HomeMy WebLinkAbout2004-762-11.01.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2004-762
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA, SUPPORTING GANDOLF GROUP,
LLC FOR LOW INCOME HOUSING TAX CREDIT.
WHEREAS, the City of Waterloo, Iowa has been informed by
Gandolf Group, LLC that a Low-Income Housing Tax Credit
Application for Willow Springs Estates, LP will or has been
filed with the Iowa Finance Authority for the development of
affordable rental housing to be located at Idaho and Willow
Streets, Waterloo, Iowa with a legal description as follows :
A parcel of land located in the Northwest % of Section
19-89-12 , Waterloo, Black Hawk County, Iowa, described
as follows :
Beginning at the intersection of the North right-of-
way line of Willow Street and the West right-of-way
line of Idaho Street; thence West along the North
right-of-way line of Willow Street a distance of
852 . 50 feet ; thence North parallel with the East line
of the Northwest 14 of said Section 19 a distance of
844 . 05 feet more or less to the Southwesterly right-
of-way line of the Chicago Central Railroad; thence
Southeasterly along the Southwesterly railroad right-
of-way line to its intersection with the West right-
of-way line of Idaho Street; thence South along the
West right-of-way line of Idaho Street to the point of
beginning, all in the City of Waterloo, Black Hawk
County, Iowa.
WHEREAS, this housing project will contain up to 60 units,
and
WHEREAS, the units will be targeted to families, and
WHEREAS, the project will be a new construction, and
WHEREAS, the Ownership Entity has requested local assistance
through issuance of taxable revenue bonds .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that we support and approve the
development of the aforesaid housing in our community, subject
to city ordinances and the building permit process . This
resolution is effective until December 31, 2006 . In the event
that any of the characteristics mentioned above should change
prior to the issuance of a building permit, this resolution is
null and void.
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i§/ution No. 2004-762
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