HomeMy WebLinkAbout2025-565-10.06.2025.docDocusign Envelope ID: 7EC7OBA3-A5C5-422A-9E93-8A3E31680A25
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Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-565
RESOLUTION APPROVING THE CEDAR SKYLINE
CORPORATION (DOING BUSINESS AS MAIN STREET
WATERLOO) PARKING LOT LOAN REFINANCING AND
CONTINUED LOAN GUARANTEE, BY THE CITY OF
WATERLOO, IN AN AMOUNT NOT TO EXCEED
$124,981.54, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID DOCUMENTS.
WHEREAS, Cedar Skyline Corporation, operating as Main Street Waterloo, has
requested loan refinancing to support the development and maintenance of a parking lot facility;
and
WHEREAS, the City of Waterloo recognizes the significance of supporting local
infrastructure and economic activities through strategic financial assistance; and
WHEREAS, the proposed refinancing and loan guarantee by the City will provide
necessary financial stability and enable ongoing community and economic benefits; and
WHEREAS, the total amount of loan refinancing and guarantee shall not exceed
$124,981.54.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The refinancing of the parking lot loan for Cedar Skyline Corporation (dba Main Street
Waterloo) and the continued loan guarantee by the City of Waterloo, not to exceed $124,981.54,
are 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 6tn day of October 2025.
,-DocuSigned by:
—D0525D C84 9..
Quentin Hart, Mayor