HomeMy WebLinkAbout2011-375-05/09/2011This Resolution prepared by Carol Failor, Deputy City Clerk, 715
Mulberry Street, Waterloo, Iowa.
RESOLUTION NO. 2011-375
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH OFI PROPERTIES, LLC AND DIRECTING
EXECUTION OF SAID AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated May 9, 2011, to sell and
convey for $1.00, plus costs, approximately 2.48 acres of city -
owned land generally located on GT Drive in the Northeast
Industrial Park, for the construction of a new 17,500 square foot
industrial building with a minimum taxable value of $510,000.00,
by and between OFI Properties, LLC of Waterloo, Iowa and the City
of Waterloo, Iowa, be and the same is hereby approved, and the
Mayor and City Clerk authorized to execute the same in behalf of
the City of Waterloo, Iowa.
PASSED AND ADOPTED this
ATTEST:
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Suzy SchaCM
City Cler
9th day o May, 2011.
Ernest G. Clark, Mayor