HomeMy WebLinkAbout2004-763-11.01.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2004-763
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA, SUPPORTING HIGHLAND
CROSSING I , LLLP FOR LOW INCOME HOUSING TAX
CREDIT.
WHEREAS, the City of Waterloo, Iowa has been informed by
Highland Crossing I, LLLP that a Low-Income Housing Tax Credit
Application will or has been filed with the Iowa Finance
Authority for the development of affordable rental housing to be
located along Idaho Street, north of Stokes Manor, Waterloo,
Iowa with a legal description 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 (Rl2W) of
the Fifth Principal Meridian, City of Waterloo, Black
Hawk County, Iowa, lying Southerly of the right-of-way
of the Chicago and Northwestern Transportation Company
Railroad and Westerly of the Chicago Central and
Pacific Railroad Property (Formerly the Waterloo,
Cedar Falls and North Railway) ; except the South Six
Hundred Five (605 . 00) feet thereof, and except that
part deeded to the City of Waterloo, Iowa, as recorded
in Land Deed Record 552 at page 884 and except that
part of said West One-half (W ) 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%) ; 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 to the
Northwest corner of Parcel "A" as recorded in Fee Book
2003-08955 at the office of the Black Hawk County
Recorder; thence North 90°00 ' 00" East One Hundred
Forty-three and Eighty-seven Hundredths (143 . 87) feet
along the North line of said Parcel "A" to the
Northwest corner of Parcel "B" as recorded in Misc .
339-674 at the office of the Black Hawk County
Recorder; thence South 86°02 ' 20" East One Hundred
Thirty-four and Seventy-two Hundredths (134 . 72) feet
along the North line of said Parcel "B" to the
Northeast corner of said Parcel "B" , and the North
line of said Parcel "A" ; thence South 82°47' 00" East
Two Hundred Sixty-two and Thirteen Hundredths (262 . 13)
feet along said North line of Parcel "A" ; thence North
90°00' 00" East Three Hundred Thirty-seven and Sixty-
two Hundredths (337 . 62) feet along said North line of
Parcel "A" to the Northwest corner of Parcel "C" as
recorded at Misc . 339-674 in the office of the Black
Hawk County Recorder; thence North 90°00' 00" East
Fifty and Seventy-nine Hundredths (50 . 79) feet along
the North line of said Parcel "C" to the Northeast
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Resolution No. 2004-763
Page 2
H �
O tr- E-+
O O >C
tbrner of said Parcel "C" ; thence South 00°00 ' 00" West
EH : Ninety-seven
and
mn H Forty-seven Hundredths (97 .47) feet along the East
H line of said Parcel "C" to the Southeast corner of
1-1
0 said Parcel "C" and a point on the Easterly line of
o b said Parcel "A" ; thence South 00°00 ' 30" West Fifty
�4+ s n (50 . 00) feet along said Easterly line of Parcel "A" ;
in13thence South 89°59' 30" East Two Hundred Seventy-four
y m and Fourteen Hundredths (274 . 14) feet along the
0• CD - Northerly line of said Parcel "A" to the Westerly line
of the Chicago Central and Pacific Railroad property;
o
o x :- thence Southeasterly One Hundred One and Eighty-six
Hundredths (101 . 86) feet along said Westerly line
Hcc) which is a One Thousand Eight Hundred Fifty and Eight
cc) Hundredths (1, 850 . 08) foot radius curve, concave
0 Westerly, with a long chord of One Hundred One and
L' oEighty-five Hundredths (101 . 85) feet which bears South
10°54 ' 10" East to the North line of the South Six
PICHundred Five (605) feet of said Southeast Quarter
(SE%) ; thence South 89°59' 20" West One Thousand Two
O Hundred Twenty-two and Seventy-four Hundredths
..0 (1 , 222 . 74) feet to the point of beginning, all in the
tCity of Waterloo, Black Hawk County, Iowa.
WHEREAS, this housing project will contain up to 52 units,
and
WHEREAS, the units will be targeted to medium to large
families, and
WHEREAS, the project will be a new construction, and
WHEREAS, the Ownership Entity has requested local assistance
through a tax abatement .
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.
PASSED AND ADOPTED this lst day of November, 2004 .
/Gras
Tim Hurley, M or
ATTEST:
Nanck Eck t, CMC
City Cler