HomeMy WebLinkAbout2018-750-10/8/2018 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-750
RESOLUTION APPROVING THE ASSIGNMENT OF
REBATES TO GAYMOND W. SCHULTZ & CYNTHIA A.
SCHULTZ IN CONJUNCTION WITH A DEVELOPMENT
AGREEMENT WITH DOLLY JAMES, LLC, ORIGINALLY
APPROVED ON JANUARY 30, 2012 FOR THE PROPERTY
LOCATED AT 820-914 SYCAMORE STREET, AND AUTHORIZE
THE MAYOR AND CITY CLERK TO EXECUTE SAID
AGREEMENT.
WHEREAS, Dolly James, LLC entered into a Development Agreement with the City of
Waterloo for the development of property located at 820-914 Sycamore Street, and
WHEREAS,the developer was given tax rebates for the added value of the project, and
WHEREAS, the property has 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,
Gaymond W. Schultz& Cynthia A. Schultz,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 820-914 Sycamore
Street, are hereby approved.
PASSED AND ADOPTED this 8th day of October 2018.
Quentin Hart, Mayor F
— ATTEST:
Kelley Felc
City Clerk