HomeMy WebLinkAbout2022-762-12.19.2022 (RECORDED) 1111111111E11111111M111111111111111E111 III
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Recorded: 01/09/2023 at 06:37:04 PM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER 7
File2023-00009 / 5O
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2022-762
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH WBM, LLC, FOR THE CONSTRUCTION
OF TWO (2) COMMERCIAL BUILDINGS LOCATED WEST
OF 2843 GERALDINE ROAD, WITH A MINIMUM
ASSESSMENT AGREEMENT IN THE AMOUNT OF
$1,034,700.00, WITH REBATES OF FIVE (5) YEARS AT 50
PERCENT AND A DEVELOPMENT GRANT OF
$250,000.00 FOR PHASE I, AND REBATES OF TWO (2)
YEARS AT 50 PERCENT FOR PHASE II, 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 December 19,2022,between.WBM, LLC, for the
construction of two (2) commercial buildings located west of 2843 Geraldine Road,with a
Minimum Assessment Agreement in the amount of$1,034,700.00,with rebates of five (5)years
at 50 percent and a development grant of$250,000.00 for Phase I, and rebates of two (2)years at
50 percent for Phase II, and legally described as follows:
LOT 6, SOUTH PORT 2ND ADDITION, CITY OF WATERLOO,BLACK
HAWK COUNTY, IOWA.
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 December 2022.
Que i � OIGITdLIY;
';SlGNED�
Quentin Hart, Mayor
ATTEST:
Kelley Eerchle DIGITALLY
SIDNED i
Kelley Felchle, City Clerk
f t. - (19-)
Resolution 2022-762
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. 2022-762 as passed and adopted by the
City Council of the City of Waterloo,Iowa, on the 19LT'day of December 2022.
Witness my hand and seal of office this 19th day of December 2022.
DIDITALLY s
Kelley Felchle
Kelley Felchle, City Clerk ,
SEAL
is * 0%.
'• W
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2022-762
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH WBM, LLC, FOR THE CONSTRUCTION
OF TWO (2) COMMERCIAL BUILDINGS LOCATED WEST
OF 2843 GERALDINE ROAD, WITH A MINIMUM
ASSESSMENT AGREEMENT IN THE AMOUNT OF
$1,034,700.00, WITH REBATES OF FIVE (5) YEARS AT 50
PERCENT AND A DEVELOPMENT GRANT OF
$250,000.00 FOR PHASE I, AND REBATES OF TWO (2)
YEARS AT 50 PERCENT FOR PHASE II, 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 December 19, 2022, between WBM, LLC, for the
construction of two (2) commercial buildings located west of 2843 Geraldine Road, with a
Minimum Assessment Agreement in the amount of $1,034,700.00, with rebates of five (5) years
at 50 percent and a development grant of $250,000.00 for Phase I, and rebates of two (2) years at
50 percent for Phase II, and legally described as follows:
LOT 6, SOUTH PORT 2ND ADDITION, CITY OF WATERLOO, BLACK
HAWK COUNTY, IOWA.
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 December 2022.
Quercan 9-(4rE
Quentin Hart, Mayor
ATTEST:
Kelley Felchle
DIGITALLY
SIGNED
Kelley Felchle, City Clerk
Resolution 2022-762
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. 2022-762 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 19th day of December 2022.
Witness my hand and seal of office this 19th day of December 2022.
belle Felchle
Kelley Felchle, City Clerk
SEAL