HomeMy WebLinkAbout2014-788-09/08/2014 Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2014-788
RESOLUTION FIXING THE TIME AND PLACE OF
HEARING AND NOTICE TO BE GIVEN ON THE PROPOSED
DEVELOPMENT AGREEMENT WITH HOTEL PRESIDENT
PARTNERS, LLC FOR THE REDEVELOPMENT OF 500
SYCAMORE STREET, AUTHORIZING A TAX REBATE
SCHEDULE AT 10 YEARS (80%, 70%, 60%, 50%, 40%,
40%, 30%, 30%, 20%, 20%) , INCREASING THE
TAXABLE VALUE FROM $1, 073, 680. 00 TO
$2, 542, 230. 00, AS SEPTEMBER 22, 2014, AT 5: 30
P.M. IN HAROLD E. GETTY COUNCIL CHAMBERS, CITY
HALL, WATERLOO, IOWA AND INSTRUCTING THE CITY
CLERK TO PUBLISH THE NOTICE OF HEARING.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
AS FOLLOWS :
Section 1 . That the Council of the City of Waterloo, Iowa
shall meet in the Harold E. Getty Council Chambers, City Hall,
in the City of Waterloo, Iowa at 5 : 30 p.m. on the 22nd day of
September, 2014, for the purpose of considering and acting upon
a proposed Development Agreement with Hotel President Partners,
LLC for the redevelopment of 500 Sycamore Street, authorizing a
tax rebate schedule at 10 years (80%, 70%, 60%, 50%, 40%, 40%,
30%, 30%, 20%, 20%) , increasing the taxable value from
$1, 073, 680. 00 to $2, 542,230. 00, and legally described as follows:
Original Plat Waterloo East Northwesterly 60 feet of
Lot 2, Block 4, and the Northwesterly 60 feet of Lot 3,
Block 4 .
Section 2 . That the City Clerk is hereby directed to
publish notice of the time and place of said hearing in the
Waterloo Courier.
PASSED AND ADOPTED this 8th day of September, 2014 .
•(-er-'(-647
Ernest G. Clark, Mayor
ATTEST:
Suzy Scha
City Cler