HomeMy WebLinkAbout2012-855-8 /27/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-855
RESOLUTION APPROVING APPLICATION WITH FLOYD
MCELHANEY FOR TAX EXEMPTIONS ON IMPROVEMENTS
TOTALING $70,000.00 FOR PROPERTY LOCATED AT
423 BISHOP AVENUE IN THE CONSOLIDATED URBAN
REVITALIZATION AREA, IN THE CITY OF WATERLOO,
BLACK HAWK COUNTY, IOWA.
WHEREAS, Floyd McElhaney has submitted an application dated
July 18, 2012 to the City Council of the City of Waterloo, Iowa,
requesting to receive tax exemptions on improvements totaling
$70,000.00 for property located at 423 Bishop Avenue, more fully
described as follows:
The East One-half of Lot 52 in Auditor Barnes' Plat of
Maywood in Black Hawk County, Iowa (now in the City of
Waterloo, Iowa);
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area 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 Consolidated Urban Revitalization Plan as
officially adopted by the City Council for 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 Consolidated 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 10 -year
partial exemption schedule:
For
the
first year
800
For
the
second year
70%
For
the
third year
600
For
the
fourth year
500
For
the
fifth year
400
For
the
sixth year
400
For
the
seventh year
300
For
the
eighth year
300
For
the
ninth year
20%
For
the
tenth year
20%
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that said application is hereby approved
and the City Clerk is hereby authorized and directed to forward
said application and a copy of this resolution to the Assessor.
Resolution No. 2012-855
Page 2
PASSED AND ADOPTED this 27th day of August, 2012.
4rLnest G. Clark, M y r
ATTEST:
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