HomeMy WebLinkAbout2004-790-11.15.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2004-790
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA APPROVING A RISE APPLICATION
FOR IMMEDIATE OPPORTUNITY FUNDING; DESIGNATING
THE MAYOR AS THE OFFICIAL REPRESENTATIVE OF
THE CITY, AUTHORIZING THE MAYOR TO AFFIX HIS
SIGNATURE TO SAID APPLICATION AND PROVIDING
FINANCIAL ASSURANCES IN CONJUNCTION WITH SAME,
AND ACCEPTING RESPONSIBILITY FOR NORTH PARK
AVENUE.
WHEREAS, providing transportation access in the Tower Park
Office Complex is an integral component of the City of Waterloo' s
efforts to retain and attract quality jobs to the area; and
WHEREAS, The CBE Group Inc. intends to expand its operation in
the Tower Park Office Complex with the construction of a 20 , 000
square foot building, which will result in the creation of 219 jobs
over the next two years; and
WHEREAS, the extension of Winn Street has been identified as a
necessary improvement to the planned expansion of The CBE Group
Inc . ; and
WHEREAS, The CBE Group Inc. has received offers and incentives
from Wisconsin, Ohio and South Dakota to locate its new facility
and associated jobs; and
WHEREAS, failure to provide adequate access to the new
facility in the Tower Park Office Complex would impact The CBE
Group' s location decision, resulting in a loss of jobs to the
state; and
WHEREAS, it is in the best interest of the City of Waterloo,
Iowa, to avail itself of financial assistance through the RISE
Program as administered by the Iowa Department of Transportation
(IDOT) ; and
WHEREAS, the RISE application best addresses the needs of the
City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF COUNCIL OF THE
CITY OF WATERLOO, IOWA, as follows :
(1) The RISE application for the extension of Winn Street is
hereby approved and endorsed by the City Council of
Waterloo, Iowa as necessary to meet current needs and to
assist in the expansion of jobs related to The CBE Group
Inc . in the Tower Park Office Complex.
(2) The Winn Street Extension will be dedicated to public use
and will be adequately maintained by the City of
Waterloo .
(3) The City assures the IDOT that funds for the local match
of 20 percent of the eligible project costs have been
committed to the RISE project . The City of Waterloo
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H O Commits up to $100, 000 . 00 in local match toward the
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n t,,i o i i . N representative of the City and is further hereby directed
N H H H S -and authorized to affix his signature to said application
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