HomeMy WebLinkAbout2013-693-8 /19/2013Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-693
RESOLUTION FIXING THE TIME AND PLACE OF
HEARING AND NOTICE TO BE GIVEN ON THE
PROPOSED DEVELOPMENT AGREEMENT WITH CROSSING
POINT LLC F/K/A PROACTIVE HOLDINGS IV LLC FOR
THE REDEVELOPMENT OF THE FORMER KMART PLAZA
SITE, INCLUDING THE MAIN BUILDING AND
CREATION OF MULTIPLE OUT -LOTS, ADDING $3.5
MILLION IN NEW TAXABLE VALUE TO THE SITE, AND
TAX REBATES FOR 10 YEARS AT 50 PERCENT, AS
SEPTEMBER 9, 2013, AT 5:30 P.M. IN CITY HALL
COUNCIL CHAMBERS, WATERLOO, IOWA AND
INSTRUCTING THE CITY CLERK TO PUBLISH THE
NOTICE OF HEARING.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
AS FOLLOWS:
Section 1. That the Council of the City of Waterloo, Iowa
shall meet at City Hall Council Chambers in the City of
Waterloo, Iowa at 5:30 p.m. on the 9th day of September, 2013,
for the purpose of considering and acting upon a proposed
Development Agreement with Crossing Point LLC f/k/a Proactive
Holdings IV LLC for the redevelopment of the former Kmart Plaza
site, including the main building and creation of multiple out -
lots, adding $3.5 million in new taxable value to the site, and
tax rebates for 10 years at 50 percent, and legally described as
follows:
Those parts of the Northeast Fractional Quarter of
Section 2, Township 88 North, Range 13 West of the 5th
P.M., in the City of Waterloo, Black Hawk County, Iowa,
described as follows:
Commencing at the Northwest corner of said
Northeast Fractional Quarter; thence East along the
North line of said Section, 319.3 feet; thence South
0°2'45" West 50 feet to the point of beginning; thence
South 89°54156" East, parallel with said North line,
705 feet to the Westerly line of former Primary Road
No. 402 as relocated by Warranty Deed recorded in 120
LD 33; thence Southwesterly along said Westerly line
1146.95 feet; thence Northwesterly along a curve
concave Southwesterly and having a radius of 998.575
feet and a long chord bearing North 62°54141" West
621.65 feet; thence North 0°2145" East 839.49 feet to
the point of beginning;
AND
Commencing at the Northwest corner of said
Northeast Fractional Quarter of Section 2; thence North
90° East 1023.7 feet; thence South 0005' West 458.6
feet; thence South 23°241-�' East 150 feet to the point
of beginning; thence South 23024' East 135.8 feet;
thence South 41024' East 233.1 feet; thence Southerly
54.6 feet along a 1296 foot radius curve concave
Westerly having a chord bearing South 12°58' West 54.6
feet; thence South 48036' West 304.10 feet; thence
North 41°24' West 169.40 feet; thence Northeasterly
248.30 feet along a 996 foot radius curve concave
Westerly having a chord bearing North 15058' East
247.66 feet to a point common to the circular curve and
a spiral curve concave Westerly, said curves being
Resolution 2013-693
Page 2
tangent at said common point; thence along the spiral a
chord distance of 162.52 feet, said chord bearing North
5004' East; thence North 66°351x' East 67.31 feet to the
point of beginning;
AND
Commencing at the Northwest corner of said
Northeast Fractional Quarter of Section 2; thence North
900 East along the North line of said Northeast
Fractional Quarter 1023.7 feet; thence South 0005' West
458.6 feet; thence South 23024' East 285.8 feet to the
point of beginning; thence South 41024' East 233.1
feet; thence Southerly 54.6 feet along a 1296 foot
radius curve concave Westerly having a chord bearing
South 12058' West 54.6 feet; thence North 48036' East
21 feet; thence Northerly 43.8 feet along a 1308 foot
radius curve concave Westerly having a chord bearing
North 12027120" East 43.8 feet; thence North 41°24'
West 239.3 feet; thence South 48036' West 12 feet to
the point of beginning;
AND
Commencing at the Northwest corner of said
Northeast Fractional Quarter of Section 2; thence North
900 East 1023.7 feet; thence South 0005' West 458.6
feet to the point of beginning; thence South 230241x'
East 150 feet; thence South 66035' West 67.31 feet to
a point on a spiral curve concave Westerly, which point
bears South 0°451-�' West a chord distance of 164.41 feet
from the point of beginning; thence Northeasterly along
the curve to the point of beginning;
AND
Commencing at the Northwest corner of said
Northeast Fractional Quarter of Section 2; thence North
90000' East 1023.7 feet along the North line of said
Northeast Fractional Quarter; thence South 0005' West
458.6 feet; thence South 23024'30" East 115.6 feet to
the point of beginning; thence continuing South
23024'30" East 170.0 feet; thence North 48036' East
12.00 feet; thence South 41024' East 239.3 feet; thence
North 0000' East 42.3 feet; thence North 41024' West
201.04 feet; thence North 23024130" West 163.77 feet;
thence South 66035130" West 40.00 feet to the point of
beginning.
Section 2. That the City Clerk is hereby directed to
publish notice of the time and place of said hearing in the
Waterloo Courier.
PASSED AND ADOPTED this 19th day of August, 2013.
/%t. l Mayor
ATTEST:
Suzy Sc ares, CMC
City Cl rk