HomeMy WebLinkAbout2016-008-1/11/2016 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2016-008
-RESOLUTION APPROVING APPLICATION WITH CEDAR
VALLEY 4 RENT LLC FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW SINGLE FAMILY HOME
VALUED AT $259, 900 . 00 FOR PROPERTY LOCATED AT
1876 RED TAIL DRIVE, AND LOCATED IN THE CITY
LIMITS URBAN REVITALIZATION AREA (CLURA) , IN
THE CITY OF WATERLOO, BLACK HAWK COUNTY,
IOWA.
WHEREAS, Cedar Valley 4 Rent LLC has submitted an
application dated December 18, 2015 to the City Council of the
City of Waterloo, Iowa, requesting to receive tax exemptions for
the construction of a new single family home valued at
$259, 900 . 00 for property located at 1876 Red Tail Drive, more
fully described as follows :
Audubon Park Sixth Addition Lot 2, Waterloo, Black Hawk
County, Iowa.
Subject to easements, restrictions, covenants,
ordinances and limited access provisions of records;
and,
WHEREAS, said property is located within the designated City
Limits Urban Revitalization Area (CLURA) 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 City Limits Urban
Revitalization Area (CLURA) Plan as officially adopted by the
City Council for the City of Waterloo, Iowa, and
WHEREAS,, the new construction on said property was made
during the time in which such improvements are eligible for the
tax exemption as set forth in the City Limits Urban
Revitalization Area (CLURA) 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 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.
PASSED AND_ADOPTED this 11th day of January, 2016.
r
' Quentin Hart, ayor
ATTEST:
uzy S hares, CMC
City C erk