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Council advances South Waterloo Business Park expansion plans and authorizes bond advertisements
Summary
Council discussed purchasing additional acreage adjacent to the South Waterloo Business Park to increase the certified site toward a 200‑acre target, reviewed drainage and detention plans, approved resolutions to advertise general obligation bonds, and introduced professional services for asbestos and infrastructure planning.
The Waterloo City Council spent substantial time discussing plans to expand the South Waterloo Business Park and approved several finance and planning steps tied to ongoing redevelopment efforts.
Noel Anderson, Community Planning & Development Director, described the existing certified site as about 183 acres and said staff is proposing to buy adjacent tracts (an initial 14 acres at $45,000 per acre with CPI adjustments) to move closer to a 200‑acre threshold that could make the city eligible for larger state “mega” incentives. Anderson said OPUS, a developer working in the park, plans two large buildings and that the city recently received a…
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