HomeMy WebLinkAbout2025-016-01.06.2025Prepared Nancy Higby, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA
50703, (319) 291-4323.
RESOLUTION NO. 2025-016
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH INTERNATIONAL PAPER COMPANY,
FOR THE CONSTRUCTION OF 800,000 SQUARE FEET OF
INDUSTRIAL BUILDING WITH TAX REBATES FOR
FIFTEEN YEARS AT FIFTY PERCENT WITH A MINIMUM
ASSESSED VALUE OF $40,000,000.00 AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA
AS FOLLOWS:
1. That the Development Agreement dated January 6, 2025, with International Paper
Company, for the construction of 800,000 square feet of industrial building with tax rebates for
fifteen years at fifty percent with a minimum assessed value of $40,000,000.00, is hereby
approved.
2. That the Mayor and City Clerk are authorized and directed to execute said documents
on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 6th day of January 2025.
ATTEST:
l(elley Felchle
Kelley Felchle, City Clerk
CERTIFICATE
Quentin 9-(art
Quentin Hart, Mayor
I, Kelley Felchle, Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2025-016 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 6th day of January 2025.
Witness my hand and seal of office this 6th day of January 2025.
Kelley Felcfile
Kelley Felchle, City Clerk
SEAL
P
ti
, ? 0