HomeMy WebLinkAbout~Master - Three-year tax exemption for 2622 Stange Road RESOLUTION NO. 05-260
RESOLUTION APPROVING A THREE-YEAR TAX EXEMPTION
FOR THE COMMERCIAL DEVELOPMENT
AT 2622 STANGE ROAD
FOR THE CITY OF AMES
WHEREAS, on August 18, 2005,the Development Review Committee(DRC) approved a
Minor Site Development Plan to allow the construction of the Ames Racquet and Fitness Center at
2622 Stange Road in the Somerset Subdivision; and,
WHEREAS, on February 1, 2005, the owner of Ames Racquet and Fitness Center applied
for tax abatement under the Somerset Urban Revitalization Area; and,
WHEREAS, at that time, it was brought to the City Council's attention that the Somerset
Urban Revitalization Area(URA) had expired; and,
WHEREAS, it was not the City's intent that the Somerset URA tax abatement for
commercial development expire; and,
WHEREAS,on March 8,2005,the City Council directed that all buildings constructed after
May 1,2001,but prior to July 1, 2008, in the Somerset URA being used for the retail sale of goods
or services be eligible to receive,for a period of three years,a 100%exemption from tax of the actual
value added to the taxed real estate by such building.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the request for a three-year tax exemption for the commercial development at 2622 Stange Road,
as conforming to the Somerset Urban Revitalization Plan, is hereby approved.
ADOPTED THIS 14th day of June, 2005.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Goodhue
Seconded by: Wirth
Voting aye: Cross, Goodhue, Mahayni, Vegge, Wirth
Voting nay: Goodman Absent: None
Resolution declared adopted and signed by the Mayor this 14"day of June, 2005.