HomeMy WebLinkAbout2019-857-11/12/2019 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, 319-291-4323.
RESOLUTION NO. 2019-857
RESOLUTION APPROVING A REQUEST FOR JOINT
PAYMENT OF PROPERTY TAX REBATES WITH CEDAR
VALLEY REAL ESTATE, LLC, AND GREAT WESTERN
BANK, FOR THE REBATES FOR THE DEVELOPMENT
AGREEMENT FOR 300-304 COMMERCIAL STREET, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, Cedar Valley Real Estate is party to a certain Development Agreement with
the City of Waterloo concerning renovations made to real property located at 300 Commercial
Street, and
WHEREAS, Cedar Valley Real Estate has completed renovations/improvements as set
forth in said Development Agreement, and
WHEREAS, the City agrees to a TIF rebate of property taxes back to Cedar Valley Real
Estate, and
WHEREAS, Cedar Valley Real Estate requests any disbursement of the payment be
issued jointly to Cedar Valley Real Estate and Great Western Bank.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that the request for joint payment of property tax rebates to Cedar Valley Real Estate, LLC
and Great Western Bank, in conjunction with the development agreement for 300-304
commercial street, is hereby approved, and the mayor and city clerk are authorized and directed
to execute said document on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 12th day of November 2019.
Quentin Hart, Mayor
ATTEST:
/ / / f
Kelley Felchle(
City Clerk