HomeMy WebLinkAbout2023-618-10.02.2023 (RECORDED) IIII 0 III 0 IIIII 0III 01 IIIII IIIII IIIII IIIII IIIII 110 III 1 II II 0II IIII
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Recorded: 12/01/2023 at 03:22:22 PM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER (�
File2024-0000 /7 206
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-618
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH JSA
DEVELOPMENT, LLC, FOR THE REHABILITATION OF 425
FRANKLIN STREET INTO COMMERCIAL SPACE,
INCLUDING A GRANT OF $85,000.00, AND REBATES FOR
FIFTEEN YEARS AT SEVENTY PERCENT, WITH A
MINIMUM ASSESSED VALUE OF $500,000.00 UPON
COMPLETION, 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 October 2, 2023,
between JSA Development, LLC and the City of Waterloo, for the rehabilitation of 425 Franklin
Street into commercial space, including a grant of$85,000.00, and rebates for fifteen years at
seventy percent,with a minimum assessed value of$500,000.00 upon completion, and legally
described as follows:
THE SOUTHWESTERLY TWENTY (20) FEET OF THE SOUTHEASTERLY
ONE HUNDRED (100) FEET OF LOT NO. FOUR(4),
THE NORTHEASTERLY ONE-HALF OF LOT NO. FIVE(5),
THE SOUTHEASTERLY ONE HUNDRED FIFTEEN (115)FEET OF THE
SOUTHWESTERLY ONE-HALF OF LOT NO. FIVE(5),AND
THE SOUTHEASTERLY ONE HUNDRED FIFTEEN (115)FEET OF LOTS
NOS. EIGHT (8) AND NINE(9) IN BLOCK NO. SIXTY-TWO (62) IN THE
COOLEY ADDITION TO WATERLOO, 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 2°a day of October 2023.
Q ,,,(/.'/ •
� fV' � l!J/w/.1 TV SIGNED
ATTEST: Quentin Hart, Mayor
RelTey Eelchle
SIGNED
Kelley Felchle, City Clerk
CD)
Resolution 2023-618
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. 2023-618 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 2nd day of October 2023.
Witness my hand and seal of office this 2°a day of October 2023.
1(elley Felchle sic Y
SEAL Kelley Felchle, City Clerk
OF WA?
4.
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Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-618
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH JSA
DEVELOPMENT, LLC, FOR THE REHABILITATION OF 425
FRANKLIN STREET INTO COMMERCIAL SPACE,
INCLUDING A GRANT OF $85,000.00, AND REBATES FOR
FIFTEEN YEARS AT SEVENTY PERCENT, WITH A
MINIMUM ASSESSED VALUE OF $500,000.00 UPON
COMPLETION, 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 October 2, 2023,
between JSA Development, LLC and the City of Waterloo, for the rehabilitation of 425 Franklin
Street into commercial space, including a grant of $85,000.00, and rebates for fifteen years at
seventy percent, with a minimum assessed value of $500,000.00 upon completion, and legally
described as follows:
THE SOUTHWESTERLY TWENTY (20) FEET OF THE SOUTHEASTERLY
ONE HUNDRED (100) FEET OF LOT NO. FOUR (4),
THE NORTHEASTERLY ONE-HALF OF LOT NO. FIVE (5),
THE SOUTHEASTERLY ONE HUNDRED FIFTEEN (115) FEET OF THE
SOUTHWESTERLY ONE-HALF OF LOT NO. FIVE (5), AND
THE SOUTHEASTERLY ONE HUNDRED FIFTEEN (115) FEET OF LOTS
NOS. EIGHT (8) AND NINE (9) IN BLOCK NO. SIXTY-TWO (62) IN THE
COOLEY ADDITION TO WATERLOO, 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 2nd day of October 2023.
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
atertan 9 rt
Quentin Hart, Mayor
Resolution 2023-618
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. 2023-618 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 2nd day of October 2023.
Witness my hand and seal of office this 2nd day of October 2023.
SEAL
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Kelley Felchle
Kelley Felchle, City Clerk