I-1 - Resolution 2024-001 - Approving Tax Abatement Application for Villages Part III - Hunt Club

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 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: ☒ Residential (Multifamily-Three+ Dwelling Units) Nature of Improvements: ☒ 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