HomeMy WebLinkAbout2006-111-02/13/2006 This Resolution prepa ed by Nancy Lck rr. pit, clerk, /'_ Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 200 -111
RESOLUTE_ APLROVING APPLICATION WI1H JSA
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DEVELOPM 'T LLC FOR TAX EXEMPTIONS ON
IMPROVEMENTS TOTALING $117, 880. 00 FOR
PROPERTY LOCATED AT 324 EAST 4TH STREET IN
THE CONSOLIDATED URBAN REVITALIZATION AREA
PLAN, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, JSA Development LLC has submitted an application
dated February 13, 2006 to the City Council of the City of
Waterloo, Iowa, requesting to receive tax exemptions on
improvements totaling $117, 880. 00 for property located at 324 East
4th Street, more fully described as follows :
Original Plat of Waterloo East the Northwest 100 feet
of the Southwest 20 feet of Lot 2 Block 28 and easement
over 10 feet adjacent on the Southeast, all in the City
of Waterloo, Black Hawk County, Iowa;
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area in Waterloo, Iowa, as
previously established by the City Council of the City of
Waterloo, Iowa,
and,
WHEREAS, the improvement project respecting said property is
in conformance with the Consolidated Urban Revitalization Plan as
officially adopted by the City Council for the City of Waterloo,
Iowa, and
WHEREAS, the improvements on said property were made during
the time in which such improvements are eligible for the tax
exemption as set forth in the Consolidated Urban Revitalization
Plan as adopted by the City Council of the City of Waterloo, Iowa,
and as set forth in the Urban Revitalization Act as adopted by the
Legislature of the State of Iowa and signed by the Governor of the
State of Iowa, and
WHEREAS, said applicant is requesting the following exemption
schedule:
For the first year 80%
For the second year 70$
For the third year 60%
For the fourth year 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 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, 2007 .
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Resuton No. 2006-111
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'R PASSED AND ADOPTED this 13th day of February, 2006.
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