HomeMy WebLinkAbout2021-723-11.01.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, 319-291-4323.
RESOLUTION NO. 2021-723
RESOLUTION APPROVING THE MAIN STREET IOWA
PROGRAM AGREEMENT, NO. G300-MSI-50 BETWEEN THE
IOWA ECONOMIC DEVELOPMENT AUTHORITY (IEDA),
THE CITY OF WATERLOO AND CEDAR SKYLINE
CORPORATION/DBA MAIN STREET WATERLOO, FOR THE
PURPOSE OF CONTINUING THE MAIN STREET PROGRAM
IN WATERLOO FOR A PERIOD OF TWENTY-FOUR (24)
MONTHS, APPROVING A COMMITMENT TO PROVIDE
FUNDING FROM DOWNTOWN TIF AND BOND FUNDS
AND HOTEL/MOTEL DISCRETIONARY FUND PROCEEDS
TO THE MAIN STREET WATERLOO PROGRAM, AND
COMMITTING TO APPOINT A CITY OFFICIAL TO
REPRESENT THE CITY ON THE LOCAL MAIN STREET
GOVERNING BOARD OF DIRECTORS, AND AUTHORIZING
THE MAYOR TO EXECUTE SAID DOCUMENT.
WHEREAS, Agreement No. G300-MSI-50, between the Iowa Economic Development
Authority, Cedar Skyline Corporation/DBA Main Street Waterloo and the City of Waterloo, for
the purpose of continuing the Main Street Iowa program in Waterloo for a period of 24 months
has been purposed, and
WHEREAS, this Agreement is pursuant to contractual agreements between Main Street
America and the Iowa Economic Development Authority to assist in the revitalization of the
designated Main Street project area of Waterloo Iowa, and
WHEREAS, the City Council of Waterloo endorses the goal of economic revitalization of
the designated Main Street District within the context of preservation and rehabilitation of its
historic buildings and supports the continuation of the Main Street Approach TM as developed by
Main Street America and espoused by Main Street Iowa.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, meeting in regular session on November 1, 2021, hereby agrees to support both financially
and philosophically, for a period of 24 months, via Agreement No. G300-MSI-50, the work of
Main Street Waterloo, designates the Main Street Board to supervise the Executive Director, and
commits to appointing a city official to represent the City on the local Main Street Board. The
source of funds to support Main Street Waterloo will be Tax Increment Financing and the City's
Hotel Motel Discretionary fund.
PASSED AND ADOPTED this 1' day of November 2021.
CZv2/7-- i/1 i IG.r'--1-
DIGITALLY
SIGNED
di
Quentin Hart, Mayor
ATTEST:
g Ycige-
Kelley Felchle, City Clerk
SEAL