HomeMy WebLinkAbout2011-663-07/11/2011This Resolution prepared by Carol Failor, Deputy City Clerk, 715
Mulberry Street, Waterloo, Iowa.
RESOLUTION NO. 2011-663
RESOLUTION APPROVING ASSIGNMENT OF REBATES
UNDER PRIOR DEVELOPMENT AGREEMENT WITH J. L.
HOLLEN, LLC FOR PROPERTY GENERALLY LOCATED AT
320-322 EAST 4TH STREET, COMMONLY KNOWN AS
THE CU RESTAURANT.
WHEREAS, J. L. Hollen, LLC entered into a Development
Agreement with the City of Waterloo, Iowa on December 12, 2005 for
the development of property generally located at 320-322 East 4th
Street, and
WHEREAS, the developer was given tax rebates for the added
value of the project, and
WHEREAS, the property has been sold and the Development
Agreement states that assignment of tax rebates is eligible and
that the Assignment of Rebates will allow the new owner, JSA
Development, LLC, to receive the tax rebates.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the Assignment of Rebates for property
generally located at 320-322 East 4th Street, be and the same is
hereby approved.
PASSED AND ADOPTED this
ATTEST:
11th day of July, 2011.
nest lark, Maydr
-uvvCa of Failor, Deputy City Clerk