HomeMy WebLinkAbout2023-418-07.03.2023 (RECORDED) lMI III II IIIII1111111111 III I IIIII IIIII II II IIIII IIIII IIIII III III
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Recorded: 07/24/2023 at 02:54:59 PM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2024-00001060
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319)291-4323.
RESOLUTION NO. 2023-418
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH DREW REG
INVESTMENTS, LLC, FOR THE CONSTRUCTION OF A NEW
COMMERCIAL BUILDING WITH A TAX REBATE
SCHEDULE OF 60 PERCENT FOR YEARS ONE THRU FIVE
WITH A MINIMUM ASSESSMENT AGREEMENT OF
$595,460.00, FOR PROPERTY LOCATED AT 2920 JANET
DRIVE, 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 Drew
Reg Investments, LLC and the City of Waterloo, for the construction of a new commercial
building with a tax rebate schedule of 60 percent for years one thru five with a minimum
assessment agreement of$595,460.00, for property located at 2920 Janet Drive, and legally
described as follows:
THE SOUTH 96 FEET IF THE WEST 225 FEET OF LOT 3 AND THE WEST
225 FEET OF LOT 4, ALL IN AIRLINE-BURTON INDUSTRIAL PARK,
WATERLOO, 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.
•
OLttert-i mIGNeiraityED
ATTEST: Quentin Hart, Mayor
Kelley l et-c 6LG �IGSIGNETa L
'
Kelley Felchle, City Clerk
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. 2023-418 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 3`d day of July 2023.
Kelley Felcfre 'Il6""
IGNED
Kelley Felchle, City Clerk
SEAL
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