HomeMy WebLinkAbout2023-273-05.01.2023Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-273
RESOLUTION SETTING DATE OF PUBLIC HEARING AS
MAY 15, 2023, FOR THE SALE AND CONVEYANCE OF
CITY PROPERTY LOCATED NEAR 3840 UNIVERSITY
AVENUE IN THE AMOUNT OF $1.00, AND TO APPROVE A
PHASED DEVELOPMENT AGREEMENT WITH MANN
ROAD STORAGE, LLC, FOR THE REDEVELOPMENT OF
2810 AND 3840 UNIVERSITY AVENUE, WITH A MINIMUM
ASSESSMENT AGREEMENT OF $4,561,900.00, FOR THE
CONSTRUCTION OF CLIMATE -CONTROLLED STORAGE
UNITS AND A MIXED -USE COMMERCIAL BUILDING,
WITH A TAX REBATE SCHEDULE OF TEN (10) YEARS AT
50 PERCENT, AND DIRECT 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 15th 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, with a phased Development Agreement to Mann Road Storage, LLC, for the
redevelopment of 2810 and 3840 University Avenue, with a minimum assessment agreement of
$4,561,900.00, for the construction of climate -controlled storage units and a mixed -use
commercial building, with a tax rebate schedule of ten (10) years at 50 percent, located near 3840
University Avenue.
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 1st day of May 2023.
ATTEST:
Kelley Felcfile
Kelley Felchle, City Clerk
SEAL
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Ray Feuss, Mayor Pro Tem