HomeMy WebLinkAbout2026-210-04.20.2026.docDocusign Envelope ID: 8099F107-1394-867A-830E-1C89FF55CC4E
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-210
A RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH DELLATAN
ASSET ACQUISITION, LLC, FOR A PHASED
DEVELOPMENT LOCATED NEAR 918 AND 919 NEWELL
STREET, INCLUDING A $5,000.00 INFILL INCENTIVE
GRANT FOR EACH RESIDENTIAL UNIT CREATED, FOR A
TOTAL OF UP TO $60,000.00 IN INFILL INCENTIVE
GRANTS, REFUNDING THE PURCHASE PRICE OF $5,000.00
FOR THE PURCHASE OF EACH PHASE, FOR A TOTAL
REFUND OF $10,000.00, FOR THE CONSTRUCTION OF NO
FEWER THAN TWELVE NEW SINGLE-FAMILY HOMES,
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, Dellatan Asset Acquisition, LLC, has proposed a phased residential
development located near 918 and 919 Newell Street, of no fewer than twelve (12) new single-
family homes, and
WHEREAS, the Development Agreement provides for a $5,000.00 infill incentive grant
for each residential unit created, for a total amount not to exceed $60,000.00, and
WHEREAS, the Development Agreement further provides for a refund of the purchase
price of $5,000.00 for the purchase of each phase, for a total refund of $10,000.00, and
WHEREAS, the Development Agreement also includes a Minimum Assessment
Agreement for the development, and
WHEREAS, the City Council finds it to be in the best interest of the City of Waterloo to
approve said Agreements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement with Dellatan Asset Acquisition, LLC, for a phased
development located near 918 and 919 Newell Street, including a $5,000.00 infill incentive grant
for each residential unit created, for a total of up to $60,000.00 in infill incentive grants,
refunding the purchase price of $5,000.00 for the purchase of each phase, for a total refund of
$10,000.00, and a Minimum Assessment Agreement for the construction of no fewer than twelve
(12) new single-family homes, 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 20th day of April 2026.
Signed by:
f jbt,SUA,
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Davi oes, Mayor
Docusign Envelope ID: 8099F107-1394-867A-830E-1C89FF55CC4E
Resolution No. 2026-210
Page 2
ATTEST:
--Signed by:
getiey Ftizat
Fou uF1 ' AB.
Kelfey`telc` ?e, City Clerk
CERTIFICATE
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution No. 2026-210 as passed and adopted by the
City Council of the City of Waterloo, Iowa, on the 20th day of April 2026.
SEAL
411
Witness my hand and seal of office on this 20th day of April 2026.
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"—Signed by:
K&&, f etellt
Kell ytelcnie BCity Clerk