HomeMy WebLinkAbout2018-554-7/30/2018 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-554
RESOLUTION APPROVING THE REQUEST OF CEDAR
VALLEY 4 RENT FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF ANEW SINGLE FAMILY DWELLING
VALUED AT $200,000 FOR PROPERTY LOCATED AT 509
RIVERSIDE DRIVE, AND LOCATED WITHIN THE
CONSOLIDATED URBAN REVITALIZATION AREA(CURA).
WHEREAS, Cedar Valley 4 Rent has submitted an application dated June 22, 2018, to
the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on the
construction of anew single family dwelling valued at $200,000 for property located at 509
Riverside Drive, and located in the City Limits Urban Revitalization Area (CURA), more fully
described as follows:
CEDAR RIVER PARK LOT 3 BLK 4 S 1/2 LOT 2 BLK 4 AND STRIP OF
EQUAL WIDTH EXTENDING TO RIVER, 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 addition and remodel of a commercial building 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 (CUBA) 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 30th day of July 2018.
Resolution No. 2018-554
Page 2
d
Quentin Hart, Mayor
ATTEST.--.
elley Fele e
City Clerk