HomeMy WebLinkAbout2019-109-2/25/19Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-109
RESOLUTION APPROVING THE ASSIGNMENT OF
REBATES TO REESE PROPERTIES, LLC IN CONJUNCTION
WITH A DEVELOPMENT AGREEMENT WITH ENDEAVORS
LTD, LLC, ORIGINALLY APPROVED ON JULY 29, 2015 FOR
THE PROPERTY LOCATED AT 2661 GERALDINE ROAD, AND
AUTHORIZE THE MAYOR AND CITY CLERK TO EXECUTE
SAID AGREEMENT.
WHEREAS, Endeavers LTD, LLC entered into a Development Agreement with the City of
Waterloo for the development of property located at 2661 Geraldine Road, 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,
Reese Properties, LLC, 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 2661 Geraldine
Road, are hereby approved.
PASSED AND ADOPTED this 25th day of February 2019.
ATTEST:
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W
Ke ey Felc'D.e
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 No. 2019-109 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 25th day of February 2019.
Witness my hand and seal of office this 25th day of February 2019.
KktPwcthk1A ey Felchle
City Clerk
SEAL