HomeMy Public PortalAboutResolution 2021-29, A Resolution Authorizing the Reimbursement to Belmont Development Properties LLC for expenses IncurredRESOLUTION 2021-29
A RESOLUTION AUTHORIZING THE REIMBURSEMENT TO BELMONT DEVELOPMENT
PROPERTIES LLC FOR EXPENSES INCURRED
WHEREAS, The City of Riverdale, Iowa ("City") is a Municipal Corporation, organized and
operating under the laws of the State of Iowa, and;
WHEREAS, the City entered into an agreement with Belmont Development Properties
LLC and;
WHEREAS, the Agreement stated the following:
Section 10.11. Advancement of City Expenses. Upon execution of this Agreement,
Developer agrees to advance a portion of the City's costs, in the amount of
$20,000, related to the drafting and adoption of the Fenno Drive Urban Renewal
Plan, the drafting and approval of this Agreement, and other administrative
expenses incurred by the City related to the Project's approval such as expenses
related to platting of the Development Property and publication of notices related
to the foregoing actions. and;
WHEREAS, the City and Belmont Development Properties did not execute the said
project and;
WHEREAS, Belmont Development Properties is requesting reimbursement of $20,000.00
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RIVERDALE,
IOWA.
Section 1. Authorizes the Mayor and City Staff to reimburse Belmont Development
Properties at a price not to exceed the $20,000 authorized by this resolution without
further advice and consent of the City Council.
Passed and approved this 13'" day of July 2021.
APPROVED
ichael Bawdn, Mayor
ATTEST
N6
Katie Enloe, Deputy Clerk
City of Riverdale, Iowa 110 Manor Drive, Riverdale, Iowa 52722 • (563) 355-2511 • www.riverdaleiowa.com