HomeMy WebLinkAbout2026-348-07.06.2026.docDocusign Envelope ID: A79C989C-6D79-8E26-82EC-7AE09B70E88A
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-348
RESOLUTION APPROVING THE REQUEST BY BLACK
RIVER BELLS, FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW COMMERCIAL BUILDING
VALUED AT $2,400,000.00, FOR PROPERTY LOCATED AT
2065 LOGAN AVENUE, AND LOCATED IN THE
CONSOLIDATED URBAN REVITALIZATION AREA (CURA).
WHEREAS, Black River Bells has requested tax exemptions for the construction of a
new commercial building valued at $2,400,000.00 for property located at 2065 Logan Avenue,
and
WHEREAS, the property is located within the Consolidated Urban Revitalization Area
(CURA), making it eligible for such tax exemptions under the applicable statutes and ordinances,
and
WHEREAS, the new construction of this building meets the eligibility criteria as outlined
in the CURA plan, which aims to foster commercial development and investment in the urban
core, and
WHEREAS, granting this tax exemption is anticipated to enhance local commercial
buildings, stimulate economic growth, and promote community revitalization, and
WHEREAS, said applicant is requesting the following 10-year partial exemption
schedule:
For the first year 80%
For the second year 70%
For the third year 60%
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:
1. The City Council hereby approves the request by Black River Bells for tax
exemptions for the construction of a new commercial building located at 2065 Logan Avenue,
valued at $2,400,000.00, in accordance with the guidelines of the City Urban Revitalization Area
plan.
2. The property owner, Black River Bells, shall be eligible for specified tax exemptions
subject to compliance with the terms and duration set forth in the CURA guidelines.
PASSED AND ADOPTED this 6th day of July 2026.
ATTEST:
Signed by:
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David I3oesen, Mayor
Docusign Envelope ID: A79C989C-6D79-8E26-82EC-7AE09B70E88A
Resolution No. 2026-348
Page 2
Signed by:
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Kelley Felchle, City Clerk
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