HomeMy WebLinkAbout2025-688-12.01.2025.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. 2025-688
RESOLUTION SETTING DATE OF PUBLIC HEARING AS
DECEMBER 15, 2025, FOR THE SALE AND CONVEYANCE
OF APPROXIMATELY TWELVE ACRES OF CITY -OWNED
PROPERTY IN THE AMOUNT OF $1.00 TO WAHAWK
POWER, LLC, FOR THE CONSTRUCTION OF AN 80,000
SQUARE -FOOT DATA CENTER, WITH AN ACCESSORY
WATER TREATMENT AREA AND SUBSTATION, HAVING
A MINIMUM ASSESSED VALUE OF $6,000,000.00,
LOCATED NORTH OF 570 WEST SHAULIS ROAD,
INCLUDING A DEVELOPMENT AGREEMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH REBATE
SCHEDULE OF TEN -YEARS AT FIFTY -PERCENT, AND
INSTRUCT THE CITY CLERK TO PUBLISH NOTICE.
WHEREAS, the City of Waterloo, Iowa, proposes selling and conveying approximately
twelve acres of city -owned property to Wahawk Power, LLC, for $1.00; and
WHEREAS, Wahawk Power, LLC plans to construct an 80,000 square -foot data center,
including an accessory water treatment area and substation, with a minimum assessed value of
$6,000,000.00; and
WHEREAS, the sale includes a Development Agreement and Minimum Assessment
Agreement, featuring a rebate schedule of ten years at fifty percent; and
WHEREAS, a public hearing is required to facilitate community input and authorize this
transaction.
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 review and the sale and
conveyance of the property located north of 570 West Shaulis Road to Wahawk Power, 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.
DocuSigned by:
DO5. 5 AAC8 4 ...
Quentin art,Mayor
ATTEST:
Signed by:
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Ik i y re ctl Atity Clerk
SEAL