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Home My WebLink About2023-260-04.17.2023 RECORDED) 1111111111111111111111111111111111111111 IIIII IIIII IIII IIII Doc ID: 011932870002 Type: GEN Recorded: 04/25/2023 at 04:11:00 PM Fee Amt: $12.00 Page 1 of 2 Black Hawk County Iowa SANDIE L. SMITH RECORDER File2023-000143111 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, ir Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2023-260 RESOLUTION TO AMEND A REAL ESTATE PURCHASE AGREEMENT WITH UNION AT NORTH CROSSING, LP, FOR THE CONSTRUCTION OF A 180-UNIT MULTI-FAMILY DEVELOPMENT WITH A MINIMUM ASSESSED VALUE OF $5,000,000.00, LOCATED AT 3330 EAST 4TH STREET AND 151, 153 AND 155 MISSION CIRCLE, INCLUDING MINIMUM ASSESSMENT AGREEMENT AND PROPERTY TAX REBATES OF 0 PERCENT FOR YEARS ONE THROUGH FOUR, 40 PERCENT FOR YEARS FIVE THROUGH SEVEN, AND 50 PERCENT FOR YEARS EIGHT THROUGH NINE, AND 60 PERCENT FOR YEARS TEN THROUGH ELEVEN, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE SAID DOCUMENTS, AND RESCINDING RESOLUTION NO. 2022-517 IN ITS ENTIRETY. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA that the amendment to the Real Estate Purchase Agreement with Union at North Crossing, LP, for the construction of a 180-unit multi-family development with a minimum assessed value of $5,000,000.00, located at 3330 East 4th Street and 151, 153 and 155 Mission Circle, including a Minimum Assessment Agreement and property tax rebates of 0 percent for years one through four, 40 percent for years five through seven, and 50 percent for years eight through nine, and 60 percent for years ten through eleven, and legally described as follows: A PART OF AUDITOR'S PARCEL G, AS RECORDED IN DOCUMENT #2008-10309, ON FILE IN THE BLACK HAWK COUNTY RECORDER'S OFFICE IN WATERLOO, IOWA, IN THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 12, T89N, R13W OF THE FIFTH P.M., BLACK HAWK COUNTY, CITY OF WATERLOO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID QUARTER-QUARTER SECTION; THENCE NORTH 0°56'11" WEST, 659.05 FEET ALONG THE WEST LINE OF SAID QUARTER-QUARTER SECTION; THENCE NORTH 89°38'37" EAST, 33.00 FEET TO THE POINT OF BEGINNING, SAID POINT ALSO BEING THE NORTHWEST CORNER OF SAID AUDITOR'S PARCEL G LOCATED ON THE EAST RIGHT-OF-WAY LINE OF EAST 4TH STREET; THENCE CONTINUING NORTH 89°38'37" EAST, 885.55 FEET ALONG THE NORTH LINE OF SAID AUDITOR'S PARCEL G; THENCE SOUTH 0°54'13" EAST, 292.68 FEET; THENCE SOUTH 55°04'12" WEST, 236.62 FEET; THENCE SOUTH 0°53'47" EAST, 103.98 FEET; THENCE SOUTH 79°44'50" WEST, 378.06 FEET; THENCE SOUTH 89°38'50" WEST, 316.03 FEET TO THE EAST RIGHT-OF-WAY LINE OF EAST 4TH STREET; THENCE NORTH 0°56'11" WEST, 595.90 FEET ALONG SAID EAST RIGHT-OF-WAY LINE TO THE POINT OF BEGINNING. CONTAINING 10.78 ACRES, SUBJECT TO ANY EASEMENTS RECORDED OR UNRECORDED AND FURTHER SUBJECT TO EASEMENTS REQUIRED AS PART OF THE PENDING SUBDIVISION INFRASTRUCTURE is hereby approved, and the Mayor and City Clerk are authorized and directed to execute said documents on behalf of the City of Waterloo, Iowa. Resolution 2023-260 Page 2 PASSED AND ADOPTED this 17th day of April 2023. 62ae,UZ 9it $0161 ALLY' SIGNED Quentin Hart, Mayor ATTEST: &rain I S D LeAnn M. Even, Deputy City Clerk CERTIFICATE I, LeAnn M. Even, Deputy City Clerk of the City of Waterloo, Iowa, do hereby certify that the preceding is a true and complete copy of Resolution No. 2023-260 as passed and adopted by the City Council of the City of Waterloo, Iowa, on the 17th day of April 2023. Witness my hand and seal of office this 17th day of April 2023. MOM ,e6 617 D SfGINED LeAnn M. Even,Deputy City Clerk SEAL p F Wit Q iJ � a , f4 I _ a +�rrirrrrrrrrrru. • .remit _ Iu$a, isms • .- "! Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2023-260 RESOLUTION TO AMEND A REAL ESTATE PURCHASE AGREEMENT WITH UNION AT NORTH CROSSING, LP, FOR THE CONSTRUCTION OF A 180-UNIT MULTI -FAMILY DEVELOPMENT WITH A MINIMUM ASSESSED VALUE OF $5,000,000.00, LOCATED AT 3330 EAST 4TH STREET AND 151, 153 AND 155 MISSION CIRCLE, INCLUDING MINIMUM ASSESSMENT AGREEMENT AND PROPERTY TAX REBATES OF 0 PERCENT FOR YEARS ONE THROUGH FOUR, 40 PERCENT FOR YEARS FIVE THROUGH SEVEN, AND 50 PERCENT FOR YEARS EIGHT THROUGH NINE, AND 60 PERCENT FOR YEARS TEN THROUGH ELEVEN, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE SAID DOCUMENTS, AND RESCINDING RESOLUTION NO. 2022-517 IN ITS ENTIRETY. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA that the amendment to the Real Estate Purchase Agreement with Union at North Crossing, LP, for the construction of a 180-unit multi -family development with a minimum assessed value of $5,000,000.00, located at 3330 East 4th Street and 151, 153 and 155 Mission Circle, including a Minimum Assessment Agreement and property tax rebates of 0 percent for years one through four, 40 percent for years five through seven, and 50 percent for years eight through nine, and 60 percent for years ten through eleven, and legally described as follows: A PART OF AUDITOR'S PARCEL G, AS RECORDED IN DOCUMENT #2008-10309, ON FILE IN THE BLACK HAWK COUNTY RECORDER'S OFFICE IN WATERLOO, IOWA, IN THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 12, T89N, R13W OF THE FIFTH P.M., BLACK HAWK COUNTY, CITY OF WATERLOO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID QUARTER -QUARTER SECTION; THENCE NORTH 0°56' 11" WEST, 659.05 FEET ALONG THE WEST LINE OF SAID QUARTER -QUARTER SECTION; THENCE NORTH 89°38'37" EAST, 33.00 FEET TO THE POINT OF BEGINNING, SAID POINT ALSO BEING THE NORTHWEST CORNER OF SAID AUDITOR'S PARCEL G LOCATED ON THE EAST RIGHT-OF-WAY LINE OF EAST 4TH STREET; THENCE CONTINUING NORTH 89°38'37" EAST, 885.55 FEET ALONG THE NORTH LINE OF SAID AUDITOR'S PARCEL G; THENCE SOUTH 0°54'13" EAST, 292.68 FEET; THENCE SOUTH 55°04'12" WEST, 236.62 FEET; THENCE SOUTH 0°53'47" EAST, 103.98 FEET; THENCE SOUTH 79°44'50" WEST, 378.06 FEET; THENCE SOUTH 89°38'50" WEST, 316.03 FEET TO THE EAST RIGHT-OF-WAY LINE OF EAST 4TH STREET; THENCE NORTH 0°56' 11" WEST, 595.90 FEET ALONG SAID EAST RIGHT-OF-WAY LINE TO THE POINT OF BEGINNING. CONTAINING 10.78 ACRES, SUBJECT TO ANY EASEMENTS RECORDED OR UNRECORDED AND FURTHER SUBJECT TO EASEMENTS REQUIRED AS PART OF THE PENDING SUBDIVISION INFRASTRUCTURE is hereby approved, and the Mayor and City Clerk are authorized and directed to execute said documents on behalf of the City of Waterloo, Iowa. Resolution 2023-260 Page 2 PASSED AND ADOPTED this 17th day of April 2023. ATTEST: ,eg,9144,n, c Vevv LeAnn M. Even, Deputy City Clerk CERTIFICATE Quentin Hart, Mayor I, LeAnn M. Even, Deputy City Clerk of the City of Waterloo, Iowa, do hereby certify that the preceding is a true and complete copy of Resolution No. 2023-260 as passed and adopted by the City Council of the City of Waterloo, Iowa, on the 17th day of April 2023. Witness my hand and seal of office this 17th day of April 2023. SEAL LeAnn M. Even, Deputy City Clerk Wq A 0 .