HomeMy WebLinkAbout2016-897-11/14/2016Prepared by Nancy Higby, Administrative Secretary, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-897
RESOLUTION APPROVING THE REQUEST OF BRUCE VAUGHN
SR. FOR TAX EXEMPTIONS ON THE CONSTRUCTION OF
HOME IMPROVEMENTS VALUED AT $31,000 FOR THE
PROPERTY LOCATED AT 615 COTTAGE STREET AND
LOCATED WITHIN THE CONSOLIDATED URBAN
REVITALIZATION AREA (CURA).
WHEREAS, Bruce Vaughn Sr. has submitted an application dated October 17, 2016 to
the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for
construction of home improvements valued at $31,000 for the property located at 615 Cottage
Street, more fully described as follows:
Rose Hill Addition E 50 FT Lot 5 BLK 8
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 14th day of November, 2016.
Resolution No. 2016-897
Page 2
uentin Hart, Mayor
ATTEST:
Kelley Fel
City Clerk
CONSOLIDATED URBAN REVITALIZATION APPLICATION
FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS UNDER THE
PROVISIONS OF
URBAN
ADOPTED BYTHE CITY COUNCIL CONSOLIDATEDCOUNCIL OFTHE CITY OF WATERLOO.
AREA PEW 1 7 26 /0
The Consolidated Urban Revitalization Area (CURA) allows property tax exemptions on improvements to pr erty located 1 V
within its boundaries that meet the following criteria: 1*'*,. I
1. At least a 10% improvement to the value of the residential property. At least a 15% improvement to the valife �►
commercial property if a building was previously on the site. If commercial property was previously vacant, allida� 10 '
value added by the improvements is eligible for tax exemption.
2. Be located within the CURA boundaries (a map of which can be obtained from the City of Waterloo Community Planning
& Development Department.)
3. This application must be filed with City prior to the 18 working day of February following the year when the
improvements are completed to comply with the timeline of the State Code of Iowa, Section 404.4 unnumbered paragraph
2. However, a single application may be filed upon completion of an entire project requiring more than one year to
construct or complete, providing prior approval has bee granted by the City Council or County Board of Supervisors.
Please fill out the following information for your application to be submitted to the City Council.
NAME: 6 rota' VQ
ADDRESS: Ce L5 (3
TELEPHONE: -51.q 1.3S
SIGNATURE:
V \�--
DATE: 1 l)—
A. What is the Address of the property being improved? l Cp 14-buse Sfr
What is the Legal Description of the property? (May be available at C
ounty Recorder's Office on 2"d floor of the
Courthouse)? 1.a5�i l l �
• 1 l • tC l� c0
B. Indicate desired exemption schedule: (1 or 2)
1. One Hundred Percent (100%) exemption for three years on the actual value added by improvements;
2. , i'A partial exemption on the actual value added by improvements according to the following schedule:
a. First Year 80% d. Fourth Year 50% g. Seventh Year 30%
b. Second Year 70% e. Fifth Year 40% h. Eighth Year 30%
c. Third Year 60% f. Sixth Year 40% i. Ninth Year 20%
j. Tenth Year 20%
C. What was the nature of the improvement(s)?
kl,ti3 s rr.rvod. ba +hrcaw S ilea) cko rAnt ivy 1/I.a) 1.00-1
D. City of Waterloo Building and Inspections Department Information:
Permit Number: 1 2-40 Date permit wasissued: 7-2 D Li Total permit(s) valuation:
E. What was the cost of the improvement? A. 3 11,012D
F. Estimated or actual date of completion of these improvements?
13-
G.
3.'
G. If this is not a singe -family dwelling unit, which yoy►•own and reside in, will these improvements create a displacement of
your tenants? Yes (/" No
CITY OF WATERLOO
APPROVED
DENIED
DATED:
RESOLUTION NO:
BLACK HAWK COUNTY ASSESSOR
APPROVED
DENIED
DATED:
Tami McFarland
Black Hawk County Assessor
Note: The improvements to your home or business may not change the assessed value.
Note: City Council approval does not guarantee tax exemptions. The application must be reviewed and approved by the
Black Hawk County Assessor's Office for criteria eligibility.
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