HomeMy WebLinkAbout1990-097-02.19.1990 RESOLUTION NO. 1990-97
RESOLUTION APPROVING APPLICATION OF PHILLIPS 66 FOR
PROPERTY TAX EXEMPTION FOR IMPROVEMENTS PERFORMED ON
THE PROPERTY AT 701 FRANKLIN STREET WITHIN THE FRANKLIN
URBAN REVITALIZATION AREA PLAN, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, Phillips 66 has submitted an application dated
February 15, 1990, to the City Council of the City of Waterloo,
Iowa, requesting to receive an exemption from taxation of the
actual value added by improvements to the property located at
701 Franklin Street, more fully described as follows:
Cooley Addition, Waterloo, Lots 7 and 10, all in the City of
Waterloo, Black Hawk County, Iowa.
and,
WHEREAS, said property is located within the designated
Franklin Urban Revitalization Area Plan in Waterloo, Iowa, as
previously established by the City Council of the City of
Waterloo, Iowa, and
WHEREAS, the improvement project respecting said property is
in conformance with the Franklin Urban Revitalization Area Plan
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 Franklin Urban Revitalization Area
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
exemption schedule:
For the first year, one hundred percent
For the second year, one hundred percent
For the third year, one hundred percent
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that the 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 19th day of February, 1990.
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Betnard L. M K: nley, Mayor 77
ATTEST:
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Larr P. 'rger, C. y Clerk/Auditor
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