City Ordinances: Chapters 9-11

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CHAPTER 9: ECONOMIC DEVELOPMENT PROPERTY TAX EXEMPTION

PURPOSE. The purpose of this chapter is to provide for a property tax exemption for shell buildings constructed by community development organizations, not-for-profit cooperative associations under Chapter 499 of the Code of Iowa, or for-profit entities for speculative purposes in accordance with Section 427.1 of the Code of Iowa.

DEFINITIONS. For use in this chapter the following terms are defined:

“Community development organization” means a City organization or a multi-community group formed for one or more of the following purposes:

  1. To promote, stimulate, develop, and advance the business prosperity and economic welfare of the community, area, or region and its citizens.
  2. To encourage and assist the location of new business and industry.
  3. To rehabilitate and assist existing business and industry.
  4. To stimulate and assist in the expansion of business activity.

For purposes of this definition, a community development organization must have at least fifteen (15) members with representation from the government at the level or levels corresponding to the community development organization’s area of operation; a private sector lending institution; a community organization in the area; business in the area; and private citizens in the community, area, or region.

  1. “New construction” means new buildings or structures and includes new buildings or structures that are constructed as additions to existing buildings or structures. “New construction” also includes reconstruction or renovation of an existing building or structure that constitutes complete replacement of an existing building or structure or refitting of an existing building or structure, if the reconstruction or renovation of the existing building or structure is required due to economic obsolescence, if the reconstruction or renovation is necessary to implement recognized industry standards for the manufacturing or processing of products, and the reconstruction or renovation is required in order to competitively manufacture or process products or for community development organizations, not-for-profit cooperative associations under Chapter 499 of the Code of Iowa, or for-profit entities to market a building or structure as a speculative shell building, which determination must receive prior approval from the Council.
  2. “Speculative shell building” means a building or structure owned and constructed or reconstructed by a community development organization, a not-for-profit cooperative association under Chapter 499 of the Code of Iowa, or a for-profit entity without a tenant or buyer for the purpose of attracting an employer or user that will complete the building to the employer’s or user’s specification for manufacturing, processing, or warehousing the employer’s or user’s product line.

ELIGIBILITY. The new construction of shell buildings by the community development organization, not-for-profit cooperative association under Chapter 499 of the Code of Iowa, or for-profit entity for speculative purposes is eligible for property tax exemption. The exemption shall be for one of the following:

  1. The value added by new construction of a shell building or addition to an existing building or structure.
  2. The value of an existing building being reconstructed or renovated, and the value of the land on which the building is located, if the reconstruction or renovation constitutes complete replacement or refitting of the existing building or structure.

WHEN EFFECTIVE.

  1. If the exemption is for a project described in subsection 1 of Section 9.03, the exemption shall be effective for the assessment year in which the building is first assessed for property taxation or the assessment year in which the addition to an existing building first adds value. If the exemption is for a project described in subsection 2 of Section 9.03, the exemption shall be effective for the assessment year following the assessment year in which the project commences. An exemption allowed under this section shall be allowed for all subsequent years until the property is leased or sold or until the exemption is terminated by ordinance of the City Council.
  2. Eligibility for an exemption as a speculative shell building shall be determined as of January 1 of the assessment year. However, an exemption shall not be granted for a speculative shell building of a not-for-profit cooperative association under Chapter 499 of the Code of Iowa or a for-profit entity if the building is used by the cooperative association or for-profit entity or a subsidiary or majority owners thereof for other than as a speculative shell building. If the shell building or any portion of the shell building is leased or sold, the portion of the shell building that is leased or sold and a proportionate share of the land on which it is located, if applicable, shall not be entitled to an exemption under this section for subsequent years. Upon the sale of the shell building, the shell building shall be considered new construction for purposes of Section 427B.1 of the Code of Iowa if used for purposes set forth in Section 427B.1.

APPLICATION.

  1. If the speculative shell building project is a project described in subsection 1 of Section 9.03, an application shall be filed pursuant to Section 427B.4 of the Code of Iowa.
  2. If the speculative shell building project is a project described in subsection 2 of Section 9.03, an application shall be filed pursuant to Section 427.1(27) of the Code of Iowa.

 

CHAPTER 10: URBAN RENEWEL

EDITOR’S NOTE

The following ordinances not codified herein, and specifically saved from repeal, have been adopted and provide for Urban Renewal Areas in the City and remain in full force and effect, for division of tax levied on taxable property.

ORDINANCE NO.

ADOPTED

NAME OF AREA

November 6, 1989

Rock Valley Urban Renewal Area

228

October, 1991

Rock Valley Urban Renewal Project Area

320

July 8, 2002

Amended Rock Valley Urban Renewal Project Area

321

July 8, 2002

Back Nine Urban Renewal Project Area

322

July 8, 2002

Rock Mills Urban Renewal Project Area

323

July 8, 2002

Westview Business Park Urban Renewal Project Area

332

January 20, 2003

Rock Valley Urban Renewal Project Area

333

January 20, 2003

Back Nine Urban Renewal Project Area

334

January 20, 2003

Rock Mills Urban Renewal Project Area

335

January 20, 2003

Westview Business Park Urban Renewal Project Area

355

January 14, 2006

Amended Westview Business Park Urban Renewal Project Area

400-10

November 4, 2010

Rock Ridge Urban Renewal Area

 

CHAPTER 11: URBAN REVITALIZATION

11.01   DESIGNATION OF REVITALIZATION AREA.  In accordance with Chapter 404 of the Code of Iowa (the “Act”), the area described as:

Lots 22, 23, 24, 25, 26, 27, and 28 in the East Meadow Second Addition, in the incorporated City of Rock Valley, Sioux County, State of Iowa

is hereby designated as an Urban Revitalization Area under the Act, which area shall be known as the East Meadow Multi-Residential Urban Revitalization Area of the City.

11.02   AMENDMENT NO. 1 TO EAST MEADOW MULTIRESIDENTIAL URBAN REVITALIZATION PLAN.  That in accordance with Chapter 404 of the Code of Iowa, and in consideration of the restrictions set forth in the preamble hereof, the area described as follows:

Original Area
Lots 22, 23, 24, 25, 26, 27 and 28 in the East Meadow Second Addition, in the incorporated City of Rock Valley, Sioux County, State of Iowa

Amendment No. 1 Area
Outlot 1, East Meadows 2nd Addition, in the incorporated City of Rock Valley (Rock Valley Economic Development Corp.)
Lot 14, East Meadows 2nd Addition, in the incorporated City of Rock Valley (Vander Berg Apartments, LLC)
Lot 15, East Meadows 2nd Addition, in the incorporated City of Rock Valley (JD Apartments, LLC)
Lot 16, East Meadows 2nd Addition, in the incorporated City of Rock Valley (VB&B Development, LLC)
Lot 17, East Meadows 2nd Addition, in the incorporated City of Rock Valley (VB&B Development, LLC)
Lot 18, East Meadows 2nd Addition, in the incorporated City of Rock Valley (VB&B Development, LLC)
Lot 19, East Meadows 2nd Addition, in the incorporated City of Rock Valley (Rock Valley Economic Development Corp.) be and the same is hereby designated as a revitalization area under Chapter 404 of the Code of Iowa, known as the East Meadow Multiresidential Urban Revitalization Area, as amended.

(Ord. 449-15 – Jun. 18 Supp.)

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