HomeMy WebLinkAbout2022-638-10.17.2022Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2022-638
RESOLUTION APPROVING THE REQUEST BY JSA
DEVELOPMENT, LLC, FOR TAX EXEMPTIONS ON TWO
APARTMENTS VALUED AT $590,000.00, FOR PROPERTY
LOCATED AT 519 EAST 3RD STREET, AND LOCATED IN
THE CONSOLIDATED URBAN REVITALIZATION AREA
(CURA).
WHEREAS, JSA Development, LLC, has submitted an application dated September 28,
2022, to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on
two appartments valued at $590,000.00, for property located at 519 East 3rd Street, and located in
the Consolidated Urban Revitalization Area (CURA), more fully described as follows:
THE SOUTHWESTERLY ONE-HALF OF LOT 4; THE SOUTHEASTERLY
97.3 FEET OF THE SOUTHWESTERLY 5 FEET OF THE NORTHEASTERLY
ONE-HALF OF LOT 4; AND THE NORTHEASTERLY ONE-FOURTH OF
LOT 5; ALL IN BLOCK 63 IN COOLEY ADDITION, WATERLOO, IOWA,
AND ALSO THAT CERTAIN UNDIVIDED ONE-THIRD INTEREST IN THE
SOUTHEASTERLY 60 FEET OF LOT 6, BLOCK 63 IN THE COOLEY
ADDITION TO WATERLOO, IOWA, WHICH WAS CONVEYED TO
HERBERT M. REED BY WARRANTY DEED FILED JUNE 29, 1910 AND
RECORDED IN BOOK 72 OF TOWN LOT DEEDS, AT PAGE 432 IN THE
OFFICE OF THE COUNTY RECORDER OF BLACK HAWK COUNTY,
IOWA.
Subject to easements required as part of the pending subdivision infrastructure, restrictions,
covenants, ordinances and limited access provisions of records, and
WHEREAS, said property is located within the designated Consolidated Urban
Revitalization Area (CURA) in Waterloo, Iowa, as previously established by the City Council of
the City of Waterloo, Iowa, and
WHEREAS, the construction improvements are in conformance with the Consolidated
Urban Revitalization Area (CURA) 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 Area (CURA) 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 10-year partial 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%
Resolution No. 2022-638
Page 2
For the tenth year 20%
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 17th day of October 2022.
Quentin Hart, Mayor
ATTEST:
Kelley Felchle, City Clerk
SEAL