HomeMy WebLinkAbout2021-043-02.01.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-043
RESOLUTION APPROVING THE REQUEST OF MDJNAD
INVESTMENT, LLC, FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A SINGLE DUPLEX UNIT VALUED AT
$174,900, FOR PROPERTY LOCATED AT 833 GRINDSTONE
CIRCLE, AND LOCATED IN THE CITY LIMITS URBAN
REVITALIZATION AREA (CLURA).
WHEREAS, MDJNAD Investment, LLC, has submitted an application dated January 9,
2021, to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for
construction of a single duplex unit valued at $174,900, for property located at 833 Grindstone
Circle, and located in the City Limits Urban Revitalization Area (CLURA), more fully described
as follows:
UNIT 833 AND THE UNDIVIDED INTEREST IN THE COMMON
ELEMENTS APPURTENANT TO SAID UNIT, IN PRAIRIE MEADOW
ESTATES, A CONDOMINIUM, PURSUANT TO DECLARATION OF
HORIZONTAL PROPERTY REGIME RECORDED IN DOC NO. 2017-11285
ON DECEMBER 16, 2016, AS AMENDED BY FIRST AMENDMENT IN
DOC. NO. 2017-13976 RECORDED FEBRUARY 3, 2017, AS AMENDED BY
SECOND AMENDMENT IN DOC. NO. 2019-2874, RECORDED AUGUST 20,
2018, AS AMENDED BY THIRD AMENDMENT IN DOC. NO. 2020-1458
FILED JULY 24, 2019, AS AMENDED BY THE FOURTH AMENDMENT IN
DOC. NO. 2020-17423 FILED APRIL 9, 2020, AS AMENDED BY FIFTH
AMENDMENT IN DOC. NO. 2021-1251, FILED JULY 17, 2020, AND AS
SUBSEQUENTLY MAY BE AMENDED BEING LAID OUT ON LOTS 1
THOUGH 7 AND LOT A IN PRAIRIE MEADOW ESTATES ADDITION,
CITY OF WATERLOO, 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 City Limits Urban
Revitalization Area (CLURA) in Waterloo, Iowa, as previously established by the City Council
of the City of Waterloo, Iowa, and
WHEREAS, the new construction project respecting said property is in conformance with
the City Limits Urban Revitalization Area (CLURA) Plan as officially adopted by the City
Council for the City of Waterloo, Iowa, and
WHEREAS, the new construction on said property was made during the time in which
such improvements are eligible for the tax exemption as set forth in the City Limits Urban
Revitalization Area (CLURA) 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 three-year exemption schedule:
For the first year 100%
For the second year 100%
For the third year 100%
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
Resolution No. 2021-
Page 2
authorized and directed to forward said application and a copy of this resolution to the Assessor.
PASSED AND ADOPTED this 1st day of February 2021.
Quentin Hart, Mayor
ATTEST:
Keith, �e/c/e
Kelley Felchle
City Clerk