HomeMy WebLinkAbout2007-123-2/19/2007 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2007-123
RESOLUTION APPROVING APPLICATION WITH GENE
STORM FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $148, 190. 00 FOR PROPERTY LOCATED AT
1022 SHORT STREET IN THE CONSOLIDATED URBAN
REVITALIZATION AREA PLAN, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, Gene Storm has submitted an application dated
January 30, 2007 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on improvements
totaling $148, 190. 00 for property located at 1022 Short Street,
more fully described as follows:
Unplatted Waterloo East part of the Southwest 1-4 of the
Northeast '-� of Section 29 Township 89 Range 12,
commencing at a point 685 feet East and 357 . 6 feet
North of the center point of Section 29 and extending
East 150 feet parallel with the East and West
centerline of Section 29, thence North 280 feet
parallel with the North and South centerline of Section
29, thence West 150 feet parallel with the East and
West centerline of Section 29, thence South 280 feet to
beginning, except a part of the Southwest 1,4 of the
Northeast 1-4 of Section 29 Township 89 Range 12
described as beginning at a point which is 685 feet
East and 357 . 6 feet North of center of Section 29,
thence North 93 feet, thence South 89 Degrees 27
Minutes 43 Seconds East 150 feet, thence South 93 feet,
thence North 89 Degrees 27 Minutes 44 Seconds West
150 . 11 feet to the point of beginning, 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:
Re�Otati,Qn No. 2007-123
'-,F2�t he first year 80%
7aFcxr�the second year 70%
-' ��- �r 'the third year 60%
ti �or the fourth year 50%
F&r the fifth year 40%
r the sixth year 40%
DoT the seventh year 30%
---ror the eighth year 30%
�Fbr the ninth year 20%
r the tenth year 20%
77
::NQW THEREFORE, BE IT RESOLVED BY THE CITY OF COUNCIL OF THE
"
CITY-F WATERLOO, IOWA, that said application is hereby approved
amd--- -t-Jie City Clerk is hereby authorized and directed to forward
saosapplication and a copy of this resolution to the Assessor by
1, 2008 .
A,I � ZPZSSED AND ADOPTED this 19th day of February, 2007 .
-Tim Hurley, Maz�f
ATT-EST-�
Nancy Ecker tA CMC
City Clerk V
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