HomeMy WebLinkAbout2025-588-10.20.2025.docDocusign Envelope ID: FC6FFF10-57C3-46D1-9826-EFDC21F34FOF
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-588
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH HALF DOZEN
PROPERTIES FOR THE CONSTRUCTION OF A NEW
DUPLEX LOCATED WEST OF 720 UPTON AVENUE, WITH
A MINIMUM ASSESSMENT AGREEMENT, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, and Half Dozen Properties, entered into a
Development and Agreement on August 18, 2025, regarding the construction of a new duplex
located west of 720 Upton Avenue; and
WHEREAS, the City seeks to include a Minimum Assessment Agreement to ensure a
consistent valuation for tax purposes and enhance community development; and
WHEREAS, the City Council has reviewed the amendment proposal and finds it aligns
with the City's development objectives.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The proposed Amendment to the Development Agreement with Half Dozen
Properties is hereby approved.
2. A Minimum Assessment Agreement is established, setting the minimum assessed
value of the new duplex at $320,000.00, ensuring stable tax revenue for the City.
3. The Mayor and City Clerk are authorized and directed to execute said document on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 20th day of October 2025.
DocuSigned by:
ATTEST:
"—Signed by:
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