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This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
atet, Waterloo, Iowa.
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RESOLUTION NO. 2008-675
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RESOLUTION APPROVING DEVELOPMENT AGREEMENT
HWITH CARDINAL CONSTRUCTION INC. AND DIRECTING
x EXECUTION OF SAID AGREEMENT BY MAYOR PRO TEM.
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s BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
t the Development Agreement dated August 11, 2008, for
L„ de`�lelopment of a 14 , 400 square foot professional office building
i=-.the Country Club Business Center between Tower Park Drive and
00 c_j"4her Drive, with a new minimum taxable value of $3, 202, 656. 08
jncluding tax rebates for seven years at 100 percent and an 8ti
mar at 36 percent for repayment of the land purchase, by and
Sween Cardinal Construction Inc. of Waterloo, Iowa, and the
�iT y of Waterloo, Iowa, be and the same is hereby approved, and
thZ Mayor Pro Tem and City Clerk authorized to execute the same
xi- behalf of the City of Waterloo, Iowa.
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PASSED AND ADOPTED this llt' da f A gust, 2008 .
Reggie Schmitt, Mayor Pro Tem
AT EST
Nancy Ecl e 't, CMC
City Cler