HomeMy WebLinkAbout2011-1148-12/19/2011This Resolution prepared by Carol Failor, Deputy City Clerk, 715
Mulberry Street, Waterloo, Iowa.
RESOLUTION NO. 2011-1148
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A DEVELOPMENT AGREEMENT BETWEEN
JSA DEVELOPMENT, LLC, AND THE CITY OF
WATERLOO, IOWA.
WHEREAS, JSA Development, LLC and its affiliates have and
will redevelop property in the Downtown Waterloo Urban Renewal
and Redevelopment Plan Area, and this redevelopment presents a
cohesive plan to the actual or proposed redevelopment of over 25
parcels in the central business district, and
WHEREAS, JSA Development, LLC and its affiliates have
contributed significantly to the economic vitality and viability
of Downtown and this vitality is necessary to fully leverage the
City's investment in public infrastructure, and
WHEREAS, JSA Development, LLC and its affiliates and the
City of Waterloo, Iowa, feel it is in the best interest of both
parties to execute a Development Agreement between the parties
regarding the development and use of said real estate as well as
other matters, and
WHEREAS, the City of Waterloo declares that this project
qualifies for incentives as authorized under Chapter 15A and
Chapter 403 in the Code of Iowa and the Downtown Waterloo Urban
Renewal and Redevelopment Plan, and
WHEREAS, the City Council of the City of Waterloo, Iowa, has
considered the Development Agreement, finds that the disbursement
of public funds for the purposes described in said agreement will
reasonably accomplish a public purpose, and deems it in the best
interest of the City of Waterloo, Iowa, to enter into said
Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that the Development Agreement between
JSA Development, LLC and the City of Waterloo, Iowa, a copy of
which is hereto attached, is hereby approved and the Mayor and
City Clerk are hereby authorized to execute said Agreement on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 19th day of December, 2011.
ATTEST:
Ernest G. Clark, Mayor
zy Sc ares, CMC
City Cl •' rk