HomeMy WebLinkAbout2024-036-02.05.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-036
RESOLUTION APPROVING THE REQUEST BY JSA
DEVELOPMENT, LLC, FOR TAX EXEMPTIONS ON THE
IMPROVEMENTS TO A RESIDENTIAL APARTMENT UNIT
VALUED AT $80,000.00, FOR PROPERTY LOCATED AT 708
JEFFERSON STREET UNIT 4 AND LOCATED IN THE
CONSOLIDATED URBAN REVITALIZATION AREA (CURA).
WHEREAS, JSA Development, LLC, has submitted an application dated January 2,
2024, to the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions on
the improvements to a residential apartment unit valued at $80,000.00, for property located at
708 Jefferson Street Unit 4, and located in the Consolidated Urban Revitalization Area (CURA),
more fully described as follows:
UNITS 1, 3, AND 4, AND THE UNDIVIDED PERCENTAGE INTEREST OF
EACH IN THE COMMON ELEMENTS APPURTENANT THERETO IN "708 -
712 JEFFERSON STREET CONDOMINIUMS", DECLARATION RECORDED
IN DOC. #2011-01417 ON JULY 22, 2010 AS LAID OUT ON PART OF LOTS
3 AND 4 IN BLOCK 18 IN THE ORIGINAL PLAT, ON THE WEST SIDE OF
THE CEDAR RIVER, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
Subject to easements, restrictions, covenants, ordinances, and limited access provisions of
records, and
WHEREAS, said property is located within the designated Consolidated Urban
Revitalization Area (CURA) in Waterloo, Iowa, as previously established by the City Council of
the City of Waterloo, Iowa, and
WHEREAS, the construction improvements are in conformance with the Consolidated
Urban Revitalization Area (CURA) Plan as officially adopted by the City Council for 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 Consolidated Urban
Revitalization Area (CURA) 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 10-year partial exemption
schedule:
For the first year 80%
For the second year 70%
For the third year 60%
For the fourth year 50%
For the fifth year 40%
For the sixth year 40%
For the seventh year 30%
For the eighth year 30%
For the ninth year 20%
For the tenth year 20%
61.
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Resolution No. 2024-036
Page 2
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 5th day of February 2024.
ATTEST:
7(elley Felchle
Kelley Felchle, City Clerk
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I e_i ' SIGNED
Ray Feuss, Mayor Pro Tem