HomeMy WebLinkAbout2026-143-03.16.2026.doc (RECORDED) Docusign Envelope ID: 08EA18E9-FDOB-436B-8438-04370991 F96F
2026-04863
RECORDED: 04/09/2026 12:45:43 PM
RECORDING FEE: $7.00
REVENUE TAX: $
COMBINED FEE: $7.00
SANDIE L. SMITH, RECORDER
BLACK HAWK COUNTY, IOWA
( � CUB
Pre at d by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulbe
rry Street,
Waterloo, IA 50703, (319) 291 -4323.
RESOLUTION NO. 2026-143
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH C&S PROPERTIES, LC WITH A
MINIMUM ASSESSMENT AGREEMENT OF $500,000.00,
INCLUDING THE CURA TAX ABATEMENT FOR THE
CONSTRUCTION OF A NEW 4,800 SQUARE-FOOT
COMMERCIAL BUILDING LOCATED SOUTHWEST OF 814
SOUTH STREET, AND AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo supports new commercial development and
reinvestment that strengthens the local tax base and promotes economic vitality; and
WHEREAS, C&S Properties, LC proposes constructing a new approximately 4,800
square-foot commercial building located at 814 South Street; and
WHEREAS, the City and the Developer desire to enter into a Development and
Minimum Assessment Agreement establishing the terms and conditions for the Project, and
establishing a minimum assessed value of $500,000.00; and
WHEREAS, the Agreement further provides for a CURA tax abatement subject to
compliance with the terms and conditions set forth in the Agreement; and
WHEREAS, it is in the best interests of the City to approve the Agreement and authorize
execution thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1 . The City Council hereby approves a Development Agreement with C&S Properties,
LC for the construction of a new approximately 4,800 square-foot commercial building located
at 814 South Street, including a Minimum Assessment Agreement establishing a minimum
assessed value of $500,000.00 and the CURA tax abatement, in substantially the form presented
to the City Council.
2. The Mayor and City Clerk are authorized and directed to execute said document on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 16th day of March 2026.
,—Signed by:
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ATTEST: _
( —Signed by:
Davidioesen, Mayor
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kVeretAft,tity Clerk
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Docusign Envelope ID: 08EA18E9-FDOB-436B-8438-04370991F96F
ATTEST:
1-Signed by:
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Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-143
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH C&S PROPERTIES, LC WITH A
MINIMUM ASSESSMENT AGREEMENT OF $500,000.00,
INCLUDING THE CURA TAX ABATEMENT FOR THE
CONSTRUCTION OF A NEW 4,800 SQUARE -FOOT
COMMERCIAL BUILDING LOCATED SOUTHWEST OF 814
SOUTH STREET, AND AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo supports new commercial development and
reinvestment that strengthens the local tax base and promotes economic vitality; and
WHEREAS, C&S Properties, LC proposes constructing a new approximately 4,800
square -foot commercial building located at 814 South Street; and
WHEREAS, the City and the Developer desire to enter into a Development and
Minimum Assessment Agreement establishing the terms and conditions for the Project, and
establishing a minimum assessed value of $500,000.00; and
WHEREAS, the Agreement further provides for a CURA tax abatement subject to
compliance with the terms and conditions set forth in the Agreement; and
WHEREAS, it is in the best interests of the City to approve the Agreement and authorize
execution thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The City Council hereby approves a Development Agreement with C&S Properties,
LC for the construction of a new approximately 4,800 square -foot commercial building located
at 814 South Street, including a Minimum Assessment Agreement establishing a minimum
assessed value of $500,000.00 and the CURA tax abatement, in substantially the form presented
to the City Council.
2. The Mayor and City Clerk are authorized and directed to execute said document on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 16th day of March 2026.
,-Signed by:
Pa .td, bOGSWt,
Dav cl oesen 2Mayor