HomeMy WebLinkAbout2012-472-05.21.2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-472
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH R & N INVESTMENT PROPERTIES, LLC FOR THE
DEVELOPMENT OF A PORTION OF LOT 11 IN THE
NORTHEAST INDUSTRIAL PARK PLAT NO. 3; AND
AUTHORIZE MAYOR AND CITY CLERK TO EXECUTE
SAID DOCUMENT.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated May 21, 2012 between R & N
Investment Properties, LLC and the City of Waterloo, Iowa for a
new 10,000 square foot addition to the existing 30,000 square
foot building at 2277 Northeast Drive, with an added taxable
value of $200,000.00, for a new total minimum taxable value of
$895,050.00, is hereby approved and the Mayor and City Clerk are
authorized and directed to execute said agreement on behalf of
the City of Waterloo.
PASSED AND ADOPTED this 21st day of May 2012.
.Cues( Cf C.ark
SIGNED
Ernest G. Clark, Mayor
ATTEST:
Suzy Schares, CMC
City Clerk