HomeMy WebLinkAbout2024-742-12.02.2024 (RECORDED) 2024-25090
RECORDED: 12/19/2024 12:04:52 PM
RECORDING FEE:$7.00
REVENUE TAX:$
COMBINED FEE:$7.00
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. 2024-742
A RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AND PURCHASE AGREEMENT WITH RYAN
COMPANIES US, INC., AMENDING SECTION 9.B OF THE
DEVELOPMENT AGREEMENT AND SECTION ONE OF THE
PURCHASE AGREEMENT, TO CHANGE THE PURCHASE
PRICE FROM $2,139,000.00 TO $2,276,875.50, LOCATED AT
3280 NEWELL STREET, AND AUTHORIZING MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENTS.
WHEREAS, the City of Waterloo previously entered into a Development and Purchase
Agreement with Ryan Companies US, Inc. concerning the property located at 328 Newell Street;
and
WHEREAS, Section 9.B of the Development Agreement and Section One of the Purchase
Agreement stipulate the terms and purchase price of the property, initially set at $2,139,000.00; and
WHEREAS, both parties have agreed to amend the purchase price to $2,276,875.50 to
reflect adjustments mutually accepted based on development requirements and valuation
assessments completed subsequent to the original agreement; and
WHEREAS, this amendment is considered necessary to facilitate the continued success and
mutual benefit outlined in the development project, in alignment with the City's strategic
development objectives; and
WHEREAS, the City Council has reviewed and supports this amendment as it advances the
city's economic and community goals.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. That the amendment to Section 9.B of the Development Agreement and Section One of
the Purchase Agreement with Ryan Companies US, Inc. changing the purchase price from
$2,139,000.00 to $2,276,875.50 for the property located at 328 Newell Street is hereby approved.
2. That the Mayor and City Clerk are authorized and directed to execute said document
on behalf of the City of Waterloo, Iowa.
3. This resolution shall become effective immediately upon its passage and approval by
the City Council.
PASSED AND ADOPTED this 2nd day of December 2024.
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ATTEST: Quentin Hart, Mayor
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Kelley Felchle, City Clerk
SEAL
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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. 2024-742
A RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AND PURCHASE AGREEMENT WITH RYAN
COMPANIES US, INC., AMENDING SECTION 9.B OF THE
DEVELOPMENT AGREEMENT AND SECTION ONE OF THE
PURCHASE AGREEMENT, TO CHANGE THE PURCHASE
PRICE FROM $2,139,000.00 TO $2,276,875.50, LOCATED AT
3280 NEWELL STREET, AND AUTHORIZING MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENTS.
WHEREAS, the City of Waterloo previously entered into a Development and Purchase
Agreement with Ryan Companies US, Inc. concerning the property located at 328 Newell Street;
and
WHEREAS, Section 9.B of the Development Agreement and Section One of the Purchase
Agreement stipulate the terms and purchase price of the property, initially set at $2,139,000.00; and
WHEREAS, both parties have agreed to amend the purchase price to $2,276,875.50 to
reflect adjustments mutually accepted based on development requirements and valuation
assessments completed subsequent to the original agreement; and
WHEREAS, this amendment is considered necessary to facilitate the continued success and
mutual benefit outlined in the development project, in alignment with the City's strategic
development objectives; and
WHEREAS, the City Council has reviewed and supports this amendment as it advances the
city's economic and community goals.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. That the amendment to Section 9.B of the Development Agreement and Section One of
the Purchase Agreement with Ryan Companies US, Inc. changing the purchase price from
$2,139,000.00 to $2,276,875.50 for the property located at 328 Newell Street is hereby approved.
2. That the Mayor and City Clerk are authorized and directed to execute said document
on behalf of the City of Waterloo, Iowa.
3. This resolution shall become effective immediately upon its passage and approval by
the City Council.
PASSED AND ADOPTED this 2nd day of December 2024.
ATTEST:
Kelley Felchle
Kelley Felchle, City Clerk
SEAL
QueftWz 9--(rr-1
Quentin Hart, Mayor