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Council amends development agreement to help unlock Courier building redevelopment; city to buy adjacent metal-building parcel
Summary
Council approved an amendment allowing the city to acquire roughly 132 feet of land (metal building area) at the former Courier property and adjusted a previously approved development agreement to reduce unit count and change reimbursements; the city would pay $500,000 for the parcel, officials said.
The Waterloo City Council on Monday approved an amendment to a development agreement intended to move forward redevelopment of the former Courier building downtown and authorized the city to acquire the north 132 feet of the site where a metal warehouse now stands for $500,000, staff said.
City Planning Director Noel Anderson told the council the amendment reduces the project from 78 units to 70 and adjusts rebate amounts. The change follows lengthy negotiations over historic preservation, exterior metal panels and the need to remove or relocate the metal warehouse to allow rehabilitation of the historic masonry structures.
Developer representatives said they had…
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