HomeMy WebLinkAbout2026-349-07.06.2026.docDocusign Envelope ID: AF1A158D-DDOE-8E16-8256-5798860AE9CE
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-349
RESOLUTION APPROVING AN ASSIGNMENT OF REBATES
TO VGM GROUP FROM SAN MARNAN MANAGEMENT
LTD F/K/A VGM MANAGEMENT LTD, AND GALACTIC
DEVELOPMENT CORP. F/K/A VGM DEVELOPMENT CORP.
FOR PROPERTY LOCATED AT 1111 VAN MILLER WAY,
AND AUTHORIZING THE MAYOR TO EXECUTE SAID
DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, has previously entered into one or more
agreements relating to rebates for property located at 1111 Van Miller Way, Waterloo, Iowa; and
WHEREAS, San Marnan Management LTD, formerly known as VGM Management
LTD, and Galactic Development Corp., formerly known as VGM Development Corp., have
presented to the City an Assignment of Rebates assigning certain rebate rights to VGM Group;
and
WHEREAS, the City Council has reviewed the proposed Assignment of Rebates and
finds it appropriate to approve the assignment, subject to the terms contained therein; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Assignment of Rebates to VGM Group from San Marnan Management LTD,
formerly known as VGM Management LTD, and Galactic Development Corp., formerly known
as VGM Development Corp., for property located at 1111 Van Miller Way, Waterloo, Iowa, 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 6th day of July 2026.
Signed by:
504 tjbt,su,'J
ATTEST: David iioesen, Mayor
Signed by:
Kelley teiiciiie, 8ity Clerk
SEAL
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