Loading...
HomeMy WebLinkAbout2017-01-19 Info PacketCITY COUNCIL INFORMATION PACKET CITY OF IOWA CITY www.icgov.org January 19, 2017 IP1 Council Tentative Meeting Schedule MISCELLANEOUS IP2 Memo from Finance Director: Quarterly Financial Summary Period Ending December 31, 2016 I123 Memo from Finance Director: Long-term Debt Disclosure Report IN Report from Senior Accountant: Quarterly Investment Report (October 1, 2016 — December 31, 2016 I125 Memo from Equity Director: Social Justice & Racial Equity Fourth Quarter Update for 2016 I136 Letter from Mediacom: Channel Adjustment DRAFT MINUTES IP7 Airport Commission: December 15 IP8 Housing & Community Development Commission: December 15 IP9 Human Rights Commission: January 17 CITY OF IOWA CITY Date Monday, January 30, 2017 01-19-17 City Council Tentative Meeting Schedule IPI Subject to change Time Meeting 4:00 PM Reception 4:30 PM Joint Entities Meeting January 19, 2017 Location Penn Elementary 230 N. Dubuque, NL Tuesday, January 31, 2017 5:00 PM Special Council Work Session Emma J. Harvat Hall Tuesday, February 7, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting Tuesday, February 21, 2017 5:00 PM Iowa City Conference Board Mtg. Emma J. Harvat Hall Work Session 7:00 PM Formal Meeting Tuesday, March 7, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting Tuesday, March 21, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting Tuesday, April 4, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting Tuesday, April 18, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting Tuesday, May 2, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting Tuesday, May 16, 2017 5:00 PM Work Session Emma J. Harvat Hall 7:00 PM Formal Meeting 01-19-17 �.® CITY OF IOWA CITY 1P2 MEMORANDUM Date: January 17, 2017 To: City Manager, City Council From: Dennis Bockenstedt, Finance Director Re: Quarterly Financial Summary for Period Ending December 31, 2016 Introduction Attached to this memorandum are the City's quarterly financial reports as of December 31, 2016. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for fiscal year 2017 through the end of the second quarter, which is 50% of the way through the fiscal year. Below are some of the highlights from of the City's financial activity. Revenue Analysis This revenue analysis pertains to the revenue reports, Revenues by Fund and Revenues by Type, on pages 4-6. In these two reports, the actual revenues would ideally be near 50% of budget since we have completed one-half of the fiscal year; however, due to accruals back to the previous year, many of these percentages are below 50%. A few examples of revenues that are below the 50% mark due to accruals include Hotel/Motel Taxes at 32.2% and Utility Franchise Taxes at 32.5% under Other City Taxes on page 5. Both of these revenue sources are received quarterly, and each had the first receipt during the fiscal year accrued back to last fiscal year. The report appears as if these revenues are behind budget projections; however, these two revenue sources are actually ahead of last year. The utility enterprise fund service charges have a similar presentation. The City's utility enterprise fund service charges under Charges for Fees and Services on page 5 are monthly service charges that are also impacted by revenue accruals. For instance, the Water Charges are at 48.3%, the Wastewater Charges are at 45.5%, and the Refuse Charges are at 42.9%. These revenues are under the 50% benchmark due to the accrual of revenues back to last fiscal year, but they are still on target to achieve their annual budget projections. Other individual revenue sources worth noting (on page 5) include: Construction Permit & Inspection Fees are at 100.9% and Building & Development fees are at 101.1%. due to substantial building activity this fall. Operating Grants revenue is at 119.7% due to the receipt of Invest Health grant funds and Library Open Access funds, and Disaster Assistance revenue is at 192.6% due to the receipt of the State's cost share of prior year disasters. Interest income (on page 6) is at -2.2% due to the method of accruing and allocating interest to the prior year which should correct itself later in the year. The combined total actual revenues for all budgetary funds through December are $99,323,507 or 48.2% of budget. Overall, the City's revenues are not substantially different than projected, and the anomalies and budget variances can be explained. Expenditure Analysis This expenditure analysis pertains to the expenditure reports, Expenditures by Fund and Expenditures by Fund by Department on pages 7-9. The analysis of the City's expenditures for fiscal year 2017 through December is similar to the analysis for the City's revenues. We generally expect the actual expenditure levels to be around 50% of budget at this time of year. Some funds have expenditure activity through the second quarter that differs significantly from the 50% mark. The following funds have a significant expenditure variance above or below 50%: • HOME Fund expenditures are at 5.0% due to the timing of the payout of loans and grants to applicants. • Debt Service Fund expenditures are at 24.7%, because the general obligation bond principal payments are not due until June 1. • Mass Transit Fund expenditures are at 29.5%, because bus purchases totaling $3.455 million have not occurred yet. • Airport Fund expenditures are at 123.3%, because the City purchased the FBO hangar building for $250,000 earlier this year. • Governmental Projects expenditures are at 18.4% and Enterprise Projects expenditures are at 9.6% because many of the capital projects are scheduled for construction this spring. Overall, the combined total actual expenditures for all budgetary funds through December are $98,757,318 or 37.4% of budget. Overall, the City's expenditures through the second quarter have a few major anomalies; however, these can be readily explained. Conclusion Generally, there are no major concerns to report with the City's fund balances at the end of December. One fund, the Community Development Block Grant (CDBG) Fund, is presented (on page 3) with negative fund balance at -$35,085. This negative fund balance should be reversed following the next receipt of CDBG funds. The other fund balances appear to be near expectations. Additional information is available from the Finance Department upon request. E City of Iowa City Fund Summary Fiscal Year 2017 through December 31, 2016 Debt Service Fund Beginning Ending Restricted, Unassigned Fund Year -to -Date Transfers Year -to -Date Transfers Fund Committed, Fund 1,365,118 Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds 6001 Perpetual Care 116,266 (146) - - General Fund 116,120 - 116,120 Enterprise Funds 10" General Fund $ 48,135,654 $ 25,539,401 $ 4,644,126 $ 24,769,057 $ 5,759,025 $ 47,791,099 $ 21,471,819 $ 26,319,279 Special Revenue Funds 1,485,191 114,182 11,908,835 5,885,583 6,023,252 715' Mass Transit 5,455,387 2100 Community Dev Block Grai 448,892 245,918 - 648,844 81,051 (35,085) - (35,085) 2110 HOME - 104,863 - 39,859 - 65,004 - 65,004 2200 Road Use Tax Fund 5,767,142 3,981,144 165,300 2,517,657 1,210,166 6,185,762 - 6,185,762 2300 Other Shared Revenue 152,415 365,910 - 394,406 - 123,918 - 123,918 2350 Metro Planning Ong of J.C. 302,423 112,120 134,128 288,227 - 260,444 - 260,444 2400 Employee Benefits 1,670,848 5,763,312 - 492,697 4,713,016 2,228,447 - 2,228,447 2500 Affordable Housing Fund 1,000,000 898 - 500,000 35,824 465,074 - 465,074 2510 Peninsula Apartments 124,888 38,034 - 24,878 - 138,044 - 138,044 26" Tax Increment Financing 239,487 1,060,192 - - - 1,299,679 236,684 1,062,995 2820 SSMID-Downtown District - 145,879 - 89,685 - 56,195 - 56,195 Debt Service Fund 5"' Debt Service 6,000,281 7,464,459 2,950 3,815,723 - 9,651,967 1,365,118 8,286,849 Permanent Funds 6001 Perpetual Care 116,266 (146) - - - 116,120 - 116,120 Enterprise Funds 710' Parking 10,742,693 2,765,515 - 1,485,191 114,182 11,908,835 5,885,583 6,023,252 715' Mass Transit 5,455,387 1,492,989 1,636,232 3,056,523 - 5,528,086 1,287,299 4,240,786 720` Wastewater 30,106,670 5,644,993 2,221,727 18,091,000 3,396,270 16,486,120 7,030,464 9,455,657 730* Water 16,240,827 4,395,829 972,480 9,082,967 923,706 11,602,463 3,087,1918,515,272 7400 Refuse Collection 1,245,110 1,366,158 - 1,515,849 - 1,095,420 - 1,095,420 750' Landfill 24,926,190 3,492,962 399,332 2,455,803 285,075 26,077,606 23,801,803 2,275,803 7600 Airport 572,874 165,912 56,605 459,684 5,564 330,142 100,000 230,142 7700 Storm water 1,170,823 825,390 - 287,686 120,005 1,588,522 - 1,588,522 79" Housing Authority 6,350,911 5,052,243 - 4,708,295 23,043 6,671,815 3,060,432 3,611,383 Capital Project Funds Governmental Projects 21,966,585 16,303,716 7,318,402 15,742,555 373,674 29,472,473 - 29,472,473 Enterprise Projects 10,232,849 2,679,364 (510,678) 1,357,692 - 11,043,843 - 11,043,843 Total Budgetary Funds $192,969,216 $ 89,007,055 $17,040,603 $ 91,824,278 $17,040,603 $ 190,151,993 $ 67,326,394 $122,825,600 Non -Budgetary Funds Capital Project Funds Internal Service Projects $ 66,776 $ 83 $ - $ 30,468 $ - $ 36,391 $ - $ 36,391 Internal Service Funds 810' Equipment 11,749,371 2,942,056 - 2,213,421 - 12,478,007 10,746,058 1,731,948 8200 Risk Management 3,414,156 1,580,155 - 582,934 - 4,411,377 - 4,411,377 830' Information Technology 2,516,722 1,467,083 - 749,903 - 3,233,902 597,871 2,636,031 8400 Central Services 667,695 113,512 - 70,634 - 710,572 - 710,572 8500 Health Insurance Reserves 9,902,794 4,028,027 - 3,119,934 - 10,810,887 4,282,539 6,528,348 8600 Dental Insurance Reserves 137,107 185,536 - 165,745 - 156,898 - 156,898 Total Non -Budgetary Funds $ 28,454,622 $ 10,316,452 $ - $ 6,933,040 $ - $ 31,838,034 $ 15,626,469 $ 16,211,565 Total All Funds $221,423,838 $ 99,323,507 $17,040,603 $ 98,757,318 $17,040,603 $221,990,027 $ 82,952,862 $139,037,165 3 Budgetary Fund Revenues General Fund 10" General Fund Special Revenue Funds 2100 Community Dev Block Grant 2110 HOME 2200 Road Use Tax Fund 2300 Other Shared Revenue 2350 Metro Planning Ong of Johnson Cc 2400 Employee Benefits 2500 Affordable Housing Fund 2510 Peninsula Apartments 26" Tax Increment Financing 2820 SSMID-Downtown District Debt Service Fund 5••• Debt Service Permanent Funds 6001 Perpetual Care Enterprise Funds 710' Parking 715' Mass Transit 720' Wastewater 730* Water 7400 Refuse Collection 750' Landfill 7600 Airport 7700 Storm Water 79" Housing Authority Capital Project Funds Governmental Projects Enterprise Projects Total Budgetary Revenues Non -Budgetary Fund Revenues Capital Project Funds Internal Service Projects Internal Service Funds 810' Equipment 8200 Risk Management 830` Information Technology 8400 Central Services 8500 Health Insurance Reserves 8600 Dental Insurance Reserves Total Non -Budgetary Expenditures Total Revenues -All Funds City of Iowa City Revenues by Fund Fiscal Year 2017 through December 31, 2016 2016 2017 2017 2017 Actual Budget Revised Actual Variance Percent $ 48,667,850 $ 50,044,369 $ 50,044,369 $ 25,539,401 $ (24,504,968) 51.0% 989,380 706,000 1,678,012 245,918 (1,432,094) 14.7% 614,958 421,000 813,343 104,863 (708,480) 12.9% 8,411,456 7,906,232 7,906,232 3,981,144 (3,925,088) 50.4% 380,110 - 825,105 365,910 (459,195) 44.3% 298,671 319,369 319,369 112,120 (207,249) 35.1% 10,516,769 11,144,971 11,144,971 5,763,312 (5,381,659) 51.7% 1,000,000 - - 898 898 0.0% 72,243 74,000 74,000 38,034 (35,966) 51.4% 1,030,833 2,276,953 2,276,953 1,060,192 (1,216,761) 46.6% 295,284 321,151 317,859 145,879 (171,980) 45.9% 13,301,893 13,645,137 14,302,460 7,464,459 (6,838,001) 52.2% 384 500 500 (146) (646) -29.2% 11,016,908 5,625,275 5,625,275 2,765,515 (2,859,760) 49.2% 4,582,386 7,120,613 7,196,613 1,492,989 (5,703,624) 20.7% 22,742,715 12,588,588 12,588,588 5,644,993 (6,943,595) 44.8% 13,346,893 9,111,655 9,111,655 4,395,829 (4,715,826) 48.2% 3,130,252 3,173,900 3,173,900 1,366,158 (1,807,742) 43.0% 6,268,826 5,977,982 5,977,982 3,492,962 (2,485,020) 58.4% 341,499 359,500 359,500 165,912 (193,588) 46.2% 1,173,615 1,516,221 1,516,221 825,390 (690,831) 54.4% 8,819,308 8,501,334 8,501,334 5,052,243 (3,449,091) 59.4% 16,503,591 19,553,084 40,029,738 16,303,716 (23,726,022) 40.7% 1,911,092 2,690,898 3,450,366 2,679,364 (771,002) 77.7% $175,416,916 $163,078,732 $187,234,345 $ 89,007,055 $ (98,227,290) 47.5% $ 25,195 $ - $ - $ 83 $ 83 0.0% 5,912,284 6,379,763 6,379,763 2,942,056 (3,437,707) 46.1% 1,547,056 1,623,145 1,623,145 1,580,155 (42,990) 97.4% 1,870,446 2,150,510 2,150,510 1,467,083 (683,427) 68.2% 243,265 269,844 269,844 113,512 (156,332) 42.1% 7,217,213 8,027,508 8,027,508 4,028,027 (3,999,481) 50.2% 364,364 382,627 382,627 185,536 (197,091) 48.5% $ 17,179,823 $ 18,833,397 $ 18,833,397 $ 10,316,452 $ (8,517,028) 54.8% $192,596,739 $181,912,129 $206,067,742 $ 99,323,507 $(106,744,317) 48.2% 4 City of Iowa City Revenues by Type Fiscal Year 2017 through December 31, 2016 Licenses, Permits, & Fees General Use Permits 2016 2017 2017 2017 (93,480) 10.2% Food & Liquor Licenses Actual Budget Revised Actual Variance Percent Budgetary Fund Revenues Professional License 18,700 18,660 18,660 6,510 (12,150) Property Taxes $ 52,020,805 $ 55,330,224 $ 55,330,224 $ 27,858,253 $ (27,471,971) 50.3% Other City Taxes: 26.3% 101.6% Construction Permits & Insp Fees 2,102,624 1,463,225 1,463,225 TIF Revenues 1,027,218 2,276,953 2,276,953 1,060,379 (1,216,574) 46.6% Gas/Electric Excise Taxes 764,260 746,043 746,043 363,318 (382,725) 48.7% Mobile Home Taxes 65,497 68,265 68,265 36,913 (31,352) 54.1% Hotel/Motel Taxes 1,078,762 1,057,385 1,057,385 340,654 (716,731) 32.2% Utility Franchise Tax 874,235 901,690 901,690 293,408 (608,282) 32.5% Subtotal 3,809,972 5,050,336 5,050,336 2,094,672 (2,955,664) 41.5% Licenses, Permits, & Fees General Use Permits 82,496 104,047 104,047 10,567 (93,480) 10.2% Food & Liquor Licenses 92,738 120,650 120,650 62,118 (58,532) 51.5% 47.9% Professional License 18,700 18,660 18,660 6,510 (12,150) 34.9% 49.3% Franchise Fees 733,644 720,000 720,000 189,131 (530,869) 26.3% 101.6% Construction Permits & Insp Fees 2,102,624 1,463,225 1,463,225 1,477,108 13,883 100.9% 119.7% Misc Lic & Permits 35,657 36,600 36,600 21,696 (14,905) 59.3% 192.6% Subtotal 3,065,859 2,463,182 2,463,182 1,767,130 (696,052) 71.7% 72.1% Intergovernmental Fed Intergovemment Revenue 12,693,466 15,181,625 22,356,506 5,600,596 (16,755,910) 25.1% Property Tax Credits 2,088,758 1,671,368 1,668,076 799,579 (868,497) 47.9% Road Use Tax 8,320,117 7,837,116 7,837,116 3,862,433 (3,974,683) 49.3% Slate 28E Agreements 2,058,908 1,785,000 1,785,000 1,813,044 28,044 101.6% Operating Grants 104,197 89,743 89,743 107,409 17,666 119.7% Disaster Assistance 118,068 - 97,071 186,974 89,903 192.6% Other State Grants 6,711,203 4,978,045 5,514,452 3,973,204 (1,541,248) 72.1% Local 28E Agreements 1,378,455 1,038,149 1,038,149 582,574 (455,575) 56.1% Subtotal 33,473,172 32,581,046 40,386,113 16,925,813 (23,460,300) 41.9% Charges For Fees And Services: Building & Development 1,719,875 401,750 437,612 442,410 4,798 101.1% Police Services 112,112 44,121 44,121 78,331 34,210 177.5% Animal Care Services 10,400 10,000 10,000 5,731 (4,270) 57.3% Fire Services 9,244 9,000 9,000 7,860 (1,140) 87.39/. Transit Fees 1,299,179 1,448,900 1,448,900 561,232 (887,668) 38.7% Culture & Recreation 761,363 812,093 812,093 286,934 (525,159) 35.3° Library Charges 22 - - 20 20 0.0% Misc Charges For Services 71,270 66,692 66,692 40,416 (26,276) 60.6% Water Charges 9,138,197 8,931,156 8,931,156 4,318,160 (4,612,996) 48.3% Wastewater Charges 12,264,380 12,201,600 12,201,600 5,553,180 (6,648,420) 45.5% Refuse Charges 3,491,480 3,608,800 3,608,800 1,546,497 (2,062,303) 42.9% Landfill Charges 5,686,853 5,341,722 5,341,722 3,208,536 (2,133,186) 60.1% Stone water Charges 1,167,517 1,477,710 1,477,710 669,557 (808,153) 45.3% Parking Charges 5,927,772 5,965,154 5,965,154 3,158,353 (2,806,801) 52.9% Subtotal 41,659,663 40,318,698 40,354,560 19,877,217 (20,477,344) 49.3% Miscellaneous: Code Enforcement 253,174 300,500 300,500 105,068 (195,432) 35.0% Parking Fines 549,575 620,000 620,000 251,783 (368,217) 40.6% Library Fines & Fees 155,519 160,000 160,000 75,103 (84,897) 46.9% Contributions & Donations 609,723 517,519 1,082,519 296,065 (786,454) 27.3% Printed Materials 49,456 44,326 44,326 21,082 (23,244) 47.6% Animal Adoption 14,190 13,000 13,000 6,290 (6,710) 48.4% Misc Merchandise 57,644 53,522 53,522 41,954 (11,568) 78.4% Intra -City Charges 3,112,634 4,003,742 4,003,742 1,938,863 (2,064,879) 48.4% Other Misc Revenue 739,617 708,915 1,563,599 1,207,207 (356,392) 77.2% Special Assessments 1,615 604 604 232 (372) 38.4% Subtotal $ 5,543,146 $ 6,422,128 $ 7,841,812 $ 3,943,648 $ (3,898,164) 50.3% L7 City of Iowa City Revenues by Type Fiscal Year 2017 through December 31, 2016 6 2016 2017 2017 2017 Actual Budget Revised Actual Variance Percent Use Of Money And Property: Interest Revenues $ 1,040,598 $ 927,821 $ 927,821 $ (20,221) $ (948,042) -2.2% Rents 1,265,519 1,256,057 1,256,057 658,582 (597,475) 52.4% Royalties & Commissions 149,751 113,814 113,814 51,638 (62,176) 45.4% Subtotal 2,455,867 2,297,692 2,297,692 689,998 (1,607,694) 30.0% Other Financial Sources: Debt Sales 23,897,097 16,187,000 28,992,000 12,805,000 (16,187,000) 44.2% Sale OF Assets 7,747,095 993,389 3,083,389 2,439,341 (644,048) 79.1% Loans 1,744,239 1,435,038 1,435,038 605;983 (829,055) 42.2% Subtotal 33,388,431 18,615,427 33,510,427 15,850,324 (17,660,103) 47.3% Total Budgetary Revenues $175,416,916 $163,078,733 $187,234,346 $ 89,007,055 (98,227,291) 47.59/. Non -Budgetary Fund Revenues Capital Project Funds $ 25,195 $ - $ - $ 83 $ 83 0.0% Internal Service Funds 17,154,628 18,833,397 18,833,397 10,316,369 (8,517,028) 54.8% Total Non -Budgetary Revenues $ 17,179,823 $ 18,833,397 $ 18,833,397 $ 10,316,452 $ (8,516,945) 54.8% Total Revenues - All Funds $192,596,739 $181,912,130 $206,067,743 $ 99,323,507 $(106,744,236) 48.2% 6 City of Iowa City Expenditures by Fund Fiscal Year 2017 through December 31, 2016 Budgetary Fund Expenditures General Fund 10" General Fund Special Revenue Funds 2100 Community Dev Block Grant 2110 HOME 2200 Road Use Tax Fund 2300 Other Shared Revenue 2350 Metro Planning Org of Johnson Co. 2400 Employee Benefits 2500 Affordable Housing Fund 2510 Peninsula Apartments 26" Tax Increment Financing 2820 SSMID-Downtown District Debt Service Fund 5"' Debt Service Permanent Funds 6001 Perpetual Care Enterprise Funds 710" Packing 715' Mass Transit 720' Wastewater 730' Water 7400 Refuse Collection 750` Landfill 7600 Airport 7700 Storm water 79" Housing Authority Capital Project Funds Governmental Projects Enterprise Projects Total Budgetary Expenditures Non -Budgetary Funds Expenditures Capital Project Funds Internal Service Projects Internal Service Funds 810` Equipment 8200 Risk Management 830• Information Technology 8400 Central Services 8500 Health Insurance Reserves 8600 Dental Insurance Reserves Total Non -Budgetary Expenditures Total Expenditures - All Funds 2016 2017 2017 2017 Actual Budget Revised Actual Variance Percent $ 49,198,596 $ 54,585,583 $ 54,960,394 $ 24,769,057 $ 30,191,337 45.1% 659,901 719,713 1,696,735 648,844 1,047,891 38.2% 747,816 428,108 801,716 39,859 761,857 5.0% 5,436,882 5,969,763 5,985,013 2,517,657 3,467,356 42.1% 446,465 - 970,712 394,406 576,306 40.6% 558,489 616,729 616,729 288,227 328,502 46.7% 1,054,857 1,212,865 1,212,865 492,697 720,168 40.6% - - - 500,000 (500,000) 0.0% 52,501 56,879 56,879 24,878 32,001 43.7% - 42,500 42,500 - 42,500 0.0% 295,284 321,151 321,151 89,685 231,466 27.9% 15,016,250 15,146,227 15,419,400 3,815,723 11,603,677 24.7% 0.0% 3,212,740 3,490,001 3,490,001 1,485,191 2,004,810 42.6% $142,297,407 6,917,901 10,251,640 10,346,640 3,056,523 7,290,117 29.5% 10,674,085 10,593,521 21,258,521 18,091,000 3,167,521 85.1% 7,686,557 8,558,936 12,724,240 9,082,967 3,641,273 71.4% 2,935,579 3,142,730 3,142,730 1,515,849 1,626,881 48.2% 4,550,095 4,505,413 4,625,413 2,455,803 2,169,610 53.1% 408,276 372,709 372,709 459,684 (86,975) 123.3% 738,102 624,077 662,627 287,686 374,941 43.4% 8,334,915 7,655,761 7,655,761 4,708,295 2,947,466 61.5% 19,479,006 3,893,109 35,452,225 4,517,923 85,483,245 14,169,410 15,742,555 1,357,692 69,740,690 12,811,718 18.4% 9.6% $142,297,407 $168,264,454 $ 246,015,391 $ 91,824,278 $154,191,113 37.3% $ 424,014 $ - $ - $ 30,468 (30,468) 0.0% 5,181,051 4,809,295 5,953,508 2,213,421 3,740,087 37.2% 1,431,387 1,571,941 1,571,941 582,934 989,007 37.1% 1,834,060 2,108,294 2,108,294 749,903 1,358,391 35.6% 234,097 251,840 251,840 70,634 181,206 28.0% 7,934,757 8,002,151 8,002,151 3,119,934 4,882,217 39.0% 370,061 375,896 375,896 165,745 210,151 44.1% $ 17,409,427 $ 17,119,417 $ 18,263,630 $ 6,933,040 $ 11,330,590 38.0% $159,706,834 $185,383,871 $ 264,279,021 $ 98,757,318 $165,521,703 37.4% VJ City of Iowa City Expenditures by Fund by Department Fiscal Year 2017 through December 31, 2016 8 2016 2017 2017 2017 Actual Budget Revised Actual Variance Percent Budgetary Funds Expenditures General Fund 10" General Fund City Council $ 107,734 $ 109,426 $ 109,426 $ 57,454 $ 51,972 52.59/. City Clerk 524,931 536,351 536,351 271,874 264,477 50.7% City Attorney 681,567 738,002 738,002 340,045 397,957 46.1% City Manager 2,154,215 2,522,541 2,522,541 999,655 1,522,886 39.6% Finance 3,598,454 4,243,950 4,243,950 2,242,914 2,001,036 52.8% Police 12,443,824 13,313,329 13,395,570 6,061,626 7,333,944 45.3% Fin; 7,486,024 7,876,882 7,969,064 3,764,023 4,205,041 47.2% Parks & Recreation 7,337,290 8,079,336 8,104,336 3,728,491 4,375,845 46.0% Library 6,083,035 6,347,022 6,347,022 2,939,661 3,407,361 46.3% Senior Center 823,993 954,090 994,808 402,502 592,306 40.5% Neighborhood& Development Services 6,614,830 6,892,339 7,027,009 2,885,145 4,141,864 41.1% Public Works 1,342,700 2,317,845 2,317,845 795,499 1,522,346 34.3% Transportation & Resource Management 654,470 654,470 280,168 374,302 42.8% Total General Fund 49,198,596 54,585,583 54,960,394 24,769,057 30,191,337 45.1% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 659,901 719,713 1,696,735 648,844 1,047,891 38.2% 2110 HOME Neighborhood & Development Services 747,816 428,108 801,716 39,859 761,857 5.0% 2200 Road Use Tax Fund Public Works 5,436,882 5,969,763 5,985,013 2,517,657 3,467,356 42.1% 2300 Other Shared Revenue Neighborhood & Development Services 446,465 - 970,712 394,406 576,306 40.6% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 558,489 616,729 616,729 288,227 328,502 46.7% 2400 Employee Benefits Finance 1,054,857 1,212,865 1,212,865 492,697 720,168 40.6% 2500 Affordable Housing Fund Neighborhood & Development Services - - - 500,000 (500,000) 0.0% 2510 Peninsula Apartments Neighborhood& Development Services 52,501 56,879 56,879 24,878 32,001 43.7% 26" Tax Increment Financing Neighborhood & Development Services - 42,500 42,500 - 42,500 0.0% 2820 SSMID-Downtown District Neighborhood& Development Services 295,284 321,151 321,151 89,685 231,466 27.9% Total Special Revenue Funds 9,252,195 9,367,708 11,704,300 4,996,254 6,708,046 42.7% Debt Service Fund 5"' Debt Service Finance 15,016,250 15,146,227 15,419,400 3,815,723 11,603,677 24.7% Total Debt Service Fund 15,016,250 15,146,227 15,419,400 3,815,723 11,603,677 24.7% Permanent Fund 6001 Perpetual Care Parks & Recreation 0.0% Total Permanent Fund $ - $ - $ - $ - $ - 0.0% 8 City of Iowa City Expenditures by Fund by Department Fiscal Year 2017 through December 31, 2016 9 2016 2017 2017 2017 Actual Budget Revised Actual Variance Percent Enterprise Funds 710' Parking Transportation& Resource Management $ 3,212,740 $ 3,490,001 $ 3,490,001 $ 1,485,191 $ 2,004,810 42.6% 715' Mass Transit Transportation & Resource Management 6,917,901 10,251,640 10,346,640 3,056,523 7,290,117 29.5% 720' Wastewater Public Works 10,674,085 10,593,521 21,258,521 18,091,000 3,167,521 85.1% 730' Water Public Works 7,686,557 8,558,936 12,724,240 9,082,967 3,641,273 71.4% 7400 Refuse Collection Transportation& Resource Management 2,935,579 3,142,730 3,142,730 1,515,849 1,626,881 48.2% 750` Landfill Transportation & Resource Management 4,550,095 4,505,413 4,625,413 2,455,803 2,169,610 53.1% 7600 Airport Airport Operations 408,276 372,709 372,709 459,684 (86,975) 123.3% 7700 Storm water Public Works 738,102 624,077 662,627 287,686 374,941 43.4% 79" Housing Authority Neighborhood & Development Services 8,334,915 7,655,761 7,655,761 4,708,295 2,947,466 61.5% Total Enterprise Funds 45,458,251 49,194,788 64,278,642 41,142,997 23,135,645 64.0% Capital Project Funds Governmental Projects 19,479,006 35,452,225 85,483,245 15,742,555 69,740,690 18.4% Enterprise Projects 3,893,109 4,517,923 14,169,410 1,357,692 12,811,718 9.6% Total Capital Project Funds 23,372,115 39,970,148 99,652,655 17,100,247 82,552,408 17.2% Total Budgetary Expenditures $142,297,407 $168,264,454 $246,015,391 $ 91,824,278 $154,191,113 37.3% Non -Budgetary Funds Expenditures Capital Project Funds Internal Service Projects $ 424,014 $ - $ - $ 30,468 $ (30,468) 0.0% Total Capital Project Funds 424,014 - - 30,468 (30,468) 0.0% Internal Service Funds 810' Equipment Public Works 5,181,051 4,809,295 5,953,508 2,213,421 3,740,087 37.2% 8200 Risk Management Finance 1,431,387 1,571,941 1,571,941 582,934 989,007 37.1% 830' Information Technology Finance 1,834,060 2,108,294 2,108,294 749,903 1,358,391 35.6% 8400 Central Services Finance 234,097 251,840 251,840 70,634 181,206 28.0% 8500 Health Insurance Reserves Finance 7,934,757 8,002,151 8,002,151 3,119,934 4,882,217 39.0% 8600 Dental Insurance Reserves Finance 370,061 375,896 375,896 165,745 210,151 44.1% Total Internal Service Funds 16,985,412 17,119,417 18,263,630 6,902,572 11,361,058 37.8% Total Non -Budgetary Expenditures $ 17,409,427 $ 17,119,417 $ 18,263,630 $ 6,933,040 $ 11,330,590 38.0% Total Expenditures - All Funds $159,706,834 $185,383,871 $ 264,279,021 $ 98,757,318 $165,521,703 37.4% 9 r iP3 CITY OF IOWA CITY z4ZL% �� MEMORANDUM Date: January 18, 2017 To: Geoff Fruin, City Manager From: Dennis Bockenstedt, Finance Director RE: Long-term Debt Disclosure Report On October 6, 2015, the City Council adopted a new Debt Management Policy. As part of that policy, an annual debt report was to be submitted within 210 days after the fiscal year-end to the City Manager and the City Council. The City's fiscal year 2016 ended on June 30, 2016, and this report is intended to provide information in regards to that fiscal year. According to the policy, the annual debt report should include, at a minimum, the following information: • General Long-term Debt Obligations: • Total actual and taxable property valuations • The historical trend of actual and taxable property valuations • List of the City's 10 largest taxpayers • Summary of all of the City's direct, long-term debt obligations • Debt per capita (GO Debt and TIF Revenue Debt) • Debt per total assessed value (GO Debt and TIF Revenue Debt) • City's debt versus the legal debt limit • Revenue -Secured Debt Obligations: • Summary of the system • Summary of the system's rates and charges • The historical trend of system's sales and charges • Coverage ratios for system • Number of system customers, if applicable • List of system's 10 largest users, if applicable According to the policy, the annual debt report should also include a list of any potential upcoming debt issues and a summary of any material events that have occurred in the past year. The report may also include any other relevant information that is significant to the City's debt program or ability to repay its debt obligations. During fiscal year 2016, the City incurred to following significant events related to its bond obligations: • Principal and interest payment delinquencies: None • Non-payment related defaults, if material: None • Unscheduled draws on debt service reserves reflecting financial difficulties: None • Unscheduled draws on credit enhancements relating to the Bonds reflecting financial substitution of credit or liquidity providers, or their failure to perform: None • 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 January 18, 2017 Page 2 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: None • Modifications to rights of Holders of the Bonds, if material: None • Bond calls (excluding sinking fund mandatory redemptions), if material, and tender offers; a Notice of Material Event was timely filed for each of these events: i. 2008A GO bond maturities called on July 1, 2015 • Defeasances of the Bonds; a Notice of Material Event was timely filed for this event: None • Release, substitution, or sale of property securing repayment of the Bonds, if material: None • Rating changes on the Bonds: None • Bankruptcy, insolvency, receivership or similar event of the Issuer: None • 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: None • Appointment of a successor or additional trustee or the change of name of a trustee, if material: i. Authorized substitution & appointment of U.S. Bank National Association to serve as Paying Agent, Registrar & Transfer Agent on October 20, 2015 In the next 180 days, we are currently anticipating the following potential bond issues: • 2017 Sewer Revenue Refunding Bonds — to refund 2009A Sewer Revenue Bonds - $5,925,000 • 2017 Water Revenue Refunding Bonds Refund — to refund 2009B Water Revenue Bonds and to construct water system improvements - $7,500,000 • 2017 General Obligation Bonds —2017 CIP Program - $9,765,000 Other potential debt issues include: • 2017 Parking Lease Purchase Agreement — Harrison Street Parking Ramp - $15,400,000 Attached to this memo are summaries that include the additional financial and debt information mentioned above. This information along with our Fiscal Year 2016 Comprehensive Annual Financial Report (CAFR) will be provided to our bondholders and will be posted on the Electronic Municipal Market Access (EMMA) web site in accordance with Municipal Securities Rulemaking Board (MSRB) rules. This information must be posted by January 26, 2017 in order to comply with the continuing disclosure certificates on our outstanding bonded debt. We are not aware of any material or significant events that will prevent the City from meeting its current outstanding bonded debt obligations. Finance and Operating Report For the City of Iowa City, Iowa Pursuant to Securities and Exchange Commission Rule 15c2-12 Through the Fiscal Year Ended June 30, 2016 Financial and Operating Data General Obligation Debt To the extent not included in the City's Financial Statements, all information the City of Iowa City has agreed to provide in its annual reports, as it relates to its outstanding general obligation debt is included in this report. Attached is additional information as required to be submitted under previous disclosure undertakings of the City. CITY PROPERTY VALUES IOWA PROPERTY VALUATIONS In compliance with Section 441.21 of the Code of Iowa, the State Director of Revenue annually directs the county auditors to apply prescribed statutory percentages to the assessments of certain categories of real property. The Johnson County Auditors adjusted the final Actual Values for 2014. The reduced values, determined after the application of rollback percentages, are the taxable values subject to tax levy. For assessment year 2014, the taxable value rollback rate was 55.7335% of actual value for residential property; 44.7021 % of actual value for agricultural property; and 90% of actual value for commercial, industrial, and railroad property. No adjustment was ordered for utility property because its assessed value did not increase enough to qualify for reduction. Utility property is limited to an 8% annual growth. The Legislature's intent has been to limit the growth of statewide taxable valuations for the specific classes of property to 3% annually. Political subdivisions whose taxable valuations are thus reduced or are unusually low in growth are allowed to appeal the valuations to the State Appeal Board, in order to continue to fund present services. PROPERTY VALUATIONS (1/1/2014 Valuation Taxes payable July 1, 2015 to June 30, 2016) Taxable Value 100% Actual Value (With Rollback) Residential $3,603,743,609 $2,008,493,138 Commercial 1,129,397,979 1,016,458,199 Industrial 74,399,739 66,959,765 Railroads 4,015,580 3,614,022 Utilities w/o Gas & Electric 8.239,789 8,239,789 Gross valuation $4,819,796,696 $3,103,764,913 Less military exemption (2,828,002) (2.828.002) Net valuation $4,816,968,694 $3,100,936,911 TIF increment (used to compute debt service levies and constitutional debt limit) $42,307,287 $33,331,128 Taxed separately Ag. Land & Buildings $3,553,520 $1,588,496 Gas & Electric Utilities $87,728,294 $46,785,426 2014 GROSS TAXABLE VALUATION BY CLASS OF PROPERTY) Taxable Valuation Percent Total Residential $2,008,493,138 63.75% Commercial, Industrial and Utility 1,091,657,753 34.65% Gas & Electric Utilities 46,785,426 1.48% Railroads 3.614.022 0.12% Total Gross Taxable Valuation $3,150,550,339 100.00% 1) Excludes Taxable TIF Increment and Ag. Land & Buildings TREND OF VALUATIONS Assessment Payable Taxable Valuation Taxable TIF Year Fiscal Year 100% Actual Valuation (With Rollback) Increment 2011 2012-13 $4,615,527,744 $2,946,951,863 $11,712,327 2012 2013-14 4,668,318,992 3,020,306,824 14,113,908 2013 2014-15 4,826,647,177 3,114,066,554 21,131,574 2014 2015-16 4,950,557,795 3,147,722,337 33,331,128 2015 1) 2016-17 5,350,243,693 3,347,028,340 72,650,838 1) The City's 1/1/2015 valuations are now available from the State of Iowa and became effective July 1, 2016 The 100% Actual Valuations, before rollback and after the reduction of military exemption, include Ag. Land & Buildings, Taxable TIF Increment and Gas & Electric Utilities. The Taxable Valuations, with the rollback and after the reduction of military exemption, include Gas & Electric Utilities and exclude Ag. Land & Buildings and Taxable TIF Increment. Iowa cities certify operating levies against Taxable Valuation excluding Taxable TIF Increment and debt service levies are certified against Taxable Valuation including the Taxable TIF Increment. With the exception of the electric and natural gas providers (which is subject to an excise tax in accordance with Iowa Code chapter 437A), the City's mill levy is uniformly applicable to all of the properties included in the table, and thus taxes expected to be received by the City from such taxpayers will be in proportion to the taxable valuations of the properties. LARGER TAXPAYERS Set forth in the following table are the persons or entities which represent larger taxpayers within the boundaries of the City, as provided by the Johnson County Auditor's Office. No independent investigation has been made of and no representation is made herein as to the financial condition of any of the taxpayers listed below or that such taxpayers will continue to maintain their status as major taxpayers in the City. With the exception of the electric and natural gas provider noted below (which is subject to an excise tax in accordance with Iowa Code chapter 437A), the City's mill levy is uniformly applicable to all of the properties included in the table, and thus taxes expected to be received by the City from such taxpayers will be in proportion to the taxable valuations of the properties. The total tax bill for each of the properties is dependent upon the mill levies of the other taxing entities which overlap the properties. 1/1/2014 Taxpayer') Mid American Energy Co. American College Testing, Inc. Ann S. Gerdin Revocable Trust Dealer Properties IC LLC Procter & Gamble Hair Care LLC Alpla, Inc. CCAL 100 Hawk Ridge Drive LLC National Computer Systems Inc. Wal-Mart Real Estate Kobrin Development Company Inc. Type of Property/Business Utility Commercial Commercial Commercial Industrial Industrial Residential Commercial Commercial Commercial & Residential Taxable Valuations $44,301,833 44,150,558 21,232,925 18,675,864 15,418,708 14,615,928 13,171,260 12,428,352 12,078,378 11,711,744 1) This list represents some of the top taxpayers in the City, not necessarily the top 10 taxpayers. Source: Johnson County Auditor's Office PROPERTY TAX LEGISLATION During the 2013 legislative session, the Iowa General Assembly enacted Senate File 295 (the "Act"), which the Governor signed into law on June 12, 2013. Among other things, the Act (i) reduced the maximum annual taxable value growth percent, due to revaluation of existing residential and agricultural property, from the 4% to 3%, (ii) assigned a "rollback" (the percentage of a property's value that is subject to tax) to commercial, industrial and railroad property of 95% for the 2013 assessment year and 90% for the 2014 assessment year and all years thereafter, (iii) created a new property tax classification for multi -residential properties (mobile home parks, manufactured home communities, land -lease communities, assisted living facilities and property primarily used or intended for human habitation containing three or more separate dwelling units) ("Multi -residential Property") that began in the 2015 assessment year, and assigned a declining rollback percentage of 3.75% to such properties for each subsequent year until the 2021 assessment year (the rollback percentage for Multi -residential Properties is equal to the residential rollback percentage in the 2022 assessment year and thereafter) and (iv) exempted a specified portion of the assessed value of telecommunication properties. The Act included a standing appropriation to replace some of the tax revenues lost by local governments, including tax increment districts, resulting from the new rollback for commercial and industrial property. Prior to Fiscal Year 2017-18, the appropriation is a standing unlimited appropriation, but beginning in Fiscal Year 2017-18 the standing appropriation cannot exceed the actual Fiscal Year 2016-17 appropriation amount. The appropriation does not replace losses to local governments resulting from the Act's provisions that reduce the annual revaluation growth limit for residential and agricultural properties from 4% to 3%, the gradual transition for Multi -residential Property from the commercial rollback percentage (100% of Actual Value) to the residential rollback percentage (currently 55.7335% of Actual Valuation), or the reduction in the percentage of telecommunications property that is subject to taxation. Given the wide scope of the statutory changes, and the State of Iowa's discretion in establishing the annual replacement amount that is appropriated each year commencing in Fiscal Year 2017-18, the impact of the Act on the City's future property tax collections is uncertain and the City is unable to estimate the financial impact of the Act's provisions on the City's future operations. In Moody's Investor Service US Public Finance Weekly Credit Outlook, dated May 30, 2013, Moody's Investor Service ("Moody's") projected that local governments in the State of Iowa are likely to experience modest reductions in property tax revenues starting in Fiscal Year 2014-15 as a result of the Act, with sizeable reductions possible starting in Fiscal Year 2017-18. According to Moody's, local governments that may experience disproportionately higher revenue losses include regions that have a substantial commercial base, a large share of Multi -residential Property (such as college towns), or significant amounts of telecommunications property. Notwithstanding any decrease in property tax revenues that may result from the Act, Iowa Code section 76.2 provides that 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 the auditors of the counties in which the political subdivision is located; and the filing shall make it a duty of the auditors 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." From time to time, other legislative proposals may be considered by the Iowa General Assembly that would, if enacted, alter or amend one or more of the property tax matters described in this Official Statement. It cannot be predicted whether or in what forms any of such proposals may be enacted, and there can be no assurance that such proposals will not apply to valuation, assessment or levy procedures for the levy of taxes by the City. GENERAL FUND BUDGET The table below summarizes fiscal year actuals for years ending June 30, 2015 and June 30, 2016, and the 2017 Amended Budget as estimated at December 16, 2016. Revenues & Other Financing Sources 2015 2016 2017 Actual Actual Revised Property Taxes $ 29,421,531 $ 29,796,656 $ 31,739,199 Other City Taxes 2,487,767 2,431,882 2,430,717 Licenses And Permits 1,805,901 3,056,051 2,450,882 Use Of Money And Property 800,227 689,835 706,672 Intergovernmental 3,519,060 3,803,459 3,664,921 Charges For Fees And Services 1,509,496 1,607,320 1,358,601 Miscellaneous 4,446,754 4,603,845 5,697,432 Other Financial Sources 2,762,834 2,678,802 2,007,295 Sub -total Revenues & Other Financing 46,753,570 48,667,850 50,055,719 Sources (excluding Transfers In): Transfers In Total Revenues, Other Financing Sources, & Transfers In 10,642,456 12,468,366 10,560,745 $ 57,396,026 $ 61,136,216 $ 60,616,464 Expenditures & Transfers Out 2015 2016 2017 Actual Actual Revised Personnel $ 34,881,306 $ 35,579,630 $ 39,093,574 Services 8,534,211 8,290,221 10,263,306 Supplies 1,272,811 1,515,890 1,601,411 Capital Outlay 3,477,841 1,970,355 3,368,705 Debt Service 1,154,500 1,842,500 900,000 Contingency - - 184,519 Sub -total Expenditures: 49,320,669 49,198,596 55,411,515 Transfers Out 6,823,285 12,842,428 25,643,570 Total Expenditures & $ 56,143,954 $ 62,041,024 $ 81,055,085 Transfers Out 7 CITY INDEBTEDNESS 17�3i�hd�� Article XI, Section 3 of the State of Iowa Constitution limits the amount of debt outstanding at any time of any county, municipality or other political subdivision to no more than 5% of the actual value of all taxable property within the corporate limits, as taken from the last state and county tax list. The debt limit for the City, based on its 2014 valuation currently applicable to the fiscal year 2015-16 is as follows: 2013 Actual Valuation of Property $4,950,557,795 Legal Debt Limit of 5% 0.05 Legal Debt Limit $247,527,890 Less: Total G.O. Debt (55,350,000) Less: TIF Revenue Debt (2,525,000) Less: Letters of Credit (UniverCity) (582,000) Less: Other legal indebtedness (TIF rebates) (13,506,152) Net Debt Limit $175,564,738 DIRECT DEBT General Obligation Debt Supported by Property Taxes and Tax Increment Principal Date Original Final Outstanding of Issue Amount Purpose Maturitv As of 6/30/16 10/08B $17,005,000 Refunding 6/18 $3,055,000') 6/09C 6,685,000 City Improvements 6/19 2,210,000 8/10B 7,420,000 City Improvements 6/20 3,115,000 6/11A 7,925,000 City Improvements 6/21 3,940,000 6/11C 10,930,000 Refunding 6/21 6,235,000 6/12A 9,070,000 City Improvements 6/22 5,680,000 7/13A 7,230,000 City Improvements 6/23 5,750,000 6/14 11,390,000 City Improvements 6/24 8,575,000 6/15 7,785,000 City Improvements 6/25 7,090,000 6/16A 8,795,000 City Improvements 6/26 8,795,000 6/168 610,000 City Improvements 6/17 610,000 Subtotal $55,055,000 1) City called Series 2008B with cash on August 1, 2016. General Obligation Debt Supported by Enterprise Funds Principal Date Original Final Outstanding of Issue Amount Purpose Maturitv As of 6/30/16 6/14 $590,000 City Improvements 6/17 $295,000 Total General Obligation Debt Subject to Debt Limit: $55,350,000 Annual Fiscal Year General Obligation Debt Service Payments Total Outstandin Total $55,350,000 $60,522,335 OTHER DEBT The City has revenue debt payable solely from the net revenues of the City's Urban Renewal Areas as follows: Date Original of Issue Amount Purpose Principal Final Outstanding Maturity As of 6/30/16 11/12D $2,655,000 Developer Grant 6/32 $2,525,000 The City has revenue debt payable solely from the net revenues of the Municipal Parking System as follows: Principal Date Original Final Outstanding of Issue Amount Purpose Maturity As of 6/30/16 11/09F $9,110,000 Parking 4/17 15,400,000 Parking Total 7/17 $01) 6/37 15,400.000 2) $15,400,000 1) The City has defeased $6,045,000 of the Series 2009F Bonds maturing 2016 through 2024. Funds are being held in escrow until the July 1, 2017 call date. 2) The City has entered into a Lease Purchase Agreement in connection with the construction of a parking garage anticipated to be completed in April 2017. The commencement date of the Lease Purchase Agreement is anticipated in April 2017. Principal & Fiscal Year Principal Interest 2016-17 $10,425,000 $11,774,450 2017-18 9,340,000 10,455,481 2018-19 7,985,000 8,857,031 2019-20 7,410,000 8,073,144 2020-21 6,150,000 6,609,779 2021-22 4,585,000 4,888,400 2022-23 3,665,000 3,873,900 2023-24 2,865,000 2,985,950 2024-25 1,890,000 1,948,500 2025-26 1.035.000 1.055.700 Total $55,350,000 $60,522,335 OTHER DEBT The City has revenue debt payable solely from the net revenues of the City's Urban Renewal Areas as follows: Date Original of Issue Amount Purpose Principal Final Outstanding Maturity As of 6/30/16 11/12D $2,655,000 Developer Grant 6/32 $2,525,000 The City has revenue debt payable solely from the net revenues of the Municipal Parking System as follows: Principal Date Original Final Outstanding of Issue Amount Purpose Maturity As of 6/30/16 11/09F $9,110,000 Parking 4/17 15,400,000 Parking Total 7/17 $01) 6/37 15,400.000 2) $15,400,000 1) The City has defeased $6,045,000 of the Series 2009F Bonds maturing 2016 through 2024. Funds are being held in escrow until the July 1, 2017 call date. 2) The City has entered into a Lease Purchase Agreement in connection with the construction of a parking garage anticipated to be completed in April 2017. The commencement date of the Lease Purchase Agreement is anticipated in April 2017. The City has revenue debt payable solely from the net revenues of the Municipal Water System as follows: 1) The 2017 through 2024 maturities in the amount of $4,085,000 were current refunded by the Water Revenue Refunding Capital Loan Notes, Series 2016D on July 1, 2016. The City has revenue debt payable solely from the net revenues of the Municipal Sewer System as follows: Percent Taxable Valuation') In City Principal Date Original 57.23%3) Final Outstanding of Issue Amount Purpose Maturitv As of 6/30/16 10/08D $7,115,000 Water Refunding 7/16 $425,00011 5/09B 9,750,000 Water Refunding 7/25 6,870,000 6/12C 4,950,000 Water Refunding 7/22 3,565,000 6/16D 3,650,000 Water Refunding 7/24 3,650,000 Total $14,510,000 1) The 2017 through 2024 maturities in the amount of $4,085,000 were current refunded by the Water Revenue Refunding Capital Loan Notes, Series 2016D on July 1, 2016. The City has revenue debt payable solely from the net revenues of the Municipal Sewer System as follows: 1) The 2017 through 2022 maturities in the amount of $10,515,000 were current refunded by the Sewer Revenue Refunding Capital Loan Notes, Series 2016C on July 1, 2016. INDIRECT GENERAL OBLIGATION DEBT Taxing District Johnson County Iowa City CSD Clear Creek-Amana CSD Kirkwood Comm. College 1/1/2015 Percent Taxable Valuation') In City Principal Date Original 57.23%3) Final Outstanding of Issue Amount Purpose Maturitv As of 6/30/16 10/08C $24,280,000 Sewer Refunding 7/16 $1,945,000'1 5109A 8,660,000 Sewer Refunding 7/25 6,275,000 4/10A 15,080,000 Sewer Refunding 7/20 6,330,000 6/16C 9,360,000 Sewer Refunding 7/21 9,360,000 Total $23,910,000 1) The 2017 through 2022 maturities in the amount of $10,515,000 were current refunded by the Sewer Revenue Refunding Capital Loan Notes, Series 2016C on July 1, 2016. INDIRECT GENERAL OBLIGATION DEBT Taxing District Johnson County Iowa City CSD Clear Creek-Amana CSD Kirkwood Comm. College 1/1/2015 Percent Taxable Valuation') In City $8,042,302,645 42.54%3) 5,978,490,538 57.23%3) 129,160,108 0.04% 24,144,197,855 14.17%3) City's share of total overlapping debt 1) Taxable Valuation excludes military exemption and includes Ag. Land & Buildings, Taxable TIF Increment and all Utilities. 2) Includes general obligation bonds, PPEL notes, certificates of participation and newjobs training certificates. 3) Includes city -exempt Ag TIF Increment valuation in the amount of $15,839. 10 City's G.O. Deb tzl Proportionate Share $8,490,000 $3,611,646 14,150,000 8,098,045 61,465,000 24,586 129,981,492 18.418.377 $30,152,654 1) Taxable Valuation excludes military exemption and includes Ag. Land & Buildings, Taxable TIF Increment and all Utilities. 2) Includes general obligation bonds, PPEL notes, certificates of participation and newjobs training certificates. 3) Includes city -exempt Ag TIF Increment valuation in the amount of $15,839. 10 DEBT RATIOS G.O. Debt Total General Obligation Debt $55,350,000 Less G.O. Debt Service Paid by Enterprise Funds3l (295,000) Net G.O. Debt Paid by Taxes and Tax Increment $55,055,000 TIF Revenue Debt $2,525,000 City's share of total overlapping debt $30,152,654 Debt/Actual Market Value Debt/67,862 ($5,350.243,693)1) PopulationZl 1.03% $815.63 1.03% $811.28 0.05% $37.21 0.56% $444.32 1) Based on the City's 1/1/2015 100% Actual Valuation; includes Ag Land, Ag Buildings, all Utilities and TIF Increment. 2) Population based on the City's 2010 U.S. Census. 3) G.O. debt abated by Water Revenues. TAX RATES Johnson County City of Iowa City Iowa City CSD Clear Creek-Amana CSD (Clear Creek) Kirkwood Comm. College City Assessor County Ag. Extension State of Iowa Total Tax Rate - City Resident: FY2011-12 FY2012-13 FY2013-14 FY2014-15FY2015-16 $/$1.000 / 1 000 $/$1.000 $1$1.000 $/$1.000 6.98984 6.74909 6.73712 6.74168 6.90337 17.84150 17.26864 16.80522 16.70520 16.65096 14.59055 14.07327 13.68792 13.69999 13.86773 15.54876 15.31063 15.31055 15.06516 15.62084 0.99870 1.07888 1.06473 1.05754 1.06125 0.24632 0.24453 0.25873 0.23866 0.24325 0.08358 0.08146 0.08160 0.08119 0.08129 0.00320 0.00320 0.00330 0.00330 0.00330 Iowa City CSD 40.75369 39.49917 38.63862 38.52756 38.81115 Clear Creek-Amana CSD (Clear Creek) 41.71190 40.73653 40.26125 39.89273 40.56426 LEVY LIMITS A city's general fund tax levy is limited to $8.10 per $1,000 of taxable value, with provision for an additional $0.27 per $1,000 levy for an emergency fund which can be used for general fund purposes (Code of Iowa, Chapter 384, Division 1). Cities may exceed the $8.10 limitation upon authorization by a special levy election. Further, there are limited special purpose levies which may be certified outside of the above described levy limits (Code of Iowa, Section 384.12). The amount of the City general fund levy subject to the $8.10 limitation is $8.10 for Fiscal Year 2015-16. The City does levy costs for operation and maintenance of publicly owned Transit, tort liability and other insurance, support of the public library, police and fire retirement, FICA and IPERS and other employee benefits expenses in addition to the $8.10 general fund limit as authorized by law. In addition, the City has not established an emergency fund levy for Fiscal Year 2015-16. Debt service levies are not limited. CITY FUNDS ON HAND (Cash and Investments as of June 30, 2016, in thousands) City Operating Funds $146,429 City Restricted Funds 69.758 Total $216,187 11 CITY OF IOWA CITY, IOWA LEVIES AND TAX 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 Tar Collections in excess of the Total Tax Levied. I Delinquent tax collection is presented by collection year, rather than levy year, because information is not available from Johnson County Treasurer by levy year. 12 Percent of Total as Collection Total Tax Current Tax Levy Delinquent Tax Total Tax a Percent of Year Levied. Collections Collected Collections[ Collections Levy 2007 39,094 38,947 99.6 13 38,960 99.7 2008 39,973 39,768 99.5 70 39,838 99.7 2009 43,168 43,118 99.9 18 43,136 99.9 2010 45,393 45,318 99.8 17 45,335 99.9 2011 47,789 47,826 100.1 8 47,834 100.1 2012 49,595 49,543 99.9 1 49,544 99.9 2013 50,407 50,139 99.5 3 50,142 99.5 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 - 52,074 100.1 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 Tar Collections in excess of the Total Tax Levied. I Delinquent tax collection is presented by collection year, rather than levy year, because information is not available from Johnson County Treasurer by levy year. 12 Finance and Operating Report For the City of Iowa City, Iowa Pursuant to Securities and Exchange Commission Rule 15c2-12 Through the Fiscal Year Ended June 30, 2016 Financial and Operating Data Water System Revenue Sewer System Revenue Parking System Revenue and Urban Renewal Area Revenue To the extent not included in the City's Financial Statements, all information the City of Iowa City has agreed to provide in its annual reports, as it relates to its outstanding Water System Revenue, Sewer System Revenue, and Parking System Revenue debt, is included in this report. Attached is additional Water System, Sewer System, and Parking System information as required to be submitted under previous disclosure undertakings of the City. 13 Revenue Bond Activity Bond debt activity for business -type activities for the year ended June 30, 2016, was as follows: As of June 30, 2016, the following unmatured revenue bond issues are outstanding: Wastewater Taxable Urban Treatment Water Renewal Original issue amount$ 57,380,000 $ 25,465,000 $ 2,655,000 Interest rates 3.0% to 5.0% 1.5% to 5.0% 1.0% to 3.9% Annual maturities $ 505,000 to $ 380,000 to $ 130,000 to $ 2,010,000 $ 835,000 $ 200,000 Amount outstanding $ 23,910,000 $14,510,000 $ 2,525,000 The City of Iowa City defeased the remaining $6,605,000 of its 2009 parking revenue bonds on November 12, 2014 by prepaying all remaining outstanding bonds and interest from cash on hand. The total defeased outstanding as of June 30, 2016 is $6,045,000. The total amount of interest that was paid was $574,186. Liabilities for the defeased bonds are not included in the City's financial statements. On June 16, 2016, the City issued $9,360,000 of sewer revenue bonds for a current refunding of $10,515,000 of sewer revenue bonds on July 1, 2016. As a result, the sewer revenue bonds from that issue are considered to be defeased and the liability has been removed from the financial statements. The refunding was undertaken to reduce total future debt service payments. The result of the transaction is a reduction of $1,679,360 in future debt service payments and an economic gain of $1,133,595. On June 16, 2016, the City issued $3,650,000 of water revenue bonds for a current refunding of $4,085,000 of water revenue bonds on July 1, 2016. As a result, the water revenue bonds from that issue are considered to be defeased and the liability has been removed from the financial statements. The refunding was undertaken to reduce total future debt service payments. The result of the transaction is a reduction of $640,265 in future debt service payments and an economic gain of $485,963. 14 Due Within July 1, 2015 Issues Retirements June 30, 2016 One Year Business -type activities: General obligation bonds $ 590,000 $ $ 295,000 $ 295,000 $ 295,000 Less: Unamortized Discounts - - - - - Total general obligation bonds 590,000 295,000 295,000 295,000 Revenue bonds 44,950,000 13,010,000 19,540,000 38,420,000 5,090,000 Plus: Unamortized Premium 616,903 1,144,715 229,957 1,531,661 229,957 Total revenue bonds 45,566,903 14,154,715 19,769,957 39,951,661 5,319,957 $ 46,156,903 $ 14,154,715 $ 20,064,957 $ 40,246,661 $ 5,614,957 As of June 30, 2016, the following unmatured revenue bond issues are outstanding: Wastewater Taxable Urban Treatment Water Renewal Original issue amount$ 57,380,000 $ 25,465,000 $ 2,655,000 Interest rates 3.0% to 5.0% 1.5% to 5.0% 1.0% to 3.9% Annual maturities $ 505,000 to $ 380,000 to $ 130,000 to $ 2,010,000 $ 835,000 $ 200,000 Amount outstanding $ 23,910,000 $14,510,000 $ 2,525,000 The City of Iowa City defeased the remaining $6,605,000 of its 2009 parking revenue bonds on November 12, 2014 by prepaying all remaining outstanding bonds and interest from cash on hand. The total defeased outstanding as of June 30, 2016 is $6,045,000. The total amount of interest that was paid was $574,186. Liabilities for the defeased bonds are not included in the City's financial statements. On June 16, 2016, the City issued $9,360,000 of sewer revenue bonds for a current refunding of $10,515,000 of sewer revenue bonds on July 1, 2016. As a result, the sewer revenue bonds from that issue are considered to be defeased and the liability has been removed from the financial statements. The refunding was undertaken to reduce total future debt service payments. The result of the transaction is a reduction of $1,679,360 in future debt service payments and an economic gain of $1,133,595. On June 16, 2016, the City issued $3,650,000 of water revenue bonds for a current refunding of $4,085,000 of water revenue bonds on July 1, 2016. As a result, the water revenue bonds from that issue are considered to be defeased and the liability has been removed from the financial statements. The refunding was undertaken to reduce total future debt service payments. The result of the transaction is a reduction of $640,265 in future debt service payments and an economic gain of $485,963. 14 Revenue bond debt service requirements to maturity are as follows: Fiscal Year Ending Governmental Activities Business -type Activities June 30 Principal Interest Principal Interest 2017 $ 130,000 $ 74,035 $ 5,090,000 $ 1,503,102 2018 135,000 72,345 5,035,000 1,214,990 2019 135,000 70,185 5,250,000 1,016,303 2020 140,000 67,485 5,460,000 806,453 2021 140,000 64,545 5,360,000 592,246 2022-2026 760,000 267,955 12,225,000 1,050,416 2027-2031 885,000 139,280 - 2032-2036 200,000 7,800 Total $ 2,525,000 $ 763,630 $ 38,420,000 $ 6,183,510 The revenue bond ordinances required that wastewater treatment, 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 Amount (a) Revenue Bond and Interest Amount sufficient to pay current bond and interest maturities. Sinking Reserve (b) Revenue Debt Service Amount required to be deposited in the Revenue Bond and Reserve Interest Reserve until the reserve fund equals: Water Revenue and Taxable Urban Renewal Revenue bonds — maximum debt service due on the bonds in any succeeding fiscal year. Wastewater Revenue bonds — 125% of the average principal and interest payments over the life of all the Wastewater Revenue bonds. (c) Improvement Reserve $20,000 per month until the reserve balance equals or exceeds $2,000,000 for Wastewater Revenue bonds and $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, 2016, the Wastewater Treatment Fund had net revenue of $6,168,000 and the amount of principal and interest due was $4,695,000. In fiscal year ended June 30, 2016, the Water Fund had net revenues of $3,936,000 and the amount of principal and interest due was $2,294,000. 16 Summary of Bond Issues General obligation and revenue bonds payable at June 30, 2016, are comprised of the following issues: Date of Amount Interest Issue Issued Rates General Obligation Bonds: Refinded Multi -Purpose (1) Oct. 2008 Multi -Purpose June 2009 Multi -Purpose Aug. 2010 Multi-purpose June 2011 Refinded Muhi-Purpose and 2,210,000 Library Construction (2) June 2011 Multi -Purpose June 2012 Multi -Purpose July 2013 Refunded Muhi-Purpose (3) June 2014 Multi -Purpose June 2015 Multi-purpose June 2016 Multi-purpose June 2016 Total General Obligation Bonds Revenue Bonds: Refnded Wastewater Treatment Bonds (4) Refinded Wastewater Treatment Bonds (5) Refinded Wastewater Treatment Bonds (6) Refinded Wastewater Treatrrinnt Bonds (7) Refunded Water Bonds (8) Refunded Water Bonds (9) Refunded Water Bonds (10) Refunded Water Bonds (11) Taxable Urban Renewal Total Revenue Bonds Final Outstanding Maturity June 30, 2016 17,005,000 3.0-3.75 6/18 $ 3,055,000 6,685,000 2.5-4.0 6/19 2,210,000 7,420,000 2.0-2.75 6/20 3,115,000 7,925,000 2.0- 3.625 6/21 3,940,000 10,930,000 2.0- 3.625 6/21 6,235,000 9,070,000 2.0-2.25 6/22 5,680,000 7,230,000 1.0-2.0 6/23 5,750,000 11,980,000 2.0-3.0 6/24 8,870,000 7,785,000 2.0-2.25 6/25 7,090,000 8,795,000 2.0-3.0 6/26 8,795,000 610,000 2.0 6/17 610,000 $ 55,350,000 Date of Amount Interest Final Outstanding Issue Issued Rates Maturity June 30, 2016 Oct. 2008 May 2009 Apr. 2010 24,280,000 3.0-5.0 7/22 $ 1,945,000 8,660,000 3.5-5.0 7/25 6,275,000 15,080,000 3.0-4.0 7/20 June 2016 9,360,000 3.0-4.0 7/21 Oct. 2008 7,115,000 3.0-4.375 7/24 May 2009 9,750,000 4.0-4.5 7/25 June 2012 4,950,000 1.5-2.1 7/22 June 2016 3,650,000 1.5 - 5.0 7/24 Nov. 2012 2,655,000 1.0-3.9 6/32 6,330,000 9,360,000 425,000 6,870,000 3,565,000 3,650,000 2,525,000 40,945,000 $ 96,295,000 (1) This bond issue refunded the April 1998, March 1999, and July 2000 General Obligation Bonds. (2) This bond issue refunded the May 2002 General Obligation Bonds. (3) This bond issue is an advance refunding of portions of the September 2006 and May 2007 General Obligation Bonds. (4) This bond issue refunded the March 1996, May 1997, and January 1999 Wastewater Revenue Bonds. (5) This bond issue refunded the October 2000 Wastewater Revenue Bonds. (6) This bond issue refunded the December 2001 and April 2002 Wastewater Revenue Bonds. (7) This bond issue refunded the October 2008 Wastewater Revenue Bond. (8) This bond issue refunded the May 1999 Water Revenue Bonds. (9) This bond issue refunded the December 2000 Water Revenue Bonds. (10) This bond issue refunded the October 2002 Water Revenue Bonds. (11) This bond issue refunded the October 2008 Water Revenue Bonds. Irl CITY OF IOWA CITY, IOWA SCHEDULE OF REVENUE BOND COVERAGE Last Ten Fiscal Years (amounts expressed in thousands) Fiscal Year Net Revenue Annual Debt Servicer Ended Available for Ratio of June 30 Revenue Expenses' Debt Service Principal Interest Total Coverage Parking Revenue 2007 5,035 2,973 2,062 335 626 961 2.15 2008 4,995 2,454 2,541 355 606 961 2.64 2009 5,630 3,024 2,606 370 584 954 2.73 2010' 5,509 3,149 2,360 390 504 894 2.64 2011 5,389 2,920 2,469 420 391 811 3.04 2012 4,945 3,034 1,911 500 339 839 2.28 2013 5,122 3,549 1,573 515 324 839 1.87 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 - - - - - - - Wastewater Treatment Revenue' 2007 13,708 4,236 9,472 3,905 3,234 7,139 1.33 2008' 13,332 4,581 8,751 4,105 3,071 7,176 1.22 2009' 13,462 5,202 8,260 4,260 2,813 7,073 1.17 2010' 13,174 5,050 8,124 4,205 2,307 6,512 1.25 2011' 13,281 5,477 7,804 1,840 2,054 3,894 2.00 2012 13,175 5,663 7,512 4,615 1,693 6,308 1.19 2013 13,301 5,340 7,961 4,865 1,547 6,412 1.24 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 Water Revenues 2007 9,220 5,356 3,864 915 1,268 2,183 1.77 2008' 9,258 5,348 3,910 955 1,229 2,184 1.79 2009' 8,833 5,726 3,107 995 1,171 2,166 1.43 20106 8,336 5,153 3,183 680 1,055 1,735 1.83 2011 8,354 5,464 2,890 1,110 902 2,012 1.44 20126 8,649 5,653 2,996 1,200 861 2,061 1.45 20136 9,342 6,348 2,994 845 758 1,603 1.87 2014' 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 2,294 1.72 Notes: 'Excludes depreciation and interest. r Includes 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. ' 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. ' Refunded Revenue Bonds paid are excluded from the principal of Annual Debt Service. Parking Revenue Bonds defeased are excluded from the principal and interest of Annual Debt Service. 17 Water System The Water Division is comprised of five parts: Administration, Treatment Plant, Customer Service, Distribution, and Public Information/Education. There are a total of 32.0 (FTE) employees who work in the Water Division. This division serves about 74,200 people and has about 25,200 customer water accounts. The average daily use for fiscal year 2016 was approximately 5.46 million gallons per day (MGD). A peak flow of over 8.6 MGD was experienced during the summer of 2012. Water Sources: The primary source of water for the City is the alluvial aquifer collector wells along the Iowa River. Four collector wells can provide approximately 10.5 MGD. Additional sources include two Jordan aquifer wells which can provide 2.0 MGD; three Silurian aquifer wells which can provide 1.0 MGD; a sand pit that can provide 1.0 MGD; a river intake that can provide 3.0 MGD; for a total of approximately 16.7 MGD maximum capacity. Water Treatment Processes: The facilities include one treatment plant (constructed in 2003) located at 80 Stephen Atkins Drive. The plant is a surface water plant design that includes aeration, lime softening (coagulation/flocculation/sedimentation), and granular activated carbon filtration processes with fluoridation and free chlorination. The Grade IV Water Treatment Facility houses an operations team that performs over 230 water quality tests per day in- house and collects regulatory samples for testing at the University Hygienic Laboratory. This testing ensures that Iowa City's drinking water meets all IDNR and EPA Safe Drinking Water Act Standards. Distribution System: The water flows through approximately 273 miles of water mains and includes over 22,000 service connections. The distribution piping consists of cast iron, ductile iron and plastic main that ranges in size from 2" to 30". The treatment plant site has effective water storage capacity of 1.75 million gallons of water; in addition there are four remote ground storage reservoirs (with pumping stations) that add up to remote effective storage capacity of 6.0 million gallons of water. The water system also provides for fire protection with approximately 3,599 public and private hydrants located throughout the community. Billing and Collections: Customers are billed monthly on a combined utility statement which includes charges for sewer, water, solid waste, and curbside recycling. Under present City policy and City ordinances, utility bills are due when received but contain a delinquency date which provides 15 days for payment. If payment is not made in full within 22 days, a notice is mailed which allows 25 calendar days before service is disconnected. The City's bad debt write-offs have been less than 0.2% of gross revenues for the past three years. 18 Rates: The following rates and charges were effective July 1, 2015. Water Service Charge Minimums (includes up to the first 100 cubic feet (c.f.)) Meter Size -5% Meter Size 0% Inches Charae Inches Charge 5/8" $7.07 2" $24.41 3/4" 7.72 3" 45.11 1" 9.10 4" 78.69 1 1/2" 18.15 6" 158.33 Monthly Usage in excess of 100 cubic feet (c.f.) 101-3,000 $3.30 per 100 c.f. 3,001 and over $2.37 per 100 c.f. Single Purpose Meter Charges First 100 (c.f) Minimum Monthly Charge Usage in excess of 100 cubic feet (c.f.) $3.30 per 100 c.f. Changes in water rates over the last ten fiscal years: 2007 -5% 2008 0% 2009 0% 2010 0% 2011 0% 2012 0% 2013 0% 2014 0% 2015 5% 2016 5% Water Svstem Customers by Classification: 1) Classification FY2012 FY2013 FY2014 FY2015 3) FY2016 Residential 24,086 24,442 24,790 23,089 23,638 Commercial 1,489 1,491 1,491 1,409 1,415 Industrial 15 15 15 14 14 Other 2) 200 204 202 135 131 Total Meters 25,790 26,152 26,498 24,647 25,198 1) Meter information above represents the number of meters customers billed as of the end of the fiscal year. 2) Other meters consist of rural, schools, government, churches, and City meters. 3) Implemented a new utility billing system during Fiscal Year 2015 which consolidated customers with multiple meters. 19 Financial Information: The following table summarizes the results of operations for the Water System for the fiscal years ended June 30, 2016, 2015, and 2014. WATER SYSTEM STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS Last Three Fiscal Years (amounts expressed in thousands) Operating Revenues: Charges for services Miscellaneous Total op emting revenues Operating Expenses: Personal services Commodities Services and charges Depreciation Total operating expenses Operating income Nonoperating Revenues (Expenses): Gain (Loss) on disposal of capital assets Op erating Grants Interest income Interest expense Total nonoperating revenues (expenses) Inwme before capital contributions and transfers Capital contributions Transfers in Transfers out Change in net assets Net Position, Beginning* $ 9,134 $ 8,527 $ 8,443 17 13 16 9,151 8,540 8,459 3,115 2,495 2,692 578 1,121 1,199 1,694 2,016 1,927 5,387 5,632 5,818 2,295 2,250 2,181 7,682 7,882 7,999 1,469 658 460 8 (17) 11 2 6 172 175 154 (528) (608) (682) (348) (448) (511) 1,121 210 (51) 674 581 2,049 985 348 990 (720) (691) (117) 2,060 448 2,871 65,103 64,655 63,274 Net Position, Ending $ 67,163 $ 65,103 $ 66,145 *The 2015 beginning balance was restated from implementation of GASB 68. 20 The following table summarizes the budget and actual figures for the Water System for the fiscal year ended June 30, 2016 and the budget for the fiscal year ended June 30, 2017 on a modified accrual basis. WATER SYSTEM BUDGET AND ACTUALS (MODIFIED ACCRUAL BASIS) For the Year Ended June 30, 2016 (amounts expressed in thousands) The following table summarizes the Water System funds on hand for the fiscal years ended June 30, 2016, 2015, and 2014. WATER SYSTEM FUNDS ON HAND (CASH AND INVESTMENTS) Last Three Fiscal Years (amounts expressed in thousands) 2016 2015 2014 Operating Funds $ 8,481 $ 8,670 $ 8,939 Restricted and Designated Funds 5,026 4,964 4,801 Total Funds on Hand $ 13,507 $ 13,634 $ 13,740 21 FY17 Actual Budget Percentage Budget Charges for services $ 9,133 $ 9,265 98.58% $ 8,926 Interest income 172 130 132.31% 171 Miscellaneous 26 17 152.94% 15 Bond sales 4,017 0.00% Total Receipts $ 13,348 $ 9,412 141.82% $ 9,112 Personal services $ 2,497 $ 2,752 90.73% $ 2,777 Commodities 570 701 81.31% 661 Services and charges 2,389 2,606 91.67% 2,624 Capital outlay 468 2,081 22.49% 1,475 Transfer to capital project funds 706 846 83.45% 150 Debt service payments 2,335 2,294 101.79% 2,289 Total Disbursements $ 8,965 $ 11,280 79.48% $ 9,976 The following table summarizes the Water System funds on hand for the fiscal years ended June 30, 2016, 2015, and 2014. WATER SYSTEM FUNDS ON HAND (CASH AND INVESTMENTS) Last Three Fiscal Years (amounts expressed in thousands) 2016 2015 2014 Operating Funds $ 8,481 $ 8,670 $ 8,939 Restricted and Designated Funds 5,026 4,964 4,801 Total Funds on Hand $ 13,507 $ 13,634 $ 13,740 21 CITY OF IOWA CITY, IOWA SALES HISTORY AND TOTAL WATER CHARGES Last Ten Fiscal Years Fiscal Water Sales Water System Year Cubic Feet Sold Cbaraes 2007 261,072,632 8,414,310 2008 249,361,929 7,976,536 2009 234,804,167 7,497,903 2010 234,342,825 7,568,378 2011 236,838,370 7,661,898 2012 246,618,257 7,953,738 2013 254,616,773 8,194,467 2014 239,790,719 7,778,364 2015 240,423,612 8,161,522 2016 255,524,943 8,758,683 Sources: City of Iowa City Revenue Department 22 Customer Name Proctor & Gamble Vets Mercy Hospital Campus Apartments Mark IV Apts Dolphin Lake Point (Rus properties Mngmt) University of Iowa (Mayflower Apartments) Iowa City Community School District CCAL 100 Hawk Ridge Drive Oaknoll Retirement Residence Pollution Control Roberts Lear Corp Seville Apartments Total Water System Charges Sources: City of Iowa City Revenue Division CITY OF IOWA CITY, IOWA PRINCIPAL WATER SYSTEM CUSTOMERS Current Year and Nine Years Ago 2007 Charges Rank Percentage $ 635,147 1 7.55 % 138,495 2 1.65 75,140 3 0.89 38,298 5 0.46 45,574 8 0.54 62,170 6 0.74 - - N/A - - N/A - - N/A - - N/A 68,315 4 0.81 54,615 7 0.65 44,200 9 0.53 35,448 10 0.42 $ 1,197,402 14.23 % $ 8,414,310 23 2016 Charges Rank Percentage S 673,690 1 7.69 % 104,250 2 1.19 64,349 3 0.73 61,112 4 0.70 53,473 5 0.61 50,139 6 0.57 46,061 7 0.53 43,465 8 0.50 39,301 9 0.45 37,955 10 0.43 - - N/A - N/A - N/A - N/A $ 1,173,795 13.40 % $ 8,758,683 Sewer System The City of Iowa City operates a municipal Sewer Utility System consisting of approximately 300 miles of sanitary sewers, 18 sanitary sewer lift stations, and a wastewater treatment plant. There are a total of 24.65 (FTE) employees who work in the Wastewater Division. This division serves about 74,200 people and has about 25,100 customers. The system has 3 significant industrial users, 2 non -categorical and 1 categorical. The average daily treatment plant flow for fiscal year 2016 was 10.48 million gallons per day (MGD). The Wastewater Plant was constructed in 1990. The plant was upgraded in 2002 and underwent another expansion in 2014. The City conducts all wastewater treatment at the Wastewater Treatment Plant and controls operations of the system remotely through supervisory control and data acquisition (SCADA) computer systems. The wastewater treatment system design has a maximum daily treatment capacity of 43.30 MGD. The Wastewater Treatment Division is currently in compliance with federal clean water standards. Billing and Collections: Customers are billed monthly on a combined utility statement which includes charges for sewer, water, solid waste, and curbside recycling. Under present City policy and City ordinances, utility bills are due when received but contain a delinquency date which provides 15 days for payment. If payment is not made in full within 22 days, a notice is mailed which allows 25 calendar days before service is disconnected. The City's bad debt write-offs have been less than 0.2% of gross revenues for the past three years. Rates: The following rates and charges were effective July 1, 2015. Sewer Service Charge Minimum (includes up to the first 100 cubic feet (c.f.)) $8.15 Monthly Usage in excess of 100 cubic feet (c.f.) $3.99 Changes in sewer rates over the last ten fiscal years: 2007 8% 2008 0% 2009 5% 2010 0% 2011 0% 2012 0% 2013 0% 2014 0% 2015 0% 2016 0% Number of Sewer System Customers: 24 Number of Sewer Fiscal Year System Customers 2012 23,529 2013 24,059 2014 24,389 2015 24,533 2016 25,085 24 Financial Information: The following table summarizes the results of operations for the Sewer System for the fiscal years ended June 30, 2016, 2015, and 2014. SEWER SYSTEM STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS Last Three Fiscal Years (amounts expressed in thousands) Total nonop erating revenues(expenses) (606) (834) (11,084) Income before capital contributions and transfers Capital contributions Transfers in Transfers out Change in net assets 757 410 (8,194) 3,839 1,370 7,422 195 239 26 (522) (190) (254) 4,269 1,829 (1,000) Net Position, Beginning* 130,783 128,954 131,278 Net Position, Ending $ 135,052 $ 130,783 $ 130,278 *The 2015 beginning balance was restated from implementation of GASB 68. 25 2016 2015 2014 Operating Revenues: Charges for services $ 12,266 $ 12,189 $ 12,559 Miscellaneous 94 126 75 Total op erating revenues 12,360 12,315 12,634 Operating Expenses: Personal services 2,808 2,136 2,001 Commodities 1,421 1,473 1,006 Services and charges 2,284 2,965 2,701 6,513 6,574 5,708 Depreciation 4,484 4,497 4,036 Total operating expenses 10,997 11,071 9,744 Operatingincome 1,363 1,244 2,890 Nonoperating Revenues (Expenses): Gain (loss) on disposal of capital assets - 1 (10,062) Opemtinggmnts - 21 62 Interest income 321 305 200 Interest expense 927 (1,161) 1,284 Total nonop erating revenues(expenses) (606) (834) (11,084) Income before capital contributions and transfers Capital contributions Transfers in Transfers out Change in net assets 757 410 (8,194) 3,839 1,370 7,422 195 239 26 (522) (190) (254) 4,269 1,829 (1,000) Net Position, Beginning* 130,783 128,954 131,278 Net Position, Ending $ 135,052 $ 130,783 $ 130,278 *The 2015 beginning balance was restated from implementation of GASB 68. 25 The following table summarizes the budget and actual figures for the Sewer System for the fiscal year ended June 30, 2016 and the budget for the fiscal year ended June 30, 2017 on a modified accrual basis. SEWER SYSTEM BUDGET AND ACTUALS (MODIFIED ACCRUAL BASIS) For the Year Ended June 30, 2016 (attmunts expressed in thousands) The following table summarizes the Sewer System funds on hand for the fiscal years ended June 30, 2016, 2015, and 2014. SEWER SYSTEM FUNDS ON HAND (CASH AND INVESTMENTS) Last Three Fiscal Yeats (amounts expressed in thousands) 2016 2015 2014 Operating Funds $ 18,210 $ 16,643 $ 17,417 Restricted and Designated Funds 9,460 9,861 9,975 Total Funds on Hand $ 27,670 $ 26,504 $ 27,392 26 FY17 Actual Budget Percentage Budget Charges for services $ 12,266 $ 12,559 97.67% $ 12,204 Interest income 321 331 96.98% 291 Miscellaneous 94 75 125.33% 94 Grants 1,163 366 317.76% 391 Bond sales 10,101 0.00% 2,025 Total Receipts $ 23,945 $ 13,331 179.62% $ 15,005 Personal services $ 2,194 $ 2,240 97.95% $ 2,265 Commodities 812 625 129.92% 701 Services and charges 3,113 3,149 98.86% 3,049 Capital outlay 1,733 7,679 22.57% 1,060 Transfer to capital project funds 500 500 100.00% 2,000 Debt service payments 4,752 4,695 101.21% 4,660 Total Disbursements $ 13,104 $ 18,888 69.38% $ 13,735 The following table summarizes the Sewer System funds on hand for the fiscal years ended June 30, 2016, 2015, and 2014. SEWER SYSTEM FUNDS ON HAND (CASH AND INVESTMENTS) Last Three Fiscal Yeats (amounts expressed in thousands) 2016 2015 2014 Operating Funds $ 18,210 $ 16,643 $ 17,417 Restricted and Designated Funds 9,460 9,861 9,975 Total Funds on Hand $ 27,670 $ 26,504 $ 27,392 26 CITY OF IOWA CITY, IOWA SALES HISTORY AND TOTAL SEWER CHARGES Last Ten Fiscal Years Fiscal Sewer Sales Sewer System Year Cubic Feet Sold Charges 2007 315,199,203 11,084,369 2008 285,492,596 12,221,769 2009 276,455,246 12,499,949 2010 265,375,857 12,541,905 2011 280,303,237 12,748,695 2012 282,134,840 12,784,321 2013 285,472,392 12,883,641 2014 269,494,125 12,382,031 2015 266,830,947 12,278,153 2016 270,547,701 12,022,203 Sources: City of Iowa City Revenue Department 27 CITY OF IOWA CITY, IOWA PRINCIPAL SEWER SYSTEM CUSTOMERS Current Year and Nine Years Ago Total Sewer System Charges Sources: City of Iowa City Revenue Department $ 11,084,369 28 $ 12,022,203 2007 2016 Customer Name Chi Rank Percentaee Charees Rank Pcrcentaee University of laws $ 2,173,296 1 19.61 % $ 1,900,317 1 15.81 % Proctor & Gamble 1,237,851 2 11.17 893,069 2 7.43 Iowa City Landfill 57,572 10 0.52 219,432 3 1.83 Vets Hosiptal 193,077 3 1.74 119,193 4 0.99 Mercy Hospital 124,590 5 1.12 102,693 5 0.85 Dolphin Lake Point (Rus Properties Mngmt) 102,653 6 0.93 76,609 6 0.64 University of Iowa Mayflower 68,318 8 0.62 73,827 7 0.61 Campus Apartments 90,091 7 0.81 72,228 8 0.60 CCAL 100 Hawk Ridge Drive - - N/A 68,909 9 0.57 Mark N Apts - - N/A 58,512 10 0.49 Roberts Dairy 130,549 4 1.18 - - N/A Sheraton Hotel 60,021 9 0.54 - N/A $ 4,238,018 38.23 % $ 3,584,789 29.82 % Total Sewer System Charges Sources: City of Iowa City Revenue Department $ 11,084,369 28 $ 12,022,203 Parking System The Parking System currently consists of approximately 4,031 parking spaces located at various parking facilities in the central business district of the City. The Parking Division of the Transportation Services Department oversees the operation of parking garages, parking lots, and on -street (metered) parking. Parking Division enforces parking regulation in the central business district, while the Police Department enforces parking regulations in residential areas. Recognizing that there is a high demand for parking in downtown Iowa City, Parking Services promotes turnover of on -street metered parking spaces in the core of the downtown. Customers with longer-term needs are encouraged to use the garages or on streets in outlying areas. There are a total of 23.13 (FTE) employees who work in the Parking Division. Parking System Utilization, Demand and Other Considerations: The City tracks Parking System utilization by the hour in each of the cashiered facilities. During peak hours, the occupancy rate regularly runs between 85% to 98% depending on the time of year and the time of day. Peak hours for the Parking System are 10:00 am through 3:00 pm with high occupancy rates regularly maintained through 5:30 pm daily. In addition to hourly parking, the Parking System offers monthly permit parking. The Parking System currently has 1,360 permit holders. The largest customer for the monthly permit parking is the University of Iowa with 615 permits. There are currently over 1,100 people on the Parking System's waiting lists for monthly permit parking. In addition to monthly and permit parking, the Parking System has parking space contracts with the Sheraton Hotel in the amount of $8,000.00 per month and with the Hotel Vetro in the amount of $2,000.00 per month. The City regularly evaluates parking demand. As development has continued to move south of Burlington Street and the central business district, the need for additional spaces in this area has increased. The Applied Real Estate Analysis ("AREA"), in conjunction with Desman Associates, estimates that there is demand for 600 additional parking spaces in downtown Iowa City. A recent update of demand based on upcoming developments shows a need of 650 additional spaces, an increase of 50 from the previous study. The underlying economic growth and employment base of the City continues to contribute to increased demand. The Harrison Street Parking Facility located on the 100 block of East Harrison Street is scheduled to open April 2017. This facility will have 600 spaces for permit and visitor parking. Parking System Rates and Charges: Rates for the Parking System are set by the City Council. Parking System rates are reviewed annually. The rates vary by facility and the hourly and monthly rates and charges as approved by the City Council are listed below by facility. These rates include the most recent hourly rate adjustments that were approved by the City Council on June 4, 2013 and became effective July 1, 2013 and the monthly permit rate adjustments that were approved by the City Council on June 2, 2009 and became effective July 1, 2009. 29 Parkins Facilities: The Parking System consists of 2 cashiered garages and 2 unattended garages, as well as, various parking lots and on -street metered parking in the Central Business District. The City completes regular visual inspections of the parking garages to evaluate their current appearance and general condition. The garages are visually inspected for the condition of the main structural elements (columns, girders, beams), parking decks, expansion and control joints, and their coating systems. Based on the most recent inspections, all of the Parking System's facilities are in excellent condition. All garages will continue to receive routine inspections and maintenance. A description of each parking facility, their locations, access, the number of spaces, monthly permits, and current rates are as follows: Capitol Street Garage Constructed 1980 Address 220 S. Capitol Street Description Located on a parcel confined by Burlington Street to the south, Capitol Street to the west, Clinton Street to the east and the Old Capitol Town Center to the north. Access This is a cashiered facility with two entry lanes off of Clinton Street; two entry lanes off of Capitol Street; and four exit lanes onto Capitol Street. Spaces 875 Monthly Permits 220 Rates Hourly $1.00 per hour, with first hour free Monthly $80.00 per month Changes in Capitol Street Garage rates over the last ten fiscal years '2014 Hourly Rate increase from $0.75 to $1.00 but the first hour free also started in 2014 30 Hourly Monthly 2007 25% 7% 2008 0% 0% 2009 0% 0% 2010 0% 7% 2011 0% 0% 2012 0% 0% 2013 0% 0% 2014` 33% 0% 2015 0% 0% 2016 0% 0% '2014 Hourly Rate increase from $0.75 to $1.00 but the first hour free also started in 2014 30 Dubuque Street Garage Constructed 1980 Address 220 S. Dubuque Street Description Located on a parcel confined by Burlington Street to the south, Dubuque 2008 Street to the west, Linn Street to the east and the Sheraton Hotel to the 0% north. Access This is a cashiered facility with two entry lanes off of Dubuque Street; one 2010 entry lanes off of Linn Street; and two exit lanes onto Dubuque Street. Spaces 625 Monthly Permits 310 Rates Hourly $1.00 per hour, with first hour free 0% Monthly $80.00 per month Changes in Dubuque Street Garage rates over the last ten fiscal years: *2014 Hourly Rate increase from $0.75 to $1.00 but the first hour free also started in 2014 Chauncey Swan Garage Constructed 1993 Address 415 E. Washington Street Description Located on a parcel confined by College Street to the south, Van Buren Street to the east, Gilbert Street to the west and Washington Street to the north. Access This is an automated facility with one entry/exit lane off of College Street; one entry/exit lane off of Washington Street; and one entry/exit lane through the Recreation Center parking lot onto Burlington Street. Spaces 475 Monthly Permits 380 Rates Hourly $0.75 per hour Monthly $80.00 per month Changes in Chauncey Swan Garage rates over the last ten fiscal years: Hourly Monthly 2007 25% 8% 2008 0% 0% 2009 0% 0% 2010 0% 23% 2011 0% 0% 2012 0% 0% 2013 0% 0% 2014* 33% 0% 2015 0% 0% 2016 0% 0% *2014 Hourly Rate increase from $0.75 to $1.00 but the first hour free also started in 2014 Chauncey Swan Garage Constructed 1993 Address 415 E. Washington Street Description Located on a parcel confined by College Street to the south, Van Buren Street to the east, Gilbert Street to the west and Washington Street to the north. Access This is an automated facility with one entry/exit lane off of College Street; one entry/exit lane off of Washington Street; and one entry/exit lane through the Recreation Center parking lot onto Burlington Street. Spaces 475 Monthly Permits 380 Rates Hourly $0.75 per hour Monthly $80.00 per month Changes in Chauncey Swan Garage rates over the last ten fiscal years: 31 Hourly Monthly 2007 20% 9% 2008 0% 0% 2009 0% 0% 2010 0% 17% 2011 0% 14% 2012 0% 0% 2013 0% 0% 2014 25% 0% 2015 0% 0% 2016 0% 0% 31 Tower Place Garage Constructed 2001 Address 335 E. Iowa Avenue Description Located on a parcel confined by Iowa City Senior Center to the south, 2008 Gilbert Street to the east, Linn Street to the west and Iowa Avenue to the 0% north. Access This is a cashiered facility with two entry lanes off of Iowa Avenue; three 2010 exit lanes onto Iowa Avenue; and secured permit -only entry and exit off of Gilbert Street. Spaces 510 Monthly Permits 210 Rates Hourly $1.00 per hour, with first hour free Monthly $80.00 per month Changes in Tower Place Garage rates over the last ten fiscal years '2014 Hourly Rate increase from $0.75 to $1.00 but the first hour free also started in 2014 On -Street Parking Meters: The City operates short-term meters (1-2 hours) concentrated in the core of the downtown. These meters are intended for shopper's use. Each parking meter dial states the maximum time. Longer term meters become more common away from the core downtown area. Meters 1,174 Rates Hourly $0.75 - $1.50 per hour based on proximity to the central business district and usage. Parking Lots: The City operates seven parking lots in the Central Business District. They consist of a mix of permit spaces and metered spaces. Spaces 371 Monthly Permits 150 Rates Hourly $0.75 - $1.50 per hour based on proximity to the central business district and usage. Monthly $60.00 per month Moped Parking: FY12 saw the implementation of a parking permit program for mopeds, scooters, and motorcycles. Spaces were designated throughout the Central Business District to accommodate the use of mopeds and scooters while also removing them from parking in bicycle racks. Spaces 150 Total Annual Permits 735 Rates Annual $90.00 per year 32 Hourly Monthly 2007 25% 7% 2008 0% 0% 2009 0% 0% 2010 0% 7% 2011 0% 0% 2012 0% 0% 2013 0% 0% 2014' 33% 0% 2015 0% 0% 2016 0% 0% '2014 Hourly Rate increase from $0.75 to $1.00 but the first hour free also started in 2014 On -Street Parking Meters: The City operates short-term meters (1-2 hours) concentrated in the core of the downtown. These meters are intended for shopper's use. Each parking meter dial states the maximum time. Longer term meters become more common away from the core downtown area. Meters 1,174 Rates Hourly $0.75 - $1.50 per hour based on proximity to the central business district and usage. Parking Lots: The City operates seven parking lots in the Central Business District. They consist of a mix of permit spaces and metered spaces. Spaces 371 Monthly Permits 150 Rates Hourly $0.75 - $1.50 per hour based on proximity to the central business district and usage. Monthly $60.00 per month Moped Parking: FY12 saw the implementation of a parking permit program for mopeds, scooters, and motorcycles. Spaces were designated throughout the Central Business District to accommodate the use of mopeds and scooters while also removing them from parking in bicycle racks. Spaces 150 Total Annual Permits 735 Rates Annual $90.00 per year 32 Financial Information: The following table summarizes the results of operations for the Parking System for the fiscal years ended June 30, 2016, 2015, and 2014. PARKING SYSTEM STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS Last Three Fiscal Years (amounts expressed in thousands) 2016 2015 2014 Operating Rewnues: Charges for services $ 5,438 S 5,502 $ 5,294 Miscellaneous 40 82 26 Total operating revenues 5,478 5,584 5,320 Operating Expenses: Personal services Commodities Services and charges Depreciation Total operating expenses Operating income Nonoperating ReNvnues (Expenses): 1,781 1,465 1,530 578 106 141 1,304 2,257 1,298 3,663 3,828 2,969 808 798 800 4,471 4,626 3,769 1,007 958 1,551 Gain (loss) on disposal of capital assets 2,450 - - Interest income 37 36 45 Interest expense - (77) (298 Total nonoperatingrevenues(expenses) 2,487 (41) (253) Income before capital contributions and transfers Transfers in Income before special item Special item: Payment to refunded bond escrow Change in net assets Net Position, Beginning* 3,494 917 1,298 19 3,494 917 766 (574) 3,494 343 1,317 17,737 17,394 16,960 Net Position, Ending $ 21,231 $ 17,737 $ 18,277 *The 2015 beginning balance was restated from implementation of GASB 68. 33 The following table summarizes the budget and actual figures for the Parking System for the fiscal year ended June 30, 2016 and the budget for the fiscal year ended June 30, 2017 on a modified accrual basis. PARKING SYSTEM BUDGET AND ACTUALS (MODIFIED ACCRUAL BASIS) Charges for services Interest income M iscellaneous Sale of assets Total Receipts Personal services Commodities Services and charges Capital outlay Interfund Loan Repayment Total Disbursements For the Year Ended June 30, 2016 (amounts expressed in thousands) FY17 Actual Budget Percentage Budget $ 5,438 $ 5,274 103.11% $ 5,512 37 28 132.14% 35 40 27 148.15% 79 5,503 5,500 100.05% $ 11,018 $ 10,829 101.75% $ 5,626 $ 1,543 $ 1,708 90.34% $ 1,612 60 37 162.16% 31 1,601 1,605 99.75% 1,739 511 1,012 50.49% 509 221 221 100.00% 228 $ 3,936 $ 4,583 85.88% $ 4,119 The following table summarizes the Parking System funds on hand for the fiscal years ended June 30, 2016, 2015, and 2014. PARKING SYSTEM FUNDS ON HAND (CASH AND INVESTMENTS) Last Three Fiscal Yeats (atnounts expressed in thousands) 2016 2015 2014 Operating Funds $ 10,944 $ 4,238 $ 5,674 Restricted and Designated Funds 387 386 1,921 Total Funds on Hand $ 11,331 $ 4,624 $ 7,595 34 Urban Renewal Area: CITY — UNIVERSITY PROJECT I The City, acting under the authority of Chapter 403 of the Code of Iowa, has established an urban renewal area designated as "City - University Project I Urban Renewal Area" (the "Urban Renewal Area") designed to implement their comprehensive plan. Description of CITY— UNIVERSITY PROJECT I Urban Renewal Plan/Area On October 2, 1969, the Iowa City Council adopted Resolution No. 2157 approving the City - University Project I Urban Renewal Plan (Project No. IA R-14) which plan has been modified and amended from time to time (said plan, as amended, is hereinafter referred to as the "Urban Renewal Plan" or "Plan"). The Urban Renewal Area is located in the heart of City's downtown. The northern edge of the original area consists of part of Washington Street with the western edge consisting of the eastern bank of the Iowa River. The southern edge consisted of a part of Court Street to the eastern edge which ran to Linn Street. In 2001, the original urban renewal area was expanded north to Iowa Ave, south to Prentiss Street and east to Gilbert Street. In 2012, the amended urban renewal area was extended south of the existing boundaries. In 2016, the amended urban renewal area was expanded to include a one block area bounded by Iowa Avenue on the north, Van Buren Street on the East, Washington Street on the South and Gilbert Street on the West. The original Urban Renewal Area is classified as a blighted area and does not have a sunset or expiration date. The 2001 amended urban renewal area has, at a minimum, a twenty year life and will expire after fiscal year 2023-24. The 2012 amended urban renewal area is classified as a blighted area and does not have a sunset or expiration date. The 2016 amended urban renewal area will expire, at a minimum, twenty years from the calendar year following the calendar year in which the City first certifies debt for the amended area. The objectives of the Plan called for the City to undertake a program for the clearance and reconstruction or rehabilitation to enhance and promote the economic development within the Urban Renewal Area. Through the implementation of the Plan, the City's overall goal is to develop and redevelop the Urban Renewal Area; to stimulate through public action and commitments, private investment which creates employment and increases to the tax base within the City. In general, tax increment revenues from an Urban Renewal Area are determined annually by multiplying the aggregate of all local taxes, excluding the portion of the overall tax rate associated with debt service, physical plant and equipment and the instructional support program levies applicable to the taxable valuation of all property within the Urban Renewal Area, by the aggregate difference ("Tax Increment Valuation Available") between the current taxable valuation and the original taxable valuation upon creation of the Urban Renewal Area. In general, the original taxable valuation reflects the valuation upon creation of the Urban Renewal Area (the "Frozen Base Valuation"). Johnson County (the "County") collects the real estate taxes and distributes the Tax Increment Revenues to the City to use for repayment of the urban renewal revenue bonds. Tax Increment Revenues are generally distributed by the County to the City in the months of October and April of each calendar year. 35 TOP TAXPAYERS LOCATED WITHIN URBAN RENEWAL AREA TaxoaVer MIDWESTONE BANK RBD IOWA CITY LLC OC GROUP LC PLAZA TOWERS LLC MOEN, MARC B FIRST NATIONAL BANK IOWA CITY 100-500 LLC ICF LLC CENTER CITY LLC COURT STREET APARTMENTS LLC Total Classification Financial Institution Sheraton Hotel Old Capital Mall Residential & Comm. Condo Rentals Residential & Comm. Condo Rentals Financial Institution Residential Condo Rentals Residential & Comm. Condo Rentals Residential & Comm. Condo Rentals Residential & Comm. Condo Rentals Taxable Valuation $ 12,902,535 11,579,832 8,968,986 8,087,115 7,491,452 6,906,951 6,795,112 6,660,466 6,414,733 6,037,026 $ 81,844,208 (1) The Total Taxable Valuation in the Urban Renewal Area for 1/1/2015 for fiscal year 2016-17 is $342,890,955. 36 FY2016/17 % of Total Taxable Valuations (1) 3.76% 3.38% 2.62% 2.36% 2.18% 2.01% 1.98% 1.94% 1.87% 1.76% 23.87% TAX INCREMENT TAX RATES FY2009-10 FY2010-11 FY2011-12 FY2012-13 FY2013-14 (1) Total City Tax Rate $ 40.59569 $ 40.91519 $ 40.75369 $ 39.49917 $ 38.63862 City Debt Service (4.21934) (4.43847) (4.64901) (4.44287) (4.02965) Iowa City CSD Debt Service (0.78674) (0.72701) (0.74900) (0.69729) (0.63500) Iowa City CSD PPEL (1.67000) (1.67000) (1.67000) (1.67000) (1.67000) Iowa City CSD ISPL - - - - (0.12405) Kirkwood Debt Service (0.15908) (0.18561) (0.20000) (0.20000) (0.20000) Johnson County Debt Service (0.69680) (0.59533) (0.47402) (0.62813) (1.61074) Tax Increment Tax Rate $ 33.06373 $ 33.29877 $ 33.01166 $ 31.86088 $ 30.36918 Iowa City Downtown SSMID (2) Tax Increment Tax Rate in SSMID FY2014-15(1) FY2015-16(1) FY2016-17(1) $ 38.52756 $ 38.81115 $ 38.74878 (4.12963) (3.92833) (3.82846) (0.59831) (0.58612) (0.55017) (1.67000) (1.67000) (1.67000) (0.08550) (0.08991) (0.07069) (0.20000) (0.27005) (0.21003) (2.05908) (1.77673) (2.00829) $ 29.78504 $ 30.49001 $ 30.41114 2.00000 2.00000 2.00000 2.00000 2.00000 $ 33.86088 $ 32.36918 $ 31.78504 $ 32.49001 $ 32.41114 (1) Any urban renewal area created after April 24, 2012, will not be eligible to receive the benefits of the local school district's instruction support levy (ISPL) tax revenues, unless the ISPL is necessary to pay principal and interest on the urban renewal debt and the school passes a special resolution approving such use of the revenues. Urban renewal debt incurred on or before April 24, 2012, may receive the benefit of ISPL tax revenues for fiscal year 2013-14 and following only if the ISPL is necessary to pay principal and interest on the urban renewal area debt and the city certifies to the school district by July 1 of each fiscal year, beginning July 1, 2013. The school district must then pay those amounts during that fiscal year (Nov. 1 and May 1) back to the City's urban renewal fund. (2) In fiscal year 2012-13, the City created a Self Supporting Municipal Improvement District (SSM ID) within a portion of the Urban Renewal Area. The tax levy for the SSMID increases the tax increment rate but is only applied to certain properties when the County is apportioning the tax increment revenue request. 37 HISTORICAL AND PROJECTED TAXABLE VALUATIONS WITHIN THE URBAN RENEWAL AREA (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. Total taxable value increased in fiscal year 2013-14 due to 2012 Amended Area of the Urban Renewal Area. (2) Taxable value frozen base decreases due to commercial and industrial rollback amounts starting in fiscal year 2014-15 and multi -residential rollback amounts starting in fiscal year 2016-17. 38 Taxable Total Taxable Taxable New Taxable New Taxable Valuation Taxable Assessment Fiscal Taxable Value Valuation Valuation Valuation Available for Valuation Date Year Value 1 Frozen Base (2) Available Park to 201 Chauncv Certification Certified 1/1/2010 FY 2012 195,540,284 89,677,074 105,863,210 0 0 105,863,210 0 1/1/2011 FY 2013 199,993,156 90,475,486 109,517,670 0 0 109,517,670 3,925,401 1/1/2012 FY 2014 306,901,127 196,103,957 110,797,170 0 0 110,797,170 9,358,858 1/1/2013 FY 2015 316,944,391 178,306,881 138,637,510 2,880,000 0 141,517,510 16,477,686 1/1/2014 FY 2016 309,883,790 159,027,124 150,856,666 6,041,734 0 156,898,400 17,156,898 1/1/2015 FY 2017 336,428,957 147,479,758 188,949,199 6,461,998 0 195,411,197 25,360,541 1/1/2016 FY 2018 336,428,957 147,479,758 188,949,199 6,461,998 0 195,411,197 6,818,061 1/1/2017 FY 2019 336,428,957 147,479,758 188,949,199 6,461,998 0 195,411,197 19,378,918 1/1/2018 FY 2020 336,428,957 147,479,758 188,949,199 6,461,998 0 195,411,197 19,454,549 1/1/2019 FY 2021 336,428,957 147,479,758 188,949,199 6,461,998 16,345,771 211,756,968 19,357,873 1/1/2020 FY 2022 336,428,957 147,479,758 188,949,199 6,461,998 30,128,234 225,539,431 51,148,198 1/1/2021 FY 2023 336,428,957 147,479,758 188,949,199 6,461,998 30,128,234 225,539,431 50,081,812 1/1/2022 FY 2024 336,428,957 147,479,758 188,949,199 6,461,998 30,128,234 225,539,431 48,842,135 1/1/2023 FY 2025 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 47,761,939 1/1/2024 FY 2026 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 46,836,291 1/1/2025 FY 2027 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 41,784,853 1/1/2026 FY 2028 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 37,662,679 1/1/2027 FY 2029 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 37,403,892 1/1/2028 FY 2030 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 37,283,048 1/1/2029 FY 2031 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 37,135,241 1/1/2030 FY 2032 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 37,122,910 1/1/2031 FY 2033 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 30,163,289 1/1/2032 FY 2034 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 30,181,374 1/1/2033 FY 2035 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 30,174,798 1/1/2034 FY 2036 238,069,229 105,456,210 132,613,019 6,461,998 30,128,234 169,203,251 30,143,559 (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. Total taxable value increased in fiscal year 2013-14 due to 2012 Amended Area of the Urban Renewal Area. (2) Taxable value frozen base decreases due to commercial and industrial rollback amounts starting in fiscal year 2014-15 and multi -residential rollback amounts starting in fiscal year 2016-17. 38 TAI( INCREMENT CASH FLOW AND ANTICIPATE DEBT COVERAGE (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 ate in fiscal year 2013.14 reflects the loss of the local school district's instruction support levy IISPLI of $.12405 due to recent legislative changes. TIF tax rate does not Include the SSM ID levy ate of $2.00 per $1,000 of value. Starting 1n fiscal year 2012-13, a portion of the taxable valuation certified will be at the higher rate due to Its location in the SSMI D. (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. (4) The balance Includes TIF reserve fund of $207,845. 41;1 Taxable Valuation Taxable Available Certified 2012D TIF 2016E TIF Other Total Annual Ending Available Requested Assessment Fiscal Available for Valuation TIF Tax Increment Tax Increment Other Total Revenue Revenue TIF TIF Surplus/ Cash Debt Debt Data Year Certification 111 Certified Tax Rate tel Revenuest3l Revenues Revenues Revenues Bands Bonds Debt Debt Deficit Balance 4 Coves Cov_ eave 1/1/2010 FY 2012 105,863,210 0 33.01166 3,494,720 0 0 0 0 0 0 0 0 662,510 n.a. n.a. 1/1/2011 FY 2013 103,517,670 3,925,401 31.86088 3,489,329 128,072 31,795 159,867 0 0 159,867 159,867 0 662,510 n.e. n.a. 1/1/2012 FY 2014 110,797,170 9,358,858 30.36918 3,364,819 289,650 148 289,798 75,335 0 214,315 289,650 148 662,658 44.66 1.55 1/1/2013 FY 2015 141,517,510 16,477,686 29.78504 4,215,105 502,339 5,090 507,429 75,335 0 427,004 502,339 5,090 667,748 55.95 1.05 1/1/2014 FY 2016 156,898,400 17,156,898 30.49001 4,783,834 532,776 2,434 535,210 205,335 0 172,256 377,591 157,619 825,367 23.30 1.00 1/1/2015 FY 2017 195,411,197 25,360,541 30.41114 5,942,677 805,965 0 805,965 204,035 0 307,715 511,750 294,215 1,119,582 29.13 1.00 1/1/2016 FY 2018 195,411,197 6,818,061 30.41114 5,942,677 207,345 0 207,345 207,345 0 0 207,345 0 1,119,582 28.66 1.00 1/1/2017 FY 2019 195,411,197 19,378,918 30.41114 5,942,677 589,335 0 589,335 205,185 384,150 0 589,335 0 1,119,582 10.08 1.00 1/1/2018 FY 2020 195,411,197 19,454,549 30.41114 5,942,677 591,635 0 591,635 207,485 384,150 0 591,635 0 1,119,582 10.04 1.00 1/1/2019 FY 2021 211,755,968 19,357,873 30.41114 6,439,771 588,695 0 588,695 204,545 384,150 0 588,695 0 1,119,582 10.94 1.00 1/1/2020 FY 2022 225,539,431 51,148,198 30.41114 6,858,911 1,555,475 0 1,555,475 206,325 1,349,150 0 1,555,475 0 1,119,582 4.41 1.00 1/1/2021 FY 2023 225,539,431 50,081,812 30.41114 6,858,911 1,523,045 0 1,523,045 207,845 1,315,200 0 1,523,045 0 1,119,582 4.50 1.00 1/1/2022 FY 2024 225,539,431 48,842,135 30.41114 6,858,911 1,85,345 0 1,485,345 203,945 1,281,400 0 1,485,345 0 1,119,582 4.62 1.00 1/1/2023 FY 2025 169,203,251 47,761,939 30.41114 5,145,664 1,452,495 0 1,452,495 204,745 1,247,750 0 1,452,495 0 1,119,582 3.54 1.00 1/1/2024 FY 2026 169,203,251 46,836,291 30.41114 5,145,664 1,424,345 0 1,424,345 205,095 1,219,250 0 1,424,345 0 1,129,582 3.61 1.00 1/1/2025 FY 2027 169,203,251 41,784,853 30.41114 5,145,664 1,270,725 0 1,270,725 204,975 1,065,750 0 1,270,725 0 1,119,582 4.05 1.00 1/1/2026 FY 2028 169,203,251 37,662,679 30.41114 5,145,664 1,145,365 0 1,145,365 204,365 941,000 0 1,145,365 0 1,119,582 4.49 1.00 1/1/2027 FY 2029 169,203,251 37,403,892 30.41114 5,145,664 1,137,495 0 1,137,495 203,245 934,250 0 1,137,495 0 1,119,582 4.52 1.00 1/1/2028 FY 2030 169,203,251 37,283,048 30.41114 5,145,664 1,133,820 0 1,133,820 206,770 927,050 0 1,133,82D 0 1,119,582 4.54 1.00 1/1/2029 FY 2031 169,203,251 37,135,241 30.41114 5,145,664 1,129,325 0 1,129,325 204,925 924,400 0 1,129,325 0 1,119,582 4.56 1.00 1/1/2030 FY 2032 169,203,251 37,122,910 30.41114 5,145,664 1,128,950 0 1,128,950 207,800 921,150 0 1,128,95D 0 1,119,582 4.55 1.00 1/1/2031 FY 2033 169,203,251 30,163,289 30.41114 5,145,664 917,300 0 917,300 0 917,300 0 917,300 0 1,119,582 5.61 1.00 1/1/2032 FY 2034 169,203,251 30,181,374 30.41114 5,145,664 917,85D 0 917,850 0 917,850 0 917,850 0 1,119,582 5.61 1.00 1/1/2033 FY 2035 169,203,251 30,174,798 30.41114 5,145,664 917,650 0 917,650 0 917,65D 0 917,650 0 1,119,582 5.61 1.00 1/1/2034 FY 2036 169,203,251 30,143,559 30.41114 5,145,664 916,700 0 916,700 0 916,700 0 916,700 0 1,119,582 5.61 1.00 (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 ate in fiscal year 2013.14 reflects the loss of the local school district's instruction support levy IISPLI of $.12405 due to recent legislative changes. TIF tax rate does not Include the SSM ID levy ate of $2.00 per $1,000 of value. Starting 1n fiscal year 2012-13, a portion of the taxable valuation certified will be at the higher rate due to Its location in the SSMI D. (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. (4) The balance Includes TIF reserve fund of $207,845. 41;1 CITY OF IOWA CITY QUARTERLY INVESTMENT REPORT October 1, 2016 to December 31, 2016 Finance Department Prepared by: Brian Cover Senior Accountant OVERVIEW The City of Iowa City's investment objectives are safety, liquidity and yield. The primary objective of the City of Iowa City's investment activities is the preservation of capital and the protection of investment principal. The City's investment portfolio remains sufficiently liquid to enable the City to meet operating requirements that cash management procedures anticipate. In investing public funds, the City's cash management portfolio is designed with the objective of regularly exceeding the average return on the six month U.S. Treasury Bill. The Treasury Bill is considered a benchmark for riskless investment transactions and therefore comprises a minimum standard for the portfolio's rate of return. Since the city's investments are mostly between the six month and twelve month range, the yield curve for the 12 month U.S. Treasury Bill has been added to the chart. The rolling average return on the six-month U.S. Treasury Bill for the prior 365 days was 0.46% and the 12 month rate was 0.61 %. The investment program seeks to achieve returns above this threshold, consistent with risk limitations and prudent investment principles. The rate of return on the City's entire portfolio for the quarter was 0.60%. (See exhibit A) Investments purchased by the City of Iowa City for the second quarter of this fiscal year had an average return of 0.72%. Rates on new investment purchases in our operating cash portfolio for the second quarter were 17 basis points higher than investments purchased at this time last year. The increase is due to the longer maturity periods and higher interest rates of the new investments. The federal funds rate is the interest rate at which banks lend to each other. In the December 14th meeting of the Federal Open Market Committee, the decision was made to raise the target range for the federal funds rate from % to % percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a return to 2 percent inflation. (See exhibit B) The quarterly investment report lists investments by fund, by institution, by maturity date, and investments purchased and redeemed. New official state interest rates setting the minimum that may be paid by Iowa depositories on public funds in the 180 to 364 day range during this quarter were 0.05% in October, 0.05% in November, and 0.05% in December 2016. i City of Iowa City vs. 6 Month Treasury Bill 0.7 ._--_...___._..___.___.._......._...__._.__ _..-._.. 0.6 0.5 _ 0.4or —0 City of Iowa City rn —F6 Month T-bill 0.3 , —t-12 Month T-bill am 0.2 ---- 0.1 :i 0.0 OCG EXHIBIT A O�°C•�8 ✓4�i.�9 70 O�a�2 Oea est O� '7S Ora 76 V Interest Rate -n CD (CD I C (D CITY OF IOWA CITY INVESTMENTS ON HAND DETAIL LISTING BY MATURITY DATE 31 -Dec -16 INSTITUTION INVESTMENT PURCHASE MATURITY INVESTMENT INTEREST NAME TYPE DATE DATE AMOUNT RATE IPAIT IPAIT 27 -Sep -06' $ 1,312,750 00 022% HILLS BANK MONEY MRKT 30 -Mar -10 $ 9,000,000.00 0.20% WELLS FARGO SAV 25 -Jul -12 $ 14,500,344.17 0.15% WELLS FARGO SAV 14 -Apr -14 $ 24,000,000.00 0.15% US BANK MONEY MRKT 22 -Jun -16 $ 10,000,000.00 0.25% UICCu CD 22 -Jul -14 24 -Jul -19 $ 2,600,000.00 2.01% MIDWESTONE BANK CD 29 -Apr -15 29 -Oct -17 $ 1,000,000.00 1.02% UICCU CD 26 -Jun -15 25 -Jun -17 $ 844,150.OD 0.95% CR BANK & TRUST CD 18 -Aug -15 18 -Aug -17 $ 775,000.00 0.68% MIDWESTONE BANK CD 30 -Sep -15 30 -Sep -17 $ 15,000,000.00 1.02% WELLS FARGO SECURITIES NOTE 20 -Nov -15 15 -May -18 $ 499,510.00 1.04% HILLS BANK CD 16 -Dec -15 13 -Jan -17 $ 2,000,000.00 1.00% MIDWESTONE BANK CD 11 -Jan -16 10 -Feb -17 $ 2,000,000.00 0.91% MIDWESTONE BANK CD 04 -Mar -16 03 -Mar -17 $ 450,000.00 0.90% MIDWESTONE BANK CD 04 -Mar -16 03 -Mar -17 $ 2,030,221.00 0.91% CBI BANK & TRUST CD 05 -May -16 05 -May -17 $ 2,000,000.00 0.82% CBI BANK & TRUST CD O5 -May -16 12 -May -17 $ 2,000,000.00 0.82% CR BANK & TRUST CD 24 -May -16 24 -May -17 $ 2,000,000.00 0.92% CR BANK & TRUST CD 10Jun-16 12 -Jun -17 $ 2,000,000.00 0.81% FARMERS & MERCHANTS BANK CD 17 -Jun -16 19 -Jun -17 $ 2,000,000.00 0.76% TWO RIVERS BANK CD 18 -Jul -16 16 -Jan -17 $ 2,000,000.00 0.59% MIDWESTONE BANK CD 27 -Jul -16 27 -Jan -17 $ 2,000,000.00 0.57% CR BANK & TRUST CD 09 -Aug -16 09 -Feb -17 $ 2,000,000.00 0.67% CR BANK & TRUST CD 24 -Aug -16 24 -Feb -17 $ 2,000,000.00 0.78% CR BANK & TRUST CD 02 -Sep -16 03 -Mar -17 $ 2,000,000.00 0.71% MIDWESTONE BANK CD 09 -Sep -16 10 -Mar -17 $ 2,000,000.00 0.65% MIDWESTONE BANK CD 09 -Sep -16 17 -Mar -17 $ 2,000,000.00 0.67% CR BANK & TRUST CD 13 -Sep -16 10 -Mar -17 $ 2,000,000.00 0.70% CR BANK & TRUST CD 13 -Sep -16 17 -Mar -17 $ 2,000,000.00 0.70% IPAIT CD 16 -Sep -16 17 -Mar -17 $ 2,364,542.00 0.67% IPAIT CD 16 -Sep -16 19 -Sep -17 $ 2,364,542.00 0.85% IPAIT CD 16 -Sep -16 16 -Mar -18 $ 2,364,542.00 0.95% IPAIT CD 16 -Sep -16 17 -Sep -18 $ 2,364,542.00 0.95% IPAIT CD 16 -Sep -16 18 -Mar -19 $ 2,364,542.00 1.05% IPAIT CD 18 -Sep -16 15 -Sep -19 $ 2,364,540.00 1.15% CR BANK & TRUST CD 30 -Sep -16 31 -Mar -17 $ 2,000,000.00 0.75% MIDWESTONE BANK CD 13 -Oct -16 07 -Apr -17 $ 2,000,000.00 0.63% TWO RIVERS BANK CD 13 -Oct -16 14 -Apr -17 $ 2,000,000.00 0.85% MIDWESTONE BANK CD 21 -Oct -16 21 -Apr -17 $ 2,000,000.00 0.66% MIDWESTONE BANK CD 03 -Nov -16 03 -May -17 $ 2,000,000.00 0.65% MIDWESTONE BANK CD 03 -Nov -16 10 -May -17 $ 2,000,000.00 0.67% MIDWESTONE BANK CD 03 -Nov -16 17 -May -17 $ 2,000,000.00 0.69% TWO RIVERS BANK CD 10-Nov,16 10 -Nov -17 $ 2,000,000.00 1.02% MIDWESTONE BANK CD 17 -Nov -16 17 -Nov -17 $ 2,000,000.00 0.89% MIDWESTONE BANK CD 17 -Nov -16 27 -Nov -17 $ 2,000,000.00 0.92% MIDWESTONE BANK CD 30 -Nov -16 01 -Dec -17 $ 2,000,000.00 0.93% MIDWESTONE BANK CD 15 -Dec -16 21 -Dec -17 $ 2,000,000.00 0.95% TWO RIVERS BANK CD 15 -Dec -16 15 -Dec -17 $ 2,000,000.00 0.93% TOTAL $154,199,225.17 CITY OF IOWA CITY INVESTMENT ACTIVITY FOR THE QUARTER ENDED DECEMBER 31, 2016 TOTAL REDEMPTIONS $ (27,083,900.00) INVESTMENTS ON HAND AT 12/31/16 $154,199,225.17 INVESTMENT PURCHASE MATURITY INVESTMENT INTEREST INSTITUTION TYPE DATE DATE AMOUNT RATE INVESTMENTS ON HAND AT 09/30/16 $153,199,225.17 PURCHASES 10/01/16 TO 12/31/16 MIDWESTONE BANK CD 13 -Oct -16 07 -Apr -17 $ 2,000,000.00 0.63% TWO RIVERS BANK CD 13 -Oct -16 14 -Apr -17 $ 2,000,000.00 0.85% WELLS FARGO SAV 13 -Oct -16 $ 2,000,000.00 0.15% MIDWESTONE BANK CD 21 -Oct -16 21 -Apr -17 $ 2,000,000.00 0.66% MIDWESTONE BANK CD 03 -Nov -16 03 -May -17 $ 2,000,000.00 0.65% MIDWESTONE BANK CD 03 -Nov -16 10 -May -17 $ 2,000,000.00 0.67% MIDWESTONE BANK CD 03 -Nov -16 17 -May -17 $ 2,000,000.00 0.69% TWO RIVERS BANK CD 10 -Nov -16 10 -Nov -17 $ 2,000,000.00 1.02% MIDWESTONE BANK CD 17 -Nov -16 17 -Nov -17 $ 2,000,000.00 0.89% MIDWESTONE BANK CD 17 -Nov -16 27 -Nov -17 $ 2,000,000.00 0.92% MIDWESTONE BANK CD 30 -Nov -16 01 -Dec -17 $ 2,000,000.00 0.93% WELLS FARGO SAV 09 -Dec -16 $ 2,083,900.00 0.15% MIDWESTONE BANK CD 15 -Dec -16 21 -Dec -17 $ 2,000,000.00 0.95% TWO RIVERS BANK CD 15 -Dec -16 15 -Dec -17 $ 2,000,000.00 0.93% TOTAL PURCHASES $ 28,083,900.00 REDEMPTIONS 10/01/16 TO 12/31/16 UICCU CD O8 -Apr -16 07 -Oct -16 $ (2,000,000.00) 0.75% WELLS FARGO SECURITIES CD 16 -Oct -15 13 -Oct -16 $ (2,000,000.00) 0.57% UICCU CD 08 -Apr -16 14 -Oct -16 $ (2,000,000.00) 0.75% FARMERS & MERCHANTS BANK CD 16 -Oct -15 29 -Oct -16 $ (2,000,000.00) 0.50% IPAIT CD 05 -Feb -16 01 -Nov -16 $ (5,000,000.00) 0.66% CBI BANK & TRUST CD 16 -Oct -15 05 -Nov -16 $ (2,000,000.00) 0.62% MIDWESTONE BANK CD 10 -May -16 10 -Nov -16 $ (2,000,000.00) 0.62% CBI BANK & TRUST CD 16 -Oct -15 12 -Nov -16 $ (2,000,000.00) 0.62% WELLS FARGO SECURITIES NOTE O8 -Dec -15 09 -Dec -16 $ (2,083,900.00) 0.78% TWO RIVERS BANK CD 18 -Mar -16 15 -Dec -16 $ (2,000,000.00) 0.82% TWO RIVERS BANK CD 21 -Jun -16 21 -Dec -16 $ (2,000,000.00) 0.61% TWO RIVERS BANK CD 25 -Mar -16 29 -Dec -16 $ (2,000,000.00) 0.82% TOTAL REDEMPTIONS $ (27,083,900.00) INVESTMENTS ON HAND AT 12/31/16 $154,199,225.17 CITY OF IOWA CITY INVESTMENTS ON HAND SUMMARY BY FUND 1213l/16 12/31/15 FUND INVESTMENT INVESTMENT TYPE AMOUNT AMOUNT ALL OPERATING FUNDS $146,000,344.17 $104,000,344.17 GENERAL OBLIGATION BOND FUND $ - $ - BOND RESERVE FUND $ 8,198,881.00 $ 8,198,881.00 TOTAL $ 154,199,225.17 $ 112,199,225.17 CITY OF IOWA CITY INVESTMENTS ON HAND LISTING BY INSTITUTION TOTAL $154,199,225.17 $112,199,225.17 12131/16 12/31/15 INSTITUTION INVESTMENT INVESTMENT DEPOSITORY NAME AMOUNT AMOUNT LIMIT BANK OF THE WEST $ - $ - $ 75,000,000.00 BANKER'S TRUST $ - $ - $ 20,000,000.00 CEDAR RAPIDS BANK & TRUST $ 16,775,000.00 $ 12,775,000.00 $ 20,000,000.00 FARMERS & MERCHANTS SAVINGS BANK $ 2,000,000.00 $ 2,000,000.00 $ 15,000,000.00 FIRST AMERICAN BANK $ - $ - $ 35,000,000.00 CBI BANK & TRUST $ 4,000,000.00 $ 4,000,000.00 $ 15,000,000.00 HILLS BANK & TRUST $ 11,000,000.00 $ 11,000,000.00 $ 25,000,000.00 IOWA PUBLIC AGENCY INVESTMENT TRUST $ 15,500,000.00 $ 7,500,000.00 N/A LIBERTY BANK $ - $ - $ 25,000,000.00 MIDWESTONE BANK $ 44,480,221.00 $ 18,480,221.00 $100,000,000.00 I -WO RIVERS BANK $ 8,000,000.00 $ 4,000,000.00 $ 10,000,000.00 U OF I COMM CREDIT UNION $ 3,444,150.00 $ 3,444,150.00 $ 50,0130,000.00 US BANK $ 10,000,000.00 $ - $ 65,000,000.00 WELLS FARGO SECURITIES $ 499,510.00 $ 6,597,153.43 NIA WELLS FARGO BANK $ 38,500,344.17 $ 42,402,700.74 $ 50,000,000.00 WEST BANK $ $ 35,000,000.00 TOTAL $154,199,225.17 $112,199,225.17 CITY OF IOWA CITY IP5 MEMORANDUM Date: January19, 2017 To: Geoff Fruin From: Stefanie Bowers, Equity Director Re: Social Justice & Racial Equity Fourth Quarter Update for 2016 Attached please find the fourth quarter Social Justice & Racial Equity Update for 2016. We are transitioning the title from what was once referred to as the DIF (Diversity Implementation Form) to this to be more consistent with the Council's seventh strategic goal "to advance social justice and racial equity." Attached to the update is the fourth quarter update from the Police Department for 2016. Social Justice & Racial Equity FOURTH QUARTER UPDATE (October— December 2016) 11 CITY OF IOWA CITY UNESCO CITY OF LITERATURE CITY OF IOWA CITY SOCIAL JUSTICE & RACIAL EQUITY Accountability October 10, the City Manager, Interim Police Chief, Police Captain and Equity Director met with Dr. Nicole Novak, of the Institute for Social Research at the University of Michigan, to discuss her findings on a Community 1D study. The study included surveying 51 Community ID users, 32 who have the Community ID as their only or primary ID. Nineteen -percent of the primary ID users had successfully used the Community 1D to interact with police. Nobody reported having their Community ID rejected by the police. October 21, 24, 25, representatives from the Neighborhood Centers of Johnson County, the Johnson County Disproportionate Minority Contact Committee, Human Rights Commission, Community Police Review Board and New Creations International Church participated on the interview teams for the semi- finalist for the Police Chief position. November 15, the Council passed a resolution put forth by the Human Resources Administrator that amended the budgeted positions in the Police Department by temporarily adding two full-time police officer positions. The City had two vacant police officer openings due to retirements and had four seats in the Iowa Law Enforcement Academy to train officers. Three of the next four candidates on the rank and order certified civil service hiring list for the position of Police Officer were Black/African-American, which allowed the City to racially diversify its workforce. November 10, the City Attorney' s Office and Human Rights Office participated in a continuing legal education program at the University of Iowa Law School entitled "Racial Disparities in the Criminal Justice System: Challenges and Opportunities in Iowa." The event was sponsored by the ACLU of Iowa and The Journal of Gender, Race & Justice. November 18, the Human Rights Office released its annual report on racial equity. The annual report provides data on the racial demographics of youth and adult interactions with the Iowa City Police Department, City board and commission members, and City staff. December 13, the Human Rights, Police, Neighborhood Services, Accounting, Transit and Human Resources Offices met to continue to review two current policies, procedures, programs or services, and one new proposal for each listed department using the socio-economic and racial review toolkit pilot. October 3, the Iowa City Police Department introduced a new outreach initiative entitled "Sit and Chat." Sit and Chat is led by the Community Outreach Assistant for the Police Department who is available at the Police Substation at Pepperwood Plaza, Monday -Friday from 5:30 p.m. - 6:30 p.m. to meet and chat with community members. October 25, A "Lunch & Learn: Conversations on Diversity" for current board and commission members was held. University of Iowa College of Education Professor Katrina M. Sanders facilitated the discussion, which is designed to increase cultural competency by exploring race relations throughout American history. October and November, the Library hosted two "Great Stories Book Club" discussion groups at Elizabeth Tate Alternative High School. Books discussed were "Buck" by M.K. Asante and "Absolutely True Diary of a Part Tim Indian" by Sherman Alexie. November 4, Jason Sole presented "From Prison to PhD: A Journey of Pain, Promise, and Protest." The presentation chronicled his growth from three -time convicted felon to keynote speaker and gang trainer. The event was held in Meeting Room A at the Iowa City Public Library, as part of the 2016 Witching Hour Festival. The Library co-sponsored the festival that ran from November 4- 5. November 9, the City Manager' s Roundtable was held with representatives from social justice and racial equity organizations including the Center for Worker Justice for Eastern Iowa, Black Voices Project, Coalition for Racial Justice, Community Police Review Board, Human Rights Commission, Johnson County Disproportionate Minority Contact Committee and New Creations International Church In attendance. The group discussed updates on the search for the next Police Chief, the advertising and marketing policies for vacant positions by the City, the Social Justice and Racial Equity Grant, and the new online submittal form for applying for City boards and commissions. November 15, a City Council "Listening Post" was held in the lobby of the Senior Center. The listening posts are attended by two council members at each event. Members of the community are encouraged to stop by and meet with council members to discuss community topics and concerns. November 16, the Human Rights Office presented at two of the University of Iowa' s Trio Student Support Services classrooms. The Trio program is comprised of third year college students, who are from low income families or are the first generation to attend college. The classrooms help prepare the students for the workforce. November 23, "Coffee with a Cop" was held at Bruegger' s on Riverside Drive. Residents are invited to join their neighbors, friends and co-workers to discuss community issues with neighborhood police officers. November 28, the Human Rights Office participated in a planning meeting for a conference being held in March 2017 entitled "The Future of Black Iowa." The City of Iowa City is one of the co-sponsors of the conference. The conference is intended to be an annual event with different themes of focus each year. The focus for 2017 is health and education. Other sponsors include the University of Iowa Center for Human Rights and the Black Law Students Association. December 5, the City Manager and Equity Director attended a meeting to discuss next steps for diversity and inclusion in the corridor in light of Diversity Focus ceasing operations after 11 years. The meeting was organized by Mayor Ron Corbett of Cedar Rapids. Other participants included General Mills, ACT, University of Iowa, Rockwell Collins and the City of Cedar Rapids. The event was held at the Kirkwood Center for Lifelong Learning campus in Cedar Rapids. d" I CITY O _IOWA CITY : SOCIAL JUSTICE & RACIAL EQUITY Justice November 15, at the City Council meeting, Mayor Pro—Tem Botchway delivered a statement on behalf of the City Council in support of an inclusive community. November 17, the Mayor issued a statement supporting a diverse and safe community. November 21, Human Rights staff participated in the "Iowa City Area Immigration Law Practitioners, Advocates and Service Providers" meeting. The group formed in November 2016 and meets monthly to support Iowa City immigrant communities. December 1, the Social Justice and Racial Equity Grant application form was released to the community. The grant is specifically designed to advance social justice and racial equity. The City Council approved $25,000 for fiscal year 2017. The grant has six priority service areas: education, building community, housing, criminal justice, health and employment. The Human Rights Commission will review applications and then forward recommendations to the City Council for final approval. Funding will be distributed by June 2017. December 6, the Council passed a resolution "Rejecting Intimidation and Supporting Safe Communities." December 14, staff from the Human Rights Office and Neighborhood Services Department attended the Refugee Assistance Discussion for Johnson County. The meeting was held at the First Presbyterian Church. The meetings are a great opportunity for local advocates to network and share ideas for working together to better meet the needs of all community members. CITY OF IOWA CITY : SOCIAL JUSTICE 8 RACIAL EQUITY Outreach October 14, the Human Resources Department, with assistance from the Communications Office, completed a video on "Applying for City Employment." The video explains the City's job posting and hiring process. October 17, the Police Department' s Community Outreach Assistant began soliciting volunteers to team up with local youth for RAGBRAI 2017. The new program entitled "ICPD RAGBRAI" will join forces with the Neighborhood Centers of Johnson County's Youth Off Road Riders cycling club to send 5-6 youth to participate in the weeklong event. October 21, the Library co-sponsored a presentation on "Fields of Opportunity: Records of African American Excellence at the University of Iowa." The program included authors who contributed to Michael and Lena Hill' s book "Invisible Hawkeyes" and another panel with reflections from former students about their experiences at the University of Iowa during the Civil Rights era. November 16, the Human Resources Department updated the language on the voluntary racial demographics survey used on the City' s employment application form. Editing the language to be more inclusive may encourage more applicants to respond to the voluntary survey so that the City is better able to track this data and to analyze recruitment efforts. December 7, the Iowa City Police Department visited with members of G! World at South East Junior High. The officers were invited to answer questions and provide feedback to the group of 7`" and 8t' grade female students. G! World is an award winning mentoring program aimed at empowering self -defined minority females ages 12-18. December 11, the Iowa City Police Department took local youth holiday shopping. Children were able to shop with a police officer for necessity items and gifts for themselves, as well as special gifts for family members. The event was organized as part of the annual "Shop with a Cop" program. December 13, the Human Resources Department sent out a mass email with a link to an online survey for community members and organizations to provide feedback on the City' s current policies for advertising and promoting vacant employment positions. December - the Library held four sessions with Iowa Workforce Development to assist displaced International Automotive Components (IAC) workers to create a resume to use in upcoming job searches. CITY OF IOWA CITY - SOCIAL JUSTICE & RACIAL EQUITY Training October 25, Human Rights staff participated in the Government Alliance on Racial Equity (GARE) workshop on "Applying the Racial Equity Tool." November 15, Human Rights staff participated in the Multicultural Initiatives Panel Discussion facilitated by Dr. Sherry Watt, of the University of Iowa College of Education. The purpose of the panel was to speak with doctoral -level students to explore how to create transformative multicultural initiatives that can be implemented in the workplace or on college campuses. December 5, Human Rights staff participated in "Change is Hard - Building the Skills & Competencies Necessary to Improve Outcomes at Scale," sponsored by the My Brother' s Keeper Alliance and Strive Together. The program provided concrete examples of how communities have identified and expanded successes to improve outcomes. TO: Stefanie Bowers FROM: Acting Chief of Police Bill Campbell RE: DIF Reporting for ICPD — 4th Quarter 2016 DATE: January 18, 2017 ICPD's DIF Reporting for the fourth quarter of 2016 is below. COMMUNITY OUTREACH: Documentation of participation in any event, attended or presented, by a Department member to a community member or organization. 36 ICPD Officers attended 297 events in the fourth quarter of 2016 totaling 476 hours and made contact with approximately 9,502 community members. On November 4, 2016, Iowa City Police Department Community Outreach Assistant Henri Harper was inducted into the Iowa African American Hall of Fame. The ceremony, which was held in Des Moines, Iowa, was attended by members of the Department and City Council. The ICPD was one of the sponsors of the event. On December 11, 2016, the Iowa City Police Department took local youth shopping for the holidays at the Iowa City Wal-Mart. The shoppers were pre -selected to participate and will shop with a police officer for necessity items and gifts for themselves, as well as special gifts for family members. This event is part of the Iowa City Police Association's Shop with a Cop program. The children were able to shop due to the generous donations of area residents and businesses. Officers, their families, and civilian employees from the Iowa City Police Department, volunteer their time to shop and celebrate with the children on this special day. Durham School Services provided transportation for the event. Other highlights included "Coffee with a Cop" events, participation in a dodge ball tournament to benefit Special Olympics of Iowa, construction work on a Habitat for Humanity house on Prairie du Chien Road, City Manager's Roundtable, and attendance at various school sporting events. COMMUNITY PRESENTATIONS: Documentation of any participation in a community presentation by a Department member. 16 ICPD Officers participated in 59 community presentations in the fourth quarter of 2016, totaling 104 hours, and making contact with 2,793 community members. DIF Reporting for ICPD — 4th Quarter 2016 This quarter included many ALICE active shooter training sessions; a police K-9 presentation to elementary age children; a lab tour and presentation to a group of Kirkwood students on crime scene evidence collection and processing; ICPD Youth Academy presentations; a number of "What Police Do" sessions with preschoolers; a presentation on domestic violence to the Department of Corrections Women's Iowa Domestic Abuse Program, and information provided at a Project Homeless Connect at the Iowa City Recreation Center. CULTURAL COMPETENCY TRAINING: Documentation of any training received by a Department member involving cultural competency. Cultural competency training refers to training directed at the ability to interact effectively with people of different cultures, ethnicity and socio-economic backgrounds. Three ICPD Officers attended a 40 hour training session in St. Louis, Missouri, to become certified as Crisis Intervention Team members. PUBLIC EDUCATION EFFORTS ON RIGHTS: Documentation of any participation at an event, attended or presented by a Department member, to a community member or organization where the focus is education on an individual's rights. The Neighborhood Response Officer conducted 5 training sessions entitled, "Know the Law," for 459 University of Iowa students. COMMUNITY PARTNERSHIPS: Documentation of any partnership between the Department and another community organization. The Department worked with community partners that led to attendance at 93 events by 15 officers who spent 119 hours with 1,286 community members. The Department continues to partner with entities such as The Dream Center, Broadway Neighborhood Center, DVIP, DMC, Diversity Roundtable and the Johnson County Attorney's Office. These partnerships include: • Iowa City Downtown District —To champion the Iowa City Downtown District as a progressive, healthy, and culturally vibrant urban center of the region. • Local Homeless Coordinating Board —The Local Homeless Coordinating Board is a community collaboration dedicated to preventing homelessness in Johnson County, Iowa. The WET Shelter sub -committee has successfully implemented a second annual temporary shelter to provide an alternate housing option for the winter months. This alternate housing provides shelter for individuals who are intoxicated or are otherwise ineligible to receive housing at Shelter House. DIF Reporting for ICPD — 4th Quarter 2016 • The Downtown Liaison continues to represent the Iowa City Police Department and participate in the White House's Data -Driven Justice Initiative. This is a coalition of city, county, and state governments who have committed to using data -driven strategies to divert low-level offenders with mental illness out of the criminal justice system and change approaches to pre-trial incarceration. • The ICPD continues to collaborate with the Iowa City Bike Library to repurpose abandoned bicycles impounded by the Department. Instead of being auctioned or recycled as scrap metal, the Iowa City Bike Library refurbishes some of the bicycles which are then lent out through their organization. The remaining bicycles are collected by Working Bikes. Working Bikes is a non- profit that rescues discarded bicycles and gives them new life by redistributing them in global communities. During this quarter the Downtown Liaison worked with staff and the City Manager to begin the process of amending part of the City Code which covers impounded bicycles. The amendment will allow the police department and other City Staff to repurpose unclaimed bicycles for community outreach with disadvantaged youth and adults. • Johnson County Public Safety Leadership Academies, providing an avenue for area youth interested in searching the possibility to become a police officer/firefighter/medic in Johnson County via partnership with ICPD/ICFD/JCAS as well as the Iowa City Community School District, Boy/Girl Scouts, Dream Catchers, Diversity Focus. The Department also provided extra patrol on 1,007 occasions where criminal activity or safety concerns had been identified. DIF Reporting for ICPD — 4th Quarter 2016 Mediacom January 11, 2017 Subject: Channel Lineup Changes Dear City Official, On or about January 23, 2017 Mediacom will be Launching Disney Jr. on channel 795 on the Family Cable HO tier in your community. We will also be moving Sprout N from the Kids and Variety package to the Family N. If there are any questions, please call me at 319-395-9699 ext. 3164 or email Igrasslev@mediacomcc.com . Sincerely, Lee Grassley Senior Manager, Government Relations Mediacom Communications Corporation 4010 Alexandra Drive Waterloo, IA 50702-6118 319-232-8800 Fax 319-232-7841 N �J NN ��rrz � 4 • i rn C. Mediacom Communications Corporation 4010 Alexandra Drive Waterloo, IA 50702-6118 319-232-8800 Fax 319-232-7841 December 15, 2016 Page 1 MINUTES DRAFT IOWA CITY AIRPORT COMMISSION DECEMBER 15, 2016 — 6:00 P.M. AIRPORT TERMINAL BUILDING Members Present: Julie Bockenstedt, Minnetta Gardinier, A. Jacob Odgaard, Chris Ogren Members Absent: Robert Libby Staff Present: Michael Tharp, Eric Goers Others Present: Matt Wolford, Todd Allyn, Ben Logsdon RECOMMENDATIONS TO COUNCIL: (to become effective only after separate Council action): Recommend approving Storm Water Easement with MXTE LLC, pending approval by FAA. DETERMINE QUORUM: The meeting was called to order at 6:06 P.M. by Chairperson Odgaard. APPROVAL OF MINUTES: The minutes from the November 17 meeting were reviewed. Ogren moved to accept the minutes of the November 17, 2016, meeting as presented. Bockenstedt seconded the motion. The motion carried 4-0, Libby absent. PUBLIC DISCUSSION: None. ITEMS FOR DISCUSSION/ACTION: a. Westport Easement — Tharp began an overview of this request, noting that page 81 of the pdf is the plat layout. He then showed Members, using the map, just where the area under consideration is located. The request entails the installation of a drainage pipe from the developer's site, across the Airport's land, that will then drain into the detention basin that is behind Walmart. Tharp continued, stating that the Airport essentially has to obtain approval from the FAA before they can move forward with this request. He then responded to Member questions, one of which included how the construction equipment would get to and from this site. Members continued to discuss the land in this area and what type of development might be considered in the future. The developer also spoke to future development as he responded to Member questions and concerns. Tharp noted that they have been working on an agreement and it should be ready for review soon. Goers then briefly gave Members an overview December 15, 2016 Page 2 of how they can proceed with this request at this point. Odgaard noted that his only concern is the construction activity, which could affect Airport traffic and also the farming operations in the area. Gardinier asked what the anticipated timeframe is on the project. The developer noted that it would most likely be around one week's time. If approved, the developer is hoping to be able to begin the project in March. Members then discussed the timing issue of this request and subsequent approval. The developer noted that it would be helpful for them to know if this request will be granted or not, so that they can wrap up some transactions having to do with their development. Members continued to voice their concerns, with Odgaard asking if the runway would have to be closed at any time. Tharp noted that this would not be necessary, that the project is small enough in size that the equipment being used would not require a closing. I. Consider a resolution recommending approval of an easement for a storm water drain pipe; U. Consider a resolution approving an agreement for access and work related to installation of a storm water drain pipe — Resolutions were not acted upon and instead the below motion was considered. iii. Goers then spoke to the motion that the Commission would need to make, in order to move this forward. Ogren moved to recommend that the City Council approve the sale of the storm water easement contingent on FAA approval and satisfaction of the Airport Operations Specialist and City Attorney's Office. Odgaard seconded the motion. The motion carried 4-0, Libby absent. b. Airport Master Plan —Tharp stated that the final part of this process is to accept the final Master Plan. He stated that the original contract was $329,800, and that it was finalized at $329,699.25. I. Consider a resolution accepting work as complete — Ogren moved to consider Resolution #A16-28, accepting work as complete for the Airport Master Plan update. Odgaard seconded the motion. The motion carried 4-0, Libby absent. Goers stated that John Yapp from the City was telling him that at some point the Airport would need to change zoning, based upon the plan updates. This would then mean reviving the Airport Zoning Commission, which he also briefly spoke to. Members continued to speak to the needed zoning updates and why they are needed now. C. FAA/IDOT Projects: AECOM / David Hughes I. Obstruction Mitigation — Todd Allyn with AECOM spoke to Members regarding obstruction mitigation, noting that they have been back and forth with the FAA on the scope of this. ii. South Taxiway Extension — Allyn noted that the survey has been done for this project and that they are starting the design work, with a spring construction start planned. W. North T -Hangar Restroom — Allyn stated that they need to document the 'low use' of this facility in order to be granted an exception. He added that they have some camera footage that can be used to show this low usage. d. Airport Operations December 15, 2016 Page 3 i. Strategic Plan — Implementation — Tharp stated that now that they have the newly updated Master Plan, he would like to have the RFP for the strategic plan on next month's agenda. Tharp gave Members a brief overview of the strategic plan process and why the Airport began doing this. Basically the strategic plan is short-term goals and objectives. Ogren stated that she was under the impression that Tharp was going to gather information from other airports of the same size and see how they approach this. Gardinier stated that she thought Tharp was going to identify someone locally who has done this type of work before. Ogren stated that she would like to have more conversation around the strategic planning process. The other Members agreed, stating that with their Master Plan in place, they question the need for a strategic plan as well. Gardinier agreed that the Master Plan is more long-term, whereas the strategic plan is something that the Commission utilizes as they move forward in the short-term. Members continued to question the strategic plan process and Tharp responded, noting that since they need to look outside the organization for a facilitator for this planning, there will be a cost involved. Gardinier suggested David Rust, noting that he works with non -profits and recently worked with Riverside Theater. Tharp again noted reasons for using an RFP to come up with a facilitator and Gardinier agreed, stating that it will help them understand what costs will be involved. She suggested they prepare a draft RFP as soon as possible, so that they can perhaps have feedback on it at the next meeting. Tharp will prepare a draft RFP for Members to review and provide feedback on. ii. Budget — Tharp noted that the next topic could be part of both "Strategic Plan -Implementation" and "Budget". He stated that he had a conversation with one of the aircraft operation counting firms, and also with the DOT's Office of Aviation, on what the Airport's plans are for collecting traffic data. The DOT asked what the objective is of the actual aircraft count. He noted that with his inquiries, he has found that it would cost approximately $10,000 per camera to achieve this type of count. In addition there would be some upfront costs to get such a system in place. Tharp stated that the Commission would need to discuss this issue further, looking at what the objectives are for gathering this information, versus using what data they currently collect. Members continued to discuss the reasons for collecting the data, noting that currently the methods they are using are limited in their scope. The conversation kept going back to cost and just what they are looking for by collecting such information. Members suggested looking into having University of Iowa engineering students help them in their efforts. Bockenstedt stated that she had a question regarding the budget. On page 105 of this month's packet, she questioned the total expenses on the revised budget of 372,709 and the YTD, which shows 420,000. Tharp noted that there was the expenditure of purchasing the hangar building from Jet Air, which has skewed the numbers as they appear. Bockenstedt also questioned the $7,000 expense. Tharp explained what was behind this expense in getting power to a hangar. Bockenstedt then questioned if they are over on the "Nursery" expenses, and Tharp responded that actually they are $15,000 under. On page 92, December 15, 2016 Page 4 Bockenstedt questioned the "Lost Reserve Payment" of $5,000. She asked if this was a one-time payment, and Tharp responded, noting that this is the Airport's portion for City insurance. iii. Management — None. e. FBO / Flight Training Reports L Jet Air — Matt Wolford with Jet Air began with the monthly maintenance reports. He noted that in November they basically transitioned from grass equipment to snow removal. Light bulb replacement, trash pickup, and repair of the men's restroom floor were some of the items mentioned. Members asked if the restroom floor should be replaced any time soon, and Wolford noted the condition it is in. Tharp added that the next time they redo the floor, they should use the flooring they have in the lobby. Looking at December, snow removal has been a major task. Members spoke to runway braking and ice removal, with Wolford and Tharp responding to concerns. Speaking to Jet Air, Wolford noted that they have the foundation for the new hangar done, along with anchor bolts. The next step would be to put the building together, which they hope to begin later this week. This will take anywhere from four to six weeks to complete. Continuing, Wolford noted that Jet Air has remained busy. They currently bought another customs and border control Citation that was decommissioned. This will be parted out for spare parts and sale of engines, etc. f. Commission Members' Reports — Gardinier stated that she attempted a flight to Syracuse over Thanksgiving. She ended up parking the plane in Canton, Ohio and driving to Syracuse. g. Staff Report — Tharp reminded Members that he will be out of the office from December 23 to January 2, 2017. He will be in the area, however, should anyone need to contact him. Ogren asked if they should appoint a temporary Secretary, in light of Libby's absences. Tharp stated that it would be a good idea as he has some items that need signing. Members questioned Libby's absences and Tharp stated that he would have a conversation with him regarding this. He added that he was made aware of an absence for today's meeting. Ogren moved to nominate Bockenstedt as temporary Secretary. Odgaard seconded the motion. The motion carried 4-0, Libby absent. SET NEXT REGULAR MEETING FOR: The next regular meeting of the Airport Commission will be held on Thursday. January 19, 2017. at 6:00 P.M. in the Airport Terminal Building. ADJOURN: Ogren moved to adjourn the meeting at 8:15 P.M. Gardinier seconded the motion. The motion carried 4-0, Libby absent. December 15, 2016 Page 5 CHAIRPERSON DATE December 15, 2016 Page 6 Airport Commission ATTENDANCE RECORD 2016 Key: X = Present X/E = Present for Part of Meeting 0 = Absent O/E = Absent/Excused NM = Not a Member at this time TERM 0 0 0 0 0 0 0 0 0 0 0 N N W A N 0 -4 OD `D f0 0 = N NAME EXP. N O N co �° '� ° J in �° 0 �' N 0 -+ 0 J w 01 of ai ei 0) N 01 0\ 0: M 01 J ei a) ui a) a) M M 0) Minnetta 03/01/ X X X X X X 0/ X X X x x x Gardinier 19 E Jose 03/01/ X 0/E X N N N N N N N N N N Assouline 16 M M M M M M M M M M Chris Ogren 03/01/ X X X X X 0/ X X 0/ X X X X 18 E E A.Jacob 03101/ X X X X X 0/ X X X x X X X Odgaard 18 E Julie 03/01/ X X X X O/ X X X X 0/ X X Bockenstedt 17 E E Robert Libby 03/21/ N NM NM N X X X X X X 0 0 0/ 20 M M E Key: X = Present X/E = Present for Part of Meeting 0 = Absent O/E = Absent/Excused NM = Not a Member at this time 0 MINUTES PRELIMINARY HOUSING AND COMMUNITY DEVELOPMENT COMMISSION DECEMBER 15,2016 — 6:30 PM HARVAT HALL, CITY HALL MEMBERS PRESENT: Peter Byler, Syndy Conger, Christine Harms, John McKinstry, Harry Olmstead, Dorothy Persson, Emily Seiple, Paula Vaughan MEMBERS ABSENT: Bob Lamkins STAFF PRESENT: Kris Ackerson, Stan Laverman, Tracy Hightshoe, Sue Dulek OTHERS PRESENT: RECOMMENDATIONS TO CITY COUNCIL: By a vote of 8-0 the Commission recommended that rooming houses with more than 10 units and dwelling units owned by service providers providing support services to their resident clients shall receive annual housing inspections. By a vote of 8-0 the Commission recommended hiring a realtor to purchase land for affordable housing. The bonds used to pay for the land will be repaid by future budgeted land banking funds. CALL MEETING TO ORDER: Byler called the meeting to order at 6:30 PM. APPROVAL OF THE NOVEMBER 17, 2016 MINUTES: Persson moved to approve the minutes of November 17, 2016. Vaughan seconded the motion. A vote was taken and the motion passed 7-0 (Conger not present for the vote). PUBLIC COMMENT FOR TOPICS NOT ON THE AGENDA: Ackerson suggested moving agenda items around so that Laverman can leave after his items. RENTAL INSPECTIONS FOR SRO UNITS, ROOMING HOUSES, AND FRATERNITIES/SORORITIES: Laverman noted that the Commission had asked for some data regarding inspections at SRO units as well as houses that were owned by the social service provider as these units may be occupied by tenants who are not familiar with how to file a housing complaint, if it should ever be necessary. He stated there are 24 houses where the owner of the property also provides support services to the tenants. The supportive services are usually for persons with disabilities or who have a chronic mental illness. In addition, there are 92 properties that are considered rooming units, some of which Laverman stated should not be in the every year inspection recommendation because there aren't that many rooms in those houses. Laverman suggested doing annual inspections on anything over 10 units - 14 dwellings fall in that category. So if they looked at the 24 houses that have the service owner providing services and the 14 dwellings with more than 10 units that is a very manageable addition to their inspection schedule each year. Byler agreed that seemed reasonable and suggested the Commission recommend that these types of rental properties get annual inspections rather an every other year. Olmstead noted that the complaint the Commission heard a few months ago wasn't at a rooming house. Hightshoe stated it would be covered because it was a dwelling owned by the service provider. Housing and Community Development Commission December 15, 2016 Page 2 of 6 Olmstead moved that rooming houses with more than 10 units and dwelling units owned by service providers providing support services to their resident clients shall receive annual housing inspections. Seiple seconded the motion. A vote was taken and the motion carried 8-0. CHALLENGES AND POSSIBLE INCENTIVES FOR HOMEBUILDERS Byler noted this item was part of the Affordable Housing Action Plan and said he has had discussions over the past couple weeks with some homebuilders. There is frustration with some of the hoops they have to jump through and have said it is easier to build in communities other than Iowa City. Byler noted that it would be too difficult to review all the Codes and compare them to other municipalities but if specific items are known, perhaps they can be discussed. Laverman suggested having the senior building inspector come to a meeting to address this issue Hightshoe noted that she presented the Affordable Housing Strategies at the Planning and Zoning Commission meeting. They discussed possible regulatory code and design changes. She stated she periodically hears concerns from the development community about design requirements that make affordable housing difficult. The Planning and Zoning Commission asserted that the design standards are important because if they are sacrificed it impacts the neighborhoods and neighborhoods aren't designed as well. Hightshoe stated she has told these developers if they could identify what specific requirement is costing them more, such as certain materials or the number/size of windows, she would discuss with Development Services. Byler suggested the commission make an effort to gather information and then revisit it in the future and perhaps form a subcommittee to seek solutions. Persson suggested inviting speakers to discuss the topic. Hightshoe noted that Development Services is looking at implementing a form based code and other possible regulatory changes as stated in the Affordable Housing Strategies. Byler asked who would want to serve on a subcommittee; volunteers included Vaughn, Seiple, Conger and Byler. AFFORDABLE HOUSING LOCATION SUITABILITY MODEL: Per the commission's request, staff created two variants of the Affordable Housing Location Suitability Model. One map uses the current methodology but has removed single units and duplexes, while the others outline the current elementary school boundaries and data. Byler noted that in the packet there is also a memo from the City Attorney providing background on the development of the policy, and other memos from 2010 and 2011 from when the policy was created. He stated that the original criteria is sound: 1. Not further burdening neighborhoods and elementary schools that already have issues related to a concentration of poverty. 2. Having diverse neighborhoods in terms of a range of incomes. 3. Determining the views of the Iowa City Community School District (ICCSD) on affordable housing Additionally in the memo are the seven factors used to create a map identifying those locations in which City funds could be used to support new rental housing projects: 1) distance to existing assisted rental housing (400 feet or approximately one city block from existing subsidized and assisted rental housing); Housing and Community Development Commission December 15, 2016 Page 3 of 6 2) elementary school mobility rate; 3) median household income; 4) change in residential sales price; 5) crime density; 6) elementary school ITBS performance; 7) elementary school free and reduced lunch rate. Byler believes that the first factor, distance to existing assisted rental housing (400 feet or approximately one city block from existing subsidized and assisted rental housing), is somewhat subjective and just made up to have a starting point. He stated he believes that 400 feet or approximately one city block from existing subsidized and assisted rental housing is too restrictive and a city block with two units of subsidized rental housing in not a detriment. Therefore the reason he wanted to see the data with single family and duplexes exempt was to see how that first factor would be affected. Ackerson stated he took out of the mix the single family unit properties and duplexes (any parcel that has two units). The Commission discussed the maps and the difference between the maps with the single family unit properties and duplexes and without. Ackerson noted that at the time of the creation of the map they were unable to map housing density which is important because if there is a single unit on a city block with single family dwellings around it is one out of ten homes, but if it is a condo unit, it could be one out of 48 units in that same area. However they learned this week that all of the rental permits have the parcel number attached so it is now more possible to address density. Byler explained that the City Attorney has instructed the Commission to look at the three goals and then apply the criteria to determine an affordable housing location model. Byler agreed that there shouldn't be a group of single family homes all grouped together, but perhaps the first factor could use a percentage (rather than area or feet) of density (i.e. the maximum percentage of density is ten percent). Persson noted that in the Riverfront Crossings area the City agreed that ten percent of the units had to be affordable so why not use ten percent for all areas. Byler agreed and originally thought they should go with a neighborhood approach following the school district maps, but now doesn't think that is the right approach. Hightshoe suggested that Staff go back and use the density data from the rental permit and GIS software and give a better overview using density criteria and not distance. Seiple questioned if there have been any meetings with the school district regarding these maps and the goals and factors. Hightshoe said there have not been specific conversations with the Superintendent, noting that the model has not reduced concentrations of poverty, rather it prevents the City from adding to existing concentrations of poverty, so they have achieved that goal. Persson asked about the change in school district boundaries over time. Hightshoe said they do modify the map every year based on school district changes. Byler noted that the school district changes their maps based on minimizing busing and maximizing walkability, not on balancing social economics at the elementary level. The Commission discussed the school district boundaries and the map criteria. Ackerson noted that people liked the current approach because it takes into account different factors that don't have the same boundaries, which is difficult to do without GIS mapping. For example the boundary of the median income map doesn't align with the school district boundaries. McKinstry supports the goal that every neighborhood offer mixed housing, but that is a counter -cultural message because people tend to choose to live by other people that are exactly like them. Having all the data is very necessary to justify the plan moving forward. Ackerson said there is now also new data (that other cities are using) that could be included in a new model/map such as location to parks, transit stops, and other such options. Housing and Community Development Commission December 15, 2016 Page 4 of 6 Conger stated that the current model has not been in place very long and is leery of introducing a model based solely on school district data. Olmstead noted that when talking about affordable housing it is important to recognize the people that will be renting houses and the need for things like transportation to get to their job and such. Therefore having a map that shows the transit routes would be beneficial. Ackerson will research the data and bring the list of data to the Commission for review and decision on what the map criteria should be based on. Once the criteria are decided upon, Ackerson will add that data into the map for review. MEMO (9114116) FROM AFFORDABLE HOUSING COALITION TO CITY COUNCIL: Seiple asked for this agenda item to discuss funding and land banking and what are the next steps. Hightshoe said she talked with area affordable housing organizations and their recommendation was to start looking for land once the City had $600,000 to $750,000 available to buy a few acres somewhere. So that money will need to be accumulated. Then once the City has land that can be developed and properly zoned, she doesn't feel there will be any problem finding a developer. Byler asked whether there was any discussion of the City selling bonds to acquire the land so we don't have to wait to accumulate the funds. Hightshoe said that has not been discussed in Council yet, but the City maybe up to $450,000 if $200,000 is not applied to the FYI CDBG/HOME round. Staff will be discussing at what point the City should hire a realtor and begin the process to identify possible sites. Staff has had conversations with some landowners, but all is extremely preliminary. Seiple recommended hiring a realtor to purchase land based on the expectation of buying the land with bonds that are paid for by future budgeted land banking funds. Olmstead seconded the motion. A vote was taken and the motion carried 8-0. FY18 CDBG/HOME AND AID TO AGENCIES FUNDING TIMELINE: Ackerson stated the first thing is the Aid of Agencies applications, they will be sent out tomorrow (the link is already online). The timeline of the process is included in the Commissioners' packets. Hightshoe noted that depending on when they receive their budget for HOME and CDBG, the Commission may have to create a contingency allocation plan based on funds available. ALTERNATIVE MEETING TIME AND/OR LOCATION: With regards to location, Persson noted that some locations are harder to hear and that can be a problem for the Commissioners as well as guests. It is best to meet in rooms where there are microphones, especially if there are lots of people. Ackerson said it would be nice to have one standard location so there isn't confusion and the Senior Center is available at the current Thursday time. An issue with that space is the screen projection. Persson asked about the Public Library spaces. Ackerson said those rooms are very popular for meetings and it is hard to get a standing meeting scheduled in those rooms. Ackerson suggested that the Commission could use Harvat Hall if they changed their meeting day to the second Tuesday of every month. Ackerson will email the Commission to see their preferences, and may need to update the bylaws of the Commission. Housing and Community Development Commission December 15, 2016 Page 5 of 6 CORRESPONDENCE: Olmstead shared a memo that was included in the meeting packet. No future discussion or information was added. STAFF/COMMISSION COMMENT Ackerson mentioned that Charm Homes (who received FY16 funds) will not be proceeding with their project so the $61,000 will be added into the CBDG fund for reallocation. The City will be issuing a RFP from nonprofits to do energy efficiency projects in their facilities (lighting, windows, heating/cooling). There will an information meeting regarding this after the New Year and they will be applying for funds in January and February. Ackerson noted commissioners are invited to the dedication to the Habitat Home on Prairie Du Chien (the Pat Heiden Women Build home) on Saturday, December 17 at 10:00 a.m. Hightshoe noted that the developer that is doing the affordable senior housing at Towncrest will have the closing next week and the demolition permit has been received. Construction will start this spring. Also, the Invest Health grant the City received is focusing on three neighborhoods (Town and Campus Apartments, Hilltop Mobile Home Park, and Taylor/Broadway areas). ADJOURNMENT: Olmstead moved to adjourn. Persson seconded the motion. Meeting adjourned. Housing and Community Development Commission Attendance Record Name Terms Exp. 1/21 1/21 2/18 3/10 4/21 5/19 6/16 8/18 9/15 10/20 11/17 12/15 Byler, Peter 7/1/17 X X X X X X X X X X X X Conger, Syndy 7/1/18 X X X O/E X O/E O/E X X X X X Harms, Christine 7/1/19 --- --- --- --- --- X X X X X X X Lamkins, Bob 7/1/19 X X X X O/E X O/E O/E X O/E X O/E McKinstry, John 7/1/17 --- --- --- --- --- X X O/E O/E X X X Olmstead, Harry 7/1/18 X X X X X X X X X O/E j X X Persson, Dottie 7/1/17 X X O/E X O/E X X X X X X X Seiple, Emily 7/1/18 X X X X X X X X X X X X Vaughan, Paula 7/1/19 --- --- --- --- --- --- --- X X O/E X X Key: X = Present O = Absent O/E = Absent/Excused --- = Vacant 1 01-19- IP9 Minutes DRAFT Human Rights Commission January 17, 2017 Metropolitan Planning Organization of Johnson County Office Members Present: Eliza Willis, Jeff Falk, Shams Ghoneim, Adil Adams, Kim Hanrahan, Joe D. Coulter, Barbara Kutzko, Andrea Cohen. Staff Present: Stefanie Bowers. Others Present: Emily Bothell, Tracy Hightshoe, Henri Harper, David Schwindt, Michelle Hoehne, Carla Phelps, Rafael Morataya, Tracey Achenbach. Recommendations to City Council: No. Call to Order: Ghoneim called the meeting to order at 5:30 pm. Approval of December 20, 2016 Minutes: Coulter moved to approve the minutes; the motion was seconded by Hanrahan. A vote was taken and the motion passed 8-0. Election of Officers for 2017: Deferred to February 21, 2017 meeting date. Hanrahan moved to defer; the motion was seconded by Coulter. A vote was taken and the motion passed 8-0. Funding Request Night of 1000 Dinners: The Night of 1000 Dinners is sponsored by the Johnson County Chapter of the United Nations Association. This year, proceeds from the event will be donated to Adopt -a -Future, a project for refugee schools in Kenya to prevent a lost generation. Coulter moved to approve the funding request for $250; the motion was seconded by Kutzko. A vote was taken and the motion passed 7-0. (Cohen abstained citing conflict of interest). Social Justice and Racial Equity Grant Applications: Commissioners discussed whether to allow public comment during the discussion of the applications. Coulter moved to restrict any public comment by applicants , the motion was seconded by Willis. A vote was taken and the motion failed 2-6. (Kutzko, Hanrahan, Adams, Falk, Willis, and Cohen in the negative). Willis moved to allow applicants to comment if Commissioners had questions concerning their application; the motion was seconded by Adams. A vote was taken and the motion passed 6-2. (Ghoneim and Coulter in the negative). Commissioners discussed how to review the nine applications received for fiscal year 2017. Cohen moved to review each application one by one; the motion was seconded by Adams. A vote was taken and the motion passed 8-0. The grants were discussed in the following order: Sankofa Outreach Connection, Inside Out Reentry, Inc., Successful Living, City of Iowa City Parks and Recreation Department, City of Iowa City with World of Bikes, and Iowa City Bike Library, Johnson County Affordable Housing Coalition, and Center for Worker Justice of Eastern Iowa. United Action for Youth and Iowa Legal Aid were deferred to the Wednesday, January 25, 2017 meeting date. The decision to defer allowed Commissioners to ask questions of those applicants that were present at the meeting. Each Commissioner will rank each application (1 being highest and 9 being lowest) in preparation for the meeting on Wednesday, January 25, 2017. The ranking by each Commissioner will exclude the funding amount requested. Budgetary considerations will be discussed after a majority of the Commission has agreed on a ranking order for the applicants. A meeting was set for Wednesday, January 25, 2017 from 5:15 — 7:15. Staff will arrange a meeting space Adjournment: 7:30 PM. Human Rights Commission Attendance Record Key X = Present O = Absent O/E = Abseat/Excused R = Resigned --- = Vacant TERM 2/16 3/15 4/18 5/17 6/21 7/7 7/19 8/16 9/20 10/18 11/15 12/20 1/17/ NAME EXP. 16 16 16 16 16 16 16 16 16 16 16 16 17 Barbara 1/1/2020 --- --- -- --- -- --- -- —_ -- X X X X Kutzko Jeff Falk 1/1/2020 -- -- --- -- --- D'Angelo 1/1/2020 --- -- -- -- -- __ —_ — X X O/E R Bailey Joe D. Coulter 1/1/2019 X X X O/E X X O/E X O/E X X X X Adi1D. 1/1/2019 O O/E O X X X X X X X X X X Adams Eliza Jane 1/1/2019 O/E X X X X X X X X X X X X Willis Andrea Cohen 1/1/2018 X X X X X X X X X X X O/E X Kim 1/1/2018 X WE X X X X X O X X X X X Hanrahan Shams (/1/2018 X X X X X X X X X X O/E X X Ghoneim Key X = Present O = Absent O/E = Abseat/Excused R = Resigned --- = Vacant