HomeMy WebLinkAbout2009-1129-11/16/2009This Resolution prepared by Carol Failor, Deputy City Clerk, 715
Mulberry Street, Waterloo, Iowa.
RESOLUTION NO. 2009-1129
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH MBAK PROPERTIES LLC (BEECHER AND
KIMBALL) AND DIRECTING EXECUTION OF SAID
AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated November 16, 2009, for
development of a 12,500 square foot professional office building
on a 1.25 -acre site generally located at the southeast corner of
Hurst Drive and San Marnan Drive, with a new minimum taxable
value of $1,658,000.00, and tax rebates for seven years at 100
percent and an 8th year at 36 percent, by and between MBAK
Properties LLC (Beecher and Kimball) of Waterloo, Iowa and the
City of Waterloo, Iowa, be and the same is hereby approved, and
the Mayor and Deputy City Clerk authorized to execute the same in
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 16th day of November, 2009.
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Tim Hurley, Mayor
ATTEST:
aro!FaM3r, Deputy City Clerk