HomeMy WebLinkAbout~Master - Tax Exemptions for Urban Revitalization Work at 258 North Hyland Avenue RESOLUTION NO. 00-350
RESOLUTION EXTENDING TIME FOR FILING
FOR TAX EXEMPTIONS ON PROPERTIES
WITHIN TRANSITIONAL REVITALIZATION ZONE
WHEREAS,Hested-Cornwell, L.C. (the"Property Owner") submitted an application dated
January 13, 1998, to the City Council of Ames, Iowa, requesting exemption from property taxes
under the provisions of Chapter 404 of the Iowa Code in connection with improvements made on
its property located within an Urban Revitalization district,specifically property located at 258 North
Hyland Avenue (the "Project") for a period of three years, and
WHEREAS, the City Council of Ames, Iowa approved the Property Owner's application
exempting said real estate and the improvements thereon from property taxes by resolution dated
February 24, 1998, and
WHEREAS, the City Council subsequently abolished the Urban Revitalization district and
created a transitional revitalization zone allowing continued exemption for projects already approved
within the abolished districts, and
WHEREAS, for reasons beyond the control of the Property Owner, a separate application
for the exemption of taxes on improvements added to the Project during the year 1999 (the "1999
Improvements") was not filed by February 1, 2000, and
WHEREAS, Section 404.4 of the Iowa Code authorizes the City Council, upon the request
of the property owner at any time, to permit the property owner to file an application for approval
of the exemption by February 1, of any other assessment year, and
WHEREAS, it is appropriate to extend the time for filing for tax exemptions within the
transitional revitalization zone for improvements made on the Project in 1999 to March 1, 2001, and
to allow the Property Owner to file an application for a full three year exemption (100% exemption
each year)with respect to the 1999 Improvements effective for the assessment years 2001, 2002 and
2003.
NOW, THEREFORE, BE IT RESOLVED by the City of Ames, Iowa, that the time for
filing tax exemptions within the transitional revitalization zone is extended through March 1, 2001,
and that Hested-Cornwell, L.C. is allowed to file an application for a full three year exemption
(100% exemption each year) with respect to the 1999 Improvements effective for the assessment
years 2001, 2002 and 2003.
Done this 25th day of_ July , 2000.
_ Q� l� .-Va&J,
Diane R. Voss, City Clerk Ted Tedesco, Mayor
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