HomeMy WebLinkAbout2026-014-01.05.2026.docDocusign Envelope ID: COD9B10B-7A05-432A-A2D4-3EADF4AD28DC
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-014
RESOLUTION APPROVING A LONG-TERM GROUND
LEASE AGREEMENT WITH GRAND HUSK SOLAR OF
APPROXIMATELY 759 ACRES OF AIRPORT -OWNED
PROPERTY, IN THE AMOUNT OF $50.00 PER ACRE UPON
SIGNING, $50.00 PER ACRE PER YEAR THROUGH THE
DEVELOPMENT TERM, $350.00 PER ACRE PER YEAR
THROUGH THE CONSTRUCTION TERM, AND $1,400.00
PER ACRE PER YEAR THROUGH THE PRODUCTION
TERM, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID DOCUMENTS.
WHEREAS, the City of Waterloo, Iowa, owns approximately 759 acres of land adjacent
to the airport, which is suitable for renewable energy development; and
WHEREAS, Grand Husk Solar seeks to enter into a long-term lease agreement for the
purpose of developing, constructing, and operating a solar energy facility on this land, thereby
advancing sustainable energy initiatives; and
WHEREAS, the terms of the Ground Lease Agreement include compensation of $50.00
per acre upon signing, $50.00 per acre per year during the development term, $350.00 per acre
per year during the construction term, and $1,400.00 per acre per year through the production
term; and
WHEREAS, this agreement represents a beneficial economic opportunity for the City,
providing revenue and promoting sustainable energy initiatives.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. Ground Lease Agreement with Grand Husk Solar for approximately 759 acres of
airport -owned property is hereby approved.
2. 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 5 ' day of January 2026.
(—Signed by:
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Davicuitjoesen, Mayor
ATTEST:
Signed by:
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Kelfey Fe cjlille, ity Clerk
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