HomeMy WebLinkAbout2025-369-(RECORDED) 06.16.2025.doc 2025-15330
Docusign Envelope ID:C5437E67-2B88-4253-9B6F-D49108784CF5 RECORDED:10/17/2025 03:46:24 PM
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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. 2025-369
RESOLUTION APPROVING A SECOND AMENDMENT TO
THE DEVELOPMENT AGREEMENT WITH DEER ACRES,
LLC, TO AMEND THE TIMELINE OF COMPLETION OF
TWO UPPER-STORY RESIDENTIAL UNITS, LOCATED AT
1427 WEST 3RD STREET,AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID AGREEMENT.
WHEREAS, the City of Waterloo has recognized the potential in revitalizing the 1427
West 3rd Street property through a Development Agreement with Deer Acres, LLC, which
includes the addition of upper-story residential units to enhance local housing options and
community development; and
WHEREAS, the City Council previously approved said Development Agreement to
support residential growth and urban renewal at this location; and
WHEREAS,the parties have agreed to amend the terms of the original Development
Agreement to update the completion timeline for the two upper-story residential units, ensuring
realistic and achievable project milestones; and
WHEREAS, it is in the City's interest to proceed with approving this amendment to
facilitate the successful continuation of the project;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The City Council hereby approves the second amendment to the Development
Agreement with Deer Acres, LLC, specifically for amending the timeline for completing the
two upper-story residential units at 1427 West 3rd Street.
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 16'i' day of June 2025.
,—DocuSigned by:
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Quentin Hart,mayor
ATTEST:
"---Signed by:
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Nancy Rigby, Deputy City Clerk
SEAL
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Docusign Envelope ID: C5437E67-2B88-4253-9B6F-D49108784CF5
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-369
RESOLUTION APPROVING A SECOND AMENDMENT TO
THE DEVELOPMENT AGREEMENT WITH DEER ACRES,
LLC, TO AMEND THE TIMELINE OF COMPLETION OF
TWO UPPER -STORY RESIDENTIAL UNITS, LOCATED AT
1427 WEST 3RD STREET, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID AGREEMENT.
WHEREAS, the City of Waterloo has recognized the potential in revitalizing the 1427
West 3rd Street property through a Development Agreement with Deer Acres, LLC, which
includes the addition of upper -story residential units to enhance local housing options and
community development; and
WHEREAS, the City Council previously approved said Development Agreement to
support residential growth and urban renewal at this location; and
WHEREAS, the parties have agreed to amend the terms of the original Development
Agreement to update the completion timeline for the two upper -story residential units, ensuring
realistic and achievable project milestones; and
WHEREAS, it is in the City's interest to proceed with approving this amendment to
facilitate the successful continuation of the project;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The City Council hereby approves the second amendment to the Development
Agreement with Deer Acres, LLC, specifically for amending the timeline for completing the
two upper -story residential units at 1427 West 3rd Street.
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 16th day of June 2025.
DocuSigned by:
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C449...
Quentin art, Mayor
ATTEST:
Signed by:
Nancy ig y rli"eputy City Clerk
SEAL