|
Date
|
May 4, 2009
|
|
|
Agenda
Item No. 19 Roll
Call No. 09- Communication No.
09-263 Submitted
by: Larry Hulse, Community Development Department
Director |
|||
AGENDA
HEADING:
Approval
of two (2) tax abatement applications for improvements to property located at 1001
Cherry Street and 2521Kingman Blvd.
SYNOPSIS:
Approval
of the applications to apply prospectively as provided by Iowa Law. The applications were filed with the City of
Des Moines Prior to February 1, 2009 but were inadvertently omitted from the
approval list submitted to City Council on February 23, 2009.
FISCAL
IMPACT:
Amount:
Tax abatement upon property with a claimed value of $886,238.00.
·
Taxes
are generated in the first year from the land value, but the improvement value
will be forth coming when the $886,238.00 comes on the tax rolls after
abatement ends.
ADDITIONAL
INFORMATION:
There is only a two-year grace period in which an applicant can file for abatement without losing time from the maximum time abatement is allowed. The applicant for 2521 Kingman Blvd. did not timely file the abatement application until this year and therefore can only receive abatement for the number of years remaining on the schedule chosen. Therefore, this application should be approved only for the time remaining on the chosen abatement schedule.
The other application for 1001 Cherry Street was timely filed and should be approved for the full amount of time allowed by the chosen abatement schedule. This application was inadvertently omitted from the applications approved by City Council on February 23, 2009.
PREVIOUS
COUNCIL ACTION(S):
Date: February
23, 2009
Roll
Call Number: 09-278
Action: Approving 392 Tax Abatement applications
for additional value added by improvements made in 2008. (Council Communication
No. 09-124)
Moved by Hensley to adopt. Motion
carried 7-0.
Date: February
23, 2009
Roll
Call Number: 09-279
Action: Approving Tax Abatement applications for
additional value added by improvements completed in 2003 and 2005 for 2521
Kingman Boulevard and 1701 Gillette Street.
(Council Communication
No. 09-125)
Moved by Hensley to adopt. Motion
carried 7-0.
Date:
February 9, 2009
Roll
Call Number: 09-179
Action:
Approving 183 Tax Abatement applications
for the additional value added by improvements made during 2008. (Council
Communication No. 09-052) Moved by Vlassis to
adopt. Motion Carried 7-0.
BOARD/COMMISSION
ACTION(S): NONE
ANTICIPATED
ACTIONS AND FUTURE COMMITMENTS:
The
tax abatement program on new improvements currently ends on December 31, 2011,
unless the City Council extends the program beyond that date. Any application received by February 1, 2012,
and approved by the City Council will receive abatement for the number of years
applied for. It is anticipated that
there will be numerous submittals of tax abatement applications on a yearly
basis until the program ends.
For more
information on this and other agenda items, please call the City Clerk’s Office
at 515-283-4209 or visit the Clerk’s Office on the second floor of City Hall,