HomeMy WebLinkAbout2015-428-6/8/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2015-428
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT WITH
GMJ2 INDUSTRIES, LLC TO AUTHORIZE THE SALE ' AND
CONVEYANCE OF CITY-OWNED PROPERTY LOCATED AT THE
NORTHWEST CORNER OF NORTHEAST DRIVE AND MARTIN
LUTHER KING, JR. DRIVE, AND AUTHORIZE MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENTS .
WHEREAS, that the Development Agreement dated June 8, 2015,
between GMJ2 Industries, LLC, and the City of Waterloo, Iowa, for
the construction of a 14, 400 square foot mini-storage development
located at the northwest corner of Northeast Drive and Martin
Luther King, Jr. Drive in the Northeast Industrial Park, and
WHEREAS, the City shall convey property by quit claim deed
to the developer in three separate transactions as the developer
completes three phases of development, with each conveyance and
construction being completed by April 30, 2016, April 30, 2018,
and April 30, 2020, and
WHERAS, the City of Waterloo, Iowa is the owner of real
property in the City of Waterloo, Iowa, as described below, and
WHEREAS, an offer to purchase said certain parcel of real
property has been made by GMJ2 Industries, LLC for $1 . 00, and
WHERAS, a public hearing was held on June 8, 2015, at 5 : 30
p.m. in the Harold E. Getty Council Chambers, City Hall,
Waterloo, Iowa, as provided by law, by the Council of the City of
Waterloo, Iowa on the proposal to sell and convey premises owned
by the City of Waterloo, Iowa, to GMJ2 Industries, LLC, and
WHEREAS, it is the opinion of this Council that sale and
conveyance should be made as proposed.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COUNCIL OF THE
CITY OF WATERLOO, IOWA, AS FOLLOWS :
1 . The following described real property, as fully
described in the published notice in the Waterloo Courier on
June 1, 2015, is not presently needed and will not be needed in
the foreseeable future for municipal purposes and its ownership
is serving no municipal purpose, and
2 . That the offer of GMJ2 Industries, LLC to purchase real
property for the sum of $1 . 00, be and it is hereby accepted for
real property described below:
Lots 14, 15 and 16, Northeast Industrial Park Plat No.
3, City of Waterloo, Black Hawk County, Iowa.
3 . That the City of Waterloo, Iowa convey said parcel of
real property to GMJ2 Industries, LLC by quit claim deed.
4 . That the Mayor and City Clerk are hereby authorized to
execute said quit claim deed to GMJ2 Industries, LLC.
5 . That the original of said deed fully executed and
acknowledged is hereby approved and confirmed by the Council.
6. That the Community Planning and Development Department
Resolution 2015-428
Page 2
is authorized and directed to deliver said quit claim deed of
conveyance to GMJ2 Industries, LLC upon receipt in the sum of
$1 . 00 .
7 . That the Mayor and City Clerk are hereby authorized to
execute said Development, Agreement with GMJ2 Industries, LLC on
behalf of the City of Waterloo, Iowa
PASSED AND ADOPTED this 8th day of June 2015 .
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Ernest G. Clark, Mayor
ATTEST:
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