HomeMy WebLinkAbout2005-427-05.16.2005 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2005-427
RESOLUTION FIXING THE TIME AND PLACE OF HEARING
AND NOTICE TO BE GIVEN ON THE PROPOSED
DEVELOPMENT AGREEMENT WITH CARDINAL
CONSTRUCTION, INC. TO SELL AND CONVEY FOR
$1 . 00 THE GREEN SPACE SITE GENERALLY LOCATED
ADJACENT TO THE WATERLOO BUILDING, ACROSS
COMMERCIAL STREET FROM THE RAMADA HOTEL FOR
THE CONSTRUCTION OF A 15, 000 SQUARE FOOT
PROFESSIONAL OFFICE BUILDING, WITH A MINIMUM
TAXABLE VALUE OF $1, 500, 000 . 00 AND TAX
REBATEMENTS FOR TEN YEARS AT 100 PERCENT, AS
JUNE 6, 2005, AT 5 : 30 P.M. IN CITY HALL COUNCIL
CHAMBERS, WATERLOO, IOWA AND INSTRUCTING THE
CITY CLERK TO PUBLISH THE NOTICE OF HEARING.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
AS FOLLOWS :
Section 1 . That the Council of the City of Waterloo, Iowa
shall meet at City Hall Council Chambers in the City of Waterloo,
Iowa at 5 : 30 p.m. on the 6th day of June, 2005, for the purpose of
considering and acting upon a proposed development agreement with
Cardinal Construction, Inc . to sell and convey for $1 . 00 the
green space site generally located adjacent to the Waterloo
Building, across Commercial Street from the Ramada Hotel for the
construction of a 15, 000 square foot professional office
building, with a minimum taxable value of $1, 500 , 000 . 00 and tax
rebatements for ten years at 100 percent, and legally described
as follows :
A PART OF LOT 1, MILL SQUARE AND PARTS OF LOTS 21 AND
22 IN FRACTIONAL BLOCK 5 IN THE ORIGINAL PLAT ON THE
WEST SIDE OF THE CEDAR RIVER, ALL IN THE CITY OF
WATERLOO, COUNTY OF BLACK HAWK, STATE OF IOWA, MORE
PARTICULARLY DESCRIBED AS FOLLOWS :
COMMENCING AT A FOUND IRON PIN WITH YELLOW PLASTIC CAP
(CAN NOT READ NUMBER) LOCATED AT THE WESTERLY CORNER OF
LOT 4 , IN SAID MILL SQUARE; THENCE SOUTH 45° (DEGREES)
00 ' (MINUTES) 00" (SECONDS) EAST (ASSUMED BEARING FOR
THE PURPOSE OF THIS DESCRIPTION) ON THE SOUTHWESTERLY
LINE OF LOTS 4 , 3 , 2 AND 1, IN SAID MILL SQUARE (ALSO
BEING THE NORTHEASTERLY LINE OF COMMERCIAL STREET) ,
130 . 92 FEET TO THE SOUTHWESTERLY CORNER OF THE WATERLOO
BUILDING WHICH IS 79 . 04 FEET (79 . 39 FEET RECORD)
NORTHWESTERLY FROM THE WESTERLY CORNER OF LOT 22 IN
SAID FRACTIONAL BLOCK 5 IN THE ORIGINAL PLAT ON THE
WEST SIDE OF THE CEDAR RIVER, BEING THE POINT OF
BEGINNING OF THE PARCEL HEREIN DESCRIBED; THENCE NORTH
45°00 ' 00" EAST ALONG THE WALL OF THE WATERLOO BUILDING
IN THE RETAIL DEVELOPMENT AREA, 102 . 11 FEET; THENCE
SOUTH 45°02 ' 24" EAST, 14 . 61 FEET (14 . 50 FEET RECORD) ;
THENCE NORTH 44°57' 36" EAST, 16 . 16 FEET (16 . 00 FEET
RECORD) TO THE WALL OF THE PARKING RAMP; THENCE SOUTH
45°14 ' 07" EAST, ALONG THE WALL OF THE PARKING RAMP,
27 . 14 FEET; THENCE SOUTH 00°02 ' 24" EAST ALONG THE WALL
OF THE PARKING RAMP, 135 . 95 FEET ,136 . 09 FEET RECORD) ;
THENCE SOUTH 45°00' 00" WEST ALONG THE WALL OF THE
PARKING RAMP, 18 . 33 FEET; THENCE NORTH 45°00 ' 00" WEST
ALONG THE WALL OF THE PARKING RAMP, 0 . 92 FEET; THENCE
SOUTH 45°00 ' �`0" WEST ALONG THE WALL OF THE PARKING
co :7') no =; 0 H n n
77 -H n L , *71 • --I
Al >,
AO ,ED t1 n
-* D 1 ru
R:046714iCd427
t: r -j1-1 H
td 7D
t, ›.
7D CD n L-7
<r; CD 7D
CDbCD --:
PcZAMP 0 0 FEET TO THE SOUTHWESTERLY LINE OF LOT 22 , IN
FRACTIONAL BLOCK 5 IN THE ORIGINAL PLAT ON THE
•
WE gT7 SIDE OF THE CEDAR RIVER (ALSO BEING THE
-\;I&ORTFISTERLY LINE OF COMMERCIAL STREET) ; THENCE NORTH
WEST ON THE SOUTHWESTERLY LINE OF LOTS 22 AND
H IN SAID BLOCK 5 OF THE ORIGINAL PLAT OF THE WEST
, -DE OF THE CEDAR RIVER AND LOT 1 IN SAID MILL SQUARE
s (ALSO BEING THE NORTHEASTERLY LINE OF COMMERCIAL
STREET) , 137 . 05 FEET TO THE POINT OF BEGINNING.
CD
n <t • CONTAINING 11, 470 SQUARE FEET, ALL IN THE CITY OF
(.4 n1 CZ
-WATERLOO, ,E LACK HAWK COUNTY, STATE OF IOWA.
711 .77)
CD
That the City Clerk is hereby directed to publish
—
LA notice of 41-i1l: time and place of said hearing in the Waterloo
-- s
CD
PASSED AND ADOPTED this 16th day of May, 2005 .
M. 71 H CI) H • LN--
S ••7,1 •
y
77. 71
cD
Tim Hur?(:(51--Mfa(yor
ATTEST: H < L7, H
Nancy Ecke , CMC
City Clerk