HomeMy WebLinkAbout~Master - Minimum Assessment Agreement with Deere & Co. on Lot 1 in ISU Research Park PHase II, Third Addition RESOLUTION NO. 18-573
RESOLUTION APPROVING MINIMUM ASSESSMENT AGREEMENT FOR
JOHN DEERE BUILDING IMPROVEMENTS ON LOT 1 IN PHASE III, THIRD
ADDITION OF THE IOWA STATE UNIVERSITY RESEARCH PARK BETWEEN THE
CITY OF AMES,DEERE & COMPANY,AND THE AMES CITY ASSESSOR
WHEREAS, THE City and the Iowa State University Research Park intend to enter into an
Agreement for Public Improvements regarding the development of Phase IV of the Research Park;
and,
WHEREAS, The Iowa State Research Park control the land necessary to undertake an
expansion known as Phase IV; and,
WHEREAS,Deere&Company desires to construct a building on Lot 1,Iowa State Research
Park Phase III; and,
WHEREAS, the City expects to receive grant monies to help pay the City's public
infrastructure costs for Phase IV of the Research Park; and,
WHEREAS,pursuant to Section 403.6 fo the Code of Iowa,the City and Deere&company
desire to establish a minimum actual value for the improvements.
NOW, THEREFORE,the parties to the Minimum Assessment Agreement do hereby agree
that the Assessor shall establish an assessed value of at least $5,000,000 as of January 1, 2020 for
the first building constructed on Lot 1, Iowa State University Research Park Phase III, Third
Addition.
BE IT FURTHER RESOLVED by the City Council of the City of Ames, Iowa, that the
Minimum Assessment Agreement for the John Deere Building Improvements on Lot 1 in Phase III,
Third Addition of the Iowa State University Research Park is hereby approved.
ADOPTED THIS 9t1i day of October, 2018.
1 J
C-1AIJ11A, iA4i-, A /% r
I n"I
Diane oss, City Clerk Joh aila, kfa Jr—
Introduced by: Betcher
Seconded by: Beatty-Hansen
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Martin,Nelson
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 9" day of October, 2018.