Ordinances-2017-400 - 2017 Park Place Urban Renewal Area

S05°24'45"E, ALONG SAID WEST RIGHT-OF-WAY LINE, 401.12 FEET; THENCE S12°26'00"E, ALONG SAID WEST RIGHT-OF-WAY LINE, 203.96 FEET; THENCE S01°07'24"E, ALONG SAID WEST RIGHT-OF-WAY LINE, 300.00 FEET; THENCE S13°48'29"W, ALONG SAID WEST RIGHT-OF-WAY LINE, 310.48 FEET; THENCE S16°03'17"E, ALONG SAID WEST RIGHT-OF-WAY LINE, 158.10 FEET, TO ITS INTERSECTION WITH THE SOUTH LINE OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 27, TOWNSHIP 80 NORTH, RANGE 7 WEST, OF THE FIFTH PRINCIPAL MERIDIAN; THENCE S89°20'11"W, ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER OF THE NORTHEAST QUARTER, 1148.78 FEET, TO THE SOUTHWEST CORNER THEREOF; THENCE S89°40'17"W, ALONG THE SOUTH LINE OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 27, A DISTANCE OF 369.54 FEET; THENCE N00°04'34"W, 275.95 FEET, TO THE SOUTHWEST CORNER OF SIMPSON'S FIRST ADDITION, IN ACCORDANCE WITH THE RECORDED PLAT THEREOF; THENCE N89°22'03"E, ALONG THE SOUTH LINE OF SAID SIMPSON'S FIRST ADDITION, 228.06 FEET; THENCE N00°04'34"W, ALONG SAID SOUTH LINE, 114.00 FEET; THENCE N89°24'56"E, ALONG SAID SOUTH LINE, 77.63 FEET; THENCE N00°35'56"W, 355.94 FEET, TO A POINT ON THE NORTH LINE OF SAID SIMPSON'S FIRST ADDITION; THENCE S88°47'21"W, ALONG SAID NORTH LINE, 302.49 FEET, TO THE NORTHWEST CORNER THEREOF; THENCE N09°27'19"W, 290.15 FEET; THENCE N22°47'26"W, 249.51 FEET; THENCE N28°34'15"W, 303.20 FEET; THENCE N19°14'26"W, 50.00 FEET; THENCE S70°45'54"W, 181.75 FEET; THENCE S73°03'00"W, 167.46 FEET; THENCE N16°57'00"W, 103.39 FEET; THENCE S70°45'34"W, 150.74 FEET; THENCE SOUTHWESTERLY, 354.64 FEET, ALONG A 1750.00 FOOT RADIUS CURVE, CONCAVE NORTHWESTERLY, WHOSE 354.04 FOOT CHORD BEARS S76°33'54"W; THENCE N07°37'46"W, 468.90 FEET; THENCE N06°43'24"W, 216.96 FEET; THENCE N19°05'47"E, 163.29 FEET; THENCE N00°17'48"W, 209.08 FEET; THENCE N34°27'42"W, 154.31 FEET; THENCE N27°21'08"W, 182.12 FEET; THENCE N11°27'19"W, 29.36 FEET; THENCE N89°29'44"E, 557.97 FEET; THENCE N00°30'16"W, 730.00 FEET; THENCE N89°29'44"E, 16.32 FEET; THENCE N88°12'50"W, 250.20 FEET; THENCE S89°29'44"W, 176.39 FEET; THENCE N00°30'16"W, 100.00 FEET; THENCE N89°29'44"E, 12.50 FEET; THENCE N0°30'16"W, 330.14 FEET, TO A POINT ON THE NORTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 22; THENCE N89°30'03"E, ALONG SAID NORTH LINE, 1543.05 FEET, TO THE POINT OF BEGINNING. SAID URBAN RENEWAL AREA CONTAINS 160.87 ACRES, AND IS SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD. Section 3. Provisions for Division of Taxes Levied on Taxable Property in the Urban Renewal Area. After the effective date of this ordinance, the taxes levied on the taxable property in the Urban Renewal Area each year by and for the benefit of the State of Iowa, the City, the County and any school district or other taxing district in which the Urban Renewal Area is located, shall be divided as follows: (a) that 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