HomeMy WebLinkAbout2018-434-6/18/2018 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-434
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH ADVANCED HEAT TREAT CORP., TO
AUTHORIZE THE SALE AND CONVEYANCE OF A
PORTION OF CITY OWNED PROPERTY FOR $1.00
GENERALLY LOCATED SOUTH OF 2825 MIDPORT
BOULEVARD, FOR THE EXPANSION OF THEIR HEAT
TREATING FACILITY, WITH AN ESTIMATED NEW
TAXABLE VALUE OF $2,055,780 MILLION, WITH 3 YEARS
AT 50% TAX REBATES, AND AUTHORIZING MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENTS.
WHEREAS, the City of Waterloo, Iowa is the owner of real property generally located
south of 2825 Midport Boulevard in the City of Waterloo, Iowa, as describe below, and
WHEREAS, an offer to purchase said real property in the amount of $1.00, has been
made by Heat Treat Corp., and
WHEREAS, a public hearing was held on June 18, 2018 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 property owned by the City of
Waterloo, Iowa, to Heat Treat Corp., and
WHEREAS, it is the opinion of this council that said sale and conveyance should be
made as proposed.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY 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 8, 2018, is not presently needed and will not be needed in the
foreseeable future for municipal purposes and its ownership is serving no municipal purpose.
2. That the offer of Heat Treat Corp. to purchase real property for the sum of$1.00 is
hereby accepted for the real property described as follows:
MIDPORT AMERICA PARK PLAT NO. 1 THAT PART TRACT B LYING
NORTH OF A LINE WHICH BEGINS AT A POINT ON THE EAST LINE OF
SAID TRACT B AT A POINT WHICH IS 420 FEET SOUTH OF THE
NORTHEAST CORNER OF SAID TRACT B THENCE NORTH 90 DEGREES
WEST 790 FEET TO THE WEST LINE OF SAID TRACT B AND POINT OF
TERMINATION.
ALSO
THE NORTH 100 FEET OF THE WEST 360 FEET OF THAT PART OF
TRACT "B", MIDPORT AMERICA PARK PLAT NO. 1, IN THE CITY OF
WATERLOO, BLACK HAWK COUNTY, IOWA, LYING SOUTH OF THE
PARCEL SHOWN ON THE PLAT OF SURVEY RECORDED IN CITY LOT
DEED BOOK 665, AT PAGE 403, IN THE RECORDS OF THE BLACK
HAWK COUNTY RECORDER.
Resolution 2018-434
Page 2
3. That the City of Waterloo, Iowa conveys said parcels of real property described above
to Heat Treat Corp. by a quit claim deed.
4. That the Mayor and City Clerk are authorized and directed to execute said quit claim
deed.
5. That the original of said quit claim deed, fully executed and acknowledged, is hereby
approved and confirmed by this Council.
6. That the City Attorney is authorized and directed to deliver said quit claim deed to
Heat Treat Corp., upon receipt of$1.00.
PASSED AND ADOPTED this 18th day of June 2018.
Quentin Hart, Mayor
ATTEST:
Kelley Felc e
City Clerk
CERTIFICATE
I, Kelley Felchle City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution 2018-434, as passed and adopted by the
Council of the City of Waterloo, Iowa, on the 18th day of June 2018.
Witness my hand and seal of office this 18th day of June 2018.
Kelley Felclf
�` City Clerk