HomeMy WebLinkAbout2016-845-10/24/2016 Prepared by Nancy Higby, Administrative Secretary, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-845
RESOLUTION APPROVING THE REQUEST OF 3 STOOGES
LLC ON TAX EXEMPTIONS FOR THE CONSTRUCTION OF
IMPROVEMENTS ON A COMMERCIAL STRUCTURE VALUED
AT $150,000 FOR PROPERTY LOCATED AT 1050 SHEFFIELD
AVENUE AND LOCATED WITHIN THE CONSOLIDATED
URBAN REVITALIZATION AREA (CURA).
WHEREAS, 3 Stooges LLC 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 improvements on a commercial structure valued at $150,000 for property located at 1050
Sheffield Avenue, more fully described as follows:
RIVERVIEW ADDITION PART OF BLK 110 THAT PART SAID BLK LYING
SLY OF A LINE BEG AT PT ON W LINE SHEFFIELD AVE 1.4 FT N OF SE
COR LOT 80 TH NWLY TO PT ON E LINE BIRMINGHAM AVE THAT IS
2.4 FT N OF SW COR LOT 2 &LYING NLY OF A LINE DESC AS BEG AT A
PT ON W LINE SHEFFIELD AVE 1.4 FT N OF SE COR LOT 69 TH NWLY
TO A PT ON E LINE BIRMINGHAM AVE WHICH IS 2.4 FT N OF SW COR
LOT 13 ALSO THAT PT OF E 30 FT VAC BIRMINGHAM AVE LYING
BETWEEN THE TWO ABOVE DESC LINES EXT NWLY ALSO PART OF
BLK 110 & PART VAC BIRMINGHAM AVE ADJ SAID BLK BOUNDED AS
FOL: COM AT A PT ON NELY LINE SAID BLK WHICH IS 1.4 FT NWLY OF
THE MOST ELY COR LOT 69 TH WLY TO A PT ON SWLY LINE WHICH IS
2.4 FT NWLY OF MOST SLY COR LOT 13 & CONT ALONG SAID LINE AS
EXT TO A LINE 45 FT NELY OF CENTER LINE CRI & P RR CO TH SELY
ALONG SAID LINE TO EXT LINE LOT 15 TH NELY ALONG SAID EXT
LINE &MOST SLY LOT LINE LOTS 15 & 69 TO THE MOST ELY COR LOT
69 TH NWLY TO PT OF BEG & ALSO PART BLK 110 DESC AS FOL: BEG
AT MOST NLY COR LOT 63 IN BLK 110 TH S 26.99 FT TO A PT ON SELY
LINE LOT 63 WHICH PT IS 10 FT SWLY FROM MOST ELY COR SAID LOT
63 TH S 80 DEG 37 MIN 02 SEC W 225.66 FT ALONG A LINE WHICH IF
EXT WOULD PASS THROUGH MOST WLY COR LOT 20 TO A PT WHICH
IS 85 FT NORM DIST NELY FROM CENTERLINE INRC TH N 21 DEG 12
MIN 19 SEC W 102.07 FT ALONG A LINE WHICH IS 85 FT NELY FROM
CENTERLINE SAID RR TO NWLY LINE LOT 16 TH N 68 DEG 22 MIN 41
SEC E 230.85 FT ALONG NWLY LINE LOTS 16 & 68 TO NELY LINE SAID
BLK WHICH PT IS 375 FT SELY FROM NELY COR SAID BLK TH S 21
DEG 12 MIN 19 SEC E 125 FT ALONG NELY LINE SAID BLK TO PT OF
BEG & ALSO PART OF SWLY 20 FT VAC BIRMINGHAM AVE ADJ BLK
110 LYING SLY OF A LINE EXT WLY DESC AS BEG AT PT ON WLY LINE
SHEFFIELD AVE WHICH IS 1.40 FT NLY OF SELY COR LOT 80 TH SWLY
TO PT ON NELY LINE SAID VAC BIRMINGHAM AVE WHICH IS 2.40 FT
NLY FROM SWLY COR LOT 2 & LYING NLY OF SELY LINE LOT NOS 15
& 69 EXT SWLY & ALSO THAT PART VAC BIRMINGHAM AVE ADJ TO
BLK 110 & PART OF BLK 110 DESC AS FOL: BEG AT INTER SELY LINE
LOTS 15 & 69 EXT SWLY & THE SWLY LINE OF SAID VAC
BIRMINGHAM AVE TH N 68 DEG 22 MIN 41 SEC E 60 FT ALONG SAID
EXT SWLY LINE & SELY LINE SAID LOT 15 TO PT WHICH IS 85 FT NELY
FROM CENTERLINE INRC TH S 21 DEG 10 MIN 57 SEC E 102.16 FT (REC
AS S 21 DEG 12 MIN 19 SEC E 102.07 FT) ALONG LINE 85 FT NELY FROM
CENTERLINE MAIN TRACK TH S 80 DEG 36 MIN 45 SEC W 40.86 FT TO
Resolution No. 2016-845
Page 2
PT 45 FT NELY FROM CENTERLINE INRC TH N 35 DEG 35 MIN 56 SEC W
60.25 FT TO PT 30 FT NELY FROM CENTERLINE INRC TH S 68 DEG 49
MIN 03 SEC W 5.00 FT TO THE SWLY LINE OF VAC BIRMINGHAM AVE
TH N 21 DEG 10 MIN 57 SEC W 35 FT ALONG SAID SWLY LINE TO PT OF
BEG,
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 properly 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 f6r 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.
Quentin Hart, Mayor
ATTEST:
Kelley Fel le
City Clerk