HomeMy WebLinkAbout2018-12-1/8/2018Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-012
RESOLUTION APPROVING THE REQUEST OF 3 LITTLE
LAMBS FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF A NEW COMMERCIAL BUILDING VALUED AT $180,000
FOR PROPERTY LOCATED AT 1827 BLACK
HAWK STREET AND LOCATED WITHIN THE
CONSOLIDATED URBAN REVITALT7ATION AREA (CURA).
WHEREAS, 3 Little Lambs has submitted an application dated December 12, 2017, to
the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on the
construction of a new commercial building valued at $180,000 for property located at 1827 Black
Hawk Street, and located in the City Limits Urban Revitalization Area (CURA), more fully
described as follows:
HAYES ADDITION LOT 1, LOT 2, LOT 9, LOT 10 AND ALL LOT 8 EXC
THE W 45 FT BLK 16 AND ALSO THAT PART OF W 17TH ST LOCATED
LYING NELY OF A LINE DRAWN BETWEEN THE SLY MOST COR OF
LOT 10 BLK 16 AND THE WLY MOST COR OF LOT 6 BLK 15 AND LYING
SWLY OF A LINE DRAWN BETWEEN THE SLY COR OF LOT 1 BLK 16
AND THE WLY MOST COR OF LOT 5 IN BLK 15 AND ALSO THAT PART
OF AN ALLEY LOCATED LYING NWLY OF A LINE DRAWN BETWEEN
THE ELY MOST COR OF LOT 10 BLK 16 AND THE SLY MOST COR OF
LOT 1 BLK 16 AND LYING SELY OF A LINE DRAWN BETWEEN THE SLY
MOST COR OF LOT 3 BLK 16 AND THE NLY MOST COR OF LOT 9 BLK
16, 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 commercial improvements 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 improvements on said property were 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%
Resolution No. 2018-12
Page 2
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 8th day of January 2018.
4
Kelley Felchle
City Clerk
Quentin Hart, Mayor