HomeMy WebLinkAbout2020-794-10.26.2020Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2020-794
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH JSA DEVELOPMENT, LLC, FOR THE
REHABILITATION OF 704-706 JEFFERSON STREET/301-307
WEST 5TH STREET, INCLUDING A GRANT OF $230,000,
TAX REBATES OF 70 PERCENT FOR 15 YEARS, AND A
NEW MINIMUM ASSESSED VALUE OF $862,440, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated October 26, 2020, between JSA Development, LLC and
the City of Waterloo, Iowa, for the rehabilitation of 704-706 Jefferson Street/301-307 West 5th
Street, including a grant of $230,000, tax rebates of 70 percent for 15 years, and a new Minimum
Assessed Value of $862,440, 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 26th day of October 2020.
ATTEST:
Ke//ee retchie
Kelley Felchle
City Clerk
CERTIFICATE
VCl/2/i-i ;/1
DIGITALLY
SIGNED
Quentin Hart, Mayor
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2020-794 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 26th day of October 2020.
SEAL
Witness my hand and seal of office this 26th day of October 2020.
Kelle, �etch�e
Kelley Felchle
City Clerk