HomeMy WebLinkAbout2016-095-2/8/2016 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-
4323 .
RESOLUTION NO. 2016-095
RESOLUTION APPROVING APPLICATION WITH HEIDI
FORDYCE FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW GARAGE VALUED AT
$16, 000 . 00 FOR PROPERTY LOCATED AT 126
BISMARK AVENUE AND LOCATED WITHIN THE
CONSOLIDATED URBAN REVITALIZATION AREA
(LURA) , IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Heidi Fordyce has submitted an application dated
January 29, 2016 to the City Council of the City of Waterloo,
Iowa, requesting to receive<,tax exemptions for the construction
of a new garage valued at ~$16, 000 . 00 for property located at 126
Bismark Avenue, more fully described as follows :
Lots 231 and 232 and the Southeasterly 2 feet of Lot
233 in Galloway in the City of Waterloo, Iowa, except
that part deeded to the City of Waterloo in 613 CLD
747, 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 on 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 (LURA) 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 800
For the second year 70%
For the third year 600
For the fourth year 500
For the fifth year 400
For the sixth year 40%
For the seventh year 300
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.
Resolution No. 2016-095
Page 2
r
PASSED AND ADOPTED this 8th day of February, 2016.
i Quentin Hart, Mayor
,ATTEST:
Kelley Fech e
Deputy Ci y Clerk