HomeMy WebLinkAbout2024-028-01.16.2024 (RECORDED) 1illllllIIIIIIIII11:11IIIII1111111111IIIII11111111111111!IIIllIII!!11111IIII III 5
c ID: 012083630002 Type: GEN
Recorded: 03/14/2024 at 11:26:56 AM
Fee Amt: $12.00 Page 1 of 2
Black Hawk County Iowa
SANDIE L. SMITH RECORDER i i File2024-0001 1 1 /7
7
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-028
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH STUDIO
ELYSIUM, LLC, FOR THE REHABILITATION OF ONE
RESIDENTIAL UNIT AND A SALON, LOCATED AT 927
SYCAMORE STREET, APPROVING A DEVELOPMENT
GRANT OF $5,000.00 FOR THE SINGLE RESIDENTIAL UNIT
AND THE CURA TAX ABATEMENT, AND MINIMUM
ASSESSMENT AGREEMENT FOR $170,000.00 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 Agreement dated January 16, 2024, between Studio Elysium,
LLC and the City of Waterloo, Iowa, for the rehabilitation of one residential unit and a salon,
located at 927 Sycamore Street, and legally described as follows:
THE SOUTHEAST 40 FEET OF LOT 9 AND SOUTHEAST 40 FEET OF THE
SOUTHWEST 40 FEET OF LOT 8 IN BLOCK 17 IN THE ORIGINAL PLAT,ON
THE EAST SIDE OF THE CEDAR RIVER,IN THE CITY OF WATERLOO,BLACK
HAWK COUNTY,IOWA
approving a development grant of$5,000.00 for the single residential unit and the CURA tax
Abatement, and Minimum Assessment Agreement, in the amount of$170,000.00, 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 16th day of January 2024.
62avziUZ 9 @IGNEDGiTatrl
ATTEST: Quentin Hart, Mayor
Kelley c'elchle DIGITA"t
SIGNED
111
Kelley Felchle, City Clerk
0)
Resolution 2024-028
Page 2
CERTIFICATE
I, Kelley Felchle, Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2024-028 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 16`h day of January 2024.
Witness my hand and seal of office this 16th day of January 2024.
Kelley Felchle s�
SEAL Kelley Felchle, City Clerk
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-028
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH STUDIO
ELYSIUM, LLC, FOR THE REHABILITATION OF ONE
RESIDENTIAL UNIT AND A SALON, LOCATED AT 927
SYCAMORE STREET, APPROVING A DEVELOPMENT
GRANT OF $5,000.00 FOR THE SINGLE RESIDENTIAL UNIT
AND THE CURA TAX ABATEMENT, AND MINIMUM
ASSESSMENT AGREEMENT FOR $170,000.00 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 Agreement dated January 16, 2024, between Studio Elysium,
LLC and the City of Waterloo, Iowa, for the rehabilitation of one residential unit and a salon,
located at 927 Sycamore Street, and legally described as follows:
THE SOUTHEAST 40 FEET OF LOT 9 AND SOUTHEAST 40 FEET OF THE
SOUTHWEST 40 FEET OF LOT 8 IN BLOCK 17 IN THE ORIGINAL PLAT, ON
THE EAST SIDE OF THE CEDAR RIVER, IN THE CITY OF WATERLOO, BLACK
HAWK COUNTY, IOWA
approving a development grant of $5,000.00 for the single residential unit and the CURA tax
Abatement, and Minimum Assessment Agreement, in the amount of $170,000.00, 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 16th day of January 2024.
ATTEST:
7(eCCey FeCchCe
Kelley Felchle, City Clerk
6.2avt /Z }lar(
Quentin Hart, Mayor
Resolution 2024-028
Page 2
CERTIFICATE
I, Kelley Felchle, Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2024-028 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 16th day of January 2024.
SEAL
Witness my hand and seal of office this 16th day of January 2024.
Kelley Felcfile
Kelley Felchle, City Clerk