HomeMy WebLinkAbout2025-541-10.06.2025.docDocusign Envelope ID: 7EC7OBA3-A5C5-422A-9E93-8A3E31680A25
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-541
A RESOLUTION APPROVING THE REQUEST BY NATESH
YEPURI, FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF A NEW SINGLE-FAMILY HOUSE VALUED AT
$549,900.00, FOR PROPERTY LOCATED AT 1825 RED TAIL
DRIVE AND LOCATED IN THE CITY LIMITS URBAN
REVITALIZATION AREA (CLURA).
WHEREAS, Natesh Yepuri, property developer, has submitted a request for tax
exemptions under the City Limits Urban Revitalization Area (CLURA) program for a newly
constructed single-family home valued at $549,900.00; and
WHEREAS, the property is located at 1825 Red Tail Drive within the designated City
Limits Urban Revitalization Area, as established by City of Waterloo ordinances to foster
development and improve designated urban areas; and
WHEREAS, the construction of this single-family home meets the eligibility criteria
outlined in the CLURA plan, which is designed to promote residential development and attract
investment within the city's urban boundaries; and
WHEREAS, granting this tax exemption is anticipated to enhance the local housing
market, stimulate economic growth, and contribute to community revitalization; and
WHEREAS, said applicant is requesting 100% exemption for three years on the actual
value added by improvements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The City Council hereby approves the request for tax exemptions for the construction
of a new single-family home located at 1825 Red Tail Drive, valued at $549,900.00, in
accordance with the guidelines of the City Limits Urban Revitalization Area plan.
2. The property owner, Natesh Yepuri, shall be eligible for specified tax exemptions
subject to compliance with the terms and duration specified in the CLURA guidelines.
PASSED AND ADOPTED this 6th day of October 2025. ,-Docusigned by:
aLtAlitA, A -art
-D05�5D C8 49..
Quentin 'I fart,4Mayor
ATTEST:
Signed by:
KAM" Fitdet
ke1t y terchBf 4 ,ity Clerk
SEAL
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