HomeMy WebLinkAbout~Master - Urban Revitalization Program for Multiple-Family Residential properties RESOLUTION NO. 06-493
RESOLUTION TERMINATING THE ESTABLISHMENT OF
NEW URBAN REVITALIZATION AREAS UNDER THE
MULTIPLE-FAMILY RESIDENTIAL CRITERIA MATRIX
FOR ANY PROJECTS FOR WHICH AN APPLICATION IS
NOT RECEIVED BY DECEMBER 31, 2006
WHEREAS, in 2000 the City Council changed the Urban Revitalization Program to focus
on redeveloping neglected properties with built-up areas of the city by making specific projects
meeting the Urban Revitalization Multiple Family Residential Criteria Matrix eligible for tax
abatements; and,
WHEREAS,the City Council received a staff report on November 14,2006,indicating that
the tax abatement incentive provided to apartment developers through the Urban Revitalization
Program for Multiple-family Residential Properties exceeds the developers'costs for meeting quality
upgrades to building exteriors and landscaping; and,
WHEREAS, the City received applications for proposed Urban Revitalization Program
projects from developers prior to the November 14, 2006, City Council meeting; and,
WHEREAS, the City Council intends to allow consideration of applications for project
applications received by December 31, 2006,but not after that date.
NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Ames,
Iowa,that the Urban Revitalization Program for Multiple-family Residential Properties is terminated
for projects for which an application is not received by December 31, 2006.
Done this 12' day of December, 2006.
BY W Attested b Y
&IN
Ann H. Campbell, Mayor Diane R. Voss, City Clerk