HomeMy WebLinkAbout2024-672-11.18.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-672
A RESOLUTION SETTING DATE OF PUBLIC HEARING AS
DECEMBER 2, 2024, FOR THE SALE AND CONVEYANCE
OF CITY -OWNED PROPERTIES LOCATED AT 1027 W. 3RD
STREET AND 128 LINCOLN STREET, IN THE AMOUNT OF
$25,200.00, TO ROCK STAR REAL ESTATE, LLC,
INCLUDING APPROVAL OF A DEVELOPMENT
AGREEMENT FOR THE REHABILITATION OF THE HOMES,
A GRANT OF $10,000.00 FOR PARTIAL PURCHASE PRICE
REFUND AND A GRANT OF $10,000.00 FOR INFILL
HOUSING DEVELOPMENT, AND INSTRUCT THE CITY
CLERK TO PUBLISH NOTICE.
WHEREAS, the City of Waterloo, Iowa, proposes to sell and convey city -owned
properties located at 1027 W. 3rd Street and 128 Lincoln Street to Rock Star Real Estate, LLC
for the amount of $25,200.00; and
WHEREAS, the transaction includes approval of a Development Agreement with Rock
Star Real Estate, LLC for the rehabilitation of these properties, as well as provisions for a grant
of $10,000.00 towards a partial purchase price refund and an additional grant of $10,000.00 for
infill housing development; and
WHEREAS, it is necessary to set the date for a public hearing to receive citizen input and
provide transparency before finalizing the sale and conveyance, in addition to meeting statutory
requirements for the disposition of city -owned property.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The Council of the City of Waterloo, Iowa, shall meet in the Harold E. Getty Council
Chambers at City Hall, Waterloo, Iowa, at 5:30 p.m. on the 2nd day of December 2024, to hold a
public hearing to discuss the sale and conveyance of city -owned properties located at 1027 W.
3rd Street and 128 Lincoln Street.
2. The purpose of the hearing is to allow for public input on the sale and conveyance of
city -owned properties located at 1027 W. 3rd Street and 128 Lincoln Street, in the amount of
$25,200.00, to Rock Star Real Estate, LLC, including approval of a Development containing
provisions for a grant of $10,000.00 towards a partial purchase price refund and an additional
grant of $10,000.00 for infill housing development.
by law.
3. The City Clerk is hereby directed to publish notice of said public hearing as required
4. This resolution shall take effect upon its passage and approval.
PASSED AND ADOPTED this 18d' day of November 2024.
O/ /e r n �' 4 r ( INED
Dili U L � (i SIGNED
Quentin Hart, Mayor
Resolution 2024-672
Page 2
ATTEST:
(elley Felchle
Kelley Felchle, City Clerk
SEAL