HomeMy WebLinkAbout2015-687-9/8/2015 Prepared by Nancy Higby, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-
4323 .
RESOLUTION NO. 2015-687
RESOLUTION APPROVING APPLICATION WITH CHAD
MORMANN FOR TAX EXEMPTIONS ON THE RENOVATION
OF A COMMERCIAL BUILDING VALUED AT
$191, 738 . 00 FOR PROPERTY LOCATED AT 620
COMMERCIAL STREET AND LOCATED WITHIN THE
CONSOLIDATED URBAN REVITALIZATION AREA
(CURA) , IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Chad Mormann has submitted an application dated May
29, 2015 to the City Council of the City of Waterloo, Iowa,
requesting to receive tax exemptions for the renovation of a
commercial building valued at $191, 738 . 00 for property located at
620 Commercial Street, more fully described as follows :
That part of Lot No. 2, in Block No. 8 in the original
Plat, on the West Side of the Cedar River, in the City
of Waterloo, Black Hawk County, Iowa, described as.
follows :
Commencing at a point on the Northeasterly line of said
Block No. 8 that is 86. 5 feet Northwesterly from the point
of intersection of said Northeasterly line of Block No. 8
with the Northwesterly line of West Fifth Street in said
City; thence Northwesterly along the Northeasterly line of
said Block No. 8 a distance of 22 . 125 feet; thence
Southwesterly along a straight line to a point on the
Southwesterly line of said Lot No. 2 which is 108 . 6 feet
Northwesterly from the Northwesterly line of said West Fifth
Street; thence Southeasterly along the Southwesterly line of
said Lot No. 2 a distance of 22 . 1 feet; and thence
Northeasterly along a straight line to the point of
beginning,
and,
WHEREAS, s-aid 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 Area (CURA) 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 three-
year exemption schedule:
For the first year 100%
For the second year 100%
For the third year 100%
Resolution No. 2015-687
Page 2
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 8th day of September, 2015.
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Ernest G. Clark, Mayor
ATTEST:
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Suzy Sc ares, CMC ,
City Cl rk