HomeMy WebLinkAbout2009-952-09/21/2009 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2009-952
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH PRSS PROPERTIES (TURNKEY PROPERTIES) AND
DIRECTING EXECUTION OF SAID AGREEMENT BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated September 21, 2009, for
development of a 12, 000 square foot professional office building
with a new minimum taxable value of $1 . 1 million on property
generally located in the Greenbelt Centre at the southeast corner
of Greyhound Drive and West Ridgeway Avenue, with tax rebates for
four years at 100 percent, a 5th year at 22 percent and five
years at 50 percent, by and between PRSS Properties (Turnkey
Properties) of Waterloo, Iowa and the City of Waterloo, Iowa, be
and the same is hereby approved, and the Mayor and City Clerk
authorized to execute the same in behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 21st day of September, 2009 .
Tim Hurley, Mayor
ATTEST:
Nancy Ecke ' CMC
City Clerk l,