Resolutions-2017-022

SAID TRACT OF LAND CONTAINS 15.55 ACRES, AND IS SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD; and A PORTION OF SECTION 27, TOWNSHIP 80 NORTH, RANGE 7 WEST, OF THE FIFTH PRINCIPAL MERIDIAN, TIFFIN, JOHNSON COUNTY, IOWA, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTH QUARTER CORNER OF SECTION 27, TOWNSHIP 80 NORTH, RANGE 7 WEST, OF THE FIFTH PRINCIPAL MERIDIAN, TIFFIN, JOHNSON COUNTY, IOWA; THENCE S00°35'44"E, ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 27, A DISTANCE OF 275.33 FEET, TO THE POINT OF BEGINNING; THENCE N79°42'37"E, 42.28 FEET; THENCE SOUTHEASTERLY, 213.11 FEET ALONG A 1260.00 FOOT RADIUS CURVE, CONCAVE SOUTHWESTERLY, WHOSE 212.86 FOOT CHORD BEARS S05°26'40"E; THENCE S00°35'56"E, 590.27 FEET; THENCE SOUTHWESTERLY, 136.12 FEET ALONG AN 860.00 FOOT RADIUS CURVE, CONCAVE NORTHWESTERLY, WHOSE 135.98 FOOT CHORD BEARS S03°56'07"W; THENCE SOUTHWESTERLY, 117.13 FEET ALONG A 740.00 FOOT RADIUS CURVE, CONCAVE SOUTHEASTERLY, WHOSE 117.00 FOOT CORD BEARS S03°56'07"W; THENCE S00°35'56"E, 2278.50 FEET; THENCE N84°21'38"W, 120.71 FEET; THENCE N00°35'56"W, 2265.39 FEET; THENCE NORTHEASTERLY, 136.12 FEET ALONG AN 860.00 FOOT RADIUS CURVE, CONCAVE SOUTHEASTERLY, WHOSE 135.98 FOOT CHORD BEARS N03°56'07"E; THENCE NORTHEASTERLY, 117.13 FEET ALONG A 740.00 FOOT RADIUS CURVE, CONCAVE NORTHWESTERLY, WHOSE 117.00 FOOT CHORD BEARS N03°56'07"E; THENCE N00°35'56"W, 590.27 FEET; THENCE NORTHWESTERLY, 192.81 FEET, ALONG A 1140.00 FOOT RADIUS CURVE, CONCAVE SOUTHWESTERLY, WHOSE 192.58 FOOT CHORD BEARS N05°26'40"W; THENCE N79°42'37"E, 77.72 FEET, TO THE POINT OF BEGINNING. SAID PHASE THREE RIGHT-OF-WAY CONTAINS 9.14 ACRES, AND IS SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD. The subject matter of the public hearing will also include a proposed urban renewal plan and project for the Urban Renewal Area identified above, pursuant to Chapter 403, Code of Iowa, a copy of which plan is on file for public inspection in the office of the City Clerk. The general scope of the proposed urban renewal plan, as more specifically described therein, includes the following: Increasing the tax base and promoting economic growth in the City by encouraging economic development, constructing necessary public improvements and assisting private enterprise through tax increment financing incentives. The initial project to be undertaken under the plan will consist of providing tax increment financing support to a private developer in connection with the development of commercial real estate and the corresponding construction of improvements to Park Road, Oakdale Boulevard and Forevergreen Road necessary for such commercial development.