HomeMy WebLinkAbout2024-311-05.20.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-311
RESOLUTION IN SUPPORT OF AN APPLICATION BY THE
MARTIN FLATS, LLC, FOR THE IOWA WORKFORCE
HOUSING TAX CREDIT PROGRAM APPLICATION TO THE
IOWA ECONOMIC DEVELOPMENT AUTHORITY, TO
CONSTRUCT TWO NEW MARKET RATE APARTMENTS ON
THE UPPER LEVEL, LOCATED AT 319 E. 4TH STREET,
INCLUDING A GRANT OF $199,000.00 FOR THE OVERALL
REDEVELOPMENT PROJECT AND FIFTEEN YEARS OF
REBATES AT 70 PERCENT AS APPROVED BY CITY
COUNCIL BY RESOLUTION NO. 2023-744 ON NOVEMBER
20, 2023.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA, that the City of Waterloo supports the application by Martin Flats, LLC, for the Iowa
Workforce Housing Tax Credit Program application to the Iowa Economic Development
Authority, to construct two new market rate apartments on the upper level, located at 319 E. 4th
Street, including a grant of $199,000.00 for the overall redevelopment project and fifteen years
of rebates at 70 percent as approved by city council by resolution No. 2023-744 on November
20, 2023.
PASSED AND ADOPTED this 20th day of May 2024.
Ray Feuss, Mayor Pro Tem
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
SEAL