HomeMy WebLinkAboutR & S Commercial, LLC-11/24/2014CITY OF WATERLOO
Council Communication
City Council Meeting: November 24, 2014
Prepared: November 19, 2014
Dept. Head Signature: Noel Anderson, Community Planning & Development Director
# of Attachments: 1
SUBJECT: Adopt a resolution approving the Amendment to Development
Agreement for the R & S Commercial, LLC, adding $2,650 to City
responsibilities, and authorizing the Mayor and City Clerk to sign and full execute
any necessary documents.
Submitted by: Noel Anderson, Community Planning & Development Director
Recommended City Council Action: Resolution approving attached
amendment
Summary Statement: As you may recall, the City Council approved a
Development Agreement with SJ Construction for the development of city owned
lots for industrial development. In construction on the site, unknown
underground materials (concrete piping) were discovered. Under the agreement,
the City was responsible for demolition on the site to present it as a ready to build
site. This additional $2,650 will cover the additional cost to develop this site.
Given that we are building new construction in a brownfield area, this would be a
reasonable cost to help he development move ahead.
Expenditure Required: $2,650
Source of Funds: bond funds
Policy Issue: Economic Development within the City of Waterloo.
Alternative: NA
Background Information: The City of Waterloo is seeing many positive
projects in the former Rath area, including smaller industrial and commercial
projects, as well as the development of the Human Services Campus. This
agreement will help SJ Construction help add to that development.
Preparer
Information: Christopher S. Wendland, PO Box 596, Waterloo, Iowa 50704
Please return this copy to:
aty Clerk & Finance Dept.
715 Mulberry St.
Waterloo, IA 50703
(319) 234.5701
Name Address City
Phone
AMENDMENT TO DEVELOPMENT AGREEMENT
This Amendment to Development Agreement (the "Amendment") is entered into
as of --go7l{ , 2014 by and between R & S Commercial, LLC (the
"Company") and the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to a certain Development Agreement dated
November 25, 2013 and filed July 1, 2014 as Doc. No. 2015-00064 (the
"Agreement"), providing for Company's development of certain properties
on the terms set forth therein.
B. In undertaking the Project, Company has discovered underground
conditions on the Property that must be addressed, and City is willing to
cover the cost thereof on the terms set forth in this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. The parties have received a quote for removal of buried concrete and
conduit in the sum of $2,650.00. City agrees to remit payment of said sum to the
contractor following receipt of the contractor's invoice and confirmation from Company
that the work has been completed.
2. Except as modified herein, the Agreement shall continue unmodified in full
force and effect. Terms in this Amendment that are capitalized but not defined will
have the same meanings herein that are ascribed to them in the Agreement. The
Agreement and this Amendment shall inure to the benefit of and be binding upon the
parties and their respective successors and assigns.
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IN WITNESS WHEREOF, the parties have executed this Amendment to
Development Agreement by their duly authorized representatives as of the date first set
forth above.
CITY OF WATERLOO, IOWA
By: /��U
R & S COMMERCIAL, LLC
By:
`Ernest G. Clark, Mayor Steven J. Santomauro, Manager
Attest: Wog,
Suzy Schares, City Clerk
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