HomeMy WebLinkAbout1987-228-05.11.1987 RESOLUTION NO. 1987-228
RESOLUTION ENDORSING THE CROSS PARK DEVELOPMENT AND
AUTHORIZING SUBMISSION OF AN APPLICATION FOR RISE
FUNDING.
WHEREAS, the City of Waterloo, Iowa has been working with a
local businessman to develop Cross Park, an office complex with
telecommunication capabilities , and
WHEREAS, negotiations are well underway with the Developer to
locate the facility at the intersection of San Marnan and Kimball
Avenue, and
WHEREAS, The City of Waterloo endorses said project and
agrees to construct a new roadway to provide access to the
facility, and
WHEREAS, upon completion of the new roadway project an
immediate, nonspeculative opportunity exists for permanent job
creation through the immediate expansion of TeleCross and AT & T,
and
WHEREAS, funding assistance is available to cities through
the Department of Transportation RISE Funding Program, and the
City of 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
Cross Park development would not be constructed in Waterloo, Iowa,
and
WHEREAS, if RISE Funding is not immediately available,
TeleCross will relocate its business to another state and AT & T,
a tenant, will look elsewhere for a site, 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, and
WHEREAS, it is necessary to obtain a $320 , 000 grant from RISE
Funds in order to complete said project at a total cost of
approximately $13 . 5 million, and
WHEREAS, the City of Waterloo fully endorses said project,
not only in its match for the roadway, but in additional
assistance in the financing of the development.
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.
Resolution No. 1987-228
Page 2
PASSED AND ADOPTED this llth day of May, 1987 .
ernard L. M inley, Ma r
ATTEST: F�
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Larry P. Burger ,
City Clerk/Auditor
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