HomeMy WebLinkAboutIowa Economic Development-12/19/2011IOWA ECONOMIC DEVELOPMENT AUTHORITY
200 East Grand Avenue 1 Des Moines, Iowa 50309 USA 1 Phone: 515.725.3000
iowaeconomicdevelopment.cora
December 5, 2011
The Honorable Jon T. Crews
Mayor
City of Cedar Falls
220 Clay Street
Cedar Falls, IA 50613
The Honorable Emest G. Clark
Mayor
City of Waterloo
715 Mulberry Street
Waterloo, IA 50703
Barbara Corson
President
H.W. Grout Trust
503 South Street
Waterloo, IA 50701
RECEIVED DEC.Q 8`2011
RE: Vision Iowa Contract Amendment — Cedar Valley River Renaissance Project
01 -VI -010
Dear Mayor Crews, Mayor Clark, and Ms. Corson:
On November 9, 2011 the Vision Iowa Board of Directors approved your request to
amend Agreement 01 -VI -010.
Enclosed please find a copy of amendment # 5 to the Vision Iowa contract 01 -VI -010
between the Vision Iowa Board and the City of Cedar Falls, the City of Waterloo, and
H.W. Grout Trust. Please obtain all appropriate signatures for this amendment, and
return it to me at the following address: 200 East Grand Avenue, Des Moines, Iowa
50309-1819. I will then have Chairwoman Reece sign the document and send you a
copy for your file.
Thank you for your work on this project. If you should have any questions or concerns,
please contact me at 515.725.3085, or by email at Jessica.ORiley@iowa.gov
Sincerely,
0 c
Jessica O'Riley
Vision lowa/CAT Program Manager
Governor Terry E. Branstad
L t. Governor Kim Reynolds 1 Director Debi V. Durham
Page 1 of 3
Amendment No. 5
Contract No. 01 -VI -010
PROGRAM:
CONTRACT NUMBER:
AMENDMENT NUMBER:
EFFECTIVE DATE:
AMENDMENT
Vision Iowa
01_-V1=010
5
November 9, 2011
THIS AMENDMENT is made by and between the VISION IOWA BOARD, (hereafter 'Board"), 200 East
Grand Avenue, Des Moines, Iowa 50309, an agency of the State of Iowa, and the City of Waterloo, 715
Mulberry Street,:Waterloo, IA 50703 and the 11.W. Grout Trust, 503 South Street, 'Waterloo, IA 5,0701 and
City of Cedar Falls,' 220. Clay Street, Cedar Falls, IA 50613 (hereafter "Contractor"),
Contractor, by correspondence dated October 6, 201. ,, requested that the contract be amended to
extend the project completion date. Contract Number 01 -VI -010 is hereby modified as follows:
GRANT AWARD AGREEMENT
VISION IOWA NUMBER: 01-V1-010
TOTAL AMOUNT OF GRANT: $9,500,000
RECIPIENTS: CITIES OF CEDAR FALLS AND
WATERLOO, IOWA AND THE:H W:GROUT>TRUST
PROJECT: "CEI)AR VALLEY RIVER RENAISSANCE" PROJECT
AGREEMENT EFFECTIVE DATE: July 13,200
PROJECT COMPLETION DATE: T`"-'' 3t 2009 ileee z,. z1T 2n,, June 30 2012
SEC4IUr i
ARTICLE 9
COVENANTS OF RECIPIENTS
9.7.1 AFFIRMATIVE COVENANTS. Until the terms of this Agreement are fulfilled, the Recipients
covenant to Vision Iowa that:
(a) PROJECT WORK. The Recipients shall complete their respective components of the Project
by December 31, 2009 Do bmribcr31, 2011 June 30,'2012. For the purposes of this section
"complete" means the Project is fully constructed and operational.
Page2of3
Amendment No. 5
Contract No. 01 -VI -010
ARTICLE 11
DEFAULT AND REMEDIES
11.2 EVENTS OF DEFAULT. Each of the following shall constitute an Event of Default under this
Agreement.
(c) FAILURE TO COMPLETE. If the Project, in the sole judgment of the Board, is not
completed by December 31, 2009 December 31, 2011 June 30, 2012. For the purposes of this
section "completed" means the Project is fully constructed and operational.
SECTION 2
Suspension of: Other.Fundint Requests. Until the- Recipients complete the Prosect and the Board verifies`the
Kv
Project expendrtures
r • The Ci *Waterloo shall not'subr» it to the Board. any new applhications for any fiinancial
assislan •
xr S F 4 4 } t
ih
ii TofWa erloo shall suspend
allpp.: licationsIfoi an. yflAan etatassistncert1`•;
thatare.
auric tl peii`ding` before :the Boar eluding but not =l rii odr to the Waterloo
orient Corporation / C a 1 ev portspleg uroiec Atiplication-number
X23)` '
iii Y; ;The B r i Ball not considFer any. Curren br tre applicatiohs om the sty o' erloo
for ani financra as rstan e, includrha ut not muted to fhe Waterloo ,De�ve o itnent
,,Corporalii n reetia#r Valley §iiiiiitIF protect (ApPlicahoii1iiium1er ii -ATL& i
SECTION 3
C lT 1V �ehni Fend A plications Permrtted Notwithst drn anvthingto the"conttars'. Section 2 o" this
Amendment shall mot ap i ,to any applications for CATtinarkcting funds unc er,Iowa Code sebtron3 X204(5)
(2 )'by tine �ityaf aerloo Furthermore the Board m consider current or•'htu a applrcat ons or CAT
markets funclsVnder Iowabodesection 15F.204-5): (2011) trust the titv_of \V crloo. •
Except as otherwise revised above, the terms, provisions, and conditions of Contract Number
01 -VI -010 remain unchanged and are in full force and effect:
FOR THE VISION IOWA BOARD:
Cathy Reece, Chairwoman Date
FOR THE CITY Of CEDAR FALLS:
7/7/ //
reWis, MaYor Date
Page 3 of 3
Amendment No. 5
Contract No. 01 -VI -010
FOR TJ4F CITY OF WATERLOO:
*I
Emest G. Clark, Mayor
FOR THE H.W. GROUT TRUST:
Barbara Corson, President
Date
Date