HomeMy WebLinkAbout2025-558-10.06.2025.docDocusign Envelope ID: 7EC7OBA3-A5C5-422A-9E93-8A3E31680A25
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-558
RESOLUTION AUTHORIZING THE SALE AND
CONVEYANCE OF A PORTION OF THE PROPERTY TO THE
SOUTHWEST OF 3211 TITAN TRAIL, TO XCEL ELECTRIC
LLC, IN THE AMOUNT OF $1.00, FOR THE CONSTRUCTION
OF A 4,000 SQUARE FOOT BUILDING, AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENTS.
WHEREAS a portion of the property located southwest of 3211 Titan Trail has been
identified as surplus to the needs of the City of Waterloo; and
WHEREAS, Xcel Electric LLC has expressed interest in acquiring the property for the
purpose of constructing a 4,000 square foot building that will enhance local business operations
and economic development; and
WHEREAS, the proposed sale price of $1.00 is deemed adequate for the promotion of
economic growth and development in the area; and
WHEREAS, it is necessary to authorize the execution of all documents related to this
conveyance to finalize the property transfer.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. That the sale and conveyance of the property to Xcel Electric LLC for the price of
$1.00 is hereby approved.
2. That the construction of a 4,000 square foot building on the property is endorsed as
beneficial for economic development in the City of Waterloo.
3. 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 6th day of October 2025.
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Quentin Hart, Mayor