HomeMy WebLinkAbout1982-052-02.01.1982 RESOLUTION NO. 1982-52
RESOLUTION APPROVING THE APPLICATION OF
PIONEER HI-BRED INTERNATIONAL FOR
PROPERTY TAX EXEMPTION FOR IMPROVEMENTS
PERFORMED ON INDUSTRIAL PROPERTY LOCATED
AT 3271 W. AIRLINE HWY . WITHIN THE CITY
OF WATERLOO , IOWA.
WHEREAS , Pioneer Hi -Bred International has submitted
application dated January 26 , 1982, to the City Council of the
City of Waterloo , Iowa , requesting to receive exemption from
taxation on the actual value added by improvements to industrial
property located at 3271 W. Airline Hwy . ; and more fully described
as follows :
S. 1202 ' of the North 1302 ' of the East 1000 ' of
the NW 1/4 of the NE 1/4 of Sect 8 T89 R13 exc. the
east 400 ' of the South 650 ft of the North 750 ft and
except the West 150 ' of the North 1102 ' and except Hwy .
in Sect 8 T89 R13 W in the City of Waterloo , Black
Hawk County , Iowa .
WHEREAS , said property is located within the Corporate
Limits of the City of Waterloo, Iowa ; and,
WHEREAS , the improvement project respecting said property
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 property 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 application is hereby approved
and the City Clerk is hereby authorized and directed to forward
m said application and a copy of this resolution to the Assessor by
c) February 1 , 1982.
� Brae
�- �- Passed and adopted this 1st day of February , 1982.
S C O F
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�, Leo P. Rooff, Mayo(
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J TTEST-_-, c
r rger, Ci Clerk
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