HomeMy WebLinkAbout2008-1046-12/01/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-1046
RESOLUTION APPROVING APPLICATION WITH A-LINE
EDS, INC. FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $930, 000 . 00 FOR PROPERTY LOCATED AT
808 DEARBORN AVENUE IN THE CONSOLIDATED URBAN
REVITALIZATION AREA PLAN, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, A-Line EDS, Inc. has submitted an application dated
November 4 , 2008 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on improvements
totaling $930, 000 . 00 for property located at 808 Dearborn Avenue,
more fully described as follows :
Unplatted Waterloo East part of the Northeast �,4 of the
Southeast 1�4 of Section 30 Township 89 Range 12 the
South 300 feet of the North 403 . 5 feet of the West 790
feet of the Northeast �-4 of the Southeast 1-4 except the
West 90 feet; and also: Parcel "H" that part of the
North 803 . 5 feet of the Northeast 'i of the Southeast 1-4
of Section 30 Township 89 Range 12 described as;
commencing at the Northeast corner of said Northeast
of the Southeast 1�4; thence due West along the North
line of the Northeast 1�4 of the Southeast 1�4 1321 . 85 feet
to the Northwest corner of the Northeast 1�4 of the
Southeast 1�4; thence South along the West line of the
Northeast 1,4 of the Southeast ;�4 a distance 403 . 5 feet;
thence 89 Degrees 59-k4 Minutes East along the South line
of the North 403 . 5 feet of said Northeast �-4 of the
Southeast ',i a distance of 50 feet to the East line of
the Chicago Central & Pacific Railroad right-of-way
line, being point of beginning;. thence continuing North
89 Degrees 59"1 Minutes East along the South line a
distance of 739 . 1 feet (Recorded as 740 feet) to the
Southeast corner of the North 403 . 5 feet of the West
790 feet of said Northeast 1-4 of the Southeast 1�4; thence
North 299 . 9 feet to the Northeast corner of the South
300 feet of the North 403 . 5 feet of the West 790 feet
of the Northeast `4 of the Southeast 'ki; thence due East
along the South line of the North 103 . 5 feet of said
Northeast '4 of the Southeast � a distance of 15 feet;
thence South 699 . 5 feet to the South line of the North
803 . 5 feet of the Northeast 1�4 of the Southeast '-4;
thence North 89 Degrees 561-4 Minutes West along the
South line a distance of 156 . 7 feet; thence South 89
Degrees 56 Minutes West along the South line a distance
of 598 . 3 feet, said point also being a point on the
East line of the former Chicago Central & Pacific
Railroad right-of-way line; thence North 400 feet to
point of beginning; subject to easement, all in the
City of Waterloo, Black Hawk County, Iowa;
and,
WHEREAS, said property is ;located within the designated
Consolidated Urban Revitalization . Area in Waterloo, Iowa, as
previously established by the City Council of the City of
Waterloo, Iowa,
and,
H � w
< h H
e§c43ton No. 2008-1046
4' s� sr
AREAS, the improvement project respecting said property is
d�m oorrf'Grmance with the Consolidated Urban Revitalization Plan as
e�fjic .ally adopted by the City Council for the City of Waterloo,
Z71oarid
� KH�ZREAS, the improvements on said property were made during
f17Ee- tme in which such improvements are eligible for the tax
H exemption as set forth in the Consolidated Urban Revitalization
Plan as adopted by the City Council of the City of Waterloo,
Iowa, .and as set forth in the Urban Revitalization Act as adopted
C by ,_the Legislature of the State of Iowa and signed by the
Qovarnor of the State of Iowa, and
WHEREAS, said applicant is requesting the following
`c gXQ4ion schedule:
For the first year 80%
a_
° ` 'Eor the second year 70%
For the third year 60%
~_- dor 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, 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 by
February 1, 2009 .
PASSED AND ADOPTED this lst day of December, 2008 .
Tim Hurley, ayor
ATTEST:
Nancy E rt, CMC
City Cle