HomeMy WebLinkAbout2005-543-06.20.2005 r,
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crThis Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
711
Street, Waterloo, Iowa.
J s
RESOLUTION NO. 2005-543
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A DEVELOPMENT AGREEMENT BETWEEN
s o CRITERION, INC. AND THE CITY OF WATERLOO,
J IOWA.
ot s WHEREAS, Criterion Inc. proposes to expand their existing
c-ioperation with an approximate 8, 800 square foot addition with
approximately $155, 000 in new taxable value in the MidPort America
4 C=Business Park Development Area, and
WHEREAS, Criterion Inc . and the City of Waterloo, Iowa, feel
fit is in the best interest of both parties to execute a
Developmental Agreement between the parties regarding the
development and use of said real estate as well as other maters,
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 MidPort America Business
Park Development Area Plan, and
WHEREAS, the City Council of the City of Waterloo, Iowa, has
considered the Developmental Agreement, a copy of which is hereto
attached, and deems it 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 Developmental Agreement between
Criterion 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 20th day of June, 2005 .
/�iLit
Tim Hurley, Mayor
ATTEST:
Nancy Ecke , CMC
City Clerk