HomeMy WebLinkAbout2023-285-05.01.2023Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-285
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH DMJ
DEVELOPMENT, LLC, FOR THE CONSTRUCTION OF A
NEW 14,000 SQUARE FOOT TRUCK TERMINAL WITH A
FUTURE 21,000 SQUARE FOOT INDUSTRIAL BUILDING
EXPANSION, WITH A MINIMUM ASSESSED VALUE OF
$1,400,000.00 AND 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 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 May 1, 2023, between DMJ Development, LLC and the
City of Waterloo, for the construction of a a new 14,000 square foot truck terminal with a future
21,000 square foot industrial building expansion, with a minimum assessed value of
$1,400,000.00 and 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 legally described as follows:
LOT 5, WATERLOO AIR AND RAIL PARK 3'm ADDITION, ALL IN THE
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 lst day of May 2023.
ATTEST:
Kelley FeCchle
Kelley Felchle, City Clerk
CERTIFICATE
Ray Feuss, Mayor Pro Tem
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. 2023-285 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 1st day of May2023.
Witness my hand and seal of office this 1st day of May 2023.
Kelley Fe1chle
Kelley Felchle, City Clerk
SEAL
WA
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