HomeMy WebLinkAbout2006-415-05/15/2006 '\ N
7-
-1
tkri , Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
treet, Waterloo, Iowa.
RESOLUTION NO. 2006-415
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A DEVELOPMENT AGREEMENT BETWEEN
< — COMMUNITY NATIONAL BANK AND THE CITY OF
WATERLOO, IOWA.
l WHEREAS, Community National Bank proposes to develop property
the Downtown Waterloo Urban Renewal and Redevelopment Plan
71tea, and
WHEREAS, Community National Bank and the City of Waterloo,
va, believe it is in the best interest of both parties to
J ecute a Development Agreement between them regarding the
{ie.velopment and use of said real estate as well as other matters,
atki
WHEREAS, the City of Waterloo declares that this project
-qualifies for incentives as authorized under Chapter 15A and
<Chapter 403 in the Code of Iowa and the Downtown Waterloo Urban
;Renewal and Redevelopment Plan, and
WHEREAS, the City Council of the City of Waterloo, Iowa, has
_considered the Development Agreement, a copy of which is hereto
:attached, and deems it be in the best interest of the City of
'-Waterloo, Iowa, to enter into said Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that the Development Agreement between
Community National Bank and the City of Waterloo, Iowa, a copy of
which is hereto attached, is hereby approved, and the Mayor and
City Clerk are hereby authorized to execute said Agreement on
behalf of the City of Waterloo, Iowa.
ADOPTED this 15th day of May, 2006 .
Tim Hurley,"yor
ATTEST:
Nanc - Eck , CMC
City Cler