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HomeMy WebLinkAbout2001-142-04.09.2001 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2001-142 RESOLUTION APPROVING THE APPLICATION TO THE IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT REQUESTING CERTIFICATION OF AN ENTERPRISE ZONE IN THE CITY OF WATERLOO AND PROVIDING FOR THE EXEMPTION FROM TAXATION OF THE IMPROVEMENTS MADE BY BUSINESSES WITHIN THE ZONE. WHEREAS, the City of Waterloo (hereinafter referred to as the "City") , State of Iowa, is a political subdivision organized and existing under the law and the Constitution of the State of Iowa (the "State") ; and WHEREAS, the purpose of 1997 Iowa Acts, House File 724 (the "Act") is to encourage mutual development objectives between communities and private business and to promote economic investment in enterprise zones within the State; and WHEREAS, the Act and administrative rules adopted by the Iowa Department of Economic Development require the City to approve, by resolution, the establishment of an enterprise zone and the submission of a request for certification to the Iowa Department of Economic Board; and WHEREAS, under the Act, one of the benefits provided to eligible businesses locating within a certified enterprise zone is a City exemption from taxation of all, or a portion, of the actual value added by improvements to real property that is : 1) directly related to new jobs created by the location or expansion of an eligible business in the zone, and 2) used in the operation of an eligible business within the zone; and WHEREAS, it is the intention of the City of exempt from location taxation all or a portion of the assessed real estate value added by improvements to the property, beginning the first year the improvements are assessed for taxation in the enterprise zone . NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF. THE CITY OF WATERLOO, IOWA, as follows : Section 1 . The City certifies that it is an eligible participant under the Act and meets the following distress criteria required under section 4 of the Act : a) The area has a per capita income of nine thousand six hundred dollars or less based on the 1990 census . b) The area has a family poverty rate of twelve percent or higher based on the 1990 census . Section 2 . The City hereby requests enterprise zone certification from the Iowa Department of Economic Development Board as authorized in section 2 of the Act for the following designated site of 4 . 5 miles, which the City certifies is less than 1% of the county area for the purposes of receiving the benefits under the Act. The legal description of the enterprise zone area to be certified is : Beginning at the intersection of the Southeasterly line of West Mullan Avenue and the Southwesterly line of the Resolution No. 2001-142 Page 2 Cedar River, thence Southeasterly along the Southwesterly line of said river to the Northwesterly line of West Eighteenth Street, thence Southwesterly along the Northwesterly line of West Eighteenth Street to its intersection with the Northerly line of Williston Avenue, thence Westerly along said North line to its intersection with the Southeasterly line of West Fourth Street, thence Northeasterly along the Southeasterly line of West Fourth Street to the point where the Easterly line of Sullivan Avenue would intersect, if extended southerly, with the Southeasterly line of West Fourth Street, thence North along the extension of and the East line of Sullivan Avenue to the North line of West Third Street, thence West along the North line of West Third Street to the East line of Kimball Avenue, thence North to South line of Reber Avenue, thence East along the South line of Reber to the East line of Sullivan Avenue, thence North along the East line of Sullivan Avenue to the South line of Sherwood Court, thence Westerly along the South line of Sherwood Court to the East line of Marsh Street, thence North along the East line of Marsh Street to the South line of Peoria Street, thence West along the South line of Peoria Street to the East line of Moir Street, thence South along the East line of Moir Street to the South line of Summit Avenue, thence West along the South line of Summit Avenue to the East line of Fletcher Avenue, thence North along the East line of Fletcher Avenue to its intersection with the Southeasterly line of Black Hawk Creek, thence Northeasterly along the Southeasterly line of Black Hawk Creek to the Southerly line of University Avenue, thence Easterly following University Avenue roadway to its intersection with the Southeasterly line of West Mullan Avenue as originally platted, thence Northeasterly along an extension of the Southeasterly line of West Mullan Avenue to its intersection with the South line of the Cedar River and Point of Beginning. Also, Beginning at a Point which is the intersection of the Westerly line of Fairview Avenue extended Southerly, and the Northeasterly line of the Cedar River, thence North along an extension of and the West line of Fairview Avenue to the North line of Conger Street, thence West along the North line of Conger to the Chicago Central & Pacific Railroad Line, thence Northerly along said Railroad Line across Broadway Street and the adjacent tracks to the Chicago Central and Pacific Railroad Line (that runs in front of the railroad yard) , thence Easterly along the Centerline of the most Northerly set of Chicago Central & Pacific tracks to the point at which the Centerline of Fairview Avenue extended would intersect said railroad Centerline thence North along the extension of the Centerline of Fairview Avenue, and the Centerline of Fairview Avenue to the South line of West Donald Street, thence East along the South line of West Donald Street to the Centerline of Columbia Street, thence South along the Centerline of Columbia Street (both public and private) to the center of the tracks of the Chicago Central and Pacific Railroad Line, thence Easterly and Southerly along the Centerline of the most Resolution No. 2001-142 Page 3 Northerly set of Chicago Central & Pacific tracks (that crosses Columbia Street, East 4th Street, and North Barclay Street) to a point at which the West line of Hewitt Street extended would intersect said railroad centerline, thence South along said extension and along the West line of Hewitt Street to the South line of Newell Street, thence East along the South line of Newell Street to its intersection with the Centerline of the most Northeasterly Chicago Central & Pacific right-of-way, thence Southerly and Easterly along the Centerline of the most Northeasterly Chicago Central & Pacific Railroad Line, to a line that is 605' North of and parallel with the South line of Section 19 Township 89 Range 12, thence West along said parallel line to the West line of Idaho Street, thence South along the West line of Idaho Street to the South line of Dubuque Road, thence Southeasterly along the Southwesterly line of Dubuque Road to the West line of the Chicago Central & Pacific Railroad spur line, thence South along the West line of said railroad to the West line of Fay Street, thence South along the West line of Fay Street and an extension of said line southerly to its intersection with the North line of the Cedar River, thence Northwesterly along the Northeasterly line of the Cedar River to the Point of Beginning. Except, Beginning at the Point of intersection of the Southeasterly line of East Third Street and the Southwesterly line of Franklin Street, thence Southeasterly along the Southwesterly line of Franklin Street to the Northwesterly line of East 7th Street, thence Southwesterly along said Northwesterly line and its extension across the Cedar River, thence continuing on the last described course to the intersection of the Northwesterly line of West Seventh Street, thence Southwesterly along said Northwesterly line of West Seventh Street to its intersection with the Northeasterly line of the physical street of the southbound Washington Street access road, thence Northwesterly along the Northeasterly line of said access road to its intersection with the Southeasterly line of West Third Street, thence Northeasterly along the Southeasterly line of West Third Street and its extension across the Cedar River, thence continuing on the last described course to the intersection of the Southeasterly line of East Third Street, thence Northeasterly along said Southeasterly line of East Third Street to its intersection with the Southwesterly line of Franklin Street, said point also being the Point of Beginning. Also, except Beginning at a Point on the South line of Lafayette Street at the Northeast corner of lot 1 block 1 Riverside Addition, thence Northerly across Lafayette Street right-of-way to the Southwest corner of block 15, Lane and Fowler' s second addition, thence Northerly along the West line of said block 15 to the South line of Mulberry Street, thence Easterly along the Southerly line of Mulberry Street to its intersection with the Westerly line of Vinton Street, thence Southerly along the Westerly line of Vinton Street to the Cedar River, thence Northwesterly along the Northeasterly line of Resolution No . 2001-142 Page 4 the Cedar River to the Southeasterly line of East 11th Street, thence Northeasterly along the Southeasterly line of East 11th Street to the Southerly line of Lafayette Street, thence Southeasterly along said line to the Point of Beginning. A detailed map of the area described above is identified in Exhibit "B" to this Resolution. Section 3 . The City exempts from taxation One Dollar ($1 . 00) . Section 4 . The City shall provide a copy of this resolution to the Iowa Department of Economic Development and shall file this resolution with the Black Hawk County Assessor. Section 5 . The following officers of the City are hereby authorized to take such further actions as are deemed necessary in order to carry into effect the provisions of this resolution: John R. Rooff, Mayor, and Nancy Eckert, City Clerk. Section 6. All resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 7 . The provisions of this resolution are hereby declared to be severable; and if any section, phrase, or provision shall for any reason be declared to be invalid, such declaration shall not effect the validity of the remainder of the sections, phrases, and provisions hereof. Section 8 . This resolution shall become effective immediately upon its passage and approval . PASSED AND ADOPTED this 9th day of April, 2001 . Jo R. oo f, Mayor ATTEST: rC4ht-,— Nancy Ec t, City Clerk