HomeMy WebLinkAbout2017-143-2/20/2017 Prepared b Le
Ann y Ann M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319)291-4323.
RESOLUTION NO. 2017-143
RESOLUTION AMENDING THE EXISTING 657A SALE OF
PROPERTY POLICY TO ADD PROVISIONS FOR PAYMENT BACK
FOR ACQUISITION PRICE ($5,000), PLUS ANOTHER $5,000, UPON
COMPLETION FOR SUCCESSFUL DEVELOPMENT.
WHEREAS, the existing 657A Sale of Property policy, allows cities to petition the courts
for possession of vacant and dilapidated homes, of which no one will take responsibility for its
condition, and
WHEREAS, the City of Waterloo continues to experience maintenance costs for lots
available for development, and
WHEREAS, the City of Waterloo currently sells and develops said properties thru
development agreements with a minimum sale price of$5,000.00, and
WHEREAS, a minimum amount of interests in the properties has been generated with the
current policy, and
WHEREAS, the goal of the policy is amending the policy to add provisions for payment
back for the acquisition price, $5,000, plus an additional $5,000, upon completion of the project,
to generate more interest in the properties and develop future tax base.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
WATERLOO, IOWA, that the resolution to amend the current 657A, Sale of Property Policy, to
add provisions for payment back for acquisition price $5,000, plus an additional $5,000 upon
completion for successful development of property, be hereby adopted and the Mayor and City
Clerk are authorized and directed to execute said agreement on behalf of the City of Waterloo,
Iowa.
PASSED AND ADOPTED this 20th day of February 2017.
Quentin Hart, Mayor
ATTPST-:.
Kelley Fe le
City Cierl