HomeMy WebLinkAbout2015-689-9/8/2015 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-
4323 .
RESOLUTION NO. 2015-689
RESOLUTION APPROVING APPLICATION WITH CARBER
DEVELOPMENT LC FOR TAX EXEMPTIONS ON THE
RENOVATION OF A COMMERCIAL BUILDING VALUED AT
$675, 552 . 72 FOR PROPERTY LOCATED AT 35
FLETCHER AVENUE AND LOCATED WITHIN THE
CONSOLIDATED URBAN REVITALIZATION AREA
(LURA) , IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Carber Development LC has submitted an application
dated July 9, 2015 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions for the renovation of
a commercial building valued at $675, 552 . 72 for property located
at 35 Fletcher Avenue, more fully described as follows :
Westfield Lots 3, 4, 5, 6, 7 Block 26 Esc that part Lots
3, 6 & 7 deeded to City of Waterloo as Desc in CLD B 619
P788 and Exc that part Lot 7 deeded to State of Iowa as
Desc in CLD B 619 2785, City of Waterloo, Black Hawk
County Iowa.
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area (LURA) in Waterloo, Iowa,
as previously established by the City Council of the City of
Waterloo, Iowa, and
WHEREAS, the renovation project respecting said property is
in conformance with the Consolidated Urban Revitalization Area
(LURA) Plan as officially adopted by the City Council for the
City of Waterloo, Iowa, and
WHEREAS, the renovation on said property was made during the
time in which such improvements are eligible for the tax
exemption as set forth in the Consolidated Urban Revitalization
Area (LURA) 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 800
For the second year 700
For the third year 600
For the fourth year 500
For the fifth year 400
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.
Resolution No. 2015-689
Page 2
PASSED AND ADOPTED this 8th da of September, 2015 .
rnest G. Clark, Mayor
ATTEST:
Kelley Fel hle
Deputy City Clerk