HomeMy WebLinkAbout2023-649-10.16.2023Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2023-649
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT 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,
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT, AND RESCINDING
RESOLUTION NO. 2023-515.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, AS FOLLOWS:
Section 1. That the Development and Minimum Assessment Agreement dated October
16, 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, on property located at 2775 Crossroads Boulevard, and legally described as follows:
LOT 4 IN CROSSROADS PLAT NO. 2, WATERLOO, BLACK HAWK
COUNTY, IOWA; AND LOT A-3 IN CROSSROADS PLAT NO. 4, A REPLAT
OF TRACT A IN CROSSROADS PLAT NO. 2, WATERLOO, BLACK HAWK
COUNTY, IOWA.
A SURVEY OF 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.
Section 2. That the Mayor and City Clerk are authorized and directed to execute said
documents on behalf of the City of Waterloo, Iowa.
Section 3. That Resolution No. 2023-515 is hereby rescinded in its entirety.
Resolution 2023-649
Page 2
PASSED AND ADOPTED this 16th day of October 2023.
ATTEST:
LeAnn M. Even, Deputy City Cler
CERTIFICATE
Rc, Fe_v55
Ray Feuss, Mayor Pro Tem
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. 2023-649 as passed and adopted
by the City Council of the City of Waterloo, Iowa, on the 16th day of October 2023.
SEAL
Witness my hand and seal of office this 16th day of October 2023.
-&2 In. &rem/
LeAnn M. Even, Deputy City Cler