HomeMy WebLinkAbout2026-149-03.16.2026.docDocusign Envelope ID: 2C9AD266-1 C3F-8EA0-8085-21151 F18AA06
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-149
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH A.C.O CONSTRUCTION, LC, FOR THE
CONSTRUCTION OF A NEW SINGLE-FAMILY HOME ON
AN INFILL LOT LOCATED AT 4467 CHARM DRIVE,
INCLUDING $5,000.00 INFILL HOUSING INCENTIVE UPON
SUBSTANTIAL COMPLETION, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
WHEREAS, the City of Waterloo supports infill housing development to strengthen
neighborhoods and promote reinvestment in existing residential areas; and
WHEREAS, A.C.O Construction, LC proposes the construction of a new single-family
home on an infill lot located at 4467 Charm Drive; and
WHEREAS, the City and A.C.O Construction, LC desire to enter into a Development
Agreement establishing the terms and conditions for the Project and the City's incentive; and
WHEREAS, the Agreement provides for an in -fill housing incentive in an amount not to
exceed $5,000.00, to be paid upon substantial completion of the Project and satisfaction of the
Agreement's conditions; and
WHEREAS, it is in the best interests of the City to approve the Development 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 A.C.O
Construction, LC for construction of a new single-family home on an infill lot located at 4467
Charm Drive, including an infill housing incentive in an amount not to exceed $5,000.00,
payable upon substantial completion and satisfaction of the Agreement's terms.
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.
ATTEST:
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Kelley Felchle, City Clerk
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Signed by:
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Davit Boesen, Mayor