HomeMy WebLinkAbout2019-312-05/06/2019Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-312
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH PROSPER FARMS NETWORK, LLC,
FOR THE CONSTRUCTION OF A TRUCK WASH AND
EXPANSION WITHIN THREE (3) YEARS, WITH AN
ESTIMATED NEW TAXABLE VALUE OF $750,000 FOR
PHASE I, WITH FIVE (5) YEARS AT 50% TAX REBATES
FOR TAXABLE VALUE OVER $1 MILLION AF LER
COMPLETION OF PHASE I AND PHASE II,
AND AUTHORIZE THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
that the Development Agreement dated May 6, 2019 between Prosper Farms Network, LLC, and
the City of Waterloo, Iowa, for the construction of a truck wash and expansion within three (3)
years, with an estimated new taxable value of $750,000 for Phase I, with five (5) years at 50%
tax rebates for taxable value over $1 million after completion of Phase I and Phase II, is hereby
approved and the Mayor and City Clerk are authorized and directed to execute said documents on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 6th day of May 2019.
ATTEST:
elley Felch
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. 2019-312 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 6th day of May 2019.
Witness my hand and seal of office this 6th day of May 2019.
Kelley Felchle
City Clerk
SEAL