HomeMy WebLinkAbout2025-387-07.07.2025.docDocusign Envelope ID: B5D0EEFF-A50D-8372-8193-585B17102E38
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-387
RESOLUTION APPROVING A DEVELOPMENT
AGREEMENT WITH DHANI RE INVESTMENTS, LLC IN
CONJUNCTION WITH THE REHABILITATION OF 512 N.
BARCLAY STREET, INCLUDING A GRANT OF $5,000.00
FOR PARTIAL PURCHASE PRICE REFUND AND A GRANT
OF $5,000.00 FOR INFILL HOUSING DEVELOPMENT, AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS Dhani RE Investments, LLC has proposed a project for the rehabilitation of
the property located at 512 N. Barclay Street, aiming to enhance residential infrastructure and
contribute positively to the community fabric of Waterloo; and
WHEREAS, the City of Waterloo supports infill housing development as a means to
optimize land use, improve neighborhood vitality, and promote urban regeneration; and
WHEREAS, as part of this Development Agreement, the City agrees to provide Dhani
RE Investments, LLC with a grant of $5,000.00 towards a partial purchase price refund and an
additional grant of $5,000.00 directed towards the costs associated with the infill housing
development to incentivize and support these activities.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Development Agreement with Dhani RE Investments, LLC for the rehabilitation
of 512 N. Barclay Street, including the specified grants, is hereby approved.
2. A grant of $5,000.00 for partial purchase price refund and a grant of $5,000.00 for
infill housing development are authorized as per the terms outlined in the Development
Agreement.
3. The Mayor and City Clerk are authorized and directed to execute said documents on
behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 7th day of July 2025.
ATTEST:
Signed by:
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Keliey `herenle, City Clerk
Signed by:
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Quentm art, Mayor
Docusign Envelope ID: B5D0EEFF-A50D-8372-8193-585B17102E38
Resolution No. 2025-387
Page 2
CERTIFICATE
I, Kelley Felchle, City Clerk of the City of Waterloo, Iowa, do hereby certify that the
preceding is a true and complete copy of Resolution 2025-387 as passed and adopted by the
Council of the City of Waterloo, Iowa, on the 7th day of July 2026.
Witness my hand and seal of office this 7th day of July 2026.
SEAL
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Kelley Felchle, City Clerk