HomeMy WebLinkAbout2008-147-2/25/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-147
RESOLUTION APPROVING APPLICATION WITH
CHAMPION MOTORS FOR TAX EXEMPTIONS ON
IMPROVEMENTS TOTALING $154, 828 . 00 FOR
PROPERTY LOCATED AT 1825 JEFFERSON STREET IN
THE CONSOLIDATED URBAN REVITALIZATION AREA
PLAN, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Champion Motors has submitted an application dated
February 13, 2008 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on improvements
totaling $154, 828 . 00 for property located at 1825 Jefferson
Street, more fully described as follows :
Hayes Addition Lot 8 Block 7 Lot 9 Block 7 Lot 10 Block
7, 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 applicant is requesting the following exemption
schedule:
For the first year 80%
For the second year 70%
For the third year 60%
For 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 200
For the tenth year 200
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF 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 .
Resolution No. 2008-147
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-'PASSED AND ADOPTED this 25^ day of February, 2008 .
< Reggie Schmitt, Mayor Pro Tem
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