HomeMy WebLinkAbout1990-066-02.05.1990 c
C 0
RESOLUTION NO. 1990-66
H H l7' Cr
RESOLUTION APPROVING APPLICATION OF AUTOMOTIVE ELECTRIC
FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS PERFORMED
o x -ON THE PROPERTY AT 500 WEST 5TH STREET WITHIN THE
• cry E WASHINGTON URBAN REVITALIZATION DISTRICT.
O
WHEREAS, Automotive Electric has submitted an application
dated February 1, 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 500 West 5th Street, more fully described as follows:
Orig Plat Wloo West NE 92 ft Lots 1 & 2 Blk 31 Exc Hwy, all
in the City of Waterloo, Black Hawk County, Iowa.
and,
WHEREAS, said property is located within the designated
Washington Urban Revitalization District 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 Washington Urban Revitalization 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 Washington Urban Revitalization
'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 by February 15, 1990.
PASSED AND ADOPTED this 5th day of February, 1990.
C.. ZL
Robert J. Brawn, Mayor Pro Tem
ATTEST:
Larr P. rger, City C erk uditor