(A) The provisions of this section apply to the Downtown River Lyons Urban Renewal Area, the area having been identified in the urban renewal plan approved by the Council by resolution adopted on May 26, 2020. For use in this section, the following areas are described:
Beginning at the 26th Avenue North Right of Way at the Mississippi River levee, then extending westerly along 26th Avenue North to McKinley Street, then extending southerly along McKinley Street to 25th Avenue North, then extending westerly along 25th Avenue North to North 4th Street, then extending northerly along North 4th Street to 26th Avenue North, thence westerly, and in a clockwise manner, along the southerly lines of a tract of land conveyed to North End Holdings LLC by a Warranty Deed (filed with the Clinton County Recorder on September 17, 2019 as Document No. 2019-06104); as located in the south half of Section 30, Township 82 North, Range 7 East of the 5th P.M.; beginning at a point on the westerly line of North 4th Street being 37.4 feet southwesterly of its intersection with the northerly line of 26th Avenue North; thence South 89 degrees 55 minutes 30 seconds West, a distance of 423.25 feet; thence South 00 degrees 07 minutes 50 seconds East, a distance of 406.48 feet to the northerly line of 25th Avenue North; thence along said northerly line, North 85 degrees 22 minutes 20 seconds West, a distance of 147.70 feet; thence continuing along said northerly line, South 89 degrees 57 minutes 40 seconds West, a distance of 653.60 feet; thence North 00 degrees 05 minutes 00 seconds West, a distance of 507.85 feet; thence South 89 degrees 57 minutes 00 seconds West, a distance of 653.10 feet to the easterly line of North 9th Street; thence continuing in a clockwise manner along the westerly and northerly lines of said tract, North 00 degrees 05 minutes 00 seconds West, a distance of 330.97 feet; thence North 89 degrees 56 minutes 20 seconds East, a distance of 658.53 feet; thence North 00 degrees 05 minutes 00 seconds West, a distance of 427.67 feet to the southerly line of 28th Avenue North; thence 17.33 feet along the arc of 302.12-foot radius curve, concave southerly; thence continuing along said southerly line of 28th Avenue North for the next three (3) courses: North 89 degrees 56 minutes 00 seconds East, a distance 788.28 feet; North 00 degrees 04 minutes 00 seconds East, a distance of 5.00 feet; North 89 degrees 56 minutes 00 seconds East, a distance of 425.66 feet to the easterly line of said tract and the westerly line of North 4th Street; thence northerly along said westerly line of North 4th Street, a distance of 35.00 feet to the northerly line of 28th Avenue North and the southerly line of a tract of land held in fee title by the Clinton Community School District; thence westerly along said northerly line of 28th Avenue North, a distance of 222 feet, more or less, to the easterly line of Skyline First Addition, thence northerly along said easterly line, a distance of 142.75 feet to the northerly line of said Addition; thence along said northerly line for the next three (3) courses: Westerly, a distance of 1,312.56 feet; Northerly, a distance of 84.8 feet; Westerly, a distance of 380 feet, more or less, to an easterly line of a tract of land held in fee title by Delbert G. and Donna Licht; thence northerly along said easterly line of the Licht tract, a distance of 620 feet, more or less, to the south line of a tract of land held in fee title by Robert E. and Marlene F. Lilly, per the Warranty Deed filed as Document Number 5534-93, recorded on August 11, 1993; thence easterly along the southerly line of said Lilly tract, a distance of 328.9 feet, more or less, to the southwest corner of Meadowview Heights 5th Subdivision to the City of Clinton; thence easterly along the southerly line of said Subdivision, and its easterly extension, and along the southerly line of Meadowview Heights 2nd Subdivision, a distance of 1,287 feet, more or less, to the westerly line of Meadowbrook Terrace Subdivision; thence southerly along said westerly line of Meadowbrook Terrace Subdivision, a distance of 620 feet, more or less, to the southerly line of said Subdivision, thence easterly along said southerly Subdivision line, a distance of 223.10 feet to the westerly line of North 4th Street; then southerly along said westerly line of North 4th Street, a distance of 239 feet, more or less, to the southerly line of said School District tract; thence continuing southerly along the westerly line of said North 4th Street, a distance of 35 feet to the northerly line of said North End Holdings tract; thence continuing southerly along the westerly line of said North 4th Street, a distance of 842.15 feet to the intersection of 26th Avenue North, thence southerly on North 4th Street to 25th Avenue North, then extending easterly on 25th Avenue North to North 3rd Street, then extending southerly along North 3rd Street to 21st Avenue North, then extending easterly along 21st Avenue North to Pershing Blvd, then extending southerly along Pershing Blvd to 18th Avenue North, then extending easterly along 18th Avenue North to the alley between Pershing Blvd and North 2nd Street, then extending southerly along alley to 5th Avenue North, then extending westerly along 5th Avenue North to North 5th Street, then extending southerly along South 5th Street to 11th Avenue South, then extending easterly along 11th Avenue South to South 4th Street, then extending northerly along South 4th Street to 8th Avenue South, then extending easterly along 8th Avenue South to the Mississippi River levee. From 8th Avenue South, the area follows the Mississippi River levee northerly to the point of beginning. Also included within this URA shall be the islands known as Joyce's Island and Willow Island which is situated between Joyce Slough and the Mississippi River on the east side of the Mississippi River levee between Riverview Drive and 19th Avenue North.
AND
Including the full right of way of all public roads or streets within the above area or forming the boundary of the area or connecting any parcels within the area.
AND
Excepting the following property which is not included in this Urban Renewal Area:
CHI Parcel
Lot 16 and the east 20 feet of lot 15 in block 31 in the Plat known as the "Town of Clinton" within the City of Clinton, Clinton County, Iowa.
AND
A tract or parcel of land described as Church Lot I according to the Plat known as the "Town of Clinton" within the City of Clinton, Clinton County, Iowa.
AND
A tract or parcel of land described as School Lot H according to the Plat known as the "Town of Clinton" within the City of Clinton, Clinton County, Iowa.
AND
VAC 20' X 140' ALLEY ABTG LOT 16 BLK 31
Clinton County Parcel # 80-17570000
AND
Fourth Avenue Lofts Parcel
Lot 1 in Final Plat for Fourth Avenue Lofts Subdivision, an Official Plat, now included in and forming a part of the City of Clinton, Clinton County, Iowa
Clinton County Parcel # 80-4892-0003
(B) The taxes levied on the taxable property in the urban renewal project area known as the Downtown River Lyons Urban Renewal Area, by and for the benefit of the state, the city, the county, the Clinton Community School District and all other taxing districts, from and after the effective date of this section, shall be divided as follows:
(1) The portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts upon the total sum of the assessed value of the taxable property in the Urban Renewal Area, as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the city certifies to the County Auditor the amount of loans, advances, indebtedness, or bonds payable from the division of property tax revenue described herein, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for the taxing district into which all other property taxes are paid;
(2) The portion of the taxes each year in excess of the base period taxes determined as provided in division (B)(1) above shall be allocated to and when collected be paid into a special tax increment fund hereby established to pay the principal of and interest on loans, monies advanced to, indebtedness, whether funded, refunded, assumed or otherwise, including bonds or obligations issued under the authority of Iowa Code §§ 403.9 or 403.12, as amended, incurred by the city to finance or refinance, in whole or in part, urban renewal projects undertaken within the Urban Renewal Area pursuant to the Urban Renewal Plan, except that (a) taxes for the regular and voter-approved physical plant and equipment levy of a school district imposed pursuant to Code of Iowa § 298.2 and taxes for the instructional support program of a school district imposed pursuant to Code of Iowa § 257.19 (but in each case only to the extent required under Code of Iowa § 403.19(2)); (b) taxes for the payment of bonds and interest of each taxing district; (c) taxes imposed under Iowa Code § 346.27(22), related to joint county-city buildings; and (d) any other exceptions under Iowa Code § 403.19 shall be collected against all taxable property within the Urban Renewal Area without any limitation as hereinabove provided;
(3) Unless or until the total assessed valuation of the taxable property in the Urban Renewal Area exceeds the total assessed value of the taxable property in the Urban Renewal Area as shown by the assessment roll referred to in division (B)(1) above, all of the taxes levied and collected upon the taxable property in the Urban Renewal Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes; and
(4) At such time as the loans, advances, indebtedness, bonds and interest thereon of the city referred to in division (B)(2) above have been paid, all monies thereafter received from taxes upon the taxable property in the Urban Renewal Area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property.
(Ord. 2642, passed 5-26-2020; Ord. 2642-A, passed 12-22-2020)