HomeMy WebLinkAbout2013-338-05/06/2013Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-338
RESOLUTION APPROVING APPLICATION WITH D & L
DEVELOPMENT CO. FOR TAX EXEMPTIONS FOR THE
CONSTRUCTION OF A STRIP MALL VALUED AT
$600,000.00 LOCATED AT 2311-2315 LOGAN AVENUE
IN THE CONSOLIDATED URBAN REVITALIZATION
AREA, IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, D & L Development Co. has submitted an application
dated May 6, 2013 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions for the construction
of a strip mall valued at $600,000.00 located at 2311-2315 Logan
Avenue, more fully described as follows:
BV Addition Lot 3, 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 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 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
800
For
the
second year
700
For
the
third year
600
For
the
fourth year
50%
For
the
fifth year
400
For
the
sixth year
40%
For
the
seventh year
30%
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. 2013-338
Page 2
PASSED AND ADOPTED this 6th4ddaotfMay, 2013.
Clark, Mayor
ATTEST:
Suzy Scha es, CMC
City Clerl