HomeMy WebLinkAbout2015-405-6/1/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2015-405
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT
BETWEEN GREEN ACRES STORAGE LLC AND THE CITY OF
WATERLOO FOR THE CONSTRUCTION OF A 100, 000 SQUARE
FOOT STORAGE BUILDING IN THE SAN MARNAN TIF
DISTRICT, ADDING $2, 704, 100 OF TAXABLE VALUE TO
SITE, AND OFFERING 7 YEARS OF TAX REBATES AT 82
PERCENT, 77 PERCENT, 75 PERCENT, 75 PERCENT, 75
PERCENT, 60 PERCENT, AND 60 PERCENT TO COMPANY,
AND AUTHORIZE MAYOR AND CITY CLERK EXECUTE
DOCUMENTS .
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO,
IOWA, that the Development Agreement dated June 1, 2015, between
Green Acres Storage, LLC, and the City of Waterloo, Iowa, for the
construction of a 100, 000 square foot storage building in the San
Marnan TIF District, adding $2, 704, 100 of taxable value to the
site, and offering seven years of tax rebates at 82 percent, 77
percent, 75 percent, 75 percent, 75 percent, 60 percent, and 60
percent to the company, be hereby approved, and the Mayor and
City Clerk are hereby authorized to execute said agreement .
PASSED AND ADOPTED this lst day of June 2015 .
Er st G. Clark, Mayor
ATTEST :
uzyJerk
ares, CMC
City