HomeMy WebLinkAbout2024-454-08.05.2024 (RECORDED) 2024-21127
RECORDED:10/01/2024 03:34:53 PM
RECORDING FEE:$12.00
REVENUE TAX:$
COMBINED FEE:$12.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-454
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH CEDAR
RIVER RENAISSANCE, LLC, FOR THE REHABILITATION
OF A DUPLEX AT 203-205 LAFAYETTE STREET AND
CONSTRUCTION OF A NEW DUPLEX ADJACENT TO SAID
PROPERTY, WITH A MINIMUM ASSESSED VALUE OF
$280,000.00, WITH A $10,000.00 INFILL HOUSING GRANT
UPON COMPLETION OF THE NEW DUPLEX, AND
$50,000.00 DEVELOPMENT GRANT AND TAX REBATES OF
SEVENTY PERCENT FOR FIFTEEN YEARS 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 August 5, 2024,
between Cedar River Renaissance, LLC, and the City of Waterloo, Iowa, for the rehabilitation of
a duplex at 203-205 Lafayette Street and construction of a new duplex adjacent to said property,
with a minimum assessed value of$280,000.00, is hereby approved.
2. That a$10,000.00 infill housing grant, upon completion of the new duplex, is hereby
approved.
3. That a$50,000.00 development grant and tax rebates of seventy percent for fifteen
years is hereby approved
4. 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 5th day of August 2024.
0ueftüt1 SIGNED'..
ATTEST: Quentin Hart, Mayor
G.wG s'ic `n
Nancy Higby, Deputy City Clerk
02
Resolution 2024-454
Page 2
CERTIFICATE
I, Nancy Higby, Deputy City Clerk of the City of Waterloo, Iowa, do hereby certify that
the preceding is a true and complete copy of Resolution No. 2024-454 as passed and adopted by
the City Council of the City of Waterloo, Iowa, on the 5th day of August 2024.
Witness my hand and seal of office on this 5th day of August 2024.
cut z- 44 i 17 `'161 l
SEAL Nancy Higby, Deputy City Clerk
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45 0
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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. 2024-454
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH CEDAR
RIVER RENAISSANCE, LLC, FOR THE REHABILITATION
OF A DUPLEX AT 203-205 LAFAYETTE STREET AND
CONSTRUCTION OF A NEW DUPLEX ADJACENT TO SAID
PROPERTY, WITH A MINIMUM ASSESSED VALUE OF
$280,000.00, WITH A $10,000.00 INFILL HOUSING GRANT
UPON COMPLETION OF THE NEW DUPLEX, AND
$50,000.00 DEVELOPMENT GRANT AND TAX REBATES OF
SEVENTY PERCENT FOR FIFTEEN YEARS 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 August 5, 2024,
between Cedar River Renaissance, LLC, and the City of Waterloo, Iowa, for the rehabilitation of
a duplex at 203-205 Lafayette Street and construction of a new duplex adjacent to said property,
with a minimum assessed value of $280,000.00, is hereby approved.
2. That a $10,000.00 infill housing grant, upon completion of the new duplex, is hereby
approved.
3. That a $50,000.00 development grant and tax rebates of seventy percent for fifteen
years is hereby approved
4. 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 5' day of August 2024.
Qaeti-Wi liar(
ATTEST: Quentin Hart, Mayor
N a.vti-Gvi -141. y1j tj
Nancy Higby, Deputy City Clerk
Resolution 2024-454
Page 2
CERTIFICATE
I, Nancy Higby, Deputy City Clerk of the City of Waterloo, Iowa, do hereby certify that
the preceding is a true and complete copy of Resolution No. 2024-454 as passed and adopted by
the City Council of the City of Waterloo, Iowa, on the 5th day of August 2024.
Witness my hand and seal of office on this 5th day of August 2024.
SEAL
Nam ( 44ey121
Nancy Higby, Deputy City Clerk