HomeMy WebLinkAbout2021-059-02.01.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-059
RESOLUTION AUTHORIZING THE SALE AND
CONVEYANCE OF CITY OWNED PROPERTY LOCATED
SOUTH OF 1246 MARTIN ROAD, TO IPE1031 REV279, LLC,
IN THE AMOUNT OF $1.00, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
WHEREAS, the City of Waterloo, Iowa is the owner of real property located at 1246
Martin Road, in the City of Waterloo, Iowa, as described below, and
WHEREAS, an offer to purchase said parcel of real property, in the amount of $1.00 has
been made by IPE1031 REV279, LLC, and
WHEREAS, a public hearing was held on February 1, 2021 at 5:30 p.m. virtually, via
Zoom, as provided by law, by the Council of the City of Waterloo, Iowa, on the proposal to sell
and convey premises owned by the City of Waterloo, Iowa, to IPE1031 REV279, LLC, and
WHEREAS, it is the opinion of this Council that the sale and conveyance should be made
as proposed.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COUNCIL OF THE CITY
OF WATERLOO, IOWA, AS FOLLOWS:
1. The real property located at 1246 Martin Road, in the City of Waterloo, Iowa, as fully
described in the published notice in the Waterloo Courier January 22, 2021, is not presently
needed, and will not be needed in the foreseeable future for municipal purposes, and its
ownership is serving no municipal purpose.
2. That the offer of IPE1031 REV279, LLC, to purchase the property at 1246 Martin
Road, in the City of Waterloo, Iowa, for the sum of $1.00, is hereby accepted for the real
property legally described as follows:
THE NORTH 150 FEET OF LOT 2, LOT 3, AND TRACT A, BROCK THIRD
ADDITION, WATERLOO, IOWA.
3. That the City of Waterloo, Iowa conveys said parcel of real property to IPE1031
REV279, LLC, by special warranty deed.
4. That the Mayor and City Clerk are authorized and directed to execute said deed.
5. That the original of said special warranty deed, fully executed and acknowledged, is
hereby approved and confirmed by this Council.
6. That the Community Planning and Development Director is authorized and directed to
deliver said deed of conveyance to IPE1031 REV279, LLC upon receipt of the sum of $1.00.
PASSED AND ADOPTED this 1st day of February 2021.
Quentin Hart, Mayor
Resolution 2021-059
Page 2
ATTEST:
Kece, fetclile
Kelley Felchle
City Clerk
CERTIFICATE
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. 2021-059 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 1st day of February 2021.
SEAL
Witness my hand and seal of office this 1st day of February 2021.
Keith, �elchle
Kelley Felchle
City Clerk