HomeMy WebLinkAbout2025-288-05.05.2025.doc (RECORDED) Docusign Envelope ID:782DEE4A-D16F-4EC8-A526-8CB5299F6705 2025-07479
RECORDED:06/02/2025 09:31:56 AM
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. 2025-288
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH PWM 1 WAREHOUSE,
TO AMEND THE PERCENTAGE OF PROPERTY TAX
REBATES FOR YEARS TWELVE THROUGH SEVENTEEN IN
THE REBATE SCHEDULE, FOR A BUILDING LOCATED AT
3460 MARNIE AVENUE, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS the City of Waterloo and PWM 1 Warehouse entered into a Development
Agreement providing property tax rebates as an economic incentive for the development of the
property located at 3460 Mamie Avenue; and
WHEREAS, an amendment has been proposed to modify the percentage terms of the
property tax rebates for years twelve through seventeen within the established rebate schedule;
and
WHEREAS, the proposed amendment has been assessed for its alignment with the city's
economic development goals and fiscal policies, and has been recommended for approval by
relevant city departments;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The amendment to the Development Agreement with PWM 1 Warehouse, amending
the percentage of property tax rebates for years twelve through seventeen, is hereby approved.
2. 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 5th day of May 2025.
DDocuSignned by: .It
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T Quentin H�5Aart,Mayor
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Kelley Felchle, City Clerk
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Docusign Envelope ID: 782DEE4A-D16F-4EC8-A526-8CB5299F6705
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-288
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH PWM 1 WAREHOUSE,
TO AMEND THE PERCENTAGE OF PROPERTY TAX
REBATES FOR YEARS TWELVE THROUGH SEVENTEEN IN
THE REBATE SCHEDULE, FOR A BUILDING LOCATED AT
3460 MARNIE AVENUE, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS the City of Waterloo and PWM 1 Warehouse entered into a Development
Agreement providing property tax rebates as an economic incentive for the development of the
property located at 3460 Marnie Avenue; and
WHEREAS, an amendment has been proposed to modify the percentage terms of the
property tax rebates for years twelve through seventeen within the established rebate schedule;
and
WHEREAS, the proposed amendment has been assessed for its alignment with the city's
economic development goals and fiscal policies, and has been recommended for approval by
relevant city departments;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The amendment to the Development Agreement with PWM 1 Warehouse, amending
the percentage of property tax rebates for years twelve through seventeen, is hereby approved.
2. 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 5th day of May 2025.
LDocuSigned by:
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Quentin art, Mayor
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Kelley ran City Clerk
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