The URL can be used to link to this page

Home My Public Portal AboutResolutions-2024-001Tiffin/436989/112A Amend RESOLUTION NO. 2024-001 Resolution Approving Tax Abatement Application for the Villages Part III Urban Revitalization Area WHEREAS, pursuant to the provisions of Chapter 404 of the Code of Iowa (the "Act) the City of Tiffin, Iowa, has designated an area of the City as the Villages Part I Urban Revitalization Area (the "Urban Revitalization Area") and has adopted an Urban Revitalization Plan (the "Plan") for the governance of projects and initiatives to be undertaken therein; and WHEREAS, the Act provides that property owners making qualified improvements under the Plan may apply to the City Council for tax abatement, and the City Council shall approve the application if it finds: (a) the project is in a designated urban revitalization area; (b) the project is in conformance with the urban revitalization plan for such area; and (c) the improvements, were made during the time the area was so designated; and WHEREAS, the Act provides that the first application for an exemption under the Plan shall be filed with the City by the property owner by February 1 of year in which all improvements included in the project are first assessed for taxation, or the following two assessment years, in which case the exemption is allowed for the total number of years in the exemption schedule; and WHEREAS, the Hunt Club, LLC (the "Property Owner") has completed certain qualifying improvements (the "Qualifying Improvements") under the Plan and has submitted an application (the "Application") to the City to receive the exemption benefits under the Plan; and WHEREAS, it is now necessary for the City to approve the Application; NOW, THEREFORE, Be It Resolved by the City Council of the City of Tiffin, Iowa, as follows: Section 1. It is hereby found and determined: (a) Phase III of the Qualifying Improvements described in the Application were completed in 2023 and first assessed for taxation as of January 1, 2024. (b) The Qualifying Improvements were constructed in the Urban Revitalization (c) The Qualifying Improvements were constructed in conformance with the (d) The Qualifying Improvements were constructed during the time the Urban Revitalization Area was so designated. (e) The Application was filed in a timely fashion as to allow the Property Owner the exemption benefits set forth in the Plan for the total number of years in the exemption schedule. Area. Plan. -2- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA Tiffin/436989/HRA Amend Section 2. The Application is hereby approved, subject to review by the Johnson County Assessor pursuant to Section 404.5 of the Act, and the City is hereby directed to forward a copy of this resolution and such Application to the Johnson County Assessor prior to March 1, 2024. Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed, to the extent of such conflict. Attest: Passed and approved January 5, 2024. Mayor -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA APPLICATION FOR TAX ABATEMENT UNDER THE URBAN REVITALIZATION PLAN VILLAGES PART I URBAN REVITALIZATION AREA Residential Improvements (Multifamily) The construction of new residential facilities and the construction of additions to existing residential facilities if such residential facilities contain three or more separate dwelling units. Exemption: All qualified real estate assessed as residential property under Section 441 .22, subsection 14, paragraph "a", subparagraph (6) of the Code of Iowa is eligible to receive an exemption from taxation on 50% of the actual value added by the improvements for a period of ten years. Name of Applicant: The Hunt Club III, LLC Address of Property: Please see attached list for individual unit addresses Legal Description of Property: Please see attached document that is legal description for all units. Address of Applicant (if different from above): Attn: Darryl High 211 1st Ave. SE, Suite A Cedar Rapids, IA 52401 Phone Number (to be reached during day): (319) 363-3900 Proposed Property Use: Nature of Improvements: Residential (Multifamily -Three+ Dwelling Units) New Construction ❑ Rehabilitation/Additions Additional Information: This Application reflects the third completed phase of an overall planned 4 -phase residential development consisting of sixty (60) rental units per phase. Developer asks the City Council of Tiffin to approve the commencement of the 10 -year abatement period to start with Year 1 being effective with the Johnson County Assessor's new property tax assessment value as of 01/01/2024. Estimated or Actual Date of Completion: Completed on 09/22/2023 Date: 11/15/2023 Darryl High Managing Member 4855-2477-8563\1 111151202312:02 PM Unit .. hc3 APP806 APP808 APP811 APP812 APP813 APP814 APP815 APP817 APP818 APP820 APP821 APP823 APP824 APP826 APP829 APP830 APP831 APP832 APP835 APP836 APP837 APP838 APP841 APP842 APP843 BEL807 BEL809 BEL813 BEL815 BEL819 BEL821 BEL825 BEL827 BEL831 BEL833 BEL837 THO806 THO807 THO808 THO809 THO812 THO813 THO814 THO815 The Address • Appaloosa 806 Appaloosa 808 Appaloosa 811 Appaloosa 812 Appaloosa 813 Appaloosa 814 Appaloosa 815 Appaloosa 817 Appaloosa 818 Appaloosa 820 Appaloosa 821 Appaloosa 823 Appaloosa 824 Appaloosa 826 Appaloosa 829 Appaloosa 830 Appaloosa 831 Appaloosa 832 Appaloosa 835 Appaloosa 836 Appaloosa 837 Appaloosa 838 Appaloosa 841 Appaloosa 842 Appaloosa 843 Belgian 807 Belgian 809 Belgian 813 Belgian 815 Belgian 819 Belgian 821 Belgian 825 Belgian 827 Belgian 831 Belgian 833 Belgian 837 Thoroughbred 806 Thoroughbred 807 Thoroughbred 808 Thoroughbred 809 Thoroughbred 812 Thoroughbred 813 Thoroughbred 814 Thoroughbred 815 Unit Directory Hunt Club Phase III As of 11/15/2023 Unit Type HC3E225 HC3E225 HC3 E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3AH2x2 HC3AH2x2 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 HC3E225 Page 1 of 2 (hc3) Sgft Bedrooms Baths;` 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,063.00 2.00 1,063.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 1,391.00 2.00 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 11/15/2023 12:02 PM Unit`; TH0818 TH0819 TH0820 TH0821 TH0824 TH0825 TH0826 TH0827 TH0830 TH0831 TH0832 TH0833 TH0836 TH0837 TH0839 THO Address Thoroughbred 818 Thoroughbred 819 Thoroughbred 820 Thoroughbred 821 Thoroughbred 824 Thoroughbred 825 Thoroughbred 826 Thoroughbred 827 Thoroughbred 830 Thoroughbred 831 Thoroughbred 832 Thoroughbred 833 Thoroughbred 836 Thoroughbred 837 Thoroughbred 839 843, Thoroughbred 843 Total hc3 Grand Total Unit Directory The Hunt Club Phase III (116) As of 11115_ /2023 UnitTy�pe :, Sgfi HC3E225 HC3E225 HC3E225 HC3E225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 HC3EH225 Units: 60 82,804.00 edrooms Baths 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 1,391.00 2.00 2.50 Units: 60 Page 2of2 82,804.00 The Hunt Club III LLC Legal Description From Final Plat of Survey As Recorded 08/25/2020 LEGAL DESCRIPTION— Auditor's Parce1202006f R part of the SE ;4 NE % and a part of the NE 'l, NE 14 of Section 33, Township 80 North, Flange 7 West of the 5th Principal Meridian, City of Tiffin, Johnson County, Iowa described es follows: Beginning at the NE corner of said SEX NE go; thence S 01 °37'37" E along the east line of said SE Y NE J, 265.85 feet to the east line of Hunt Club Phase 1 and Phase 2 to said City; thence N 89°50'45" Walong said east line, 319.15 feet to the point of beginning; thence continuing N 89°50'45"W said east fine, 270.95 feet; thence N 00°09'15"E said east line, 384.05 feet; thence S 89°50'45"E said east line, 150.61 abet; thence N 00°09'15" E said east lime, 55.79 feet; thence S 89°5045"E said east line, 240.67 feet; thence s 00"09'15" W, 374.06 feet; thence N 89°50'46"W, 120.33 feet; thence S 00°0915"W, 66,78 feet to the point of beginning, contalnfig 3.58 acres. ,„In°ttl°1111111=11 l hereby certify that this land surveying document AND �r•°, •,,,.,•,",•1.,,, Gy ••` •• '.., ` 4 •� and the related survey work was performed by me or under y direct personal supervision and that l am a duiy licensed Land Surveyor under the laws of the State of lowo. STEPHEN , signed Date MICHAEL �4' BRAIN ''4, 9647 ''•. .••`"'• " a •h,n1„n. a4 en Michael Brain, L,S, My License Renewal Date Is December 31, 2020 , ° License ""ulhl„m " imN�+ " Number 9947 Pages or sheets covered by this seal: THIS PAGE