HomeMy WebLinkAbout2019-39-1-22-19Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,.
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-39
RESOLUTION APPROVING REQUEST FOR RELEASE OF
REVERSIONARY RIGHTS PERTAINING TO A DEVELOPMENT
AGREEMENT WITH LG COMPANIES, LLC, FOR THE
CONSTRUCTION OF ONE NEW SINGLE-FAMILY HOME LOCATED
AT 1935 RAINBOW DRIVE, AND AUTHORIZE THE MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENT.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA that
the Release of Reversionary Rights, dated January 22, 2019, releasing and relinquishing all rights
of reversion, or similar rights, arising from or in connection with a certain Development
Agreement, dated December 11, 2017, filed as Doc. No. 2018-13526, as such rights relate to real
property now legally described as follows:
LOTS 2 AND 3, LOBDELL`S SECOND ADDITION TO CASTLE HILL,
CITY OF WATERLOO, IOWA
By and between LG Companies, LLC and the City of Waterloo, Iowa, is hereby approved, and
the Mayor and City Clerk are hereby authorized to execute the same on behalf of the City of
Waterloo, Iowa.
PASSED AND ADOPTED this 22nd day of January 2019.
ATTEST:
Kelley Felchle
City Clerk