HomeMy WebLinkAbout2011-864-9/6/2011 Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703 .
RESOLUTION NO. 2011-864
RESOLUTION AUTHORIZING ASSIGNMENT OF REBATES
TO PTL PROPERTIES, LLC AND SVW PROPERTIES,
L.C. FROM THE PRIOR DEVELOPMENT AGREEMENT
WITH PRSS PROPERTIES, LC FOR PROPERTY LOCATED
AT 3013-3015 GREYHOUND DRIVE.
WHEREAS, PRSS Properties, LC entered into a Development
Agreement with the City of Waterloo, Iowa for the construction of
a new professional office building in the Greyhound Park area,
located at 3013-3015 Greyhound Drive, and
WHEREAS, the developer was given tax rebates for the added
value of the project, and
WHEREAS, the property has been split into two office
condominiums and the Development Agreement will allow the new
owners, PTL Properties, LLC and SVW Properties, LC to receive the
tax rebates and that such assignment is eligible.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the Assignment of Rebates for property
located at 3013-3015 Greyhound Drive, be and the same is hereby
approved.
PASSED AND ADOPTED this 6th day of September 2011.
c% L%may
nest G. Clark, Mayor
ATTEST:
Suzy c ares, CMC
City lerk