HomeMy WebLinkAbout2013-755-9 /16/20139
Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-755
RESOLUTION APPROVING APPLICATION WITH N & S
PROPERTY, LLC FOR TAX EXEMPTIONS FOR THE
CONSTRUCTION OF A STRIP MALL VALUED AT
$771,000.00 LOCATED AT 401-409 FRANKLIN
STREET IN THE CONSOLIDATED URBAN
REVITALIZATION AREA (LURA), IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA.
WHEREAS, N & S Property, LLC has submitted an application
dated August 22, 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 $771,000.00 located at
401-409 Franklin Street, more fully described as follows:
Lots 2, 3, 6, 7 and 10; the Northwesterly 35 feet of
Lots 8 and 9; and the Northwesterly 35 feet of the
Southwesterly One-half of Lot 5, all in Block 62, The
Cooley Addition to Waterloo, Iowa;
and,
WHEREAS, said property is located within the designated
Consolidated Urban Revitalization Area (CURA) 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 Area
(CURA) 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
Area (CURA) 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 three-
year exemption schedule:
For the first year
For the second year
For the third year
1000
1000
1000
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. 2013-755
Page 2
PASSED AND ADOPTED this 16th day of September, 2013.
ATTEST:
uzy ch res, CMC
City Clerk
/� " �' - - /- f, �4- Z
Er est G. Clark, Mayor