HomeMy WebLinkAbout2012-214-03/12/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-214
RESOLUTION APPROVING APPLICATION WITH
KIMBERLY ARCHIE FOR TAX EXEMPTIONS ON
IMPROVEMENTS TOTALING $124,000.00 FOR
PROPERTY LOCATED AT 220 EAST 8TH STREET IN
THE CONSOLIDATED URBAN REVITALIZATION AREA
PLAN, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Kimberly Archie has submitted an application dated
February 10, 2012 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on improvements
totaling $124,000.00 for property located at 220 East 8th Street,
more fully described as follows:
Lot 3 except the Northeasterly 1.5 feet thereof in
Block 18 in the Original Plat, on the East Side of the
Cedar River, in the City of Waterloo, Black Hawk
County, Iowa;
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area in Waterloo, Iowa, as
previously established by the City Council of the City of
Waterloo, Iowa, and,
WHEREAS, the improvement project respecting said property is
in conformance with the Consolidated Urban Revitalization 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 Consolidated Urban Revitalization
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
For the second year
For the third year
For the fourth year
For the fifth year
For the sixth year
For the seventh year
For the eighth year
For the ninth year
For the tenth year
80%
70%
60%
50%
400
40%
30%
30%
20%
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 by
March 1, 2013.
Resolution No. 2012-214
Page 2
PASSED AND ADOPTED this 12th day of March, 2012.
ATTEST:
(;;-)
/ �,• J i �)
Suzy cl ares, CMC
City Clerk
hest G. Clark, Mayor