HomeMy WebLinkAboutJeffrey P. Weber and Denise K. Weber - Development Agreement - 1.20.2026Preparer: Tim Andera, City of Waterloo, 715 Mulberry Street, Waterloo Iowa 50703 (319) 291-4366
After recording, retum to Community Planning & Development, City of Waterloo, 715 Mulberry Street, Waterloo, IA
50703.
DEVELOPMENT AGREEMENT
This Development Agreement (the "Agreement") is entered into as of
_..10kNo , 2026 by and between Jeffrey P. Weber and Denise K. Weber
("Develope ), and the City of Waterloo, Iowa ("City").
RECITALS
A. Developer is willing and able to finance and construct a single-family
dwelling and related improvements on property located in the City of
Waterloo as an infill lot in an established residential neighborhood, as
described on Exhibit "A" attached hereto (the "Property").
B. City considers infill residential development within the City a benefit to the
community and is willing for the overall good and welfare of the community
to provide financial incentives to encourage that goal. City believes that
such development is in the vital and best interests of the City and in
accordance with the public purposes and provisions of the applicable
State and local laws and requirements under which the Project (defined
below) is being undertaken and is being assisted.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. Property Preparation. Developer is the owner of certain property legally
described in Exhibit "A" (the "Property"). Developer shall, at its own expense, demolish
any existing structures, remove trees on the Property that will interfere with the
improvements (defined below) or construction of same, remove and properly dispose of
debris, and otherwise prepare site for construction.
2. Improvements by Developer. Developer shall construct at its own
expense on the Property one (1) single-family home as further described and depicted
in Exhibit "B" attached hereto, consisting of approximately 1,400 square feet and an
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attached garage of approximately 550 square feet, having an estimated value of
$285,000.00 upon completion. The Improvements shall be completed to a finished
state, including installation of paved driveway, removal of all construction debris, proper
leveling or shaping of groundscape and grassing and/or landscaping (construction and
finishing as so described are referred to as the "Improvements"). The Improvements
shall be constructed in accordance with the terms of this Agreement, all applicable City,
state, and federal building codes and shall comply with all applicable City ordinances
and other applicable law. Developer shall submit specific building designs and site
plans for City review and approval before the commencement of construction and shall
not substantially deviate from such plans, specifications or designs. Developer will use
its best efforts to obtain, or cause to be obtained, in a timely manner, all required
permits, licenses and approvals, and will meet, in a timely manner, all requirements of
all applicable local, state, and federal laws and regulations which must be obtained or
met before the Improvements may be lawfully constructed. The Property, the
Improvements, and all site preparation and development -related work to be undertaken
and completed by Developer under this Agreement are collectively referred to as the
"Project".
3. Development Property and Improvements. Developer owns the
Property and has undertaken the Project (defined below) thereon. Developer has
begun construction upon the Property of 1,434 square foot single-family dwelling and
572 square foot attached garage, as well as paving (collectively, the
"Improvements"). Developer represents and warrants that the Improvements have been
constructed in accordance with the terms of this Agreement, and all applicable City,
state, and federal building codes, ordinances and other applicable law. The Property,
the Improvements, and all site preparation and development -related work to make any
of the Property usable for Developer's purposes as contemplated by this Agreement are
collectively referred to as the "Project."
4. Indemnity. Developer further agrees that it shall indemnify City and hold
it harmless with respect to any demand, claim, cause of action, damage, cost, expense,
liability or injury made, suffered, or incurred as a result of or in connection with the
Project, or Developer's failure to carry on or complete same, or any Lien or Liens on or
against the Property of any type or nature whatsoever that attach to the Property by
virtue of Developer's ownership of same. If City files suit to enforce the terms of this
Agreement and prevails in such suit, then Developer shall be liable for all legal
expenses, including but not limited to reasonable attorneys' fees, incurred by City.
Developer's duties of indemnity pursuant to this Section shall survive the expiration,
termination or cancellation of this Agreement for any reason.
5. Utilities. Developer will be responsible for extending water, sewer,
telephone, telecommunications, electricity, gas and other utility services from street right
of way to any location on the Property and for payment of any associated connection
fees.
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6. Incentives. To aid in the Project, City will provide the following
incentives:
A. Infill Housing Grant. As provided in the City's infill housing policy,
City will pay Developer a grant of $5,000.00 (the "Infill Grant") within ninety (90)
days after Improvements have been verified by City as Substantially Completed.
B. Partial Tax Exemption. Because the Property is located in a
designated City Limits Urban Revitalization Area (CLURA), the Property is
eligible for tax exemption consistent with and to the extent provided for in Iowa
law and City ordinance, provided Developer or its successor in title meets all
requirements to qualify for such exemption.
7. Additional Covenants of Developer. In addition to the other promises,
covenants and agreements of Developer as provided elsewhere in this Agreement,
Developer agrees as follows:
A. Until the Improvements have been Substantially Completed,
Developer shall make such reports to City, in such detail and at such times as
may be reasonably requested by City, as to the actual progress of Developer
with respect to construction of the Improvements.
B. Developer will comply with all applicable land development laws
and City and county ordinances, and all laws, rules and regulations relating to its
businesses, other than laws, rules and regulations where the failure to comply
with the same, or where the sanctions and penalties resulting therefrom, would
not have a material adverse effect on the business, property, operations, or
condition, financial or otherwise, of Developer.
C. Developer will cooperate fully with the City in resolution of any
traffic, parking, trash removal or public safety problems which may arise in
connection with the construction and operation of the Improvements.
8. No Encumbrances; Limited Exception. Until completion of the
Improvements, Developer agrees that it shall not create, incur, or suffer to exist any
Liens on the Property, other than such mortgage or mortgages as may be reasonably
necessary to finance Developer's completion of the Improvements and of which
Developer notifies City before Developer executes any such mortgage. Developer may
not mortgage the Property or any part thereof for any purpose except in connection with
financing of the Improvements.
9. No Assignment or Conveyance. Developer agrees that it will not sell,
convey, assign or otherwise transfer its interest in the Property prior to completion of the
Project thereon, whether in whole or in part, to any other person or entity without the
prior written consent of City. Reasonable grounds for the City to withhold its consent
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shall include but are not limited to the inability of the proposed transferee to
demonstrate to the City's satisfaction that it has the financial ability to observe all of the
terms to be performed by Developer under this Agreement.
10. Representations and Warranties of City. City hereby represents and
warrants as follows:
A. City is not prohibited from consummating the transaction
contemplated in this Agreement by any law, regulation, agreement, instrument,
restriction, order or judgment.
B. Each person who executes and delivers this Agreement and all
documents to be delivered hereunder is and shall be authorized to do so on
behalf of City.
11. Representations and Warranties of Developer. Developer hereby
represents and warrants as follows:
A. It is under no legal disability, is not the subject of a current or
pending action in any court of law to have guardian or conservator appointed with
respect to its person or affairs, has all requisite power and authority to own and
operate its properties, to carry on its business as now conducted and as
presently proposed to be conducted, and to enter into and perform its obligations
under this Agreement.
B. This Agreement has been duly and validly authorized, executed
and delivered by Developer and, assuming due authorization, execution and
delivery by the other parties hereto, is in full force and effect and is a valid and
legally binding instrument of Developer that is enforceable in accordance with its
terms, except as the same may be limited by bankruptcy, insolvency,
reorganization or other laws relating to or affecting creditors' rights generally.
C. The execution and delivery of this Agreement, the consummation of
the transactions contemplated hereby, and the fulfillment of or compliance with
the terms and conditions of this Agreement are not prevented by, limited by, in
conflict with, or result in a violation or breach of, the terms, conditions or
provisions of the articles of organization or operating agreement of Developer or
of any contractual restriction, evidence of indebtedness, agreement or instrument
of whatever nature to which Developer is now a party or by which it or its
property is bound, nor do they constitute a default under any of the foregoing.
D. There are no actions, suits or proceedings pending or threatened
against or affecting Developer in any court or before any arbitrator or before or by
any governmental body in which there is a reasonable possibility of an adverse
decision which could materially adversely affect the business (present or
prospective), financial position, or results of operations of Developer or which in
any manner raises any questions affecting the validity of the Agreement or
Developer's ability to perform its obligations under this Agreement.
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12. Indemnification and Releases.
A. Developer hereby releases City, its elected officials, officers,
employees, and agents (collectively, the "indemnified parties") from, covenants
and agrees that the indemnified parties shall not be liable for, and agrees to
indemnify, defend and hold harmless the indemnified parties against, any Toss or
damage to property or any injury to or death of any person occurring at or about
the Property or resulting from any defect in the Improvements. The indemnified
parties shall not be liable for any damage or injury to the persons or property of
Developer or its employees, contractors or agents, or any other person who may
be about any of the Property or the Improvements, due to any act of negligence
or willful misconduct of any person, other than any act of negligence or willful
misconduct on the part of any such indemnified party or its officers, employees or
agents.
B. Except for any willful misrepresentation, any willful misconduct, or
any unlawful act of the indemnified parties, Developer agrees to protect and
defend the indemnified parties, now or forever, and further agrees to hold the
indemnified parties harmless, from any claim, demand, suit, action or other
proceedings or any type or nature whatsoever, by any person or entity
whatsoever that arises or purportedly arises from (1) any violation of any
agreement or condition of this Agreement (except with respect to any suit, action,
demand or other proceeding brought by Developer against the City to enforce its
rights under this Agreement), or (2) the construction, installation, ownership, and
operation of the Improvements, or (3) otherwise as a result of or in connection
with the Project or Developer's failure to carry on or complete same.
C. The indemnification obligations under this Section shall include
attorneys' fees and expenses incurred by any indemnified party. The provisions
of this Section shall survive the expiration or termination of this Agreement.
13. Default. The following shall be "Events of Default" under this Agreement,
and the term "Event of Default" shall mean any one or more of the following events that
continues beyond any applicable cure periods:
A. Failure by Developer to cause the construction of the
Improvements on the Property to be commenced and completed pursuant to the
terms, conditions and limitations of this Agreement;
B. Transfer by Developer of any interest (either directly or indirectly) in
the Improvements or this Agreement, without the prior written consent of City;
C. Failure by any party hereto to substantially observe or perform any
covenant, condition, obligation or agreement on its part to be observed or
performed under this Agreement;
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D. Developer (1) files any petition in bankruptcy or for any
reorganization, arrangement, composition, readjustment, liquidation, dissolution,
or similar relief under the federal bankruptcy law or any similar state law; (2)
makes an assignment for the benefit of its creditors; (3) admits in writing its
inability to pay its debts generally as they become due; (4) is adjudicated a
bankrupt or insolvent; or if a petition or answer proposing the adjudication of
Developer as a bankrupt or its reorganization under any present or future federal
bankruptcy act or any similar federal or state law shall be filed in any court and
such petition or answer shall not be discharged or denied within ninety (90) days
after the filing thereof; or a receiver, trustee or liquidator of Developer, or part
thereof, shall be appointed in any proceedings brought against Developer shall
not be discharged within ninety (90) days after such appointment, or if Developer
shall consent to or acquiesce in such appointment; or (5) defaults under any
mortgage applicable to the Property.
E. Any representation or warranty made by Developer in this
Agreement or made by Developer in any written statement or certificate furnished
by Developer pursuant to this Agreement, shall prove to have been incorrect,
incomplete or misleading in any material respect on or as of the date of the
issuance or making thereof.
14. Remedies.
A. Default by Developer. Whenever any Event of Default in respect of
Developer occurs and is continuing, the City may terminate this Agreement, in
whole or in part. Before exercising such remedy, City shall give 30 days' written
notice to Developer of the Event of Default, provided that by the conclusion of
such period the Event of Default shall not have been cured, or the Event of
Default cannot reasonably be cured within 30 days and Developer shall not have
provided assurances reasonably satisfactory to the City that the Event of Default
will be cured as soon as reasonably possible. Upon termination, City may
exercise any and all remedies available at law, equity, contract or otherwise for
recovery of any sums paid by City to Developer before the date of termination.
B. Default by City. Whenever any Event of Default in respect of
Developer occurs and is continuing, Developer may take such action against City
to require it to specifically perform its obligations hereunder. Before exercising
such remedy, Developer shall give 30 days' written notice to City of the Event of
Default, provided that by the conclusion of such period the Event of Default shall
not have been cured, or if the Event of Default cannot reasonably be cured within
30 days and City shall not have provided assurances reasonably satisfactory to
the Developer that the Event of Default will be cured as soon as reasonably
possible.
C. Remedies under this Agreement shall be cumulative and in addition
to any other right or remedy given under this Agreement or existing at law or in
equity or by statute. Waiver as to any particular default, or delay or omission in
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exercising any right or power accruing upon any default, shall not be construed
as a waiver of any other or any subsequent default and shall not impair any such
right or power.
15. Materiality of Developer's Promises, Covenants, Representations,
and Warranties. Each and every promise, covenant, representation, and warranty set
forth in this Agreement on the part of Developer to be performed is a material term of
this Agreement, and each and every such promise, covenant, representation, and
warranty constitutes a material inducement for City to enter this Agreement. Developer
acknowledges that without such promises, covenants, representations, and warranties,
City would not have entered this Agreement. Upon breach of any promise or covenant,
or in the event of the incorrectness or falsity of any representation or warranty, City
may, at its sole option and in addition to any other right or remedy available to it,
terminate this Agreement and declare it null and void.
16. Performance by City. Developer acknowledges and agrees that all of
the obligations of City under this Agreement shall be subject to, and performed by City
in accordance with, all applicable statutory, common law or constitutional provisions and
procedures consistent with City's lawful authority. All covenants, stipulations, promises,
agreements and obligations of City contained in this Agreement shall be deemed to be
the covenants, stipulations, promises, agreements and obligations of City and not of any
governing body member, officer, employee or agent of City in the individual capacity of
such person.
17. No Third -Party Beneficiaries. No rights or privileges of any party hereto
shall inure to the benefit of any contractor, subcontractor, material supplier, or any other
person or entity, and no such contractor, subcontractor, material supplier, or other
person or entity shall be deemed to be a third -party beneficiary of any of the provisions
of this Agreement.
18. Notices. Any notice under this Agreement shall be in writing and shall be
delivered in person, by overnight air courier service, by United States registered or
certified mail, postage prepaid, or by facsimile (with an additional copy delivered by one
of the foregoing means), and addressed:
(a) if to City, at 715 Mulberry Street, Waterloo, Iowa 50703, fax number
319-291-4571, Attention: Mayor, with copies to the City Attorney and the
Community Planning and Development Director.
(b) if to Developer, at 610 Burbank Avenue, Waterloo, Iowa 50701,
Attention: Owner
Delivery of notice shall be deemed to occur (i) on the date of delivery when delivered in
person, (ii) one (1) business day following deposit for overnight delivery to an overnight
air courier service which guarantees next day delivery, (iii) three (3) business days
following the date of deposit if mailed by United States registered or certified mail,
postage prepaid, or (iv) when transmitted by facsimile so long as the sender obtains
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written electronic confirmation from the sending facsimile machine that such
transmission was successful. A party may change the address for giving notice by any
method set forth in this Section.
19. No Joint Venture. Nothing in this Agreement shall, or shall be deemed or
construed to, create or constitute any joint venture, partnership, agency, employment, or
any other relationship between the City and Developer nor to create any liability for one
party with respect to the liabilities or obligations of the other party or any other person.
20. Amendment, Modification, and Waiver. No amendment, modification,
or waiver of any condition, provision, or term of this Agreement shall be valid or of any
effect unless made in writing, signed by the party or parties to be bound or by the duly
authorized representative of same, and specifying with particularity the extent and
nature of the amendment, modification, or waiver. Any waiver by any party of any
default by another party shall not affect or impair any rights arising from any subsequent
default.
21. Severability; Reformation. Each provision, section, sentence, clause,
phrase, and word of this Agreement is intended to be severable. If any portion of this
Agreement shall be deemed invalid or unenforceable, whether in whole or in part, the
offending provision or part thereof shall be deemed severed from this Agreement and
the remaining provisions of this Agreement shall not be affected thereby and shall
continue in full force and effect. If a court finds that any portion of this Agreement is
invalid or unenforceable as written, but that by limiting such provision or portion thereof
it would become valid and enforceable, then such provision or portion thereof shall be
deemed to be written, and shall be construed and enforced, as so limited.
22. Captions. All captions, headings, or titles in the paragraphs or sections of
this Agreement are inserted only as a matter of convenience and/or reference, and they
shall in no way be construed as limiting, extending, or describing either the scope or
intent of this Agreement or of any provisions hereof.
23. Binding Effect. This Agreement shall be binding and shall inure to the
benefit of the parties and their respective successors, assigns, and legal
representatives.
24. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original and all of which, taken
together, shall constitute one and the same instrument.
25. Entire Agreement. This Agreement, together with the exhibits attached
hereto, if any, constitutes the entire agreement of the parties and supersedes all prior or
contemporaneous negotiations, discussions, understandings, or agreements, whether
oral or written, with respect to the subject matter hereof.
26. Time of Essence. Time is of the essence of this Agreement.
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IN WITNESS WHEREOF, the parties have executed this Development
Agreement by their duly authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA
B y
David Boesen, Mayor
Attest:
elley Felchl City Clerk
By;
By:
P. Weber, Developer
(
enise . TY: ier, D: veloper
PERSONAL GUARANTY. The undersigned members and/or managers of
Developer hereby agree for themselves and their heirs, personal representatives, and
assigns, to unconditionally guarantee to City, its successors and assigns, the full and
prompt performance by Developer, its successors and assigns, of all promises and
covenants on the part of Developer to be performed pursuant to the foregoing
Agreement, including but not limited to the duties of indemnity set forth therein, if any.
Liability of guarantors hereunder is joint and several.
DEE PAULSEN
o: Commission Number 790190
My Commission Expires
owp May 28, 2027
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EXHIBIT "A"
Description of Property
Crestview Subdivision, Lot 70, Waterloo, Black Hawk County, Iowa
See attached.
EXHIBIT "B"
House Plans
1
DECIDUOS TREE
EXISTING HOUSE FOOTPRINT
BURBANK AVE
67.08'
CURB STOP
20' FRONT{
SETBACK • i
20.00'
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11.5'
11.5' --X
BREWER CIVIL, LLC
12643 W AVE.
CEDAR FALLS, IA 50613
PHONE: (319) 575-2725
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LOT 70
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LOT 70
CRESTVIEW SUBDIVISION
WATERLOO, IA
610 BURBANK AVE.
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