Fund Balance June 30 134 37,167,967 18,571,225 707,472 6,651,390 7,420,368 125,706 77,685,603 148,329,7311 158,684,2721 237,379,166 f` LONGTERM DEBT SCHEDULE -LT DEBTI GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Debt Name Amount of Type of Debt Issue Obligation Debt Resolution Number Principal Due FY Interest Due FY Total Obliti gaon Due FY Bond Reg./ PiAt aynggen Fees Due FY Reductions due to Refinancing or Prepayment of Certified Debt Paid from Funds OTHER THAN Current Year Debt Service Taxes Amount Paid Current Yea r Debt Service Levy 2024 GO 1 9,980,000 GO proposed 2,000,000 499,000 2,499,000 400 659,261 1,840,139 2015 GO 2 7,785,000 GO 15-155 880,000 17,600 897,600 400 74,944 823,056 2016 GO 3 8,795,000 GO 16-162 1,010,000 40,900 1,050,900 400 1,051,300 2017 GO 4 9,765,000 GO 17-150 1,025,000 76,563 1,101,563 400 161,766 940,197 2018 GO 5 8,895,000 GO 18-133 915,000 113,850 1,028,850 400 1,029,250 2019 GO 6 12,535,000 GO 19-116 875,000 97,600 972,600 400 973,000 2020 GO 7 12,145,000 GO 20-114 790,000 142,200 932,200 400 932,600 2021 GO 8 11,325,000 GO 21-121 1,135,000 283,250 1,418,250 400 1,418,650 2022 GO 9 10,255,000 GO 22-121 995,000 333,328 1,328,328 400 1,328,728 2023 GO 10 9,105,000 GO 23-136 920,000 378,700 1,298,700 400 1,299,100 2016E TIF Revenue 11 12,805,000 NON -GO 16-255 950,000 297,750 1,247,750 400 1,248,150 0 2016 Water Revenue Refunding Bonds 12 3,650,000 NON -GO 16-172 525,000 4,594 529,594 400 529,994 0 2017 Water Revenue Refunding Bonds 13 5,910,000 NON -GO 17-154 800,000 21,488 821,488 400 821,888 0 2024 Sewer Revenue Bonds 14 33,000,000 NON -GO proposed 2,490,000 1,650,000 4,140,000 400 4,140,400 0 15 0 0 16 0 0 17 0 0 18 0 0 19 0 0 20 0 0 21 0 0 22 0 0 23 0 0 24 0 0 25 0 0 26 0 0 27 0 0 28 0 0 29 0 0 30 0 0 TOTALS 15,310,000 3,956,823 19,266,823 5,600 01 7,636,4031 11,636,020 f` LONGTERM DEBT SCHEDULE -LT DEBT2 GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Amount Type of Debt Debt Debt Name Revolution of Ievue Obligation Number Principal Interest Due FY Due FY Total Obligation Due FY Bond Re Paying Agent Fees Due FY Reductions due to Refinancing or Prepayment of Certified Deb[ Paid from Funds OTHER THAN Current Year Debt Service Taxes Amount Paid Current Year Debt Service Levy 31 - 0 0 32 - 0 0 33 - 0 0 34 - 0 0 35 - 0 0 36 - 0 0 37 - 0 0 38 - 0 0 39 - 0 0 40 - 0 0 41 - 0 0 42 - 0 0 43 - 0 0 44 0 0 45 0 0 46 0 0 47 0 0 48 0 0 49 0 0 50 0 0 51 0 0 52 0 0 53 0 0 54 0 0 55 0 0 56 0 0 57 0 0 58 0 0 59 0 0 600 0 TOTALS 15,310,000 3,956,823 19,266,823 5,600 0 7,636,403 11,636,020 f` LONGTERM DEBT SCHEDULE -LT DEBTS GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Amount Type of Debt Debt Debt Name Revolution of Ievue Obligation Number Principal Interest Due FY Due FY Total Obligation Due FY Bond Re Paying Agent Fees Due FY Reductions due to Refinancing or Prepayment of Certified Deb[ Paid from Funds OTHER THAN Current Year Debt Service Taxes Amount Paid Current Year Debt Service Levy 61 - 0 0 62 - 0 0 63 - 0 0 64 - 0 0 65 - 0 0 66 - 0 0 67 - 0 0 68 - 0 0 69 - 0 0 70 - 0 0 71 - 0 0 72 - 0 0 73 - 0 0 74 0 0 75 0 0 76 0 0 77 0 0 78 0 0 79 0 0 80 0 0 81 0 0 82 0 0 83 0 0 84 0 0 85 0 0 96 0 0 87 0 0 88 0 0 89 0 0 900 0 TOTALS 15,310,000 3,956,823 19,266,823 5,600 0 7,636,403 11,636,020 f` LONGTERM DEBT SCHEDULE -LT DEBT4 GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Debt Debt Name Amount Type of Debt Resolution of Issue Obligation Number Interest Due FY Due FY Total Obligation Obligation Due FY Bond RegJ Paying Agent Fees Due FY Reductions due to Refinancing or Prepayment of Certified Deb[ Paid from Funds OTHER THAN Current Year Debt Service Tax" Amount Paid Current Year Debt Service Levy 91 - 0 0 92 - 0 0 93 - 0 0 94 - 0 0 95 - 0 0 96 - 0 0 97 - 0 0 98 - 0 0 99 - 0 0 100 - 0 0 101 - 0 0 102 - 0 0 103 - 0 0 104 0 0 105 0 0 106 0 0 107 0 0 108 0 0 109 0 0 110 0 0 111 0 0 112 0 0 113 0 0 114 0 0 115 0 0 116 0 0 117 0 0 118 0 0 119 0 0 1200 0 TOTALS 15,310,000 3,956,823 19,266,823 5,600 0 7,636,403 11,636,020 f` LONGTERM DEBT SCHEDULE -LT DEBTS GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Debt Debt Name Amount Type of Debt Resolution of Issue Obligation Number Interest Due FY Due FY Total Obligation Obligation Due FY Bond RegJ Paying Agent Fees Due FY Reductions due to Refinancing or Prepayment of Certified Deb[ Paid from Funds OTHER THAN Current Year Debt Service Tax" Amount Paid Current Year Debt Service Levy 121 - 0 0 122 - 0 0 123 - 0 0 124 - 0 0 125 - 0 0 126 - 0 0 127 - 0 0 128 - 0 0 129 - 0 0 130 - 0 0 131 - 0 0 132 - 0 0 133 - 0 0 134 0 0 135 0 0 136 0 0 137 0 0 138 0 0 139 0 0 140 0 0 141 0 0 142 0 0 143 0 0 144 0 0 145 0 0 146 0 0 147 0 0 148 0 0 149 0 0 150 0 0 TOTALS 15,310,000 3,956,823 19,266,823 5,6001 01 7,636,4031 11,636,020 f` LONGTERM DEBT SCHEDULE -LT DEBT6 GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Debt Debt Name Amount Type of Debt Resolution of Issue Obligation Number Interest Due FY Due FY Total Obligation Obligation Due FY Bond RegJ Paying Agent Fees Due FY Reductions due to Refinancing or Prepayment of Certified Deb[ Paid from Funds OTHER THAN Current Year Debt Service Tax" Amount Paid Current Year Debt Service Levy 151 - 0 0 152 - 0 0 153 - 0 0 154 - 0 0 155 0 0 156 - 0 0 157 - 0 0 158 - 0 0 159 - 0 0 160 - 0 0 161 - 0 0 162 - 0 0 163 - 0 0 164 0 0 165 0 0 166 0 0 167 0 0 168 0 0 169 0 0 170 0 0 171 0 0 172 0 0 173 0 0 174 0 0 175 0 0 176 0 0 177 0 0 178 0 0 179 0 0 180 0 0 TOTALS 15,310,000 3,956,823 19,266,823 5,6001 01 7,636,4031 11,636,020 f` LONGTERM DEBT SCHEDULE -LT DEBT7 GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS Debt Debt Name Amount Type of Debt Resolution of Issue Obligation Number Interest Due FY Due FY Total Obligation Obligation Due FY Bond RegJ Paying Agent Fees Due FY Reductions due to Refinancing or Prepayment of Certified Deb[ Paid from Funds OTHER THAN Current Year Debt Service Tax" Amount Paid Current Year Debt Service Levy 181 - 0 0 182 - 0 0 183 - 0 0 184 - 0 0 185 - 0 0 186 - 0 0 187 - 0 0 188 - 0 0 189 - 0 0 190 - 0 0 191 - 0 0 192 - 0 0 193 - 0 0 194 0 0 195 0 0 196 0 0 197 0 0 198 0 0 199 0 0 200 0 0 201 0 0 202 0 0 203 0 0 204 0 0 205 0 0 206 0 0 207 0 0 208 0 0 209 0 0 210 0 0 TOTALS 15,310,000 3,956,823 19,266,823 5,6001 01 7,636,4031 11,636,020 f` LONGTERM DEBT SCHEDULE -GRAND TOTALS GENERAL OBLIGATION BONDS, TIF BONDS, REVENUE BONDS, LOANS, LEASE -PURCHASE PAYMENTS f` Privapal Due Interest Due Total OhBg"a Due Bond J Peymg Agent Reductions due to Refinancing or Paid from 3ourree OTHER THAN Amount Paid Budget Year FY 2025 FY 2025 FY 2025 Fees a FY 2025 Prepayment of Certified Debt Budget Year Debt Service Levy Debt Service Levy GO -TOTAL 10,545,000 1,982,991 12,527,991 4,000 0 895,971 11,636,020 NON GO - TOTAL 4,765,000 1,973,832 6,738,832 1,600 0 6,740,432 0 GRAND TOTAL 15,310,000 3,956,823 19,266,823 5,600 0 7,636,403 11,636,020 f` 4/4/24, 9:32 AM Local Government Property Valuation System NOTICE OF PUBLIC HEARING — PROPOSED BUDGET Fiscal Year July 1, 2024 - June 30, 2025 CityoL• IOWAClTY The City CouacR will conduct a public hearing on the proposed Budget at: 410 E. Washington St., Emma Harvat Hall Meeting Date: 4/16/2024 Meeting Time: 06:00 PM At the public hearing any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. This notice represents a summary of the supporting detail of revenues and expenditures on file with the City Clerk and County Auditor. City budgets are subject to protest. If protest petition requirements are met, the State Appeal Board will hold a local hearing. For more information, consult httos:00mrowa.g2yaliaal-budglLaaORgale. The Budget Estimate Summary of proposed receipts and expenditures is shown below. Copies of the the detailed proposed Budget may he obtained or viewed at the offices of the Mayor, City Clerk and at the Library. The estimated Total tax levy rate per 1000 valuation on regular property 15.63305 The estimated tax levy rate per valuation on Agricultunii land is 3.00375 At the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget Phone Number City Clerk/Finance Office2s N (319) 356-5041 Kellie Grace Budget FY 2025 Re -estimated FY 2024 Actual FY 2023 Revenues & Other Financing Sources Taxes Levied on Property 1 68,821,450 66,312,743 66,682,280 Less: Uncollected Properly Taxes -Levy Year 2 0 0 0 Net Current Property Taxes 3 68,821,450 66,312,743 66,682,280 Delinquent Property Taxes 4 0 0 2,733 TIF Revenues 5 4,388,100 4,059,847 4,086,247 Other City Taxes 6 3,576,298 3,596,461 3,838,982 Licenses & Permits 71 2,122,880 2,033,921 2,854,375 Use of Money and Properly 8 3,171,385 3,172,348 7,499,685 Intergovernmental 9 65,768,611 54,055,201 40,945,223 Charges for Fees & Service 10 56,579,585 50,485,282 50,340,498 Special Assessments 11 2,000 1,381 0 Miscellaneous 12 10,151,601 5,011,286 4,530,030 Other Financing Sources 13 16,770,900 43,872,400 11,873,518 Transfers In 14 57,338,700 76,520,088 61,737,614 Total Revenues and Other Sources 15 288,691,510 309,120,958 254,391,185 Expenditures & Other Financing Uses Public Safety 16 31,911,220 31,501,680 29,377,655 Public Works 17 13,161,600 13,089,167 10,357,277 Health and Social Services 18 687,576 696,500 680,058 Culture and Recreation 19 17,695,590 17,789,192 16,378,547 Community and Economic Development 20 10,229,871 31,082,688 14,340,550 General Government 21 13,626,818 14,312,538 11,303,254 Debt Service 22 13,787,740 13,245,690 13,165,630 Capital Projects 23 41,047,794 51,921,739 22,949,801 Total Government Activities Expenditures 24 142,148,209 173,639,194 118,552,772 Business Type/]enterprises 25 99,559,142 137,656,570 67,112,243 Total ALL Expenditures 26 241,707,351 311,295,764 185,665,015 Transfers Out 27 57,338,700 76,520,088 61,737,614 Total ALL Bxpenditures/Daosfers Out 28 299,046,051 387,815,852 247,402,629 Excess Revenues & Other Sources Over (Under) Expenditures/Transfers Out 29 -10,354,541 -78,694,894 6,988,556 Beginning Fund Balance July 1 30 158,684,272 237,379,166 230390,610 Ending Fund Babmce June 30 31 148,329,731 158,684,272 237,,379,166 https://dom-localgov.iowa.gov/budget-renderer?id=17837 20/20 Prepared by: Nicole Davies, Finance Director, 410 E. Washington St., Iowa City, IA 52240; 319-356-5085 Resolution No. 24-105 Resolution adopting the annual budget for the fiscal year ending June 30, 2025. Whereas, a public hearing on the proposed budget for the fiscal year ending June 30, 2025 was held on April 16, 2024, at a regularly scheduled City Council meeting and public comments were received. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that:, 1. The annual budget,for the fiscal year ending June 30, 2025, as set forth in the Adoption of Budget and Certification of Taxes and on the Adopted Budget Summary, together with the detailed budget in support thereof showing revenue estimates, appropriation expenditures, and program allocations for said fiscal year should be and hereby is adopted. 2. The City Clerk is hereby directed to make the filings required by law, and to set up the . books in accordance with the summary and details, as adopted. Passed and approved this 16th day of April , 2024. Attest: I7 J City Clerk It was moved by Moe and seconded by adopted, and upon roll call there were: Ayes: Nays: VA X X X Approved by f G CityAttor ey's Office — 04/10/2024) Harmsen the Resolution be Absent: Alter Bergus Dunn Harmsen Moe Salih Teague M Attest: I7 J City Clerk It was moved by Moe and seconded by adopted, and upon roll call there were: Ayes: Nays: VA X X X Approved by f G CityAttor ey's Office — 04/10/2024) Harmsen the Resolution be Absent: Alter Bergus Dunn Harmsen Moe Salih Teague 4/19/24, 10:32 AM Local Government Property Valuation System FISCAL YEAR JULY 1, 2024 -JUNE 30, 2025 ADOPTION OF BUDGET AND CERTIFICATION OF CITY TAXES The City of : IOWA CITY CountyName: JOHNSON COUNTY Adopted On: 4/16/2024 Resolution: 24-105 The below -signed certifies that the City Council, on the date stated above, lawfully approved the named resolution adopting a budget for next fiscal year, as summarized on this and the supporting pages. Attached is Long Term Debt Schedule Form 703 which lists any and all of the debt service obligations of the City. With Gas & Electric Without Gas & Electric City Number: 52-483 Last Official Census: 74,828 Regular 2a' _ 4,379,070,267 2b. 4337,083,806 DEBT SERVICE I 3al 4,516,211,809 3b 4,474,225,348 Ag Land 4a 1,285,294 ted General Fund Lev* Calculation CGFL Max Rate CGFL Max Dollars Non -TIF Taxable w/ G&E Taxable Growth % FY 2024 Budget Data 8.57000, 36,204,917 4,224,610,736 3.66 Limitation Percentage (A) •Request CGFL Max Rate CGFL Max Dollars Revenue Growth % Max Allowed _CGFL-for-FY 2025 8.401961 36,792,773 1,62 AXES LEVIED COUNTYAUDITOR - I certify the budget is in compliance with ALL the folloMug; Budgets that DGN•OT meet ALL the criteria below are not statutorily compliant & must be returned to the city. Car correction.. presentative) JOHNSON'CO. IOWA e) AM..'t2 2024 COUNTY AUDITOR f T0, . ( County Auditor -V k 1pate ), https:/Idom-localgov.iowa.gov/budget-renderer?id=17837 1120 ENTER FIREP (A) •Request Code Dollar Limit Purpose DISTRICT with Utility Property op (C) Rate Sec. Replacement Taxes Levied BELOW 384.1 ..... _ . 8.40196 Consolidated General Fund 5 36,792,773 36,440 005 _ 43 _$.40196 _. - Non -Voted Other Permissible Levies 384.12(1) '0.95000 Opr & Maint publicly owned Transit 71, 4,160,117 4,120;230! 45 0.95000 384.12(2) 0.27000 Aviation Authority (under sec.330A.15) 11 0 49 0.00000 384:12(3) Amt Nec Liability,_property & self insurance costs 14 1,578,392' 1,563,258' 52 0.36044 384.12(5) Amt Nec Support of a Local Emerg.MgmLComm. 462 0 465 " "0.00000 Voted Other Permissible Levies 28E.22 1.50.000 Unified Law.Enforcernent' 24 0 62 0.00000 Total General Fund Regular Levies (5 thru 24) 25 ! 42,531,282 42;123,493, 384:1 3.00375; Ag Land 26 i 31861 3,861 63 3.00375 _. Total General Fund Tax Levies (25 + 26) 27 . 42,535,143 42,127,354 Do Not Add Special Revenue Levies - 384.6 -. Amt Nec .Police 8c Fire Retirement 29 3,410,844 ' 3,378,155 0.77890 Amt Nec FICA & IPERS (if general fund at levy limit) 30 4,389,815: . 4,347,710' ", _. 1.00245 Rules Amt Nec Other Employee Benefits 31 6,843,632, j 61777;995' 1.56280 Subtotal Employee.Benefit Levy (29,30,31) 32 14,644,291 14,503,860; 651 3.34415 Valuation Without 386 As Req With Gas & Elec Gas & Elec SSMID 1 (A) 217,967,526.,(B) 217,967,526 34 _ _._ _ 544,919_ 544,919 66 2.50000 SSMID 2 (A) 23,495,097 (13) 23,495,097 35 117,475 117,475 67 4:99998 SSMID 3 (A) 0 (B) 0 36 0 68 0:00000 SSMID 4 (A)_ 0 (B)0 37 0 , 69 0.00000 SSMID 5 (A) 0 (B) _ 0.555: 0 565 0.00000' SSD 6 MI (A) 0. (B) 0 556 0 566 0.00000 SSMID 7 (A) 0 (B) 0 1177 6 1179. 0.00000 SSMID 8 (A) 0 (B) 0 1185: 0 1187.0.00000 Total Special Revenue Levies 39 15,306,685 15,166,254 384,4 AmtNec Debt Service Levy 76.10(6) 40 11,636,020• 11,527,842 70 2.57650 384.7[ 0.67500 Capital Projects (Capital' Improv:.Resetvo). 41 01 71 0.00000 Total Property Taxes (27+39+40+41) 42' 69,477,343 68,821,450 72 15.63305 COUNTYAUDITOR - I certify the budget is in compliance with ALL the folloMug; Budgets that DGN•OT meet ALL the criteria below are not statutorily compliant & must be returned to the city. Car correction.. presentative) JOHNSON'CO. IOWA e) AM..'t2 2024 COUNTY AUDITOR f T0, . ( County Auditor -V k 1pate ), https:/Idom-localgov.iowa.gov/budget-renderer?id=17837 1120 Item Number: 10.f. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution approving the three-year Financial Plan for the City of Iowa City, Iowa, and the five- year Capital Improvement Plan. Prepared By: Reviewed By: Fiscal Impact: Staff Recommendation Commission Recommendations: Nicole Davies, Finance Director Geoff Fruin, City Manager See Background Analysis below. Approval N/A Attachments: Financial Plan Adoption Resolution.doc Executive Summary: On April 16, 2024, two public hearings are being held: one hearing will be held to take public input on the proposed amendment of the fiscal year 2024 (FY2024) budget, and one hearing will be held to take public input on the proposed fiscal year 2025 (FY2025) budget. Following the first public hearing, a resolution to amend the FY2024 Operating Budget will be considered. Following the second public hearing, a resolution to adopt the FY2025 Operating Budget and a resolution to approve the FY2024-2026 Financial Plan and 2024-2028 Capital Improvement Plan document will be considered. The FY2025 adopted budget must be certified by the Johnson County Auditor's office by April 30, 2024. Background /Analysis: The FY2024-2026 Financial Plan and 2024-2028 Capital Improvement Plan document was made available to City Council and the general public in January 2024. This document included the proposed FY2024 amended budget and the proposed FY2025 budget. This document detailed the proposed and amended budgets as submitted by the City Manager following an extensive budget process. The City Council held public work sessions in January and February 2024 to review and discuss the FY2024-2026 Financial Plan and 2024-2028 Capital Improvement Plan document. During these budget work sessions, the City Manager and the department directors presented their budget proposals and responded to questions from the City Council. The City Council also clarified and refined their budget priorities during these work sessions. The Resolutions to amend the FY2024 Budget and to adopt the FY2025 Budget and related schedules represent the programs and details that were included in the FY2024-2026 Financial Plan and 2024-2028 Capital Improvement Plan document. The Resolutions and related schedules also include any subsequent changes as directed by the City Council as well as corrections and adjustments identified by City staff. The related schedules for the FY2024 Amended Budget and the FY2025 Budget were made available to the public on April 2, 2024 and the Notices of Public Hearing for both were published on April 4, 2024, in accordance with state law to allow for public input. Financial Impact: Fiscal Year 2025 Proposed Budget & Fiscal Year 2024 Revised Budget On January 12, 2024, the FY2024 - 2026 Financial Plan and 2024 - 2028 Capital Improvement Plan document was delivered to the City Council and made available to the general public. Since that time, changes and adjustments were made by City staff to the proposed FY2025 budget and the FY2024 revised budget. The changes to the FY2025 budget are summarized as follows: Removed PD license plate reader software, which reduced General Fund expenditures by $40,000. Increased some of the proposed parking meter rate increase from to $2.00/hr to $3.00/hr, which increased Parking Fund revenues by $100,000. Increased service expenditures for parking ramp operations by $37,400 for enhanced cleaning services for ramps, which increased Parking Fund expenditures. The change to the revised FY2024 budget is summarized as follows Utilizing Revenue Replacement under the American Rescue Plan Act to allow for more time and less restrictions for funding for certain projects: ($10,000,000)Reduce Other Shared Revenues Expenses $10,000,000 Increase Other Shared Revenues Transfer Outs $10,000,000 Increase General Fund Transfer Ins $10,000,000 Increase General Fund Expenses The final proposed property tax levy rate for FY2025 is $15.633 per $1,000 of taxable valuation; this is unchanged from the proposed levy rate presented in January. The FY2025 levy rate is unchanged from Iowa City's FY2024 levy rate of $15.663 per $1,000 of taxable valuation. From fiscal years 2013 to 2023, the City's property tax levy rate was decreased for eleven consecutive years by a total of $2.21 or 12.38%. M Prepared by: Nicole Davies, Finance Director, 410 E. Washington St., Iowa City, IA 52240; 319-356-5085 Resolution No. 24-106 Resolution approving the three-year Financial Plan for the City of Iowa City, Iowa, ,and the five-year Capital Improvement Plan. Whereas, the City Council of the City of Iowa City deems it in the public interest and in the interest of good and efficient government for the City of Iowa City, Iowa, to adopt a three-year Financial Plan for operations and a five-year Capital Improvement Plan budget; and Whereas, the three-year Financial Plan and multi-year Capital Improvement Plan are subject to annual review and revisions; and Whereas, a public hearing was held on April 16, 2024, at a regularly scheduled City Council meeting and public comments were received. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: The City Council of the City of Iowa City does hereby adopt the three-year Financial Plan for the Fiscal Years 2024 through 2026 and the five-year Capital Improvement Plan 2024 - 2028. 2. This Resolution is an expression of the Council's legislative intent for planning future operation and capital improvements for the City of Iowa City, Iowa; and the anticipated, means of financing said plan, subject to applicable laws. Passed and approved this 16th day of April , 2024. l M& l Approved by: Attest: 1���,`_Q P_ �� City Clerk City Attorn 's Office — 04/10/2024 Resolution No. 24-106 Page 2 It was moved by Moe and seconded by Alter adopted, and upon roll call there were: Ayes: Nays: x x X x x Absent: Alter Bergus Dunn Harmsen Moe Salih Teague the Resolution be Item Number: 10.g. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution authorizing the installation of modified speed humps on Sheridan Avenue, between Oakland Avenue and 7th Avenue. Prepared By: Sarah Walz, Associate Transportation Planner Reviewed By: Kent Ralston, Transportation Planner Jason Havel, City Engineer Tracy Hightshoe, Director of Neighborhood and Development Services Fiscal Impact: CIP#S3816 Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Speed data and location of speed humps.pdf Correspondence email re traffic calming on Sheridan.pdf Resolution Sheridan.doc Executive Summary: Residents of Sheridan Avenue, from Oakland Avenue to 7 th Avenue, have successfully completed the City of Iowa City's Traffic Calming Program. The street qualifies for the program based on traffic speeds. Staff discussed the proposal with residents at a virtual (Zoom) meeting held in November. A follow-up survey of neighbors yielded a 50% response rate. Of those households that responded, 83% indicated support for the proposal to install modified speed humps. Background /Analysis: Residents of Sheridan Avenue submitted a petition to the City seeking consideration for the traffic calming process in Spring 2023. City staff collected speed measurements and traffic volumes to determine whether the street qualified for the program. The speed limit on Sheridan Avenue is 25 MPH. The traffic data collected indicate 85 th- percentile speeds of 32-33 MPH. This meets the minimum speed threshold for the traffic calming program: an 85th -percentile speed of 5 MPH or more over the speed limit. Staff reviewed the traffic study and street context with the City Engineer, the Streets Department, and the Fire Department to consider appropriate ways to address the speeding issue and concluded that modified speed humps would be the safest and most effective means to lower speeds. Modified speed humps are designed to allow large axle vehicles, such as fire trucks and buses to pass through with minimal slowing or jostling. Sheridan Avenue functions as a collector street with average daily traffic of approximately 1,500 to 1,700 vehicles per day along this segment. The pavement width on this portion of Sheridan Avenue is 25 feet, which meets the minimum standard for a local street. This width allows for on -street parking on one side of the roadway. Parked cars are regularly present along portions of the road segment. Block lengths are short, under 300 feet, along Sheridan Avenue and all intersections west of 7th Avenue are 4 -way intersections. All these factors should help to lower speeds and yet the 85-th percentile speeds exceed the standard required for traffic calming. On November 20th, a Zoom meeting was held with residents of the street to discuss options for slowing speeds. After discussing the options available, the consensus was to move forward with a survey with the proposal to install modified speed humps. In January, a survey was mailed to properties along Sheridan Avenue, between Oakland Avenue and 7th Avenue. The City's Traffic Calming Program requires at least 50% of the households contacted must return their survey postcards and, of those that respond, 60% must support the proposed traffic calming project. Staff sent surveys to 24 addresses and received responses from 12 households—a 50% response rate (12/24). Of the returned surveys, 10 indicated support for speed humps—an 83% approval rate (10/12). On March 24, signs were posted along Sheridan to alert the traveling public of the traffic calming proposal and the date on which City Council would consider the request. Funding for traffic calming projects is allocated from a line item in the CIP (S3816). The cost to construct a single modified speed hump is approximately $5,000. Staff is recommending 3 speed humps along this portion of Sheridan Avenue to meet the optimal spacing recommendations necessary to lower speeds. Speed humps are located so as not to conflict with driveways, intersections, or stormwater drainage. With the approval of this Resolution, staff will move forward with the installation of modified speed humps as described in this memo. Approximate speed hump locations Approximate speed hump locations are shown with a red line. Speed humps are spaced 250- 350 feet apart in order to encourage motorists to adopt a consistent speed. When locating speed humps, we avoid driveways, intersec- tions, and storm sewer intakes. Speed humps are also placed within individual pavement panels. City engineers will determine the final locations for installation. Traffic -control methods Traffic -control devices are installed on public roads and in private developments.' 0 Speed bump �rIAAI: Used mostly In private residential developments and shopping0enters. _ oto 6 inches I to3feet 0 Speed hump Used mostly on residential streets with speed limits up to 25 mph. ... - ------------------------------- _3to4indres _ , 1010 toRfeet Modified speed humps are designed to allow large -axle vehicles like buses and firetrucks to pass over with minimal slowing or jostling. Modi- fied speed humps are installed on Kenneth Drive and on Lake Shore Drive and Duck Creek Drive on the west side of Iowa City. What is 85th -percentile speed? It is the speed at which 85% of vehicles are operating at or lower than. Conversely, 15% of drivers are oper- ating at or above the 85th -percentile speed. Streets are eligible for traffic calming if the 85th -percentile speed is at least 5 MPH over the speed limit. Regarding proposal to install Speed Humps on Sheridan Avenue ®Susan McCabe <susan.mccab@m emchsi.co> EJ Seely <l() Reply All Forward To Streets for Pai Thu 3128/20247W PM Cc lin la Duffy OI You replied to this message on 4/1/2024757 AM. This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. Hello - I live one house off of Sheridan Avenue at 812 Longfellow Court, a condo area. I n -my opinion there is no need for the poposed speed humps. I have not noticed speeding in the proposed area exec ptfor a hat retail oftimes in the 17 years I have lived here, There is a stop sign atCredit red and Sheridan which helps to reduce speeding that might otherwise occur. Isn't it a hassle to have these humps in the w'mter far snow removal? There really is no need for this, in my opinion, and hope that you don't do this installation. Thank you, Susan McCabe 812 Longfellow Ct Iowa City, IA 52240 319-383-6054 Sheridan speed bumps ®Rhonda Finley <musicmamarhonda@gmaikcom> To EStreetsfor People OI You replied to this message on 4/1/2024 ]'.43 AM. ® Reply 4 ) Reply All Foreartl H Sat 3/30/202412A6 AM "This email originated outside of the City of Iowa City email system. Please take extra rare opening any links or attachments. w. NI, I live on Longfellow Place and -.calk mydog 23x a day along Sheridan Avenue. Rarelydo l see anyone speeding alongthearea being considered for speed or miss There are ro child-er that live In those fesv blocks on Sheridan, and I only see a couple kids cealk docrn Sheridan each day to and from shoo, as far as a safey issue. —his's a verysafe area, and rrost drivers are very considerate and keep to the speed limit, I also have notseet ary speed checking de,+Ices there, which I vrould think you r/oi.ld •cant to do first to mtfir n complaints. My experience with speed b- cops is chat you ca fret d its the 25 m.p.h. speed link aver -ielr, It's pore IIke 15 in. and that they should only be installed if there is a serious proh em. Thankyou forbearing Ty h=::, cents worth, Rhonda Finley Item: 10.e - 10.h STAFF PRESENTATION TO FOLLOW : T CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240- 1826 (319) 3S6-5000 (319) 356-5009 FAX www.icgov.org Q0 O N N i co I t0 01 ate-+ r-I N N � +-+ � Q N W Q ea°fy� $d% $niq te38e 9�1�k dl a jk g3, sir .1iDoMU p '.tae � I�iB@ .' . w 5 § c a LgA S E§ e (LO '°f 211§1 OR 6EVol V ii ➢€ •UU11i flIli F- $ [ p N O 0 > O p L L � N i+ Q L O ro (0 O Q a) a a) 0 d c 3 ED ai -z' O O � w o O ajaj O O Aro+ ? 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F. • 4,4iar - 'moi tl ,, . . ( s � \ ' cii 2 � ? CU � e o \ \ \ d 2 CL @ E e = m E E :/ 3 E $ U Cu ( 7 \ e n E © £ •- E % CL k 2/ \ f k � STAFF PRESENTATION CONCLUDED CITY OF IOWA CITY 410 East Washington Street Iowa City, Iowa 52240-1826 (3 19) 356-5000 (319) 356-5009 FAX www.icgov.org �ui +' Vmem��� City Council Supplemental Meeting Packet April 16, 2024 CITY OF 10WA CITY Information submitted between distribution of packet on Thursday and 4:00pm on Monday. Late Handout(s): 9.a. Rezoning - 302-316 E Bloomington Street - Local Historic Landmark: See correspondence from the following: Bobby Outterson-Murphy, Barbara McKenna, Risa Dotson Eicke. 9.b. Rezoning - 1810, 1816, and 1828 Lower Muscatine Road - See correspondence from the following: Laura Routh. 10.g. Sheridan Avenue Traffic Calming - See correspondence from the following: R D Hooper, Jason Agne, Dave Cusick. 10.h. Traffic Calming on Lindemann Drive - See correspondence from the following: Fred Klauke, Jana Klauke. April 16, 2024 City of Iowa City Item Number: 10.g. CITY OF OF IOWA CITY �fil COUNCIL ACTION REPORT April 16, 2024 Sheridan Avenue Traffic Calming - See correspondence from the following: R Hooper, Jason Agne, Dave Cusick. Attachments: correspondence Kellie Grace From: Sarah Walz Sent: Monday, April 15, 2024 10:51 AM To: Kellie Grace bate Handouts Distributed Subject: Correspondence RegardingTraffic Calming on Sheridan Avenue Attachments: R. Hooper.pdf (Date) Kellie, Attached is correspondence I have received regarding the traffic calming proposal on Sheridan Avenue. This pdf was sent to me using our alias StreetsForPeo I iowa-cit .or . This was submitted after council items were due for inclusion on the agenda. Please share this with the City Council for their consideration at the April 16th meeting. Thank you! Sarah Sarah Walz Associate Transportation Planner I Metropolitan Planning Organization of Johnson County 410 E. Washington St. Iowa City, IA 52240 319.356.5239 To whom it may concern, I am contacting you about the proposed installation of speed humps on Sheridan Ave. between Oakland Ave. and 7th Ave. While I am not entirely opposed to speed humps, I do think there are plenty of actions the City can take before resorting to hump installation, including crosswalks and signage. I have lived on Rundell street for over 20 years, the following are my observations and I have included a map below with the current traffic controls at the end of this letter for visualization. Longfellow Elementary is located one block from Sheridan Ave. -many children walk to school via Sheridan -there are no school zone signs posted -there is only 1 crosswalk located at the intersection of Sheridan and Clark St. -there is NO crosswalk at the Sheridan -Oakland St. intersection 2. Longfellow Nature Trail connecting Lower Muscatine and Sheridan -there is NO crosswalk at the end of the Trail across Sheridan -this would not be as much as an issue EXCEPT the sidewalk along Sheridan ends just to the east of Ralson Creek forcing people to cross Sheridan in the middle of the block -many residents out walking their dogs often use the garbage located at the north end of the Trail causing frequent back and forth across Sheridan 3. Roger's Green has NO sidewalk access -it is only accessible via an short alley space and has no official parking -this is kind of a moot point if no-one can access it, but it is a City owned park and should be taken into account 4. Speeding/Parking -yes, cars speed on all of Sheridan, from Summit St. to 7th Ave. -why is the proposal only Oakland to 7th? -the only 2 reasons I can imagine for not including the Summit to Oakland portion are: 1. There is a crosswalk and corresponding signs at the Clark St intersection 2. More people park on the street between Summit and Oakland -this is due partially to customers going to Deluxe Bakery on Summit St -some of the properties along between Summit and Oakland only have parking access via alleyways and residents prefer to park on Sheridan in front of their homes -this on street parking naturally slows the speed of traffic but this CANNOT be relied upon for speed control. Conclusion: I am not foolish to think some road signs and crosswalks are going to slow down all speeders, but I do think doing some due diligence first before jumping straight to speed humps and inconveniencing local residents is appropriate. Thank you, R. Hooper 907 Rundell St. •stop sign Sidewalk east of Longfellow Nature • crosswalk Trail ends forcing aNxw.al people to cross g c,nl ,A._ — No indication on Sheridan W,v.m d© i that a school is one block away Access to Roger's Green yyy is only via an alley. tM:u r5mnr:pa+ No crosswalk at the end of No sidewalks or Longfellow Nature Trait available parking i i tley.: a ��nph:rn.tr�mee •a�S:Nreb •:: 4 • — — -—SFnbenAiv- — s T:r • _ 5M1r•n�A`vji�� pne.aenn.r no sidewalk - sr.dL:uo. �ses nosideweliq+ S_ d x rnu G. Green Current traffic controls on Sheridan Ave Kellie Grace From: Sarah Walz Sent: Monday, April 15, 2024 10:44 AM Late Handouts Distributed To: Kellie Grace Subject: FW: Sheridan speed bumps L+ 5-aL/ Kellie, (Date) Here is one more email that I received regarding traffic calming on Sheridan Avenue. This was submitted after citems were due for inclusion on the agenda. Please share this with City Council for their consideration at the April 16`h meeting. Sarah From: IowaCity@enotify.visioninternet.com<IowaCity@enotify.visioninternet.com> Sent: Thursday, April 11, 2024 12:00 PM To: Sarah Walz <SWaizPiowa-cAv.org> Subject: Sheridan speed bumps r Rf�K ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Message submitted from the <Iowa City, IA> website. Site Visitor Name: Jason Site Visitor Email: Jasoncagne@gmail.com Hello. It would appear the city is exploring the idea of putting speedbumps on Sheridan Ave. To be clear I oppose this plan, as it is a road made wide presumably for the purpose of handling traffic. Effectively turing it into an enormous parking lot without widening some other road to Longfellow seems like a miscalculation. But, if it must be done then I'd request the speed bumps be of a grade that allows ordinary sedans to run over them at the speed limit with minimal peturbance. To be clear, I'm talking about sedans. The large trucks and SUVs aren't going to have trouble with them at any speed and there isn't much to be done about that, other than maybe having lower speed limits or higher taxes for trucks and SUVs (which sounds extreme). But, for example, Highland has speed bumps and if you run over them at the speed limit in a sedan you gamble with thousands of dollars in repairs, which the city probably isn't going to be in a hurry to compensate anyone for. So the speed limit isn't what is actually posted but is whatever your vehicle can handle - a bit of a paradox as the larger vehicles that handle them with ease are also the vehicles that are the least safe to get hit by. So, again, I'd prefer no speed bumps at all on Sheridan. But if there must be speed bumps please consider a low enough grade that sedans and even bicycles could run over them without inconvenience. Best Regards, Jason Agne Ashley Platz From: Sarah Walz Late Handouts Distributed Sent; Monday, April 15, 2024 3:22 PM To: Kellie Grace; Ashley Platz Subject: FW: Sheridan Av traffic calming J- 1 - 2 - (Date) This email arrived just this afternoon. I have responded to Mr. Cusick's questions and he has requested that his email be forwarded to the City Council for consideration at their April 16th meeting. Thankyou. Sarah From: Dave Cusick <gman3l@msn.com> Sent: Monday, April 15, 2024 1:22 PM To: Streets for People<streetsforpeople@iowa-city.org> Subject: Sheridan Av traffic calming R 5N ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Hello, As a 20+ year resident of Wilson Street in Iowa City, I frequently drive or ride my bike on Sheridan Avenue to get from 7th St to Summitt St and I have not observed any speeding traffic that would necessitate the installation of speed humps between Oakland Ave and 7th Ave. I would guess, the reasoning for the installation of speed humps is concern for kids coming J going to nearby Longfellow School. Has the city considered Speed Displays, like those on 7th Ave and Dubuque Street? What about posting Police Officers nearby twice a day for 30 minutes each.... one for before school and one for after school? Please consider this email my objection to any traffic calming J speed hump installations on Sheridan Avenue. Regards, Dave Cusick Prepared by: Sarah Walz, Associate Transportation Planner, 410 E. Washington St., Iowa City, IA 52240 (319) 356- 5239 Resolution no. 24-107 Resolution authorizing the installation of modified speed humps on Sheridan Avenue, between Oakland Avenue.and 7t1 Avenue. Whereas, the City Council has established a traffic calming program for the City of Iowa City for the purpose of considering neighborhood traffic calming projects; and Whereas, the residents of Sheridan Avenue have successfully completed the traffic calming process according to the City Council's approved procedure; and Whereas, a neighborhood survey has been conducted in accordance with the approved traffic calming program and an 83% majority of respondents who responded to the survey indicated they are in favor of speed humps; Whereas, the City Council finds said proposal to be in the public interest and is consistent with its adopted traffic calming program. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: 1. The proposal for modified speed humps on Sheridan Avenue is hereby approved. 2. City staff is directed to proceed with the installation of modified speed humps on Sheridan Avenue, between Oakland Avenue and 7th Avenue. Passed and approved this . 16th day of April , 2024. Bru6dTeague, Mayor Approved by Attest: Kellie Grace; City Clerk City Attorney'sDfflce — 04/11/2024 It was moved by Moe and seconded by Bergus the ResolutionLadopted, and upon roll call there were: Ayes: Nays: Absent: x Alter x Bergus x Dunn x Harmsen x Moe x Salih x Teague Item Number: 10.11h. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Resolution authorizing the installation of modified speed humps on Lindemann Drive, between Anna Street and Court Street. Prepared By: Sarah Walz, Associate Transportation Planner Reviewed By: Kent Ralston, Transportation Planner Jason Havel, City Engineer Tracy Hightshoe, Director of Neighborhood and Development Services Fiscal Impact: CIP#S3816 Staff Recommendation: Approval Commission Recommendations: N/A Attachments: Speed data and location of speed humps on Lindemann.pdf Resolution Lindemann.doc Executive Summary: Residents of Lindemann Drive, from Court Street to Anna Street, have successfully completed the City of Iowa City's Traffic Calming Program. The street segment qualifies for the program based on traffic speeds. Staff discussed traffic calming options with residents at a meeting held last Fall. A follow-up survey of neighbors yielded a 56% response rate. Of those households that responded, 63% indicated their support for the proposal to install modified speed humps. Background /Analysis: Residents of Lindemann Drive submitted a petition to the City seeking consideration for the traffic calming process in Spring 2023. City staff collected speed measurements and traffic volumes to determine that the street qualified for the program. The posted speed limit on Lindemann Drive is 25 MPH. Traffic data collected on Lindemann Drive indicate 85th -percentile speeds of 30-33 MPH south of Anna Street and 29-41 MPH for vehicles south of Gustav Street. On both street segments, the 85th -percentile speeds are more than 5 MPH over the speed limit. This meets the minimum speed threshold for the traffic calming program. Daily traffic volume on Lindemann Drive is fairly low. Approximately 1,000 vehicles per day were counted on the portion of the road south of Gustav Street. Between Gustav and Anna Streets there are fewer than 300 cars per day. Low traffic volumes may contribute to higher speeds Pavement widths and the presence of on -street parking can also influence speed. The pavement width on this portion of Lindemann Drive is 28 feet, which is standard for local residential streets. This width allows for on -street parking on both sides of the roadway, and parked cars are regularly present along portions of the road. The frequency of and alignment of street intersections also influence speed. There are no 4 - way intersections along Lindemann Drive—only T -intersections. Most of the intersections provide access to short cul-de-sacs or loop streets. Because there is little conflicting traffic entering the street, drivers may be encouraged to speed. Staff reviewed the traffic data and street context with the City Engineer, the Streets Department, and the Fire Department to consider appropriate ways to address the speeding issue and concluded that modified speed humps would be the safest and most effective means to lower speeds. Modified speed humps are designed to allow large axle vehicles, such as fire trucks and buses to pass through with minimal slowing or jostling. On October 12, a meeting was held with residents of the street to discuss options for slowing speeds. After discussing the options available, the consensus was to move forward with a survey with the proposal to install modified speed humps. Those attending the meeting requested two additional speed humps—one on Anna Street and one on Gustav Street—to slow traffic entering Lindemann Street. Staff reviewed this request and concurred that speed humps in proximity to the trail crossing would be beneficial. In November, a survey was mailed to households along the street. The City's Traffic Calming Program requires at least 50% of the households surveyed to return their survey postcards and, of those that respond, 60% must support the proposed traffic calming project. Staff sent surveys to 34 addresses and received responses from 19 households—a 56% response rate (19/34). Of the returned surveys, 12 indicated support for speed humps—a 63% approval rate (12/19). On March 20, signs were posted along Lindemann Drive to alert the traveling public of the traffic calming proposal and the date on which City Council would consider the request. Funding for traffic calming projects is allocated from a line item in the CIP (S3816). The cost to construct a single modified speed hump is approximately $5,000. Staff is recommending 6 speed humps along this portion of Lindemann Street and 2 additional speed humps - 1 on Anna Street and 1 on Gustav Street. This will slow vehicles just before they enter Lindemann Drive and provide an additional safety benefit at the trail crossings on each street. Speed humps are located so as not to conflict with driveways, intersections, or stormwater drainage. With the approval of this Resolution, staff will move forward with the installation of modified speed humps as described in this memo. Lindemann Drive Vehicle volumes and speeds were measured at ,two locations over a 72 -hour period. 244 Southbound 149 ADT (vehicles per day) 85th -Percentile speed = 33.2 MPH Northbound 140 ADT (vehicles per day) 85th -Percentile speed Approximate speed hump locations Possible speed hump locations are shown with a short red line. These are spaced ap- proximately 200-250 feet apart to encourage drivers to adopt a consistent speed. When placing speed humps we avoid drive- ways, intersections, and storm sewer intakes. We also try to place speed humps within pavement panels. Modified speed humps are designed to allow large -axle vehicles like buses and firetrucks to pass over with minimal slowing or jostling. Modified speed humps are installed on Ken- neth Drive and on Lake Shore Drive and Duck Creek Drive on the west side of Iowa City. What is 85th -percentile speed? It is the speed at which 85% of vehicles are operating at or lower than. Conversely, 15% of drivers are operating at or above the 85th - percentile speed. Streets are eligible for traffic calming if the 85th -percentile speed is at least 5 MPH over the speed limit. Collision History Since 2013, there have been 2 reported col- lisions on Lindemann Drive. No injuries re- sulted from these collisions. � r I City Council Supplemental Meeting Packet April 16, 2024 CITY OF IOWA CITY Information submitted between distribution of packet on Thursday and 4:00pm on Monday. Late Handout(s): 9.a. Rezoning - 302-316 E Bloomington Street - Local Historic Landmark: See correspondence from the following: Bobby Outterson-Murphy, Barbara McKenna, Risa Dotson Eicke. 9.1b. Rezoning - 1810, 1816, and 1828 Lower Muscatine Road - See correspondence from the following: Laura Routh. 10.g. Sheridan Avenue Traffic Calming - See correspondence from the following: R �--� Hooper, Jason Agne, Dave Cusick. 10.h. Traffic Calming on Lindemann Drive - See correspondence from the following: Fred Klauke, Jana Klauke. April 16, 2024 City of Iowa City Item Number: 10.11h. CITY OF OF IOWA CITY �fil COUNCIL ACTION REPORT April 16, 2024 Traffic Calming on Lindemann Drive - See correspondence from the following: Fred Klauke, Jana Klauke. Attachments: correspondence Kellie Grace From: Sarah Walz Sent: Monday, April 15, 2024 10:50 AM Late Handouts Distributed To: Kellie Grace Subject: Correspondence regarding traffic calming on Lindemann S' Z T -- Attachments: Lindemann Speed Humps; No speed humps on Lindemann; Against speed humps on Lindemann (Date) Kellie, Attached are three emails I received through our StreetsforPeople email regarding traffic calming on Lindemann Drive. These were submitted after council items were due for inclusion on the agenda. Please share this with the City Council for their consideration at the April 16th meeting. Sarah Walz Associate Transportation Planner I Metropolitan Planning Organization of Johnson County 410 E. Washington St. Iowa City, IA 52240 319.356.5239 Kellie Grace From: Fred Klauke <fredklauke@gmaiLcom> Sent: Sunday, April 14, 2024 9:24 AM To: Streets for People Subject: No speed humps on Lindemann A ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Hello, I'm writing to respectfully request that the city council votes NOT to put speed humps on Lindemann Drive. We have raised our family along Lindemann for over 10 years and have never felt that the traffic was unsafe or moving too fast for the area. Our children and our neighbors' children often walk along and across the street and not once have 1 felt that it was unsafe for them to do so because of traffic. The biggest issue with Lindemann isn't speed, it's the fact that it can take longer to get snow removed during heavy snowfall, or when there's under an inch of snow. Obviously I'm not blaming the Streets Dept. as they have a large area to take care of and Lindemann is a relatively low -traffic street, but by adding speed humps you will make it more difficult for the snowplows to clean the street effectively (especially between the humps) and thus make it more dangerous for drivers in slippery conditions, especially those of us who have smaller cars. And speaking of smaller cars, the wear and tear on the suspensions and potential damage to the undercarriage of some of the classic cars along our street will increase unnecessarily. There are several people who have vehicles with very low ground clearance, I know personally of two people who have classic Pontiac Fieros that have very low ground clearance, and some speed humps could very easily cause damage to the underside of such cars. On the flip side, the bigger vehicles along our street (which are obviously much more numerous) will be forced to slow down and speed up several times, which will cause their engines to be less efficient. Already they have a lot of emissions, but emissions increase as a vehicle's engine has to work harder under load - by causing them to slow down for the hump, and then accelerate to move forward again, you're forcing those vehicles to increase their emissions compared to if they were able to move forward at a steady pace, using their inertia to reduce fuel consumption. Finally, seeing speed humps on a street could adversely affect property values. All things being equal, I would pick a property on a street without speed humps as opposed to one with, especially with a street like Lindemann, which due to the winding nature of the street already causes people to have to drive cautiously and pay attention. I strongly feel that our city's tax dollars could be better spent on other street projects, such as the long -overdue reconstruction of Court Street between Scott Boulevard and Muscatine. Thank you for taking the time to consider this email, if you have any more questions please let me know. Fred Klauke 33 Mary Ct. Iowa City, IA 52245 563-370-9405 Kellie Grace From: Jana Klauke <janalynneklauke@gmail.com> Sent: Sunday, April 14, 2024 9:07 AM To: Streets for People Subject: Against speed humps on Lindemann A ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** Hello City Council - Thank you for considering my point of view before voting to add speed humps on Lindemann. I have lived just off Lindemann for 12 years - prior to the recent expansion of the housing to the north- which added housing and traffic. I can honestly say that I do not experience excessive speed by drivers - nor have I in the time I have lived here. I have never once felt unsafe for myself or my children - walking, riding bikes, or driving. I dislike speed humps for many reasons - 1. Wear and tear on the suspension of cars 2. Running the car in a low gear and or having to use a bit of gas to go over the hump vs coasting - is worse for the environment- I don't honestly use much acceleration/gas as I drive on Lindemann. 3. This could just push traffic to other smaller residential streets to avoid them 4. 1 worry about plowing- and doing an effective job of snow removal. 5. 1 also have read that they can decrease home values - https://www.researchgate.net/Dublication/328897348 A bump in the road soeed bumps' impact on oroperty va lues#:—:text=Findings%201nitia I%20results%20explo itine%20va riatio n,with%20red ured%20residentia I%20oronertv%2ov alues I would like money used to fix pot holes or other street related repairs. I strongly ask your consideration of voting against adding them. Thank you - Jana Klauke 33 Mary Ct Sent from my iPhone � r � City Council Supplemental Meeting Packet ��— April 16, 2024 CITY OF IOWA CITY Information submitted between distribution of the Supplemental Meeting Packet 1 on Monday and 3:00 pm on Tuesday. Late Handout(s) 9.a. Rezoning - 302-316 E Bloomington Street - Local Historic Landmark: See correspondence from the following: Greg Kovaciny, Joseph Ziegler, Ben Lewis 9.b. Rezoning - 1810, 1816, and 1828 Lower Muscatine Road - See correspondence from the following: Anne Marie Kraus, Ben Lewis 10.d. FY24 Budget Amendment Public Hearing & (10.e) FY25 Budget Public Hearing: See correspondence from the following: Ninoska Campos, Monty Montero-Elliott 10.h. Traffic Calming on Lindemann Drive: See correspondence from : Mary Gaffey April 16, 2024 City of Iowa City Item Number: 10.11h. CITY OF IOWA CITY COUNCIL ACTION REPORT April 16, 2024 Traffic Calming on Lindemann Drive: See correspondence from : Mary Gaffey Attachments: correspondence Kellie Grace From: Sarah Walz Late Handouts Distributed Sent: Tuesday, April 16, 2024 2:37 PM To: Kellie Grace Subject: FW: Lindemann bumps (Date) Kellie, I just received this email from Mary Gaffey. I checked with her and she would like this provided to Council as a late handout. Thank you. Sarah -----Original Message ----- From: Mary Gaffey <mbgaffey6o@gmail.com> Sent: Tuesday, April 16, 2024 2:14 PM To: Streets for People <streetsforpeople@iowa-city.org> Subject: Lindemann bumps ** This email originated outside of the City of Iowa City email system. Please take extra care opening any links or attachments. ** We don't feel that the bumps are necessary. If you look at Lindemann and the streets that feed into it you would see that there aren't any stop signs and only 2 yield signs. Lindemann is a no outlet street. We feel that if you start by installing stop signs that would help slow people down rather than rolling through the yield signs or unsigned streets. So please consider this before installing bumps that might cause injured to the children that ride there bikes on this street. 244 Lindemann Drive resident Sent from my Whone Prepared by: Sarah Walz, Associate Transportation Planner, 410 E. Washington St., Iowa City, IA 52240 (319) 356- 5239 Resolution no. 24-108 Resolution authorizing the installation of modified speed humps on Lindemann Drive, between Anna Street and Court Street. Whereas, the City Council has established a traffic calming program for the City of Iowa City for the purpose of considering neighborhood traffic calming projects; and Whereas, the residents of Lindemann Drive have successfully completed the traffic calming process according to the City Council's approved procedure; and Whereas, a neighborhood survey has been conducted in accordance with the approved traffic calming program -and an 63% majority of respondents who responded to the survey indicated they are in favor of speed humps; Whereas, the City Council finds said proposal to be in the public interest and is consistent with its adopted traffic calming program. Now, therefore, be it resolved by the City Council of the City of Iowa City, Iowa, that: 1. The proposal for modified speed humps on Lindemann Drive is hereby approved. 2. City staff is directed to proceed with the installation of modified speed humps on Lindemann Drive, between Anna Street and Court Street. Passed and approved this 16th day of April , 20_14 1 Bruc ague, Mayor Approved by Attest: G . Kellie Grace, ity Clerk City Attorney's Ice — 04/11/2024 it was moved by Salih and seconded by Alter the Resolution be adopted, and upon roll call there were: Ayes: Nays: Absent: x Alter x Bergus x Dunn x Harmsen x Moe x Salih x Teague