HomeMy WebLinkAbout2006-208-03/20/2006 •
This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2006-208
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH OFI PROPERTIES, LLC AND DIRECTING
EXECUTION OF SAID AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated March 20, 2006, to convey
approximately 7 . 7 acres of property generally located just south
of _the Gray Transportation site in the Northeast Industrial Park
to allow construction of a 69, 120 square foot industrial building,
WAth a minimum taxable value of $1, 900, 000. 00 and five years tax
rebatements at 50 percent of the project, by and between OFI
PTuperties, LLC of Waterloo, Iowa, and the City of Waterloo, Iowa,
tie'-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 20th day of March, 2006.
Tim Hurley, yor
ATTEST:
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Nanc Ec xt, CMC
City Cler 1