HomeMy WebLinkAbout2024-10-07 Resolution 2024-431_Assignment of Economic Development Grants, 117 Land Company LLC, SobotkaRESOLUTION NO. 2024-431
RESOLUTION APPROVING ANI) AUTHORIZING
EXECUTION OF A NOTICE AND ACKNOWLEDGMENT OF
ASSIGNMENT BETWEEN 117 LAND COMPANY, L.L.C. AND
ROBIN SOBOTKA OF ECONOMIC DEVELOPMENT GRANTS
UNDER DEVELOPMENT AGREEMENT
WHEREAS, on the 61" day of November, 2017, the City of Waukee, Iowa (the "City"), 117
Land Company, L.L.C. ("Developer"), and RJ Lawn Service, Inc. ("Employer") entered into an
Agreement for Private Development ("Development Agreement"), pursuant to which the
Developer agreed to construct certain Public Improvements (as that term is defined in the
Development Agreement) and prepare certain property located in the City's Southwest Business
Park Urban Renewal Area (the "Development Property") for development, and the City agreed to
provide Economic Development Grants to the Developer in exchange for Developer's obligations
under the Development Agreement; and
WHEREAS, the City has received a request from the Developer, in the form of a proposed
Notice and Acknowledgment of Assignment of Economic Development Grants under
Development Agreement (the "Notice") by and between the Developer and Pinnacle Bank
("Bank"), pursuant to which the City would be directed to pay any future Economic Development
Grants due under the Development Agreement to the Bank which was approved by the City by
resolution 2023-273, subject to the terms of the Development Agreement; and
WHEREAS, the City has received a second request from the Developer, in the form of a
proposed Notice and Acknowledgment of Assignment of Economic Development Grants under
Development Agreement (the "Notice") by and between the Developer and Robin
Sobotka("Sobotka"), pursuant to which the City would be directed to pay any future Economic
Development Grants due under the Development Agreement to Sobotka after Pinnacle Bank has
delivered to the City a written termination of the prior assignment, subject to the terms of the
Development Agreement; and
WHEREAS, Developer agrees to continue to be responsible for its obligations under the
Development Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WAUKEE, IOWA:
Section 1. That the form and content of the Notice between Developer and Sobotka, the
provisions of which are incorporated herein by reference, be and the same hereby are in all respects
authorized, approved and confirmed, and the Mayor and the City Clerk be and they hereby are
authorized, empowered and directed to execute, attest, seal and deliver the Notice for and on behalf
of the City in substantially the form and content now before this meeting, but with such changes,
modifications, additions or deletions therein as shall be approved by such officers, and that from
and after the execution and delivery of the Notice, the Mayor and the City Clerk are hereby
authorized, empowered and directed to do all such acts and things and to execute all such
documents as may be necessary to carry out and comply with the provisions of the Notice as
executed.
PASSED AND APPROVED this 7`h day of October, 2024.
Mayor
ATTEST:
lY '
City Clerk
RESULTS OF VOTE:
AYE NAY ABSENT ABSTAIN
R. Charles Bottenberg
X
Chris Crone
X
Rob Grove
X
Anna Bergman Pierce
X
Ben Sinclair
X