HomeMy WebLinkAbout2005-402-05.09.2005 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2005-402
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA APPROVING A RISE
APPLICATION FOR IMMEDIATE OPPORTUNITY
FUNDING; DESIGNATING THE MAYOR AS THE
OFFICIAL REPRESENTATIVE OF THE CITY,
AUTHORIZING THE MAYOR TO AFFIX HIS SIGNATURE
TO SAID APPLICATION AND PROVIDING FINANCIAL
ASSURANCES IN CONJUNCTION WITH SAME, AND
ACCEPTING RESPONSIBILITY FOR NORTH PARK
AVENUE.
WHEREAS, providing transportation access in the Sunnyside
Heights Office Complex is an integral component of the City of
Waterloo' s efforts to retain and attract quality jobs to the
area; and
WHEREAS, VGM Company intends to expand its operation in the
Sunnyside Heights Office Complex with the construction of a
51, 000 square foot building, which will result in the creation of
140 jobs over the next two years; and
WHEREAS, the construction of the proposed roadway
improvements has been identified as a necessary improvement to
the planned expansion of VGM Company; and
WHEREAS, the connection of proposed roadway to Ansborough
Avenue is critical to the overall development of the Sunnyside
Heights Office Complex; and
WHEREAS, failure to provide adequate access to VGM Company' s
building expansion would result in the loss of jobs; and
WHEREAS, it is in the best interest of the City of Waterloo,
Iowa, to avail itself of financial assistance through the RISE
Program as administered by the Iowa Department of Transportation
(IDOT) ; and
WHEREAS, the RISE application best addresses the needs of
the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, as follows :
1 . The RISE application for the necessary acquisition and
construction of the proposed roadway improvements is
hereby approved and endorsed by the City Council of
Waterloo, Iowa as necessary to meet current needs and
to assist in the expansion of jobs related to VGM
Company and the future development of the Sunnyside
Heights Office Complex.
2 . The proposed roadway improvements will be dedicated to
public use and will be adequately maintained by the
City of Waterloo.
3 . The City assures the IDOT that funds for a local match
of 50 percent of the eligible project cost have been
committed to the RISE projec . The City of Waterloo
commits up to $482 , 655 . 00 in local match toward the
$965, 311 , 00 total cost of the project .
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71Rea-otu.' .ion No. 2005-402
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s The Mayor is hereby designated as the official
_ v representative of the City and is further hereby
jn `- ¢ directed and authorized to affix his signature to said
>, a application and certain State assurances in conjunction
with same .
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s s =-P1 SSED AND ADOPTED this 9th day of May, 2005 .
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ATTEST c�
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NancyEckert, CMC
City Clerk
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