HomeMy WebLinkAbout2026-101-03.02.2026.doc (RECORDED) Docusign Envelope ID: 64337050-5C29-4744-A60B-7C4FE414B39A
2026-04210
RECORDED: 03/31/2026 02:03:41 PM
RECORDING FEE: $7.00
REVENUE TAX: $
COMBINED FEE: $7.00
SANDIE L. SMITH, RECORDER
BLACK HAWK COUNTY, IOWA
[6(tICAC)
Pre red byLeAnn. M. Even, Deputy CityClerk, Cityof Waterloo, 715 MulberryStreet,
P P Y
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-101
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT
WITH FIFTH STREET TIRE, LLC, WITH A MINIMUM
ASSESSMENT AGREEMENT OF $567,660.00, AND THE CURA
TAX ABATEMENT, FOR THE CONSTRUCTION OF A 2,808
SQUARE-FOOT ADDITION AT 500 W. 5TH STREET AND
AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
SAID DOCUMENT.
WHEREAS Fifth Street Tire, LLC proposes to construct a 2,808 square-foot addition at
500 W. 5th Street, Waterloo, Iowa; and
WHEREAS, the City of Waterloo desires to enter into a Development Agreement with
the Fifth Street Tire, LLC to set forth the terms and conditions applicable to the Project,
including a Minimum Assessment Agreement and a CURA tax abatement; and
WHEREAS, the City Council finds it to be in the best interests of the City to approve the
Development Agreement, including a Minimum Assessment Agreement in the amount
$567,660.00 and the CURA tax abatement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1 . The Development Agreement by and between the City and Fifth Street Tire, LLC, for
the construction of a 2,808 square-foot addition at 500 W. 5th Street, including a Minimum
Assessment Agreement in the amount of$567,660.00, and the CURA tax abatement, is hereby
approved.
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 March 2026.
Signed by:
VL OtSt
ATTEST: David Boesen, Mayor
.---Signed by:
KVA, f
Kelley reicnie,L6ty clerk
SEAL
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Docusign 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. 2026-101
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT
WITH FIFTH STREET TIRE, LLC, WITH A MINIMUM
ASSESSMENT AGREEMENT OF $567,660.00, AND THE CURA
TAX ABATEMENT, FOR THE CONSTRUCTION OF A 2,808
SQUARE -FOOT ADDITION AT 500 W. 5TH STREET AND
AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
SAID DOCUMENT.
WHEREAS Fifth Street Tire, LLC proposes to construct a 2,808 square -foot addition at
500 W. 5th Street, Waterloo, Iowa; and
WHEREAS, the City of Waterloo desires to enter into a Development Agreement with
the Fifth Street Tire, LLC to set forth the terms and conditions applicable to the Project,
including a Minimum Assessment Agreement and a CURA tax abatement; and
WHEREAS, the City Council finds it to be in the best interests of the City to approve the
Development Agreement, including a Minimum Assessment Agreement in the amount
$567,660.00 and the CURA tax abatement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement by and between the City and Fifth Street Tire, LLC, for
the construction of a 2,808 square -foot addition at 500 W. 5th Street, including a Minimum
Assessment Agreement in the amount of $567,660.00, and the CURA tax abatement, is hereby
approved.
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 March 2026.
ATTEST:
,,llSiigned by: AA
KtLLty FLU&
Ke ey e c l_e rty 1lerk
SEAL
Signed by:
Pavult bo ,suA,
Dayla3res n, Mayor