HomeMy WebLinkAboutIowa Economic Development Board-4/4/2011February 18, 2011
Chris Western
City of Waterloo
715 Mulberry
Waterloo, IA 50703
NOTICE OF BOARD ACTION
RE: Iowa Brownfield Redevelopment Program Application
Award Date: February 17, 2011
Dear Mr. Western:
I am pleased to inform you that the Iowa Economic Development Board (Board) has reviewed your
application and intends to award the City of Waterloo a forgivable loan for $43,525 for your project in
Waterloo, Iowa. In a few weeks, our office will send you the necessary contract documents to finalize the
terms and conditions of your city's participation in this financial assistance award program. The contract
documents must be signed by your authorized representatives, and IDED. This Notice of Board Action is
subject to execution of a written contract. This Notice does not constitute the formation of a contract between
the Iowa Department of Economic Development (IDED) and the City of Waterloo. You do not acquire any
legal or equitable rights until a contract containing the terms and conditions acceptable to IDED has been
executed. Incurring costs related to this Project before a contract is signed is a risk analysis decision for the
City of Waterloo. Until a contract is executed, IDED has no obligation to authorize benefits for allowable
Project costs. If a contract is not signed, those costs will not be. reimbursed by IDED. If a contract is
executed, 1DED's standard contract language permits expenditures as of the Award Date stated in this letter
to be eligible Project costs.
The Iowa Department of Economic Development looks forward to working with the City of Waterloo on this
important economic development project. We are very pleased that you have chosen to make such a
significant investment in Iowa. Should you have any questions regarding this award, please contact your
project manager, Matt Rasmussen at 515-725-3126.
Sincerely,
Deborah V. Durham
Director
DVD/mr
cc: Senator William Dotzler
Senator Jeff Danielson
Representative Deborah Berry
Representative Walt Rogers
Representative Anesa Kajtazovic
Mayor Ernest G. Clark
Terry E. Branstad, Governor IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT Kiim Reynolds, Lieutenant Governor
Debi V. Durham, Director c 200 East Grand Avenue, Des Moines, lova USA 50309 c Phone: 515.725.3000 c Fax 5153252010 c www.iowalifechanging.com
Please have an authorized representative sign this page and return it to the IDED if you intend
to accept this Award.
The City of Waterloo. Iowa acting by and through its duly authorized officers, hereby accepts the award
described in this letter (Award), acknowledges that receipt of this Award is contingent upon the
satisfaction of all conditions of the Redevelopment Program, the availability of funds to IDED with
respect to the Award, and the execution of the contract; and agrees to be bound by all program
requirements of the Iowa Redevelopment Program and the contract that may be executed by the parties
with respect to this Award.
The Ci o, Waterloo Iowa:
By: ./(4-4
Name:
Title
5-4- (• c10.X'k_
Terry E. Branstad, Governor
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT Kim Reynolds, UeutenantGovernor
Debi V. Durham, Director . 200 East Grand Avenue, Des Moines, Iowa USA 50309 c Phone: 515.725.3000 c Fax: 515.725.3010E wwwiowalifechanging.com