HomeMy WebLinkAbout2023-331-05.15.2023 (RECORDED) _ IIIIIIIillllllllllllllllllllllI1111Illlll1111llllllllllllll111111llllllllllil
Doc ID: 011967380002 Type: GEN
Recorded: 06/29/2023 at 11:16:45 AM
Fee Amt: $12.00 Page 1 of 2
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2023-00017582
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-331
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH DAVID G.
CHILCOTE, FOR THE CONSTRUCTION OF A NEW
RESTAURANT WITH A TAX REBATE SCHEDULE OF 80
PERCENT FOR YEARS ONE THRU FIVE AND 40 PERCENT
FOR YEAR SIX, AND A DEVELOPMENT GRANT OF
$183,276.70 WITH A MINIMUM ASSESSMENT AGREEMENT
OF $300,000.00, FOR PROPERTY LOCATED AT 317 PARK
ROAD, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated May 15, 2023, between David G. Chilcote and the City
of Waterloo, for the construction of a new restaurant with a tax rebate schedule of 80 percent for
years one thru five and 40 percent for year six, and a development grant of$183,276.70 with a
minimum assessment agreement of$300,000.00, for property located at 317 Park Road, and
legally described as follows:
LOT NO. G IN SUBDIVISION OF LOTS FIVE (5) AND SIX (6)OF
AUDITOR'S BAYOU PLAT IN THE CITY OF WATERLOO, IOWA, EXCEPT
THAT PART THEREOF BOUNDED AS FOLLOWS: BEGINNING AT THE
MOST EASTERLY CORNER OF SAID LOT; THENCE NORTHWESTERLY
ALONG THE NORTHEASTERLY LINE OF SAID LOT A DISTANCE OF 88
FEET; THENCE SOUTHWESTERLY ALONG A LINE WHICH WOULD
INTERSECT THE SOUTHWESTERLY LINE OF SAID LOT AT A POINT 67
FEET NORTHWESTERLY FROM THE SOUTHERLY CORNER OF SAID
LOT A DISTANCE OF 50 FEET; THENCE SOUTHEASTERLY PARALLEL
WITH AND 50 FEET FROM THE NORTHEASTERLY LINE OF SAID LOT
TO THE SOUTHEASTERLY LINE OF SAID LOT; THENCE
NORTHEASTERLY ALONG THE LOT LINE TO THE POINT OF
BEGINNING;
AND
PARCEL "K" OF THE PLAT OF SURVEY AS A PART OF LOTS 2 AND 3 OF
AUDITOR'S BAYOU PLAT FILED 6/04/2019 IN 2019-18219 OF THE BLACK
HAWK COUNTY RECORDER'S OFFICE
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 15th day of May 2023.
QuertEaz 9-tarE
ATTEST: Quentin Hart, Mayor
Why Teich&e
Kelley Felchle, City Clerk
Resolution 2023-331
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. 2023-331 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 15`'' day of May 2023.
Witness my hand and seal of office this 15th day of May 2023.
2(QCCey Te(chTe
Kelley Felchle, City Clerk
SEAL
y 4
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• •tCa la •••• ♦1• ps•,
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-331
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH DAVID G.
CHILCOTE, FOR THE CONSTRUCTION OF A NEW
RESTAURANT WITH A TAX REBATE SCHEDULE OF 80
PERCENT FOR YEARS ONE THRU FIVE AND 40 PERCENT
FOR YEAR SIX, AND A DEVELOPMENT GRANT OF
$183,276.70 WITH A MINIMUM ASSESSMENT AGREEMENT
OF $300,000.00, FOR PROPERTY LOCATED AT 317 PARK
ROAD, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated May 15, 2023, between David G. Chilcote and the City
of Waterloo, for the construction of a new restaurant with a tax rebate schedule of 80 percent for
years one thru five and 40 percent for year six, and a development grant of $183,276.70 with a
minimum assessment agreement of $300,000.00, for property located at 317 Park Road, and
legally described as follows:
LOT NO. G IN SUBDIVISION OF LOTS FIVE (5) AND SIX (6) OF
AUDITOR'S BAYOU PLAT IN THE CITY OF WATERLOO, IOWA, EXCEPT
THAT PART THEREOF BOUNDED AS FOLLOWS: BEGINNING AT THE
MOST EASTERLY CORNER OF SAID LOT; THENCE NORTHWESTERLY
ALONG THE NORTHEASTERLY LINE OF SAID LOT A DISTANCE OF 88
FEET; THENCE SOUTHWESTERLY ALONG A LINE WHICH WOULD
INTERSECT THE SOUTHWESTERLY LINE OF SAID LOT AT A POINT 67
FEET NORTHWESTERLY FROM THE SOUTHERLY CORNER OF SAID
LOT A DISTANCE OF 50 FEET; THENCE SOUTHEASTERLY PARALLEL
WITH AND 50 FEET FROM THE NORTHEASTERLY LINE OF SAID LOT
TO THE SOUTHEASTERLY LINE OF SAID LOT; THENCE
NORTHEASTERLY ALONG THE LOT LINE TO THE POINT OF
BEGINNING;
AND
PARCEL "K" OF THE PLAT OF SURVEY AS A PART OF LOTS 2 AND 3 OF
AUDITOR'S BAYOU PLAT FILED 6/04/2019 IN 2019-18219 OF THE BLACK
HAWK COUNTY RECORDER'S OFFICE
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 15th day of May 2023.
QuertEia »4/
ATTEST: Quentin Hart, Mayor
xet(ey Fercfre
Kelley Felchle, City Clerk
Resolution 2023-331
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. 2023-331 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 15th day of May 2023.
Witness my hand and seal of office this 15th day of May 2023.
lTey Fe1cECe
Kelley Felchle, City Clerk
SEAL