HomeMy WebLinkAbout2013-976-11/25/2013Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-976
RESOLUTION APPROVING APPLICATION WITH A -LINE
EDS, INC. FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW TWO (2) STORY OFFICE
BUILDING AND A COMMERCIAL GRANULATOR BUILDING
VALUED AT $499,608.00 AND $755,000.00 FOR
PROPERTY LOCATED AT 808 DEARBORN AVENUE IN
THE CONSOLIDATED URBAN REVITALIZATION AREA
(LURA), IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
WHEREAS, A -Line EDS, Inc. has submitted an application dated
October 10, 2013 to the City Council of the City of Waterloo,
Iowa, requesting to receive tax exemptions on the construction of
a new two (2) story office building and a commercial granulator
building valued at $499,608.00 and $755,000.00 for property
located at 808 Dearborn Avenue, more fully described as follows:
The South 300 feet of the North 403.5 feet of the West
790 feet of the Northeast -_�4- of the Southeast 14 of
Section 30, Township 89 North, Range 12 West of the Stn
Principal Meridian, in the City of Waterloo, Black Hawk
County, Iowa, excepting the West 90 feet thereof;
And,
Parcel "C" of Plat of Survey 341 Misc 444, being part
of the Southeast :4 of the Northeast 1-4 and the Northeast
1,4 of the Southeast 1-4, all in Section 30, Township 89
North, Range 12 West of the 5th Principal Meridian, in
the City of Waterloo, Black Hawk County, Iowa;
And,
Parcel "E" of Plat of Survey 341 Misc 434, being part
of the Northeast :�-4 of the Southeast 1-4 of Section 30,
Township 89 North, Range 12 West of the 5th Principal
Meridian, in the City of Waterloo, Black Hawk County,
Iowa;
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area (LURA) 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 Area (CURA) 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 Area (LURA) 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
Resolution No. 2013-976
Page 2
WHEREAS, said applicant is requesting the following 10 -year
partial exemption schedule:
For
the
first
year
800
For
the
second
year
70%
For
the
third
year
600
For
the
fourth
year
50%
For
the
fifth
year
40%
For
the
sixth
year
40%
For
the
seventh
year
300
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.
PASSED AND ADOPTED this 25th day of November, 2013.
Er est G. Clark, Mayor
ATTEST:
4uzy2sch res, CMC
City Cl rk