HomeMy WebLinkAbout2013-878-10/28/2013Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-878
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH CEDAR VALLEY WAREHOUSE, LLC OF CEDAR
FALLS, IOWA AND DIRECTING EXECUTION OF SAID
AGREEMENT BY MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated October 28, 2013, for the
construction of a 40,000 square foot industrial building in the
Airport TIF District, adding $1,200,000.00 of taxable value to
the site, and offering tax rebates for 5 years at 50 percent,
plus a grant to purchase the property for $271,582.00, by and
between Cedar Valley Warehouse, LLC of Cedar Falls, Iowa and the
City of Waterloo, Iowa, be and the same is hereby approved, and
the Mayor and City Clerk authorized to execute the same in behalf
of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 28th day of October, 2013.
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Ernest G. Clark, Mayor
ATTEST:
S ares, CMC
City Clerk