HomeMy Public PortalAbout2022-61 Resolution Authorizing the Mayor to Engage Ahlers & Cooney to Review Woods TIF Transfer RequestAnthony Heddlesten, Mayor
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RESOLUTION 2022-61
RESOLUTION AUTHORIZING THE MAYOR TO ENGAGE AHLERS &
COONEY, PC, TO REVIEW SETH WOODS' TIF TRANSFER REQUEST
WHEREAS, the City of Riverdale, Iowa ("City") is a municipal corporation, organized and operating under
the laws of the State of Iowa; and,
WHEREAS, Seth Woods' (the "Developer") company, Woods Construction and Development, Inc., has a
current TIF agreement with the City; and,
WHEREAS, the Developer wishes to dissolve the company Woods Construction and Development, Inc.,
and therefore has a need to reassign the TIF Agreement to another of his companies; and,
WHEREAS, the Developer has requested a Third Addendum to the TIF Agreement to reassign it from
Woods Construction and Development, Inc., to Woods S & K Capital, Inc., of which he is President and
sole shareholder; and,
WHEREAS, Ahlers 8t Cooney, PC, are the City's designated TIF attorneys regarding TIF matters with
Developer; and,
WHEREAS, Ahlers & Cooney, PC, have submitted an Engagement Agreement for consideration, and the
scope of the Engagement Agreement includes reviewing/preparing documents, preparing proceedings,
answering questions, and providing a complete transcript file related to the recommendation on
approval or denial of the assignment and/or amendment of the TIF Agreement; and,
WHEREAS, Ahlers & Cooney, PC's fee these services is billed at a rate of $125 per hour; and,
WHEREAS, all fees incurred by the City from Ahlers & Cooney, PC, regarding the review of the
Engagement Agreement will be billed by the City to the Developer and are due within 30 days of invoice.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Riverdale, Iowa, that:
Section 1: The Mayor is authorized to sign an Engagement Agreement with Ahlers 8t Cooney, PC.
Section 2. Staff members are directed to invoice the Developer, PO Box 261, Bettendorf, Iowa 52722,
for expenses paid to Ahlers & Cooney, PC, regarding this matter.
Passed and approved this 6th day of September 2022.
ATTEST:
Kelly Kr eputy Clerk
City of Riverdale, owa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511 1 www.riverdaleia.org