HomeMy WebLinkAbout2004-607-09.07.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2004-607
RESOLUTION APPROVING APPLICATION WITH
HIGHLAND PARK, L. P. FOR TAX EXEMPTIONS ON
IMPROVEMENTS TOTALING $2 , 196, 412 .40 FOR
PROPERTY LOCATED AT 1311-1528 PROSPECT AVENUE
IN THE CONSOLIDATED URBAN REVITALIZATION AREA
PLAN, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, Highland Park, L. P. has submitted an application
dated September 7, 2004 , to the City Council of the City of
Waterloo, Iowa, requesting to receive tax exemptions on
improvements totaling $2 , 196, 412 .40 for property located at 1311-
1528 Prospect Avenue, more fully described as follows :
That part of the West One-half (W ) of the Southeast
Quarter (SE'%) of Section Nineteen (19) , Township
Eighty-nine North (T89N) , Range Twelve West (R12W) of
the Fifth Principal Meridian, City of Waterloo, Black
Hawk County, Iowa, described as follows :
Beginning at a point on the East line of Idaho Street
which is Six Hundred Five (605) feet North of the South
line of said Southeast Quarter (SE'A) ; thence North
00°00 ' 00" East One Hundred Seventy-two (172 . 00) feet
along the East line of Idaho Street; thence North
1°18 ' 00" East One Hundred Seventeen and Fifty-four
Hundredths (117 . 54) feet along said East line; thence
North 90°00' 00" East One Hundred Forty-three and
Eighty-seven Hundredths (143 . 87) feet; thence South
00°00 ' 00" West Seventy-five and Forty-two Hundredths
(75 . 42) feet; thence South 89°56' 45" East One Hundred
Twenty-Six and One Hundredth (126 . 01) feet ; thence
North 7°13 ' 00" East Sixty-six and Seventy-six
Hundredths (66 . 76) feet; thence South 82°47' 00" East
Two Hundred Sixty-two and Thirteen Hundredths (262 . 13)
feet ; thence North 90°00 ' 00" East Three Hundred Thirty-
seven and Sixty-two Hundredths (337 . 62) feet ; thence
South 00°00' 00" West Ninety-seven and Forty-six
Hundredths (97 . 46) feet; thence South 89°59' 30" East
Fifty and Seventy-nine Hundredths (50 . 79) feet; thence
South 00°00' 30" West Fifty (50 . 00) feet ; thence South
89°59' 30" East Two Hundred Seventy-four and Nine
Hundredths (274 . 09) feet to the Westerly line of the
Chicago Central and Pacific Railroad property; thence
Southeasterly One Hundred One and Eighty-six Hundredths
(101 . 86) feet along said Westerly line which is a One
Thousand Eight Hundred Fifty and Eight Hundredths
(1 , 850 . 08) foot radius curve, concave Westerly, with a
long chord of One Hundred One and Eighty-five
Hundredths (101 . 85) feet which bears South 10°54 ' 10"
East to the North line of the South Six Hundred Five
(605) feet of said Southeast Quarter (SE%) ; thence
South 89°59' 20" West One Thousand Two Hundred Twenty-
two and Seventy-four Hundredths (1, 222 . 74) feet to the
point of beginning, containing 5 . 96 acres, all in the
City of Waterloo, Black Hawk County, Iowa.
Parcel "B"
That part of the West One-half (W%) of the Southeast
Quarter (SEM) of Section Nineteen (19) , Township
Resolution No. 2004-607
Page 2
Eighty-nine North (T89N) , Range Twelve West (R12W) of
the Fifth Principal Meridian, City of Waterloo, Black
Hawk County, Iowa, described as follows :
Commencing at a point on the East line of Idaho Street
which is Six Hundred Five (605) feet North of the South
line of said Southeast Quarter (SE1/,) ; thence North
00°00' 00" East One Hundred Seventy-two (172 . 00) feet
along the East line of Idaho Street; thence North
1°18 ' 00" East One Hundred Seventeen and Fifty-four
Hundredths (117 . 54) feet along said East line; thence
North 90°00 ' 00" East One Hundred Forty-three and
Eighty-seven Hundredths (143 . 87) feet to the point of
beginning; thence South 00°00' 00" West Seventy-five and
Forty-two Hundredths (75 . 42) feet ; thence South
89°56 ' 45" East One Hundred Twenty-six and One Hundredth
(126 . 01) feet; thence North 7°13 ' 00" East Sixty-six and
Seventy-six Hundredths (66 . 76) feet; thence North
86°02 ' 20" West One Hundred Thirty-four and Seventy-two
Hundredths (134 . 72) feet to the point of beginning,
containing 0 . 21 acres, all in the City of Waterloo,
Black Hawk County, Iowa.
Parcel "C"
That part of the West One-half (W of the Southeast
Quarter (SE1A) of Section Nineteen (19) , Township
Eighty-nine North (T89N) , Range Twelve West (R12W) of
the Fifth Principal Meridian, City of Waterloo, Black
Hawk County, Iowa, described as follows :
Commencing at a point on the East line of Idaho Street
which is Six Hundred Five (605) feet North of the South
line of said Southeast Quarter (SOX) ; thence North
00°00 ' 00" East One Hundred Seventy-two (172 . 00) feet
along the East line of Idaho Street ; thence North
1°18 ' 00" East One Hundred Seventeen and Fifty-four
Hundredths (117 . 54) feet along said East line; thence
North 90°00 ' 00" East One Hundred Forty-three and
Eighty-seven Hundredths (143 . 87) feet ; thence South
00°00' 00" West Seventy-five and Forty-two Hundredths
(75 . 42) feet ; thence South 89°56' 45" East One Hundred
Twenty-six and One Hundredths (126 . 01) feet ; thence
North 7°13 ' 00" East Sixty-six and Seventy-six
Hundredths (66 . 76) feet; thence South 82°47' 00" East
Two Hundred Sixty-two and Thirteen Hundredths (262 . 13)
feet; thence North 90°00' 00" East Three Hundred Thirty-
seven and Sixty-two Hundredths (337 . 62) feet to the
point of beginning; thence South 00°00' 00" West Ninety-
seven and Forty-six Hundredths (97 . 46) feet; thence
South 89°59' 30" East Fifty and Seventy-nine Hundredths
(50 . 79) feet ; thence North 00°00' 00" East Ninety-seven
and Forty-seven Hundredths (97 . 47) feet; thence North
90°00' 00" West Fifty and Seventy-nine Hundredths
(50 . 79) feet to the point of beginning, containing 0 . 11
acres, 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,
tetsgl,ut. oln No. 2004-607
� 7H �I1j
t1 0 •op
ro s "} AS the improvement
o � � � P project respecting said property is
-'rip cotf�rmance with the Consolidated Urban Revitalization Plan as
H � (a..4 adopted by the City Council for the City of Waterloo,
{�7
`C�l�i� C�`
nC
s rj v~i igkEAS, the improvements on said property were made during
in which such improvements are eligible for the tax
ig)tiptti¢tirn as set forth in the Consolidated Urban Revitalization
o MII, 4iFodopted by the City Council of the City of Waterloo,
' ,tria4 as set forth in the Urban Revitalization Act as adopted
4� s tl %egislature of the State of Iowa and signed by the
owr of the State of Iowa, and
osOHsH
riiHEiEAS, said applicant is requesting the following
ec 4K schedule :
Htri
L the first year 80%
o ocbri- the second year 70%
" t17n
s cr the third year 60%
the fourth year 50%
hi H d the fifth year 40%
s ro@ the sixth year 40%
H Fcr 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, 2005 .
PASSED AND ADOPTED this 7th day of September, 2004 .
,)Vr24
Tim Hurley, Madyor
ATTEST:
Nancy Ecke , CMC
City Clerk