HomeMy WebLinkAbout2005-604-07.11.2005 C
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ZT1iis Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
7-1 —Street, Waterloo, Iowa.
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RESOLUTION NO. 2005-604
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RESOLUTION APPROVING DEVELOPMENT AGREEMENT
s j WITH POWERS MANUFACTURING COMPANY AND
DIRECTING EXECUTION OF SAID AGREEMENT BY
MAYOR.
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BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
,L, ''that the Development Agreement dated July 11, 2005, for sale and
conveyance for $1 . 00 approximately 1 . 6 acres of property
Hgenerally located at the northeast corner of Sycamore and East
`+ =1111th Streets, for construction of an additional 27, 000 square
foot industrial building near their site at 1340 Sycamore Street,
with a minimum taxable value of $1, 200, 000 . 00 and tax rebatements
far five years, by and between Powers Manufacturing Company, and
H the City of Waterloo, Iowa, be and the same is hereby approved,
-and the Mayor authorized to execute the same in behalf of the
City of Waterloo, Iowa .
PASSED AND ADOPTED this llth day of July, 2005 .
.
im Hurley, ayor
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Ya/4Eck t, CMC
City Cler