HomeMy WebLinkAbout2026-022-01.20.2026.doc (RECORDED) Docusign Envelope ID: 42EF59D5-C96A-4898-AECB-54020877F944 2026-01239
RECORDED: 01/28/2026 02:35:46 PM
RECORDING FEE: $7.00
REVENUE TAX: $
COMBINED FEE: $7.00
SANDIE L. SMITH, RECORDER
BLACK HAWK COUNTY, IOWA
4 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-022
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH ET
ENTERPRISES CORPORATION, FOR THE
REHABILITATION OF 1721 -1729 MULBERRY STREET INTO
NINETEEN RESIDENTIAL UNITS, A DAYCARE, AND
COMMUNITY SPACE, INCLUDING THE INFILL HOUSING
INCENTIVE OF $5,000.00 PER RESIDENTIAL UNIT FOR A
MAXIMUM OF $95,000.00, AND A MINIMUM ASSESSMENT
AGREEMENT OF $2,250,000.00, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENTS.
WHEREAS, ET Enterprises Corporation proposes to rehabilitate the property located at
1721-1729 Mulberry Street into nineteen residential units, a daycare, and community space; and
WHEREAS, the City of Waterloo, Iowa, aims to support this project through an Infill
Housing Incentive and a Minimum Assessment Agreement to facilitate urban development.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development and Minimum Assessment Agreement with ET Enterprises
Corporation is hereby approved for the rehabilitation project.
2. The City will provide an Infill Housing Incentive of $5,000.00 per residential unit,
totaling a maximum of$95,000.00.
3. A Minimum Assessment Agreement is established at $2,250,000.00 for the property.
4. 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 20th day of January 2026.
(—Signed by:
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David Boesen, Mayor
ATTEST:
(--Signed by:
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Docusign Envelope ID: 42EF59D5-C96A-4898-AECB-54020877F944
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-022
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH ET
ENTERPRISES CORPORATION, FOR THE
REHABILITATION OF 1721-1729 MULBERRY STREET INTO
NINETEEN RESIDENTIAL UNITS, A DAYCARE, AND
COMMUNITY SPACE, INCLUDING THE INFILL HOUSING
INCENTIVE OF $5,000.00 PER RESIDENTIAL UNIT FOR A
MAXIMUM OF $95,000.00, AND A MINIMUM ASSESSMENT
AGREEMENT OF $2,250,000.00, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENTS.
WHEREAS, ET Enterprises Corporation proposes to rehabilitate the property located at
1721-1729 Mulberry Street into nineteen residential units, a daycare, and community space; and
WHEREAS, the City of Waterloo, Iowa, aims to support this project through an Infill
Housing Incentive and a Minimum Assessment Agreement to facilitate urban development.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development and Minimum Assessment Agreement with ET Enterprises
Corporation is hereby approved for the rehabilitation project.
2. The City will provide an Infill Housing Incentive of $5,000.00 per residential unit,
totaling a maximum of $95,000.00.
3. A Minimum Assessment Agreement is established at $2,250,000.00 for the property.
4. 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 20th day of January 2026.
5Signed by:
/Aktj, 15OGSUA,
393E8397B3D3421...
David Boesen, Mayor
ATTEST:
Signed by:
Key F
o OF AB.
Kel1lFey7e AT A, City Clerk
SEAL