HomeMy WebLinkAbout2016-972-12/19/2016 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-972
RESOLUTION APPROVING THE REQUEST OF MTRE-
WATERLOO IA, LLC FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A BUILDING ADDITION AND OFFICE
REMODEL VALUED AT $1,450,000 FOR THE PROPERTY
LOCATED AT 2086 HOWARD AVENUE AND LOCATED
WITHIN THE CONSOLIDATED URBAN REVITALIZATION
AREA (CURA).
WHEREAS, MTRE-Waterloo, has submitted an application dated December 1, 2016, to
the City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions for
construction of a building addition and office remodel valued at $1,450,000 for the property
located at 2086 Howard Avenue and located within the Consolidated Urban Revitalization Area
(LURA), more fully described as follows:
A PARCEL LOCATED IN PART OF LOT 23 AND IN THE NORTH 135 FEET
OF THE WEST 60 FEET OF LOT 24 "GARDEN PLACE", IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF THE NORTH 135 FEET
OF THE WEST 60 FEET OF SAID LOT 24; THENCE SOUTH 00°08 %2'
WEST, 134.7 FEET, ALONG THE EAST LINE OF THE NORTH 135 FEET OF
THE WEST 60 FEET OF SAID LOT 24; THENCE NORTH 4093 '/2 WEST,
110.0 FEET; THENCE NORTH 5494 %z EAST, 87.6 FEET, TO THE POINT
OF BEGINNING.
AND,
LOT 24, "GARDEN PLACE" IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA, EXCEPT THE NORTH 135 FEET OF THE WEST 60 FEET
THEREOF AND FURTHER EXCEPT THAT PART CONVEYED TO THE
STATE OF IOWA IN 562 CLD 760.
and,
LOT 25, "GARDEN PLACE" IN THE CITY OF WATERLOO, BLACK HAWK
COUNTY, IOWA, EXCEPT THE EAST 67.5 FEET THEREOF AND EXCEPT
THAT PART CONVEYED TO THE STATE OF IOWA IN 562 CLD 760.
and,
That partition of Garden Place Addition, in the City of Waterloo, Black Hawk County, Iowa,
more particularly described as follows:
BEGINNING AT THE NORTHEAST CORNER OF LOT 25 IN SAID GARDEN
PLACE ADDITIONS; THENCE NORTH 89°40'03" EAST ON THE SOUTH
RIGHT OF WAY LINE OF HOWARD AVENUE, 31.00 FEET TO THE
WESTERLY RIGHT OF WAY LINE OF TEXAS STREET; THENCE SOUTH
20053'07" EAST ON SAID WESTERLY RIGHT OF WAY LINE, 286.87 FEET
TO THE NORTH LINE OF THE LAND DESCRIBED IN LD BOOK 562 AT
PAGE 793 IN THE OFFICE OF THE BLACK HAWK COUNTY, IOWA
Resolution No. 2016-972
Page 2
RECORDED; THENCE SOUTH 89°40'39" WEST ON SAID NORTH LINE,
199.11 FEET TO THE WEST LINE OF THE EAST 67.5 FEET OF SAID LOT
25; THENCE NORTH 0°21'52" WEST ON SAID WEST LINE, 268.58 FEET
TO SAID SOUTH RIGHT OF WAY LINE; THENCE NORTH 89'40'03" EAST
ON SAID SOUTH RIGHT OF WAY LINE, 67.55 FEET TO THE POINT OF
BEGINNING.
and,
WHEREAS said property Yis 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 19th day of December, 2016.
0��J �
Quentin Hart, Mayor
ATTEST:
Kelley Felc e
City Clerk
;— 1.
For Office Use On(y
Dare Received:.,___...._.._......._.__...
Received by: ...............-...........
a St.•di'rn make a cnp� lift applicant
CONSOLIDATED URBAN REVI'TALIZXHON AREA
APPLICATION FOR PR01'13R'I'Y TAX EXI.iMP'TION FOR IMPROVGMLiNTS UNI.)I-R'1'1•il.?PROVISiONS FTHE
D
CONSOLIDA11 URBAN RL:VITAL.IZATION AREA PLAN ADOPTED BYTHEI C'I'TY COUNCiL OP•1'I 11:CITY OF
The Consolidated Urban Revitalization Area(LURA)allows propcily tax exemptions on improvements to properly located within
its boundaries that nice(the following criteria:
I. At least a 10%improvement to the value ol'the residential property. At least a 15%improvement to the value ot'commercial
property if a building(was previously on the site. lt'commercial properly was previously vacant,all actual value added by the
improvements is eligible for tax exemption.
2. Be.located\within the CORA bourtdarics(a map orwhich can be obtained from the City of Waterloo Community Planning K
Developincrrt Department)
3. This application must be filed with City Prior to the 1".working-day of Pebruary ibllo\wing the year when lite improventcnts
are completed to comply with the timeline of the State Code of Iowa,Section 404.4 unnumbered paragraph 2. 1 lowever,a
single application may be filed u1ton completion of alt entire project requiring more than one Year to construct or complete,
City Council or County Board of Su er visors.
has been Fantod la'the(.Ft C:oun c �
providing error approval � } ) R
Please 1,111 out the following information lbr•your application to be submitted to the City Council.
NAM Li: - a _ � SI.GNATP It E:
•TlsLI:PI10NI-..: �� � ._ DATE:
A. What is the,,fddFess ol'the property being improved? MAMMA--.--- I-°. ...��
What is the Legal Description ol'the property?(May be available at County Recorder's 011,1ec oil 2"a floor ol'the Courthouse)'?
-----•—'___ Se ig,—
B. Indicate desired exemption schedule:(I on;2
I. _One Hundred Percent(100%)exemption fior three years on the actual value added by improvements;
2. A partial exemption on the actual value added by improvements according to the Billowing schedule:
a.
First Year----------80% d. Fourth Ycai-------50% g. Seventh Year-----30%
b. Second Year-----70% c. Fiflb Year----------,l0% h. F'ighdl Year--.•-----30"/,
c. 'Third Ycar---------60% f. Sixth Ycar----------40% i. Ninth Year---------20'%,
j. Tenth Yew-----------
What was the nature of the improventent(s)7
1.). City of VeFaterluo Building and inspections Department information:
Permit Number: Date permit was issued: r � Intal permits valuation:
1.;. Whitt was the cost of the intproventent?._ _1.. -.. � Q___ t
F. lstinrtted or actual dale ol'campletinn of these improvements'? — Q. ! �4. --_....
._: , \\ I (heti^iFtYtrovements create a displacement of
G. !f this is not a singe. tamily chvcllin�,unit,which you eN'n Flnel r'C1'iC1G In. 11 ,c, 1 )
Your tenantti?..__..... ..._...-- Yes _.._... '�j/ No
....._:fit---------.
Note: The improvements to your home or business May not change(lie assessed value.
Note: City Council approval does not guarantee tax exemptions. The application must be reviewed and approved by the Black
I lawk Conrily Assessor's Ofliae for criteria eligibility.
rC'I"l'Y ON W/yI L 14,00 OFFICEUSE ONLY
nPPRc)vra) uA"rcL):! I2RSOLUTION NO:. l `�
3)IiN(fit)
BLACK IJAWK COUNTYASSESSOR Ol-I-'ICt.• IJSI �ONI,Y
APPROVED DNITID: ..--
T,J.Kocnibsl'eld
I)IiNIED Black Llawk CountyAsswssor