HomeMy WebLinkAbout1990-069-02.05.1990 C) H
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c RESOLUTION APPROVING APPLICATION OF MILTON R. AND
CHERYL J. MALEDY FOR PROPERTY TAX EXEMPTION FOR
IMPROVEMENTS PERFORMED ON THE PROPERTY AT 111 SOUTH
STREET WITHIN THE WEST WASHINGTON URBAN REVITALIZATION
AREA.
WHEREAS, Milton R. and Cheryl J. Maledy have 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 111 South Street, more fully described as
follows:
Orig Plat Wloo West SW 130 Ft SE 45 Ft Lot 7 Blk 26 SW 130
Ft Lot 8 Blk 26 Exc SE 35 Ft & SE 35 Ft Lot 8 Blk 26 Exc NE
66 Ft, all in the City of Waterloo, Black Hawk County, Iowa,
and, -
WHEREAS, said property is located within the designated
West Washington Urban Revitalization Area 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 West Washington Urban Revitalization Area
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 West Washington Urban
Revitalization Area 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, eighty percent
For the second year, seventy percent
For the third year, sixty percent
For the fourth year, fifty percent
For the fifth year, forty percent
For the sixth year, forty percent
For the seventh year, thirty percent
For the eighth year, thirty percent
For the ninth year, twenty percent
For the tenth year, twenty 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.
Robert J. Brown, Mayor Pro Tem
ATTEST:
Lar y P. urger, ity Clerk/Auditor