HomeMy WebLinkAbout2020-75-2/4/2020 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319)291-4323.
RESOLUTION NO. 2020-75
RESOLUTION APPROVING THE REQUEST OF JSA
DEVELOPMENT FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF BUILDING
IMPROVEMENTS/REMODEL, VALUED AT $800,000, FOR
PROPERTY LOCATED AT 323-329 E. 4TH AND 522
MULBERRY STREET, AND LOCATED IN THE
CONSOLIDATED URBAN REVITALIZATION AREA (CURA).
WHEREAS, JSA Development has submitted an application dated January 29, 2020, to
the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for the
construction of building improvements/remodel, valued at $800,000, for property located at 323-
329 E. 4th and 522 Mulberry Street, and located in the Consolidated Urban Revitalization Area
(CURA), more fully described as follows:
THE SOUTHEASTERLY 95 FEET OF LOT NO. 1, AND THE
SOUTHEASTERLY 95 FEET OF THE NORTHEASTERLY 20 FEET OF LOT
NOA, ALL IN BLOCK NO. 29 IN THE ORIGINAL PLAT, ON THE EAST
SIDE OF THE CEDAR RIVER, IN THE CITY OF 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 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
Resolution No. 2020-75
Page 2
authorized and directed to forward said application and a copy of this resolution to the Assessor.
PASSED AND ADOPTED this 4t' day of February 2020.
Quentin Hart, Mayor
ATTEST:`
VI&'�—%0 A
Kelley Felc t,
City Clerk