HomeMy WebLinkAboutA024 - Resolution No. 05-101 RESOLUTION NO. 05-101
RESOLUTION ADOPTING ANOTHER AMENDMENT TO
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. 7; and,
WHEREAS,by Resolution No. 01-111,the said plan was amended to provide a three year
100%tax exemption with respect to buildings constructed for retail use on or before May 2,2004;
and,
WHEREAS, it is now desired to provide the said three year 100% tax exemption, both
prospectively and retroactively, to buildings constructed for retail use after May 1, 2001, but prior
to July 1, 2008; and,
WHEREAS, the required notice and public hearing has occurred pursuant to Subsection
404.2(6) Code of Iowa;
NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Ames,
Iowa, that:
Section One. The economic development of Urban Revitalization Area No. 7 is necessary
in the interest of the welfare of the residents of the City.
Section Two. Urban Revitalization Area No. 7 has been declared to be and is again declared
to be both an urban renewal area and an urban revitalization area.
Section Three. All buildings that have been constructed after May 1,2001,but prior to July
1,2008, in the said Urban Revitalization Area No. 7 for use as an establishment for the retail sale
of goods or services shall be eligible to receive, for a period of three years,a 100%exemption from
tax of the actual value added to the taxed real estate by such building.
Section Four. The tax exemption schedule adopted by the unamended Resolution No.97-498
shall remain in effect for the commercial and residential improvements to the Urban Revitalization
Area No. 7 that are within the scope of the"Statement of Applic bility"adopted by that resolution.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
R193