HomeMy WebLinkAbout2020-750-10.05.2020Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2020-750
RESOLUTION APPROVING THE REQUEST OF CECILE
BEDOR FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF A NEW 47-UNIT MULTI -FAMILY BUILDING VALUED
AT $7,169,175, FOR PROPERTY LOCATED AT 1009 S.
HACKETT ROAD, AND LOCATED IN THE CONSOLIDATED
URBAN REVITALIZATION AREA (CURA).
WHEREAS, Cecile Bedor has submitted an application dated August 26, 2020, to the
City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for the
construction of a new 47-unit multi -family building valued at $7,169,175, for property located at
1009 S. Hackett Road, and located in the Consolidated Urban Revitalization Area (CURA), more
fully described as follows:
PARCEL "H" OF PLAT OF SURVEY RECORDED DOC. #2007-14334, FILED
DECEMBER 27, 2006, AND RECORDED IN DOC. 2015-18714, FILED MAY
19, 2015 AS PART OF THE SOUTHWEST QUARTER OF SECTION 21,
TOWNSHIP 89 NORTH, RANGE 13 WEST OF THE 5TH P.M., BLACK
HAWK COUNTY, IOWA.
Subject to easements, restrictions, covenants, ordinances and limited access provisions of
records, and
WHEREAS, said property is located within the designated Consolidated Urban
Revitalization Area (CURA) in Waterloo, Iowa, as previously established by the City Council of
the City of Waterloo, Iowa, and
WHEREAS, the construction improvements are in conformance with the Consolidated
Urban Revitalization Area (CURA) 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 Area (CURA) 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 10-year partial 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%
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.
Resolution No. 2020-750
Page 2
PASSED AND ADOPTED this 5th day of October 2020.
Ougn-tin 1-{art
Quentin Hart, Mayor
ATTEST:
Ke//ee �e/clile
Kelley Felchle, City Clerk