HomeMy WebLinkAbout2006-479-06/05/2006 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2006-479
RESOLUTION APPROVING APPLICATION WITH JAY
TREVOR FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $3 . 08 MILLION FOR PROPERTY LOCATED
AT 200 EAST ARLINGTON STREET IN THE
CONSOLIDATED URBAN REVITALIZATION AREA PLAN,
IN THE CITY OF WATERLOO, BLACK HAWK COUNTY,
IOWA.
WHEREAS, Jay Trevor has submitted an application dated June
5, 2006 to the City Council of the City of Waterloo, Iowa,
requesting to receive tax exemptions on improvements totaling
$3 . 08 million for property located at 200 East Arlington Street,
more fully described as follows :
Gates Park Place Lots 6-17 Block 2 and vacated alley in
said Block 2 lying East of Lots 6-11 and West of Lots
12-17, 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 Go' rrnor of the
State of Iowa, and
WHEREAS, said applicant is requesting the folio, ng 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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AND ADOPTED this 5th day of June, 2006.
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