HomeMy WebLinkAbout2023-515-08.21.2023 (RESCINDED) Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-515
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH GRANT
PARK, LLC, FOR THE CONSTRUCTION OF A NEW 10,000
SQUARE FOOT COMMERCIAL BUILDING WITH A
MINIMUM ASSESSED VALUE OF $2,200,000.00, WITH A
REBATE SCHEDULE OF 80 PERCENT FOR YEARS ONE
THROUGH FIVE AND 70 PERCENT FOR YEARS SIX
THROUGH TEN, AND AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF W RLOO, IOWA
AS FOLLOWS:
1. That the Development and Minimum Assessment Agreeme dat ugust 2 023,
between Grant Park, LLC and the City of Waterloo, for the const ion of an 0,00 quare
foot Commercial Building with a minimum assessed value of$2 000. with e
schedule of 80 percent for years one through five and 70 percent fo six th a ten, and
legally described as follows:
LOT 4, CROSSROADS PLAT NO. 2 AND -3, CRO O S PLAT NO.
4, A REPLAT OF TRACT A CROSSRO PL T NO. 2, D PARCEL "F"
OF THE SOUTHEAST QUARTER (SE 1/4), CTION.02, OWNSHIP 88
NORTH (T88N), RANGE 13 WEST (R13W) OF THE 5TH PRINCIPAL
MERIDIAN (STH PM), CITYNNUMBER$033;,
T C HAWK COUNTY,
STATE OF IOWA, AND BE RTICUL RLY DESCRIBED AS
FOLLOWS: BEGINNING RT STERLY CORNER OF LOT 4,
CROSSROADS PLAT 2FO 1/2" REBAR WITH YELLOW
PLASTIC CAP AND L EN THENCE SOUTH 48°00'16"
WEST 225.09 FEE' AL G THE NORTHWESTERLY LINES OF SAID LOT 4
AND LOT A-3 ROSSRO S PL NO. 4, TO THE NORTHWESTERLY
CORNER ( ID LOT A- A FOUND 1/2" REBAR; THENCE
i
H °-k5'56" ST .00 FEET ALONG THE NORTHWESTERLY
ON OF THE SO HWESTERLY LINE OF SAID LOT A-3; THENCE
800 " E 5.09 FEET PARALLEL WITH SAID
H ERL ES OF LOTS 4 AND A-3 TO THE
HW RL XTENSION OF THE NORTHEASTERLY LINE OF
OT 4; CE SOUTH 41°55'56" EAST 50.00 FEET ALONG SAID
Y EXTENSION TO THE POINT OF BEGINNING
11,255 SQUARE FEET (0.258 ACRES), SUBJECT TO THE
N OF A PUBLIC UTILITY EASEMENT OVER THE
ASTERLY 30 FEET OF SAID PARCEL AND A PUBLIC UTILITY
EASEMENT OVER THE NORTHWESTERLY 10 FEET OF SAID PARCEL.
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 2l't day of August 2023.
Resolution 2023-515
Page 2
ATTEST: Quentin Hart, Mayor
Kelley Felchle, City Clerk
CERTIFICATE
I, Kelley Felchle, City Clerk of the City of erloo, d y certify that the
preceding is a true and complete copy of Resolutio 023-515 as and adopted by the
City Council of the City of Waterloo, Iowa, on th A da ugust 23.
Witness my hand and seal of office t ' A a o ugu 23.
SEAL Kelley Felchle, City Clerk
# WA).0
0
rrr��'.:......:......
0
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-515
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH GRANT
PARK, LLC, FOR THE CONSTRUCTION OF A NEW 10,000
SQUARE FOOT COMMERCIAL BUILDING WITH A
MINIMUM ASSESSED VALUE OF $2,200,000.00, WITH A
REBATE SCHEDULE OF 80 PERCENT FOR YEARS ONE
THROUGH FIVE AND 70 PERCENT FOR YEARS SIX
THROUGH TEN, 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 Grant Park, LLC and the City of Waterloo, for the construction of a new 10,000 square
foot Commercial Building with a minimum assessed value of $2,200,000.00, with a rebate
schedule of 80 percent for years one through five and 70 percent for years six through ten, and
legally described as follows:
LOT 4, CROSSROADS PLAT NO. 2 AND LOT A-3, CROSSROADS PLAT NO.
4, A REPLAT OF TRACT A CROSSROADS PLAT NO. 2, AND PARCEL "F"
OF THE SOUTHEAST QUARTER (SE 1/4), SECTION 02, TOWNSHIP 88
NORTH (T88N), RANGE 13 WEST (R13W) OF THE 5TH PRINCIPAL
MERIDIAN (5TH PM), CITY OF WATERLOO, BLACK HAWK COUNTY,
STATE OF IOWA, AND BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS: BEGINNING AT THE NORTHEASTERLY CORNER OF LOT 4,
CROSSROADS PLAT NO. 2, BEING A FOUND 1/2" REBAR WITH YELLOW
PLASTIC CAP AND LICENSE NUMBER 8033; THENCE SOUTH 48°00'16"
WEST 225.09 FEET ALONG THE NORTHWESTERLY LINES OF SAID LOT 4
AND LOT A-3, CROSSROADS PLAT NO. 4, TO THE NORTHWESTERLY
CORNER OF SAID LOT A-3, BEING A FOUND 1/2" REBAR; THENCE
NORTH 41°55'56" WEST 50.00 FEET ALONG THE NORTHWESTERLY
EXTENSION OF THE SOUTHWESTERLY LINE OF SAID LOT A-3; THENCE
NORTH 48°00'16" EAST 225.09 FEET PARALLEL WITH SAID
NORTHWESTERLY LINES OF LOTS 4 AND A-3 TO THE
NORTHWESTERLY EXTENSION OF THE NORTHEASTERLY LINE OF SAID
LOT 4; THENCE SOUTH 41°55'56" EAST 50.00 FEET ALONG SAID
NORTHWESTERLY EXTENSION TO THE POINT OF BEGINNING
CONTAINING 11,255 SQUARE FEET (0.258 ACRES), SUBJECT TO THE
RETENTION OF A PUBLIC UTILITY EASEMENT OVER THE
NORTHEASTERLY 30 FEET OF SAID PARCEL AND A PUBLIC UTILITY
EASEMENT OVER THE NORTHWESTERLY 10 FEET OF SAID PARCEL.
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.
Resolution 2023-515
Page 2
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
CERTIFICATE
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. 2023-515 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
0 * 1A-- )14k
A.
G
(elley Felchle
Kelley Felchle, City Clerk