HomeMy WebLinkAbout2024-729-12.02.2024 (RECORDED) 2025-01755
RECORDED:02/06/2025 02:13:42 PM
RECORDING FEE:$12.00
REVENUE TAX:$
COMBINED FEE:$12.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
- Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-729
A RESOLUTION APPROVING A SECOND AMENDMENT TO
THE DEVELOPMENT AGREEMENT WITH 1515
SYCAMORE, LLC IN CONJUNCTION WITH THE
REHABILITATION OF 1515 SYCAMORE STREET CONVEY
A PORTION OF VACATED ELM STREET AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
WHEREAS, the City of Waterloo has previously entered into a Development Agreement
with 1515 Sycamore, LLC on April 15, 2024, to facilitate the rehabilitation of the property located
at 1515 Sycamore Street; and
WHEREAS, the development project includes the conveyance of a portion of vacated Elm
Street; and
WHEREAS, a Second Amendment to the Development Agreement is necessary to convey
said vacated portion of Elm Street in the future, which is conducive to the successful completion of
the rehabilitation project; and
WHEREAS, the City Council finds this second amendment to be in the best interest of the
City and its residents by fostering community growth and redevelopment;and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
I. The Second Amendment to the Development Agreement between the City of Waterloo
and 1515 Sycamore, LLC is hereby approved. The Amendment further defines the rights, duties,
and obligations of each party in relation to the rehabilitation of 1515 Sycamore Street.
2. The Amendment acknowledges the conveyance of a portion of vacated Elm Street as
part of the Development Agreement.
3. The Mayor and City Clerk are authorized and directed to execute said document on behalf
of the City of Waterloo, Iowa.
4. This resolution shall take effect upon its passage and approval.
PASSED AND ADOPTED this 2"`' day of December 2024.
Quetth'i 9- r
ATTEST: Quentin Hart, Mayor
Kelley c'elchle M'
Kelley Felchle, City Clerk
Resolution 2024-729
Page 2
CERTIFICATE
I, Kelley Felchle City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No.2024-729 as passed and adopted by the
City Council of the City of Waterloo,Iowa,on the 2"d day of December 2024.
Witness my hand and seal of office on this 2"d day of December 2024.
7(effey Fet-ch
SIGNED
SEAL Kelley Felchle,City Clerk
OF WA?
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Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-729
A RESOLUTION APPROVING A SECOND AMENDMENT TO
THE DEVELOPMENT AGREEMENT WITH 1515
SYCAMORE, LLC IN CONJUNCTION WITH THE
REHABILITATION OF 1515 SYCAMORE STREET CONVEY
A PORTION OF VACATED ELM STREET AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENTS.
WHEREAS, the City of Waterloo has previously entered into a Development Agreement
with 1515 Sycamore, LLC on April 15, 2024, to facilitate the rehabilitation of the property located
at 1515 Sycamore Street; and
WHEREAS, the development project includes the conveyance of a portion of vacated Elm
Street; and
WHEREAS, a Second Amendment to the Development Agreement is necessary to convey
said vacated portion of Elm Street in the future, which is conducive to the successful completion of
the rehabilitation project; and
WHEREAS, the City Council finds this second amendment to be in the best interest of the
City and its residents by fostering community growth and redevelopment; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The Second Amendment to the Development Agreement between the City of Waterloo
and 1515 Sycamore, LLC is hereby approved. The Amendment further defines the rights, duties,
and obligations of each party in relation to the rehabilitation of 1515 Sycamore Street.
2. The Amendment acknowledges the conveyance of a portion of vacated Elm Street as
part of the Development Agreement.
3. The Mayor and City Clerk are authorized and directed to execute said document on behalf
of the City of Waterloo, Iowa.
4. This resolution shall take effect upon its passage and approval.
PASSED AND ADOPTED this 2nd day of December 2024.
ATTEST:
7(elley Felchle
Kelley Felchle, City Clerk
Qcuer 9(rr
Quentin Hart, Mayor
Resolution 2024-729
Page 2
CERTIFICATE
I, Kelley Felchle City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2024-729 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 2nd day of December 2024.
Witness my hand and seal of office on this 2nd day of December 2024.
Kelley Felchle
Kelley Felchle, City Clerk