HomeMy WebLinkAbout2013-758-09/16/2013Prepared by Carol Nemmers, Deputy City Clerk, City of Waterloo,
715 Mulberry Street, Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2013-758
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH SHRI GANAPATI & BAJRANGBALI, INC. D/B/A
FAIRFIELD INN & SUITES OF WATERLOO, 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 September 16, 2013, for the
construction of a new 81 room, multi -story hotel development at
the southeast corner of Crossroads Boulevard and Bopp Street,
adding $2.64 million in taxable value to site, and tax rebates
for 8 years at 50 percent, by and between Shri Ganapati &
Bajrangbali, Inc. d/b/a Fairfield Inn & Suites of Waterloo, 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 16th day of September, 2013.
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Ernest G. Clark, Mayor
ATTEST:
y Sc it as, CMC
City Cler