HomeMy WebLinkAbout2026-301-06.01.2026.doc (RECORDED) Docusign Envelope ID:4E141DC0-92E1-8004-81E8-088ECDB35EBC
2026-08547
RECORDED:06/09/2026 03:33:13 PM
RECORDING FEE:$7.00
REVENUE TAX:$
COMBINED FEE:$7.00
SANDIE L.SMITH,RECORDER
BLACK HAWK COUNTY,IOWA
i. •
Prepared by teAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-301
RESOLUTION APPROVING A SECOND AMENDMENT AND
COLLATERAL ASSIGNMENT OF THE DEVELOPMENT
AGREEMENT WITH BKKS HOLDINGS, LLC AND
FARMERS STATE BANK, AND AUTHORIZING THE
MAYOR TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, previously entered into a Development
Agreement with BKKS Holdings, LLC on July 7,2025, and amended February 2, 2026; and
WHEREAS, the parties now desire to enter into a Second Amendment and Collateral
Assignment of Development Agreement with BKKS Holdings, LLC and Farmers State Bank, to
allow the Company to obtain credit from the Bank for financing the construction and erection of
structures and improvement on the Property for Phase 1 of the Project; and
WHEREAS, the City Council has reviewed the proposed Second Amendment and
Collateral Assignment of Development Agreement and finds that approval of said document is in
the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Second Amendment and Collateral Assignment of Development Agreement by
and among the City of Waterloo, Iowa, BKKS Holdings, LLC, and Farmers State Bank is hereby
approved.
2. The Mayor is authorized and directed to execute said document on behalf of the City
of Waterloo, Iowa.
PASSED AND ADOPTED this 1s`day of June 2026.
—Signed by:
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David'Boesen, Mayor
ATTEST:
—Signed by:
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Kelley Feichie, City Clerk
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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. 2026-301
RESOLUTION APPROVING A SECOND AMENDMENT AND
COLLATERAL ASSIGNMENT OF THE DEVELOPMENT
AGREEMENT WITH BKKS HOLDINGS, LLC AND
FARMERS STATE BANK, AND AUTHORIZING THE
MAYOR TO EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, previously entered into a Development
Agreement with BKKS Holdings, LLC on July 7, 2025, and amended February 2, 2026; and
WHEREAS, the parties now desire to enter into a Second Amendment and Collateral
Assignment of Development Agreement with BKKS Holdings, LLC and Farmers State Bank, to
allow the Company to obtain credit from the Bank for financing the construction and erection of
structures and improvement on the Property for Phase 1 of the Project; and
WHEREAS, the City Council has reviewed the proposed Second Amendment and
Collateral Assignment of Development Agreement and finds that approval of said document is in
the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Second Amendment and Collateral Assignment of Development Agreement by
and among the City of Waterloo, Iowa, BKKS Holdings, LLC, and Farmers State Bank is hereby
approved.
2. The Mayor is authorized and directed to execute said document on behalf of the City
of Waterloo, Iowa.
PASSED AND ADOPTED this 1st day of June 2026.
ATTEST:
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Signed by:
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Kel ey Fe ch e, City Clerk
SEAL
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tSigned by:
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393 B3U3421...
Davi oesen, Mayor