HomeMy WebLinkAbout2008-357-5/5/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-357
RESOLUTION APPROVING APPLICATION WITH DAVID
PALMER FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $94, 339. 00 FOR PROPERTY LOCATED AT
305 COTTAGE STREET IN THE CONSOLIDATED URBAN
REVITALIZATION AREA PLAN, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, David Palmer has submitted an application dated
April 19, 2008 to the City Council of the City of Waterloo, Iowa,
requesting to receive tax exemptions on improvements totaling
$94, 339. 00 for property located at 305 Cottage Street, more fully
described as follows :
Railroad Addition Waterloo Tact B described as follows :
Lot 4 and part of Lot 5 Block 2 commencing at the
Southwest corner of Lot 6, thence due East along the
South line of Block 2 90 . 3 feet to the point of
beginning; thence North 144 . 1 feet to the North line of
Lot 5; thence South 89 Degrees 551 Minutes East along
said North line and the North line of Lot 4 90 . 2 feet
to the Northeast corner of Lot 4 ; thence South along
the East line of Lot 4 144 feet (recorded 140 feet ) to
the Southeast corner of Lot 4; thence due West along
the South line of Block 2 90 . 2 feet to the 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,
WHEREAS, the improvement project, respecting said property is
in conformance with the Consolidated Urban Revitalization Plan as
officially adopted by the City Council for the City of Waterloo,
Iowa, and
WHEREAS, the improvements on said property were made during
the time in which such improvements are eligible for the tax
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
by the Legislature of the State of Iowa and signed by the
Governor of the State of Iowa, and
WHEREAS, said applicants are requesting the following
exemption schedule :
For the first year 800
For the second year 70%
For the third year 600
For the fourth year 50%
For the fifth year 40%
For the sixth year 400
For the seventh year 30%
For the eighth year 30%
For the ninth year 20%
For the tenth year 20%
lke aA= No. 2008-357
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140F, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
(;�it)t-' �.7,F ✓WATERLOO, IOWA, that said application is hereby approved
pd;- �t h4--- City Clerk is hereby authorized and directed to forward
said--apailication and a copy of this resolution to the Assessor by
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1, 2009 .
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c m n HASSED AND ADOPTED this 5th day of May, 2008 .
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