HomeMy WebLinkAbout2005-631-07.18.2005 71 c
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This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
J RESOLUTION NO. 2005-631
RESOLUTION APPROVING AND AUTHORIZING
s EXECUTION OF A DEVELOPMENTAL AGREEMENT
BETWEEN CEDAR VALLEY RESTORATION &
DEVELOPMENT AND THE CITY OF WATERLOO.
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c WHEREAS, Cedar Valley Restoration & Development proposes to
c r-idevelop property in the Rath Urban Renewal and Redevelopment Plan
';' Area, and
,_ WHEREAS, City of Waterloo believes the development of
fordable housing and redevelopment of the Rath Urban Renewal and
Redevelopment Plan Area is beneficial to the City as a whole, and
-4.r WHEREAS, Cedar Valley Restoration & Development and City of
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, 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 Rath Urban Renewal and
Redevelopment Plan, and
WHEREAS, the City Council for the City of Waterloo, Iowa, has
considered the Developmental 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 Developmental Agreement between
Cedar Valley Restoration & Development and the City of Waterloo,
Iowa, a copy of which is hereto attached, is hereby approved, and
the Mayor is hereby authorized to execute said Agreement on behalf
of the City of Waterloo, Iowa.
ADOPTED this 18th day of July, 2005 .
Tim Hurley, yor
ATTEST:
Nancy Eckert, CMC
City Clerk