HomeMy WebLinkAbout2026-515-09.21.2026.docDocusign Envelope ID: 562DD6CC-F8C4-87D2-8049-9781D65E5E4E
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-515
RESOLUTION APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT WITH DHANI RE
WATERLOO, LLC TO INCREASE THE NUMBER OF
RESIDENTIAL DWELLINGS FROM TWENTY-SIX TO
TWENTY-EIGHT AND PROVIDE $10,000.00 IN
ADDITIONAL HOUSING INFILL INCENTIVES FOR TWO
NEW UNITS, AMEND THE COMPLETION DATE TO MARCH
31, 2027, AND AN AMENDMENT TO THE MINIMUM
ASSESSMENT AGREEMENT TO HAVE A MINIMUM
ASSESSED VALUE OF $2,550,000.00, LOCATED AT 722
WATER STREET (AKA 20 E. 5TH STREET), AND
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE SAID DOCUMENT.
WHEREAS, the City of Waterloo, Iowa, previously entered into a Development
Agreement with Iowa Heartland Habitat for Humanity concerning the property located at 408
Vermont Street; and
WHEREAS, Iowa Heartland Habitat for Humanity has requested an amendment to the
Development Agreement to permit the demolition of the existing home located on the property
and the construction of a new single-family home; and
WHEREAS, Iowa Heartland Habitat for Humanity has further requested an extension of
the project completion deadline to July 31, 2029; and
WHEREAS, the City Council finds that approving the Amendment to the Development
Agreement is in the best interest of the City of Waterloo.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The Amendment to the Development Agreement between the City of Waterloo, Iowa,
and Iowa Heartland Habitat for Humanity, relating to the property located at 408 Vermont Street,
is hereby approved.
2. The Amendment shall permit the demolition of the existing home and the construction
of a new single-family home at 408 Vermont Street.
3. The completion deadline established in the Development Agreement, as amended, is
hereby extended to July 31, 2029.
4. 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 21' day of September 2026.
Signed by:
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David boesen, Mayor
Docusign Envelope ID: 562DD6CC-F8C4-87D2-8049-9781D65E5E4E
Resolution 2026-515
Page 2
ATTEST:
Signed by:
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Kelley Fe cIile, City Clerk
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 No. 515 as passed and adopted by the City
Council of the City of Waterloo, Iowa, on the 21 st day of September 2026.
SEAL
Witness my hand and seal of office on this 21st day of September 2026.
,—Signed by:
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Kelley Felchle, City Clerk