Resolutions-2007-19

J. APPLICATION PROCEDURES An application shall be filed for each new exemption claimed. The property owner must apply to the City for an exemption by February 1st of the assessment year for which the exemption is first claimed, but not later than the year in which all improvements included in the project are first assessed for taxation. The application shall contain, but not be limited to, the following information: the nature of the improvement, its cost, and the estimated or actual dates beginning and completing the improvement. K. PRIOR APPROVAL While applications should generally be filed after projects are completed, owners may submit a proposal for an improvement project to the City Council to receive prior approval for eligibility for a tax exemption on the project. The City Council shall give its prior approval if the project is in conformance with this plan for revitalization. However, if the proposal is not approved, the owner(s) may submit an amended proposal for the City Council to approve or reject. Such prior approval shall not entitle the owner(s) to exemption from taxation until the improvements have been completed and found to be qualified for the exemption. L. APPROVAL OF APPLICATIONS The City Council shall approve all applications submitted for completed projects if: 1. The project, as determined by the City Council, is in conformance with this plan; 2. The project is located within the Revitalization Area; and, 3. The improvements were made during the time the Revitalization Area was designated as a revitalization area. All approved applications shall be forwarded to the county assessor for review, pursuant to Section 404.5 of the Code of Iowa. The county assessor shall make a physical review of all properties with approved applications. The county assessor shall determine the increase in actual value for tax purposes due to the improvements and notify the applicant of the determination, which may be appealed to the local board of review pursuant to Section 441.37 of the Code of Iowa. After the initial tax exemption is granted, the county assessor shall continue to grant the tax exemption for the time period specified on the approved application. The tax exemptions for the succeeding years shall be granted without the owner(s) having to file an application for succeeding years. M. OTHER SOURCES OF REVITALIZATION FUNDS The City anticipates no other federal or state grants or loans for improvements in the area at this time other than those of conventional lending institutions at normal market rates. However, it is not the intention of the City to prohibit the use of other appropriate federal or state revitalization or incentive programs within the area. N. RELOCATION PROVISIONS The City does not anticipate the displacement or relocation of any persons, families, or businesses as a result of the improvements to be made in the Revitalization Area.