(A) The provisions of this section apply to the City Housing Partnership Urban Renewal Project Area, the area having been identified in the urban renewal plan approved by the Council by resolution adopted by Ordinance 2082. Additional territory now has been added to the City Housing Partnership Urban Renewal Project Area. Indebtedness has been incurred by the city, and additional indebtedness is anticipated to be incurred in the future, to finance urban renewal project activities within the amended City Housing Partnership Urban Renewal Project Area, and the continuing needs of redevelopment within the amended City Housing Partnership Urban Renewal Project Area are such as to require the continued application of the incremental tax resources of the amended City Housing Partnership Urban Renewal Project Area.
(B) Ordinance 2082 is hereby amended to read as follows:
(1) For purposes of this section, the following terms shall have the following meanings.
ORIGINAL PROJECT AREA. The portion of the city described in the urban renewal plan for the City Housing Partnership Urban Renewal Area approved by resolution on February 25, 1997, which original project area includes the lots and parcels located within the area legally described as follows:
Ridgeview Manor: the northwest quarter of the southwest quarter and the west half of the northwest quarter of Section 1, Township 81 North Range 6, East of the 5th P.M., excepting therefrom those portions of said land platted as Galbraith Acres First, Second, Third, Fourth and Fifth Additions in the City of Clinton, Iowa. Also, all that part of Outlot D of said Galbraith Acres First Addition lying northerly from the north line of Lot One, Block Seven in said Galbraith Acres Second Addition, in the City of Clinton, Clinton County, Iowa.
AMENDMENT NO. 1 AREA. The portion of the city described in Amendment No. 1 to the Urban Renewal Plan for the City Housing Partnership Urban Renewal Area approved by Resolution 98-066 on February 10, 1998, which Amendment No. 1 Area includes the lots and parcels located within the area legally described as follows:
Millcreek Highland Subdivision: part of the east half of the northwest quarter of Section 11, Township 81 North, Range 6 East of the 5th P.M., City of Clinton, County of Clinton, State of Iowa, more particularly described as follows:
Commencing at the northwest corner of the northwest quarter of said Section 11; thence north 81°41'31" east on the north line of said northwest quarter, 1325.44', to the west line of the northeast quarter of the northwest quarter of said Section 11; thence south 00°02'35" east on said west line, 993.31 feet to the north line of the south half of the southwest quarter of the northeast quarter of the northwest quarter of said Section 11 and the point of beginning; thence north 89°46'19" east of the north line of the south half of the southwest quarter of the northeast quarter of the northwest quarter of said Section 11, a distance of 662.44 feet to the east line of said south half; thence south 00°02'41" east on said west line, 6.89 feet; thence south 89°59'59" east, 2.45 feet to the northwest corner of Mill Creek Heights Subdivision; thence south 00°01'38" east on the west line of said Mill Creek Heights Subdivision, 336.95 feet, to the southwest corner of said Mill Creek Heights Subdivision; thence south 89°53'03" east on the south line of said Mill Creek Heights Subdivision, 362.00 feet; thence south 00°03'32" west, 321.20 feet, to the south line of the north half of the northeast quarter of the southeast quarter of the northwest quarter of said Section 11; thence south 89°59'44" west on said south line, 364.07 feet, to the west line of the northeast quarter of the southeast quarter of the northwest quarter of said Section 11; thence south 00°01'38" east on said west line, 328.43 feet, to the south line of the northwest quarter of the southeast quarter of the northwest quarter of said Section 11, thence south 89°51'07" west on said south line, 662.10 feet, to the west line of the northwest quarter of southeast quarter of the northwest quarter of said Section 11, thence north 00°02'15" west on said west line, 662.21 feet, to the northwest corner of the northwest quarter of the southeast quarter of the northwest quarter of said Section 11, thence north 00°03'59" west on the west line of the southwest quarter of the northeast quarter of the northwest quarter of said Section 11, a distance of 331.10 feet, to the point of beginning, containing 17.817 acres more or less.
For the purposes of this description, the north line of the northwest quarter of the northwest quarter of Section 11 is assumed to bear north 89°46'19" east.
AMENDMENT NO. 2 AREA. The portion of the city described in Amendment No. 2 to the Urban Renewal Plan for the City Housing Partnership Urban Renewal Area approved by resolution on June 12, 2007, which Amendment No. 2 Area removes the original project area (Ridgeview) as described above, and includes the lots and parcels located within the area legally described as follows:
Town and Country Manor: a part of the northwest quarter and a part of the west one-half of the northeast quarter, all in Section 2, Township 81 North, Range 6 East of the 5th P.M., within the city of Clinton, Clinton County, Iowa, more particularly described as:
Commencing as a point of beginning at the southeast corner of the said northwest quarter of Section 2; thence south 87°129'07" west, along the south line of the said northwest quarter of Section 2, a distance of 1987.94 feet to the southwest corner of the east one-half of the west one-half of the said northwest quarter of Section 2; thence north 02°13'42" west, along the west line of the said east one-half of the west one-half of the northwest quarter of Section 2, a distance of 2284.19 feet to the south line of Lot 1 of Country Place First Subdivision in said City of Clinton; thence north 87°25'34" east, along the said south line of Lot 1, a distance of 11.78 feet to the southeast corner of said Lot 1; thence north 01°54'29" west, along the east line of said Lot 1, a distance of 424.18 feet to the north line of the said northwest quarter of Section 2; thence north 87°25'34" east, along the said north line of the northwest quarter of Section 2, a distance of 1973.37 feet to the northeast corner of the northwest quarter of Section 2; thence south 02°14'15" east, a distance of 887.81 feet; thence north 87°25'15" east, parallel to and 887.81 feet distant south to the north line of the northeast quarter of said Section 2, a distance of 1324.69 feet to the east line of the said west one-half of the northeast quarter of Section 2; thence south 02°13'38" east, along the said east line of the west one-half of the northeast quarter of Section 2, a distance of 1823.60 feet to the southeast corner of the said west one-half of the northeast quarter of Section 2; thence south 87°27'54" west, along the south line of the said west one-half of the northeast quarter of Section 2, a distance of 1324.36 feet to the point of beginning.
Except: the land owned by Reemark Properties, LLC per warranty deed at instrument number 1132-06, office of Clinton County Recorder; described as: commencing at the center of Section 2,
Township 81 North, Range 6 East of the 5th P.M.; thence south 87°45'35" west a distance of 50.00 feet to the west right-of-way line of North Eighteenth Street; thence north 02°14'25" west along the west right- of-way line of North Eighteenth Street a distance of 705.69 feet to the point of beginning; thence north 02°14'25" west along the right-of-way line a distance of 407.50 feet; thence north 16°36'58" west, 198.19 feet; thence north 48°46'08" west 184.93 feet; thence south 30°09'00" west 311.93 feet; thence south 33°39'12" west, 265.95 feet; thence south 18°50'47" west 335.00'; thence south 23°10'56" west, 310.42 feet; thence north 82°11'09" east, 183.85 feet; thence south 86°42'36" east, 80.00 feet; thence north 51°06'24" east, 390.00'; thence north 58°49'50" east, 211.06 feet to the point of beginning.
AMENDED PROJECT AREA. The portion of the city included within the original project area and the Amendment No. 1 Area, which amended project area includes the lots and parcels located within the area legally described as follows:
Millcreek Highland Subdivision: part of the east half of the northwest quarter of Section 11, Township 81 North, Range 6 East of the 5th P.M., City of Clinton, County of Clinton, State of Iowa, more particularly described as follows:
Commencing at the northwest corner of the northwest quarter of said Section 11; thence north 81°41'31" east on the north line of said northwest quarter, 1325.44 feet, to the west line of the northeast quarter of the northwest quarter of said Section 11; thence south 00°02'35" east on said west line, 993.31 feet to the north line of the south half of the southwest quarter of the northeast quarter of the northwest quarter of said Section 11 and the point of beginning; thence north 89°46'19" east of the north line of the south half of the southwest quarter of the northeast quarter of the northwest quarter of said Section 11, a distance of 662.44 feet to the east line of said south half; thence south 00°02'41" east on said west line, 6.89 feet; thence south 89°59'59" east, 2.45 feet to the northwest corner of Mill Creek Heights Subdivision; thence south 00°01'38"east on the west line of said Mill Creek Heights Subdivision, 336.95 feet, to the southwest corner of said Mill Creek Heights Subdivision; thence south 89°53'03" east on the south line of said Mill Creek Heights Subdivision, 362.00 feet; thence south 00°03'32" west, 321.20', to the south line of the north half of the northeast quarter of the southeast quarter of the northwest quarter of said Section 11; thence south 89°59'44" west on said south line, 364.07 feet, to the west line of the northeast quarter of the southeast quarter of the northwest quarter of said Section 11; thence south 00°01'38" east on said west line, 328.43 feet, to the south line of the northwest quarter of the southeast quarter of the northwest quarter of said Section 11, thence south 89°51'07" west on said south line, 662.10 feet, to the west line of the northwest quarter of southeast quarter of the northwest quarter of said Section 11, thence north 00°02'15" west on said west line, 662.21 feet, to the northwest corner of the northwest quarter of the southeast quarter of the northwest quarter of said Section 11, thence north 00°03'59" west on the west line of the southwest quarter of the northeast quarter of the northwest quarter of said Section 11, a distance of 331.10 feet, to the point of beginning, containing 17.817 acres more or less.
For the purposes of this description, the north line of the northwest quarter of the northwest quarter of Section 11 is assumed to bear north 89°46'19" east.
Town and Country Manor: a part of the northwest quarter and a part of the west one-half of the northeast quarter, all in Section 2, Township 81 North, Range 6 East of the 5th P.M., within the city of Clinton, Clinton County, Iowa, more particularly described as:
Commencing as a point of beginning at the southeast corner of the said northwest quarter of Section 2; thence south 87°29'07" west, along the south line of the said northwest quarter of Section 2, a distance of 1987.94 feet to the southwest corner of the east one-half of the west one-half of the said northwest quarter of Section 2; thence north 02°13'42" west, along the west line of the said east one-half of the west one-half of the northwest quarter of Section 2, a distance of 2284.19 feet to the south line of Lot 1 of Country Place First Subdivision in said City of Clinton; thence north 87°25'34" east, along the said south line of Lot 1, a distance of 11.78 feet to the southeast corner of said Lot 1; thence north 01°54'29" west, along the east line of said Lot 1, a distance of 424.18 feet to the north line of the said northwest quarter of Section 2; thence north 87°25'34" east, along the said north line of the northwest quarter of Section 2, a distance of 1973.37 feet to the northeast corner of the said northwest quarter of Section 2; thence south 02°14'15" east, a distance of 887.81 feet; thence north 87°25'15" east, parallel to and 887.81 feet distant south to the north line of the northeast quarter of said Section 2, a distance of 1324.69 feet to the east line of the said west one-half of the northeast quarter of Section 2; thence south 02°13'38" east, along the said east line of the west one-half of the northeast quarter of Section 2, a distance of 1823.60 feet to the southeast corner of the said west one-half of the northeast quarter of Section 2; thence south 87°27'54" west, along the south line of the said west one-half of the northeast quarter of Section 2, a distance of 1324.36 feet to the point of beginning.
Except: the land owned by Reemark Properties, LLC per warranty deed at instrument number 1132-06, office of Clinton County Recorder; described as: commencing at the center of Section 2, Township 81 North, Range 6 East of the 5th P.M.; thence south 87°45'35" west a distance of 50.00 feet to the west right-of-way line of North Eighteenth Street; thence north 02°14'25" west along the west right-of-way line of North Eighteenth Street a distance of 705.69 feet to the point of beginning; thence north 02°14'25" west along the right-of-way line a distance of 407.50 feet; thence north 16°36'58" west, 198.19 feet; thence north 48°46'08" west 184.93 feet; thence south 30°09'00" west 311.93 feet; thence south 33°39'12" west, 265.95 feet; thence south 18°50'47" west 335.00 feet; thence south 23°10'56" west, 310.42 feet; thence north 82°11'09" east, 183.85 feet; thence south 86°42'36" east, 80.00 feet; thence north 51°06'24" east, 390.00 feet; thence north 58°49'50" east, 211.06 feet to the point of beginning.
(B) The taxes levied on the taxable property in the amended project area, legally described in division (A) above, by and for the benefit of the state, city, county, Clinton Community School District and all other taxing districts from and after the effective date of this section shall be divided as follows:
(1) As a result of Amendment No. 2, the original project area has been removed;
(2) As to Amendment No. 1 Area, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 1997, being the assessment roll applicable to property in such area as of January 1 of the calendar year preceding the effective date of this section;
(3) As to Amendment No. 2 Area, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll as of January 1, 2006, being the assessment roll applicable to property in the area as of January 1 of the calendar year preceding the effective date of this section;
(4) The portion of the taxes each year in excess of the base period taxes for the amended project area, determined for each sub-area thereof as provided in division (B)(3) above, shall be allocated to and when collected be paid into the special tax increment fund previously established by the city to pay the principal of and interest on loans, moneys advanced to, or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under authority of Iowa Code § 403.9 or § 403.12, incurred by the city to finance or refinance, in whole or in part, urban renewal projects undertaken within the amended project area pursuant to the urban renewal plan, as amended, except that taxes for the regular and voter-approved physical plant and equipment levy of a school district imposed pursuant to Iowa Code § 298.2, but only to the extent authorized in Iowa Code § 403.19(2), and taxes for payment of bonds and interest of each taxing district shall be collected against all taxable property within the amended project area without any limitation as hereinabove provided;
(5) Unless or until the total assessed valuation of the taxable property in the areas of the amended project area exceeds the total assessed value of the taxable property in the areas shown by the assessment rolls referred to in division (B)(3) above, all of the taxes levied and collected upon the taxable property in the amended project 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
(6) At the time as the loans, moneys advanced, bonds and interest thereon and indebtedness of the city referred to in division (B)(4) above have been paid, all monies thereafter received from taxes upon the taxable property in the amended project area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property.
(Ord. 2082, passed 7-28-1998; Ord. 2359, passed 11-27-2007)