HomeMy WebLinkAbout2017-24-1/17/2017 i
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2017-24
RESOLUTION APPROVING THE REQUEST OF KATY
HACKETT FOR TAX EXEMPTIONS ON THE CONSTRUCTION
OF HOME IMPROVEMENTS, VALUED AT $60,000, FOR THE
PROPERTY LOCATED AT 515 RIVERSIDE DRIVE, AND
LOCATED WITHIN THE CONSOLIDATED URBAN
REVITALIZATION AREA(CURA).
WHEREAS, Katy Hackett has submitted an application, dated January 4, 2017, to the
City Council of the City of Waterloo, Iowa, requesting to receive tax exemptions, for
construction of a home improvements valued at $60,000, for the property located at 515
Riverside Drive, and located within the Consolidated Urban Revitalization Area (CURA), more
fully described as follows:
CEDAR RIVER PARK LOT 1 BLK 4 N 1/2 LOT 2 BLK 4 AND STRIP OF
EQUAL WIDTH EXTENDING TO RIVER AND SELY 1/2 OF VAC
NORWOOD AVE LYING BETWEEN CEDAR RIVER AND WLY ROW OF
RIVERSIDE DR AND NLY 1/20F VAC NORWOOD AVE LYING BETWEEN
THE CEDAR RIVER AND WLY R-O-W OF RIVERSIDE DR IN SEC 15 T 89
R 13, IN THE CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA,
and,
WHEREAS, said property is located within the designated Consolidated Urban
Revitalization Area (LURA) 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 three-year 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 17th day of January, 2017.
Resolution No. 2017-24
Page 2
Quentin Hart, Mayor
ATTEST:
Kelley Fel le
City Clerk
CONSOLIDATED URBAN REVITALIZATION APPLICATION
FOR PROPERTY TAX EXEMPTION FOR IMPROVEMENTS UNDER THE
PROVISIONS OF THE CONSOLIDNTED URBAN REVITALIZATION AREA PLAN
ADOPTED BY THE CITY COUNCIL OF THE CITY OF WATERLOO.
The Consolidated Urban Revitalization Area(CUBA)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 I S%improvement to the value of
commercial property if a building was previously on the site. If conunercial property was previously vacant,all actual
value added by the improvements is eligible for tax exemption.
2. Be located within the CUBA 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 In 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: SIGNATURE: ,
ADDRESS: �� ff ff
TELEPHONE: . E —OIL-)- ' I DATE: 'I 1
�7
A. What is the it ddress of the property being improved?
What is the Legal Description of the prop ?(May be available at County Recorder's Office on 2nd floor of tlue
Courthouse)?
e� �G
B. Indicate desired exemption schedule:(I 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---------GO% E Sixth Year---------40% i. Ninth Year---------20%
j. Tenth Year---------20%
C. What wast e(rlature of the improvement(s) Q � '-�Y l � ��4
D. City of Waterloo Building and Inspections Department Informatio
Permit Nmrubeu;; E -lJ �� Date permwas issued; ) C Total perrnit(s)valuation)
E. What was the cost of the improvement? L�f
F. Estimated or actual date of completion of these improvements? ...
G. If this is not a singe-family dwelling unit,which you own and reside in,will these improvements create a displacement of
your tenants? Yes No
CITY OF WATERLOO
APPROVED DATED: t l (� RESOLUTION NO:
DENIED
BLACK HAWK COUNTY ASSESSOR
APPROVED DATED:
Tani 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.