HomeMy WebLinkAbout2024-347-06.03.2024 (RECORDED) 2024-16424
RECORDED:06/26/2024 03:06:44 PM
RECORDING FEE:$7.00
REVENUE TAX:$
COMBINED FEE:$7.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
repared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-347
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH J & R REAL
ESTATE HOLDINGS, LLC, FOR THE REHABILITATION OF
1721-1729 MULBERRY STREET INTO NINETEEN
RESIDENTIAL UNITS, A DAYCARE, AND COMMUNITY
SPACE, INCLUDING THE INFILL HOUSING INCENTIVE OF
$5,000.00 PER RESIDENTIAL UNIT, CONSOLIDATED
URBAN REVITALIZATION AREA TAX ABATEMENT AND
A MINIMUM ASSESSMENT AGREEMENT OF $2,500,000.00,
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
AS FOLLOWS:
1. That the Development and Minimum Assessment Agreement dated June 3, 2024,
between J&R Real Estate Holdings, LLC and the City of Waterloo, Iowa, for the rehabilitation
of 1721-1729 Mulberry Street into nineteen residential units, a daycare, and community space,
including the Infill Housing Incentive of$5,000.00 per residential unit, Consolidated Urban
Revitalization Area tax abatement and a Minimum Assessment Agreement of$2,500,000.00, 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 3rd day of June 2024.
QtielZ L l J�CG
ATTEST: Quentin Hart, Mayor
Kelley Eerchfe
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. 2024-347 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 3rd day of June 2024.
Witness my hand and seal of office this 3rd day of June 2024.
7(el(ey Felchle " °'G'i""Yi
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Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-347
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH J & R REAL
ESTATE HOLDINGS, LLC, FOR THE REHABILITATION OF
1721-1729 MULBERRY STREET INTO NINETEEN
RESIDENTIAL UNITS, A DAYCARE, AND COMMUNITY
SPACE, INCLUDING THE INFILL HOUSING INCENTIVE OF
$5,000.00 PER RESIDENTIAL UNIT, CONSOLIDATED
URBAN REVITALIZATION AREA TAX ABATEMENT AND
A MINIMUM ASSESSMENT AGREEMENT OF $2,500,000.00,
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
AS FOLLOWS:
1. That the Development and Minimum Assessment Agreement dated June 3, 2024,
between J & R Real Estate Holdings, LLC and the City of Waterloo, Iowa, for the rehabilitation
of 1721-1729 Mulberry Street into nineteen residential units, a daycare, and community space,
including the Infill Housing Incentive of $5,000.00 per residential unit, Consolidated Urban
Revitalization Area tax abatement and a Minimum Assessment Agreement of $2,500,000.00, 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 3rd day of June 2024.
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
CERTIFICATE
DIGITALLY
SIGNED
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. 2024-347 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 3rd day of June 2024.
Witness my hand and seal of office this 3rd day of June 2024.
Kelley Felchle
Kelley Felchle, City Clerk