HomeMy WebLinkAbout1987-456-08.24.1987 O O H ; RESOLUTION NO. 1987-456
RESOLUTION APPROVING APPLICATION OF WATERLOO TENT &
0 O 0 AWNING CO. FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS
• PERFORMED ON THE PROPERTY AT 1005 COMMERCIAL STREET IN
trq THE WASHINGTON URBAN REVITALIZATION DISTRICT.
o � o
WHEREAS, Waterloo Tent & Awning Co. has submitted an
application dated August 24 , 1987 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 1005 Commercial Street more fully described as follows:
FRL Blocks Waterloo West all Lot 60, Block 12 , City of
Waterloo, Black Hawk County, Iowa.
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WHEREAS, said property is located within the designated
Washington 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 Washington Urban Revitalization Plan as
officially adopted by the City Council of the City of Waterloo,
Iowa, and
WHEREAS, said improvements on said property were made during
the time in which such improvements are eligible for the tax
exemption as set forth in the 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 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, 'Ewenty 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 , 1988 .
PASSED AND ADOPTED this 24th day of August, 1987 .
7 A
ernar L. cKin e , Ma r
ATTEST:
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a ry P. Burger, ity Clerk/Auditor
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