HomeMy WebLinkAbout2026-333-06.15.2026.docDocusign Envelope ID: 58A56637-7E62-819E-818C-3B72C9538E0D
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-333
RESOLUTION APPROVING A DEVELOPMENT AND
MINIMUM ASSESSMENT AGREEMENT WITH PLUMB
SUPPLY COMPANY, LLC, IN THE AMOUNT OF
$1,630,700.00 FOR THE EXPANSION OF AN
APPROXIMATELY 20,000 SQUARE -FOOT COMMERCIAL
BUILDING, FIVE YEARS AT FIFTY PERCENT TAX
REBATES, AND AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE SAID DOCUMENTS.
WHEREAS the City of Waterloo, Iowa, has determined it is in the best interest of the city
to enter into a Development and Minimum Assessment Agreement with Plumb Supply
Company, LLC, for the expansion of an approximately 20,000 square -foot commercial building;
and
WHEREAS, the minimum assessment amount for said project is $1,630,700.00; and
WHEREAS, the Agreement provides for five years at fifty percent tax rebates; and
WHEREAS, the City Council finds it appropriate to approve said Agreement and
authorize execution of said documents.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA,
1. The Development and Minimum Assessment Agreement with Plumb Supply
Company, LLC, in the amount of $1,630,700.00 for the expansion of an approximately 20,000
square -foot commercial building, with five years at fifty percent tax rebates, 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 15th day of June 2026.
,-Signed by:
VA 4 7 t,SuA,
D va is ITOesen;'layor
ATTEST:
,-Signed by:
Key fUL
F6O O F G64Ai Kelley e c e, ty Clerk
SEAL