HomeMy WebLinkAbout2021-742-11.15.2021Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2021-742
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH ZYDECO INVESTMENTS, LLC,
INCLUDING GRANT FUNDS OF $1,270,000.00, OPTION FOR
ACQUISITION OF LAND, TAX REBATES FOR FIFTEEN
YEARS AT FIFTY PERCENT, AND A MINIMUM
ASSESSMENT AGREEMENT OF $8,000,000, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated November 15, 2021, between Zydeco Investments, LLC
and the City of Waterloo, in conjunction with development of a new facility of 170,000 square
feet on the west side of the Waterloo Regional Airport, in the new Waterloo Air and Rail Park,
including grant funds of $1,270,000.00, option for acquisition of land, tax rebates for fifteen
years at fifty percent, and a Minimum Assessment Agreement of $8,000,000.00, is hereby
approved, and the Mayor and City Clerk are authorized and directed to execute said document on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 15th day of November 2021.
ATTEST:
DIGITALLY
SIGNED
Kelley Felchle, City Clerk
CERTIFICATE
DIGITALLY
SIGNED
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 2021-742, as passed and adopted by the
Council of the City of Waterloo, Iowa, on the 15th day of November 2021.
SEAL
4/414
Witness my hand and seal of office this 15th day of November 2021
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Kelley Felchle, City Clerk