HomeMy WebLinkAbout2023-231-04.17.2023Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-231
RESOLUTION SETTING DATE OF PUBLIC HEARING AS
MAY 1, 2023, FOR THE SALE AND CONVEYANCE OF CITY -
OWNED PROPERTY IN THE AMOUNT OF $1.00 TO DMJ
DEVELOPMENT, LLC, FOR THE CONSTRUCTION OF A
14,000 SQUARE FOOT TRUCKING TERMINAL WITH A
FUTURE 21,000 SQUARE FOOT EXPANSION, WITH A
MINIMUM ASSESSED VALUE OF $1,400,000.00, LOCATED
EAST OF 115 WARP DRIVE, INCLUDING A DEVELOPMENT
AGREEMENT WITH REBATE SCHEDULE OF 75 PERCENT
FOR YEARS ONE THROUGH THREE, 70 PERCENT FOR
YEARS FOUR AND FIVE, AND 50 PERCENT FOR YEARS
SIX THROUGH TEN, AND MINIMUM ASSESSMENT
AGREEMENT, AND INSTRUCT THE CITY CLERK TO
PUBLISH NOTICE.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA, AS
FOLLOWS:
Section 1. That the Council of the City of Waterloo, Iowa, meet in the Harold E. Getty
Council Chambers at City Hall, Waterloo, Iowa, at 5:30 p.m. on the lst day of May 2023, to hold
a public hearing, to approve the sale and conveyance of City -owned property in the amount of
$1.00 to DMJ Development, LLC, for the construction of a 14,000 square foot trucking terminal
with a future 21,000 square foot expansion, with a minimum assessed value of $1,400,000.00,
located east of 115 Warp Drive, including a Development Agreement with rebate schedule of 75
percent for years one through three, 70 percent for years four and five, and 50 percent for years
six through ten, and Minimum Assessment Agreement.
Section 2. That the City Clerk is hereby directed to publish notice of the time and place
of said hearing in the Waterloo Courier.
PASSED AND ADOPTED this 17th day of April 2023.
ATTEST:
LeAnn M. Even, Deputy City Clerk
SEAL
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Quentin Hart, Mayor