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Memo
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TO: Mark Reinig, Economic Development Specialist
Diane Voss, City Clerk
FROM: John R. Klaus, City Attorne
DATE: October 12, 2000
SUBJECT: Resolution to Amend Urban Revitalization Plan, Area 7
With this is the resolution to amend the urban revitalization plan for area 7. Mark,you will want to
put the same wording into the plan for the new Somerset URA, so I would like you to run it past the
developers so that we can resolve any problems before it is officially adopted to possibly reduce the
number of amendments later.
JRK:gmw
Attachment
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 January 1,2001,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 be under
construction 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. The owners of vacant lots for sale in the Somerset subdivisions provide free of charge
to prospective personal home buyers,house plans that have been approved to meet the architectural
guidelines that control construction in the Somerset subdivisions.
4. Owners of newly constructed and never occupied homes for sale in the Somerset
subdivisions grant an additional $1,000 bonus to each real estate agent that sells such a property in
the Somerset Subdivisions, for each such sale.
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.
7. Civic groups are allowed to use the Somerset clubhouse free of charge.
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.
ADOPTED THIS 28th day of November, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Somerset Urban Revitalization Area No 7,Amending Plan.wpd