HomeMy WebLinkAbout2024-654-11.04.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-654
A RESOLUTION APPROVING A FARM LEASE
AGREEMENT BEGINNING MARCH 1, 2025, AND EXPIRING
FEBRUARY 28, 2026, WITH LANEHAVEN FARMS, INC., TO
FARM APPROXIMATELY 70.25 ACRES OF LAND LOCATED
EAST OF 4719 ANSBOROUGH AVENUE AT $300.00 PER
ACRE FOR ANNUAL RENTAL PAYMENT OF $21,075.00,
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo owns approximately 70.25 acres of land located east of
4719 Ansborough Avenue that is suitable for agricultural use; and
WHEREAS Lanehaven Farms, Inc., has proposed to lease this land for farming purposes,
which aligns with the city's interests and ensures the productive use of the land; and
WHEREAS, a Farm Lease Agreement has been negotiated, commencing on March 1,
2025, and expiring on February 28, 2026, with an agreed rental rate of $300.00 per acre,
resulting in an annual rental payment of $21,075.00; and
WHEREAS, it is in the best interest of the City to enter into this Lease Agreement under
the terms set forth to support local agriculture and provide a revenue stream for the City.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The Farm Lease Agreement with Lanehaven Farms, Inc., for the farming of
approximately 70.25 acres of land located east of 4719 Ansborough Avenue is hereby approved,
subject to terms and conditions contained therein.
2. The Lease shall commence on March 1, 2025, and expire on February 28, 2026, with
annual rent calculated at $300.00 per acre with a total of $21,075 per year.
3. The Mayor and City Clerk are hereby authorized and directed to execute said Lease
Agreement on behalf of the City of Waterloo, Iowa.
4. This resolution shall take effect upon its passage and approval.
PASSED AND ADOPTED this 4t day of November 2024.
Peu-SS
Ray Feuss, Mayor Pro Tem
ATTEST:
Mary 9l 6
Nancy Hi b De u it
Y g Y, p y Y
SEAL
Resolution 2024-323
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