HomeMy WebLinkAbout2020-73-2/4/2020 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2020-73
RESOLUTION APPROVING THE REQUEST OF IMAGE
POINTE FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF A COMMERCIAL BUILDING ADDITION AND OTHER
IMPROVEMENTS VALUED AT $1,505,171, FOR PROPERTY
LOCATED AT 1224 LA PORTE ROAD, AND LOCATED
WITHIN THE CONSOLIDATED URBAN REVITALIZATION
AREA(CURA).
WHEREAS, Image Pointe has submitted an application dated January 23, 2020, to the
City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for construction
of a commercial building addition and other improvements valued at $1,505,171, for property
located at 1224 La Porte Road, and located in the Consolidated Urban Revitalization Area
(CURA), more fully described as follows:
THAT PART OF EAST ONE-HALF OF THE NORTH ONE-HALF OF THE
SOUTH ONE-HALF OF THE NORTHWEST QUARTER OF THE
SOUTHEAST QUARTER OF SECTION NO.36, TOWNSHIP NO. 89 NORTH,
RANGE NO. 13 WEST OF THE FIFTH PRINCIPLE MERIDIAN, IN THE
CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA, LYING WITHIN
THE FOLLOWING DESCRIBED BOUNDARIES:
BEGINNING AT A POINT IN THE EAST LINE OF THE NORTHWEST
QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION WHICH IS
30 FEET SOUTH OF THE NORTHEAST CORNER OF THE SOUTH ONE-
HALF OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER
OF SAID SECTION; THENCE WEST ALONG A LINE WHICH IS PARALLEL
WITH THE NORTH LINE OF THE SOUTH ONE-HALF OF THE
NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID
SECTION 287.2 FEET; THENCE SOUTH ALONG A LINE WHICH IS
PARALLEL WITH AND 1,053.5 FEET EAST OF THE WEST LINE OF THE
NORTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SAID
SECTION 270.16 FEET; THENCE EAST ALONG A LINE WHICH IS
PARALLEL WITH AND 30 FEET NORTH AND SOUTH LINE OF THE
NORTH ONE-HALF OF THE SOUTH ON-HALF OF THE NORTHWEST
QUARTER OF SAID SECTION 288.6 FEET TO THE EAST LINE OF THE
NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID
SECTION; THENCE NORTH ALONG THE EAST LINE OF THE OF THE
NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID
SECTION; TO THE OF BEGINNING, EXCEPT THE EAST 100 FEET
THEREOF CONVEYED TO THE CITY OF WATERLOO, IOWA FOR
STREET PURPOSES.
ALSO, THAT PART OF THE SOUTHEAST QUARTER OF THE
NORTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION
NO. 36, TOWNSHIP NO. 89 NORTH, RANGE NO. 13 WEST OF THE FIFTH
PRINCIPLE MERIDIAN, BLACK HAWK COUNTY, DESCRIBED AS
FOLLOWS:
COMMENCING AT A POINT 30 FEET SOUTH OF AND 100 FEET WEST OF
THE NORTHEAST CORNER OF SAID SOUTHEAST QUARTER OF THE
NORTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SAID
SECTION; THENCE SOUTH 270 FEET; THENCE EAST 67 FEET; THENCE
NORTH 270 FEET; THENCE WEST OF 67 FEET TO THE POINT OF
Resolution No. 2020-73
Page 2
BEGINNING.
Subject to easements, restrictions, covenants, ordinances and limited access provisions of
records, and
WHEREAS, said property is located within the designated Consolidated Urban
Revitalization Area (CURA) in Waterloo, Iowa, as previously established by the City Council of
the City of Waterloo, Iowa, and
WHEREAS, the construction improvements are in conformance with the Consolidated
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 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 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 4th day of February 2020.
["')L-tMNAhz
Quentin Hart, Mayor
ATTEST:
4hk
Kelley Fel le, City Clerk