§ 384.22 — Annual reports — financial report — urban renewal report

Iowa § 384.22

• Jurisdiction: Iowa
• Title IX: LOCAL GOVERNMENT
• Ch. 384: CITY FINANCE

Text

1. NotlaterthanDecember1ofeachyear, acityshallpublishanannualfinancialreportas
provided in section 362.3 containing a summary for the preceding fiscal year of all collections
and receipts, all accounts due the city, and all expenditures, the current public debt of the
city, and the legal debt limit of the city for the current fiscal year. The annual financial report
shall be prepared on forms and pursuant to instructions prescribed by the auditor of state.
Beginning with the annual financial report published by December 1, 2025, each report shall
include a list of bonds, notes, or other obligations issued by the city during the most recently
completed fiscal year, and the applicable lists for other fiscal years beginning on or after July
1, 2024, for which obligations remain unpaid, payable from any source, including the amount
of the issuance, the project or purpose of the issuance, whether the issuance was approved
at election, eligible to be subject to a petition for an election, or was exempt from approval
at election as the result of statutory exclusions based on population of the city or amount of
the issuance, and identification of issuances from the fiscal year or prior fiscal years related
to the same project or purpose.
2. a. Each city that had an urban renewal plan and area in effect at any time during the
mostrecentlyendedfiscalyearshallcompleteforeachsuchurbanrenewalplanandareaand
file with the department of management an urban renewal report by December 1 following
the end of such fiscal year. Each report shall be approved by the affirmative vote of a majority
of the city council and be prepared in the format and submitted electronically pursuant to the
instructions prescribed by the department of management in consultation with the legislative
services agency.
b. The report required under this subsection shall include all of the following as of June
30 of the most recently ended fiscal year or the information for such fiscal year, as applicable:
(1) Whether the urban renewal area is determined by the city to be a slum area, blighted
area, economic development area or a combination of those areas, and the date such
determination was made.
(2) A map clearly identifying the boundaries of the urban renewal area.
(3) A copy of the ordinance providing for a division of revenue in the urban renewal area
under section 403.19.
(4) A copy of the urban renewal plan adopted for the urban renewal area, the date of each
amendment to the plan, and a copy of such amendment.
(5) A list and description of all urban renewal projects within the urban renewal area that
are in process and all urban renewal projects that were completed during the fiscal year.
(6) A description of each expenditure during the fiscal year from the city’s special fund
created in section 403.19. Each such expenditure shall be classified by the city according
to categories established by the department of management and shall be designated as
corresponding to the specific loan, advance, indebtedness, or bond which qualifies for
payment from the special fund under section 403.19. Each such expenditure shall also be
designatedascorrespondingtooneormorespecificurbanrenewalprojects. Thisdescription
shall not be required for the report required to be filed on or before December 1, 2012.
(7) The amount of loans, advances, indebtedness, or bonds, including interest negotiated
on such loans, advances, indebtedness, or bonds, which qualify for payment from the special
fund created in section 403.19, and which were incurred or issued during the fiscal year.
Each such loan, advance, debt, or bond shall be classified by the city according to categories
established by the department of management and shall be designated as corresponding to
one or more specific urban renewal projects.
(8) Theamountofloans,advances,indebtedness,orbondsthatremainunpaidattheclose
of the fiscal year, and which qualify for payment from the special fund created in section
403.19, including interest negotiated on such loans, advances, indebtedness, or bonds.
(9) The total amount of property taxes that were exempted, rebated, refunded, or

reimbursed by the city, used to fund a grant provided by the city, or directly paid by the city
duringthefiscalyearforpropertyintheurbanrenewalareausingmoneysinthecity’sspecial
fund created in section 403.19 and such amounts agreed to by the city for future fiscal years.
(10) A list of all properties, including the owner of such properties, and the amount of
property taxes due and payable for the fiscal year that were exempted, rebated, refunded, or
reimbursed by the city, used to fund a grant provided by the city, or directly paid by the city
during the fiscal year using moneys in the city’s special fund created in section 403.19 and
information for such amounts agreed to by the city for future fiscal years.
(11) The balance of the city’s special fund created in section 403.19.
(12) The aggregate assessed value of the taxable property in the urban renewal area, as
shown on the assessment roll used to calculate the amount of taxes under section 403.19,
subsection 1, for the fiscal year.
(13) The aggregate assessed value of each classification of taxable property located in the
urban renewal area.
(14) Thatportionoftheassessedvalueofalltaxablepropertylocatedintheurbanrenewal
areathatwasusedtocalculatetheamountofexcesstaxesundersection403.19, subsection2.
(15) The amount of taxes determined under section 403.19, subsection 2, in excess of
the amount required to pay the applicable loans, advances, indebtedness, and bonds, if any,
and interest thereon, for the fiscal year that was paid into the funds for the respective taxing
districts in the same manner as taxes on all other property.
(16) Interest or earnings received by each urban renewal area during the fiscal year on
amountsdepositedintothespecialfundcreatedinsection403.19andthenetproceedsduring
the fiscal year from the sale of assets purchased using amounts deposited into the special
fund created in section 403.19.
(17) For each taxing district for which the city divided taxes, the amount of taxes
determined under section 403.19, subsection 2, that, in lieu of allocation to the taxing
district, were deposited into the city’s special fund during the fiscal year.
(18) The amount of expenditures by the city during the fiscal year for the purpose of
providingoraidingintheprovisionofpublicimprovementsrelatedtohousingandresidential
development.
(19) The amount and types of assistance to low and moderate income housing provided
by the city under section 403.22 during the fiscal year if applicable.
(20) When required as part of an urban renewal development or redevelopment
agreement that includes the use of incremental taxes collected pursuant to section 403.19,
subsection 2, the total number of jobs to be created, the wages associated with those jobs, the
total private capital investment, and the total cost of the public infrastructure constructed.
(21) All other additional information or documentation relating to a city’s urban renewal
activitiesoruseofdivisionsofrevenueunderchapter403deemedrelevantbythedepartment
of management, in consultation with the city finance committee.
c. By December 1, 2012, the department of management, in collaboration with the
legislative services agency, shall make publicly available on an internet site a searchable
database of all such information contained in the reports required under this subsection.
Reports from previous years shall be retained by the department and shall continue to be
available and searchable on the internet site.
d. For purposes of this subsection, “indebtedness” includes but is not limited to written
agreements whereby the city agrees to exempt, rebate, refund, or reimburse property taxes,
provideagrantforpropertytaxespaid, ormakeadirectpaymentoftaxes, withmoneysinthe
special fund created in section 403.19, and bonds, notes, or other obligations that are secured
by or subject to repayment from moneys appropriated by the city from moneys in the special
fund created in section 403.19.
3. The annual financial report shall be prepared on forms and pursuant to instructions
prescribed by the auditor of state and shall be filed with the auditor of state. The urban
renewal report shall be filed with the department of management. Each report must be filed
prior to the publication and adoption of the city budget under section 384.16 for the fiscal
year beginning July 1 following the date such reports are due. If such reports are not filed

pursuant to the requirements of this section, the department of management shall not certify
the city’s taxes back to the county auditor under section 24.17.

Legislative History

[S13, §741-c, 1056-a7, 1056-a9, 1056-a33; C24, 27, 31, 35, 39, §5677, 5679, 5680, 6581; C46, 50, §363.54, 363.56, 363.57, 416.109; C54, 58, 62, 66, 71, 73, §368A.9, 368A.11, 368A.12; C75, 77, 79, 81, §384.22]