HomeMy WebLinkAbout2025-693-12.01.2025.doc (RECORDED)Docusign 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. 2025-693
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH INTERNATIONAL
PAPER COMPANY, TO SELL 6.29 ACRES OF CITY -OWNED
PROPERTY, LOCATED DIRECTLY NORTH OF 3470 WEST
AIRLINE HIGHWAY, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo owns a parcel of land comprising 6.29 acres located
directly north of 3470 West Airline Highway; and
WHEREAS, International Paper Company has expressed interest in amending the
existing development agreement to incorporate the purchase of said city -owned property; and
WHEREAS, the proposed sale aligns with the City's economic development strategic
goals; and
WHEREAS, it is deemed in the best interest of the City of Waterloo to proceed with the
sale of this property to facilitate the amendment of the development agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The amendment to the Development Agreement with International Paper Company,
concerning the sale of a 6.29-acre parcel of city -owned property, is 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 1st day of December 2025.
ATTEST:
"—Signed by:
flicitt
F80BCOFF 64AB ,
Kelfey Felciile, City Clerk
SEAL
CDocuSigned by:
aLIAlitA. ROIL
D05?5D78AAC8449...
Quentin Hart, Mayor