The Waterloo City Council on Aug. 25 approved a package of financing and property actions that included a loan and disbursement agreement with the Iowa Finance Authority related to sewer revenue capital loan notes and a land‑release to support an International Paper expansion.

Bridget (city finance director) told the council the state has granted partial forgiveness of the city’s sewer loan, reducing the city’s remaining obligation on previously completed sewer projects. Separately, the council approved a request by Waterloo Regional Airport to release 13 acres (parcels G and H) to the city for $577,800; the resolution authorizes the mayor and city clerk to execute required land‑release documents and authorizes staff to submit those documents to the Federal Aviation Administration for approval.

Noel Anderson, community planning and development director, explained that the airport land was acquired in 1943 for airport‑related purposes and that FAA rules require an appraisal, review and payment of fair‑market value to release airport property for non‑airport industrial development. He said the 13‑acre release is tied to the International Paper project and includes land to accommodate a rail connection and future expansion; the city already has roughly 90 acres previously released and is creating lots for development from the released acreage.

Council also approved a professional‑services agreement for Tallgrass Archaeology ($15,678.68) in conjunction with an EDA grant for storm and sanitary sewer work at Work Business Park and approved a subscription agreement with Routeware Inc. for sanitation collection software ($6,995.42 initial amount with a subscription increase cap of up to 4% in years two and three). Votes on the grouped items were affirmative on roll call.

Councilors asked whether the funds paid for the land release flow to the airport; staff said proceeds go into an FAA‑approved account that the airport can use for FAA‑approved projects. Councilors also asked whether the city had vacant parcels available; staff said the parcels being released are specifically needed for the International Paper project, including rail connection and future expansion capacity.