HomeMy WebLinkAboutWillard Frost-5/10/2010CITY OF WATERLOO, IOWA
LEASE AGREEMENT `�
�p,�
for
CITY -OWNED PROPERTY �
This Agreement made and entered into this 6day of, 2010, by and between the City
of Waterloo, Iowa (hereinafter referred to as "City"), and December,
ecember 1. 20 0 (hereinafter referred to as "Lessee").
1.The City agrees to allow the Lessee to use and occupy City property generally located adjacent to Martin
Luther King Jr. Drive and Bishop Avenue in the Northeast Industrial Park, and legally described in Exhibit °A°
attached here to and made a part here of by this reference.
2.The City agreo allow the Lessee to use and occupy the aforementioned City property for a term
commencing on the Jday of May, 2010, and terminating on the 314 day of December. 2010. The Lessee
agrees to pay the City $3,790.40 ($92.00 per acre) per year for use 41.2 acres of said City property during said
term.
(e �
3.The City may terminate thls agreement upon thirty (30) days' written notice if the City needs the use of
said City property for its own purposes. As the applicant is using the land for crop production, the City would
need to reimburse the lessee for any crops in production at the time of termination.
Lessee may terminate this Agreement upon thirty (30) days' written notice to the Waterloo
Community, Planning, and Development Department. The full amount of the payment is due, and no annual
amount would be refunded if termination were to occur within the lease period.
4. In consideration of the extension of this Agreement to the Lessee, Lessee hereby agrees to indemnify
and hold the City harmless for any and all liability, claims, actions, causes or action, and/or damages which may
arise or allegedly arise out of Lessee's use of the aforementioned City property, either to the City's property, or to
any other person who may claim injury by and/or through, as a result of the alleged activity on City's property as
aforesaid. Lessee further agrees to indemnify and hold the City harmless for any and all damages or injury, which
may occur to Lessee's livestock as a result of the alleged activity on City's property as aforesaid. Lessee further
aggress to indemnify and hold the City harmless for any and all damages or injury which may occur to Lessee's
livestock as a result or consequence of the use of the City property.
5. This agreement contains the entire Agreement between the parties. None of the covenants, provisions,
terms or conditions of this Agreement will be in any manner modified, waived, or abandoned, except by written
instrument duly signed by both parties and delivered to the City and the Lessee. This occupancy agreement and
the terms and conditions herein apply and are binding on the legal representative, and successors and assigns of
both parties.
EXECUTED THIS DAY OF „a' , 2010
CITY OF WATERLO ,� ,� LESSEE
APPROVED BY:
ATTEST: 7 --
(Mayor) 6-0-e-*
(Mayor)* Willard Frost
'\ (City Clerk) -,I
CITY'S ACKNOWLEDGMENT
STATE OF IOWA, jkeit- kirvw, COUNTY, SS:
On this day of , AD 2010, before me, the undersigned, a Notary Public
1p.and for said County, in said State, peis9nally appeared
"���� �� •
Clea -rig- and Ju v °ice' S to me personally known, who, before by me
duly sworn, did say that they are the MAYOR and CITY CLERK, respectively, of said City executing the within
and foregoing instrument to which this is attached, that the seal affixed thereto is the seal of said City; that said
instrument was signed and sealed on behalf of said City by authority of it's City Council; and that the said MAYOR
and CITY CLERK, acknowledged the execution of said instrument to be the voluntary act and deed of said City,
by it and by them voluntarily executed. ._� 1
Notary P blic in and for said Coun
Legal Descriptions
NW NW EXC W 194.4 FT N 1326.4 FT SEC 20 T 89 R 12 AND EXC THAT PART CONTAINED
IN THE FOL DESC:COM AT THE SW COR OF THE NW 1/4 OF SAID SEC 20 TH NW ON THE
W LINE OF THE NW 1/4 OF SAID SEC 20 A DIST OF 752.25 FT TO THE PT OF BEG OF THE
PARCEL HEREIN DESC:TH S 64 DEG 22 MIN 45 SEC W A DIST OF 32.86 FT TO THE E LINE
OF BLK 50 OF "CITY VIEW HEIGHTS"(ALSO KNOWN AS THE W LINE OF THE E 1.81 A OF
THE NE 1/4 OF SAID SEC 19)TH NW ON THE E LINE OF BLKS 50 & 51 IN "CITY VIEW
HEIGHTS" A DIST OF 586.87 FT TO THE N LINE OF THE SE 1/4 OF THE NE 1/4 OF SAID
SEC 19 TH N 88 DEG 45 MIN 31 SEC E ON THEN LINE OF THE SE NE OF SAID SEC 19 A
DIST OF 29.87 FT TO THE SW COR OF THE NW NW OF SAID SEC 20 TH N 89 DEG 37 MIN
19 SEC E ON THE S LINE OF THE NW NW OF SAID SEC 20 A DIST OF 194.41 FT TH NW
PARALLEL WITH THE W LINE OF THE NW 1/4 OF SAID SEC 20 (ON A LINE WHICH IS ALSO
KNOWN AS THE E LINE OF THE W 194.4 FT OF THE NW NW OF SAID SEC 20) A DIST OF
100 FT TH N 89 DEG 37 MIN 19 SEC E A DIST OF 250 FT TH SE A DIST OF 438.54 FT TH
SWLY ON A 1039.93 FT RADIUS CURVE CONCAVE SELY AND HAVING A 6.39 FT LONG
CHORD BEARING S 54 DEG 59 MIN 7 SEC W A DIST OF 6.39 FT (ARC LENGTH) TH S 54
DEG 48 MIN 42 SEC W A DIST OF 137.26 FT TH S 64 DEG 22 MIN 45 SEC W A DIST OF
358.21 FT TO THE PT OF BEG
And also:
SW NW SEC 20 T 89 R 12 EXC THAT PART CONTAINED IN THE FOL DESC: COM AT THE
SW COR OF THE NW 1/4 OF SAID SEC 20 TH NW ON THE W LINE OF THE NW 1/4 OF SAID
SEC 20 A DIST OF 752.25 FT TO THE PT OF BEG OF THE PARCEL HEREIN DESC:TH S 64
DEG 22 MIN 45 SEC W A DIST OF 32.86 FT TO THE E LINE OF BLK 50 OF "CITY VIEW
HEIGHTS"(ALSO KNOWN AS THE W LINE OF THE E 1.81 A OF THE NE 1/4 OF SAID SEC 19)
TH NW ON THE E LINE OF BLKS 50 & 51 IN "CITY VIEW HEIGHTS" A DIST OF 586.87 FT TO
THEN LINE OF THESE 1/4 OF THE NE 1/4 OF SAID SEC 19 TH N 88 DEG 45 MIN 31 SEC E
ON THE N LINE OF THE SE NE OF SAID SEC 19 A DIST OF 29.87 FT TO THE SW COR OF
THE NW NW OF SAID SEC 20 TH N 89 DEG 37 MIN 19 SEC E ON THE S LINE OF THE NW
NW OF SAID SEC 20 A DIST OF 194.41 FT TH NW PARALLEL WITH THE W LINE OF THE
NW 1/4 OF SAID SEC 20 (ON A LINE WHICH IS ALSO KNOWN AS THE E LINE OF THE W
194.4 FT OF THE NW NW OF SAID SEC 20) A DIST OF 100 FT TH N 89 DEG 37 MIN 19 SEC
E A DIST OF 250 FT TH SE A DIST OF 438.54 FT TH SWLY ON A 1039.93 FT RADIUS CURVE
CONCAVE SELY AND HAVING A 6.39 FT LONG CHORD BEARING S 54 DEG 59 MIN 7 SEC
W A DIST OF 6.39 FT (ARC LENGTH) TH S 54 DEG 48 MIN 42 SEC W A DIST OF 137.26 FT
TH S 64 DEG 22 MIN 45 SEC W A DIST OF 358.21 FT TO THE PT OF BEG ALSO EXC A
PARCEL OF LAND DESC AS FOL:COM AT THE SW COR OF THE NW 1/4 OF SAID SEC 20
TH N 89 DEG 36 MIN 44 SEC E ON THE S LINE OF THE NW 1/4 OF SAID SEC 20 A DIST OF
695.04 FT TO THE PT OF BEG OF THE PARCEL HEREIN DESC: TH N 27 DEG 34 MIN 29
SEC W A DIST OF 781.73 FT TH N 49 DEG 59 MIN 2 SEC E A DIST OF 52.06 FT TH N 33
DEG 01 MIN 07 SEC E A DIST OF 53.87 FT TH N 54 DEG 48 MIN 42 SEC E A DIST OF 137.24
FT TH ELY ON AN 879.93 FT RADIUS CURVE CONCAVE SLY AND HAVING A 57.92 FT
LONG CHORD BEARING N 56 DEG 41 MIN 52 SEC E A DIST OF 57.93 FT (ARC LENGTH) TH
N 73 DEG 27 MIN 39 SEC E A DIST OF 138.35 FT TH ELY ON AN 854.93 FT RADIUS CURVE
CONCAVE SLY AND HAVING A 605.57 FT LONG CHORD BEARING N 88 DEG 19 MIN 26
SEC E A DIST OF 619 FT (ARC LENGTH) TO THE E LINE OF THE SW NW OF SAID SEC 20
TH SE ON THE E LINE OF THE SW NW OF SAID SEC 20 A DIST OF 935.50 FT TO THE SE
COR OF THE SW NW OF SAID SEC 20 TH S 89 DEG 36 MIN 44 SEC W ON THE S LINE OF
THE NW 1/4 OF SAID SEC 20 A DIST OF 622.90 FT TO THE PT OF BEG & EXC A PARCEL
OF LAND DESC AS FOL: COM AT THE SW COR OF THE NW 1/4 OF SAID SEC 20 TH NW
ON THE W LINE OF THE NW 1/4 OF SAID SEC 20 A DIST OF 412.09 FT TO THE PT OF BEG
OF THE PARCEL HEREIN DESC TH S 49 DEG 59 MIN 2 SEC W A DIST OF 38.45 FT TO THE
E LINE OF BLK 49 "CITY VIEW HGTS"(ALSO KNOWN AS THE W LINE OF THE E 1.81 A OF
THE NE 1/4 OF SEC 19 )TH NW ON THE E LINE OF BLKS 49 & 50 "CITY VIEW HGTS" A DIST
OF 350.68 FT TH N 64 DEG 22 MIN 45 SEC E A DIST OF 391.07 FT TH N 54 DEG 48 MIN 42
SEC E A DIST OF 137.26 FT TH NELY ON A 1039.93 FT RADIUS CURVE CONCAVE SELY
AND HAVING A 231.28 FT LONG CHORD BEARING N 61 DEG 11 MIN 46 SEC E A DIST OF
231.76 FT (ARC LENGTH)
And also:
NE NW SEC 20 NW NE SEC 20 SW NE SEC 20 ALL IN T 89 R 12 EXC RDS AND EXC THAT
PART OF ABOVE DESC PLATTED TO NORTHEAST INDUSTRIAL PARK PLAT NO 1 & EXC
NORTHEAST INDUSTRIAL PARK PLAT NO 2 ALSO EXC THAT PART CONTAINED IN THE
FOL DESC: COM AT THE SE COR OF THE NE 1/4 OF SAID SEC 20 TH S 89 DEG 36 MIN 44
SEC W ON THE S LINE OF THE NE 1/4 OF SAID SEC 20 A DIST OF 2056.71 FT TO THE PT
OF BEG OF THE PARCEL HEREIN DESC:TH SE A DIST OF 164.33 FT TH S 7 DEG 45 MIN 10
SEC W A DIST OF 130.45 FT TO THE PRESENT NLY ROW LINE OF THE UNION PACIFIC RR
TH SWLY ON THE PRESENT NLY ROW LINE OF THE UNION PACIFIC RR ON A 2764.93 FT
RADIUS CURVE CONCAVE NWLY AND HAVING A 153.31 FT LONG CHORD BEARING S 77
DEG 37 SEC W A DIST OF 153.33 FT (ARC LENGTH) TH N 5 DEG 14 MIN 40 SEC W A DIST
OF 411.68 FT TH NWA DIST OF 257.18 FT TH S 84 DEG 51 MIN 27 SEC W A DIST OF 141.69
FT TH NWLY ON A 1373.24 FT RADIUS CURVE CONCAVE NWLY AND HAVING AN 829.47
FT LONG CHORD BEARING N 77 DEG 33 MIN 50 SEC W A DIST OF 842.62 FT (ARC
LENGTH) TH N 59 DEG 59 MIN 8 SEC W A DIST OF 273.11 FT TH S 30 DEG 52 SEC W A
DIST OF 15 FT TH N 59 DEG 59 MIN 8 SEC W A DIST OF 200 FT TH N 30 DEG 52 SEC E A
DIST OF 15 FT TH N 59 DEG 59 MIN 8 SEC W A DIST OF 226.97 FT TH NWLY ON AN 854.93
FT RADIUS CURVE CONCAVE SWLY AND HAVING A 162.28 FT LONG CHORD BEARING N
65 DEG 29 MIN 17 SEC W A DIST OF 162.53 FT (ARC LENGTH) TO THE W LINE OF THE SE
NW OF SAID SEC 20 TH NW ON THE W LINE OF THE SE NW OF SAID SEC A DIST OF
231.15 FT TH SELY ON A 1074.93 FT RADIUS CURVE CONCAVE SWLY AND HAVING A
285.68 FT LONG CHORD BEARING S 67 DEG 32 MIN 26 SEC E A DIST OF 286.53 FT (ARC
LENGTH) TH S 59 DEG 59 MIN 8 SEC E A DIST OF 224.55 FT TH N 30 DEG 52 SEC E A DIST
OF 15 FT TH S 59 DEG 59 MIN 8 SEC E A DIST OF 200 FT TH S 30 DEG 52 SEC W A DIST
OF 5 FT TH S 59 DEG 59 MIN 8 SEC E A DIST OF 273.12 FT TH SELY ON A 1143.24 FT
RADIUS CURVE CONCAVE NELY AND HAVING A 690.55 FT LONG CHORD BEARING S 77
DEG 33 MIN 50 SEC E A DIST OF 701.50 FT (ARC LENGTH) TH N 84 DEG 51 MIN 27 SEC E
A DIST OF 188.15 FT TH NWA DIST OF 75.01 FT TH N 12 DEG 7 MIN 5 SEC E A DIST OF
132.29 FT TO THE PRESENT WLY ROW LINE OF NE DR AS PLATTED IN NE INDUSTRIAL
PARK PLAT NO 1 TH SE ON THE PRESENT WLY ROW LINE OF NORTHEAST DR A DIST OF
575.38 FT TO THE WLY EXT OF THE S LINE OF LOT 9 NE INDUSTRIAL PARK PLAT NO 1 TH
N 88 DEG 50 MIN 11 SEC E ON THE S LINE OF SAID LOT 9 AND ITS EXT A DIST OF 80 FT
TO THE SW COR OF SAID LOT 9 TH CONT N 88 DEG 50 MIN 11 SEC E ON THE S LINE OF
SAID LOT 9 A DIST OF 59.88 FT TH SE A DIST OF 204.25 FT TO THE PT OF BEG EXC THAT
PART PLATTED AS NORTHEAST INDUSTRIAL PARK PLAT NO 3 ALSO EXC THAT PART OF
THE ABOVE DESC PARCEL CONTAINED IN THE FOL DESC REC IN DOC 2005 020741 SAID
PARCEL KNOWN AS PARCEL G AND EXC PARCEL D REC 2006-28192
And also:
NORTHEAST INDUSTRIAL PARK PLAT 1 LOT 4
And also:
NORTHEAST INDUSTRIAL PARK PLAT NO 3 LOT 14
NORTHEAST INDUSTRIAL PARK PLAT NO 3 LOT 15
NORTHEAST INDUSTRIAL PARK PLAT NO 3 LOT 16
And also:
A PART OF THE NE 1/4 NW 1/4 SW 1/4 OF SEC 20 T 89 R 12 DESC AS PARCEL "G" BEG AT
THE INTERSECTION OF THE SLY ROW LINE OF MLK JR DR AND THE W ROW LINE OF
BISHOP AV TH S 84 DEG 52 MIN 45 SEC W ALONG THE SLY ROW LINE OF MLK JR DR
141.78 FT TH WLY ALONG A CURVE CONCAVE NLY HAVING A RADIUS OF 1373.24 FT AND
A LONG CHORD BEARING N 77 DEG 33 MIN 50 SEC W 842.59 FT TH N 59 DEG 59 MIN 13
SEC W ALONG THE SLY ROW LINE OF MLK JR DR 103.07 FT TO THE W LINE OF THE SE
1/4 SE 1/4 NW 1/4 OF SAID SEC 20 TH S 1 DEG 50 SEC E ALONG THE W LINE OF THE SE
1/4 SE 1/4 NW 1/4 OF SAID SEC 20 562.73 FT TO THE S LINE OF THE NW 1/4 OF SAID SEC
20 TH S 1 DEG 12 MIN 24 SEC E ALONG THE W LINE OF THE NE 1/4 NE 1/4 SW 1/4 OF
SAID SEC 20 578.33 FT TO THE NLY ROW LINE OF THE UNION PACIFIC RR TH N 79 DEG 3
MIN 7 SEC E ALONG SAID NLY RR ROW 1030.13 FT TH N 10 DEG 56 MIN 53 SEC W ALONG
SAID RR ROW 50 FT TH N 79 DEG 3 MIN 7 SEC E ALONG SAID RR ROW 34.90 FT TH NELY
ALONG SAID RR ROW ON A CURVE CONCAVE NLY HAVING A RADIUS OF 2764.93 FT A
DIST OF 25.06 FT TO THE W ROW LINE OF BISHOP AV TH N 5 DEG 14 MIN 40 SEC W
ALONG SAID W ROW LINE 411.68 FT TH N 1 DEG 3 MIN 57 SEC W ALONG SAID W ROW
LINE 257.18 FT TO THE PT OF BEG
And also:
N 1/2 NW SE EXC RR & EXC THAT PT S OF RR SEC 20 T 89 R 12 ALSO EXC THAT PART
CONTAINED IN THE FOL DESC:COM AT THE SE COR OF THE NE 1/4 OF SAID SEC 20 TH S
89 DEG 36 MIN 44 SEC W ON THE S LINE OF THE NE 1/4 OF SAID SEC 20 A DIST OF
2056.71 FT TO THE PT OF BEG OF THE PARCEL HEREIN DESC: TH SE A DIST OF 164.33
FT TH S 7 DEG 45 MIN 10 SEC W A DIST OF 130.45 FT TO THE PRESENT NLY ROW LINE
OF THE UNION PACIFIC RR TH SWLY ON THE PRESENT NLY ROW LINE OF THE UNION
PACIFIC RR ON A 2764.93 FT RADIUS CURVE CONCAVE NWLY AND HAVING A 153.31 FT
LONG CHORD BEARING S 77 DEG 37 SEC W A DIST OF 153.33 FT (ARC LENGTH) TH N 5
DEG 14 MIN 40 SEC W A DIST OF 411.68 FT TH NW A DIST OF 257.18 FT TH S 84 DEG 51
MIN 27 SEC W A DIST OF 141.69 FT TH NWLY ON A 1373.24 FT RADIUS CURVE CONCAVE
NWLY AND HAVING AN 829.47 FT LONG CHORD BEARING N 77 DEG 33 MIN 50 SEC W A
DIST OF 842.62 FT (ARC LENGTH) TH N 59 DEG 59 MIN 8 SEC W A DIST OF 273.11 FT TH S
30 DEG 52 SEC W A DIST OF 15 FT TH N 59 DEG 59 MIN 8 SEC W A DIST OF 200 FT TH N
30 DEG 52 SEC E A DIST OF 15 FT TH N 59 DEG 59 MIN 8 SEC W A DIST OF 226.97 FT TH
NWLY ON AN 854.93 FT RADIUS CURVE CONCAVE SWLY AND HAVING A 162.28 FT LONG
CHORD BEARING N 65 DEG 29 MIN 17 SEC W A DIST OF 162.53 FT (ARC LENGTH) TO THE
W LINE OF THE SE NW OF SAID SEC 20 TH NW ON THE W LINE OF THE SE NW OF SAID
SEC A DIST OF 231.15 FT TH SELY ON A 1074.93 FT RADIUS CURVE CONCAVE SWLY AND
HAVING A 285.68 FT LONG CHORD BEARING S 67 DEG 32 MIN 26 SEC E A DIST OF 286.53
FT (ARC LENGTH) TH S 59 DEG 59 MIN 8 SEC E A DIST OF 224.55 FT TH N 30 DEG 52 SEC
E A DIST OF 15 FT TH S 59 DEG 59 MIN 8 SEC E A DIST OF 200 FT TH S 30 DEG 52 SEC W
A DIST OF 5 FT TH S 59 DEG 59 MIN 8 SEC E A DIST OF 273.12 FT TH SELY ON A 1143.24
FT RADIUS CURVE CONCAVE NELY AND HAVING A 690.55 FT LONG CHORD BEARING S
77 DEG 33 MIN 50 SEC E A DIST OF 701.50 FT (ARC LENGTH) TH N 84 DEG 51 MIN 27 SEC
E A DIST OF 188.15 FT TH NWA DIST OF 75.01 FT TH N 12 DEG 7 MIN 5 SEC E A DIST OF
132.29 FT TO THE PRESENT WLY ROW LINE OF NE DR AS PLATTED IN NE INDUSTRIAL
PARK PLAT NO 1 TH SE ON THE PRESENT WLY ROW LINE OF NORTHEAST DR A DIST OF
575.38 FT TO THE WLY EXT OF THE S LINE OF LOT 9 NE INDUSTRIAL PARK PLAT NO 1 TH
N 88 DEG 50 MIN 11 SEC E ON THE S LINE OF SAID LOT 9 AND ITS EXT A DIST OF 80 FT
TO THE SW COR OF SAID LOT 9 TH CONT N 88 DEG 50 MIN 11 SEC E ON THE S LINE OF
SAID LOT 9 A DIST OF 59.88 FT TH SE A DIST OF 204.25 FT TO THE PT OF BEG ALSO EXC
THAT PART OF ABOVE DESC PARCEL WHICH LIES IN PARCEL "G" DESC IN 2005-18598
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Cash Rental Rates for Iowa
2009 Survey
Ag Decision Maker
File C2-10
he cash rental rates presented in this publication
are the result of a survey of farmers, landowners,
agricultural lenders, real estate brokers, and profes-
sional farm managers. They supplied information based
on their best judgments about typical cash rental rates for
high, medium, and low quality cropland in their counties,
as well as for land devoted to hay production, oats, and
pasture. Information about individual parcels of land was
not collected.
The cooperation and assistance of the landowners,
farmers, and agribusiness people who responded to this
survey are greatly appreciated. The distribution of the
1,271 responses was 39% farmers, 27% landowners, 11%
professional managers, 15% lenders, and 9% other profes-
sions.
Responses received in 2009 were again more variable
than in previous years. This variability is likely due to the
volatility of corn and soybean prices in the past few years
and led to a wide range of opinions about typical rents in
some counties.
The rental rates summarized in this bulletin do not reflect
the value of any buildings or storage structures, manure
application contracts, or seed production contracts. Coun-
ties were grouped into areas as shown on the map below.
Circumstances such as the following may justify a higher
or lower rent in specific cases:
• Small size or unusual shape of fields
• Presence of terraces or creeks that affect the time it takes
to plant and harvest
• Difficult or restricted access to fields
• High or low fertility levels or Ph index
• Existence of contracts for growing seed or specialty
grains, or application of manure
• Above average local grain prices due to proximity to
biofuel plants or feed mills
• USDA program variables, such as crop bases and as-
signed yields
• Longevity of the lease
• Other services performed by the tenant
Additional information about cash rental rates by county
is available from the National Agricultural Statistics
Service (NASS) of the USDA. Rental rates quoted in the
NASS survey are for the previous crop year, and are aver-
ages for all cropland and pasture.
Q+etala Dickenson Emma
Area 1
o'&icn Cla.
Plymouth Cherokee
Area 5 ""°""°
Palo Mut
Pocahontas
Kossolb
Winnebago Worth
Haaso:k Area 3
Cerro G+do Ek d
Humboldt
Area 2
Wright
Cl ckaao
Area 4
Fayette Ck, ,on
Store Marshall
Area 7
Fremont
FM 1851 Revised May 2009
IOWA STATE UNIVERSITY
University Extension
Cash Rental Rates for Iowa - 2009 Survey Page 9
2009 CASH RENTAL SURVEY FOR AREA 8
Area
County Average Benton Hawk Buchanan Iowa ohnson Linn Poweshiek Tama
Number of responses 99 9 7 13 10 8 18 17 17
2004 - 2008 Avg. Com Yield 173 174 177 173 172 163 170 180 179
2004 - 2008 Avg. Soybean Yield 51 52 52 50 51 48 49 54 54
Avg. Row Crop CSR Index 82 81 80 80 78 86 83 84 86
Typical Cash Rent for Corn and Soybeans. $ per acre
Overall average $192 $185 $221 $186 $203 $175 $198 $186 $186
High quality third
Average response $227 $215 $262 $218 $236 $214 $234 $221 $218
Range of responses
Medium quality third
Average response
Range of responses
*11.3wilut�ii
Average response $158 $153 $180 $153 $166 $145 $159 $152 $153
Range of responses 130 - 180 100 - 250 10 - 200 130 - 220 70 - 180 125 - 210 100 - 200 120 - 195
175 - 280 170 - 350 190 - 250 210 - 285 140 - 280 165 - 350 150 - 275 170 - 280
$192 $188 $222 $188 $206 $165 $200 $183 $188
150 - 250 160 - 275 160 - 220 175 - 265 97 - 200 160 - 240 120 - 220 150 - 250
Typical Corn Yield, bu. per acre
High third 190 194 198 190 185 180 185 192 195
Middle third 169 176 178 170 167 152 164 174 173
Low third 137 140 145 137 143 119 130 147 137
Average Rents per 5 Year Average Yield or CSR,
Rent per bu. of com yld $1.11 $1.06 $1.25 $1.08 $1.17 $1.07 $1.16 $1.03 $1.04
Rent per bu. of soybean yld $3.77 $3.55 $4.24 $3.75 $3.98 $3.66 $4.05 $3.45 $3.46
Rent per CSR index point $2.35 $2.28 $2.77 $2.34 $2.60 $2.02 $2.39 $2.20 $2.18
Typical Cash Rent for Oats. Hay. and Pasture. $ per acre
Alfalfa hay, established $131 $144 $101
Grass hay, established $107 $121
Oats $115 $133
Improved permanent pasture $62 $55 $56 $73
Unimproved permanent pasture $43 $37 $43 $47
Pasture, $/AUM NA
Cornstalk grazing $8
Mayor
BUCK
CLARK
COUNCIL
MEMBERS
DAVID
JONES
Ward 1
CAROLYN
COLE
Ward 2
HAROLD
GETTY
Ward 3
QUENTIN M.
HART
Ward 4
RON
WELPER
Ward 5
BOB
GREENWOOD
At -Large
STEVE
SCHMITT
At -Large
CITY OF WATERLOO, IOWA
COMMUNITY PLANNING AND DEVELOPMENT
715 Mulberry Street • Waterloo, IA 50703 • (319) 291-4366 Fax (319) 291-4262
NOEL C. ANDERSON, Community Planning & Development Director
CITY OF WATERLOO
Council Communication
City Council Meeting: May 10, 2010
Prepared: May 4, 2010
Dept. Head Signature: Noel Anderson, Community Planning & Development Directo
# of Attachments: 7
SUBJECT: 1 year lease agreement with Willard Frost in the amount of
$3,790.40 to farm approximately 41.2 acres of land located in and near the Northeast
Industrial Park.
Submitted by: Noel Anderson, Community Planning and Development Director
Recommended City Council Action: Approval
Summary Statement: Transmitted herewith is the request that the City of Waterloo
approve a lease agreement with Willard Frost to farm approximately 41.2 acres of land (see
attached legal descriptions and map) on farm ground north, south and west of the
Northeast Industrial Park along Newell Street, MLK Jr. Drive and Northeast Drive. Mr.
Frost agrees to pay the City $92.00 per acre for the use of the said land, which equates to
$3,790.40 per year, with the term beginning upon City Council approval and ending on
December 319`, 2010. Mr. Frost has leased this area in question for numerous years at
$92.00 per acre, and it is still proposed to lease the land at $92.00 per acre. As you may
recall, last year, the City Council directed staff to reevaluate the rental amounts the City
was receiving for land leases, questioning if the City was receiving a fair rental payment
amount for farming purposes. Mr. Frost is farming approximately 13 acres more than he
has in the past, which results in approximately $1,200 more in rent for the City, and staff
believes the rental amount is a fair asking price based on the lower quality of the farmland
in question, due to its wet conditions, sandy soils and poor drainage most notably due to
the wetlands located directly to the north and south of MLK Jr. Drive.
Expenditure Required. None.
Source of Funds: N/A
Policy Issue: Property Management
CITY WEBSITE: www.cityofwaterlooiowa.com
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
Alternative: N/A
Background Information: Mr. Frost has been farming this area in question for
approximately 5 years, and has adhered to the conditions set forth in the past lease
agreements. Mr. Frost has paid his yearly rent in December of each year, and he intends to
still pay his rent this December, later this year.
Also, in a 2009 survey done by Iowa State University Extension of land rental rates for
different agricultural uses throughout the State of Iowa, the lowest rental rate submitted by
a survey recipient in Black Hawk County was $100.00 per acre for corn/soybean uses on
low quality farmland (see the attached ISU survey). Staff would consider the land that Mr.
Frost is farming as low quality farmland, and believes the proposed rental amount is fair
based on the lower quality of the farmland in question, due to its wet conditions, poor
drainage and sandy soil conditions.
Ccr Aric Schroeder, City Planner
-File-
RESOLUTION NO. 2010-349
RESOLUTION APPROVING LEASE AGREEMENT WITH
WILLARD FROST AND DIRECTING EXECUTION OF SAID
AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Lease Agreement dated May 10, 2010, in the amount of
$3,790.40, to farm approximately 41.2 acres of land at $92.00 per
acre, generally located adjacent to Martin Luther King Jr. Drive
and Bishop Avenue in the Northeast Industrial Park, for the
period May 10, 2010 to December 31, 2010, by and between Willard
Frost of Waterloo, Iowa and the City of Waterloo, Iowa, be and
the same is hereby approved, and the Mayor and City Clerk
authorized to execute the same in behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 10th day of May, 2010.
70.
Ernest G. Clark, Mayor
ATTEST: