HomeMy WebLinkAbout2017-58-2/6/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2017-58
RESOLUTION APPROVING THE REQUEST OF WENDELL
SPELLER, FOR SPELLER'S TRUE VALUE, FOR TAX
EXEMPTIONS ON THE RENOVATION OF A COMMERCIAL
BUILDING VALUED AT $45,000, FOR THE PROPERTY
LOCATED AT 1015-1027 E 4TH STREET, AND LOCATED
WITHIN THE CONSOLIDATED URBAN REVITALIZATION
AREA (CURA).
WHEREAS, Wendell Speller, for Speller's True Value, has submitted an application
dated January 6, 2017 to the City Council of the City of Waterloo, Iowa, requesting to receive tax
exemptions for renovation of a commercial building valued at $45,000.00 for the property
located at 1015-1027 E. 4t` Street and within the Consolidated Urban Revitalization Area
(CURA), more fully described as follows:
RAILROAD ADDITION WATERLOO LOT 17 BLK 28 LOT 18 BLK 28, 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 renovation 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 renovations on said property were 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 6th day of February 2017.
Resolution No. 2017-58
Page 2
Quentin Hart, Mayor
ATTEST:
W&O�
KelleyFe hle
City Cler
CONSOLIDATED URBAN REVITALIZATION APPLICATION
FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS UNDER THE
PROVISIONS OF THE CONSOLIDATED URBAN REVITALIZATION PLANS v�
• ADOPTED BY THE CITY COUNCIL OF THE CITY OF WATERLOO.
The Consolidated Urban Revitalization Area(CURA)allows property tax exemptions on improvements to property located
within its boundaries that meet the following criteria:
1. At least a 10%improvement to the value of the residential property. At least a 15%improvement to the value of
commercial property if a building was previously on the site. It commercial property was previously vacant,all actual
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 your assessor according to the timeline of the State Code of Iowa, Section 404.4
unnumbered paragraph 2(as attached.) 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: SIGNATURE: �l/
ADDRESS JO 5 JD,�4,7 j%, 1- 6 - 17. C�
TELEPHONE: 3d �3 --
� J,7 .31 o'L YA1 �6f Y77 r])ATE:
A. What is the Address of the property being improved? /(,),-)-7 e, y A Sr Zyo Lv)SQt,"
What is the gal Descri tion of the property?(Available at County Assessor's Office on 2"d floor of the Courthouse)?
O
s' t e neo L-4- L ,- �1,
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. _>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)?
GuS �r�►,,�1' � � �t�z� �n1'rri .���er,� r�, Wr��sc�•, �tf;nTq) (�YG �1���r�i7y�ca�"
D. City of Waterloo Building and Inspections Department Information:
Permit Number: r L. Date permit was issued: /0/-Z Total permit(s)valuation:
E. What was the cost of the improvement?Y .3 0, 06,0 -t- /S ESC'C,
F. Estimated or actual date of completion of these improvements? 7 - /s - 17
G. If this is not a singe-family dwelling unit,which you own and reside in,will these improvements create a displacement of
you tenants? Yes y—No
CIT OF WATERLOO
APPROVED DATED: RESOLUTION NO: 1
DENIED
BLACK HAWK COUNTY ASSESSOR
APPROVED DATED:
Tami McFarland
DENIED 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.