HomeMy WebLinkAbout2018-551-7/30/2018 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-551
RESOLUTION APPROVING THE REQUEST OF MARKO
DOSTANIC FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW COMMERCIAL
BUILDING VALUED AT $350,000 FOR PROPERTY
LOCATED AT 220 ESTHER STREET, AND LOCATED
WITHIN THE CONSOLIDATED URBAN REVITALIZATION
AREA (CURA).
WHEREAS, Marko Dostanic has submitted an application dated July 3, 2018, to the City
Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on the construction
of a commercial building valued at $350,000 for property located at 220 Esther Street, and
located in the City Limits Urban Revitalization Area(CURA), more fully described as follows:
UNPLATTED WLOO EAST A PART OF N 2/3 OF S 1/2 OF SW 1/4 SW 1/4
NW 1/4 OF SEC 13 T 89 R 13 EXC S 40 FT THEREOF AND THE S 1 FT OF N
1/2 SW 1/4 SW 1/4 NW 1/4 SAID SEC 13 AND THE N 165 FT OF S 331 FT OF
W 1 FT OF SE 1/4 SW 1/4 OF NW 1/4 SEC 13 SAID PART BEING ALL OF
ABOVE DESC PROP LYING E OF A LINE 310 FT W OF AND PARALLEL
WITH W LINE BLK 13 LOGAN DALE HEIGHTS EXC THAT PART
DEEDED TO STATE OF IOWA AND EXC HWYS, 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 redevelopment of commercial 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 ten-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%
Resolution No. 2018-551
Page 2
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 30th day of July 2018.
Quentin Hart, Mayor
ATTEST:
&elleyy Felc 1
City Clerk