HomeMy WebLinkAbout~Master - Developer's Agreement for Ames Community Development Industrial Park RESOLUTION NO. 09-054
RESOLUTION APPROVING DEVELOPER'S AGREEMENT FOR
AMES COMMUNITY DEVELOPMENT INDUSTRIAL PARK
FOR THE CITY OF AMES
WHEREAS, on August 26,2008,the City Council reviewed a request that the City provide
a tax increment financing incentive for infrastructure improvements to develop approximately 37
acres of industrial land along South Bell Avenue; and,
WHEREAS, the developer indicated that there is not a sufficient amount of industrial land
available in the City because it is too costly for developers to construct this type of subdivision
without financial support from the City; and,
WHEREAS, Council directed staff to initiate steps to provide tax increment financing for
the construction of the public infrastructure to this property; and,
WHEREAS, it was indicated that the first step in the approval process would be to finalize
a Developer's Agreement outlining the responsibilities and requirements of both the City and the
developer; and,
WHEREAS,in accordance with this directive,numerous negotiating sessions have been held
in an effort to finalize an agreement that is acceptable to both parties.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Developer's Agreement with Dayton Park, LLC, for the Ames Community Development
Industrial Park is hereby approved as attached hereto and made a part hereof by this reference.
ADOPTED THIS 1 O'h day of February, 2009.
C�A�?. UOG
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Goodman
Seconded by: Larson
Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 10'day of February, 2009.