HomeMy WebLinkAbout~Master - Amendment to Plan for Somerset URA 0 �.
RESOLUTION NO. 01110
RESOLUTION AMENDING THE PLAN FOR THE
SOMERSET URBAN REVITALIZATION AREA
WHEREAS,the City Council,by Resolution No.61-/0 q adopted an Urban Revitalization
Plan for the Somerset Urban Revitalization Area; and,
WHEREAS, it is now desired to amend the said plan;
NOW, THEREFORE, BE IT RESOLVED that the revitalization plan for the said area,
called the Somerset Urban Revitalization Area, as adopted by Resolution No. 0101-109 is hereby
amended to be as stated in the plan attached hereto.
Done this 27th day of March, 2001.
By: Attested by:OS6 �N1 W O A,44,
Ted Tedesco, Mayor Diane R. Voss, City Clerk
R042
URBAN REVI
TALIZATION PLAN � �
Somerset
1. Property Addresses: See Attachment A
2. Legal Description.
See Attachment B
3. Assessed Valuation:
Land: See Attachment A Buildings: See Attachment A
4. Owners:
Name: See Attachment A Address: See Attachment A
5. Zoning District and Classification:
V-R(Village Residential)
6. City Services:
No enhancements are planned
7. Applicability of Revitalization:
See Attachment C
8. Duration:
January 1,2001-February 2,2004
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:
There are no grants or loans.
12. Existing Land Use
See Attachment A
13. Geocode: See Attachment A
*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.
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3 Map Reference Number (See Attachment)
Prepared by the Department of Planning and Housing 200 0 200 Feet
Map prepared: 11212000
Attachment B
SOMERSET SUBDIVISION TAX ABATEMENT
AMES , STORY COUNTY , IOWA
LEGAL DESCRIPTION
OCTOBER 16 , 2000
Beginning at the Southeast Corner of Lot 4 in Somerset
Subdivision First Addition to the City of Ames, Story
County, Iowa; thence, S89°05 ' ll"W along the South Line of
said Lot 4 and along the South Line of Lot C in Somerset
Subdivision Second Addition to the City of Ames, Story
County, Iowa a distance of 256 . 64 feet to the Southeast
Corner of Outlot FF in said Somerset Subdivision Second
Addition; thence, S8903812811W along the South Line of said
Outlot FF a distance of 1038 . 11 feet to the Southwest Corner
of said Outlot FF; thence, N0002113211W along the West Line
of Outlot FF and Outlot D in said Somerset Subdivision
Second Addition a distance of 198 . 00 feet ; thence,
S8903812811W along the South Line of Lots 15, 16 , 17 , and 18
in said Somerset Subdivision Second Addition a distance of
249 . 24 feet; thence, S00°10 ' 1911E along the East Line of
Outlot CC in said Somerset Subdivision Second Addition a
distance of 172 . 94 feet ; thence, S8903612611W along the North
Right-of-Way Line of 24th Street as it is presently
established a distance of 335 . 98 feet; thence, N0002313411W
along the West Line of Lot 9 in Somerset Subdivision Seventh
Addition to the City of Ames, Story County, Iowa a distance
of 138 . 00 feet ; thence, S8903612611W along the South Line of
Outlot PP in Somerset Subdivision Third Addition to the City
of Ames, Story County, Iowa a distance of 174 . 00 feet;
thence, S1403712611W along the Easterly Line of Outlot RR in
said Somerset Subdivision Third Addition a distance of
141 . 71 feet; thence, Northwesterly along the Southwesterly
Line of said Outlot RR and along a 758 . 51 foot radius curve
concave Northeasterly a distance of 1156 . 86 feet; thence,
N0000713111E along the East Right-of-Way Line of George
Washington Carver Avenue as it is presently established a
distance of 75 . 87 feet; thence, S8905212911E along the North
Right-of-Way Line of Northridge Parkway as it is presently
established a distance of 57 . 04 feet; thence, Easterly along
the North Right-of-Way Line of said Northridge Parkway and
along a 603 . 23 foot radius curve concave Northerly a
distance of 235 . 13 feet ; thence, N67°47131"E along the North
Right-of-Way Line of said Northridge Parkway a distance of
458 . 27 feet ; thence, Easterly along the North Right-of Way
Line of said Northridge Parkway and along a 1530 . 00 foot
radius curve concave southerly a distance of 139 . 07 feet ;
thence, N7300010011E along the Northerly Right-of-Way Line of
said Northridge Parkway a distance of 281 . 29 feet ; thence,
Northerly along the West Right-of-Way Line of Stange Road as
it is presently established and along a 325 . 40 foot radius
curve concave Westerly a distance of 18 . 56 feet ; thence
Northerly along the West Right-of-Way Line of said Stange
Road and along a 500 . 00 foot radius curve concave Easterly a
distance of 497 . 20 feet; thence, N2600415411E along the West
Right-of-Way Line of said Stange Road a distance of 69 . 60
feet ; thence North along the West Right-of-Way Line of said
Stange Road and along a 325 .40 foot radius curve concave
Westerly a distance of 153 . 60 feet; thence, N00°00 ' 00"E
along the West Right-of-Way Line of said Stange Road a
distance of 223 . 26 feet ; thence, N90°0010011E a distance of
1013 . 97 feet ; thence, Southeasterly along a 128 . 00 foot
radius curve tangent to the preceding course concave
Southerly a distance of 86 . 32 feet ; thence, S5102114811E a
distance of 132 . 23 feet; thence, Southeasterly along a 72 . 00
foot radius curve tangent to the preceding course concave
Northerly a distance of 48 . 55 feet; thence, N9000010011E a
distance of 47 . 93 feet ; thence, Easterly along a 901 . 54 foot
radius curve tangent to the preceding course concave
Northerly a distance of 188 . 14 feet ; thence, N7702410811E a
distance of 179 . 82 feet ; thence, S0002213811E along the West
Line of Lot 3 in said Somerset Subdivision First Addition a
distance of 2051 . 08 feet to the Point of Beginning.
Said tract of land contains 102 .493 acres, more or less .
Attachment C
The project consists of 3-year, 100% tax abatement for buildings constructed for single
family detached residential occupancy from May 1 , 2001 until May 2, 2004 with the
following stipulations:
1 . Not less than ten single-family detached or attached housing units shall either be
under construction or complete 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. Purchasers of lots from the Developers will be eligible to receive house plans that
have been approved to meet the architectural guidelines in Somerset. These
plans will be provided to the lot purchaser free of charge.
4. Developers, with respect to newly constructed and never occupied homes for sale
in the Somerset subdivisions grant an additional $1,000 bonus (per sale) to the
selling real estate agent that sells such a property in the Somerset Subdivisions.
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. Civic groups are allowed to use the Somerset clubhouse free of charge on a one-
time basis.
7. 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, provided that the agents follow all the rules and procedures of Somerset.
8. The Developers 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 developers and City share the cost for Zimmerman/Volk to perform a Market
Position Analysis.
"Developer" means: Friedrich IA Realty, R. Friedrich & Sons, Furman Realty, The Furman
Corporation, Hunziker & Associates Realtors, HCS Construction, Jon Hunziker Construction,
or any of its subsidiary companies.