HomeMy WebLinkAbout2016-847-10/24/2016 Prepared by Nancy Higby, Administrative Secretary, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-847
RESOLUTION APPROVING THE REQUEST OF CRF
RENTALS FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF HOME IMPROVEMENTS VALUED AT $7,000 FOR
PROPERTY LOCATED AT 436 BOSTON AVENUE AND
LOCATED WITHIN THE CONSOLIDATED URBAN
REVITALIZATION AREA(LURA).
WHEREAS, CRF Rentals has submitted an application dated October 3, 2016 to the City
Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for construction of
home improvements valued at $7,000 for property located at 436 Boston Avenue, more fully
described as follows:
LOGAN DALE HEIGHTS LOT 16 BLK 9, IN THE CITY OF WATERLOO,
BLACK HAWK COUNTY, 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 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 (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 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 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 24th day of October, 2016.
Resolution No. 2016-847
Page 2
Quentin Hart, Mayor
ATTEST:
elley Fe chle
City Clerk