HomeMy WebLinkAbout01.31.2002January 31, 2002
Hall
Th
e Council of the City of Waterloo, Iowa, met in Special
Ses ion at CityMayor John Council
R.
Chambers, Waterloo, LQwd, at 8:30 a.m., on Thursday,
JanuRooff in the Chair. Roll Call: Berry, Welper, Greenwood, Clark, Jordan, Hurley, Getty.
116420 - Jordan/Berry
that the Agenda, as proposed, for the Special Session on Thursday, January 31,
2002, at 8:30 a.m., be accepted and approved. Ayes: Seven. Motion carried.
116421 - Jordan/Berry
that copies of the Call for the Special Session be received and placed on file.
Ayes: Seven. Motion carried.
116422 - Don Temeyer, City Planner, stated that the Development Agreement allows the
Waterloo Development Corporation to actually build and manage the athletic
building. The city will be property owner and will have to approve
specifications, etc. The Waterloo Development Corporation has signed a
Management Agreement with Brown Hexum. Mr. Temeyer stated the city is asking
for $28 million in Vision Iowa funds.
Michelle Weidner, Chief Financial Officer, stated that Dan Watters is President
of the Waterloo Development Corporation. Firstar Bank has committed financing
III of co
nstruction of the Cedar Valley Athletic Club. Firstar Bank has agreed to
sign off on a $5 million loan, but they would like to get all the banks
involved in the project. Ms. Weidner stated that all the agreements and
financing are in place. John Deere has submitted a letter of support, a letter
has been received from James Levy, President of Newbury Development, calling
the Riverfront Renaissance Plan one of the most exciting housing projects in
the state, and a letter from Ken Lockard committing $15 million to develop an
office park.
Mayor Rooffstated that the agreements and letters of support were mailed over
night. to Vision Iowa, and we asked to be put on the February agenda.
Ms. Weidner stated that Larry Burger, Vice President of Speer Financial, Inc.
submitted a letter of support. Mr. Burger is proposing refinancing of the
city's general obligation bonds, which is scheduled for the first part of
March.
Getty/Hurley
that "Resolution approving Development Agreement with Waterloo Development
Corporation be adopted and Mayor and City Clerk authorized to execute same.
Ayes: Seven.
Resolution adopted and upon approval by Mayor assigned No. 2002-57.
116423 - Getty/Jordan
that the council adjourn at 9:25 a.m. Ayes: Seven. Motion carried.
r
Nancy `'ckert
City Clerk