HomeMy WebLinkAboutCouncil Packet - 11/2/2020 Council Work Session
October 28, 2020
Time indicated below
Harold E. Getty Council Chambers
Roll Call.
Approval of Agenda, as proposed or amended.
4:40 p.m. Discussion of a resolution establishing an employee housing incentive
program.
Submitted By: Dave Boesen,At-Large Council member
ADJOURNMENT
Kelley Felchle
City Clerk
CITY OF WATERLOO
Council Communication
Discussion of a resolution establishing an employee housing incentive program.
City Council Meeting: 10/28/2020
Prepared: 10/28/2020
REVIEWERS:
Department Reviewer Action Date
Clerk Office Felchle, Kelley Approved 10/28/2020 - 11:11 AM
ATTACHMENTS:
Description Type
❑ Resolution as proposed Backup Material
SUBJECT: Discussion of a resolution establishing an employee housing incentive
program-
Submitted
ro rg am.
Submitted by: Submitted By: Dave Boesen,At-Large Council member
Recommended Action:
Summary Statement:
Expenditure Required:
Source of Funds:
Policy Issue:
Alternative:
Background Information:
RESOLUTION NO. 2020-XXX
RESOLUTION APPROVING A CITY OF WATERLOO
MUNICIPAL HOUSING INCENTIVE PROGRAM FOR CITY
EMPLOYEES.
WHEREAS, the City of Waterloo encourages its employees to live within the City of
Waterloo; and
WHEREAS, the City of Waterloo has residency requirements for critical employees that
allow them to live outside the city limits but within a reasonable distance; and
WHEREAS, city employees take pride in the work they do serving the citizens of
Waterloo and have a vested interest in the city they serve; and
WHEREAS, the City of Waterloo operates incentive programs through CLURA, CURA
and 657A. These incentives give tax breaks and/or financial compensation to homeowners and
buyers; and
WHEREAS, the Municipal Housing Incentive Program (MHIP) would encourage new or
existing employees to move within the corporate city limits of Waterloo by providing a five
thousand dollar ($5,000) grant to purchase a home within the city. The funding for this program
would come from the same funding sources as other housing incentives offered within the city;
and
WHEREAS, purchasing a home within the City of Waterloo increases the employee's
investment in the city they work and the citizens they serve; and
WHEREAS, employees who move into Waterloo under the MHIP and live here for five
years are invested in our city, our schools, and are more likely to make Waterloo their permanent
home throughout their career with the City of Waterloo; and
WHEREAS, employee homeowners in the City of Waterloo would be paying property
taxes, sending their children to our schools, shopping and discovering all the recreation
opportunities Waterloo has to offer.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, IOWA AS FOLLOWS:
Section 2. That employees entering into the MHIP would be required to be homeowners
within the city limits of the City of Waterloo for a minimum of five (5)years.
Section 3. That employees are allowed to move to another home within the city limits of
the City of Waterloo during the five (5) year grant period. Employees participating in the MHIP
would be prohibited from moving outside the city limits of the City of Waterloo or renting for
any period during the MHIP.
Section 4. The employee may choose to have the five thousand dollar ($5,000) down
payment grant paid as a lump sum, or paid in annual installments of one thousand dollars
($1000)per year for five (5)years.
PASSED AND ADOPTED this th day of November 2020.
Quentin Hart, Mayor
ATTEST:
Resolution No. 2020-XXX
Page 2
Kelley Felchle
City Clerk