HomeMy WebLinkAbout2006-149-02/27/2006 :his Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2006-149
v i;
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH CRYSTAL DISTRIBUTION SERVICES, INC. AND
DIRECTING EXECUTION OF SAID AGREEMENT BY
MAYOR.
s c BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated February 27, 2006, for
exjpansion of an additional 60, 000 square foot industrial
warehousing buildingat 1656 Sycamore Street, just northerly of
the new 18th Street Bridge, with an additional minimum taxable
value of $3, 000, 000 . 00, tax rebatements for ten years at 50
percent of the added value and the city purchasing land at a cost
$375, 000 . 00 and conveying title of the land to Crystal
€± tribution Services, Inc. , by and between Crystal Distribution
Se-rvices, Inc. of Waterloo, Iowa, and the City of Waterloo, Iowa,
be_. and the same is hereby approved, and the Mayor authorized to
`execute the same in behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 27th day of February, 2006.
A2
Tim Hurley, yor
ATTEST:
Nancy Ecke , CMC
City Clerk