HomeMy WebLinkAbout2012-1171-12/17/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-1171
RESOLUTION APPROVING APPLICATION WITH DAVE
LEDERMAN FOR TAX EXEMPTIONS FOR THE
CONSTRUCTION OF A STRIP MALL TOTALING
$560,000.00 FOR PROPERTY LOCATED AT 703
PROGRESS AVENUE IN THE CONSOLIDATED URBAN
REVITALIZATION AREA PLAN, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, Dave Lederman has submitted an application dated
December 26, 2011 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions for the construction
of a strip mall totaling $560,000.00 for property located at 703
Progress Avenue, more fully described as follows:
Lot No. W-13, except that part condemned for highway
improvement as shown in 488 Deeds 25, and all of Lots
Nos. W-14 and W-15, all in "Cedarloo Park" in the City
of Waterloo, Black Hawk County, 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
700
For
the
third year
600
For
the
fourth year
50%
For
the
fifth year
40%
For
the
sixth year
40%
For
the
seventh year
30%
For
the
eighth year
30%
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. 2012-1171
Page 2
PASSED AND ADOPTED this 17th day of December, 201 ,
Ernest G. Clark, Mayor
ATTEST:
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