HomeMy WebLinkAbout2010-0974-11/01/2010RESOLUTION NO. 2010-974
RESOLUTION APPROVING APPLICATION WITH JOHN
ROONEY FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $430,000.00 FOR PROPERTY LOCATED AT
1340 LOGAN AVENUE IN THE CONSOLIDATED URBAN
REVITALIZATION AREA, IN THE CITY OF WATERLOO,
BLACK HAWK COUNTY, IOWA.
WHEREAS, John Rooney has submitted an application dated
October 10, 2010 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on improvements
totaling $430,000.00 for property located at 1340 Logan Avenue,
more fully described as follows:
Lot Nos. 1, 2, 3 and 4 except that part for highway
purposes in 143 Misc. 525, Lots 19, 20, 21 and 22; all
that part of the alley lying between the above
described lots; all in Block No. 1 in "Gates Park
Place" in the City of Waterloo, Iowa.
Except for:
A parcel of land situated in part of Lots 1, 2, 3 and 4
in Block No. 1 of Gates Park Place, more particularly
described as follows:
Beginning at a point on the South line of said Lot 4,
said point is 1.50 feet east of the southwest corner of
said Lot 4 and also is on the present East right-of-way
line of Logan Avenue; thence N00031114"W (assumed
bearing for the purpose of this description) on the
present East right-of-way line of Logan Avenue which is
1.50 feet east of and parallel with the West line of
said Lots 4, 3, 2, and 1, a distance of 180.65 feet to
a point that is 1.50 feet east and 18.00 feet south of
the Northwest corner of said Lot 1; thence N50057'08"E,
28.79 feet on the present East right-of-way line of
Logan Avenue to a point on the North line of said Lot 1
(also being the present South right-of-way line of
WCF&N Drive) that is 24.00 feet east of the Northwest
corner of said Lot 1; thence N89039125"E on the North
line of said Lot 1 (also being the present South right-
of-way line of WCF&N Drive), 29.12 feet; thence
S50o3511311W, 27.03 feet; thence S090471 10'E, 57.31
feet; thence southeasterly on a 1551.50 foot radius
curve concave westerly and having a 125.72 -foot long
chord bearing S07027150"E, 125.76 feet (arc length) to
the South line of said Lot 4; thence 589019'24"W on the
South line of said Lot 4, a distance of 55.02 feet to
the Point of Beginning, all in the City of Waterloo,
Black Hawk County, Iowa;
and,
WHEREAS, said property is located within the designated
Consolidated 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 Consolidated Urban Revitalization Plan as
officially adopted by the City Council for the City of Waterloo,
Iowa, and
Resolution No. 2010-974
Page 2
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
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 ten-year
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%
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 by
March 1, 2011.
PASSED AND ADOPTED this 1St day of November, 2010.
Quentin Hart, Mayor Pro Tem
ATTEST:
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Suzy Schlares, CMC
City Clerk