HomeMy WebLinkAbout2018-637-8/27/2018 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-637
RESOLUTION APPROVING THE REQUEST OF OIP REAL
ESTATE, LLC FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF HOME IMPROVEMENTS VALUED AT
$30,000 FOR A PROPERTY LOCATED AT 424 PEEK STREET,
AND LOCATED WITHIN THE CONSOLIDATED URBAN
REVITALIZATION AREA (CURA).
WHEREAS, OIP Real Estate, LLC has submitted an application dated August 10, 2018,
to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on the
construction of home improvements valued at $30,000 for property located at 424 Peek Street,
and located in the City Limits Urban Revitalization Area (CURA), more fully described as
follows:
PEEKS SECOND ADDITION LOT 6 BLOCK 2, 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 construction of home improvements 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 three-year exemption schedule:
For the first year 100%
For the second year 100%
For the third year 100%
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 27th day of August 2018.
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Quentin Hart, Mayor
Resolution No. 2018-637
Page 2
ATTEST:
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LeA M. Even CMC, IaCMC
Deputy City Clerk
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