HomeMy WebLinkAbout2000-270-05.15.2000 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2000-270
RESOLUTION APPROVING AND AUTHORIZING EXECUTION
OF A DEVELOPMENTAL AGREEMENT BETWEEN CHARLES
AND JOANNA LANDAU DBA POLAR BEAR INVESTMENTS
AND THE CITY OF WATERLOO.
WHEREAS, Charles and Joanna Landau dba Polar Bear Investments
proposes to construct a two-story building located on 4th Street
with tax rebatement for ten years at 100
percent,
service levy, with an estimated tax rebate of less the debt
year, estimated construction cost of $13, 940 . 00 per
$
assessment of $400, 000 . 00 until January 1 2016, and �a $40,n000 . 00
grant, and
WHEREAS, Charles and Joanna Landau dba Polar Bear Investments
and the City of Waterloo, Iowa, feel it is in the best interest of
both parties to execute a Development Agreement between the
parties
regarding the development and use of said real estate as well as
other matters, and
WHEREAS, the 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 Downtown Waterloo Urban
Renewal and Redevelopment Plan, and
WHEREAS, the City Council of the City of Waterloo, Iowa, has
considered the Developmental Agreement, a copy of which is hereto
attached, and deems it 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 Charles
and Joanna Landau dba Polar Bear Investments and the City of
Waterloo, Iowa, a copy of which is hereto attached, is hereby
approved and the Mayor and City Clerk are hereby authorized to
execute said Agreement on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 15th day of May, 2000.
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JO n R. "ooff, May•L� ,
ATTEST: /
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Nancy Eck t City Clerk