HomeMy WebLinkAbout2012-885-9/4/2012 Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703 .
RESOLUTION NO. 2012-885
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH MFGC, LLC OF WATERLOO, IOWA 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 4 , 2012, for the
construction of a 5, 664 square foot medical office building in
the San Marnan TIF District, adding $1, 275, 000 . 00 of taxable
value to the site, and offering tax rebates for the 1st year at
72 percent, and then tax rebates for 9 years at 71 percent, by
and between MFGC, LLC 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 4th day of September, 2012 .
Ernest G. Clark, Mayor
ATTEST :
'zy Sc ares, CMC
City Cl rk