HomeMy WebLinkAbout2015-292-4/27/2015 Prepared by Suzy Schares, City Clerk, City of Waterloo, 715
Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2015-292
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH SAN MARNAN MANAGEMENT, LTD F/K/A VGM
MANAGEMENT, LTD OF WATERLOO, IOWA AND
DIRECTING EXECUTION OF SAID AGREEMENTS BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated April 27, 2014, for the
construction of a 73, 048 sq. ft . office expansion at the VGM
office complex on San Marnan Drive, adding $6. 5 million of
taxable value to the site, and offering a grant to purchase
property for $750, 000, vacating a portion of San Marnan excess
right-of-way in near future, and working for extension of Fitzway
and Galactic Drive connection, as well as 10 years at 75% tax
rebates; and authorize Mayor to execute said document .
PASSED AND ADOPTED this 27th day of April, 2015 .
Ernest G. Clark, Mayor
ATTEST:
Suzy Schres, CMC
City Cle k