HomeMy WebLinkAbout2005-789-08.22.2005 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2005-789
RESOLUTION APPROVING APPLICATION WITH PRAIRIE
CONSTRUCTION CO. FOR TAX EXEMPTIONS ON
IMPROVEMENTS TOTALING $206, 211 . 00 FOR
PROPERTY LOCATED AT 321 WEST 18TH STREET IN
THE CONSOLIDATED URBAN REVITALIZATION AREA
PLAN, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Prairie Construction Co. has submitted an
application dated August 22, 2005 to the City Council of the City
of Waterloo, Iowa, requesting to receive tax exemptions on
improvements totaling $206, 211 . 00 for property located at 321 West
18 h Street, more fully described as follows :
Kenwood Park Lot 25 except Southwesterly 10 feet Lots
26, 27, 28, 31, 32, 33, 34, 35 Lot 36 except
Southwesterly 10 feet Lot 37 except Southwesterly 10
feet Lots 38, 39, 40, 41, 42, 45, 46, 47 Lot 48 except
Southwesterly 10 feet vacated 19th Street from
Northwesterly line of Southwesterly 10 feet of Lots 37
and 36 to Southwesterly line of Jefferson Street and
vacated alley adjacent to the following described lots :
From Northwesterly line Southwesterly 10 feet of Lots
48 and 37 to Northeasterly line Lot 40 and 45, 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%
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF COUNCIL OF THE
:CITY OF WATERLOO, IOWA, that said application is hereby approved
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2 g arid- the City Clerk is hereby authorized and directed to forward
/ 2 Said application and a copy of this resolution to the Assessor by
w February 1, 2006.
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7r1 PASSED AND ADOPTED this 22nd day of August, 2005 .
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