HomeMy WebLinkAbout1986-662-11.24.1986 RESOLUTION NO. 1986-662
RESOLUTION APPROVING APPLICATION OF MEYER'S SHEET
METAL WORKS FOR PROPERTY TAX EXEMPTION FOR
IMPROVEMENTS PERFORMED ON THE PROPERTY AT
113 EAST EIGHTH STREET IN THE FRANKLIN URBAN
REVITALIZATION DISTRICT.
WHEREAS, Meyer's Sheet Metal Works has submitted an application
dated November 24, 1986, to the City Council of the City of Waterloo,
Iowa, requesting to receive an exemption from taxation of the actual
value added by improvements to the property located at 113 East Eighth
Street more fully described as follows:
Orig. Plat Waterloo East
Lots 5, 8, 9, Block 22
City of Waterloo,
Black Hawk County, Iowa
and
WHEREAS, said property is located within the designated Franklin
Urban Revitalization District 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 Franklin Urban Revitalization Plan as officially
adopted by the City Council of the City of Waterloo, Iowa,
and
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 Franklin 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 exemption
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
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RESOLUTION NO. 1986-662
PAGE TWO
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WATERLOO, IOWA, that said application is hereby approved and the
clrk/Auditor is hereby authorized and directed to forward said
application and a copy of this resolution to the Assessor by
€ebruary_1, 1987.
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c Q N N r'aAsed and adopted this 24th day of November, 1986.
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