HomeMy WebLinkAboutA015 - Resolution No. 03-276 adopted July 8, 2003 RESOLUTION NO. 03-276
RESOLUTION APPROVING THE PLAN FOR THE 1305
COCONINO ROAD URBAN REVITALIZATION AREA
WHEREAS,the City staff has prepared a proposed plan for a proposed urban revitalization
area to be named the 1305 Coconino Road 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 1305 Coconino Road Place 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 1305 Coconino Road Urban
Revitalization Area, as now on file, shall be and the same is hereby approved and adopted.
Done this 8`h day of July, 2003.
By: tested by: �MAWW' UM-4i
Ted Tedesco, Mayor Diane R. Voss, City Clerk
Arlington Place Urban Revitalization Docs,111802.wpd
URBAN REVITALIZATION PLAN
1. Property Addresses:
1305 Coconino Road
2. Legal Description:
The East 307 ' of the South 199' of Parcel "D", in Lot Five (5). Cochrane s Second Addition
to the City of Ames, Story County, Iowa as shown on the "Plat of Survey" filed in the office of
the Recorder of Story County, Iowa on October 9, 1997 and recorded as instrument
#97-10908 in C&FN Book 15 at Page 59.
Parcel contains: 61,093 square feet of 1.4025 Acres net.
3. Assessed Valuation: Land: 936,000
Buildings: none
4. Owners: The Rose of Ames, L.P.
1257 2nd St. North
Sauk Rapids, MN 56379
5. Zoning District and Classification:
"R4", Residential High Density Zone
6. City Services:
No new infrastructure will need to be extended to the site.
7. Applicability of Revitalization:
Revitalization shall be applicable only to that subset of eligible property with the residential
classification that takes the form of a three-story 56 unit assisted living complex for low and
moderate income individuals at 1305 Coconino Road
8. Duration:
August 12, 2013
9. Relocation:
The plan does not require the displacement of any persons, and there will be no relocation
benefits provided.
10. Percent Increase in Value Required:
The value-added requirement is a five (5) percent increase in actual value
11. Federal State or Private Grant/Loan Programs for Residential Improvements:
Low-Income Housing Tax Credit Program, Iowa Finance Authority
12. Existing Land Use:
Vacant
13. Geocode:
09-08-355-005