HomeMy WebLinkAbout2015-848-10/26/2015 t
Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, �Waterloo, IA 50703, (319) 291-4323 .
;RESOLUTION NO. 2015-848
RESOLUTION APPROVING DEVELOPMENT AGREEMENT WITH
DUPACO COMMUNITY CREDIT UNION FOR THE CONSTRUCTION
OF A 3, 000 SQ. FT. OFFICE BUILDING AT THE
NORTHWEST CORNER OF SAN MARNAN DRIVE FRONTAGE ROAD
AND SCHUKEI ROAD, ADDING $1 . 2 MILLION OF TAXABLE
VALUE TO THE SITE, OFFERING 3 YEARS OF TAX REBATES
AT 50 PERCENT, AND AUTHORIZE THE MAYOR AND CITY
CLERK TO EXECUTE SAID AGREEMENT.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the development agreement dated October 26, 2015, between
Dupaco Community Credit Union and the City of Waterloo, Iowa, for
the construction of la 3, 000 square foot office building at the
northwest corner of ' San Marnan Drive Frontage Road and Schuke'i
Road, adding $1 . 2 million of taxable value to the site, and
offering three years of tax rebates at 50 percent, is hereby
approved and the Mayor and City Clerk are authorized and directed
to execute the same on behalf of the City of Waterloo, Iowa.
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PASSED AND ADOPTED this 26th day of October 2015 .
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Quentin Hart, Mayor Pro Tem
ATTEST:
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Suzy Sch res, CMC
City Cle k r.
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