HomeMy WebLinkAbout2025-469-08.18.2025.docDocusign Envelope ID: BE3E7469-3253-4ADA-8ABC-5735DEF4862B
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-469
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH HALF DOZEN PROPERTIES, FOR THE
CONSTRUCTION OF A TWO-FAMILY DWELLING, HAVING
AN APPROXIMATE VALUE OF $320,000.00, AND AN INFILL
INCENTIVE GRANT OF $10,000.00, AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, is committed to encouraging the development
and utilization of existing vacant properties within the city limits to enhance community growth
and economic development; and
WHEREAS, Half Dozen Properties, LLC, plans to construct a two-family dwelling on
such a vacant property, which will provide modern housing options and contribute to the
community's housing goals; and
WHEREAS, the proposed construction holds an approximate value of $320,000.00,
signifying a notable investment in city infrastructure and housing development; and
WHEREAS, to support this development, the City of Waterloo has agreed to provide an
infill incentive grant of $10,000.00 to Half Dozen Properties, LLC, to facilitate the project; and
WHEREAS, execution of a Development Agreement is deemed necessary to formalize
the terms and conditions governing the project and the incentive grant.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement with Half Dozen Properties, LLC, concerning the
construction of a two-family dwelling with an approximate value of $320,000.00, along with the
provision of a $10,000.00 infill incentive grant, 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 18th day of August 2025.
ATTEST:
Signed by:
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Kelley`Felcbit; City Clerk
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,-DocuSigned by:
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Quentin Hart, Mayor