HomeMy WebLinkAbout2024-078-02.05.2024 (RECORDED) I I III I I IIIII IIIII IIIII IIIII IIIII 111111
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Recorded: 03/14/2024 at 11:26:06 AM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER
File2024-00011175
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319)291-4323.
RESOLUTION NO. 2024-078
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH BACK
ALLEY PRINTERS, INC., FOR THE REMODEL OF A
BUILDING LOCATED AT 2975 AIRLINE CIRCLE, WITH A
MINIMUM ASSESSED VALUE OF $2,134,730.00 AND
REBATES AT FIFTY PERCENT FOR TEN YEARS, AND THE
OPTION FOR THE CITY TO PURCHASE EXCESS LAND IN
THE FUTURE AT A RATE OF $30,000.00 PER ACRE, 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 February 5, 2024,
between Back Alley Printers, Inc., and the City of Waterloo, Iowa, for the remodel of a building
located at 2975 Airline Circle,with a minimum assessed value of$2,134,730.00 and rebates at
fifty percent for ten years, and the option for the City to purchase excess land in the future at a
rate of$30,000.00 per acre, and legally described as follows:
A TRACT OF LAND LOCATED IN THE NW 1/4 OF THE NE 1/4 OF
SECTION NO. 10, TOWNSHIP NO 89 NORTH, RANGE 13 WEST OF THE
FIFTH PRINCIPAL MERIDIAN, IN BLACK HAWK COUNTY, IOWA,
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE EAST LINE OF W.C.F. &N. DRIVE
WHICH IS 453 FEET SOUTH OF THE NORTH LINE OF SAID NW 1/4 OF
THE NE 1/4 AND 65 FEET OF THE WEST LINE OF SAID NW 1/4 OF THE
NE 1/4; THENCE NORTH 89 DEGREES 53 MINUTES 20 SECONDS EAST A
DISTANCE OF 200 FEET; THENCE NORTH 00 DEGREES 00 MINUTES
EAST A DISTANCE OF 40.12 FEET; THENCE NORTH 89 DEGREES 53
MINUTES 20 SECONDS EAST A DISTANCE OF 746.8 FEET; THENCE
SOUTH 00 DEGREES 19 MINUTES 10 SECONDS WEST A DISTANCE OF
909.88 FEET TO A POINT ON THE SOUTH LINE OF SAID NW 1/4 OF THE
NE 1/4; THENCE SOUTH 89 DEGREES 46 MINUTES 10 SECONDS WEST
ALONG SAID SOUTH LINE A DISTANCE OF 343.31 FEET; THENCE
NORTH 00 DEGREES 04 MINUTES 55 SECONDS EAST A DISTANCE OF
581.18 FEET ALONG THE EAST LINE OF THE SW 1/4 OF THE NW 1/4 OF
SAID SECTION NO. 10; THENCE SOUTH 89 DEGREES 47 MINUTES 40
SECONDS WEST A DISTANCE OF 598.9 FEET ALONG THE NORTH LINE
OF THE SOUTH 250 FEET OF THE N 1/2 OF THE SW 1/4 OF THE NW 1/4
OF THE NE 1/4 OF SAID SECTION NO. 10 TO SAID EAST LINE OF W.C.F.
&N. DRIVE; THENCE NORTH ALONG SAID EAST LINE 290.01 FEET TO
THE PINT OF BEGINNING, EXCEPT THAT PART CONVEYED TO THE
CITY OF WATERLOO IN 552 LD 283, BLACK HAWK COUNTY, 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.
(i J
Resolution 2024-078
Page 2
PASSED AND ADOPTED this 5th day of February 2024.
Rcoi FQL,55 SIGNED'
ATTEST: Ray Feuss, Mayor Pro Tern
Kelley Felchle
Kelley Felchle, City Clerk
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. 2024-078 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 5th day of February 2024.
Witness my hand and seal of office this 5th day of February 2024.
(elley Felchle oalGNEflc r y
SEAL Kelley Felchle, City Clerk
44,
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Thy w,3
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-078
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH BACK
ALLEY PRINTERS, INC., FOR THE REMODEL OF A
BUILDING LOCATED AT 2975 AIRLINE CIRCLE, WITH A
MINIMUM ASSESSED VALUE OF $2,134,730.00 AND
REBATES AT FIFTY PERCENT FOR TEN YEARS, AND THE
OPTION FOR THE CITY TO PURCHASE EXCESS LAND IN
THE FUTURE AT A RATE OF $30,000.00 PER ACRE, 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 February 5, 2024,
between Back Alley Printers, Inc., and the City of Waterloo, Iowa, for the remodel of a building
located at 2975 Airline Circle, with a minimum assessed value of $2,134,730.00 and rebates at
fifty percent for ten years, and the option for the City to purchase excess land in the future at a
rate of $30,000.00 per acre, and legally described as follows:
A TRACT OF LAND LOCATED IN THE NW 1/4 OF THE NE 1/4 OF
SECTION NO. 10, TOWNSHIP NO 89 NORTH, RANGE 13 WEST OF THE
FIFTH PRINCIPAL MERIDIAN, IN BLACK HAWK COUNTY, IOWA,
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE EAST LINE OF W.C.F. & N. DRIVE
WHICH IS 453 FEET SOUTH OF THE NORTH LINE OF SAID NW 1/4 OF
THE NE 1/4 AND 65 FEET OF THE WEST LINE OF SAID NW 1/4 OF THE
NE 1/4; THENCE NORTH 89 DEGREES 53 MINUTES 20 SECONDS EAST A
DISTANCE OF 200 FEET; THENCE NORTH 00 DEGREES 00 MINUTES
EAST A DISTANCE OF 40.12 FEET; THENCE NORTH 89 DEGREES 53
MINUTES 20 SECONDS EAST A DISTANCE OF 746.8 FEET; THENCE
SOUTH 00 DEGREES 19 MINUTES 10 SECONDS WEST A DISTANCE OF
909.88 FEET TO A POINT ON THE SOUTH LINE OF SAID NW 1/4 OF THE
NE 1/4; THENCE SOUTH 89 DEGREES 46 MINUTES 10 SECONDS WEST
ALONG SAID SOUTH LINE A DISTANCE OF 343.31 FEET; THENCE
NORTH 00 DEGREES 04 MINUTES 55 SECONDS EAST A DISTANCE OF
581.18 FEET ALONG THE EAST LINE OF THE SW 1/4 OF THE NW 1/4 OF
SAID SECTION NO. 10; THENCE SOUTH 89 DEGREES 47 MINUTES 40
SECONDS WEST A DISTANCE OF 598.9 FEET ALONG THE NORTH LINE
OF THE SOUTH 250 FEET OF THE N 1/2 OF THE SW 1/4 OF THE NW 1/4
OF THE NE 1/4 OF SAID SECTION NO. 10 TO SAID EAST LINE OF W.C.F.
& N. DRIVE; THENCE NORTH ALONG SAID EAST LINE 290.01 FEET TO
THE PINT OF BEGINNING, EXCEPT THAT PART CONVEYED TO THE
CITY OF WATERLOO IN 552 LD 283, BLACK HAWK COUNTY, 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.
Resolution 2024-078
Page 2
PASSED AND ADOPTED this 5th day of February 2024.
R,.7
ATTEST: Ray Feuss, Mayor Pro Tem
Kelley Felchle SIGNED
Kelley Felchle, City
y Clerk
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. 2024-078 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 5th day of February 2024.
Witness my hand and seal of office this 5th day of February 2024.
SEAL
Kelley Felchle
Kelley Felchle, City Clerk