HomeMy WebLinkAbout2026-278-05.18.2026.doc (RECORDED) Docusign Envelope ID:4E141 DC0-92E1-8004-81 E8-088ECDB35EBC
2026-08545
RECORDED:06/09/2026 03:33:11 PM
RECORDING FEE:$12.00
REVENUE TAX:$
COMBINED FEE:$12.00
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. 2026-278
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT AND MINIMUM ASSESSMENT AGREEMENT
WITH E&A PROPERTIES, LLC, IN THE AMOUNT OF
$475,510.00, INCLUDING A $43,000.00 ACQUISITION
REIMBURSEMENT PAYMENT, AND CURA TAX
ABATEMENT, FOR THE CONSTRUCTION OF A NEW 10,000
SQUARE FOOT COMMERCIAL BUILDING LOCATED WEST
OF 1825 JEFFERSON STREET, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
WHEREAS the City of Waterloo, Iowa, has determined that encouraging commercial
development and redevelopment within designated areas of the City serves a public purpose and
promotes economic growth; and
WHEREAS, E&A Properties, LLC, has proposed construction of a new 10,000 square
foot commercial building on property located west of 1825 Jefferson Street, Waterloo, Iowa; and
WHEREAS, in connection with said project, a Development Agreement and Minimum
Assessment Agreement has been prepared with E&A Properties, LLC, in the amount of
$475,510.00, including a $43,000.00 acquisition reimbursement payment and CURA tax
abatement; and
WHEREAS, the City Council finds that approval of said Development Agreement and
Minimum Assessment Agreement is in the best interests of the City and will encourage the
proposed development.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement and Minimum Assessment Agreement with E&A
Properties, LLC, in the amount of $475,510.00, including a $43,000.00 acquisition
reimbursement payment and CURA tax abatement, for the construction of a new 10,000 square
foot commercial building located west of 1825 Jefferson Street, Waterloo, Iowa, is hereby
approved.
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 18`" day of May 2026.
LSigned by:
P.Mita boom,
Davaye a idauea2in.
a oese , Mayor
'Docusign Envelope ID:4E141DC0-92E1-8004-81E8-088ECDB35EBC
Resolution 2026-278
Page 2
ATTEST:
"—Signed by:
Ulu, FLU.It
*•-•— CORr Co4h8...
Kelley Feichle, City Clerk
SEAL
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Docusign Envelope ID: 4E141 DC0-92E1-8004-81 E8-088ECDB35EBC
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-278
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT AND MINIMUM ASSESSMENT AGREEMENT
WITH E&A PROPERTIES, LLC, IN THE AMOUNT OF
$475,510.00, INCLUDING A $43,000.00 ACQUISITION
REIMBURSEMENT PAYMENT, AND CURA TAX
ABATEMENT, FOR THE CONSTRUCTION OF A NEW 10,000
SQUARE FOOT COMMERCIAL BUILDING LOCATED WEST
OF 1825 JEFFERSON STREET, AND AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE SAID
DOCUMENT.
WHEREAS the City of Waterloo, Iowa, has determined that encouraging commercial
development and redevelopment within designated areas of the City serves a public purpose and
promotes economic growth; and
WHEREAS, E&A Properties, LLC, has proposed construction of a new 10,000 square
foot commercial building on property located west of 1825 Jefferson Street, Waterloo, Iowa; and
WHEREAS, in connection with said project, a Development Agreement and Minimum
Assessment Agreement has been prepared with E&A Properties, LLC, in the amount of
$475,510.00, including a $43,000.00 acquisition reimbursement payment and CURA tax
abatement; and
WHEREAS, the City Council finds that approval of said Development Agreement and
Minimum Assessment Agreement is in the best interests of the City and will encourage the
proposed development.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement and Minimum Assessment Agreement with E&A
Properties, LLC, in the amount of $475,510.00, including a $43,000.00 acquisition
reimbursement payment and CURA tax abatement, for the construction of a new 10,000 square
foot commercial building located west of 1825 Jefferson Street, Waterloo, Iowa, is hereby
approved.
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 18th day of May 2026.
Signed by:
ViAM 17ot sun,
�.S4J k1 b3U34L1...
Davin oesen, Mayor
Docusign Envelope ID: 4E141DC0-92E1-8004-81E8-088ECDB35EBC
Resolution 2026-278
Page 2
ATTEST:
a —Signed by:
f
*` F L,o' Aes...
Kelley y Felchle, City Clerk
SEAL