HomeMy WebLinkAbout1986-022-01.13.1986 RESOLUTION NO. 1986-22
A RESOLUTION ENDORSING THE GREYHOUND DRIVE
PROJECT IN CONNECTION WITH THE WATERLOO
DOG TRACK FACILITY AND FUTURE COMMERCIAL
DEVELOPMENT AND AUTHORIZING SUBMISSION OF
APPLICATION FOR RISE FUNDING
WHEREAS, the City of Waterloo, Iowa through a private
developer has been successful in obtaining a Dog Track License and said
facility is now under construction, and
o >, WHEREAS, negotiations are well underway with a Hotel Developer
o ,to locate a new lodging facility adjacent to the Track Facility, and
H sN s v WHEREAS, the City of Waterloo endorsed said project and agreed
¢ o construct a new roadway, "Greyhound Drive," to provide access to this
v , 4 facility and the Hotel, and
oS" HC
tip 0in WHEREAS, upon completion of the new roadway project an
z :immediate, nonspeculative opportunity exists for permanent job creation,
F : eEi ,through the Track Facility and Hotel, and,
1 WHEREAS, funding assistance is available to cities through the
'DeparL,nent of Transportation RISE Funding Program, and the City of
`-'' 2 Waterloo is in need of such assistance in order to construct the new
roadway, and
, ; WHEREAS, without RISE Funding the City of Waterloo would not
be able to fully finance the construction of the roadway, thus the Track
c Facility would suffer from limited access and the Hotel would not be
cowpleted and new permanent jobs would not be created, and
WHEREAS, the completion of the roadway must coincide with the
completion of the Track Facility scheduled for Fall of 1986, and
WHEREAS, if RISE Funding is not immediately available, the
City will be unable to meet deadlines for a roadway bid opening with a
construction completion date of late summer, 1986, and
WHEREAS, the City of Waterloo certifies that the roadway will
be dedicated to public use, and further that the City will have
jurisdictional responsibility and will adequately maintain said
roadway.
WHEREAS, it is necessary to obtain a $490,000 combination loan
and grant from RISE Funds in order to complete said project at a total
cost of approximately $1 .2 million.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Waterloo, Iowa that the City endorses said Roadway Project and that
with the assistance of RISE Funding; and permanent jobs will be
created; deadlines for completion of construction will be met; and that
the roadway will be dedicated to public use and adequately maintained.
Further, be it resolved that the Mayor and City Council be directed and
authorized to submit an application for RISE Funds to the Department of
Transportation for assistance in constructing the roadway project.
Passed and adopted this 13th day of January, 1986.
Bernard L. McK tley, or
ATTEST:
Ta P. rger, erk Auditor
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