HomeMy WebLinkAboutA008 - Resolution No. 01-186 adopted May 8, 2001 RESOLUTION NO. 01-186
RESOLUTION APPROVING THE PLAN FOR THE 511 SOUTH FOURTH
STREET URBAN REVITALIZATION AREA
WHEREAS,the City staff has prepared a proposed plan for a proposed urban revitalization
area to be named the 511 South Fourth Street Urban Revitalization Area as described in the proposed
plan attached hereto; and,
WHEREAS, a public hearing was scheduled and notice given to owners of record of real
property located within the proposed 511 South Fourth Street Urban Revitalization area and to the
tenants and occupants living within the said proposed urban revitalization area pursuant to and in
accordance with Section 404.2(3), Code of Iowa;
NOW,THEREFORE, BE IT RESOLVED:
1. That it is found that the rehabilitation, conservation, redevelopment, economic
development,or a combination thereof with respect to the said area is necessary in the interest of the
public health,safety,or welfare of the residents of the City and the area meets the criteria of Section
404.1, Code of Iowa and is also declared appropriate for and designated as an urban renewal area
for purposes of section 404.3(6) Code of Iowa.
2. The revitalization plan for the said area, called the 511 South Fourth Street Urban
Revitalization Area, as now on file, shall be and the same is hereby approved and adopted.
Done this 8th day of May, 2001.
gy: Attested by:L�CI,�.a/ 10
Ted Tedesco, Mayor Diane R. Voss, City Clerk
R044
URBAN REVITALIZATION PLAN
511 South 4th Street
1. Property Addresses: *511 South 4th Street 325 South Walnut Avenue
2. Legal Description:
Lots 8,9,12,and that part of the vacated alley lying west of and adjacent to the said lots 8,9 and 12 in Block C of Black's Fourth
Addition to the City of Ames,Story County,Iowa.
3. Assessed Valuation:
Land: $28,900.00 Buildings: $79,000.00
$21,500.00 $51,500.00
4. Owners:
Name: (A)Kent and Joan Cooper Address: 909 Brookridge Ave Ames IA 50010
(B)Gregory Cooper 54398 276th St Kelley IA 50134
5. Zoning District and Classification:
RH(Residential High Density Zone)
6. City Services:
No enhancements are planned.
7. Applicability of Revitalization:
Revitalization shall be applicable only to that subset of eligible property within the commercial assessment classification that
takes the form of a new 3 story,16 unit apartment building at 511 South 4th Street.
8. Duration:
The end date for tax exemption benefits is June 1,2003.The tax abatement schedule available for this property are 3 year at
100%;5 year decending from 100%,80%,60%,40%,20%;and 10 year decending from 80%,70%,60%,50%,40%,40
30%,30%,20%,20%
9. Relocation:
The plan does not require that displacement of any persons,and there will be no relocation benefits provided.
10. Percent Increase in Value Required:
The value-added requirement os a five(5)percent increase in actual value.
11. Federal State or Private Grant/Loan Programs for Residential Improvements:
There are no grants and loans.
12. Existing Land Use
**C-10,4 Apartments
R-70,2-Story 1945 and older
13. Geocode: 0911103100 0911103090
*Letters(A), (B), etc. refer to that specific property throughout the document.
**(c-10, r-70,etc.)refer to the City Assessor's land use codes.
law\planpatt.525