HomeMy WebLinkAbout1986-015-01.13.1986 RESOLUTION NO. 1986-15
' RESOLUTION APPROVING THE APPLICATION OF OMEGA CABINETS,
FOR PROPERTY TAX NETS, LTD.
EXEZIPTION FOR IMPROVF,MENTS PERFORMED ON
INDUSTRIAL PROPERTIES LOCATED AT 1205 PETERS DRIVE WITHIN
THE CITY OF WATERLOO, IOWA.
` ' WHEREAS, Omega Cabinets Ltd. has submitted an tp licati
ti January 6, 1986, to the City Council of the Cityon dated
erloo Iowa
P requesting to receive exemptions from taxation onotheaactual,value,
glY added by improvements to industrial properties located at 1205 Peters
-° Drive as follows:
o
•
f1
Lot 11, 12, Airline-Burton Industrial Park, City of
0, h ' H Waterloo, Black Hawk County, Iowa.
co O
s ; WHEREAS, said properties are located within the Corporate Limits of
t the City of Waterloo, Iowa; and,
c
UWHEREAS, the improvement project respecting said properties are in
conformance with the Industrial Property Tax Abatement Ordinance as
officially adopted by the City Council of the City of Waterloo, Iowa;
and,
EWHEREAS, the improvements on said
cvproperties were made during the
c time in which such improvements are eligible for the tax exemption as
set forth in the Industrial Tax Abatement Ordinance as adopted by the
City Council of the City of Waterloo, Iowa, and as set forth in the
Code of Ordinances, City of Waterloo, Iowa, 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 - Seventy-Five Percent (75%)
For the Second Year - Sixty Percent (60%)
For the Third Year - Forty-Five Percent (45%)
For the Fourth Year - Thirty Percent (30%)
For the Fifth Year - Fifteen Percent (15%)
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, IOWA that said application is hereby approved and said
application and a copy of this resolution to the Assessor by
February 1 , 1986.
Passed and adopted this 13th day of January, 1986.
if'
Bernard L. McK' ey, Mayor j
ATTEST:
P. urger, Ci clerk/Auditor
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