HomeMy WebLinkAbout2025-686-12.01.2025.docDocusign Envelope ID: 2A40818A-4C04-4B05-8CFC-A57BAE9A7CF0
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-686
RESOLUTION SETTING DATE OF PUBLIC HEARING AS
DECEMBER 15, 2025, FOR THE SALE AND CONVEYANCE
OF APPROXIMATELY 4.22 ACRES OF CITY -OWNED
PROPERTY, LOCATED EAST OF 4050 LEVERSEE ROAD, IN
THE AMOUNT OF $1.00, TO RNK INVESTMENTS, LLC,
INCLUDING A PHASED DEVELOPMENT AND MINIMUM
ASSESSMENT AGREEMENT, FOR THE CONSTRUCTION OF
A 12,000 SQUARE FOOT COMMERCIAL BUILDING, AND A
FUTURE 12,000 SQUARE FOOT EXPANSION, WITH AN
APPROXIMATE VALUE OF $1,500,000.00, LOCATED
SOUTHEAST OF 180 WARP DRIVE, AND INSTRUCT THE
CITY CLERK TO PUBLISH NOTICE.
WHEREAS, the City of Waterloo, Iowa, intends to sell and convey approximately 4.22
acres of city -owned property, located east of 4050 Leversee Road, to RNK Investments, LLC;
and
WHEREAS, the conveyance will facilitate the construction of a 12,000 square foot
commercial building, with a future 12,000 square foot expansion, having an approximate value
of $1,500,000.00; and
WHEREAS, the property will be transferred for the nominal amount of $1.00, and is
subject to a Phased Development and Minimum Assessment Agreement to ensure compliance
with city development goals; and
WHEREAS, Iowa law requires a public hearing before the sale and conveyance of city -
owned property.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The public hearing be set for December 15, 2025, to discuss the proposed sale and
conveyance of the property located east of 4050 Leversee Road to RNK Investments, LLC.
2. The City Clerk is hereby directed to publish notice of said public hearing in accordance
with applicable laws and city policies, ensuring adequate notice to the public.
PASSED AND ADOPTED this 1st day of December 2025.
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