HomeMy WebLinkAbout2024-675-11.18.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-675
A RESOLUTION SETTING THE DATE FOR A PUBLIC
HEARING ON THE REAL ESTATE PURCHASE
AGREEMENT WITH 1515 SYCAMORE, LLC FOR THE
PURCHASE OF THE FORMER RATH ADMINISTRATION
BUILDING AND A VACATED PORTION OF ELM STREET
AND APPROVING A SECOND AMENDMENT TO THE
DEVELOPMENT AGREEMENT FOR THE SALE AND
CONVEYANCE OF ELM STREET.
WHEREAS, the City of Waterloo, Iowa, is considering a real estate purchase agreement
with 1515 Sycamore, LLC, for the acquisition of the former Rath Administration Building and a
vacated portion of Elm Street; and
WHEREAS, an amendment to the existing development agreement concerning the sale
and conveyance of Elm Street, including areas located at and adjacent to 1515 Sycamore Street,
is proposed; and
WHEREAS, Iowa Code requires a public hearing before the City can finalize the sale or
disposition of public property or enter into development agreements involving public interests;
and
WHEREAS, the proposed transaction and amendment are intended to facilitate strategic
redevelopment efforts and economic growth within the Elm Street corridor.
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 real estate purchase agreement with 1515 Sycamore, LLC, and the
second amendment to the development agreement concerning Elm Street.
by law.
2. The City Clerk is hereby directed to publish notice of said public hearing as required
3. This resolution shall take effect upon its passage and approval.
PASSED AND ADOPTED this 18th day of November 2024.
Quentin Hart, Mayor
ATTEST:
7(elley Felchle
Kelley Felchle, City Clerk
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