Grinnell FINANCE COMMITTEE Meeting MONDAY, AUGUST 21, 2017 AT 7:00 A.M. IN THE LARGE CONFERENCE ROOM ON THE 2 ND FLOOR OF THE CITY HALL

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1 TENTATIVE AGENDA ROLL CALL: Wray, White, Hansen. Grinnell FINANCE COMMITTEE Meeting MONDAY, AUGUST 21, 2017 AT 7:00 A.M. IN THE LARGE CONFERENCE ROOM ON THE 2 ND FLOOR OF THE CITY HALL PERFECTING AND APPROVAL OF AGENDA: COMMITTEE BUSINESS: INQUIRIES: ADJOURNMENT 1. Consider special Campbell Fund request from the St. Francis Manor. 2. Presentation from William J. Ludwig and Associates. 3. Consider letter of support for Sapphire Lake. 4. Consider approval of proposal for audio visual equipment for City Hall. 5. Consider approval of resolution authorizing the Mayor and City Clerk to sign the Regional Sports Authority District Grant Agreement between the city of Grinnell and Iowa Economic Development Authority (See Resolution No ).

3 CITY OF GRINNELL 927 4th Avenue Grinnell, IA Phone: Fax: MAYOR GORDON R. CANFIELD CITY COUNCIL BYRON HUEFTLE- WORLEY At Large JIM WHITE At Large JULIE HANSEN 1st Ward JO WRAY 2nd Ward RACHEL BLY 3rd Ward SONDRA BURNELL 4th Ward ADMINISTRATION RUSSELL L. BEHRENS City Manager grinnelliowa.gov P. KAY CMELIK City Clerk/Finance Officer WILLIAM J. SUEPPEL City Attorney Visit us at August 21, 2017 Mr. Ron Lang Mr. Vince Johnson Sapphire Lake Development Re: Sapphire Lake Development Dear Mr. Lang and Mr. Johnson: You have contacted the City to explore options to construct a lake and related development in or near the City of Grinnell. The City views the project favorably but, at the same time, is mindful of the extensive infrastructure costs necessary to support a development of the magnitude you are proposing. The Council is also mindful of the legislative and legal requirements that must be satisfied before any binding commitment can be made with respect to City participation related to the project. If plans for the development are taken to a stage where construction appears to be viable, the City intends to initiate the appropriate legal process to establish an urban renewal area for this project. Adoption of the plan requires a vote on a resolution after a public hearing and consultation process with the County, local school district and community college. Since the area is within two miles of the City, we will also need the approval of Poweshiek County, as the City s authority is limited by City boundaries. If the urban renewal plan is duly adopted, the Council would also consider an ordinance required under Iowa Code Section Again, a vote on the ordinance is required. Finally, if the plan and ordinance are adopted, the Council would hold a hearing and then vote on a resolution to authorize entry into a development agreement outlining the participation of the City and the obligations of the developer(s). City participation in this project will most likely be limited to urban renewal tax increments created by the development, and will be limited to the construction of certain public improvements needed in connection with the project. At this time, there appears to be support from the City to utilize the tax increment revenue from the newly created urban renewal areas to assist with the development of this project and the betterment of the Grinnell community.

4 With respect to public improvements related to housing and residential development, the division of revenue is limited in time, so it may be necessary to establish multiple projects and complete the infrastructure in phases. Thus, commitment for the development levels in each particular phase is a necessary pre-requisite to formal Council consideration of City participation. In your analysis, please remember the City will have to reserve a portion of the tax increments generated to fulfill its obligations under Iowa Code Section with respect to Low and Moderate Income Housing. Again, this letter only outlines an approach for planning and analysis purposes. The Council cannot at this time bind the City of Grinnell to any particular outcome for the legislative process needed for adoption of the urban renewal plan, the ordinance for the division of revenue, or for approval of the development agreement. Similarly, if City participation in the project requires the issuance of bonds or notes, the appropriate legal process and legislative consideration will be followed. We encourage you to provide information concerning your plans, financing arrangements and development schedule so we may give formal consideration to your project. Very truly yours, Mayor Gordon R. Canfield As directed by the Grinnell City Council

26 RESOLUTION NO A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN THE REGIONAL SPORTS AUTHORITY DISTRICT GRANT AGREEMENT BETWEEN THE CITY OF GRINNELL AND IOWA ECONOMIC DEVELOPMENT AUTHORITY (IEDA). WHEREAS, the city of Grinnell has been awarded the Regional Sports Authority District (RSAD) in the amount of $50,000; and WHEREAS, the city of Grinnell and the Iowa Economic Development Authority have reviewed and agreed to the terms and conditions within the Regional Sports Authority District (RSAD) grand agreement; and NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRINNELL that authorization be given to Mayor Canfield to sign the Regional Sports Authority District grant agreement between the city of Grinnell and Iowa Economic Development Authority Program Contract. PASSED AND APPROVED THIS 21st day of August, ATTEST: GORDON R. CANFIELD, MAYOR P. KAY CMELIK, CITY CLERK

Second Amendment to the Urban Renewal Plan for the Ingersoll-Grand Commercial Urban Renewal Area

Second Amendment to the Urban Renewal Plan for the Ingersoll-Grand Commercial Urban Renewal Area Prepared by: Carrie Kruse, Office of Economic Development, 400 Robert D. Ray Drive, Des Moines, IA 50309 Phone: 515/283-4012 Return Address: City Clerk City Hall, 400 Robert D. Ray Drive, Des Moines, IA