HomeMy WebLinkAbout2021-528-08.02.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-528
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH GATEWAY REAL ESTATE HOLDINGS,
LLC, IN CONJUNCTION WITH THE CONSTRUCTION OF A
NEW 12,885 SQUARE -FOOT RETAIL BUILDING AT THE
NORTHWEST CORNER OF FLETCHER AND UNIVERSITY
AVENUES, A $1.7 MILLION INVESTMENT, WITH FIFTY
PERCENT TAX REBATE FOR TEN YEARS, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated August 2, 2021, between Iowa Gateway Real Estate
Holdings, LLC and the City of Waterloo in conjunction with the construction of a new 12,885
square -foot retail building at the northwest corner of Fletcher and University Avenues, a $1.7
million investment, with fifty percent tax rebate for ten years, 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 2nd day of August 2021.
ATTEST:
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Kelley Felchle, City Clerk
CERTIFICATE
Quentin Hart, Mayor
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 2021-528, as passed and adopted by the
Council of the City of Waterloo, Iowa, on the 2nd day of August 2021.
Witness my hand and seal of office this 2nd day of August 2021
Kelley Felchle, City Clerk
SEAL