HomeMy WebLinkAbout2016-094-2/8/2016 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-
4323 .
RESOLUTION NO. 2016-094
RESOLUTION APPROVING APPLICATION WITH ROB
ADAMS FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF A NEW COMMERCIAL BUILDING VALUED AT
$95, 000 . 00 FOR PROPERTY LOCATED AT 124 CENTER
STREET AND LOCATED WITHIN THE CONSOLIDATED
URBAN REVITALIZATION AREA (CURA) , IN THE CITY
OF WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, Rob Adams has submitted an application dated
January 28, 2016 to the City Council of the City of Waterloo,
Iowa requesting ng to receive tax exemptions for the construction
of a new commercial building valued at $95, 000 . 00 for property
located at 124 Center Street, more fully described as follows :
ASSESSOR LELANDS PLAT NO 1 WL00 LOT 5 EXC E 267 . 23 FT
AS MEASURED ALONG S LINE OF SAID LOT 5 AUD RAINBOWS
LOGAN AVE & BELT LINE PLAT LOT 1 EXC BEG AT MOST NLY
COR LOT 1 TH SELY ALONG SWLY LINE I. C. R.R. 17 . 78 FT TH
SWLY 7 . 40 FT TO A PT ON SWLY LINE LOT 1 AT NELY ROW
LINE OF WEST BELT I .C.R.R. TH NWLY ALONG SWLY LINE LOT
1 19. 88 FT TO PT OF BEG, IN THE CITY OF WATERLOO, BLACK
HAWK COUNTY, IOWA,
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 new construction project respecting said
property .is in conformance with the Consolidated Urban
Revitalization AreaCURA
( ) 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 (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, VTHEREFORE, 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
Resolution No. 2016-094
Page 2
said application and a copy of this resolution to the Assessor.
PASSED AND ADOPTED this 8th day of February, 2016.
Y v Quentin Hart, Mayor
f
E
ATTEST:
Kelley Felc le
Deputy City Clerk "