HomeMy WebLinkAbout2021-710-11.01.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, 319-291-4323.
RESOLUTION NO. 2021-710
RESOLUTION SETTING DATE OF PUBLIC HEARING AS
NOVEMBER 15, 2021, TO AUTHORIZE THE SALE AND
CONVEYANCE OF PROPERTY LOCATED NORTHEAST
OF THE LEVERSEE ROAD AND LAKE STREET
INTERSECTION, TO ZYDECO INVESTMENTS, LLC (FOR
CPM PLANT), IN THE AMOUNT OF $1,170,000, APPROVE A
DEVELOPMENT AGREEMENT INCLUDING GRANT FUNDS,
OPTION FOR ACQUISITION OF LAND, AND TAX REBATES
FOR FIFTEEN YEARS AT FIFTY PERCENT, AND MINIMUM
ASSESSMENT AGREEMENT AT $8,000,000, FOR THE
DEVELOPMENT OF A 170,000 SQUARE FOOT
BUILDING, AND INSTRUCT CITY CLERK TO PUBLISH
NOTICE.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA, AS
FOLLOWS:
Section 1. That the Council of the City of Waterloo, Iowa shall meet in the Harold E.
Getty Council Chambers at City Hall, Waterloo, Iowa at 5:30 p.m. on the 15th day of November
2021, to authorize the sale and conveyance of property located northeast of the Leversee Road
and Lake Street intersection, to Zydeco Investments, LLC (for CPM plant), in the amount of
$1,170,000, approve a Development Agreement including grant funds, option for acquisition of
land, and tax rebates for fifteen years at fifty percent, and Minimum Assessment Agreement at
$8,000,000, for the development of a 170,000 square foot building.
Section 2. That the City Clerk is hereby directed to publish notice of the time and place
of said hearing in the Waterloo Courier.
PASSED AND ADOPTED this 1st day of November 2021.
DIGITALLY
SIGNED
Quentin Hart, Mayor
ATTEST:
Kelley Felchle, City Clerk