HomeMy WebLinkAbout2025-319-06.02.2025.docDocusign Envelope ID: F820E014-BAB8-4D39-8EF1-5AFD754AD52C
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-319
RESOLUTION SETTING DATE OF PUBLIC HEARING AS
JUNE 16, 2025, FOR THE SALE AND CONVEYANCE OF 7.57
ACRES OF CITY -OWNED PROPERTY LOCATED NORTH OF
4050 LEVERSEE ROAD, IN THE AMOUNT OF $712,000.00,
TO ZYDECO INVESTMENTS, LLC., WITH A
DEVELOPMENT AGREEMENT INCLUDING FIFTEEN -
YEARS OF FIFTY PERCENT TAX REBATES, AND A
MINIMUM ASSESSMENT AGREEMENT OF $3,000,000.00,
FOR THE CONSTRUCTION OF A BUILDING OR
EXPANSION OF NO LESS THAN 50,000 SQUARE FEET, AND
INSTRUCT THE CITY CLERK TO PUBLISH NOTICE.
WHEREAS the City of Waterloo, Iowa, proposes to sell and convey approximately 7.57
acres of city -owned property located north of 4050 Leversee Road in the amount of $712,000.00
to Zydeco Investments, LLC; and
WHEREAS, the proposed sale includes a Development Agreement that provides for
fifteen years of fifty percent tax rebates, as well as a Minimum Assessment Agreement
stipulating a valuation of no less than $3,000,000.00, for the construction or expansion of a
building of no less than 50,000 square feet; and
WHEREAS, a public hearing is required to ensure transparent consideration of the
proposed sale, conveyance, and terms of the accompanying agreements, and to receive input from
community members and stakeholders;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. A public hearing to discuss the proposed sale, conveyance, Development Agreement,
and Minimum Assessment Agreement, is hereby scheduled for June 16, 2025, at 5:30 p.m. in the
City Council Chambers.
2. The public hearing will provide an opportunity for public comments and evaluation of
the proposed transaction and agreements, examining their impact on community growth,
economic development, and alignment with municipal land use objectives.
3. 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 2nd day of June 2025.
LD0525D7OAAC0449 .
Quentin Hart Mayor
ATTEST:
Signed by:
4:4„,„„ q. n
'-756-I-D3A01 4...
LeAnn M. Even, Deputy City Clerk
SEAL
DocuSigned by: