HomeMy WebLinkAbout2016-598-7/25/2016 Prepared by Kelley Felchle, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, 319-291-4323.
RESOLUTION NO. 2016-598
RESOLUTION APPROVING THE ECONOMIC DEVELOPMENT
ASSISTANCE CONTRACT BETWEEN THE IOWA ECONOMIC
DEVELOPMENT AUTHORITY, HYDRITE CHEMICAL CO. AND
THE CITY OF WATERLOO, AND AUTHORIZE THE MAYOR TO
SIGN AND FULLY EXECUTE THE DOCUMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Economic Development Assistance Contract dated July 25, 2016, between Iowa
Economic Development Authority, Hydrite Chemical Co. and the City of Waterloo, for State
incentives through tax credits, up to $634,535 by creating 11 new jobs paying an average
of$23.27 per hour through their $15.8 million dollar, 20,000 square foot expansion, is hereby
approved and the Mayor is authorized and directed to execute the same on behalf of the City of
Waterloo, Iowa.
PASSED AND ADOPTED this 25th day of July, 2016.
Quentin Hart, Mayor
ATTEST:
Suzy Schat s, MC
City Clerk