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HomeMy WebLinkAboutA040 - Resolution No. 12-272 adopted May 22, 2012 RESOLUTION NO. 12-272 RESOLUTION APPROVING ELIGIBILITY FOR TAX ABATEMENT IN CAMPUSTOWN URBAN REVITALIZATION AREA FOR 127 STANTON AVENUE, SUBJECT TO EXECUTION OF RESTRICTIVE COVENANTS FOR THE CITY OF AMES,IOWA WHEREAS,each year,property owners who have developed,redeveloped,rehabilitated,or remodeled property within the Urban Revitalization Areas of the city claim tax exemption for work that has been done, as provided for in the Code of Iowa; and, WHEREAS,Campus Acquisitions,the property owner of 127 Stanton Avenue,is requesting prior approval for a 10-year tax exemption on increased value by the proposed improvements; and, WHEREAS,the property is within the already-established Campustown Urban Revitalization Area; and, WHEREAS, to be eligible for tax abatement, the project must comply with the criteria established by the approved Campustown Urban Revitalization Plan; and, WHEREAS, before the pre-existing building was demolished, the Building Inspections Division staff examined the building and determined that the building was a blight upon the neighborhood and a public nuisance, and, therefore, complies with the City of Ames Urban Revitalization Program definition of slum and blight; and, WHEREAS, City staff has reviewed the building and site plans and determined that the design meets the Urban Revitalization"design standards" criteria; and, WHEREAS, to be eligible for tax abatement, a third set of criteria must be met for any residential uses, and due to the specific facilities provided and the relationship of this site between the Legacy Tower to the north and the bar to the south, the property owner has been working for several months with the Police Department to make the proposed facility safe and secure; and, WHEREAS,the City Council can give prior approval to tax abatement for the improvements at 127 Stanton Avenue, subject to the following conditions: 1) the project is constructed in compliance with the approved Minor Site Development Plan; and, 2) an agreement regarding the operational and maintenance issues listed in Attachment E (as attached) is executed and presented to the City Council prior to applying for tax abatement. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the proposed eligibility for tax abatement for the improvements at 127 Stanton Avenue is hereby approved, subject to two aforementioned conditions. ADOPTED THIS 22"d day of May, 2012. A010— Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Goodman Seconded by: Larson Voting aye: Davis, Goodman, Larson, Orazem, Szopinski, Wacha Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 22"d day of May, 2012.