HomeMy WebLinkAbout2026-137-03.16.2026.doc (RECORDED) Docusign Envelope ID:DB4432A5-123C-8BD8-822F-DB1525EC249F 2026-04861
RECORDED:04/09/2026 12:45:41 PM
RECORDING FEE:$7.00
REVENUE TAX:$
COMBINED FEE:$7.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
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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. 2026-137
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AND MINIMUM ASSESSMENT
AGREEMENT WITH WBM, LLC, DATED DECEMBER 19,
2022, TO AMEND THE MINIMUM ASSESSED VALUE TO
$2,750,000.00, FOR THE COMPLETION OF THE PHASE II
IMPROVEMENTS LOCATED AT 2811, 2813, 2815, AND 2817
GERALDINE ROAD, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo and WBM, LLC previously entered into a
Development and Minimum Assessment Agreement dated December 19, relating to
improvements and redevelopment activities associated with the property located at 2811, 2813,
2815, and 2817 Geraldine Road; and
WHEREAS, WBM, LLC has requested an Amendment to the Agreement to revise the
minimum assessed value to $2,750,000.00 for the completion of the Phase II Improvements at
said property; and
WHEREAS, it is in the best interest of the city to approve said Amendment to ensure the
Agreement accurately reflects the agreed-upon minimum assessed value for the Phase II
Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The City Council hereby approves an Amendment to the Development and Minimum
Assessment Agreement with WBM, LLC, dated December 19, 2022, for the Property located at
2811, 2813, 2815, and 2817 Geraldine Road, amending the minimum assessed value to
$2,750,000.00 for completion of the Phase II Improvements.
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:
Pat t4. ?bt,S( JJ
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David'Boesen, Mayor
ATTEST:
,-----Signed by:
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Kelley Felchle, City Clerk
SEAL
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Docusign Envelope ID: DB4432A5-123C-8BD8-822F-DB1525EC249F
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-137
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AND MINIMUM ASSESSMENT
AGREEMENT WITH WBM, LLC, DATED DECEMBER 19,
2022, TO AMEND THE MINIMUM ASSESSED VALUE TO
$2,750,000.00, FOR THE COMPLETION OF THE PHASE II
IMPROVEMENTS LOCATED AT 2811, 2813, 2815, AND 2817
GERALDINE ROAD, AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo and WBM, LLC previously entered into a
Development and Minimum Assessment Agreement dated December 19, relating to
improvements and redevelopment activities associated with the property located at 2811, 2813,
2815, and 2817 Geraldine Road; and
WHEREAS, WBM, LLC has requested an Amendment to the Agreement to revise the
minimum assessed value to $2,750,000.00 for the completion of the Phase II Improvements at
said property; and
WHEREAS, it is in the best interest of the city to approve said Amendment to ensure the
Agreement accurately reflects the agreed -upon minimum assessed value for the Phase II
Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The City Council hereby approves an Amendment to the Development and Minimum
Assessment Agreement with WBM, LLC, dated December 19, 2022, for the Property located at
2811, 2813, 2815, and 2817 Geraldine Road, amending the minimum assessed value to
$2,750,000.00 for completion of the Phase II Improvements.
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 16t" day of March 2026.
EV:igned by:
4, bOt-SUA,
David oeen, Mayor
ATTEST:
rSigned by:
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Kelley Felchle, City Clerk
SEAL
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