HomeMy WebLinkAbout2006-41-01/17/2006 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2006-41
RESOLUTION APPROVING APPLICATION WITH BYRON
PHILLIPS FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $161, 836. 00 FOR PROPERTY LOCATED AT
123 SABRINA CIRCLE IN THE CONSOLIDATED URBAN
REVITALIZATION AREA PLAN, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, Byron Phillips has submitted an application dated
January 17, 2006 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on improvements
totaling $161, 836. 00 for property located at 123 Sabrina Circle,
more fully described as follows :
Aerostat Heights Lot 26, all in the City of Waterloo,
Black Hawk County, Iowa;
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area in Waterloo, Iowa, as
previously established by the City Council of the City of
Waterloo, Iowa,
and,
WHEREAS, the improvement project respecting said property is
in conformance with the Consolidated Urban Revitalization 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
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 exemption
schedule:
For the first year 80%
For the second year 70%
For the third year 60%
For the fourth year 50e
For the fifth year 400
For the sixth year 400
For the seventh year 30%
For the eighth year 300
For the ninth year 200
For the tenth year 20%
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF 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 by
February 1, 2006.
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E€0a%ton No. 2006-41
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EASED AND ADOPTED this 17th day of January, 2006 .
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