HomeMy WebLinkAbout2017-726-9/5/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2017-726
RESOLUTION APPROVING THE REQUEST OF BENNIE E.
SPAIN FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF A NEW GARAGE VALUED AT $15,000 FOR PROPERTY
LOCATED AT 220 REED STREET, AND LOCATED IN THE
CITY LIMITS URBAN REVITALIZATION AREA(CURA).
WHEREAS, Bennie E. Spain has submitted an application dated August 24, 2017, to the
City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for construction
of a new garage valued at $15,000 for property located at 220 Reed Street, and located in the City
Limits Urban Revitalization Area(CURA), more fully described as follows:
EAST PARK PLACE LOT 12 BLK 7 S 25 FT LOT 13 BLK 7, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
and,
WHEREAS, said property is located within the designated City Limits Urban
Revitalization Area (CURA) in Waterloo, Iowa, as previously established by the City Council of
the City of Waterloo, Iowa, and
WHEREAS, the new construction project respecting said property is in conformance with
the City Limits Urban Revitalization Area(CURA) Plan as officially adopted by the City Council
for the City of Waterloo, Iowa, and
WHEREAS, the new construction on said property was made during the time in which
such improvements are eligible for the tax exemption as set forth in the City Limits Urban
Revitalization Area (CURA) Plan as adopted by the City Council of the City of Waterloo, Iowa,
and as set forth in the Urban Revitalization Act as adopted by the Legislature of the State of Iowa
and signed by the Governor of the State of Iowa, and
WHEREAS, said applicant is requesting the following 10-year partial exemption
schedule:
For the first year 80%
For the second year 70%
For the third year 60%
For the fourth year 50%
For the fifth year 40%
For the sixth year 40%
For the seventh year 30%
For the eighth year 30%
For the ninth year 20%
For the tenth year 20%
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, IOWA, that said application is hereby approved and the City Clerk is hereby
authorized and directed to forward said application and a copy of this resolution to the Assessor.
PASSED AND ADOPTED this 5th day of September 2017.
Resolution No. 2017-726
Page 2
Quentin Hart, Mayor
ATTEST:
Kelley Felle
City Clerk