HomeMy WebLinkAbout2019-314-05/06/2019Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-314
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH KOELKER PROPERTIES, LLC, FOR THE
CONSTRUCTION OF THREE (3) INDUSTRIAL BUILDINGS
WITHIN FIVE (5) YEARS WITH AN ESTIMATED NEW
TAXABLE VALUE OF $510,000 FOR PHASE I, WITH FIVE (5)
YEARS AT 50% TAX REBATES FOR PHASE II AND PHASE
III, 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 Koelker Properties, LLC, and the
City of Waterloo, for the construction of three (3) industrial buildings within five (5) years with
an estimated new taxable value of $510,000 for Phase I, with five (5) years at 50% tax rebates for
Phase II and Phase III, 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 Fele
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. 2019-314 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.
Ke ey Fele
Ci Y Clerk
SEAL