HomeMy WebLinkAbout2015-596-7/27/2015 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo,_ 715 Mulberry Street, Waterloo, IA 50703, (319) 291-
4323 .
RESOLUTION NO. 2015-596
RESOLUTION APPROVING APPLICATION WITH CARE
INITIATIVES FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW SKILLED NURSING
FACILITY VALUED AT $8, 550, 000 . 00 FOR PROPERTY
LOCATED AT 2001 HEATH STREET AND LOCATED
WITHIN THE CONSOLIDATED URBAN REVITALIZATION
AREA (LURA) , IN THE CITY OF WATERLOO, BLACK
HAWK COUNTY, IOWA.
WHEREAS, Care Initiatives has submitted an application dated
July 16, 2015 to the City Council of the City of Waterloo, Iowa,
requesting to receive tax exemptions for the construction of a
new skilled nursing facility valued at $8, 550, 000 . 00 for property
located at 2001 Heath Street, more fully described as follows :
Northcrest Plat 1 Lot 1 . 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 new construction project respecting said
property is in conformance with the Consolidated 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 Consolidated 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 firstY ear 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 40o
For the seventh year 300
For the eighth year 300
For the ninth year 200
For the tenth year 200
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. 2015-596
Page 2
PASSED AND ADOPTED to
T this 27 da - of July, 2015 .
Ernest G. Clark, Mayor
ATTEST'.
T
i
Suzy Sc ares, CMC
City Clrk