HomeMy WebLinkAbout2014-863-10/06/2014 Prepared by DeAnne Kobliska, Administrative Secretary, City of
Waterloo, 715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2014-863
RESOLUTION APPROVING APPLICATION WITH R & S
COMMERCIAL, LLC FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW COMMERCIAL BUILDING
VALUED AT $300, 000 . 00 FOR PROPERTY LOCATED AT
1625 SYCAMORE STREET IN THE CONSOLIDATED
URBAN REVITALIZATION AREA (CURA) , IN THE CITY
OF WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, R & S Commercial, LLC has submitted an application
dated September 11, 2014 to the City Council of the City of
Waterloo, Iowa, requesting to receive tax exemptions on the
construction of a new commercial building valued at $300, 000 . 00
for property located at 1625 Sycamore Street, more fully
described as follows :
Lots 22, 23, 24, and 25, in Block 1, Morningside
Addition, City of Waterloo, Black Hawk County, Iowa;
Subject to easements of record, general utility and
right-of-way easements serving the premises, zoning
restrictions, and restrictive covenants, if any;
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 new construction project respecting said
property is 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 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 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 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 authorized and directed to forward
said application and a copy of this resolution to the Assessor.
PASSED AND ADOPTED this 6th da of October, 2014 .
ael
rnest G. Clar7-c, Mayor
ATTEST :
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City Cl rk
Suzy Sc ares, CMC
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