HomeMy WebLinkAbout2015-441-6/1/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2015-441
RESOLUTION APPROVING AMENDMENT TO DEVELOPMENT
AGREEMENT WITH KWWL TELEVISION, INC. , REMOVING THE
REQUIREMENT THE CITY BUY THE 3RD FLOOR, CHANGING
THE TIME FRAME FOR THE CITY TO BUY THE 4TH FLOOR
TO OCTOBER 31, 2018, AND CHANGING THE TIME FRAME
FOR THE CITY TO ACQUIRE AND DEMOLISH THE AMERICAN
LEGION BUILDING, AND AUTHORIZE THE MAYOR AND CITY
CLERK TO SIGN AND FULLY EXECUTE ALL NECESSARY
DOCUMENTS .
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO,
IOWA, that the amendment tDevelopment 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 .
J C
Ernest G. Clark, Mayor
ATTEST:
Suzy es, CMC
City ScC1 rk