Ordinances-2017-405 - Urban Renwal Area - Deleted

CITY OF TIFFIN ORDINANCE NO. 2017-405 An Ordinance Deleting Property From the Tax Increment Financing District for the Tiffin Urban Renewal Area of the City of Tiffin, Iowa, Pursuant to Section 403.19 of the Code of Iowa WHEREAS, the City Council of the City of Tiffin, Iowa (the “City”) previously enacted an ordinance providing for the division of taxes levied on taxable property in the Tiffin Urban Renewal Area pursuant to Section 403.19 of the Code of Iowa; and WHEREAS, pursuant to that ordinance, a portion of the Tiffin Urban Renewal Area in the City of Tiffin was designated a “tax increment district”; and WHEREAS, the City Council now desires to decrease the size of the “tax increment district” by deleting certain property; BE IT ENACTED by the City Council of the City of Tiffin, Iowa: Section 1. Purpose. The purpose of this ordinance is to delete certain property from the tax increment financing district for the Tiffin Urban Renewal Area. Section 2. Definitions. For use within this ordinance the following terms shall have the following meanings: “Deleted Property” shall mean the following described real property situated in the City of Tiffin, Johnson County, State of Iowa: 1. State of Iowa – I 80 All that portion of Interstate 80 and the ramp rights of way obtained and owned by the State of Iowa that lies within Section 33, Township 80 North, Range 7 West of the 5th P.M., Johnson County, Iowa. Contains approximately 68.7 acres. 2. Wombacher Partnership (Agricultural Land) The northeast quarter of Section 33, Township 80 north, Range 7 west of the 5th P.M., excepting that part thereof taken by the State of Iowa for highway purposes AND All that part of said N1/2 SE1/4 that lies northerly and northeasterly of the northerly right-of-way of interstate 80. Contains 126.94 acres more or less. 3. The east 100-feet of the Southwest ¼ of Section 28, Township 80 north, Range 7 west of the 5th P.M. AND The west 100-feet of the Southeast ¼ of Section 28, Township 80 north, Range 7 west of the 5th P.M. 4. Robert’s Ferry Road right of way from the south line of the north 1/2 of Section 28, Township 80 north, Range 7 west of the 5th P.M. in a northerly direction up to the south property line of Song Bird Estates a.k.a. Songbird Estates Addition to the City of Tiffin. 5. All of the Jasper Avenue right of way from the north boundary of the Interstate 80 right of way northerly to the north boundary line of the Iowa Interstate Railroad. 6. Schneider’s (Agricultural Land) - A portion of the Northwest one quarter of Section 34, Township 80 North, Range 7 West of the Fifth Principal Meridian, Johnson County, Iowa the boundaries of which are described as follows: Beginning at the West Quarter Corner of Section 34, Township 80 North, Range 7 West, of the 5th Principal Meridian; Thence N00°00'00"E, an assumed bearing along the West Line of said Northwest Quarter, 1322.05 feet; Thence S88°55'00"E, 1060.19 feet, to the Northwest Corner of Lot 2 of Forest Ridge Subdivision, as recorded in Plat Book 22 at Page 34, of the Records of the Johnson County Recorder’s Office; Thence S00°00'00"W, 427.01 feet, to the Southwest Corner of said Lot 2; Thence N88°16'50"E, along the south line of said Lot 2, 289.88 feet; Thence S82°10'41"E along said south line of Lot 2, 134.11 feet; Thence S88°51'02"E, along said south line of Lot 2, 200.42 feet, to the Southeast Corner thereof; Thence Southeastly, 147.37 feet, along the southerly Right-of-Way Line of Platted Ridge Drive, on a 50.00 foot radius cul-de-sac curve, whose