HomeMy WebLinkAbout2026-530-10.05.2026.docDocusign Envelope ID: DA28AFD6-2E03-8546-80FA-946F94BA703A
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2026-530
RESOLUTION SETTING DATE OF THE PUBLIC HEARING
AS OCTOBER 19, 2026, TO AUTHORIZE THE SALE AND
CONVEYANCE OF 8.95 ACRES OF CITY -OWNED
PROPERTY LOCATED ON LOT 9 OF WATERLOO AIR AND
RAIL PARK IN THE AMOUNT OF $88,501.00, INCLUDING
APPROVAL OF A DEVELOPMENT AGREEMENT FOR THE
CONSTRUCTION OF A 50,400 SQUARE -FOOT WAREHOUSE
WITH REBATES FOR TEN -YEARS AT FIFTY PERCENT
AND A MINIMUM ASSESSMENT AGREEMENT WITH A-
LINE EDS, IN THE AMOUNT OF $3,750,000.00, AND
INSTRUCT THE CITY CLERK TO PUBLISH NOTICE.
WHEREAS, the City of Waterloo, Iowa, is the owner of approximately 8.95 acres of
real property located on Lot 9 of the Waterloo Air and Rail Park; and
WHEREAS, the City proposes to sell and convey said property to A -line EDS for the
purchase price of $88,501.00; and
WHEREAS, in connection with the proposed conveyance, the city proposes to enter into
a Development and Minimum Assessment Agreement with A -line EDS relating to the
redevelopment of 315 East 4th Street and 311 East 4th Street, providing for a minimum
assessment agreement in the amount of $565,000.00; and
WHEREAS, before proceeding with said sale and conveyance, it is necessary to set a
date for public hearing and direct the City Clerk to publish notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. A public hearing is hereby set for October 19, 2026, on the proposed sale and
conveyance of approximately 8.95 acres of City -owned property located on Lot 9 of the
Waterloo Air and Rail Park to Aline EDS for the purchase price of $88,501.00, relating to the
construction of a 50,400 square -foot warehouse, including tax increment financing rebates for
ten years at fifty percent and a Minimum Assessment Agreement establishing a minimum
assessed value of $3,750,000.00.
2. The City Clerk is directed to publish notice of said public hearing as required by law.
PASSED AND ADOPTED this 5th day of October 2026.
e--Signed by:
ROkita bOGSt,Vt,
ATTEST:
,-Signed by:
Kd1l j F
Kelfey VeTA, tity Clerk
SEAL
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David Boesen, Mayor