HomeMy WebLinkAbout05/23/2011 Council Work Session
May 23, 2011
4:15 p.m.
Council Chambers
Roll Call.
Approval of Agenda, as proposed or amended.
1. Plans and Developments of the Grow Residential Opportunities for Waterloo
(GROW) Committee
ADJOURNMENT
Suzy Schares
City Clerk
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Council Communication
COUNCIL City Council Meeting: May 23, 2011
MEMBERS Prepared: May 18, 2011
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Dept. Head Signature: Noel Anderson, Community Planning & Development Director
DAVID # of Attachments: 0
JONES
t;""" SUBJECT: Work Session with City Council on recommendation of G.R.O.W.
CAROLYN (Grow Residential Opportunities in Waterloo) Committee to help bring more
COLE residential development to the City of Waterloo.
Ward 2
HAROLD Submitted by: Noel Anderson, Community Planning & Development Director
GETTY
Ward 2 Recommended City Council Action: Work Session
HART N SummaryStatement: The G.R.O.W. (Grow Residential
HART
Opportunities in Waterloo)
G✓itrd,1 Committee has been meeting for over one year on potential plans to help bring new
residential development to the City of Waterloo. The Committee has reviewed other
RON plans from other communities including TIF Districts, CURA Areas, and other offers
WEl_AER
Wards of free land, etc.
BOB The GROW Committee will conduct a presentation on their recommendation for the
GREENWOOD City Council.
At Large
STEVE Expenditure Required: NA
SCHMITT
'i /""` Source of Funds: NA
Policy Issue: Economic Development
Alternative: NA
Background Information: The GROW Committee has been meeting for over a
year to brainstorm ideas on how to bring new residential opportunities and
development to Waterloo.
I
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5-17- 2011
GROWS' PROPOSED CURA FOR WATERLOO HOUSING INCENTIVE
INITIAL DRAFT
1. Set up Waterloo city-wide program to encourage the building and purchasing of lots and
"Single-Family" houses for the population and tax base growth of the City.
2. Definition of"Single- Family"would include:
A) Single family houses on single lot
B) Zero lot line, Bi-Attached,Twin Home housing(common wall)on single lot or in a
common "condominium lot" ownership where each "dwelling unit" is separately owned
and has its own individual address, sewer, water and utility service, and is separately
taxed.
C) Duplexes on single lot where both "dwelling units" are owned by a single owner.
D) The program would not include apartments, nursing or medical housing or Multi-family
buildings (even though they may be in a separate condominium ownership for tax
purposes)or remodels of existing residences.
3. A real estate tax moratorium would be made for each new house for a three (3)year period
beginning with the Closing Date to Buyer. The Builder would pay the prorate taxes up to the
Date of Closing and the Buyers tax abatement would start at that date for the next three (3)
years.
4. The program would have a sunset clause to be in effect for 3 years (2011—2013), but the actual
taxes forgiven would string out for up a total of 5 or more years for those houses started in 2012
and 2013.
5. Existing housing incentives in designated areas of Waterloo would not be adversely affected by
this program and those incentives would still continue.