HomeMy WebLinkAbout2010-900-10/04/2010RESOLUTION NO. 2010-900
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH HOWARD L. ALLEN INVESTMENTS INC. OF
CEDAR FALLS, IOWA, AND DIRECTING EXECUTION OF
SAID DEVELOPMENT AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated October 4, 2010, to sell and
convey for $1.00 property generally located at MidPort America
Park Plat No. 2 in the MidPort Industrial Park, just east of
FedEx Ground on Airline Highway, for construction of a 10,000
square foot industrial building, with a new minimum taxable value
of $1.0 million, with free land and tax rebates at 50 percent for
five years, by and between Howard L. Allen Investments Inc. of
Cedar Falls, Iowa and the City of Waterloo, Iowa, be and the same
is hereby approved, and the Mayor and City Clerk authorized to
execute the same in behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 4th day of October, 2010.
Ernest G. Clark, Mayor
ATTEST:
uzy Sch res, CMC
City Cle..k