| | | | | | | | CITY OF WATERLOO
Council Communication
Resolution approving a Development Agreement with GBS Development, LLC, for the construction of up to twelve (12) two-unit residential buildings, for a total of up to twenty-four (24) units, located north of 669 S. Hackett Road, including a Development Grant of $5,000 per unit, and authorizing the Mayor and City Clerk to execute said document.
City Council Meeting: 9/21/2020
Prepared: 9/16/2020 |
| ATTACHMENTS: | | Description | Type |  | Agreement | Backup Material |
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| | | | | | | | SUBJECT:
| Resolution approving a Development Agreement with GBS Development, LLC, for the construction of up to twelve (12) two-unit residential buildings, for a total of up to twenty-four (24) units, located north of 669 S. Hackett Road, including a Development Grant of $5,000 per unit, and authorizing the Mayor and City Clerk to execute said document. |
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| | | | | | | | Submitted by:
| Submitted By: Noel Anderson, Community Planning and Development Director |
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| | | | | | | | Recommended Action:
| Approve the resolution |
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| | | | | | | | Summary Statement:
| The Developer acquired the 4.4 acres of property in the spring of 2020. They plan to construct up to 12 two-unit residential structures, with a total of up to 24 units. They will be receiving $5,000 per unit per the Residential Infill Policy for a total of $120,000. |
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| | | | | | | | Expenditure Required:
| $120,000 |
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| | | | | | | | Policy Issue:
| Infill Housing |
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| | | | | | | | Legal Descriptions:
| Lot 27, Auditor's Whitney Road Plat in Sections 16 and 21-89-13, City of Waterloo, Black Hawk County, Iowa, except the West 210 feet thereof.
AND
That part of Lot 28, Auditor's Whitney Road Plat in Sections 16 and 21-89-13, City of Waterloo, Black Hawk County, Iowa, described as follows:
Beginning at the point of intersection of the South line of Maynard Avenue and the East line of Hackett Road, said point lying 30.0 feet South of the North line of said Lot 28; thence East parallel with said North line to a point which is 495.0 feet West of the East line of said Lot 28; thence Southeasterly to a point on the South line of said Lot 28 which is 30.0 feet East of the Northeast corner of Lot 27 in said Auditor's Plat; thence West along the South line of said Lot 28 to the East line of Hackett Road; thence North to the point of beginning.
[The above-described property is to be platted as Lots 1 and 2 of Gardner Addition, City of Waterloo.]
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