Resolutions-2012-51

Name of Project: 2012 Industrial Park Water Main Project Name of Urban Renewal Area: Tiffin Urban Renewal Area Year of Establishment of Urban Renewal Area: __________________ Date of Council Approval of Project: September 26, 2012 Description of 2012 Industrial Park Water Main Project: The City will undertake the construction of a water main under a portion of I-80 situated in the Tiffin Urban Renewal Area. The water main extension to the Industrial Park runs a 16" diameter watermain from Kum and Go under I-80 and then will run south along Ireland Avenue and tie into the existing water mains in the Tiffin Industrial Park. The new watermain will provide sufficient flows for sprinkler systems in the buildings. Description of Properties to be Acquired in Connection with Project: It is not anticipated that the City will acquire real property in connection with the 2012 Industrial Park Water Main Project, except to the extent necessary to provide easement territory and right-of-way necessary to carry out the 2012 Industrial Park Water Main Project. Description of Use of TIF: It is anticipated that the City will pay for the 2012 Industrial Park Water Main Project with either borrowed funds or the proceeds of an internal advance of City funds on-hand. In either case, the City’s obligation will be repaid with incremental property tax revenues. It is anticipated that the City’s use of Incremental Property tax revenues for the 2012 Industrial Park Water Main Project will not exceed $575,000. C. Ireland Avenue Project Name of Project: Ireland Avenue Project Name of Urban Renewal Area: Tiffin Urban Renewal Area Year of Establishment of Urban Renewal Area: __________________ Date of Council Approval of Project: September 26, 2012 Description of Ireland Avenue Project and Project Site: The City will extend that portion of Ireland Avenue situated in the Urban Renewal Area to connect with Highway 6. Extends existing Ireland Avenue from the Iowa Interstate Railroad North to Highway 6 and will tie into highway 6 at the intersection with Roberts Ferry Road which runs north from Highway 6. The Ireland Avenue leg will create the Southerly portion of the intersection allowing vehicles leaving or going to I-80 to have a direct route to and from Highway 6. Description of Properties to be Acquired in Connection with Project: It is not anticipated that the City will acquire real property in connection with the Ireland Avenue