HomeMy WebLinkAbout2025-010-01.06.2025Prepared Nancy Higby, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA
50703, (319) 291-4323.
RESOLUTION NO. 2025-010
A RESOLUTION APPROVING THE REQUEST BY BABIC
PROPERTIES LLC., FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW SINGLE-FAMILY UNIT
VALUED AT $400,500.00, FOR PROPERTY LOCATED AT 110
KESTREL CIRCLE AND LOCATED IN THE CITY LIMITS
URBAN REVITALIZATION AREA (CLURA).
WHEREAS, Babic Properties LLC. has submitted a request to receive tax exemptions
under the provisions of the City's City Limits Urban Revitalization Area (CLURA) program
dated December 16, 2024, for property located at 110 Kestrel Circle, and more fully described as
follows:
AUDUBON HILLS FIRST ADDITION LOT 14 IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
and;
WHEREAS, the proposed construction is for a new single-family home valued
at $400,500.00, which qualifies for tax exemption under the CLURA guidelines as officially
adopted by the City Council for the City of Waterloo, Iowa; and
WHEREAS, the new construction on said property was made during the time in which
such improvements are eligible for the tax exemption as set forth in the CLURA 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, the City Council has determined that the improvement noted above is
consistent with the goals and objectives of the CLURA Plan, effectively contributing to the
urban revitalization of the area; and
WHEREAS, said applicant is requesting the following three-year exemption schedule:
For the first year 100%
For the second year 100%
For the third year 100%
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The request by Babic Properties LLC., for tax exemptions on the construction of a new
single-family home valued at $400,500.00 for the property located at 110 Kestrel Circle is
hereby approved.
2. The tax exemption shall be applied in accordance with the conditions set forth in the
CLURA program guidelines.
3. The City Clerk is hereby authorized and directed to forward said application and a
copy of this resolution to the Black Hawk County Assessor.
4. This resolution shall take effect upon its passage and approval.
Resolution 2025-010
Page 2
PASSED AND ADOPTED this 6th day of January 2025.
ATTEST:
KeCCey Fe(cfCe
Kelley Felchle City Clerk
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Quentin Hart, Mayor