HomeMy WebLinkAbout2018-521-7/16/2018(RECORDED W/DEV AGRMNT)Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703; (319) 291-4323.
RESOLUTION NO. 2018-521
RESOLUTION RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH AVITA DEVELOPMENTS, LLC FOR THE
CONSTRUCTION OF A 5,300 SQUARE FOOT MEDICAL
OFFICE EXPANSION WITH A MINIMUM ASSESSED VALUE
OF $1.1 MILLION ADDED VALUE AND 5 YEARS AT 50% TAX
REBATES, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID AGREEMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated July 16, 2018 between Avita Development, LLC and the
City of Waterloo, Iowa, for the development and construction of a 5,300 square foot medical
office expansion, with a minimum assessed value of $1.1 million added value and 5 years at 50%
tax rebates, for property commonly known as a portion of the former Logan Plaza area, is hereby
approved and the Mayor and City Clerk are authorized and directed to execute said agreement on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 16th day of July 2018.
vATTp1ST:
Kelley Fele
City Clerk
Quentin Hart, Mayor
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 2018-521, as passed and adopted by the
Council of the City of Waterloo, Iowa, on the 16th day of July 2018.
Witness my hand and seal of office this 16th day of July 2018.
Kelley Felchle
City Clerk