HomeMy WebLinkAbout2021-341-05.17.2021(RECORDED) IIII II IIII I IIII II IIIIIIIIIIIIIIII I II
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Recorded: 06/17/2021 at 10:50:26 AM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2021-00026624
• Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-341
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH CRYSTAL DISTRIBUTION SERVICES, INC. AND CITY
OF WATERLOO FOR A NEW 100,000 SQ. FT. COLD
STORAGE FACILITY, WITH A MINIMUM ASSESSMENT
AGREEMENT ADDING $10,000,000 TO THE CURRENT
ASSESSED VALUE OF SITE, AND CITY INCENTIVES OF
ACQUIRING LAND/BUILDINGS ON CAMPUS AND TAX
REBATES AT 10 YEARS AT 70 PERCENT, AND
AUTHORIZING THE MAYOR AND CITY CLERK EXECUTE
SAID DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development and Minimum Assessment Agreement dated May 17, 2021, between
Crystal Distribution Services, Inc. and the City of Waterloo, Iowa, for a new 100,000 sq. ft. cold
storage facility,with a Minimum Assessment Agreement adding$10,000,000 to the current
assessed value of site, and City incentives of acquiring land/buildings on campus and tax rebates
at 10 years at 70 percent, is hereby approved, and the Mayor and City Clerk are authorized and
directed to execute said document on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 17th day of May 2021.
Qve,14'i4
Quentin Hart, Mayor
ATTEST:
Keller Felchle
Kelley Felchle, City Clerk
CERTIFICATE
I,Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2021-341 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 17th day of May 2021.
Witness my hand and seal of office this 17th day of May 2021.
Keller 7-elchle x; p
Kelley Felchle, City Clerk
SEAL
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