HomeMy WebLinkAbout2023-509-08.21.2023Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-509
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH 3 STOOGES,
LLC, FOR THE CONSTRUCTION OF A NEW 9,000 SQUARE
FOOT COMMERCIAL BUILDING, WITH A MINIMUM
ASSESSED VALUE OF $350,000.00, AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
AS FOLLOWS:
1. That the Development and Minimum Assessment Agreement dated August 21, 2023,
between 3 Stooges, LLC and the City of Waterloo, for the construction of a new 9,000 square
foot commercial building located south of 130 Hyper Drive, with a minimum assessed value of
$350,000.00 and a tax rebate schedule of five years at 50 percent, and legally described as
follows:
THE SOUTH 145.15 FEET OF LOTS 1 AND 2, WATERLOO AIR AND RAIL
PARK 2ND ADDITION, CITY OF WATERLOO, BLACK HAWK COUNTY,
STATE OF IOWA
is hereby approved.
2. That the Mayor and City Clerk are authorized and directed to execute said documents
on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 21st day of August 2023.
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
CERTIFICATE
Qae/lthz >zri
Quentin Hart, Mayor
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. 2023-509 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 21st day of August 2023.
Witness my hand and seal of office this 21st day of August 2023.
SEAL
d
(elley Felchle
Kelley Felchle, City Clerk