HomeMy WebLinkAbout2021-289-05.03.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-289
RESOLUTION APPROVING AN EXCHANGE AGREEMENT
AND ASSIGNMENT OF REAL ESTATE CONTRACT WITH L
& H FARMS, LTD., FOR THE ACQUISITION OF 28.499
ACRES OF LAND IN BLACK HAWK COUNTY, IN THE
AMOUNT OF $1,336,269.46 AND UP TO $10,000 IN CLOSING
COSTS, IN EXCHANGE FOR PROPERTY IN THE SAN
MARNAN TIF DISTRICT, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Exchange Agreement and Assignment of Real Estate Contract, dated May 3, 2021, for
the acquisition of 28.499 acres of land in Black Hawk County, in the amount of $1,336,269.46
and up to $10,000 in closing costs, in exchange for property in the San Marnan TIF District, and,
legally described as follows:
A 56.8383% INTEREST IN THE FOLLOWING DESCRIBED REAL ESTATE:
"THE NORTHWEST QUARTER (NW 1/4) OF SECTION THIRTY-THREE (33),
TOWNSHIP EIGHTY-SEVEN (87) NORTH, RANGE THIRTEEN (13) WEST
OF THE FIFTH PRINCIPAL MERIDIAN, IN BLACK HAWK COUNTY,
IOWA.;
AND
DEVELOPMENT LAND PARCEL
THAT PART OF THE EAST ONE-HALF OF THE NORTHWEST QUARTER
OF SECTION NO. 9, TOWNSHIP NO. 88 NORTH, RANGE NO. 13 WEST OF
THE FIFTH PRINCIPAL MERIDIAN IN BLACK HAWK COUNTY, IOWA
LYING SOUTHERLY OF HIGHWAY U.S. NO. 520 AS DESCRIBED IN 539
LD 996, EXCEPT THAT PART CONVEYED TO THE STATE OF IOWA IN
DOC. #2006-18278 AND EXCEPT THE SOUTH 103.6 FEET THEREOF
CONVEYED TO THE CITY OF WATERLOO IN DOC. #202000016154.
SUBJECT TO EASEMENTS, RESTRICTIONS, COVENANTS, ORDINANCES
AND LIMITED ACCESS PROVISIONS OF RECORD AND NOT OF
RECORD.
between L & H Farms, Ltd., and the City of Waterloo, Iowa, is hereby approved.
PASSED AND ADOPTED this 3rd day of May 2020.
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Quentin Hart, Mayor
ATTEST:
Resolution No. 2021-289
Page 2
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Kelley Felchle
City Clerk
CERTIFICATE
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2021-289 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 3rd day of May 2021.
Witness my hand and seal of office this 3rd day of May 2021.
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Kelley Felchle
City Clerk
SEAL