HomeMy WebLinkAbout2022-628-10.03.2022Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, 319-291-4323.
RESOLUTION NO. 2022-628
RESOLUTION GRANTING THE IOWA ECONOMIC
DEVELOPMENT AUTHORITY CERTAIN FINANCIAL
ASSURANCES IN CONJUNCTION WITH THE DESTINATION
IOWA GRANT APPLICATION.
WHEREAS, the total estimated cost of the project is $14,044,050 for the Cedar Valley
River Experience;
WHEREAS, the City of Cedar Falls and City of Waterloo are applying for $5,617,620 in
Destination Iowa grant funding assistance for this project;
WHEREAS, the City of Waterloo portion of the project is estimated to be $13,477,856;
WHEREAS, the City of Waterloo will match the portion of the Destination Iowa grant
request relative to Cedar Falls projects with up to 60% local funds which may include City,
County, or private fundraising;
WHEREAS, said Program funds are part of the Destination Iowa funds provided to the
State of Iowa through the American Rescue Plan;
WHEREAS, this project was identified as part of the Black Hawk County Water Trails
Master Plan and Cedar Valley Placemaking Study.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa that 60% local matching funds are herewith committed toward this project.
PASSED AND ADOPTED this 3rd day of October 2022.
Quentin Hart, Mayor
ATTEST:
LeAnn M. Even, CMC, IaCMC
Deputy City Clerk
SEAL
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