HomeMy WebLinkAbout2024-156-03.18.2024 (RECORDED) liii Il III III 11111111111 liii 111111
Doc ID: 012104480001 Type: GEN
Recorded: 04/25/2024 at 02:34:45 PM
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Black Hawk County Iowa
SANDIE L. SMITH RECORDER
Fi1e2024_00013222
Z_Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319)291-4323.
RESOLUTION NO. 2024-156
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH NET WORTH INVESTMENT, LLC, FOR
THE CONSTRUCTION OF A TEN-UNIT RESIDENTIAL
BUILDING ON AN 1NFILL LOT LOCATED EAST OF 2557
WEST 3RD STREET, INCLUDING A $50,000.00 INFILL
INCENTIVE UPON SUBSTANTIAL 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 Agreement dated March 18, 2024, between Net Worth
Investment, LLC and the City of Waterloo, for the construction of a ten-unit residential building
on an infill lot located east of 2557 West 3rd Street, including a$50,000.00 infill incentive upon
substantial completion, and legally described as follows:
LOT NO. 13 IN "LEWIS MILLER'S SMALL FARMS," WATERLOO, BLACK
HAWK COUNTY, IOWA, EXCEPT THE WEST 20 FEET THEREOF
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 18th day of March 2024.
Que/ I—Ur( sIG�811NEDd11Y
ATTEST: Quentin Hart, Mayor
Kelley Felchle
SIGNED
J,
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. 2024-156 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 18th day of March 2024.
Witness my hand and seal of office on this 18th day of March 2024.
Kelley Felchle °'°'T°""
SIGNED
SEAL Kelley Felchle, City Clerk
- 0c W A -0.
s •
IuI uiiu1JI I /1`I •
614°?'/ (7)
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-156
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH NET WORTH INVESTMENT, LLC, FOR
THE CONSTRUCTION OF A TEN -UNIT RESIDENTIAL
BUILDING ON AN INFILL LOT LOCATED EAST OF 2557
WEST 3RD STREET, INCLUDING A $50,000.00 INFILL
INCENTIVE UPON SUBSTANTIAL 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 Agreement dated March 18, 2024, between Net Worth
Investment, LLC and the City of Waterloo, for the construction of a ten -unit residential building
on an infill lot located east of 2557 West 3rd Street, including a $50,000.00 infill incentive upon
substantial completion, and legally described as follows:
LOT NO. 13 IN "LEWIS MILLER'S SMALL FARMS," WATERLOO, BLACK
HAWK COUNTY, IOWA, EXCEPT THE WEST 20 FEET THEREOF
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 181' day of March 2024.
ATTEST:
R1elley Felchle
Kelley Felchle, City Clerk
CERTIFICATE
62uerdcrc 9-Car(
Quentin Hart, Mayor
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. 2024-156 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 18th day of March 2024.
Witness my hand and seal of office on this 18th day of March 2024.
(elley Felchle
Kelley Felchle, City Clerk