HomeMy WebLinkAbout2025-305-05.19.2025.doc (RECORDED Docusign Envelope ID:D1887290-40D3-4C21-BOE5-5AC38030FD10
2025-13352
RECORDED:09/11/2025 02:40:58 PM
RECORDING FEE:$7.00
REVENUE TAX:$
COMBINED FEE:$7.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
-City CA Lamer kk-o
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-305
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH TWIN CARD HOLDINGS LLC, WITH A
MINIMUM ASSESSMENT AGREEMENT OF $135,000.00,
AND THE CURA TAX ABATEMENT, FOR THE
CONSTRUCTION OF A 4,500-SQUARE-FOOT BUILDING
SOUTHWEST OF 1010 COMMERCIAL STREET, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, Twin Card Holdings LLC has proposed the construction of a 4,500-square-
foot building on property located southwest of 1010 Commercial Street; and
WHEREAS, a Development Agreement has been negotiated to include a Minimum
Assessment Agreement of $135,000.00 and the provision of the CURA tax abatement,
supporting the City's goals for economic and community development; and
WHEREAS, the City Council considers it in the best interest of the City to enter into this
Development Agreement to facilitate the proposed development;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The Development Agreement with Twin Card Holdings LLC, including the
Minimum Assessment Agreement of$135,000.00 and the provision for CURA tax abatement, is
hereby approved for the construction of a 4,500-square-foot building southwest of 1010
Commercial Street..
2. The Mayor and City Clerk are authorized and directed to execute said document
on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 19th day of May 2025.
,--DocuSigned by:
'-00525D78AAC8449...
Quentin Hart Mayor
ATTEST:
rDocuSigned by:
A02DC1CCODAD441'...
Kelley Felchle, City Clerk
SEAL
4.4000er:.
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Docusign Envelope ID: D1887290-40D3-4C21-B0E5-5AC38030FD10
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-305
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH TWIN CARD HOLDINGS LLC, WITH A
MINIMUM ASSESSMENT AGREEMENT OF $135,000.00,
AND THE CURA TAX ABATEMENT, FOR THE
CONSTRUCTION OF A 4,500-SQUARE-FOOT BUILDING
SOUTHWEST OF 1010 COMMERCIAL STREET, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, Twin Card Holdings LLC has proposed the construction of a 4,500-square-
foot building on property located southwest of 1010 Commercial Street; and
WHEREAS, a Development Agreement has been negotiated to include a Minimum
Assessment Agreement of $135,000.00 and the provision of the CURA tax abatement,
supporting the City's goals for economic and community development; and
WHEREAS, the City Council considers it in the best interest of the City to enter into this
Development Agreement to facilitate the proposed development;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The Development Agreement with Twin Card Holdings LLC, including the
Minimum Assessment Agreement of $135,000.00 and the provision for CURA tax abatement, is
hereby approved for the construction of a 4,500-square-foot building southwest of 1010
Commercial Street..
2. The Mayor and City Clerk are authorized and directed to execute said document
on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 19th day of May 2025.
/—DocuSigned by:
C &( JiUL,
DOS 25D78AAC8449...
Quentin Hart Mayor
ATTEST:
�DocuSigned by:
KeECej FePd&
A02DC1CCOOAD441-
...
Kelley Felchle, City Clerk
SEAL