HomeMy WebLinkAbout2026-037-02.02.2026.docDocusign Envelope ID: 5274EFEF-4D39-4E67-B678-585CC381AF5D
Prepared LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-037
RESOLUTION APPROVING THE FIRST AMENDMENT TO A
DEVELOPMENT AND MINIMIMUM ASSESSMENT
AGREEMENT DATED JULY 7, 2025, WITH BKKS
HOLDINGS, LLC, IN THE AMOUNT OF $1,995,000.00, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS the City of Waterloo, Iowa and BKKS Holdings, LLC entered into a
Development and Minimum Assessment Agreement dated July 7, 2025; and
WHEREAS, the City and the Developer desire to amend the Agreement to modify certain
terms and conditions; and
WHEREAS, the proposed First Amendment to the Development and Minimum
Assessment Agreement provides for a project amount / minimum assessment amount of
$1,995,000.00; and
WHEREAS, the City Council finds that approval of the First Amendment is in the best
interests of the City of Waterloo and is consistent with applicable Iowa law and the City's
economic development objectives.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The City Council hereby approves the First Amendment to the Development and
Minimum Assessment Agreement dated July 7, 2025, by and between the City of Waterloo and
BKKS Holdings, LLC, in the amount of $1,995,000.00.
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 2nd day of February 2026.
ATTEST:
Signed by:
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Kelley Felcille, City Clerk
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Signed by:
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Davi Boesen, Mayor