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TO: Diane Voss, City Clerk
FROM: John R. Klaus, City Attorne
DATE: November 1, 2000
SUBJECT: URA#7 Plan Amendment
With this is the final form of the resolution for amendment of the revitalization plan for URA#7.
The wording has been crafted in consultation with Chuck Winkleblack of Hunziker&Associates.
The plan document for the new Somerset URA will have the same wording incorporated into it.
Mark and I will coordinate on that so the URA #7 and new Somerset URA can be enacted on
November 28.
JRK:gmw
Attachment
c: Mark Reinig
RESOLUTION NO.
RESOLUTION AMENDING THE PLAN FOR
URBAN REVITALIZATION AREA NO. 7
WHEREAS, by Resolution No. 97-498 the Ames City Council enacted an Urban Revitalization
Plan for Urban Revitalization Area No. Seven; and,
WHEREAS, it is now desired to amend the said plan; and,
WHEREAS, the required notice and public hearing has occurred pursuant to Subsection 404.2(6)
with respect to the proposed amendment;
NOW,THEREFORE,BE IT RESOLVED,by the City Council for the City of Ames,Iowa,that
the said urban revitalization plan for Urban Revitalization Area Seven shall be and is hereby
amended by adding the following to that plan:
RESIDENTIAL AND RETAIL COMMERCIAL INCENTIVE
Any provision of the revitalization plan for Urban Revitalization Area Seven to the contrary not
withstanding, any and all buildings that are constructed for residential occupancy during a period
beginning November 1,2000,to and including December 31,2003; and, any and all buildings that
are constructed for use as an establishment for retail sale of goods and or services during that same
period;shall be eligible to receive,for a period of three tax years,a 100%exemption from tax of the
actual value added to the taxed real estate by the said buildings, but on condition that, during the
period from January 1,2001,to December 31, 2003,there shall occur with respect to the Somerset
subdivisions:
1. Not less than ten single-family detached or attached housing units shall either be
under construction or complete and offered for sale at all times.
2. With respect to the aforesaid housing units, special financing terms shall be offered
to persons purchasing such units for their own occupancy,in the form of interest write downs or cash
bonuses equaling, at a minimum, $3,000 up to $6,500 depending on the mortgage amount.
3. Purchasers of lots from the Developers will be eligible to receive house plans that
have been approved to meet the architectural guidelines in Somerset. These plans will be provided
to the lot purchaser free of charge.
4. Developers,with respect to newly constructed and never occupied homes for sale in
the Somerset subdivisions grant an additional$1,000 bonus(per sale)to the selling real estate firm
that sells such a property in the Somerset Subdivisions.
5. Informational meetings are held for all real estate agents in the City of Ames to
explain the village concept and to showcase the completed inventory available for sale in the
Somerset subdivisions.
6. The parties that have platted or succeed to the interest in the Somerset subdivisions
of the parties who have platted those subdivisions are working with a marketing firm that specializes
in neo-traditional developments to implement a marketing strategy in accordance with the
suggestions of that firm. The Developers shall make reasonable resources available to implement
the new strategies,however,the Developers shall have the right to not implement all of the ideas if
they are cost prohibitive.
7. Civic groups are allowed to use the Somerset clubhouse free of charge on a one-time
basis.
8. The parties that have platted or succeeded to the interests in the Somerset
subdivisions of the parties who have platted those subdivisions are continuing to develop the entire
Somerset project as shown by the City approved preliminary plat of Somerset as a village in
accordance with the zoning change agreement adopted for the Somerset subdivisions.
9. The selling of new homes constructed in the Somerset Subdivision is, at all times
while this plan is in effect,open to all real estate agents of the local real estate market,provided that
the agents follow all the rules and procedures for Somerset.
"Developer"means:Friedrich IA Realty,R.Friedrich&Sons,Furman Realty,The Furman
Corporation,Hunziker&Associates Realtors,HCS Construction,Jon Hunziker Construction,or any
of its subsidiary companies.
ADOPTED THIS 28th day of November, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Somerset Urban Revitalization Area No 7,Amending Plan.wpd
rev. 10/31/00