HomeMy WebLinkAbout2025-471-08.18.2025.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. 2025-471
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH 5 BEES, LLC, FOR THE
CONSTRUCTION OF A 2,560-SQUARE-FOOT BUILDING,
WITH AN APPROXIMATE VALUE OF $178,000.00 AND
OPTIONS FOR ADDITIONAL LAND AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, is dedicated to fostering economic development
and growth by facilitating construction projects that utilize available land effectively; and
WHEREAS, 5 Bees, LLC, proposes to construct a 2,560-square-foot building with an
approximate value of $178,000.00 on city land, which aligns with the city's strategic
development objectives; and
WHEREAS, the Development Agreement includes provisions for the construction of the
building and options for additional land, thus allowing for potential future expansion or
development by 5 Bees, LLC; and
WHEREAS, the authorization of this agreement will stimulate local economic growth,
create potential job opportunities, and effectively utilize city land.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement with 5 Bees, LLC, addressing the construction of a
2,560-square-foot building with an approximate value of $178,000.00 and including options for
additional land, 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: �s�
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Kele133T?e'1c ae, City Clerk
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Quentin art, Mayor