HomeMy WebLinkAbout2016-597-7/25/2016IlI1IIIIIlllhIIII IIiIII lI
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2018-00002756
LocAor1oc7 a G�
Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, 319-291-4323.
RESOLUTION NO. 2016-597
RESOLUTION APPROVING DEVELOPMENT AGREEMENT WITH
HYDRITE CHEMICAL CO. FOR THE CONSTRUCTION OF A 20,000
SQ. FT. INDUSTRIAL BUILDING AT ITS EXISTING SITE
EXPANSION AREA AT 2815 WCF & N DRIVE, ADDING AN
ESTIMATED $1.3 MILLION IN NEW TAXABLE VALUE TO THE
SITE, AND OFFERING TAX REBATES AT 5 YEARS AT 50% FOR
ANY ADDED VALUE TO THE OVERALL SITE, AND AUTHORIZE
THE MAYOR AND CITY CLERK TO SIGN AND FULLY EXECU IE
THE DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated July 25, 2016, between Hydrite Chemical Co., of
Waterloo, Iowa and the City of Waterloo, Iowa, for the construction of a 20,000 square foot
industrial building at its existing site expansion area at 2815 WCF & N Drive, adding an
estimated $1.3 million in new taxable value to the site, and offering tax rebates at 5 years at 50
percent for any added value to the overall site, is hereby approved and the Mayor and City Clerk
are authorized and directed to execute the same on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 25th day of July, 2016.
ATTEST'.'
Suzy Scharey, CMC
City Clerk
Quentin Hart, Mayor
Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, 319-291-4323.
RESOLUTION NO. 2016-597
RESOLUTION APPROVING DEVELOPMENT AGREEMENT WITH
HYDRITE CHEMICAL CO. FOR THE CONSTRUCTION OF A 20,000
SQ. FT. INDUSTRIAL BUILDING AT ITS EXISTING SITE
EXPANSION AREA AT 2815 WCF & N DRIVE, ADDING AN
ESTIMATED $1.3 MILLION IN NEW TAXABLE VALUE TO THE
SITE, AND OFFERING TAX REBATES AT 5 YEARS AT 50% FOR
ANY ADDED VALUE TO THE OVERALL SITE, AND AUTHORIZE
THE MAYOR AND CITY CLERK TO SIGN AND FULLY EXECUTE
THE DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated July 25, 2016, between Hydrite Chemical Co., of
Waterloo, Iowa and the City of Waterloo, Iowa, for the construction of a 20,000 square foot
industrial building at its existing site expansion area at 2815 WCF & N Drive, adding an
estimated $1.3 million in new taxable value to the site, and offering tax rebates at 5 years at 50
percent for any added value to the overall site, is hereby approved and the Mayor and City Clerk
are authorized and directed to execute the same on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 25th day of July, 2016.
Quentin Hart, Mayor
ATTEST:
Suzy Schare , CMC
City Clerk