HomeMy WebLinkAbout2005-477-06.06.2005 71 cp
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This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2005-477
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0 RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A DEVELOPMENT AGREEMENT BETWEEN
j CARDINAL CONSTRUCTION, INC. AND THE CITY OF
s x v WATERLOO, IOWA.
0 WHEREAS, Cardinal Construction, Inc . proposes to develop
property in the Downtown Waterloo Urban Renewal and Redevelopment
o PT.n Area, and
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WHEREAS, Cardinal Construction, Inc . and the City of
-4- Waterloo, Iowa, believe it is in the best interest of both parties
to- execute a Development Agreement between them regarding the
development and use of said real estate as well as other matters,
and
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 City of Waterloo, Iowa, has
considered the Development Agreement, a copy of which is hereto
attached, and deems it to 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
Cardinal Construction, Inc. 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.
PASSED AND ADOPTED this 6th day of June, 2005 .
77C;;IV--411"f:
Tim Hurley, ayor
ATTEST:
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Nancy Ecker , CMC
City Clerk