HomeMy WebLinkAbout2019-361-05/13/2019Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-361
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT AND MINIMUM ASSESSMENT AGREEMENT
WITH TWIN TREES, LLC, FOR THE REDEVELOPMENT OF
A COMMERCIAL BUILDING LOCATED AT 402-404 E. 4TH
STREET, WITH A TAX REBATE AMOUNT OF 100% FOR A
TERM OF SIX YEARS, WITH A MINIMUM ASSESSMENT OF
$1,196,420, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
that the Development Agreement and Minimum Assessment Agreement dated May 13, 2019,
between Twin Trees, LLC, and the City of Waterloo, Iowa, for the redevelopment of a
commercial building located at 402-404 E. 4th Street, with a tax rebate amount of 100% for a
term of six years, with a minimum assessment of $1,196,420, are 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 13th day of May 2019.
ATTEST:
Quentin Hart, Mayor
CERI'IF'ICATE
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. 2019-361 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 13th day of May 2019.
Witness my hand and seal of office this 13th day of May 2019.
elley Fele
City Clerk
SEAL