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HomeMy WebLinkAbout2022-597- 09.19.2022 (RECORDED) IIIIII I I IIIII IIIII IIIII IIIII IIIII IIIII IIIllhIIIllhll IIII I1 Doc ID: 011858530002 Type: GEN Recorded: 11/02/2022 at 09:10:19 AM Fee Amt: $12.00 Page 1 of 2 Black Hawk County Iowa SANDIE L. SMITH RECORDER File2023-00007091 Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2022-597 RESOLUTION APPROVING A DEVELOPMENT AGREEMENT WITH 3 STOOGES, LLC, FOR THE CONSTRUCTION OF A NEW 49,920 SQUARE FOOT INDUSTRIAL BUILDING LOCATED AT 520 W. PARKER STREET, WITH A DEVELOPMENT GRANT IN THE AMOUNT OF $59,887.00 AND A MINIMUM ASSESSMENT AGREEMENT IN THE AMOUNT OF $2,456,910.00, AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE SAID DOCUMENTS. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA, that the Development Agreement dated September 19, 2022, between 3 Stooges, for the construction of a new 49,920 square foot industrial building located at 520 W. Parker Street, with a development grant in the amount of$59,887.00 and a Minimum Assessment Agreement in the amount of$2,456,910.00, and legally described as follows: ALL THAT PART OF THE NORTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION NO. FOURTEEN (14), TOWNSHIP NO. EIGHTY- NINE (89)NORTH, RANGE NO. THIRTEEN(13)WEST OF THE FIFTH (5TH) PRINCIPAL MERIDIAN IN THE CITY OF WATERLOO, IOWA, THAT LIES NORTH OF THE NORTH LINE OF PARKER STREET AND NORTHEASTERLY OF THE NORTHEASTERLY LINE OF THE RIGHT-OF- WAY OF THE ILLINOIS CENTRAL GULF RAILROAD COMPANY FORMERLY THE ILLINOIS CENTRAL RAILROAD AND WEST OF THE WEST LINE OF THE RIGHT-OF-WAY OF THE WATERLOO RAILROAD COMPANY FORMERLY THE WATERLOO, CEDAR FALLS AND NORTHERN RAILROAD, EXCEPT THE NORTH ONE HUNDRED FIFTY (150) FEET THEREOF 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 19th day of September 2022. Quantin l tart th E,r siceFo Quentin Hart, Mayor ATTEST: 7(errey rFefchCe Kelley Felchle, City Clerk (ii) Resolution 2022-597 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. 2022-597 as passed and adopted by the City Council of the City of Waterloo, Iowa, on the 19th day of September 2022. Witness my hand and seal of office this 19th day of September 2022. �ecrey Eefchfe SIGNED Kelley Felchle, City Clerk SEAL rr. * 01 Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2022-597 RESOLUTION APPROVING A DEVELOPMENT AGREEMENT WITH 3 STOOGES, LLC, FOR THE CONSTRUCTION OF A NEW 49,920 SQUARE FOOT INDUSTRIAL BUILDING LOCATED AT 520 W. PARKER STREET, WITH A DEVELOPMENT GRANT IN THE AMOUNT OF $59,887.00 AND A MINIMUM ASSESSMENT AGREEMENT IN THE AMOUNT OF $2,456,910.00, AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE SAID DOCUMENTS. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA, that the Development Agreement dated September 19, 2022, between 3 Stooges, for the construction of a new 49,920 square foot industrial building located at 520 W. Parker Street, with a development grant in the amount of $59,887.00 and a Minimum Assessment Agreement in the amount of $2,456,910.00, and legally described as follows: ALL THAT PART OF THE NORTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION NO. FOURTEEN (14), TOWNSHIP NO. EIGHTY- NINE (89) NORTH, RANGE NO. THIRTEEN (13) WEST OF THE FIFTH (5TH) PRINCIPAL MERIDIAN IN THE CITY OF WATERLOO, IOWA, THAT LIES NORTH OF THE NORTH LINE OF PARKER STREET AND NORTHEASTERLY OF THE NORTHEASTERLY LINE OF THE RIGHT-OF- WAY OF THE ILLINOIS CENTRAL GULF RAILROAD COMPANY FORMERLY THE ILLINOIS CENTRAL RAILROAD AND WEST OF THE WEST LINE OF THE RIGHT-OF-WAY OF THE WATERLOO RAILROAD COMPANY FORMERLY THE WATERLOO, CEDAR FALLS AND NORTHERN RAILROAD, EXCEPT THE NORTH ONE HUNDRED FIFTY (150) FEET THEREOF 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 19th day of September 2022. Quentin Hart, Mayor ATTEST: Kelley Felchle, City Clerk Resolution 2022-597 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. 2022-597 as passed and adopted by the City Council of the City of Waterloo, Iowa, on the 19th day of September 2022. Witness my hand and seal of office this 19th day of September 2022. SEAL Illl� 7(eC&ey FeCcfiCe murmur SIGNED Kelley Felchle, City Clerk