I-3 - Resolution 2025-003 - Approving Tax Abatement Application - Villages Hunt Club - Clubhouse-Rental Office

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 441.21, 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 Commons, LLC Address of Property: 500 Clubhouse Dr, Tiffin, IA 52340 Legal Description of Property: STR 33-80-7 -- THAT PART OF N 1/2 NE DESC AS AUDITOR’S PARCEL 2020060 IN SURVEY BK 64 PG 84 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: ☒ Residential (Multifamily-Three+ Dwelling Units) Nature of Improvements: ☒ New Construction ☐ Rehabilitation/Additions Additional Information: This Application reflects the completed clubhouse building that serves as the rental office for the currently completed three phases of the overall planned 4-phase The Hunt Club 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 50% property tax abatement period to start with Year 1 being effective with the Johnson County Assessor’s new property tax assessment value as of 01/01/2025. Estimated or Actual Date of Completion: Completed on 10/26/2023 Date: 04/29/2024 Signature of Applicant Darryl High Printed Name of Applicant Managing Member Applicant’s Title