HomeMy WebLinkAbout2021-719-11.01.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-719
RESOLUTION AUTHORIZING ASSIGNMENT OF REBATES
TO LMV, LLC, IN CONJUNCTION WITH A DEVELOPMENT
AGREEMENT WITH BCS PROPERTIES, LLC, ORIGINALLY
APPROVED ON NOVEMBER 13, 2017, FOR PROPERTY
GENERALLY LOCATED AT AND ADJOINING TO 1866 W.
RIDGEWAY AVENUE.
WHEREAS, BCS Properties, LLC entered into a Development Agreement, originally
approved November 13, 2017, with the City of Waterloo, for the development of property generally
located at and adjoining to 1866 W. Ridgeway Avenue, and
WHEREAS, the developer was given tax rebates for the added value of the project, and
WHEREAS, the property has been sold and the Development Agreement states that
assignment of tax rebates is eligible and that the Assignment of Rebates will allow the new owner,
LMV, LLC to receive the tax rebates.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the Assignment of Rebates for properties generally located at and
adjoining to 1866 W. Ridgeway Avenue, to LMV, LLC, are hereby approved.
PASSED AND ADOPTED this 1st day of November 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 No. 2021-719 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 1st day of November 2021.
Witness my hand and seal of office this 1st day of November 2021.
SEAL
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Kelley Felchle, City Clerk