HomeMy WebLinkAbout2008-960-10/27/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-960
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA, SUPPORTING THE FORTUS
GROUP' S APPLICATION FOR LOW INCOME HOUSING
TAX CREDIT.
WHEREAS, the City of Waterloo, Iowa has been informed by
The Fortus Group that a Low-Income Housing Tax Credit
Application (will or has been) filed with the Iowa Finance
Authority for the development of affordable rental housing to be
located behind Super Target, Waterloo, Iowa with a legal
description as follows :
That part of the East Ten (10) acres of the South
Twenty (20) acres of the North Forty (40) acres and
the South Five (5) acres of the North Forty-five (45)
acres of the Northwest Fractional Quarter in Section
No. Two (2) Township No. Eighty-eight (88) North,
Range No. Thirteen (13) West of the Fifth Principal
Meridian, in the City of Waterloo, Black Hawk County,
Iowa, lying Easterly of a line drawn from the
Southwest corner of Lot No, Four (4 ) in Bethel
Addition in the City of Waterloo, Black Hawk County,
Iowa, South 0° 2' 50" East a distance of Four Hundred
Thirteen and Eighty-nine Hundredths (413 . 89) feet to
the North line of Hurst Addition, in the City of
Waterloo, Black Hawk County, Iowa, except there from
the following:
Commencing at the Northeast corner of Tract A in said
Hurst Addition; thence Northerly along the Easterly
line of said Northwest Fractional Quarter a distance
of One Hundred Fifty-eight and Two Hundredths ( 158 . 02)
feet; thence Southerly along a curve concave Easterly
having a radius of Fifty (50) feet a distance of One
Hundred Twenty-four and Nine Tenths (124 . 9) feet;
thence South 0° 02' 43" East a distance of Sixty-eight
and Five Hundredths (68 . 05) feet to the North line of
said Tract A; thence Easterly along said North line a
distance of Thirty (30) feet to the point of
beginning.
NOTE: The East line of the Northwest Fractional
Quarter is assumed to bear North 00 02' 43" West, all
in the City of Waterloo, Black Hawk County, Iowa .
WHEREAS, this housing project will contain 96 units, and
WHEREAS, the units will be targeted to families, and
WHEREAS, the project will be a new construction, and
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7 WHEREAS, the project is a good infill development project,
�q"fing needs for housing while also working to promote Smart
Tg'wth and help interconnectivity of infrastructure systems :
m -Street, water, sewer, etc. , and
WHEREAS, there is new development to the west of the
eject, with similar designs, and should have good market
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o WHEREAS, the property will have the following amenities :
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c 1 . Community learning center and library.
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0.1 2 . Fitness and exercise room, garden, patio, and
sitting area next to community room and walking
path.
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
I--TY OF WATERLOO, IOWA, that we support and approve the
Pvwvelopment of the aforesaid housing in our community, subject
d,e, city ordinances and the building permit process . This
de'solution is effective until December 31, 2008 . In the event
&-at any of the characteristics mentioned above should change
,-Prior to the issuance of a building permit, this resolution is
dull and void.
V PASSED AND ADOPTED this 27th day of October, 2008 .
Tim Hurley, May
ATTEST :
G
Nancy EckeCMC
City Clerk