HomeMy WebLinkAbout2015-907-11/23/2015 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, 319-291-4323 .
RESOLUTION NO. 2015-907
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH AMA REAL ESTATE, LLC FOR THE RENOVATION
AND MAINTENANCE OF THE FORMER CONTROL-O-FAX
BUILDING AT 3070 WEST AIRLINE HIGHWAY, WITH
THE CITY ACQUIRING 6. 06 ACRES OF LAND AT
$454, 500 FOR FUTURE DEVELOPMENT, AND
AUTHORIZE MAYOR TO EXECUTE THE DOCUMENT.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated November 23, 2015, for the
renovation and maintenance of the former Control-O-Fax building,
located at 3070 West Airline Highway, with the City of Waterloo
acquiring 6. 06 acres of land at $454, 500 for future development,
and legally described as follows :
A part'-of the Southeast Quarter (SE 1/4) of Section Five
(Sec. 5) , Township Eighty-Nine North (T89N) , Range Thirteen
West (R13W) of the Fifth Principal Meridian (5th PM) in the
City of Waterloo, Black Hawk County, Iowa, described as
follows :
Commencing at the Southeast corner of said Section Five;
thence North 90 degrees 00 minutes West 1, 865 . 16 feet along
the south line of said Section Five; thence North 00 degrees
00 minutes East 126 feet to the northerly right-of-way line
of West Airline Highway (formerly US Highway No. 20) ; thence
continuing North 00 degrees 00 minutes East 393 . 76 feet to
the south line of the Chicago, Central and Pacific Railroad
right-of-way; thence South 88 degrees 09 minutes East 223 . 62
feet (South 88 degrees 08 minutes 45 seconds 223 . 62 feet as
recorded in document Land Deed 562 730). to the point of
beginning; thence South 00 degrees 00 minutes 386. 45 feet
(South 00 degrees 386 . 45 feet per Land Deed 562 730) to the
aforesaid north right-of-way line of West Airline Highway;
thence North 90 degrees 00 minutes East 704 . 00 feet along
said north right-of-way line; thence North 00 degrees 00
minutes East 363 . 80 feet to the aforesaid south line of the
Chicago, Central and Pacific Railroad right-of-way line;
thence North 88 degrees 09 minutes East 704 . 37 feet along
said railroad right-of-way line to the point of beginning
containing approximately 6. 06 acres (264, 120 . 7 square feet) ;
by and between AMA Real Estate, LLC and the City of Waterloo,
Iowa is hereby approved, and the Mayor is authorized and directed
to execute the same on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 23rd day of November 2015 .
,
Ernest G. Clark,w Mayor
ATTEST:
Ke ley1 le
Deputy City Clerk