HomeMy WebLinkAbout2026-099-03.02.2026.docDocusign Envelope ID: 64337050-5C29-4744-A60B-7C4FE414B39A
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-099
RESOLUTION IN SUPPORT OF AN APPLICATION BY THE
BATTERY BUILDING, LLC, FOR THE IOWA HISTORIC TAX
CREDIT PROGRAM APPLICATION TO THE IOWA ECONOMIC
DEVELOPMENT AUTHORITY, TO CONSTRUCT UP TO
NINETEEN NEW MARKET -RATE APARTMENTS AND MAIN
FLOOR CAFE AND CO -WORKING SPACE, LOCATED AT 217-219
W. 5TH STREET, INCLUDING A GRANT OF $600,000.00, AND
TAX REBATES OF FIFTEEN YEARS AT SEVENTY PERCENT AS
APPROVED BY CITY COUNCIL BY RESOLUTION NO. 2025-717,
ON DECEMBER 15, 2025.
WHEREAS, The Battery Building, LLC proposes to construct up to nineteen new
market -rate apartment units at 217-219 W. 5th Street, Waterloo, Iowa; and
WHEREAS, the Developer intends to submit an application to the Iowa Economic
Development Authority under the Iowa Historic Tax Credit Program in support of the Project;
and
WHEREAS, the City of Waterloo, Iowa finds that the Project is consistent with the City's
housing and community development goals, including encouraging investment in housing
options and redevelopment in the community; and
WHEREAS, the City Council previously approved local financial assistance for the
Project by Resolution No. 2025-717, adopted December 15, 2025, including: a city grant in the
amount of $600,000.00 and City rebates equal to seventy percent for a term of fifteen years.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The City Council hereby expresses its support for the Developer's application to the
Iowa Economic Development Authority under the Iowa Historic Tax Credit Program for the
Project to construct up to nineteen new market -rate apartments at 217-219 W. 5th Street,
Waterloo, Iowa.
2. The City Council acknowledges that Local Assistance for the Project was previously
approved by Resolution No. 2025-717, adopted December 15, 2025, including a $600,000.00
grant and rebates equal to seventy percent for fifteen years.
PASSED AND ADOPTED this 2nd day of March 2026.
,-Signed by:
PavA- , bbt,suA.
ATTEST:
1.—Signed by:
KeleyFeld&
Ke ley relcnlle,Lityulerk
SEAL
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David Boesen34Mayor