HomeMy WebLinkAbout2023-425-07.03.2023Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-425
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT AND MINIMUM ASSESSMENT AGREEMENT
WITH JSLK HOLDINGS, LLC, FOR THE CONSTRUCTION OF
A NEW 6,903 SQUARE FOOT PROFESSIONAL OFFICE
BUILDING WITH A TAX REBATE SCHEDULE OF 95
PERCENT FOR YEARS ONE THRU FOUR AND 90 PERCENT
FOR YEARS FIVE THROUGH ELEVEN, WITH A MINIMUM
ASSESSMENT AGREEMENT OF $1,314,770.00, FOR
PROPERTY LOCATED EAST OF 4020 BANKERS
BOULEVARD WITHIN THE SAN MARNAN URBAN
RENEWAL AND REDEVELOPMENT PLAN AREA, 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 and Minimum Assessment Agreement dated July 3, 2023, between JSLK
Holdings, LLC and the City of Waterloo, , for the construction of a new 6,903 square foot
professional office building with a tax rebate schedule of 95 percent for years one thru four and
90 percent for years five through eleven, with a minimum assessment agreement of
$1,314,770.00, for property located east of 4020 Bankers Boulevard within the San Marnan
Urban Renewal and Redevelopment Plan area, and legally described as follows:
PROPERTY TO BE PLATTED AS LOT 8, SAN MARNAN BUSINESS PARK
FIRST ADDITION, 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 3rd day of July 2023.
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ATTEST: Quentin Hart, Mayor
(eeley Fefclile
Kelley Felchle, City Clerk
Resolution 2023-425
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. 2023-425 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 3rd day of July 2023.
Witness my hand and seal of office this 3rd day of July 2023.
SEAL
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R1elley Felchle
Kelley Felchle, City Clerk