HomeMy WebLinkAbout2025-294-05.19.2025.docDocusign Envelope ID: D1887290-40D3-4C21-B0E5-5AC38030FD10
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-294
A RESOLUTION SETTING THE DATE OF PUBLIC HEARING
AS JUNE 2, 2025, FOR THE SALE AND CONVEYANCE OF
CITY -OWNED PROPERTY LOCATED SOUTH OF 115 WARP
DRIVE IN THE AMOUNT OF $1.00, TO 3 STOOGES, LLC,
WITH A DEVELOPMENT AGREEMENT INCLUDING TEN
YEARS OF FIFTY PERCENT TAX REBATES, AND A
MINIMUM ASSESSMENT AGREEMENT OF $3,200,000.00,
AND INSTRUCT THE CITY CLERK TO PUBLISH NOTICE.
WHEREAS, the City of Waterloo, Iowa, owns certain real property located south of 115
Warp Drive; and
WHEREAS, 3 Stooges, LLC has expressed interest in purchasing said property for the
nominal amount of $1.00, subject to a Development Agreement including ten years of fifty
percent tax rebates and a Minimum Assessment Agreement of $3,200,000.00; and
WHEREAS, in accordance with statutory requirements, it is necessary to set a date for a
public hearing on the proposed sale and conveyance, and to instruct the City Clerk to publish
notice thereof;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. That a public hearing shall be held June 2, 2025, at 5:30 p.m., in the City Council
Chambers, City Hall, Waterloo, Iowa, to consider the sale and conveyance of city -owned
property south of 115 Warp Drive to 3 Stooges, LLC as outlined in the Development Agreement
and Minimum Assessment Agreement.
2. All citizens and interested parties are invited to attend and participate in the hearing to
express their views regarding the proposed Site Plan Amendment.
3. That the City Clerk is hereby directed to publish notice of said public hearing in
accordance with applicable laws and city policies, ensuring adequate notice to the public.
PASSED AND ADOPTED this 19th day of May 2025.
ATTEST:
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Kel ey e c 1e, City Clerk
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Quentin art, Mayor