HomeMy WebLinkAbout1982-038-01.25.1982 RESOLUTION NO. 1982-38
RESOLUTION APPROVING THE APPLICATIONS OF
CRYSTAL ICE AND COLD STORAGE FOR PROPERTY
TAX EXEMPTION FOR IMPROVEMENTS PERFORMED
ON INDUSTRIAL PROPERTIES LOCATED AT 90
SYCAMORE AND 105 E . 10TH STREETS WITHIN
THE CITY OF WATERLOO , IOWA.
WHEREAS , Crystal Ice and Cold Storage has submitted
applications dated January 14 , 1982 & January 19 , 1982 , to the
City Council of the City of Waterloo , Iowa , requesting to receive
exemptions from taxation on the actual value added by improvements
to industrial properties located at 90 Sycamore and 105 E . 10th
Streets ; and legally described as follows :
VIRDENS ADD EAST WL00 PART OF LOTS 1 & 2 BLK 1 ALSO
PART OF BLK 1 MILL LOT DES AS FOL :
BEG AT A PT ON NELY LINE LOT 1 VIRDENS ADD THAT IS
126 ' NWLY OF MOST ELY COR SAID LOT TH SWLY TO A PT
ON SWLY LINE LOT 2 VIRDENS ADD THAT IS 126 ' NWLY OF MOST SLY
COR LOT 2 TH NWLY ALONG SWLY LINE SAID LOT
2 & EXTENSION THEREOF A DIST OF 167 . 25 ' TH NELY
4. 27 ' TO A PT 115 . 73 ' FROM SWLY LINE SYCAMORE ST TH
NWLY 9. 04 ' TO A PT THAT IS 8. 5 ' PERPENDICULARLY DIST NELY
FROM CENTER LINE ILLINOIS CENTRAL RR TH NWLY ALONG A
LINE THAT IS PAR & 8. 5 ' PERPENDICULARLY DIST NELY FROM
CENTER LINE OF SAID TRACK A DIS OF 166 . 76 ' TH NELY ALONG A
LINE THAT IS PAR WITH NWLY LINE OF LOT 1 & 2 A DIST OF
14 . 7 ' TH NWLY IN A STRAIGHT LINE A DIST OF 63 . 8 ' TO A PT
THAT IS 38. 5 ' SWLY OF THE SWLY LINE OF SYCAMORE ST TH NELY
ALONG A LINE THAT IS PERPENDICULAR TO SWLY LINE SYCAMORE
ST A DIST OF 38. 5 ' TH SELY ALONG SWLY LINE OF SYCAMORE ST
TO THE PT OF BEG.
and
LOTS 5- 10 , BLK 20, ORIG PLAT WL00 EAST, WLOO ,
BLACK HAWK CO , IA.
WHEREAS , said properties are located within the Corporate
Limits of the City of Waterloo , Iowa ; and ,
WHEREAS , the improvement project respecting said properties
are in conformance with the Industrial Property Tax Abatement
Ordinance as officially adopted by the City Council of the City of
Waterloo, Iowa ; and ,
WHEREAS , the improvements on said properties were made
during the time in which such improvements are eligible for the
tax exemption as set forth in the Industrial Tax Abatement
Ordinance as adopted by the City Council of the City of Waterloo ,
Iowa , and as set forth in the Code of Ordinances , City of
Waterloo, Iowa , 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 - Seventy-Five Percent ( 75%)
For the Second Year - Sixty Percent (60%)
For the Third Year - Forty-Five Percent (45%)
For the Fourth Year - Thirty Percent ( 30%)
For the Fifth Year - Fifteen Percent ( 15%)
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO , IOWA , that said applications are hereby approved
and the City Clerk is hereby authorized and directed to forward
said applications and a copy of this resolution to the Assessor by
February 1 , 1982.
Passed and adopted this 25th day of January , 1982.
J ck L . Roehr, or Pro Tem
ATTEST :
ar y P. rger, Cit Clerk
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