HomeMy WebLinkAboutRichard Brown-2/25/2010Preparer
Information: Noel Anderson 715 Mulberry Street Waterloo, IA 50703 319.291.4366
Individual's Name Street Address City
ADDENDUM
Phone
This addendum is signed and entered herein by both parties of the original letter of conditions
entered into in 2003, by and between Richard C. Brown, property owner, and the City of
Waterloo.
Whereas, Richard C. Brown, owner of property as legally described on the attached, and
generally described as the corner of West 11th and Jefferson Streets, is willing and able to
construct or cause to be constructed a new commercial building on the site, and
Whereas, the City of Waterloo has previously sold the property to Mr. Brown for the purpose of
development, and
Whereas, the City of Waterloo values the development and redevelopment of the Downtown
Waterloo TIF District, and
Now Therefore, the City of Waterloo and Richard C. Brown do hereby agree that the original
letter of conditions of 2003 does hereby amend Number Two to allow for a Principal Permitted
Use to be constructed on the property within 6 months of the approval of this amendment. Said
construction would then release the property owner from the reversion clause stated in the
original letter of conditions.
This addendum shall inure to the benefit of and be binding upon the successors and assigns of
the parties.
ATTEST:
By
Suzy a s, City Clerk
By:
HE CITY OF WATERLOO
Ernes G. Clark, Mayor
21CHAR9: BROWN
Richard t. Brown
ADDENDUM
This addendum is signed and entered herein by both parties of the original letter of
conditions entered into in 2003, by and between Richard C. Brown, property owner, and
the City of Waterloo.
Whereas, Richard C. Brown, owner of property at southwesterly comer of West 11th and
Jefferson Streets, is willing and able to construct or cause to be constructed a new
commercial building on the site, and
Whereas, the City of Waterloo has previously sold the property to Mr. Brown for the
purpose of development, and
Whereas, the City of Waterloo values the development and redevelopment of the
Downtown Waterloo TIF District, and
Now Therefore, the City of Waterloo and Richard C. Brown do hereby agree that the
original letter of conditions of 2003 does hereby amend Number Two to allow for a
Principal Permitted Use to be constructed on the property whining 6 months of the
approval of this amendment. Said construction would then release the property owner
from the reversion clause stated in the original letter of conditions.
This addendum shall inure to the benefit of and be binding upon the successors and
assigns of the parties.
ATTEST:
By:
Suzy Shares, City Clerk
By:
THE CITY OF WATERLOO
Earnest G. Clark, Mayor
RICHARD C. BROWN
By:
Richard C. Brown
STATE OF IOWA )
) ss.
COUNTY OF BLACK HAWK )
On this OZ'✓ day of , 2010, before me, a Notary
Public in and for the State of Iowa, personall, appeared Ernest G. Clark and
Suzy Shares, to me personally known, who being duly sworn, did say that they
are the Mayor and City Clerk, respectively, of the City of Waterloo, Iowa, a
municipal corporation, created and existing under the laws of the State of Iowa,
and that the seal affixed to the foregoing instrument is the seal of said municipal
corporation, and that said instrument was signed and sealed on behalf of said
municipal corporation by authority and resolution of its City Council, and said
Mayor and City Clerk acknowledged said instrument to be the free act and deed
of said municipal corporation by it and by the m volurlarily executed.
STATE OF IOWA )
) ss.
COUNTY OF BLACK HAWK )
Subscribed and sworn to before me on , 2010 by
Richard C. Brown as property owner.
Notary Public
-2010 02:48P FROM:PIETERS & PIETERS
1(319)827-6919
TO:13192771614
P.11'13
ABSTRACT COMPANY
#142
State of Iowa PATENT
to Dated Oct 1 1991
City of Waterloo, Iowa Filed Oct 10 1991
623 CLD 44
A parcel of land located in part of Lot 1 in Block 43 in the Original Plat on the.
west side of the Cedar River in the City of Waterloo, Black Hawk County, Iowa,
described as follows:
Beginning at the northwesterly corner of said Lot 1; thence S40°51}1W, 141.1 ft.
along the northwesterly ii<ne of said Lot 1; thence 548°53'E, 44.0 ft. along the
southwesterly line of said Lot 1; thence N43°58}'E, 15.5 ft.; thence N47°373'E, 98.7
ft.; thence N42°15'E, 28.6 ft.; thence N49°571'W, 57.2 ft. to the Point of Beginning,
containing 7249 sq. ft. more or less, sold in accordance with the provisions of the
statutes of the State of Iowa, and which sale has been duly approved by the Iowa
Department of Transportation, subject to the conditions of Sections 306.22, 306.23,
306.24, and 306.25, Code of Iowa.
Recites: City of Waterloo agrees that this land shall remain in public use.
City of Waterloo further agrees that if any of this property is subsequently sold, that
the property will be appraised by the Iowa Department of Transportation for the purpose
of establishing the fair market value at the time of the sale and that the Iowa
Department of Transportation will be entitled to the net sale proceeds for any amount
received above the original purchase price.
CITY OF WATERLOO
Council Communication
City Council Meeting: February 25, 2010
Prepared: February 24, 2010
Dept. Head Signature:
# of Attachments: 1
SUBJECT: Addendum to original letter of conditions from May 2003 for the
former sale of city -owned land at the southwesterly corner of Wes
zi,D11th Street and Jefferson Street.
Submitted by:
c�f
Noel Anderson, Community Planning & Development Director
Recommended City Council Action: Resolution approving addendum
Summary Statement: Mr. Brown is attempting to sell the parcel of land as described
for a new project. The previous sale of land from the City of Waterloo in 2003 put a
timeline on his development of the site. The previous agreement is now a cloud to clear
title of the current sale. The addendum is necessary to allow for sale and development
of the site. The addendum would still put a timeline for development on the site, to try
and spur new economic development within the City of Waterloo.
Expenditure Required: $0.00
Source of Funds: NA
Policy Issue: Economic Development within the City of Waterloo.
Alternative: NA
Background Information: The City of Waterloo sold the small parcel to be combined
with the larger parcels of land owned by Mr. Richard C. Brown. Mr. Brown was working
on development of the site with a potential commercial project. The sale included a
letter of conditions signed by Mr. Brown for the development of the site within 2 years,
or the land would revert back to the City of Waterloo, and Mr. Brown would be refunded
his purchase price of $7,250. That timeline was not met for development of the site.
Mr. Brown has been working for several years to develop the land, and has a company
ready to build on the site. Mr. Brown is requesting the addendum to allow for the
transfer of the land without any encumbrances in place. This addendum would still
require construction to begin within 6 months on the site or the reversion wording would
remain.
L3
The Honorable John R. Rooff, Mayor,
and City Council Members
City Hall
Waterloo, Iowa 50703
Dear Mayor and Council:
I, Richard C. Brown, agree to the following conditions to be placed upon the deed for the
City owned property at the comer of West nth Street and Jefferson Street for my
conveyance:
"This deed is transferred subject to the following conditions:
1. That Richard C. Brown pays $7,250.00 to the City of Waterloo for the transfer of
the property.
2. That Richard C. Brown construct or cause to be constructed a legal Principal
Permitted Use and building on the property, or in conjunction with other
abutting lots to the property, within two (2) years of his acquisition of the
property.
3. In the event that Richard C. Brown fails to construct or cause to be constructed
such a Principal Permitted Use and building on the property, or in conjunction
with other abutting lots to the property, the property will revert back to the City
of Waterloo's possession.
4. If such reversion occurs; Richard C. Brown will forfeit costs associated with
recording and publication of the transfer to the City of Waterloo and be
reimbursed $7,250.00. Richard C. Brown agrees to sign all necessary documents
for said reversion."
I understand and agree to the following conditions as noted above. I also understand the
City of Waterloo will remove the trees, at city expense, from the property by May 1, 2003.
Richard C. Brown Date
Printable Map Output
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Ms Copyright 2001 EgliInc. :4 .cFainismininessimi
Black Hawk County, Iowa
16 East 5th Street
terloo, Iowa 50703-4774
Phone: (319) 833-3002
Fax: (319) 833-3070
E-mail: -uditor • ..black-h-wk.ia.
.era
Map Disclaimer. This map does not represent a survey. No liability is assumed for the '
-ccuracy of the data delineated herein, either expressed or implied by Black Hawk County,
e Black Hawk County Assessor or their employees. This map is compiled from official
records, including plats, surveys, recorded deeds, and contracts, and only contains
information required for local govemment purposes. See the recorded documents for more
detailed le .al information.
http://www2.co.black-hawk.ia.us/servlet/com.esri.esrimap.Esrimap?ServiceName=bhov&... 1/12/2010