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Home My WebLink AboutBlack_Hawk_County_-_MOU_-_7.20.2026Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding ("MOU") is entered into as of July 20 , 2026, by and between the City of Waterloo, Iowa ("City") and Black Hawk County, Iowa ("County"). WHEREAS, the City and the County desire and intend to exchange certain real property in order to facilitate economic development, promote orderly growth, enhance public infrastructure and governmental operations, and advance the general welfare of the City and County; WHEREAS, the parties acknowledge and agree that each party is expected to undertake material actions and incur administrative, planning, legal, engineering, financial, and other costs in reliance upon the understandings and commitments set forth in this MOU. WHEREAS, the parties intend for this MOU to constitute a binding and enforceable agreement with respect to those matters set forth herein, notwithstanding the intent of the parties to prepare and execute one or more subsequent definitive agreements, and the parties agree to cooperate and negotiate said subsequent agreements in good faith and consistent with the material terms of this MOU. WHEREAS, notwithstanding the foregoing, the parties shall remain subject to those approvals, procedures, hearings, and actions required by applicable law. WHEREFORE, for and in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties acknowledge and agree to the following terms. 1. City Conveyances to County. A. The City is the owner of certain real estate which is located immediately to the south of 3900 Leversee Road, Waterloo, Iowa, and which is labeled and depicted in the attached Exhibit A as Parcel 1 (9.20 acres) and Parcel 2 (4.12 acres). The City shall convey to the County for the purchase price of $1.00 the real estate labeled Parcel 1 (9.20 acres) by special warranty deed, free and clear of all encumbrances arising by or through City except: (a) easements, servitudes, conditions and restrictions of record; (b) general utility and right-of-way easements; and (c) restrictions imposed by the City zoning ordinances and other applicable law. The City shall initially retain ownership of the real estate labeled as Parcel 2 (4.12 acres) and grants to the County a right of first refusal to purchase the same Parcel 2 according to the following terms: upon the County vacating the buildings and structures situated on the remaining portion of the real estate identified as Tax Parcel ID No. 8913-10-452-002, as described in Section 2(B) of this MOU, the City shall convey to the County by special warranty deed, for the purchase price of $1.00, the real estate labeled as Parcel 2 (4.12 acres). The City shall be responsible for surveying and platting, and full legal descriptions with respect to the relevant real estate will be included in a final agreement. Such surveys shall depict all easements including, but not limited to, utility, drainage, and other easements across the real estate labeled as Parcel 1 (9.20 acres) and Parcel 2 (4.12 acres). To the extent necessary for drainage or utilities, the City will grant to the County, at the time of Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 transfer to the County of the real estate labeled as Parcel 1, any easement necessary or reasonable for utility or drainage purposes, across the real estate labeled as Parcel 2. B. The City is the owner of certain real estate, utilized as a parking lot at or around the intersection of East 6th Street and Sycamore Street in Waterloo, identified as Tax Parcel ID No. 8913-25-131-010 and legally described in Exhibit B (the "East 6th Street Property"). The City shall convey the East 6th Street Property to the County for the purchase price of $1.00 by special warranty deed, free and clear of all encumbrances arising by or through City except: (a) easements, servitudes, conditions and restrictions of record; (b) general utility and right-of-way easements; and (c) restrictions imposed by the City zoning ordinances and other applicable law. The City shall provide to the County, upon conveyance, a completed Groundwater Hazard Statement for the East 6th Street Property, even if this property is exempt from the Groundwater Hazard Statement requirement. 2. County Conveyances. A. The County is the owner of certain real estate identified as Tax Parcel ID No. 8913- 24-380-003, legally described in Exhibit C. The County shall convey said real estate by special warranty deed to County for the purchase price of $1.00, free and clear of all encumbrances arising by or through County except: (a) easements, servitudes, conditions and restrictions of record; (b) general utility and right-of-way easements; and (c) restrictions imposed by the City zoning ordinances and other applicable law. The County shall provide to the City, upon conveyance, a completed Groundwater Hazard Statement for this property identified as Tax Parcel ID No. 8913- 24-380-003, even if this property is exempt from the Groundwater Hazard Statement requirement. B. The County is the owner of the real estate identified as Tax Parcel ID No. 8913-10- 452-002, as depicted in Exhibit D. The County shall convey to the City that undeveloped portion of said real estate situated to the north of a fenceline on the real estate, as demarcated by a green line in Exhibit D, and consisting of about 7.4 to 7.6 acres, more or less. The conveyance shall be by special warranty deed to City for the purchase price of $1.00, free and clear of all encumbrances arising by or through City except: (a) easements, servitudes, conditions and restrictions of record; (b) general utility and right-of-way easements; and (c) restrictions imposed by the City zoning ordinances and other applicable law. The County shall convey the remaining portion of Tax Parcel ID No. 8913-10-452-002 to the City upon County vacating the buildings and structures situated on said real estate. The County shall vacate not less than 10 years from the date of this MOU. The conveyance shall be by special warranty deed to City for the purchase price of $1.00, free and clear of all encumbrances arising by or through City except: (a) easements, servitudes, conditions and restrictions of record; (b) general utility and right-of-way easements; and (c) restrictions imposed by the City zoning ordinances and other applicable law. The County shall have the right to remove any and all fixtures, including solar panels, equipment, and other items or property from the real estate, and the County shall further have the right to remove the hoop building from the real estate. Any fixtures, equipment and other items of property not removed as of the date of County's conveyance of the real estate to City shall become the property of the City. The City shall be responsible for surveying and platting and full legal descriptions with respect to the relevant real estate will be included in a final agreement. Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 3. Condition of Real Estate. Each party shall convey its real estate to the other in "AS -IS" condition. 4. Subsequent Agreements; Additional Terms. The parties acknowledge and agree that additional terms, conditions, covenants, representations, warranties, easements, restrictions, access rights, development obligations, closing requirements, and other provisions may be necessary or desirable to fully implement the intent of the parties. Accordingly, the parties shall cooperate in good faith to negotiate, prepare, consider, approve, and execute such further agreements, instruments, resolutions, conveyance documents, plats, surveys, easements, and related documents as may be reasonably necessary or appropriate to effectuate the performances and transactions contemplated herein and to carry out the purposes and intent of this MOU. IN WITNESS WHEREOF, the parties have executed this Memorandum of Understanding by their duly authorized representatives as of the date first set forth above. CITY OF WATERLOO, IOWA BLACK HAWK COUNTY, IOWA ,-Signed by: BYVawtt f70t,St,ln, -3I W d esen, Mayor By: Linda Laylin Name Signed by: Att st y F c i(F l Fi lile, City Clerk Title Board Chair Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 EXHIBIT A [see attached or appended Exhibit A] Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 EXHIBIT B Parcel "L" of Plat of Survey recorded in Fee Book # 2006-14794 consisting of part of Lot Nos. 6, 7, and 10 in Block No. 16, Original Plat of Waterloo (East Side), in the City of Waterloo, Black Hawk County, Iowa. Tax Parcel ID No. 8913-25-131-010 Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 EXHIBIT C Cooley Addition Waterloo, the Southeast eighty-eight (88) feet of Lot One (I) in Block Fifty-nine (59), the Southeast eighty-eight (88) feet of Lot Four (4) in Block fifty-nine (59). Tax Parcel ID No. 8913-24-380-003 Docusign Envelope ID: B77F0C60-EC29-893B-8169-EDFFE7BA4951 EXHIBIT D [see attached or appended Exhibit D]