HomeMy WebLinkAbout2021-565-09.07.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-565
RESOLUTION APPROVING THE REQUEST OF STEEGE
INVESTMENTS, LLC, FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW SINGLE DUPLEX UNIT
VALUED AT $300,000, FOR PROPERTY LOCATED AT 122
CATHY JEAN COURT, AND LOCATED IN THE CITY LIMITS
URBAN REVITALIZATION AREA (CLURA).
WHEREAS, Steege Investments, LLC have submitted an application dated August 2,
2021, to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for
construction of a single duplex unit valued at $300,000, for property located at 122 Cathy Jean
Court, and located in the City Limits Urban Revitalization Area (CLURA), more fully described
as follows:
UNIT A IN BUILDING 5 AND THE UNDIVIDED PERCENTAGE INTEREST
IN THE COMMON ELEMENTS APPURTENANT THERETO, IN MAGNOLIA
VILLAS CONDOMINIUMS OF WATERLOO, BLACK HAWK COUNTY,
IOWA FILED APRIL 24, 2020 AND RECORDED AS DOC. #2020-18477 AND
AS AMENDED BY FIRST AMENDMENT IN DOC. #2020-20289 RECORDED
MAY 20, 2020, BEING LAID OUT ON LOT 12 OF MAGNOLIA HILLS, CITY
OF WATERLOO, BLACK HAWK COUNTY, IOWA.
Subject to easements, restrictions, covenants, ordinances and limited access provisions of
records, and
WHEREAS, said property is located within the designated City Limits Urban
Revitalization Area (CLURA) in Waterloo, Iowa, as previously established by the City Council
of the City of Waterloo, Iowa, and
WHEREAS, the new construction project respecting said property is in conformance with
the City Limits Urban Revitalization Area (CLURA) Plan as officially adopted by the City
Council for the City of Waterloo, Iowa, and
WHEREAS, the new construction on said property was made during the time in which
such improvements are eligible for the tax exemption as set forth in the City Limits Urban
Revitalization Area (CLURA) 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 three-year exemption schedule:
For the first year 100%
For the second year 100%
For the third year 100%
NOW, THEREFORE, BE IT RESOLVED BY THE CITY 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.
PASSED AND ADOPTED this 7th day of September 2021.
Quentin Hart, Mayor
Resolution No. 2021-565
Page 2
ATTEST:
LeAnn M. Even, CMC, IaCMC
Deputy City Clerk