HomeMy WebLinkAbout1999-141-03.22.1999 07, GS mcDQ
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SThts-'lialution prepared by Nancy Eckert, City Clerk, 715 Mulberry
aStr�egt Waterloo, Iowa.
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" s o RESOLUTION NO. 1999-141
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a_ t-I > n a RESOLUTION APPROVING AND AUTHORIZING
1- EXECUTION OF A DEVELOPMENT AGREEMENT BETWEEN
(-..) ("HR CARDINAL CONSTRUCTION, INC. AND THE CITY OF
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`L WHEREAS, Cardinal Construction, Inc. , proposes to develop 8 . 4
acres of property for the GMAC Project generally located on San
Marnan Drive westerly of Tower Technology Park, and
WHEREAS, Cardinal Construction, Inc. 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
WHEREAS, the City Council of the City of Waterloo, Iowa, has
considered the Development 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 Development Agreement by and
between Cardinal Construction, Inc. 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 22nd day of March, 1999.
John . Ro f, Mayor
ATTEST:
Nancy Ecke , City Clerk