HomeMy WebLinkAbout2019-635-08/19/2019 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2019-63 5
RESOLUTION AUTHORIZING ASSIGNMENT OF REBATES TO
ARC FEWTLIA001, LLC, IN CONJUNCTION WITH A
DEVELOPMENT AGREEMENT WITH M & R IOWA, LLC,
ORIGINALLY APPROVED ON MARCH 4, 2013, FOR THE
PROPERTY LOCATED AT 2320 W. AIRLINE HIGHWAY,AND
AUTHORIZE THE MAYOR AND CITY CLERK TO EXECUTE
SAID DOCUMENT.
WHEREAS, M & R Iowa, LLC entered into a Development Agreement, originally
approved March 4, 2013, with the City of Waterloo, for the development of property located at
2320 W. Airline Highway, 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,
ARC FEWTLIA001, 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 2320 W. Airline
Highway, are hereby approved.
PASSED AND ADOPTED this 19th day of August 2019.
4 e1
Quentin Hart, Mayor
ATTEST:
111 / •
�� I
Kel ey Felchl:
City Clerk
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. 2019-635 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 19th day of August 2019.
Witness my hand and seal of office this 19th day of August 2019.
/ /),(&
- Kelley Fele d
City Clerk •
SEAL