HomeMy WebLinkAbout2025-719-12.15.2025.docDocusign Envelope ID: E34EFEFE-BC09-410C-B60C-8BE932E5F543
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-719
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH WAHAWK
POWER, LLC, FOR THE CONSTRUCTION OF A NEW 80,000
SQUARE -FOOT DATA CENTER, WITH AN ACCESSORY
WATER TREATMENT AREA AND SUBSTATION, WITH A
MINIMUM ASSESSED VALUE OF $6,000,000.00 AND TAX
REBATES OF TEN YEARS AT FIFTY PERCENT AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, has determined that the development of an
80,000 square -foot data center is in the best interest of the community, fostering economic
growth and providing new opportunities; and
WHEREAS, Wahawk Power, LLC, has proposed the construction of said data center,
including an accessory water treatment area and substation, at a minimum assessed value of Six
Million Dollars ($6,000,000.00); and
WHEREAS, the City has negotiated a Development and Minimum Assessment
Agreement with Wahawk Power, LLC, which includes tax rebates for a period of ten (10) years
at fifty percent (50%) to incentivize this development; and
WHEREAS, said Agreement has been reviewed and found to be in compliance with all
relevant city codes and state regulations.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development and Minimum Assessment Agreement with Wahawk Power, LLC,
for the construction of a new data center, as described, 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 15th day of December 2025.
ATTEST:
Signed by:
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Kel ey Fe ch e, City Clerk
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Quentin Hart, Mayor