HomeMy WebLinkAbout2021-720-11.01.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-720
RESOLUTION AUTHORIZING THE ASSIGNMENT OF
REBATES TO CEDAR RIVER TRAILS APARTMENTS, LLC, IN
CONJUNCTION WITH A DEVELOPMENT AGREEMENT WITH
DOLLY JAMES, LLC, ORIGINALLY APPROVED ON JANUARY
30, 2012, FOR PROPERTY LOCATED AT 820-914 SYCAMORE
STREET.
WHEREAS, Dolly James, LLC entered into a Development Agreement, originally
approved January 30, 2012, with the City of Waterloo, for the development of property located at
820-914 Sycamore Street, 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,
Cedar River Trails Apartments, 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 located at 820-914 Sycamore
Street, to Cedar River Trails Apartments, LLC, are hereby approved.
PASSED AND ADOPTED this 1st day of November 2021.
ATTEST:
F4Jig,
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. 2021-720 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