HomeMy WebLinkAbout2015-230-4/6/2015 Prepared by Suzy Schares, City Clerk, City of Waterloo, 715
Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2015-230
RESOLUTION SUPPORTING THE APPLICATION BY
PRAIRIE RAPIDS, LLC FOR THE IOWA WORKFORCE
HOUSING TAX INCENTIVES PROGRAM AND APPROVING
A WORKFORCE HOUSING INCENTIVE PROGRAM (WHIP)
FUNDING AGREEMENT TO CONSTRUCT 60 NEW HOUSING
UNITS LOCATED NEAR THE SOUTHEAST CORNER OF
KIMBALL AVENUE AND RIDGEWAY AVENUE.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
to support the Application for the Iowa Workforce Housing Tax
Incentive dated April 6, 2015, by Prairie Rapids, LLC to
construct 60 new housing units located near the southeast corner
of Kimball Avenue and Ridgeway Avenue.
Legally described as :
THAT PART OF THE NORTHWEST FRACTIONAL QUARTER (NW FRL. 1/4 ) OF
SECTION 03, TOWNSHIP 88 NORTH (T88N) , RANGE 13 WEST (R13W) OF THE
FIFTH PRINCIPAL MERIDIAN (5th P.M. ) IN THE UNPLATTED PORTION OF
WATERLOO WEST, BLACK HAWK COUNTY, STATE OF IOWA, MORE
PARTICULARLY DESCRIBED AS FOLLOWS :
COMMENCING AT THE INTERSECTION OF THE SOUTH LINE OF EAST RIDGEWAY
AVENUE WITH THE WEST LINE OF EDGEMONT AVENUE; THENCE S00036124"E
201 . 18 FEET, PREVIOUSLY RECORDED AS, SOUTH 200 . 0 FEET ALONG THE
WEST LINE OF EDGEMONT AVENUE; THENCE S89027 ' 26"W 45 . 44 FEET,
PREVIOUSLY RECORDED AS, WEST 45 . 0 FEET ALONG THE NORTH LINE OF
CATARACT AVENUE (PREVIOUSLY REFERRED TO EDGEMONT AVENUE) ; THENCE
S00039149"E 283 . 00 FEET, PREVIOUSLY RECORDED AS, SOUTH 283. 0
FEET, ALONG THE WEST LINE OF EDGEMONT AVENUE, TO THE POINT OF
BEGINNING; THENCE CONTINUING S00039149"E 554 . 58 FEET, PREVIOUSLY
RECORDED AS SOUTH 556. 0 ft . , ALONG THE WEST LINE OF EDGEMONT
AVENUE, TO A POINT ON THE NORTH LINE OF SOUTHHAVEN ADDITION;
THENCE S89027129"W 410 . 87 FEET, PREVIOUSLY RECORDED AS WEST ALONG
SAID NORTH LINE OF SOUTHHAVEN ADDITION, TO A POINT 380 . 0 FEET
EAST OF THE EAST LINE OF KIMBALL AVENUE, SAID POINT IS ALSO THE
SOUTHEAST CORNER OF PARCEL "D" OF SAID NORTHWEST FRACTIONAL
QUARTER (NW FRL. 1/4) OF SECTION 03; THENCE N00051 ' 22"W 554 . 81
FEET, PREVIOUSLY RECORDED AS, NORTH, ALONG SAID LINE 380 . 0 FEET
EAST OF EAST LINE OF KIMBALL AVENUE TO A POINT; THENCE
N89027126"E 415 . 74 FEET, TO THE POINT OF BEGINNING, CONTAINING
230, 075 . 4 SQUARE FEET, OR 5 . 282 ACRES .
and approve the Workforce Housing Incentive Program funding
agreement allowing for $1, 000 . 00 per unit match for said project
between Prairie Rapids, LLC and the City of Waterloo, Iowa, be
and the same is hereby approved, and the Mayor is authorized to
execute the same on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 6th da of April, 2015 .
Ernest G. Clark, Mayor
ATTEST:
uzy S hares, CMC
City Clerk
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