HomeMy WebLinkAbout2025-344-06.02.2025.docDocusign Envelope ID: F820E014-BAB8-4D39-8EF1-5AFD754AD52C
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-344
RESOLUTION SUPPORTING AN APPLICATION BY MARTIN
FLATS, LLC, FOR THE IOWA WORKFORCE HOUSING TAX
CREDIT PROGRAM, TO CONSTRUCT TWO UPPER -STORY
APARTMENTS, LOCATED AT 319 EAST 4TH STREET, AND
AUTHORIZING THE MAYOR TO EXECUTE THE
COMMUNITY INPUT FORM.
WHEREAS, Martin Flats, LLC, herein referred to as "the Applicant," has proposed the
construction of two (2) upper -story apartment units; and
WHEREAS, the proposed development is to be located at 319 East 4th Street, within the
jurisdiction of the City of Waterloo, Iowa; and
WHEREAS, the Iowa Workforce Housing Tax Credit Program, managed by the Iowa
Economic Development Authority, provides essential incentives for the development of
workforce housing projects to further community development and stimulate economic growth;
and
WHEREAS, the Applicant intends to apply for tax benefits under the Iowa Workforce
Housing Tax Credit Program to enhance the financial viability of the project; and
WHEREAS, the City Council determines that the proposed project aligns with the
strategic objectives and housing requirements of the City of Waterloo and that endorsing the
Applicant's application for the Iowa Workforce Housing Tax Credit Program serves the
community's best interest;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The City Council hereby supports the application by Martin Flats, LLC to the Iowa Economic
Development Authority for the Iowa Workforce Housing Tax Credit Program for the
construction of two (2) upper -story apartments to be located at 319 East 4th Street.
2. The Mayor is authorized and directed to execute said document on behalf of the City of
Waterloo, Iowa.
PASSED AND ADOPTED this 2nd day of June 2025.
ATTEST:
Signed by:
LeAnriivi. tven, Deputy City Clerk
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