HomeMy WebLinkAbout2023-078-02.06.2023Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-078
RESOLUTION APPROVING THE REQUEST BY WALLACE
INVESTMENT GROUP, FOR TAX EXEMPTIONS ON
CONSTRUCTION OF TWO DUPLEX UNITS VALUED AT
$386,000.00, FOR PROPERTY LOCATED AT 1018 AND 1020
FLETCHER AVENUE AND LOCATED IN THE CITY LIMITS
URBAN REVITALIZATION AREA (CLURA).
WHEREAS, Wallace Investment Group submitted an application dated January 5, 2023,
to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on the
construction of two duplex units valued at $386,000.00, for property located at 1018 and 1020
Fletcher Avenue, and located in the City Limits Urban Revitalization Area (CLURA), more fully
described as follows:
ROSE GARDEN CONDOMINIUMS BLDG, 1018 UNIT A
ROSE GARDEN CONDOMINIUMS BLDG, 1018 UNIT B
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 6th day of February 2023.
Quen-an 9 rl1
Quentin Hart, Mayor
Resolution 2023-078
Page 2
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
SEAL