HomeMy WebLinkAbout1986-057-02.03.1986 RESOLUTION NO. 1986-57
RESOLUTION APPROVINU APPLICATION OF RAMADA HOTEL FOR
PROPERTY TAX EXEMPTION FOR IMPROVEMENTS PERFORMED ON
THE PROPERTY AT 214 WASHINGTON STREET IN THE WEST
WASHINGTON URBAN REVITALIZATION DISTRICT.
WHEREAS, Ramada Hotel has submitted an application dated
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o January 30, 1986, to the City Council of the City of Waterloo,
ow Iowa, requesting to receive an exemption from taxation of the
eal
'-factual value added by improvements to the property located at 214
1 alF-".Washin ton Street more fullydescribed as follows:
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�-; Orig. Plat Waterloo West
R g All Blk. 27, Exc Street
o L. City of Waterloo, Black Hawk County, Iowa
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"- Co CV WHEREAS, said property is located within the designated
co ,--i %West Washington Urban Revitalization District in Waterloo, Iowa,
ti I. o E as previously established by the City Council of the City of
t.- F-, 6 s c-:Waterloo, Iowa,
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WHEREAS, the improvement project respecting said property is
n in conformance with the West Washington Urban Revitalization Plan
m H as officially adopted by the City Council of the City of Waterloo,
r,rz L Fr.-, Iowa,
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s 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 West Washington 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
exewpt ion schedule:
For the first year, eighty percent
For the second year, seventy percent
For the third year, sixty percent
For the fourth year, fifty percent
For the fifth year, forty percent
For the sixth year, forty percent
For the seventh year, thirty percent
For the eighth year, thirty percent
For the ninth year, twenty percent
For the tenth year, twenty percent
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that said application is hereby approved
and the Clerk/Auditor is hereby authorized and directed to forward
said application and a copy of this resolution to the Assessor by
February 1 , 1986.
Passed and adopted this 3rd day of February, 1986.
R
J Seeber, Mayor Pro Tern
ATTEST:
U
Michell Tolley /
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