HomeMy WebLinkAbout2005-344-04.25.2005 n
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This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
street, Waterloo, Iowa.
RESOLUTION NO. 2005-344
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RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH POYNETTE DEVELOPMENT LLC AND DIRECTING
EXECUTION OF SAID AGREEMENT BY MAYOR.
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s � BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
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that the Development Agreement dated April 25, 2005, for sale and
N conveyance for $1. 00 a 5-acre portion of Lot 12, MidPort America
dark Plat No. 2, to construct a new 16, 625 square foot FedEx
;_ Ground facility on property generally located along the northerly
w side of Airline Highway, just east of the railroad track
4 crossover, with a minimum taxable value of $1, 250, 000 . 00 and five
7 -year tax rebatements at 50 percent per year, by and between
-- Poynette Development LLC, and the City of Waterloo, Iowa, be and
L .he same is hereby approved, and the Mayor authorized to execute
j :the same in behalf of the City of Waterloo, Iowa.
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PASSED AND ADOPTED this 25th day of April, 2005 .
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Tim Hurley, M or
ATTEST:
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Nancy Eck rat, CMC
City Cler