HomeMy WebLinkAbout2004-236-04.19.2004 ;4
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HTh4s- esolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
S o eee, Waterloo, Iowa.
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HC? 0 RESOLUTION NO. 2004-236
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0 cas RESOLUTION APPROVING DEVELOPMENT AGREEMENT
t-J WITH FERGUSON ENTERPRISES, INC. AND DIRECTING
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> b EXECUTION OF SAID AGREEMENT BY MAYOR.
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Ott BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
w tlKas the Development Agreement dated April 19, 2004, to build a
6( 300 square foot distribution center generally located
w-s terly of the northwest corner of Independence Avenue and North
Elk--Run Road and southerly of Martin Luther King Jr. Drive, with
tl ' city making a grant for the purchase price estimated at
$2 33 , 500 . 00 and $600, 000 . 00 for grading the property, with 50
peiOnt tax rebates for ten years, construction of a railroad
s if needed and various utility companies will bring sewer and
wa'tsr lines and all utilities to the site at no cost to the
ccipany, by and between Ferguson Enterprises, Inc . , and the City
of paterloo, Iowa, be and the same is hereby approved, and the
Mayor authorized to execute the same in behalf of the City of
Watkrloo, Iowa.
cD PASSED AND ADOPTED this 19th day of April, 2004 .
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Tim Hurley, or
ATTEST:
Nancy Eckerei City Clerk