HomeMy WebLinkAbout2013-414-05/20/2013Prepared by Carol Failor, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-414
RESOLUTION APPROVING FIRST AMENDMENT TO
DEVELOPMENT AGREEMENT WITH TOURNIER
MANUFACTURING, INC. OF WATERLOO, IOWA AND
DIRECTING EXECUTION OF SAID AMENDMENT BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the First Amendment to Development Agreement dated May 20,
2013, to reduce the Minimum Assessment Agreement from
$1,000,000.00 to $400,000.00, and reduce the standard 5 years at
50 percent tax rebates to 1 year at 58 percent tax rebates for
the building at 2710 Wagner Road, by and between Tournier
Manufacturing, Inc. of Waterloo, Iowa and the City of Waterloo,
Iowa, be and the same is hereby approved, and the Mayor and City
Clerk authorized to execute the same in behalf of the City of
Waterloo, Iowa.
PASSED AND ADOPTED this 20th day of May, 2013.
Ernest G. Clark, Mayor
ATTEST:
Suzy Sch res, CMC
City Cle k