HomeMy WebLinkAbout2008-0967-11/3/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-967
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA, SUPPORTING INTERIM
HOLDINGS' (JOHN FOLEY) APPLICATION FOR LOW
INCOME HOUSING TAX CREDIT.
WHEREAS, the City of Waterloo, Iowa has been informed by
Interim Holdings (John Foley) that a Low-Income Housing Tax
Credit Application (will or has been) filed with the Iowa
Finance Authority for the development of affordable single
family rent-to-own housing to be located in a new subdivision in
the Maywood area along Bishop Avenue, Waterloo, Iowa with a
legal description as follows :
EXHIBIT "A"
A SURVEY OF PART OF THE NW 1/4 OF SECTION 29, TOWNSHIP 89 NORTH
(T89N) , RANGE 12 WEST (R12W) , OF THE FIFTH PRINCIPAL MERIDIAN
(5TH P.M. ) IN THE CITY OF WATERLOO, BLACK HAWK COUNTY, STATE OF
IOWA, MORE PARTICULARLY DESCRIBED AS FOLLOWS :
BEGINNING AT THE CENTER OF SEC. 29 , T89N, R12W, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, STATE OF IOWA; THENCE N00004 ' 50"E,
1327 . 43 FEET ALONG THE WEST RIGHT OF WAY LINE OF MAYWOOD AVENUE;
THENCE N89044120"W, 661 . 81 FEET ALONG THE NORTH LINE OF THE SE
1/4 , OF NW 1/4 SEC. 29, T89N, R12W; THENCE S00004 ' 10"W, 598 . 13
FEET ALONG THE WEST LINE OF THE NE 1/41 OF SE 1/4 , OF NW 1/4 OF
SEC. 29, T89N, R12W; THENCE N89045 ' 30"W, 337 . 41 FEET; THENCE
S00000100"E, 140 . 00 FEET ALONG A LINE PARALLEL AND 325 . 00 FEET
NORMALLY DISTANT FROM THE WEST LINE OF THE NW 1/4 ; THENCE
N8904513011W, 227 . 00 FEET TO THE NORTHEASTERLY LINE OF L01 ONE IN
SCOTCH GROVE ADDITION ALSO THE CENTERLINE OF THE EXISTING STORM
AND SANITARY SEWER EASEMENT; THENCE S69032 ' 06"E, 114 . 21 FEET
ALONG SAID NORTHEASTERLY LINE; THENCE S0000010011E, 550 . 57 FEET
ALONG A LINE PARALLEL TO AND 205 . 00 FEET NORMALLY DISTANT FROM
THE WEST LINE OF THE NW 1/4 , TO A POINT ON THE SOUTH LINE OF THE
NW 1/4 OF SEC. 29 , T89N, R12W BEING S8904710611E, 205 . 00 FEET
FROM THE INTERSECTION OF BISHOP AVENUE AND COTTAGE GROVE AVENUE;
THENCE S89047' 06"E, 1118 . 07 FEET ALONG SAID SOUTH LINE TO THE
POINT OF BEGINNING, CONTAINING 1, 197, 374 . 6 SQ. FEET OR 27 . 488
ACRES, ALL IN THE CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA;
WHEREAS, this housing project will contain 30 units, and
WHEREAS, the units will be targeted to families, and
WHEREAS, the project will be a new construction, and
WHEREAS, the project is a good infill development project,
meeting needs for housing while also working to promote Smart
Growth and help interconnectivity of infrastructure systems :
street, water, sewer, etc . , and
Resolution No. 2008-967
Page 2
WHEREAS, the project provides for program to help immediate
needs of rental populations , while also encouraging
homeownership goals, education, and training, and
WHEREAS, the project provides rent subsidy to tenants . The
Maywood area has seen a lot of infill development in recent
years, so this project should have good market appeal .
WHEREAS, the property will have the following amenities :
1 . Ranch style construction with basements, high
efficient furnaces, energy efficient appliances ,
garage, carpet , mini blinds , and will be 2 and 3
bedroom units (1, 000 to 1, 800 square feet) .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that we support and approve the
development of the aforesaid housing in our community, subject
to city ordinances and the building permit process . This
resolution is effective until December 31 , 2008 . In the event
-that any of the characteristics mentioned above should change
-prior to the issuance of a building permit, this resolution is
null and void.
PASSED AND ADOPTED this 3rd of November, 2008 .
Tim Hurley, Mays%
ATTEST:
C'�.�
Nancy Ecke t, CMC
City Clerk