HomeMy WebLinkAbout2018-703-9/17/2018 Prepared Kelley Felchle City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703,
(319) 291-4323.
RESOLUTION NO. 2018-703
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH CANTERBURY COURT REAL ESTATE,
LLC, FOR THE CONSTRUCTION OF A 5,320 SQUARE FOOT
MEDICAL OFFICE BUILDING IN THE SAN MARNAN TIF
DISTRICT, ADDING $1,467,730 OF TAXABLE VALUE TO
SITE, AND OFFERING FOUR YEARS AT 90% TAX
REBATES, TWO YEARS AT 85%, TWO YEARS AT
80%AND ONE YEAR AT 78%, AND AUTHORIZE MAYOR
AND CITY CLERK TO EXECUTE ALL NECESSARY
DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
that the Development Agreement dated September 17, 2018, between Canterbury Court Real
Estate, LLC and the City of Waterloo, Iowa, for the construction of a 5,320 square foot medical
office building in the San Marnan TIF District, adding $1,467,730 of taxable value to site, and
offering four years at 90 percent tax rebates,two years at 85 percent,two years at 80% and one
year at 78 percent, is hereby approved and the Mayor and City Clerk are authorized and directed
to execute all necessary documents on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 17th day of September 2018.
�' ��—
Quentin Hart, Mayor
ATTEST:
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Kel ey F hle
City Clei
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 No. 2018-703 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 17th day of September 2018.
Witness my hand and seal of office this 17th day of September 2018.
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Kelley Fel
City Clerk
SEALi
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