HomeMy WebLinkAbout2026-214-04.20.2026.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. 2026-214
RESOLUTION IN SUPPORT OF AN APPLICATION BY 205 E.
4TH STREET, LLC, FOR THE IOWA WORKFORCE
HOUSING TAX CREDIT PROGRAM APPLICATION TO THE
IOWA ECONOMIC DEVELOPMENT AUTHORITY, FOR UP
TO TWENTY-FIVE APARTMENT UNITS AT THE HISTORIC
BLACK'S BUILDING, LOCATED AT 205 E. 4TH STREET,
INCLUDING REIMBURSEMENT FUNDS OF $14,000,000.00.
WHEREAS, 205 E. 4th Street, LLC proposes to submit an application to the Iowa
Economic Development Authority for assistance under the Iowa Workforce Housing Tax Credit
Program for a project consisting of up to twenty-five apaitinent units at the Historic Black's
Building, located at 205 E. 4th Street, Waterloo, Iowa, and
WHEREAS, the City Council finds that the proposed housing project will promote
redevelopment, expand housing opportunities, and provide a public benefit to the City of
Waterloo, and
WHEREAS, as part of its support for the project, the City desires to support
reimbursement funds in an amount not to exceed $14,000,000.00, subject to applicable
approvals, available funding, and the terms of any agreement approved by the City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The City Council hereby expresses its support for the application of 205 E. 4th Street,
LLC to the Iowa Economic Development Authority for the Iowa Workforce Housing Tax Credit
Program for a project consisting of up to twenty-five apartment units at the Historic Black's
Building, located at 205 E. 4th Street, Waterloo, Iowa.
2. The City Council further supports reimbursement funds in an amount not to exceed
$14,000,000.00 for the project, subject to approval of the project application, compliance with all
applicable requirements, availability of funds, and the terms of any development agreement or
other agreement approved by the City Council.
PASSED AND ADOPTED this 20th day of April 2026.
Signed by:
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David Boesen, Mayor
ATTEST:
p—Signed by:
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l y rc ire,tity Clerk