HomeMy WebLinkAbout2017-799-9/2/2017 Prepared by LeAnn M. Even, Deputy City Clek, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2017-799
RESOLUTION APPROVING THE ASSIGNMENT OF REBATES
TO TWIN TREES, LLC IN CONJUNCTION WITH A
DEVELOPMENT AGREEMENT WITH JSA DEVELOPMENT,
LLC, ORIGINALLY APPROVED ON SEPTEMBER 29, 2015 FOR
THE PROPERTY LOCATED AT 402-404 E. 4TH STREET, AND
AUTHORIZE THE MAYOR AND CITY CLERK TO EXECUTE
SAID AGREEMENT.
WHEREAS, JSA Development, LLC entered into a Development Agreement with the City
of Waterloo,Iowa for the redevelopment of the property located at 402-404 E. 4th Street, and
WHEREAS,the developer was given tax rebates for the added value of the project, and
WHEREAS, the property Yhas been sold and the Development Agreement states that
assignment of tax rebates is eligible and that the Assignment of Rebates will allow the new owner,
Twin Trees,LLC,to receive the tax rebates.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the Assignment of Rebates for properties located at 402-404 E. 4t'
Street,be approved.
PASSED AND ADOPTED this 25h day of September, 2017
Quentin Hart, Mayor
ATTEST:
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