HomeMy WebLinkAbout2012-985-10/08/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-985
RESOLUTION APPROVING APPLICATION WITH DOROTHY
AND ROBERT HILL FOR TAX EXEMPTIONS ON NEW
CONSTRUCTION TOTALING $215,000.00 FOR
PROPERTY LOCATED AT 423 LANE STREET IN THE
CONSOLIDATED URBAN REVITALIZATION AREA PLAN,
IN THE CITY OF WATERLOO, BLACK HAWK COUNTY,
IOWA.
WHEREAS, Dorothy and Robert Hill have submitted an
application dated July 19, 2012 to the City Council of the City
of Waterloo, Iowa, requesting to receive tax exemptions on new
construction totaling $215,000.00 for property located at 423
Lane Street, more fully described as follows:
Balliett and Gilberts Subdivision Waterloo, all of Lot
16, excluding the West 10 feet, 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 new construction 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 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 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
80%
For
the
second year
700
For
the
third year
600
For
the
fourth year
500
For
the
fifth year
40%
For
the
sixth year
40%
For
the
seventh year
30%
For
the
eighth year
300
For
the
ninth year
20%
For
the
tenth year
200
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. 2012-985
Page 2
PASSED AND ADOPTED this 8th day of October, 2012.
4a V, '- &/
Ernest G. Clark, Mayor
ATTEST:
Lcz /-C-�
uzy Schas, CMC
City Clerk