HomeMy WebLinkAbout2015-921-12/7/2015 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-
4323 .
RESOLUTION NO. 2015-921
RESOLUTION APPROVING APPLICATION WITH DREW
_._. . . .. REG. INVESTMENTS FOR TAX EXEMPTIONS FOR THE
INTERIOR AND EXTERIOR REMODEL OF A COMMERCIAL
BUSINESS VALUED AT $80, 000 . 00 FOR PROPERTY
LOCATED AT 139 CLARK STREET AND LOCATED
WITHIN THE CONSOLIDATED URBAN REVITALIZATION
AREA (LURA) , IN THE CITY OF WATERLOO, BLACK
HAWK COUNTY, IOWA.
WHEREAS, Drew Reg. Investments has submitted an application
dated October 27, 2015 to the City Council of the City of
Waterloo, Iowa, requesting to receive tax exemptions for the
interior and exterior remodel of a commercial business valued at
$80, 000 . 00 for property located at 139 Clark Street, more fully
described as follows :
Campbells Addition Lot 7 & 8, in the 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 (LURA) Plan as officially adopted by the City
Council for the City of Waterloo, Iowa, and
WHEREAS, the new construction ons 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 three-
year exemption schedule:
For the first year 1000
For the second year 1000
For the third year 1000
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. 2015-921
Page 2
PASSED AND ADOPTED this 7thda of December, 2015 .
nest G. Clark, Mayor
ATTEST:
zy S ares, CMC
City Clerk