HomeMy WebLinkAbout2007-101-02/12/2007 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2007-101
RESOLUTION APPROVING APPLICATION WITH THE
ROSE OF WATERLOO, L. P. FOR TAX EXEMPTIONS ON
IMPROVEMENTS TOTALING $7, 389, 961 . 00 FOR
PROPERTY LOCATED AT 421 OAK AVENUE IN THE
CONSOLIDATED URBAN REVITALIZATION AREA PLAN,
IN THE CITY OF WATERLOO, BLACK HAWK COUNTY,
IOWA.
WHEREAS, The Rose of Waterloo, L. P. has submitted an
application dated January 29, 2007 to the City Council of the City
of Waterloo, Iowa, requesting to receive tax exemptions on
improvements totaling $7, 389, 961 . 00 for property located at 421
Oak Avenue, more fully described as follows:
Parcel "E", being all of Lot Eight (8) and parts of
Lots One (1) , Two (2) and Three (3) of Uriah Dubois
Addition and parts of Lots Forty-eight (48) and Forty-
nine (49) of Morris Case Addition, of the Southeast
Quarter (SE1/4) of Section Twenty-three (23) , Township
Eighty-nine (89) North, Range Thirteen (13) West of the
Fifth Principal Meridian (5th P.M. ) , in the City of
Waterloo, Black Hawk County, Iowa, State of Iowa, as
shown on the "Plat of Survey" filed in the office of
the Recorder of Black Hawk County, Iowa on August 17,
2006, and recorded as Document No. 2007004077;
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 20%
For the tenth year 20%
A:
Ria�_ /on No. 2007-101
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF COUNCIL of THE
cam/ &e WATERLOO, Io A, that said application is hereby approved
x ar�d the, city clerk is hereby authorized and directed to forward
sem± application an a copy of this resolution to the Assessor by
/ Eebr-,p/m I, 200e .
\ -7 \ ?ASSED AND ADOPTED this 12thday of February, 2007 .
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