HomeMy WebLinkAbout2022-541-08.15.2022 (RECORDED) IIIIllI II 1101 11111 111111111 IIIII 1111 lI0
I II
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Recorded: 08/22/2022 at 03:37:23 PM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2023-00003130
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2022-541
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH MID COUNTRY PROPERTY
MANAGEMENT, LLP, WITH TAX REBATES OF FIVE (5)
YEARS AT 50 PERCENT AND FOUR (4) YEARS AT 23
PERCENT, AND A MINIMUM ASSESSMENT AGREEMENT
IN THE AMOUNT OF $1,553,320.00 FOR THE
CONSTRUCTION OF A NEW 18,000 SQUARE FOOT OFFICE,
SHOWROOM AND SHOP, LOCATED AT 4718 SERGEANT
ROAD, 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 August 15, 2022, between Country Property
Management, LLP and the City of Waterloo, Iowa, with tax rebates of five (5) years at 50 percent
and four(4) years at 23 percent, and a Minimum Assessment Agreement in the amount of
$1,553,320.00 for the construction of a new 18,000 square foot office, showroom and shop,
located at 4718 Sergeant Road and legally described as follows:
ALL THAT PART OF THE SOUTH HALF OF THE NORTHWEST
FRACTIONAL QUARTER OF THE SOUTHWEST FRACTIONAL QUARTER
OF SECTION NO. SEVEN(7), TOWNSHIP NO. EIGHTY-EIGHT (88)
NORTH, RANGE NO. THIRTEEN (13) WEST OF THE FIFTH PRINCIPAL
MERIDIAN, BLACK HAWK COUNTY, IOWA, AND OF THE SOUTH HALF
OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER AND
THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF
SECTION NO. TWELVE (12), TOWNSHIP NO. EIGHTY-EIGHT (88)
NORTH, RANGE NO. FOURTEEN (14) WEST OF THE FIFTH PRINCIPAL
MERIDIAN, BLACK HAWK COUNTY, IOWA, LYING NORTHWESTERLY
OF A LINE PARALLEL WITH AND FIFTY (50) FEET NORTHWESTERLY,
MEASURED AT RIGHT ANGLES, FROM THE CENTER LINE OF THE
MAIN TRACK OF THE CHICAGO AND NORTH WESTERN
TRANSPORTATION COMPANY (FORMERLY THE CHICAGO GREAT
WESTERN RAILWAY COMPANY) RUNNING FROM OELWEIN TO DES
MOINES, AND LYING EASTERLY OF A LINE PARALLEL WITH AND
FIFTY (50) FEET EASTERLY MEASURED AT RIGHT ANGLES, FROM
THE CENTER LINE OF THE MAIN TRACK OF SAID TRANSPORTATION
COMPANY'S CEDAR FALLS BRANCH LINE
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 15`"day of August 2022.
Que, I L
SOB
Quentin Hart, Mayor
ATTEST:
�eccey Eecchfe
SIGNED'
Kelley Felchle, City Clerk
04, 4 (i.;
Resolution 2020-541
Page 2
CERTIFICATE
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. 2022-541 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 15th day of August 2022.
Witness my hand and seal of office this 15`h day of August 2022.
7(ef-fey Eefchle tY
SIGNED
Kelley Felchle, City Clerk
SEAL
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Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2022-541
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH MID COUNTRY PROPERTY
MANAGEMENT, LLP, WITH TAX REBATES OF FIVE (5)
YEARS AT 50 PERCENT AND FOUR (4) YEARS AT 23
PERCENT, AND A MINIMUM ASSESSMENT AGREEMENT
IN THE AMOUNT OF $1,553,320.00 FOR THE
CONSTRUCTION OF A NEW 18,000 SQUARE FOOT OFFICE,
SHOWROOM AND SHOP, LOCATED AT 4718 SERGEANT
ROAD, 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 August 15, 2022, between Country Property
Management, LLP and the City of Waterloo, Iowa, with tax rebates of five (5) years at 50 percent
and four (4) years at 23 percent, and a Minimum Assessment Agreement in the amount of
$1,553,320.00 for the construction of a new 18,000 square foot office, showroom and shop,
located at 4718 Sergeant Road and legally described as follows:
ALL THAT PART OF THE SOUTH HALF OF THE NORTHWEST
FRACTIONAL QUARTER OF THE SOUTHWEST FRACTIONAL QUARTER
OF SECTION NO. SEVEN (7), TOWNSHIP NO. EIGHTY-EIGHT (88)
NORTH, RANGE NO. THIRTEEN (13) WEST OF THE FIFTH PRINCIPAL
MERIDIAN, BLACK HAWK COUNTY, IOWA, AND OF THE SOUTH HALF
OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER AND
THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF
SECTION NO. TWELVE (12), TOWNSHIP NO. EIGHTY-EIGHT (88)
NORTH, RANGE NO. FOURTEEN (14) WEST OF THE FIFTH PRINCIPAL
MERIDIAN, BLACK HAWK COUNTY, IOWA, LYING NORTHWESTERLY
OF A LINE PARALLEL WITH AND FIFTY (50) FEET NORTHWESTERLY,
MEASURED AT RIGHT ANGLES, FROM THE CENTER LINE OF THE
MAIN TRACK OF THE CHICAGO AND NORTH WESTERN
TRANSPORTATION COMPANY (FORMERLY THE CHICAGO GREAT
WESTERN RAILWAY COMPANY) RUNNING FROM OELWEIN TO DES
MOINES, AND LYING EASTERLY OF A LINE PARALLEL WITH AND
FIFTY (50) FEET EASTERLY MEASURED AT RIGHT ANGLES, FROM
THE CENTER LINE OF THE MAIN TRACK OF SAID TRANSPORTATION
COMPANY'S CEDAR FALLS BRANCH LINE
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 August 2022.
atertan
Quentin Hart, Mayor
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
Resolution 2020-541
Page 2
CERTIFICATE
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. 2022-541 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 15th day of August 2022.
Witness my hand and seal of office this 15th day of August 2022.
Kelley Felcile
Kelley Felchle, City Clerk
SEAL