HomeMy WebLinkAbout2014-1020-12/01/2014 Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2014-1020
RESOLUTION APPROVING APPLICATION WITH FA JUN
SUN FOR TAX EXEMPTIONS ON THE CONSTRUCTION OF
A NEW SINGLE FAMILY HOME VALUED AT
$238, 000 . 00 FOR PROPERTY LOCATED AT 151
SABRINA CIRCLE IN THE CONSOLIDATED URBAN
REVITALIZATION AREA (CURA) , IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, Fa Jun Sun has submitted an application dated
June 25, 2014 to the City Council of the City of Waterloo, Iowa,
requesting to receive tax exemptions on the construction of a new
single family home valued at $238, 000 . 00 for property located at
151 Sabrina Circle, more fully described as follows:
Lot No. 30 in Aerostat Heights, in Waterloo, Black Hawk
County, Iowa;
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 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. 2014-1020
Page 2
PASSED AND ADOPTED this 1st day f December, 2014 .
1:ale'l
Ernest G. Clark, Mayor
ATTEST:
uzy Schares, CMC
City C erk