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HomeMy WebLinkAbout2023-259-04.17.2023 (RECORDED) 1111 ll III IIIII III III I I II IIII IIIII II II IIII II II IIIII IIIII I I II :I) Doc ID: 011979340002 Type: GEN Recorded: 07/21/2023 at 02:43:44 PM Fee Amt: $12.00 Page 1 of 2 Black Hawk County Iowa SANDIE L. SMITH RECORDER File2024-00000969 bd Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2023-259 RESOLUTION APPROVING A DEVELOPMENT AGREEMENT WITH CEDAR CROSSING STORAGE, LLC, FOR THE CONSTRUCTION OF A NEW SELF-STORAGE FACILITY CONSISTING OF NO LESS THAN 28,276 SQUARE FEET, AND FUTURE EXPANSION WITH A MINIMUM ASSESSED VALUE OF $1,680,000.00 FOR THE FIRST PHASE, LOCATED EAST OF 3530 MARNIE AVENUE, INCLUDING MINIMUM ASSESSMENT AND DEVELOPMENT AGREEMENTS WITH A REBATE OF 90 PERCENT FOR YEARS ONE THROUGH TEN, 85 PERCENT FOR YEAR ELEVEN, AND 60 PERCENT FOR YEARS TWELVE THROUGH FOURTEEN, 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 April 17, 2023,between Cedar Crossing Storage, LLC and the City of Waterloo for the construction of a new self-storage facility consisting of no less than 28,276 square feet, and future expansion with a minimum assessed value of$1,680,000.00 for the first phase, located east of 3530 Mamie Avenue, including Minimum Assessment and Development Agreements with a rebate of 90 percent for years one through ten, 85 percent for year eleven, and 60 percent for years twelve through fourteen, and legally described as follows: LOTS 3 AND 4, CEDAR VALLEY CROSSING, 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 17th day of April 2023. Que di L / Wart mGI OU SIGhE� Quentin Hart, Mayor ATTEST: SiVen, SUED SUED LeAnn M. Even, Deputy City Clerk 1 i �1. Y- I a_) 4,2 Resolution 2023-259 Page 2 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. 2023-259 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. 2,. IGN .SIGN., Siren, ID ED SEAL LeAnn M. Even, Deputy City Clerk .;' 0 mum at mum r • y y Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323. RESOLUTION NO. 2023-259 RESOLUTION APPROVING A DEVELOPMENT AGREEMENT WITH CEDAR CROSSING STORAGE, LLC, FOR THE CONSTRUCTION OF A NEW SELF -STORAGE FACILITY CONSISTING OF NO LESS THAN 28,276 SQUARE FEET, AND FUTURE EXPANSION WITH A MINIMUM ASSESSED VALUE OF $1,680,000.00 FOR THE FIRST PHASE, LOCATED EAST OF 3530 MARNIE AVENUE, INCLUDING MINIMUM ASSESSMENT AND DEVELOPMENT AGREEMENTS WITH A REBATE OF 90 PERCENT FOR YEARS ONE THROUGH TEN, 85 PERCENT FOR YEAR ELEVEN, AND 60 PERCENT FOR YEARS TWELVE THROUGH FOURTEEN, 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 April 17, 2023, between Cedar Crossing Storage, LLC and the City of Waterloo for the construction of a new self -storage facility consisting of no less than 28,276 square feet, and future expansion with a minimum assessed value of $1,680,000.00 for the first phase, located east of 3530 Marnie Avenue, including Minimum Assessment and Development Agreements with a rebate of 90 percent for years one through ten, 85 percent for year eleven, and 60 percent for years twelve through fourteen, and legally described as follows: LOTS 3 AND 4, CEDAR VALLEY CROSSING, 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 17th day of April 2023. Quentin Hart, Mayor ATTEST: e vo Vert DIGITALLY SIGNED LeAnn M. Even, Deputy City Clerk Resolution 2023-259 Page 2 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. 2023-259 as passed and adopted by the City Council of the City of Waterloo, Iowa, on the 17th day of April 2023. SEAL Witness my hand and seal of office this 17th day of April 2023. LeAnn M. Even, Deputy City Clerk