HomeMy WebLinkAbout2016-161-3/7/2016 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323 .
RESOLUTION NO. 2016-161
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT
BETWEEN A. S . COMMERCIAL, LLC AND THE CITY OF
WATERLOO FOR THE CONSTRUCTION OF A 17, 500
SQUARE FOOT COMMERCIAL BUILDING IN THE MARTIN
ROAD TIF DISTRICT, ADDING $2, 500, 000 OF
TAXABLE VALUE TO THE SITE, AUTHORIZING A
GRANT OF $£419, 265 AND OFFERING 50 PERCENT TAX
REBATES FOR FIVE YEARS, AND AUTHORIZE MAYOR
AND CITY CLERK TO EXECUTE ALL NECESSARY
DOCUMENTS .
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA that the Development Agreement dated March 7, 2016, between
A. S. Commercial, LLC and the City of Waterloo, Iowa, for the
construction of a 17, 500 square foot commercial building in the
Martin Road TIF District, adding $2, 500, 000 of taxable value to
the site, authorizing a grant of $419, 265 and offering 50 percent
tax rebates for five years, is hereby approved and the Mayor and
City Clerk are authorized and directed to execute the same on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 7th day of March 2016.
Quentin Hart, Mayor
ATTEST:
e ley Fel hle
Deputy Ci Clerk
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Doc ID. 007020150001 Type GEN
Recorded: 05/05/2016 at 04:28:33 PM
Fee Amt: $7.00 Pape 1 of 1
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
Fi1e2016-00018 00018701
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Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2016-161
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT
BETWEEN A.S. COMMERCIAL, LLC AND THE CITY OF
WATERLOO FOR THE CONSTRUCTION OF A 17,500
SQUARE FOOT COMMERCIAL BUILDING IN THE MARTIN
ROAD TIF DISTRICT, ADDING $2,500,000 OF
TAXABLE VALUE TO THE SITE, AUTHORIZING A
GRANT OF $419,265 AND OFFERING 50 PERCENT TAX
REBATES FOR FIVE YEARS, AND AUTHORIZE MAYOR
AND CITY CLERK TO EXECUTE ALL NECESSARY
DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO,
IOWA that the Development Agreement dated March 7, 2016, between
A.S. Commercial, LLC and the City of Waterloo, Iowa, for the
construction of a 17,500 square foot commercial building in the
Martin Road TIF District, adding $2,500,000 of taxable value to
the site, authorizing a grant of $419,265 and offering 50 percent
tax rebates for five years, is hereby approved and the Mayor and
City Clerk are authorized and directed to execute the same on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 7th day of March 2016.
Kelley Felchle
Deputy'Ci. Clerk
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Quentin Hart, Mayor