HomeMy WebLinkAbout2024-329-06.03.2024 J&R Real Estate appPrepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-329
RESOLUTION IN SUPPORT OF AN APPLICATION BY J & R
REAL ESTATE HOLDINGS, LLC, FOR THE IOWA
WORKFORCE HOUSING TAX CREDIT PROGRAM
APPLICATION TO THE IOWA ECONOMIC DEVELOPMENT
AUTHORITY, TO CONSTRUCT NINETEEN NEW
RESIDENTIAL UNITS, LOCATED AT 1729 MULBERRY
STREET, INCLUDING A POTENTIAL FOR TAX
ABATEMENT OF AT LEAST $1,000.00 PER UNIT THROUGH
THE CONSOLIDATED URBAN REVITALIZATION AREA
TAX ABATEMENT PROGRAM UPON SUBSTANTIAL
COMPLETION AND PROJECT SHALL ALSO RECEIVE
$95,000.00, OR $5,000.00 PER HOUSING UNIT CREATED
PER THE INFILL HOUSING PROGRAM, UPON RECEIPT OF
CERTIFICATE OF OCCUPANCY.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA, that the City of Waterloo supports the application by J & R Real Estate Holdings, LLC,
for the Iowa Workforce Housing Tax Credit Program Application to the Iowa Economic
Development Authority, to construct nineteen new residential units, located at 1729 Mulberry
Street, including a potential for tax abatement of at least $1,000.00 per unit through the
Consolidated Urban Revitalization Area tax abatement program upon substantial completion and
project shall also receive $95,000.00, or $5,000.00 per housing unit created per the Infill
Housing Program, upon receipt of certificate of occupancy.
PASSED AND ADOPTED this 3rd day of June 2024.
DIGITALLY
SIGNED
Quentin Hart, Mayor
ATTEST:
�eOEey FeCChfe
Kelley Felchle City Clerk
SEAL
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