HomeMy WebLinkAbout2016-941-12/5/2016 Prepared by Nancy Higby, Administrative Secretary, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, 319-291-4323.
RESOLUTION NO. 2016-941
RESOLUTION APPROVING THE REQUEST OF DS
RENTALS LLC FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW CONDO VALUED AT $150,000
FOR PROPERTY LOCATED AT 5741 SUMMERLAND DRIVE,
AND LOCATED IN THE CITY LIMITS URBAN
REVITALIZATION AREA (CLURA), AND RESCINDING
RESOLUTION NO. 2016-896.
WHEREAS, DS Rentals LLC has submitted an application dated October 21, 2016 to the
City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for the
construction of a new condo valued at $150,000 for property located at 5741 Summerland Drive,
more fully described as follows:
SUMMERLAND PARK FIRST, LOT 74, CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA.
Subject to easements, restrictions, covenants, ordinances and limited access
provisions of records;
and,
WHEREAS, said property is located within the designated City Limits Urban
Revitalization Area (CLURA) 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 City Limits Urban Revitalization Area (CLURA) 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 City Limits Urban
Revitalization Area(CLURA) 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 100%
For the second year 100%
For the third year 100%
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.
BE IT FURTHER RESOLVED that Resolution No. 2016-896 be hereby rescinded in its
entirety.
PASSED AND ADOPTED this 5t'day of December, 2016.
Quentin Hart,Mayor
Resolution No. 2016-941
Page 2
ATTEST:
Kelley Fele w
e
City Clerk