HomeMy WebLinkAbout2016-841-10/17/2016 Prepared by Kelley Felchle, City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo, IA
50703, (319) 291-4323.
RESOLUTION NO. 2016-841
RESOLUTION APPROVING DEVELOPMENT AGREEMENT
WITH LOVE'S TRAVEL STOPS AND COUNTRY STORES,
INC. AND THE CITY OF WATERLOO FOR CONSTRUCTION
OF A NEW LOVE'S TRAVEL STOP WITH A NEW TAXABLE
VALUE OF $3.35 MILLION, AND TAX REBATES OF 8
YEARS AT 75%, AND AUTHORIZE THE MAYOR AND CITY
CLERK TO SIGN AND FULLY EXECUTE ALL NECESSARY
DOCUMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Development Agreement dated October 17, 2016, between Love's Travel Stops and
Country Stores, Inc. and the City of Waterloo,Iowa, for construction of a new Love's Travel Stop
with a new taxable value of$3.35 million, and tax rebates of 8 years at 75%, is hereby approved
and the Mayor and City Clerk are authorized and directed to execute the same on behalf of the
City of Waterloo, Iowa.
PASSED AND ADOPTED this 17th day of October 2016.
Quentin Hart, Mayor
ATTEST:
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Kelley Felcbf
City Clerk