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HomeMy WebLinkAbout2000-385-07.10.2000 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street, Waterloo, Iowa. RESOLUTION NO. 2000-385 RESOLUTION APPROVING APPLICATION WITH IOWA MACHINERY & SUPPLY CO. FOR TAX EXEMPTIONS ON IMPROVEMENTS TOTALING $750, 000. 00 FOR PROPERTY LOCATED AT 829 WESTFIELD AVENUE IN THE CONSOLIDATED URBAN REVITALIZATION AREA PLAN, IN THE CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA. WHEREAS, Iowa Machinery & Supply Co. has submitted an application dated July 10, 2000 to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemption on improvements totaling $750, 000. 00 for property located at 829 Westfield Avenue, more fully described as follows: That part of the Southeast Quarter (SEA) of Section Twenty-two (22) , the Southwest Quarter (SW141) of Section Twenty-three (23) , the Northeast Quarter of (NE14) of Section Twenty-seven (27) and the Northwest Quarter (NW 'el) of Section Twenty-six (26) , all in Township Eighty- nine North (T89N) , Range Thirteen West (R13W) of the Fifth Principal Meridian, City of Waterloo, Black Hawk County, Iowa, described as follows: Commencing at the Southeast corner of said Section Twenty-two (22) ; thence N 1°01' 35" W One Hundred Thirty- seven and Thirty-one Hundredths (137. 31) feet along the East line of said Southwest Quarter (SE14) of Section Twenty-Two (22) to the Southwesterly line of Westfield Avenue and point of beginning; thence N 48°25' 27" W Seventy-six and Seven Hundredths (76. 07) feet along said Southwesterly line; thence N 48°25' 04" W One Hundred Fifty (150. 00) feet along said Southwesterly line; thence N 48°25' 28" W One Hundred Twenty-four and Fifty- eight Hundredths (124 .58) feet along said Southwesterly line; thence S 66026' 19" W Three Hundred Five and Thirty- two Hundredths (305.32) feet to the former Northerly right-of-way line of the former Chicago, Rock Island and Pacific Railroad Company' s main track; nce Southeasterly on said former right-of-way line TwoHundred Eight-two and Seventy-one Hundredths (282 . 71) feet along a Two Thousand Two Hundred Forty-two and One Hundredth (2242 . 01) foot radius curve, concave Northeasterly with a long chord of Two Hundred Eighty- two and Fifty-two Hundredths (282 .52) feet which bears S 56°58' 54" E; thence continuing Southeasterly on said former right-of-way line Seventy-five (75. 00) feet along a Five Hundred Seventy-two and Ninety-six Hundredths (572. 96) foot radius curve, concave Southwesterly with a long chord of Seventy-four and Ninety-five Hundredths (74 . 95) feet which bears S 67015'23" E; Southeasterly One Hundred Fiftythence along a Two Thousand Two Hundred Thirty-four . and One tHundredth (2234 . 01) foot radius curve, concave Northeasterly with a long chord of One Hundred Forty-nine and Ninety-seven Hundredths (149. 97) feet which bears S 64000' 20" E to the south line of said Southeast Quarter (SE ) at a point which is One Hundred Three and Eighty-one Hundredths (103. 81) feet West of the Southeast corner of said Southeast Quarter (SE 1/ ) ; thence Southeasterly Four Resolution No. 2000-385 Page 2 Hundred Twenty and Fifty-five Hundredths (420.55) feet along a Two Thousand Two Hundred Thirty-four and One Hundredths (2243. 01) foot radius curve, concave Northeasterly with a long chord of Four Hundred Nineteen and Ninety-four Hundredths (419. 94) feet which bears S 71°19' 17" E; thence S 77°16' 13" E One Hundred Fifty-seven and Four Tenths (157 .40) feet to a point on the southerly right-of-way of Westfield Avenue; thence Northwesterly on said right-of-way line Four Hundred Six and Fifteen Hundredths (406. 15) feet along a One Thousand One Hundred Eight-six and Five Tenths (1186. 50) foot radius curve, concave Northeasterly with a long chord of Four Hundred Four and Seventeen Hundredths (404 . 17) feet which bears N 58°13' 53" W; thence N 48°25' 27" W One Hundred Forty-two and Nineteen Hundredths (142 . 19) feet to the point of beginning, containing 139, 862 square feet, all in the City of Waterloo, Black Hawk County, Iowa; and, That part of the Southeast Quarter (SE1-) of Section Twenty-two (22) , Township Eighty-nine North (T89N) , Range Thirteen West (R13W) of the Fifth Principal Meridian, City of Waterloo, Black Hawk County, Iowa, described as follows: Commencing at the Southeast corner of said Section Twenty-two (22) ; thence N 1°01' 35" W One Hundred Thirty- seven and Thirty-one Hundredths (137 .31) feet along the East line of said Southeast Quarter (SE 14) to the Southwesterly line of Westfield Avenue; thence N 48°25' 27" W Seventy-six and Seven Hundredths (76. 07) feet along said Southwesterly line to the point of beginning; thence N 87°35' 50" W Sixty-five and Sixty-two Hundredths (65. 62) feet; thence Southwesterly Two Hundred Nine and Thirty-six Hundredths (209.36) feet along a Two Hundred Fifty-five (255. 0) foot radius curve, concave Northwesterly, having a long chord of Two Hundred Three and Fifty-three Hundredths (203.53) feet which bears S 65°00' 32" W; thence S 88°31' 48" W Fifteen and Seventy- nine Hundredths (15. 79) feet; thence Northwesterly One Hundred Twenty-two and Seventy-one Hundredths (122 .71) feet along a Two Thousand Two Hundred Forty-two and One Hundredth (2242 . 01) foot radius curve, concave Northeasterly with a long chord of One Hundred Twenty- two and Sixty-nine Hundredths (122 . 69) feet which bears N 58°05' 14" W; thence N 88°31' 48" E One Hundred Eighteen and Twenty-five Hundredths (118 .25) feet; thence Northeasterly One Hundred Fifty-three and Ninety-four Hundredths (153. 94) feet along a One Hundred Eighty- seven and Five Tenths (187 .50) foot radius curve, concave Northwesterly with a long chord of One Hundred Forty-nine and Sixty-six Hundredths (149. 66) feet which bears N 65°00' 32" E; thence N 4°17' 40" E Fifty-two and Twenty-two Hundredths (52 .22) feet; thence S 48°25' 04" E One Hundred Fifty (150 . 00) feet to the point of beginning, containing 21 .373 square feet, all in the City of Waterloo, Black Hawk County, Iowa, and, WHEREAS, said property is located within the designated Resolution No. 2000-385 Page 3 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% 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, 2001 . PASSED AND ADOPTED this 10th day of July, 2000. John R. Rooff, Mayor ATTEST: Nancy Eckert, City Clerk This application was approved by the City Council on December 13 , 1999 by Resolution No . 1999-798 .