HomeMy WebLinkAbout2012-1069-11/05/2012Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703.
RESOLUTION NO. 2012-1069
RESOLUTION APPROVING MEMORANDUM OF AGREEMENT
REGARDING PRORATING OF REAL ESTATE TAXES WITH
JOHN E. STURTZ AND L AND H FARMS, LTD. AND
DIRECTING EXECUTION OF SAID MEMORANDUM OF
AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Memorandum of Agreement Regarding Prorating of Real
Estate Taxes dated November 5, 2012, to prorate real estate taxes
in conjunction with the Exchange Agreement and Assignment of
Offer to Buy Real Estate and Acceptance between the City of
Waterloo and L and H Farms, Ltd. for the acquisition of property
in Black Hawk County for exchange of property in the San Marnan
TIF District in the amount of $333,000.00 for 8.375 acres of land
acquired and an Option Exchange Agreement, by and between John E.
Sturtz, L and H Farms, Ltd. and the City of Waterloo, Iowa, be
and the same is hereby approved, and the Mayor and City Clerk
authorized to execute the same in behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 5th day f November, 2012.
Ernest Gr Clark, Mayor
ATTEST:
Sch r CMC
City Cle k