HomeMy WebLinkAboutRESOLUTION 2008-347 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-347
RESOLUTION APPROVING AMENDMENT TO DEVELOPMENT
AGREEMENT WITH ELK RUN ENERGY ASSOCIATES, LLC
AND DIRECTING EXECUTION OF SAID AGREEMENT BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the amendment to Development Agreement dated April 28, 2008 ,
for the construction and related improvements for a modern
electric generating facility, with approximately $800, 000 . 00 per
year excise tax, no tax rebatement or abatement, provide for
extension of utilities for the development, improvements to
Newell Street, a grant of $150, 000 . 00 for construction of a
recreational trail on the east side, a grant of $400, 000 . 00 to
the Highway 63 Gateway Community Development Corporation for the
Highway 63 Corridor, a grant of $100, 000 . 00 for establishment of
Technical Scholarship Fund to assist with post-secondary
educational funding for students in Black Hawk County, etc. , by
and between Elk Run Energy Associates, LLC 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 April, 2008 .
Tim Hurley, Mayor
ATTEST:
L4---
Nancy Ecker , CMC
City Cler